Equitable Financial (EQFN) 10-Q 13 Nov 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2017	Nov. 13, 2017
Document and Entity Information
Entity Registrant Name	Equitable Financial Corp.
Entity Central Index Key	1,635,626
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		3,368,932
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Assets
Cash and due from financial institutions	$ 4,593,564	$ 4,881,007
Securities available-for-sale	1,385,153	1,410,955
Securities held-to-maturity	729,076	735,978
Federal Home Loan Bank stock, at cost	459,100	453,400
Loans, net of allowance for loan losses of $3,759,000 and $3,555,000, respectively	245,504,612	236,545,125
Premises and equipment, net	5,437,408	5,424,855
Foreclosed assets, net	223,200	223,200
Accrued interest receivable	1,732,728	1,297,908
Deferred taxes, net	927,279	862,009
Other assets	1,809,089	2,008,051
Total assets	262,801,209	253,842,488
Liabilities:
Noninterest-bearing deposits	27,951,900	29,546,051
Interest-bearing deposits	187,205,987	179,512,265
Total deposits	215,157,887	209,058,316
Federal funds purchased	564,000	399,000
Federal Home Loan Bank borrowings	8,963,000	6,745,400
Advance payments from borrowers for taxes and insurance	260,276	432,960
Accrued interest payable and other liabilities	1,073,664	820,229
Total liabilities	226,018,827	217,455,905
Common stock in ESOP subject to contingent repurchase obligation	836,010	815,280
Stockholders’ equity:
Common stock, $0.01 par value, 25,000,000 shares authorized 3,368,932 and 3,372,532 shares issued and outstanding at September 30, 2017 and June 30, 2017, respectively	33,689	33,725
Additional paid-in capital	25,756,511	25,794,124
Retained earnings	12,803,276	12,474,958
Unearned ESOP Shares	(1,073,089)	(1,107,692)
Shares reserved for stock compensation	(734,840)	(797,950)
Accumulated other comprehensive income/(loss), net of tax	(3,165)	(10,582)
Reclassification of ESOP shares	(836,010)	(815,280)
Total stockholders' equity	35,946,372	35,571,303
Total liabilities and stockholders' equity	$ 262,801,209	$ 253,842,488

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Condensed Consolidated Statements of Financial Condition
Allowance for loan losses	$ 3,759,000	$ 3,555,000
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	3,368,932	3,372,532
Common Stock, shares outstanding	3,368,932	3,372,532

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Interest income:
Loans	$ 2,787,454	$ 2,194,248
Securities	16,913	8,730
Other	1,241	12,392
Total interest income	2,805,608	2,215,370
Interest expense:
Deposits	359,534	266,385
Federal Home Loan Bank borrowings	25,938
Other	2,825	138
Total interest expense	388,297	266,523
Net interest income	2,417,311	1,948,847
Provision for loan losses	204,434	152,764
Net interest income after provision for loan losses	2,212,877	1,796,083
Noninterest income:
Service charges on deposit accounts	160,875	167,196
Brokerage fee income	134,282	178,447
Gain on sale of loans	133,364	236,464
Other loan fees	59,052	78,848
Other income	53,878	31,870
Total noninterest income	541,451	692,825
Noninterest expense:
Salaries and employee benefits	1,306,419	1,183,786
Director and committee fees	43,692	40,392
Data processing fees	151,911	140,650
Occupancy and equipment	260,237	258,373
Regulatory fees and deposit insurance premium	49,883	53,617
Advertising and public relations	55,692	47,891
Insurance and bond premiums	8,010	23,924
Professional fees	154,328	117,318
Supplies, telephone and postage	62,972	60,215
Other expenses	145,321	169,222
Total noninterest expense	2,238,465	2,095,388
Income before income taxes	515,863	393,520
Income tax expense	(187,545)	(128,462)
Net income	$ 328,318	$ 265,058
Basic earnings per share (in dollars per share)	$ 0.10	$ 0.08
Diluted earnings per share (in dollars per share)	$ 0.10	$ 0.08

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Condensed Consolidated Statements of Comprehensive Income
Net income	$ 328,318	$ 265,058
Other comprehensive income/(loss):
Unrealized gain/(loss) on securities available-for-sale, net of tax	7,417	(1,158)
Comprehensive income	$ 335,735	$ 263,900

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - 3 months ended Sep. 30, 2017 - USD ($)	Common Equity	Additional Paid In Capital	Retained Earnings	Unearned ESOP Shares	Shares Reserved for Stock Compensation	Accumulated Other Comprehensive Income	Amount Reclassified on ESOP Shares	Total
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
Increase (Decrease) in Stockholders' Equity
Net Income			328,318					328,318
Other comprehensive income						7,417		7,417
Release of 3,966 unearned ESOP shares		5,718		34,603				40,321
Stock compensation expense		(6,567)			63,110			56,543
Stock Buyback	(36)	(36,764)						(36,800)
Reclassification due to release and changes in fair value of common stock in ESOP subject to contingent repurchase obligation of ESOP shares							(20,730)	(20,730)
BALANCE at Sep. 30, 2017	$ 33,689	$ 25,756,511	$ 12,803,276	$ (1,073,089)	$ (734,840)	$ (3,165)	$ (836,010)	$ 35,946,372

Consolidated Statement of Chan7

Consolidated Statement of Changes in Stockholders' Equity (Parenthetical)	3 Months Ended
	Sep. 30, 2017shares
Condensed Consolidated Statements of Changes in Stockholders' Equity
Release of unearned ESOP shares (in shares)	3,966

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities:
Net income	$ 328,318	$ 265,058
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	91,103	83,089
Federal Home Loan Bank stock dividends	(3,700)	(600)
ESOP expense	40,321	34,240
Stock compensation expense	56,543	14,570
Amortization of deferred loan origination costs, net	121,105	126,446
Amortization of premiums and discounts	745	3,564
Gain on sale of loans	(133,364)	(236,464)
Provision for loan losses	204,434	152,764
Deferred taxes	(69,092)	116,029
Loans originated for sale	(5,024,278)	(8,609,214)
Proceeds from sale of loans	5,124,534	8,770,606
Loss on investment in partnership		27,332
Changes in:
Accrued interest receivable	(434,820)	(339,592)
Other assets	235,951	89,706
Accrued interest payable and other liabilities	253,435	(50,219)
Net cash provided by operating activities	791,235	447,315
Cash Flows from Investing Activities:
Net change in loans	(9,288,907)	(8,736,662)
Securities available-for-sale:
Proceeds from calls and principal repayments	36,326	63,256
Securities held-to-maturity:
Proceeds from calls and principal repayments	6,872	10,862
Redemption of Federal Home Loan Bank stock	219,500
Purchases of Federal Home Loan Bank stock	(221,500)
Purchase of premises and equipment	(103,656)	(325,361)
Net cash used in investing activities	(9,351,365)	(8,987,905)
Cash Flows from Financing Activities:
Net change in deposits	6,099,571	2,700,721
Net change in federal funds purchased	165,000
Proceeds from Federal Home Loan Bank borrowings	23,000,000
Repayments of Federal Home Loan Bank borrowings	(20,782,400)
Net change in advance payments from borrowers for taxes and insurance	(172,684)	(184,706)
Stock Buyback	(36,800)
Net cash provided by financing activities	8,272,687	2,516,015
Decrease in cash and cash equivalents	(287,443)	(6,024,575)
Cash and Cash Equivalents:
Beginning	4,881,007	14,947,296
Ending	4,593,564	8,922,721
Supplemental Cash Flow Information:
Interest paid on deposits and borrowings	366,239	268,880
Income taxes paid	$ 283,401	$ 162,879

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2017
Basis of Presentation
Basis of Presentation	Note 1. The accompanying consolidated financial statements of Equitable Financial Corp. (the “Company”) and its wholly owned subsidiary Equitable Bank (the “Bank”) have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with SEC rules and regulations. Accordingly, the statements do not include all the information and footnotes required by GAAP for complete financial statements. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto that were included in the Company’s annual report for the year ended June 30, 2017. The consolidated balance sheet of the Company as of June 30, 2017 has been derived from the audited consolidated balance sheet of the Company as of that date. All significant intercompany transactions are eliminated in consolidation. In the opinion of the Company’s management, all adjustments necessary (i) for a fair presentation of the financial statements for the interim periods included herein and (ii) to make such financial statements not misleading have been made and are of a normal and recurring nature. Interim results are not necessarily indicative of results for a full year. In preparing the financial statements, management is required to make estimates and assumptions that affect the recorded amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses for the period. Actual results could differ from those estimates. For further information with respect to significant accounting policies followed by the Company in preparation of the financial statements, refer to the Company’s annual report for the year ended June 30, 2017. The Bank is a federally chartered stock savings bank and a member of the Federal Home Loan Bank (“FHLB”) system. The Bank maintains insurance on deposit accounts with the Deposit Insurance Fund of the Federal Deposit Insurance Corporation (“FDIC”).

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Sep. 30, 2017
New Accounting Pronouncements
New Accounting Pronouncements	Note 2. In May 2014, the FASB issued Financial Accounting Standards Board (“the FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers. The ASU is effective for the Company with the fiscal year ending June 30, 2019. The 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 ASU address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. The amendments in this ASU 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. In February 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 June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments. The purpose of this ASU 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 ASU 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 ASU is to address existing diversity in practice related to specific cash flow issues. This ASU 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 ASU is to improve the accounting for income tax consequences of intra-entity transfers of assets other than inventory. This ASU will be effective for annual reporting periods beginning after December 15, 2017. 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 ASU is to simplify how an entity is required to test goodwill for impairment. This ASU will be effective for annual fiscal years beginning after December 15, 2019. 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 ASU 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 ASU is effective for the Company with the fiscal year ending June 30, 2019. The Company does not expect this ASU to have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issues ASU 2017-08 Receivables – Nonrefundable Fees and Other Costs. The purpose of this ASU is to shorten the amortization period of certain callable debt securities held at a premium. This ASU will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. 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 ASU 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. This ASU will be effective for annual periods, and interim periods within those annual periods, beginning December 15, 2017. The Company does not expect this ASU to have a material impact on the Company’s consolidated financial statements. In July 2017, the FASB issued ASU 2017-11 Earnings Per Share, Distinguishing Liabilities from Equity, and Derivatives and Hedging. The purpose of this ASU is to address complexity of accounting for certain financial instruments with down round features and the difficulty of navigating Topic 480, Distinguishing Liabilities from Equity. This ASU is effective for fiscal years beginning after December 15, 2019. This Company does not expect this ASU to have a material impact on the Company’s consolidated financial statements. In August 2017, the FASB issues ASU 2017-12 Derivatives and Hedging. The purpose of this ASU is to improve the hedge accounting model to facilitate financial reporting that more closely reflects an entity’s risk management activities. This ASU will be effective for fiscal years beginning after December 15, 2018. This Company does not expect this ASU to have a material impact on the Company’s consolidated financial statements.

Securities

Securities	3 Months Ended
	Sep. 30, 2017
Securities
Securities	Note 3. 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 September 30, 2017 Cost Gains Losses Fair Value U.S. Government-sponsored agencies securities $ 987,532 $ — $ (6,474) $ 981,058 Residential mortgage-backed securities 402,416 1,919 (240) 404,095 $ 1,389,948 $ 1,919 $ (6,714) $ 1,385,153 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 The carrying amount, unrecognized gross gains and losses, and fair value of securities held-to-maturity are as follows: Gross Gross Amortized Unrealized Unrealized September 30, 2017 Cost Gains Losses Fair Value Residential mortgage-backed securities $ 129,076 $ 9,421 $ — $ 138,497 Municipal securities 600,000 — (746) 599,254 $ 729,076 $ 9,421 $ (746) $ 737,751 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 Securities available-for-sale and held-to-maturity consist of investments in bonds securitized by U.S. Government sponsored agencies, local municipal securities and mortgage-backed securities securitized by the Government National Mortgage Association. The contractual maturities of the residential mortgage-backed securities at September 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 $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. Approximately $981,000 of U.S. Government sponsored agency bonds will mature in the year ending June 30, 2023. There were no sales of securities for the three months ended September 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 three months ended September 30, 2017 and 2016.

Loans

Loans	3 Months Ended
	Sep. 30, 2017
Loans
Loans	Note 4. 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 Loans are as follows: September 30, 2017 June 30, 2017 Commercial: Operating $ 21,012,850 $ 20,139,045 Real estate 89,413,534 86,809,938 Agricultural: Operating 27,653,547 26,739,407 Real estate 30,837,522 31,105,790 Residential real estate: 1-4 family 44,898,107 43,060,013 Home equity 11,363,532 11,748,363 Other: Construction and land 19,716,368 16,175,698 Consumer 3,741,855 3,674,674 Total loans 248,637,315 239,452,928 Deferred loan origination costs, net 626,297 647,197 Allowance for loan losses (3,759,000) (3,555,000) (3,132,703) (2,907,803) Loans, net $ 245,504,612 $ 236,545,125 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. Changes in the allowance for loan losses, by portfolio segment are summarized as follows: Residential Commercial Agricultural Real Estate Other Total For the three months ended September 30, 2017 Balance, beginning $ 1,703,000 $ 918,000 $ 656,000 $ 278,000 $ 3,555,000 Provision charged to expense 91,954 29,000 32,462 51,018 204,434 Recoveries 1,046 — 538 154 1,738 Loans charged off — — — (2,172) (2,172) Balance, ending $ 1,796,000 $ 947,000 $ 689,000 $ 327,000 $ 3,759,000 Residential Commercial Agricultural Real Estate Other Total For the three months ended September 30, 2016 Balance, beginning $ 1,337,000 $ 738,000 $ 655,000 $ 217,000 $ 2,947,000 Provision charged to expense 96,703 64,000 (38,225) 30,286 152,764 Recoveries 7,674 — 225 964 8,863 Loans charged off (47,867) — — (5,250) (53,117) Balance, ending $ 1,393,510 $ 802,000 $ 617,000 $ 243,000 $ 3,055,510 For commercial loans, agricultural loans, and construction and land 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, agricultural loans, and construction and land 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 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 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. The allowance for loan losses, by impairment evaluation and portfolio segment is summarized as follows: Residential Commercial Agricultural Real Estate Other Total September 30, 2017 Allowance for loans individually evaluated for impairment $ 22,633 $ 30,445 $ 41,206 $ 1,807 $ 96,091 Allowance for loans collectively evaluated for impairment 1,773,367 916,555 647,794 325,193 3,662,909 $ 1,796,000 $ 947,000 $ 689,000 $ 327,000 $ 3,759,000 Loans individually evaluated for impairment $ 1,026,830 $ 486,057 $ 3,081,718 $ 18,857 $ 4,613,462 Loans collectively evaluated for impairment 109,399,554 58,005,012 53,179,921 23,439,366 244,023,853 $ 110,426,384 $ 58,491,069 $ 56,261,639 $ 23,458,223 $ 248,637,315 Residential Commercial Agricultural Real Estate Other Total June 30, 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 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 · Prospects for future principal and interest payments are not in doubt The aging in terms of unpaid principal balance of the loan portfolio, by classes of loans is summarized as follows: > 90 days 31-60 days 61-90 days Past Due Non accrual Current Past Due Past Due (Nonaccrual) Total Loans September 30, 2017 Classes of loans: Commercial: Operating $ 20,907,328 $ — $ 17,457 $ 88,065 $ 21,012,850 $ 362,056 Real estate 89,413,534 — — — 89,413,534 627,117 Agricultural: Operating 27,653,547 — — — 27,653,547 — Real estate 30,366,465 — — 471,057 30,837,522 486,057 Residential real estate: 1-4 family 44,031,250 42,871 — 823,986 44,898,107 1,322,277 Home equity 11,356,742 6,790 — — 11,363,532 21,761 Other: Construction and land 19,716,368 — — — 19,716,368 — Consumer 3,738,987 — — 2,868 3,741,855 21,725 $ 247,184,221 $ 49,661 $ 17,457 $ 1,385,976 $ 248,637,315 $ 2,840,993 > 90 days 31-60 days 61-90 days Past Due Non accrual Current Past Due Past Due (Nonaccrual) Total Loans June 30, 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 For commercial, agriculture, and construction and land loans, the Company utilizes the following internal risk rating scale: Highest Quality (rating 1) -- 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. Good Quality (rating 2) -- 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. Acceptable Quality (rating 3) -- 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. Fair Quality (rating 4) -- 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. Special Mention (rating 5) -- 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. Substandard (rating 6) -- 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. Doubtful (rating 7) -- 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. Loss (rating 8) -- 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, agricultural and construction and land 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. For each class of loans, the following summarizes the unpaid principal balance by credit quality indicator as of: Other — Commercial — Commercial — Agricultural — Agricultural — Construction Operating Real Estate Operating Real Estate and Land Total September 30, 2017 Internally assigned risk rating: Highest Quality (rating 1) $ — $ — $ 406,038 $ 326,045 $ — $ 732,083 Good Quality (rating 2) 164,561 6,725,271 5,337,113 3,538,384 2,606,567 18,371,896 Acceptable Quality (rating 3) 9,433,973 45,673,386 9,246,950 11,823,831 12,729,538 88,907,678 Fair Quality (rating 4) 11,082,665 31,533,346 11,859,229 12,937,216 4,380,263 71,792,719 Special Mention (rating 5) — 3,140,303 600,000 295,000 — 4,035,303 Substandard (rating 6) 331,651 2,341,228 204,217 1,917,046 — 4,794,142 Doubtful (rating 7) — — — — — — Loss (rating 8) — — — — — — $ 21,012,850 $ 89,413,534 $ 27,653,547 $ 30,837,522 $ 19,716,368 $ 188,633,821 Other — Commercial — Commercial — Agricultural — Agricultural — Construction Operating Real Estate Operating Real Estate and Land Total June 30, 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 Residential RE — Residential RE — Other — 1-4 Family Home Equity Consumer Total September 30, 2017 Delinquency status*: Performing $ 43,532,959 $ 11,341,771 $ 3,720,130 $ 58,594,860 Nonperforming 1,365,148 21,761 21,725 1,408,634 $ 44,898,107 $ 11,363,532 $ 3,741,855 $ 60,003,494 Residential RE — Residential RE — Other — 1-4 Family Home Equity Consumer Total June 30, 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 * At September 30, 2017 and June 30, 2017, the Company had no loans greater than 90 days past due and still accruing. For commercial, agricultural, and construction and land loans, the Company’s credit quality indicator is internally assigned risk ratings. Each loan is assigned a risk rating upon origination. The risk rating is reviewed every 12 months, at a minimum, and on an as needed basis depending on the specific circumstances of the loan. For residential real estate and consumer 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 are summarized as follows: Unpaid Recorded Principal Related Investment Balance Allowance September 30, 2017 Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 214,079 $ 210,919 $ — Real estate 629,412 627,117 — Residential real estate: 1-4 family 2,409,291 2,387,146 — Home equity 6,262 6,251 - 3,259,044 3,231,433 — Impaired loans with specific allowance recorded: Commercial: Operating 190,218 188,794 22,633 Agricultural: Real estate 531,638 486,057 30,445 Residential real estate: 1-4 family 691,561 673,350 40,533 Home equity 15,009 14,971 673 Other: Consumer 18,927 18,857 1,807 1,447,353 1,382,029 96,091 Total impaired loans: Commercial: Operating 404,297 399,713 22,633 Real estate 629,412 627,117 — Agricultural: Real estate 531,638 486,057 30,445 Residential real estate: 1-4 family 3,100,852 3,060,496 40,533 Home equity 21,271 21,222 673 Other: Consumer 18,927 18,857 1,807 $ 4,706,397 $ 4,613,462 $ 96,091 Unpaid Recorded Principal Related Investment Balance Allowance June 30, 2017 Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 164,823 $ 164,128 $ — Real estate 643,226 640,881 — Agricultural: Operating 7,503 6,848 — Real estate 432,468 371,452 — Residential real estate: 1-4 family 2,448,574 2,439,137 — Home equity 7,880 7,868 — 3,704,474 3,630,314 — Impaired loans with specific allowance recorded: Commercial: Operating 65,701 65,369 6,487 Agricultural: Real estate 525,068 486,056 17,973 Residential real estate: 1-4 family 695,327 679,474 28,857 Home equity 15,553 15,541 414 Other: Consumer 20,433 20,408 1,949 1,322,082 1,266,848 55,680 Total impaired loans: Commercial: Operating 230,524 229,497 6,487 Real estate 643,226 640,881 — Agricultural: Operating 7,503 6,848 — Real estate 957,536 857,508 17,973 Residential real estate: 1-4 family 3,143,901 3,118,611 28,857 Home equity 23,433 23,409 414 Other: Consumer 20,433 20,408 1,949 $ 5,026,556 $ 4,897,162 $ 55,680 Impaired loans, for which no allowance has been provided as of September 30, 2017 and June 30, 2017, have adequate collateral, based on management’s current estimates. For the three months ended September 30, 2017 September 30, 2016 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 189,451 $ 3,006 $ 92,025 $ 1,114 Real estate 636,319 6,960 35,413 406 Agricultural: Operating — — 12,597 6,036 Real estate — — 431,652 — Residential real estate: 1-4 family 2,416,029 22,505 3,087,791 38,181 Home equity 6,330 96 26,502 431 Other: Consumer — — 3,411 39 3,248,129 32,567 3,689,391 46,207 Impaired loans with specific allowance recorded: Commercial: Operating 182,562 1,925 114,596 835 Real estate — — 47,209 — Agricultural: Real estate 528,353 245 487,147 — Residential real estate: 1-4 family 693,404 6,672 576,314 2,208 Home equity 15,281 244 50,112 792 Other: Consumer 19,680 175 — — 1,439,280 9,261 1,275,378 3,835 Total impaired loans: Commercial: Operating 372,013 4,931 206,621 1,949 Real estate 636,319 6,960 82,622 406 Agricultural: Operating — — 12,597 6,036 Real estate 528,353 245 918,799 — Residential real estate: 1-4 family 3,109,433 29,177 3,664,105 40,389 Home equity 21,611 340 76,614 1,223 Other: Consumer 19,680 175 3,411 39 $ 4,687,409 $ 41,828 $ 4,964,769 $ 50,042 The Company's troubled debt restructuring as of September 30, 2017 and June 30, 2017 were not material to the consolidated financial statements.

Borrowings

Borrowings	3 Months Ended
	Sep. 30, 2017
Borrowings
Borrowings	Note 5. Our borrowings consist primarily of advances from Federal Home Loan Bank of Topeka. At September 30, 2017, we had access to Federal Home Loan Bank advances up to $35.0 million. To the extent such borrowings have different terms to repricing than our deposits, they can change our interest rate risk profile. The following table sets forth information concerning balances and interest rates on our advances at September 30, 2017. At and during the period ended September 30, 2016 there were no advances outstanding. At or For the Three Months Ended September 30, 2017 Federal Home Loan Bank Advances: Maximum outstanding at any month end $ 16,008,400 Balance at the end of period 8,963,000 Average balance during period 7,985,450 Weighted average interest rate at the end of period 1.43 % Weighted average interest rate during period 1.34 %

Regulatory Matters

Regulatory Matters	3 Months Ended
	Sep. 30, 2017
Regulatory Matters
Regulatory Matters	Note 6. 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 September 30, 2017, that the Bank meets all capital adequacy requirements to which it is subject. 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 September 30, 2017 Total capital (to risk-weighted assets) $ 31,487 13.0 % $ 19,336 8.0 % $ 24,170 10.0 % Common equity Tier 1 capital (to risk-weighted assets) 28,456 11.8 % 10,877 4.5 % 15,711 6.5 % Tier 1 (core) capital (to risk-weighted assets) 28,456 11.8 % 14,502 6.0 % 19,336 8.0 % Tier 1 (core) capital (to adjusted total assets) 28,456 11.0 % 10,357 4.0 % 12,946 5.0 % 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 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 % 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%; (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 bue utilized for such actions. The minimum requirements do not include the capital conservation buffer.

Employee Benefit Plan

Employee Benefit Plan	3 Months Ended
	Sep. 30, 2017
Employee Benefit Plan
Employee Benefit Plan	Note 7. Employee Benefit Plan 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. The Company made contributions of $36,198 and $29,699 during the three months ended Septebmer 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 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 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 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 recorded compensation expense of $40,321 and $34,240 for the three months ended September 30, 2017 and 2016, respectively. Shares held by the ESOP were as follows: September 30, 2017 June 30, 2017 Allocated shares 85,613 86,104 Shares allocated to be released 11,895 7,929 Unearned ESOP shares 130,877 134,843 Total ESOP shares 228,385 228,876 Fair value of unearned ESOP shares $ 1,348,033 $ 1,348,430 Fair value of allocated shares subject to repurchase obligation $ 836,010 $ 815,280 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 the 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 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 September 30, 2017, 158,653 stock options and 63,461 stock awards were awarded. These options and awards were all granted in Febuary 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, 2017 158,653 $ 9.90 9.20 Granted — — — Options outstanding at September 30, 2017 158,653 $ 9.90 9.20 The cost of the stock options will be amortized in monthly installments over the noted five-year vesting period, with the first vesting date on February 21, 2018. Stock option expense for the three months ended September 30, 2017 was $10,550. There was no compensation expense for the three months ended September 30, 2016. Effective July 1, 2017, the Company adopted ASU 2016-09. This ASU did not have a material impact on the Company’s financial statements. 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. As of September 30, 2017, there was $632,522 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 4.1 years. Compensation expense attributable to the restricted stock awards totaled $45,993 and $14,569 for the three months ended September 30, 2017 and 2016, respectively. 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, 2017 89,125 $ 4.32 Vested 6,313 5.38 Non-vested at September 30, 2017 82,812 $ 4.32

Earnings per Share

Earnings per Share	3 Months Ended
	Sep. 30, 2017
Earnings per Share
Earnings per Share	Note 8. 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 three months ended September 30, 2017 and 2016: For the three months ended September 30, 2017 2016 Weighted average common shares outstanding 3,327,397 3,287,347 Net income available to common stockholders $ 328,318 $ 265,058 Basic earnings per share $ 0.10 $ 0.08 The following table presents a reconciliation of the components used to compute diluted earnings per share for the three montsh ended September 30, 2017 and 2016: For the three months ended September 30, 2017 2016 Weighted average common shares outstanding 3,327,397 3,287,347 Weighted average of net additional shares from restricted stock awards 12,476 15,769 Weighted average number of shares outstanding 3,339,873 3,303,116 Net income available to common stockholders $ 328,318 $ 265,058 Diluted earnings per share $ 0.10 $ 0.08 As of September 30, 2017, 158,653 of the outstanding stock options were not included in the computation of diluted earnings per share because the exercise price of the stock options were greater than the average market price of the common shares.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Sep. 30, 2017
Fair Value Measurements
Fair Value Measurements	Note 9. 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 three months ended September 30, 2017, nor were there any changes in valuation techniques used for assets or liabilities measured at fair value at September 30, 2017. 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 September 30, 2017 and June 30, 2017, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Fair Value Measurement at September 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 $ 1,385,153 $ — $ 1,385,153 $ — 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 $ — 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 September 30, 2017 and June 30, 2017 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. 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 funds purchased — For federal funds purchased, the carrying value approximates fair value. 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. There 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 September 30, 2017 Hierarchy Level Amount Fair Value Financial assets: Cash and due from financial institutions Level 1 $ 4,593,564 $ 4,594,000 Securities available-for-sale See previous table 1,385,153 1,385,000 Securities held-to-maturity Level 2 729,076 738,000 Federal Home Loan Bank stock Level 1 459,100 459,000 Loans, net Level 2 245,504,612 241,343,000 Mortgage servicing rights Level 2 853,997 1,089,000 Accrued interest receivable Level 1 1,732,728 1,733,000 Financial liabilities: Noninterest-bearing deposits Level 2 27,951,900 27,952,000 Interest-bearing deposits Level 2 187,205,987 188,914,000 Federal funds purchased Level 1 564,000 564,000 Federal Home Loan Bank Borrowings Level 2 8,963,000 8,963,000 Accrued interest payable and other liabilities Level 1 1,073,664 1,074,000 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 funds purchased Level 2 399,000 399,000 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

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Sep. 30, 2017
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss	Note 10. Accumulated other comprehensive loss components were as follows: September 30, 2017 June 30, 2017 Unrealized holding losses on securities available-for-sale $ (4,795) $ (16,034) Tax expense 1,630 5,452 $ (3,165) $ (10,582)

Income Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2017
Income Taxes
Income Taxes	Note 11. Three months ended September 30, 2017 September 30, 2016 Provision computed at the statutory federal tax rate $ (175,393) $ (133,797) State income taxes, net of federal tax (16,401) (12,040) Release of unearned EOSP shares and stock awards 6,181 3,192 Nondeductible expenses (1,932) (1,648) Other — 15,831 $ (187,545) $ (128,462)

Stock Buyback

Stock Buyback	3 Months Ended
	Sep. 30, 2017
Stock Buyback
Stock Buyback	Note 12. 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. The Company repurchased 3,600 shares of common stock during the three months ended September 30, 2017. The stock repurchase plan expired on October 7, 2017. The following table provides information regarding the Company’s purchase of its common stock during the three months ended September 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 07/01/17 - 07/31/17 1,600 $ 10.20 169,686 4,171 08/01/17 - 08/31/17 2,000 10.15 171,686 2,171 09/01/17 - 09/30/17 — — 171,686 2,171 Total 3,600 $ 10.17

Securities (Tables)

Securities (Tables)	3 Months Ended
	Sep. 30, 2017
Securities
Schedule of securities available-for-sale	Gross Gross Amortized Unrealized Unrealized September 30, 2017 Cost Gains Losses Fair Value U.S. Government-sponsored agencies securities $ 987,532 $ — $ (6,474) $ 981,058 Residential mortgage-backed securities 402,416 1,919 (240) 404,095 $ 1,389,948 $ 1,919 $ (6,714) $ 1,385,153 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
Schedule of securities held-to-maturity	Gross Gross Amortized Unrealized Unrealized September 30, 2017 Cost Gains Losses Fair Value Residential mortgage-backed securities $ 129,076 $ 9,421 $ — $ 138,497 Municipal securities 600,000 — (746) 599,254 $ 729,076 $ 9,421 $ (746) $ 737,751 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

Loans (Tables)

Loans (Tables)	3 Months Ended
	Sep. 30, 2017
Loans
Summary of loans	September 30, 2017 June 30, 2017 Commercial: Operating $ 21,012,850 $ 20,139,045 Real estate 89,413,534 86,809,938 Agricultural: Operating 27,653,547 26,739,407 Real estate 30,837,522 31,105,790 Residential real estate: 1-4 family 44,898,107 43,060,013 Home equity 11,363,532 11,748,363 Other: Construction and land 19,716,368 16,175,698 Consumer 3,741,855 3,674,674 Total loans 248,637,315 239,452,928 Deferred loan origination costs, net 626,297 647,197 Allowance for loan losses (3,759,000) (3,555,000) (3,132,703) (2,907,803) Loans, net $ 245,504,612 $ 236,545,125
Summary of changes in the allowance for loan losses by portfolio segment	Residential Commercial Agricultural Real Estate Other Total For the three months ended September 30, 2017 Balance, beginning $ 1,703,000 $ 918,000 $ 656,000 $ 278,000 $ 3,555,000 Provision charged to expense 91,954 29,000 32,462 51,018 204,434 Recoveries 1,046 — 538 154 1,738 Loans charged off — — — (2,172) (2,172) Balance, ending $ 1,796,000 $ 947,000 $ 689,000 $ 327,000 $ 3,759,000 Residential Commercial Agricultural Real Estate Other Total For the three months ended September 30, 2016 Balance, beginning $ 1,337,000 $ 738,000 $ 655,000 $ 217,000 $ 2,947,000 Provision charged to expense 96,703 64,000 (38,225) 30,286 152,764 Recoveries 7,674 — 225 964 8,863 Loans charged off (47,867) — — (5,250) (53,117) Balance, ending $ 1,393,510 $ 802,000 $ 617,000 $ 243,000 $ 3,055,510
Summary of allowance for loan losses by impairment evaluation and portfolio segment	Residential Commercial Agricultural Real Estate Other Total September 30, 2017 Allowance for loans individually evaluated for impairment $ 22,633 $ 30,445 $ 41,206 $ 1,807 $ 96,091 Allowance for loans collectively evaluated for impairment 1,773,367 916,555 647,794 325,193 3,662,909 $ 1,796,000 $ 947,000 $ 689,000 $ 327,000 $ 3,759,000 Loans individually evaluated for impairment $ 1,026,830 $ 486,057 $ 3,081,718 $ 18,857 $ 4,613,462 Loans collectively evaluated for impairment 109,399,554 58,005,012 53,179,921 23,439,366 244,023,853 $ 110,426,384 $ 58,491,069 $ 56,261,639 $ 23,458,223 $ 248,637,315 Residential Commercial Agricultural Real Estate Other Total June 30, 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
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 September 30, 2017 Classes of loans: Commercial: Operating $ 20,907,328 $ — $ 17,457 $ 88,065 $ 21,012,850 $ 362,056 Real estate 89,413,534 — — — 89,413,534 627,117 Agricultural: Operating 27,653,547 — — — 27,653,547 — Real estate 30,366,465 — — 471,057 30,837,522 486,057 Residential real estate: 1-4 family 44,031,250 42,871 — 823,986 44,898,107 1,322,277 Home equity 11,356,742 6,790 — — 11,363,532 21,761 Other: Construction and land 19,716,368 — — — 19,716,368 — Consumer 3,738,987 — — 2,868 3,741,855 21,725 $ 247,184,221 $ 49,661 $ 17,457 $ 1,385,976 $ 248,637,315 $ 2,840,993 > 90 days 31-60 days 61-90 days Past Due Non accrual Current Past Due Past Due (Nonaccrual) Total Loans June 30, 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
Summary of unpaid principal balance by credit quality indicator	Other — Commercial — Commercial — Agricultural — Agricultural — Construction Operating Real Estate Operating Real Estate and Land Total September 30, 2017 Internally assigned risk rating: Highest Quality (rating 1) $ — $ — $ 406,038 $ 326,045 $ — $ 732,083 Good Quality (rating 2) 164,561 6,725,271 5,337,113 3,538,384 2,606,567 18,371,896 Acceptable Quality (rating 3) 9,433,973 45,673,386 9,246,950 11,823,831 12,729,538 88,907,678 Fair Quality (rating 4) 11,082,665 31,533,346 11,859,229 12,937,216 4,380,263 71,792,719 Special Mention (rating 5) — 3,140,303 600,000 295,000 — 4,035,303 Substandard (rating 6) 331,651 2,341,228 204,217 1,917,046 — 4,794,142 Doubtful (rating 7) — — — — — — Loss (rating 8) — — — — — — $ 21,012,850 $ 89,413,534 $ 27,653,547 $ 30,837,522 $ 19,716,368 $ 188,633,821 Other — Commercial — Commercial — Agricultural — Agricultural — Construction Operating Real Estate Operating Real Estate and Land Total June 30, 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 Residential RE — Residential RE — Other — 1-4 Family Home Equity Consumer Total September 30, 2017 Delinquency status*: Performing $ 43,532,959 $ 11,341,771 $ 3,720,130 $ 58,594,860 Nonperforming 1,365,148 21,761 21,725 1,408,634 $ 44,898,107 $ 11,363,532 $ 3,741,855 $ 60,003,494 Residential RE — Residential RE — Other — 1-4 Family Home Equity Consumer Total June 30, 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
Summary of loans, by classes of loans, considered to be impaired	Unpaid Recorded Principal Related Investment Balance Allowance September 30, 2017 Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 214,079 $ 210,919 $ — Real estate 629,412 627,117 — Residential real estate: 1-4 family 2,409,291 2,387,146 — Home equity 6,262 6,251 - 3,259,044 3,231,433 — Impaired loans with specific allowance recorded: Commercial: Operating 190,218 188,794 22,633 Agricultural: Real estate 531,638 486,057 30,445 Residential real estate: 1-4 family 691,561 673,350 40,533 Home equity 15,009 14,971 673 Other: Consumer 18,927 18,857 1,807 1,447,353 1,382,029 96,091 Total impaired loans: Commercial: Operating 404,297 399,713 22,633 Real estate 629,412 627,117 — Agricultural: Real estate 531,638 486,057 30,445 Residential real estate: 1-4 family 3,100,852 3,060,496 40,533 Home equity 21,271 21,222 673 Other: Consumer 18,927 18,857 1,807 $ 4,706,397 $ 4,613,462 $ 96,091 Unpaid Recorded Principal Related Investment Balance Allowance June 30, 2017 Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 164,823 $ 164,128 $ — Real estate 643,226 640,881 — Agricultural: Operating 7,503 6,848 — Real estate 432,468 371,452 — Residential real estate: 1-4 family 2,448,574 2,439,137 — Home equity 7,880 7,868 — 3,704,474 3,630,314 — Impaired loans with specific allowance recorded: Commercial: Operating 65,701 65,369 6,487 Agricultural: Real estate 525,068 486,056 17,973 Residential real estate: 1-4 family 695,327 679,474 28,857 Home equity 15,553 15,541 414 Other: Consumer 20,433 20,408 1,949 1,322,082 1,266,848 55,680 Total impaired loans: Commercial: Operating 230,524 229,497 6,487 Real estate 643,226 640,881 — Agricultural: Operating 7,503 6,848 — Real estate 957,536 857,508 17,973 Residential real estate: 1-4 family 3,143,901 3,118,611 28,857 Home equity 23,433 23,409 414 Other: Consumer 20,433 20,408 1,949 $ 5,026,556 $ 4,897,162 $ 55,680 Impaired loans, for which no allowance has been provided as of September 30, 2017 and June 30, 2017, have adequate collateral, based on management’s current estimates. For the three months ended September 30, 2017 September 30, 2016 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 189,451 $ 3,006 $ 92,025 $ 1,114 Real estate 636,319 6,960 35,413 406 Agricultural: Operating — — 12,597 6,036 Real estate — — 431,652 — Residential real estate: 1-4 family 2,416,029 22,505 3,087,791 38,181 Home equity 6,330 96 26,502 431 Other: Consumer — — 3,411 39 3,248,129 32,567 3,689,391 46,207 Impaired loans with specific allowance recorded: Commercial: Operating 182,562 1,925 114,596 835 Real estate — — 47,209 — Agricultural: Real estate 528,353 245 487,147 — Residential real estate: 1-4 family 693,404 6,672 576,314 2,208 Home equity 15,281 244 50,112 792 Other: Consumer 19,680 175 — — 1,439,280 9,261 1,275,378 3,835 Total impaired loans: Commercial: Operating 372,013 4,931 206,621 1,949 Real estate 636,319 6,960 82,622 406 Agricultural: Operating — — 12,597 6,036 Real estate 528,353 245 918,799 — Residential real estate: 1-4 family 3,109,433 29,177 3,664,105 40,389 Home equity 21,611 340 76,614 1,223 Other: Consumer 19,680 175 3,411 39 $ 4,687,409 $ 41,828 $ 4,964,769 $ 50,042

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Sep. 30, 2017
Borrowings
Schedule of balances and interest rates of advances	At or For the Three Months Ended September 30, 2017 Federal Home Loan Bank Advances: Maximum outstanding at any month end $ 16,008,400 Balance at the end of period 8,963,000 Average balance during period 7,985,450 Weighted average interest rate at the end of period 1.43 % Weighted average interest rate during period 1.34 %

Regulatory Matters (Tables)

Regulatory Matters (Tables)	3 Months Ended
	Sep. 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 September 30, 2017 Total capital (to risk-weighted assets) $ 31,487 13.0 % $ 19,336 8.0 % $ 24,170 10.0 % Common equity Tier 1 capital (to risk-weighted assets) 28,456 11.8 % 10,877 4.5 % 15,711 6.5 % Tier 1 (core) capital (to risk-weighted assets) 28,456 11.8 % 14,502 6.0 % 19,336 8.0 % Tier 1 (core) capital (to adjusted total assets) 28,456 11.0 % 10,357 4.0 % 12,946 5.0 % 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 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 %

Employee Benefit Plan (Tables)

Employee Benefit Plan (Tables)	3 Months Ended
	Sep. 30, 2017
Employee Benefit Plan
Summary of ESOP shares	September 30, 2017 June 30, 2017 Allocated shares 85,613 86,104 Shares allocated to be released 11,895 7,929 Unearned ESOP shares 130,877 134,843 Total ESOP shares 228,385 228,876 Fair value of unearned ESOP shares $ 1,348,033 $ 1,348,430 Fair value of allocated shares subject to repurchase obligation $ 836,010 $ 815,280
Schedule of stock option activity	Weighted Remaining Average Contractual Awards Exercise Price Life (Years) Options outstanding at July 1, 2017 158,653 $ 9.90 9.20 Granted — — — Options outstanding at September 30, 2017 158,653 $ 9.90 9.20
Schedule of restricted stock award activity	Service-Based Weighted Stock Grant Date Awards Fair Value Non-vested at July 1, 2017 89,125 $ 4.32 Vested 6,313 5.38 Non-vested at September 30, 2017 82,812 $ 4.32

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Sep. 30, 2017
Earnings per Share
Schedule of reconciliation of the components used to compute basic earnings per share	For the three months ended September 30, 2017 2016 Weighted average common shares outstanding 3,327,397 3,287,347 Net income available to common stockholders $ 328,318 $ 265,058 Basic earnings per share $ 0.10 $ 0.08
Schedule of reconciliation of the components used to compute diluted earnings per share	For the three months ended September 30, 2017 2016 Weighted average common shares outstanding 3,327,397 3,287,347 Weighted average of net additional shares from restricted stock awards 12,476 15,769 Weighted average number of shares outstanding 3,339,873 3,303,116 Net income available to common stockholders $ 328,318 $ 265,058 Diluted earnings per share $ 0.10 $ 0.08

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Sep. 30, 2017
Fair Value Measurements
Summary of fair value of assets and liabilities measured on a recurring basis	Fair Value Measurement at September 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 $ 1,385,153 $ — $ 1,385,153 $ — 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 $ —
Schedule of carrying and estimated fair value of financial instruments	Fair Value Carrying Estimated September 30, 2017 Hierarchy Level Amount Fair Value Financial assets: Cash and due from financial institutions Level 1 $ 4,593,564 $ 4,594,000 Securities available-for-sale See previous table 1,385,153 1,385,000 Securities held-to-maturity Level 2 729,076 738,000 Federal Home Loan Bank stock Level 1 459,100 459,000 Loans, net Level 2 245,504,612 241,343,000 Mortgage servicing rights Level 2 853,997 1,089,000 Accrued interest receivable Level 1 1,732,728 1,733,000 Financial liabilities: Noninterest-bearing deposits Level 2 27,951,900 27,952,000 Interest-bearing deposits Level 2 187,205,987 188,914,000 Federal funds purchased Level 1 564,000 564,000 Federal Home Loan Bank Borrowings Level 2 8,963,000 8,963,000 Accrued interest payable and other liabilities Level 1 1,073,664 1,074,000 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 funds purchased Level 2 399,000 399,000 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

Accumulated Other Comprehensi28

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Sep. 30, 2017
Accumulated Other Comprehensive Loss
Schedule of components of accumulated other comprehensive loss	September 30, 2017 June 30, 2017 Unrealized holding losses on securities available-for-sale $ (4,795) $ (16,034) Tax expense 1,630 5,452 $ (3,165) $ (10,582)

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Sep. 30, 2017
Income Taxes
Schedule of reconciliation of the provision for income taxes	Three months ended September 30, 2017 September 30, 2016 Provision computed at the statutory federal tax rate $ (175,393) $ (133,797) State income taxes, net of federal tax (16,401) (12,040) Release of unearned EOSP shares and stock awards 6,181 3,192 Nondeductible expenses (1,932) (1,648) Other — 15,831 $ (187,545) $ (128,462)

Stock Buyback (Tables)

Stock Buyback (Tables)	3 Months Ended
	Sep. 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 07/01/17 - 07/31/17 1,600 $ 10.20 169,686 4,171 08/01/17 - 08/31/17 2,000 10.15 171,686 2,171 09/01/17 - 09/30/17 — — 171,686 2,171 Total 3,600 $ 10.17

Securities (Details)

Securities (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	$ 1,389,948		$ 1,426,989
Investment securities available-for-sale , gross unrealized gains	1,919		1,973
Investment securities available-for-sale , gross unrealized losses	(6,714)		(18,007)
Securities available-for-sale	1,385,153		1,410,955
Investment securities held-to-maturity, amortized cost	729,076		735,978
Investment securities held-to-maturity , gross unrealized gains	9,421		10,279
Investment securities held-to-maturity , gross unrealized losses	(746)		(384)
Investment securities held-to-maturity, estimated fair value	737,751		745,873
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]
Interest income	16,913	$ 8,730
Securities sold	0	$ 0
Residential mortgage-backed securities
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	402,416		440,070
Investment securities available-for-sale , gross unrealized gains	1,919		1,973
Investment securities available-for-sale , gross unrealized losses	(240)		(33)
Securities available-for-sale	404,095		442,010
Investment securities held-to-maturity, amortized cost	129,076		135,978
Investment securities held-to-maturity , gross unrealized gains	9,421		10,279
Investment securities held-to-maturity, estimated fair value	138,497		146,257
Municipal securities
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities held-to-maturity, amortized cost	600,000		600,000
Investment securities held-to-maturity , gross unrealized losses	(746)		(384)
Investment securities held-to-maturity, estimated fair value	599,254		599,616
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]
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	987,532		986,919
Investment securities available-for-sale , gross unrealized losses	(6,474)		(17,974)
Securities available-for-sale	981,058		$ 968,945
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]
Securities maturing in the year ending June 30, 2023	$ 981,000

Loans (Details)

Loans (Details) - USD ($)	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Jun. 30, 2016
Loans disclosures
Total loans	$ 248,637,315	$ 239,452,928
Deferred loan origination costs, net	626,297	647,197
Allowance for loan losses	(3,759,000)	(3,555,000)	$ (3,055,510)	$ (2,947,000)
Deferred loan origination costs and allowance	(3,132,703)	(2,907,803)
Loans, net	245,504,612	236,545,125
Commercial
Loans disclosures
Total loans	110,426,384	106,948,983
Allowance for loan losses	(1,796,000)	(1,703,000)	(1,393,510)	(1,337,000)
Commercial | Operating
Loans disclosures
Total loans	21,012,850	20,139,045
Commercial | Real Estate
Loans disclosures
Total loans	89,413,534	86,809,938
Agricultural
Loans disclosures
Total loans	58,491,069	57,845,197
Allowance for loan losses	(947,000)	(918,000)	(802,000)	(738,000)
Agricultural | Operating
Loans disclosures
Total loans	27,653,547	26,739,407
Agricultural | Real Estate
Loans disclosures
Total loans	30,837,522	31,105,790
Residential
Loans disclosures
Total loans	56,261,639	54,808,376
Allowance for loan losses	(689,000)	(656,000)	(617,000)	(655,000)
Residential | 1 - 4 family
Loans disclosures
Total loans	44,898,107	43,060,013
Residential | Consumer - Home equity and lines of credit
Loans disclosures
Total loans	11,363,532	11,748,363
Other
Loans disclosures
Total loans	23,458,223	19,850,372
Allowance for loan losses	(327,000)	(278,000)	$ (243,000)	$ (217,000)
Other | Construction and land
Loans disclosures
Total loans	19,716,368	16,175,698
Other | Consumer - Personal
Loans disclosures
Total loans	$ 3,741,855	$ 3,674,674

Loans - Allowance for Loan Loss

Loans - Allowance for Loan Losses (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Allowance for loan losses:
Balance, beginning	$ 3,555,000	$ 2,947,000
Provision charged to expense	204,434	152,764
Recoveries	1,738	8,863
Loans charged off	(2,172)	(53,117)
Balance, ending	3,759,000	3,055,510
Commercial
Allowance for loan losses:
Balance, beginning	1,703,000	1,337,000
Provision charged to expense	91,954	96,703
Recoveries	1,046	7,674
Loans charged off		(47,867)
Balance, ending	1,796,000	1,393,510
Agricultural
Allowance for loan losses:
Balance, beginning	918,000	738,000
Provision charged to expense	29,000	64,000
Balance, ending	947,000	802,000
Residential
Allowance for loan losses:
Balance, beginning	656,000	655,000
Provision charged to expense	32,462	(38,225)
Recoveries	538	225
Balance, ending	689,000	617,000
Other
Allowance for loan losses:
Balance, beginning	278,000	217,000
Provision charged to expense	51,018	30,286
Recoveries	154	964
Loans charged off	(2,172)	(5,250)
Balance, ending	$ 327,000	$ 243,000

Loans - Impairment Evaluation (

Loans - Impairment Evaluation (Details) - USD ($)	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Jun. 30, 2016
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	$ 96,091	$ 55,680
Allowance for loans collectively evaluated for impairment	3,662,909	3,499,320
Total Allowance	3,759,000	3,555,000	$ 3,055,510	$ 2,947,000
Loan balances
Loans individually evaluated for impairment	4,613,462	4,897,162
Loans collectively evaluated for impairment	244,023,853	234,555,766
Total loans	248,637,315	239,452,928
Commercial
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	22,633	6,487
Allowance for loans collectively evaluated for impairment	1,773,367	1,696,513
Total Allowance	1,796,000	1,703,000	1,393,510	1,337,000
Loan balances
Loans individually evaluated for impairment	1,026,830	870,377
Loans collectively evaluated for impairment	109,399,554	106,078,606
Total loans	110,426,384	106,948,983
Agricultural
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	30,445	17,973
Allowance for loans collectively evaluated for impairment	916,555	900,027
Total Allowance	947,000	918,000	802,000	738,000
Loan balances
Loans individually evaluated for impairment	486,057	864,357
Loans collectively evaluated for impairment	58,005,012	56,980,840
Total loans	58,491,069	57,845,197
Residential
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	41,206	29,271
Allowance for loans collectively evaluated for impairment	647,794	626,729
Total Allowance	689,000	656,000	617,000	655,000
Loan balances
Loans individually evaluated for impairment	3,081,718	3,142,020
Loans collectively evaluated for impairment	53,179,921	51,666,356
Total loans	56,261,639	54,808,376
Other
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	1,807	1,949
Allowance for loans collectively evaluated for impairment	325,193	276,051
Total Allowance	327,000	278,000	$ 243,000	$ 217,000
Loan balances
Loans individually evaluated for impairment	18,857	20,408
Loans collectively evaluated for impairment	23,439,366	19,829,964
Total loans	$ 23,458,223	$ 19,850,372

Loans - Aging Unpaid Principal

Loans - Aging Unpaid Principal (Details) - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Summary of aging in terms of unpaid principal balance
Current	$ 247,184,221	$ 238,163,129
Total loans	248,637,315	239,452,928
Nonaccrual Loans	2,840,993	2,381,879
31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	49,661	278,263
61 to 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	17,457	16,987
Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	1,385,976	994,549
Commercial
Summary of aging in terms of unpaid principal balance
Total loans	110,426,384	106,948,983
Commercial | Operating
Summary of aging in terms of unpaid principal balance
Current	20,907,328	20,072,350
Total loans	21,012,850	20,139,045
Nonaccrual Loans	362,056	154,671
Commercial | Operating | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due		33,060
Commercial | Operating | 61 to 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	17,457	13,240
Commercial | Operating | Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	88,065	20,395
Commercial | Real Estate
Summary of aging in terms of unpaid principal balance
Current	89,413,534	86,809,938
Total loans	89,413,534	86,809,938
Nonaccrual Loans	627,117	640,881
Agricultural
Summary of aging in terms of unpaid principal balance
Total loans	58,491,069	57,845,197
Agricultural | Operating
Summary of aging in terms of unpaid principal balance
Current	27,653,547	26,699,805
Total loans	27,653,547	26,739,407
Nonaccrual Loans		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
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	30,366,465	30,263,281
Total loans	30,837,522	31,105,790
Nonaccrual Loans	486,057	857,509
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	471,057	794,609
Residential
Summary of aging in terms of unpaid principal balance
Total loans	56,261,639	54,808,376
Residential | 1 - 4 family
Summary of aging in terms of unpaid principal balance
Current	44,031,250	42,722,767
Total loans	44,898,107	43,060,013
Nonaccrual Loans	1,322,277	675,197
Residential | 1 - 4 family | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	42,871	164,549
Residential | 1 - 4 family | Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	823,986	172,697
Residential | Consumer - Home equity and lines of credit
Summary of aging in terms of unpaid principal balance
Current	11,356,742	11,748,363
Total loans	11,363,532	11,748,363
Nonaccrual Loans	21,761	22,649
Residential | Consumer - Home equity and lines of credit | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	6,790
Other
Summary of aging in terms of unpaid principal balance
Total loans	23,458,223	19,850,372
Other | Construction and land
Summary of aging in terms of unpaid principal balance
Current	19,716,368	16,175,698
Total loans	19,716,368	16,175,698
Other | Consumer - Personal
Summary of aging in terms of unpaid principal balance
Current	3,738,987	3,670,927
Total loans	3,741,855	3,674,674
Nonaccrual Loans	21,725	24,124
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	$ 2,868

Loans - Credit Quality (Details

Loans - Credit Quality (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Jun. 30, 2017
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 248,637,315	$ 239,452,928
Performing Financing Receivable Maximum Days Past Due	31 days
Nonperforming Financing Receivable Minimum Days Past Due	31 days
Maximum aggregate exposure not requiring a loan review within 12 months of most recent credit review	$ 250,000
Loans 90 days past due and still accruing	0	0
Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 188,633,821	180,969,878
Financing Receivable Risk Rating Minimum Review Period	12 months
Commercial
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 110,426,384	106,948,983
Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	21,012,850	20,139,045
Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	89,413,534	86,809,938
Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	58,491,069	57,845,197
Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	27,653,547	26,739,407
Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	30,837,522	31,105,790
Residential Real Estate and Other Combined
Unpaid principal balance by credit quality indicator
Unpaid principal balance	60,003,494	58,483,050
Residential
Unpaid principal balance by credit quality indicator
Unpaid principal balance	56,261,639	54,808,376
Residential | 1 - 4 family
Unpaid principal balance by credit quality indicator
Unpaid principal balance	44,898,107	43,060,013
Residential | Consumer - Home equity and lines of credit
Unpaid principal balance by credit quality indicator
Unpaid principal balance	11,363,532	11,748,363
Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	23,458,223	19,850,372
Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	19,716,368	16,175,698
Other | Consumer - Personal
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,741,855	3,674,674
Highest Quality (rating 1) | Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	732,083	650,083
Highest Quality (rating 1) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	406,038	324,038
Highest Quality (rating 1) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	326,045	326,045
Good Quality (rating 2) | Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	18,371,896	18,412,202
Good Quality (rating 2) | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	164,561	177,795
Good Quality (rating 2) | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	6,725,271	6,638,998
Good Quality (rating 2) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	5,337,113	5,185,147
Good Quality (rating 2) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,538,384	3,541,630
Good Quality (rating 2) | Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	2,606,567	2,868,632
Acceptable Quality (rating 3) | Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	88,907,678	84,763,249
Acceptable Quality (rating 3) | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	9,433,973	8,470,283
Acceptable Quality (rating 3) | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	45,673,386	44,240,531
Acceptable Quality (rating 3) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	9,246,950	9,271,425
Acceptable Quality (rating 3) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	11,823,831	12,354,765
Acceptable Quality (rating 3) | Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	12,729,538	10,426,245
Fair Quality (rating 4) | Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	71,792,719	70,403,654
Fair Quality (rating 4) | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	11,082,665	11,313,276
Fair Quality (rating 4) | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	31,533,346	31,603,455
Fair Quality (rating 4) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	11,859,229	11,489,750
Fair Quality (rating 4) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	12,937,216	13,116,352
Fair Quality (rating 4) | Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	4,380,263	2,880,821
Special Mention | Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	4,035,303	2,351,251
Special Mention | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,140,303	1,948,017
Special Mention | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	600,000	403,234
Special Mention | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	295,000
Substandard | Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	4,794,142	4,389,439
Substandard | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	331,651	177,691
Substandard | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	2,341,228	2,378,937
Substandard | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	204,217	65,813
Substandard | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	1,917,046	1,766,998
Performing | Residential Real Estate and Other Combined
Unpaid principal balance by credit quality indicator
Unpaid principal balance	58,594,860	57,596,501
Performing | Residential | 1 - 4 family
Unpaid principal balance by credit quality indicator
Unpaid principal balance	43,532,959	42,220,268
Performing | Residential | Consumer - Home equity and lines of credit
Unpaid principal balance by credit quality indicator
Unpaid principal balance	11,341,771	11,725,714
Performing | Other | Consumer - Personal
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,720,130	3,650,519
Nonperforming | Residential Real Estate and Other Combined
Unpaid principal balance by credit quality indicator
Unpaid principal balance	1,408,634	886,549
Nonperforming | Residential | 1 - 4 family
Unpaid principal balance by credit quality indicator
Unpaid principal balance	1,365,148	839,745
Nonperforming | Residential | Consumer - Home equity and lines of credit
Unpaid principal balance by credit quality indicator
Unpaid principal balance	21,761	22,649
Nonperforming | Other | Consumer - Personal
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 21,725	$ 24,155

Loans - Impaired (Details)

Loans - Impaired (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
Impaired loans with no specific allowance recorded:
Recorded Investment	$ 3,259,044		$ 3,704,474
Unpaid Principal Balance	3,231,433		3,630,314
Average Recorded Investment	3,248,129	$ 3,689,391
Interest Income Recognized	32,567	46,207
Impaired loans with specific allowance recorded:
Recorded Investment	1,447,353		1,322,082
Unpaid Principal Balance	1,382,029		1,266,848
Related Allowance	96,091		55,680
Average Recorded Investment	1,439,280	1,275,378
Interest Income Recognized	9,261	3,835
Total impaired loans:
Recorded Investment	4,706,397		5,026,556
Unpaid Principal Balance	4,613,462		4,897,162
Related Allowance	96,091		55,680
Average Recorded Investment	4,687,409	4,964,769
Interest Income Recognized	41,828	50,042
Commercial | Operating
Impaired loans with no specific allowance recorded:
Recorded Investment	214,079		164,823
Unpaid Principal Balance	210,919		164,128
Average Recorded Investment	189,451	92,025
Interest Income Recognized	3,006	1,114
Impaired loans with specific allowance recorded:
Recorded Investment	190,218		65,701
Unpaid Principal Balance	188,794		65,369
Related Allowance	22,633		6,487
Average Recorded Investment	182,562	114,596
Interest Income Recognized	1,925	835
Total impaired loans:
Recorded Investment	404,297		230,524
Unpaid Principal Balance	399,713		229,497
Related Allowance	22,633		6,487
Average Recorded Investment	372,013	206,621
Interest Income Recognized	4,931	1,949
Commercial | Real Estate
Impaired loans with no specific allowance recorded:
Recorded Investment	629,412		643,226
Unpaid Principal Balance	627,117		640,881
Average Recorded Investment	636,319	35,413
Interest Income Recognized	6,960	406
Impaired loans with specific allowance recorded:
Average Recorded Investment		47,209
Total impaired loans:
Recorded Investment	629,412		643,226
Unpaid Principal Balance	627,117		640,881
Average Recorded Investment	636,319	82,622
Interest Income Recognized	6,960	406
Agricultural | Operating
Impaired loans with no specific allowance recorded:
Recorded Investment			7,503
Unpaid Principal Balance			6,848
Average Recorded Investment		12,597
Interest Income Recognized		6,036
Total impaired loans:
Recorded Investment			7,503
Unpaid Principal Balance			6,848
Average Recorded Investment		12,597
Interest Income Recognized		6,036
Agricultural | Real Estate
Impaired loans with no specific allowance recorded:
Recorded Investment			432,468
Unpaid Principal Balance			371,452
Average Recorded Investment		431,652
Impaired loans with specific allowance recorded:
Recorded Investment	531,638		525,068
Unpaid Principal Balance	486,057		486,056
Related Allowance	30,445		17,973
Average Recorded Investment	528,353	487,147
Interest Income Recognized	245
Total impaired loans:
Recorded Investment	531,638		957,536
Unpaid Principal Balance	486,057		857,508
Related Allowance	30,445		17,973
Average Recorded Investment	528,353	918,799
Interest Income Recognized	245
Residential | 1 - 4 family
Impaired loans with no specific allowance recorded:
Recorded Investment	2,409,291		2,448,574
Unpaid Principal Balance	2,387,146		2,439,137
Average Recorded Investment	2,416,029	3,087,791
Interest Income Recognized	22,505	38,181
Impaired loans with specific allowance recorded:
Recorded Investment	691,561		695,327
Unpaid Principal Balance	673,350		679,474
Related Allowance	40,533		28,857
Average Recorded Investment	693,404	576,314
Interest Income Recognized	6,672	2,208
Total impaired loans:
Recorded Investment	3,100,852		3,143,901
Unpaid Principal Balance	3,060,496		3,118,611
Related Allowance	40,533		28,857
Average Recorded Investment	3,109,433	3,664,105
Interest Income Recognized	29,177	40,389
Residential | Consumer - Home equity and lines of credit
Impaired loans with no specific allowance recorded:
Recorded Investment	6,262		7,880
Unpaid Principal Balance	6,251		7,868
Average Recorded Investment	6,330	26,502
Interest Income Recognized	96	431
Impaired loans with specific allowance recorded:
Recorded Investment	15,009		15,553
Unpaid Principal Balance	14,971		15,541
Related Allowance	673		414
Average Recorded Investment	15,281	50,112
Interest Income Recognized	244	792
Total impaired loans:
Recorded Investment	21,271		23,433
Unpaid Principal Balance	21,222		23,409
Related Allowance	673		414
Average Recorded Investment	21,611	76,614
Interest Income Recognized	340	1,223
Other | Consumer - Personal
Impaired loans with no specific allowance recorded:
Average Recorded Investment		3,411
Interest Income Recognized		39
Impaired loans with specific allowance recorded:
Recorded Investment	18,927		20,433
Unpaid Principal Balance	18,857		20,408
Related Allowance	1,807		1,949
Average Recorded Investment	19,680
Interest Income Recognized	175
Total impaired loans:
Recorded Investment	18,927		20,433
Unpaid Principal Balance	18,857		20,408
Related Allowance	1,807		$ 1,949
Average Recorded Investment	19,680	3,411
Interest Income Recognized	$ 175	$ 39

Borrowings (Details)

Borrowings (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Federal Home Loan Bank Borrowings
Advances from Federal Home Loan Banks	$ 8,963,000	$ 0
Maximum outstanding at any month end	16,008,400
Average balance during period	$ 7,985,450
Weighted average interest rate at the end of period	1.43%
Weighted average interest rate during period	1.34%
Federal Home Loan Bank of Topeka
Federal Home Loan Bank Borrowings
Amount of available advances	$ 35,000,000

Regulatory Matters (Details)

Regulatory Matters (Details) - Equitable Bank - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Compliance with regulatory capital requirements under banking regulations
Total capital (to risk weighted assets), amount	$ 31,487	$ 30,893
Total capital (to risk weighted assets), as a percent	13.00%	13.20%
Tier 1 (core) capital (to risk weighted assets), amount	$ 28,456	$ 27,956
Tier 1 (core) capital (to risk weighted assets), as a percent	11.80%	11.90%
Tier 1 (core) capital (to adjusted total assets), amount	$ 28,456	$ 27,956
Tier 1 (core) capital (to adjusted total assets), as a percent	11.00%	11.40%
Minimum Required for Capital Adequacy Purposes
Total capital (to risk weighted assets), amount	$ 19,336	$ 18,740
Total capital (to risk weighted assets), as a percent	8.00%	8.00%
Tier 1 (core) capital (to risk weighted assets), amount	$ 14,502	$ 14,055
Tier 1 (core) capital (to risk weighted assets), as a percent	6.00%	6.00%
Tier 1 (core) capital (to adjusted total assets), amount	$ 10,357	$ 9,806
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	$ 24,170	$ 23,425
Total capital (to risk weighted assets), as a percent	10.00%	10.00%
Tier 1 (core) capital (to risk weighted assets), amount	$ 19,336	$ 18,740
Tier 1 (core) capital (to risk weighted assets), as a percent	8.00%	8.00%
Tier 1 (core) capital (to adjusted total assets), amount	$ 12,946	$ 12,257
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	$ 28,456	$ 27,956
Tier 1 (core) capital (to risk weighted assets), as a percent	11.80%	11.90%
Minimum Required for Capital Adequacy Purposes
Tier 1 (core) capital (to risk weighted assets), amount	$ 10,877	$ 10,541
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	$ 15,711	$ 15,226
Tier 1 (core) capital (to risk weighted assets), as a percent	6.50%	6.50%

Regulatory Matters - Rules (Det

Regulatory Matters - Rules (Details) - Equitable Bank	3 Months Ended
	Sep. 30, 2017
Compliance with regulatory capital requirements under banking regulations
Assets maintained in housing-related finance and other specified assets (as a percent)	65.00%
Increase in Tier 1 capital to risk-weighted assets ratio (as a percent)	4.00%
Common equity Tier 1 capital conversation buffer ratio	2.50%
Common equity Tier 1 capital (to risk-weighted assets) phase in buffer schedule ratio (as a percent)	7.00%
Tier 1 capital to (risk-weighted assets) phase in buffer schedule ratio (as a percent)	8.50%
Total capital to (risk-weighted assets) phase in buffer schedule ratio (as a percent)	10.50%
New capital conservation buffer requirement beginning ratio	0.625%

Employee Benefit Plans - 401K (

Employee Benefit Plans - 401K (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Employee Benefit Plan
401(k) and profit sharing plans, minimum vesting period	1 year
401(k) and profit sharing plans, maximum vesting period	5 years
Company contributions to the 401(k) and profit sharing plans	$ 36,198	$ 29,699

Employee Benefit Plan - ESOP (D

Employee Benefit Plan - ESOP (Details) - USD ($)	Jul. 08, 2015	Nov. 08, 2005	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
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			$ 40,321	$ 34,240
Shares held by the ESOP
Allocated shares (in shares)			85,613		86,104
Shares allocated to be released			11,895		7,929
Unearned ESOP shares (in shares)			130,877		134,843
Total ESOP shares (in shares)			228,385		228,876
Fair value of unearned ESOP shares			$ 1,348,033		$ 1,348,430
Fair value of allocated shares subject to repurchase obligation			$ 836,010		$ 815,280

Employee Benefit Plan - Stock O

Employee Benefit Plan - Stock Options (Details) - $ / shares	3 Months Ended	12 Months Ended
	Sep. 30, 2017	Jun. 30, 2017
Summary of stock option activity
Options outstanding, beginning balance (in shares)	158,653
Options outstanding, ending balance (in shares)	158,653	158,653
Weighted average exercise price
Weighted average exercise price, beginning balance (in dollars per share)	$ 9.90
Weighted average exercise price, ending balance (in dollars per share)	$ 9.90	$ 9.90
Remaining contractual life (years)
Remaining contractual life of options outstanding	9 years 2 months 12 days	9 years 2 months 12 days
2016 Equity Incentive Plan | Stock options
Summary of stock option activity
Options outstanding, ending balance (in shares)	158,653
2016 Equity Incentive Plan | Restricted stock
Summary of stock option activity
Options outstanding, ending balance (in shares)	63,461

Employee Benefit Plan - Shares

Employee Benefit Plan - Shares Awarded (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
Share-based compensation
Award vesting period	5 years
Number of shares awarded	158,653		158,653
Stock options
Share-based compensation
Compensation expense	$ 10,550	$ 0
Restricted stock
Share-based compensation
Unrecognized compensation costs	$ 632,522
Period for recognizing unrecognized compensation	4 years 1 month 6 days
Compensation expense	$ 45,993	$ 14,569
Service-Based Stock Awards
Non-vested at beginning of the year (in shares)	89,125
Vested (in shares)	(6,313)
Non-vested at end of the year (in share)	82,812
Weighted Grant Date Fair Value
Non-vested at beginning of the year (in dollars per share)	$ 4.32
Vested (in dollars per share)	5.38
Non-vested at end of the year (in dollars per share)	$ 4.32
2016 Equity Incentive Plan | Stock options
Share-based compensation
Number of shares authorized	198,316
Number of shares awarded	158,653
2016 Equity Incentive Plan | Restricted stock
Share-based compensation
Number of shares authorized	79,326
Number of shares awarded	63,461

Earnings per Share - Basic (Det

Earnings per Share - Basic (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Components of basic earnings per share:
Weighted average common shares outstanding	3,327,397	3,287,347
Net income available to common stockholders	$ 328,318	$ 265,058
Basic earnings per share (in dollars per share)	$ 0.10	$ 0.08

Earnings per Share - Diluted (D

Earnings per Share - Diluted (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Components of diluted earnings per share:
Weighted average common shares outstanding	3,327,397	3,287,347
Weighted average of net additional shares from restricted stock awards	12,476	15,769
Weighted average number of shares outstanding	3,339,873	3,303,116
Net income available to common stockholders	$ 328,318	$ 265,058
Diluted earnings per share (in dollars per share)	$ 0.10	$ 0.08
Antidilutive securities excluded	158,653

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Assets and Liabilities Measured on Recurring Basis
Fair value asset transfers from Level 1 to Level 2	$ 0
Fair value asset transfers from Level 2 to Level 1	0
Fair value liability transfers from Level 1 to Level 2	0
Fair value liability transfers from Level 2 to Level 1	0
Assets:
Securities available-for-sale	1,385,153	$ 1,410,955
Recurring
Assets:
Securities available-for-sale	1,385,153	1,410,955
Recurring | Level 2
Assets:
Securities available-for-sale	$ 1,385,153	$ 1,410,955

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Financial assets:
Cash and due from financial institutions	$ 4,593,564	$ 4,881,007
Securities available-for-sale	1,385,153	1,410,955
Securities held-to-maturity	737,751	745,873
Federal Home Loan Bank stock	459,100	453,400
Loans, net	245,504,612	236,545,125
Accrued interest receivable	1,732,728	1,297,908
Financial liabilities:
Noninterest-bearing deposits	27,951,900	29,546,051
Interest-bearing deposits	187,205,987	179,512,265
Federal funds purchased	564,000	399,000
Federal Home Loan Bank borrowings	8,963,000	6,745,400
Accrued interest payable and other liabilities	1,073,664	820,229
Carrying Amount | Level 1
Financial assets:
Cash and due from financial institutions	4,593,564	4,881,007
Federal Home Loan Bank stock	459,100	453,400
Accrued interest receivable	1,732,728	1,297,908
Financial liabilities:
Federal funds purchased	564,000
Accrued interest payable and other liabilities	1,073,664	820,229
Carrying Amount | Level 2
Financial assets:
Securities available-for-sale	1,385,153	1,410,955
Securities held-to-maturity	729,076	735,978
Loans, net	245,504,612	236,545,125
Mortgage servicing rights	853,997	852,715
Financial liabilities:
Noninterest-bearing deposits	27,951,900	29,546,051
Interest-bearing deposits	187,205,987	179,512,265
Federal funds purchased		399,000
Federal Home Loan Bank borrowings	8,963,000	6,745,400
Estimated Fair Value | Level 1
Financial assets:
Cash and due from financial institutions	4,594,000	4,881,000
Federal Home Loan Bank stock	459,000	453,000
Accrued interest receivable	1,733,000	1,298,000
Financial liabilities:
Federal funds purchased	564,000
Accrued interest payable and other liabilities	1,074,000	820,000
Estimated Fair Value | Level 2
Financial assets:
Securities available-for-sale	1,385,000	1,411,000
Securities held-to-maturity	738,000	746,000
Loans, net	241,343,000	232,931,000
Mortgage servicing rights	1,089,000	1,089,000
Financial liabilities:
Noninterest-bearing deposits	27,952,000	29,546,000
Interest-bearing deposits	188,914,000	185,040,000
Federal funds purchased		399,000
Federal Home Loan Bank borrowings	$ 8,963,000	$ 6,745,000

Accumulated Other Comprehensi49

Accumulated Other Comprehensive Loss (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2017	Jun. 30, 2017
Accumulated Other Comprehensive Loss
Unrealized holding losses on securities available-for-sale	$ (4,795)	$ (16,034)
Tax expense	1,630	5,452
Total accumulated other comprehensive loss	$ (3,165)	$ (10,582)

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Provision computed at the statutory federal tax rate	$ (175,393)	$ (133,797)
State income taxes, net of federal tax	(16,401)	(12,040)
Release of unearned EOSP shares and stock awards	6,181	3,192
Nondeductible expenses	(1,932)	(1,648)
Other		15,831
Total income tax expense	$ (187,545)	$ (128,462)

Stock Buyback (Details)

Stock Buyback (Details) - Common Stock - $ / shares	Oct. 07, 2016	Sep. 30, 2017	Aug. 31, 2017	Jul. 31, 2017	Sep. 30, 2017
Common stock purchased during the period:
Shares purchased			2,000	1,600	3,600
Average price paid per share			$ 10.15	$ 10.20	$ 10.17
Stock Repurchase Plan
Common stock purchased during the period:
Current shares outstanding (as a percentage)	5.00%
Shares purchased		171,686	171,686	169,686
Maximum number of shares that may yet be purchased	173,857	2,171	2,171	4,171	2,171