Equitable Financial (EQFN) 10-Q 14 May 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2018	May 14, 2018
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	Mar. 31, 2018
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		3,317,670
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2018	Jun. 30, 2017
Assets
Cash and due from financial institutions	$ 7,669,608	$ 4,881,007
Interest-earning deposits	28,317,000
Total cash and due from financial institutions and interest-earning deposits	35,986,608	4,881,007
Securities available-for-sale	1,306,454	1,410,955
Securities held-to-maturity	710,943	735,978
Federal Home Loan Bank stock, at cost	282,300	453,400
Loans, net of allowance for loan losses of $4,598,000 and $3,555,000, respectively	255,946,923	236,545,125
Premises and equipment, net	5,369,485	5,424,855
Foreclosed assets, net	223,200	223,200
Accrued interest receivable	1,512,532	1,297,908
Deferred taxes, net	810,004	862,009
Customer list intangible	1,441,264	289,058
Other assets	2,077,815	1,718,993
Total assets	305,667,528	253,842,488
Liabilities:
Noninterest-bearing deposits	37,452,083	29,546,051
Interest-bearing deposits	223,257,251	179,512,265
Total deposits	260,709,334	209,058,316
Federal funds purchased		399,000
Federal Home Loan Bank Borrowings	5,000,000	6,745,400
Advance payments from borrowers for taxes and insurance	562,082	432,960
Accrued interest payable and other liabilities	2,743,811	820,229
Total liabilities	269,015,227	217,455,905
Common stock in ESOP subject to contingent repurchase obligation	992,922	815,280
Stockholders’ equity:
Common stock, $0.01 par value, 25,000,000 shares authorized 3,317,670 and 3,372,532 shares issued and outstanding at March 31, 2018 and June 30, 2017, respectively	33,177	33,725
Additional paid-in capital	25,213,501	25,794,124
Retained earnings	13,046,057	12,474,958
Unearned ESOP shares	(1,003,894)	(1,107,692)
Shares reserved for stock compensation	(608,620)	(797,950)
Accumulated other comprehensive loss net of tax	(27,920)	(10,582)
Reclassification of ESOP shares	(992,922)	(815,280)
Total stockholders' equity	35,659,379	35,571,303
Total liabilities and stockholders' equity	$ 305,667,528	$ 253,842,488

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2018	Jun. 30, 2017
Condensed Consolidated Statements of Financial Condition
Allowance for loan losses	$ 4,598,000	$ 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	3,317,670	3,372,532
Common Stock, shares outstanding	3,317,670	3,372,532

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Interest income:
Loans	$ 2,870,207	$ 2,301,482	$ 8,436,343	$ 6,737,414
Securities	15,113	13,417	47,940	32,500
Other	27,652	5,329	37,858	21,704
Total interest income	2,912,972	2,320,228	8,522,141	6,791,618
Interest expense:
Deposits	448,530	281,285	1,209,968	813,465
Federal Home Loan Bank borrowings	19,400	1,011	69,060	1,011
Other	1,237	595	4,895	1,357
Total interest expense	469,167	282,891	1,283,923	815,833
Net interest income	2,443,805	2,037,337	7,238,218	5,975,785
Provision for loan losses	134,497	60,830	1,001,836	382,703
Net interest income after provision for loan losses	2,309,308	1,976,507	6,236,382	5,593,082
Noninterest income:
Service charges on deposit accounts	164,781	150,976	491,359	468,544
Brokerage fee income	142,094	160,542	453,602	545,779
Gain on sale of loans	71,205	103,721	374,520	595,439
Other loan fees	73,286	57,644	180,477	208,947
Other income	60,869	38,930	263,189	107,231
Total noninterest income	512,235	511,813	1,763,147	1,925,940
Noninterest expense:
Salaries and employee benefits	1,299,035	1,225,488	3,847,371	3,538,488
Director and committee fees	39,042	41,557	123,242	122,342
Data processing fees	164,304	146,346	471,017	433,039
Occupancy and equipment	266,986	247,386	767,093	729,916
Regulatory fees and deposit insurance premium	70,144	42,804	183,401	126,003
Advertising and public relations	64,796	58,207	179,041	153,379
Professional fees	99,400	53,198	306,976	310,931
Supplies, telephone and postage	67,865	75,480	206,823	207,570
Other expenses	244,701	183,888	584,313	558,685
Total noninterest expense	2,316,273	2,074,354	6,669,277	6,180,353
Income before income taxes	505,270	413,966	1,330,252	1,338,669
Income tax expense	(155,170)	(138,620)	(759,153)	(488,801)
Net income	$ 350,100	$ 275,346	$ 571,099	$ 849,868
Basic earnings per share (in dollars per share)	$ 0.11	$ 0.08	$ 0.18	$ 0.26
Diluted earnings per share (in dollars per share)	$ 0.11	$ 0.08	$ 0.18	$ 0.25

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Condensed Consolidated Statements of Comprehensive Income
Net income	$ 350,100	$ 275,346	$ 571,099	$ 849,868
Other comprehensive gain/(loss):
Unrealized gain/(loss) on securities available-for-sale, net of tax	(14,211)	4,941	(17,338)	(22,306)
Comprehensive income	$ 335,889	$ 280,287	$ 553,761	$ 827,562

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - 9 months ended Mar. 31, 2018 - USD ($)	Common Equity	Additional Paid In Capital	Retained Earnings	Unearned ESOP Shares	Shares Reserved for Stock Compensation	Accumulated Other Comprehensive Income (Loss)	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			571,099					571,099
Other comprehensive loss						(17,338)		(17,338)
Release of 11,897 unearned ESOP shares		20,723		103,798				124,521
Stock compensation expense		(19,702)			189,330			169,628
Stock Buyback	(548)	(581,644)						(582,192)
Reclassification due to release and changes in fair value of common stock in ESOP subject to contingent repurchase obligation of ESOP shares							(177,642)	(177,642)
BALANCE at Mar. 31, 2018	$ 33,177	$ 25,213,501	$ 13,046,057	$ (1,003,894)	$ (608,620)	$ (27,920)	$ (992,922)	$ 35,659,379

Consolidated Statement of Chan7

Consolidated Statement of Changes in Stockholders' Equity (Parenthetical)	9 Months Ended
	Mar. 31, 2018shares
Condensed Consolidated Statements of Changes in Stockholders' Equity
Release of unearned ESOP shares (in shares)	11,897

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows from Operating Activities:
Net income	$ 571,099	$ 849,868
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	264,255	254,167
Federal Home Loan Bank stock dividends	(7,900)	(1,800)
ESOP expense	124,521	111,615
Stock compensation expense	169,628	57,701
Amortization of deferred loan origination costs, net	381,298	369,661
Amortization of intangibles	36,677	16,676
Amortization of premiums and discounts	903	8,641
Gain on sale of loans	(374,520)	(595,439)
(Gain)/Loss on sale of foreclosed assets	30,298	(4,579)
Loss on disposal of premises and equipment	5,078
Provision for loan losses	1,001,836	382,703
Deferred taxes	57,442	(67,456)
Loans originated for sale	(14,105,906)	(23,044,937)
Proceeds from sale of loans	14,350,012	23,355,172
Loss on investment in partnership		34,859
Changes in:
Accrued interest receivable	(214,624)	(85,835)
Other assets	(213,409)	(66,893)
Accrued interest payable and other liabilities	963,582	202,857
Net cash provided by operating activities	3,040,270	1,776,981
Cash Flows from Investing Activities:
Net change in loans	(21,310,398)	(23,303,567)
Proceeds from sale of foreclosed assets, net	491,288	243,226
Securities available-for-sale:
Proceeds from calls and principal repayments	80,909	175,728
Purchases		(985,400)
Securities held-to-maturity:
Proceeds from calls and principal repayments	24,948	35,374
Redemption of Federal Home Loan Bank stock	400,500
Purchases of Federal Home Loan Bank stock	(221,500)
Purchase of customer list intangible	(240,000)
Purchase of premises and equipment	(213,964)	(439,626)
Net cash used in investing activities	(20,988,217)	(24,274,265)
Cash Flows from Financing Activities:
Net change in deposits	51,651,018	15,926,015
Net change in federal funds purchased	(399,000)
Proceeds from Federal Home Loan Bank borrowings	23,000,000	2,620,000
Repayments of Federal Home Loan Bank borrowings	(24,745,400)	(2,620,000)
Net change in advance payments from borrowers for taxes and insurance	129,122	58,380
Stock Buyback	(582,192)	(1,027,463)
Net cash provided by financing activities	49,053,548	14,956,932
Increase/(Decrease) in cash and cash equivalents	31,105,601	(7,540,352)
Cash and Cash Equivalents:
Beginning	4,881,007	14,947,296
Ending	35,986,608	7,406,944
Supplemental Cash Flow Information:
Interest paid on deposits and borrowings	1,243,072	816,262
Income taxes paid	633,401	$ 162,879
Supplemental Noncash Disclosure:
Transfer of loans to foreclosed assets	521,586
Deferred payments on purchase of customer list intangible	$ 960,000

Basis of Presentation

Basis of Presentation	9 Months Ended
	Mar. 31, 2018
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	9 Months Ended
	Mar. 31, 2018
New Accounting Pronouncements
New Accounting Pronouncements	Note 2. In May 2014, the Financial Accounting Standards Board (“the FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers. This ASU is effective for the Company beginning with the fiscal year ending June 30, 2019, including interim periods within these fiscal years. 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, Leases (Topic 842), intended to improve financial reporting about leasing transactions. This ASU is effective for the Company with the interim period beginning July 1, 2019. We are currently evaluating the effect of this proposal on 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. This 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 purpose 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. This ASU is effective for the Company beginning 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 issued 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 adopted this standard effective July 1, 2017 and it did not have a material impact to 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. The Company does not expect this ASU to have a material impact on the Company’s consolidated financial statements. In August 2017, the FASB issued 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. The Company does not expect this ASU to have a material impact on the Company’s consolidated financial statements. In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income. The purpose of this ASU is to allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. This amendment is effective for fiscal years beginning after December 15, 2018, 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.

Securities

Securities	9 Months Ended
	Mar. 31, 2018
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 March 31, 2018 Cost Gains Losses Fair Value U.S. Government-sponsored agencies securities $ 988,759 $ — $ (32,856) $ 955,903 Residential mortgage-backed securities 356,505 — (5,954) 350,551 $ 1,345,264 $ — $ (38,810) $ 1,306,454 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 March 31, 2018 Cost Gains Losses Fair Value Residential mortgage-backed securities $ 110,943 $ 5,575 $ — $ 116,518 Municipal securities 600,000 — (4,596) 595,404 $ 710,943 $ 5,575 $ (4,596) $ 711,922 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 March 31, 2018 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 $956,000 of U.S. Government sponsored agency bonds will mature in the year ending June 30, 2023. There were no sales of securities for the nine months ended March 31, 2018 and 2017. 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 nine months ended March 31, 2018 and 2017.

Loans

Loans	9 Months Ended
	Mar. 31, 2018
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: March 31, 2018 June 30, 2017 Commercial: Operating $ 22,079,599 $ 20,139,045 Real estate 95,303,209 86,809,938 Agricultural: Operating 26,228,511 26,739,407 Real estate 30,710,975 31,105,790 Residential real estate: 1-4 family 47,376,890 43,060,013 Home equity 12,950,830 11,748,363 Other: Construction and land 21,447,244 16,175,698 Consumer 3,777,872 3,674,674 Total loans 259,875,130 239,452,928 Deferred loan origination costs, net 669,793 647,197 Allowance for loan losses (4,598,000) (3,555,000) (3,928,207) (2,907,803) Loans, net $ 255,946,923 $ 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 March 31, 2018 Balance, beginning $ 2,446,000 $ 980,000 $ 716,000 $ 320,000 $ 4,462,000 Provision charged to expense (238,975) (58,000) 196,687 234,785 134,497 Recoveries 975 — 313 1,911 3,199 Loans charged off — — — (1,696) (1,696) Balance, ending $ 2,208,000 $ 922,000 $ 913,000 $ 555,000 $ 4,598,000 Residential Commercial Agricultural Real Estate Other Total For the three months ended March 31, 2017 Balance, beginning $ 1,468,000 $ 848,000 $ 635,000 $ 287,000 $ 3,238,000 Provision charged to expense 53,020 (9,000) (19,838) 36,648 60,830 Recoveries 980 — 932 1,402 3,314 Loans charged off — — (94) (2,050) (2,144) Balance, ending $ 1,522,000 $ 839,000 $ 616,000 $ 323,000 $ 3,300,000 Residential Commercial Agricultural Real Estate Other Total For the nine months ended March 31, 2018 Balance, beginning $ 1,703,000 $ 918,000 $ 656,000 $ 278,000 $ 3,555,000 Provision charged to expense 463,167 4,000 254,855 279,814 1,001,836 Recoveries 41,833 — 2,145 3,789 47,767 Loans charged off — — — (6,603) (6,603) Balance, ending $ 2,208,000 922,000 913,000 555,000 $ 4,598,000 Residential Commercial Agricultural Real Estate Other Total For the nine months ended March 31, 2017 Balance, beginning $ 1,337,000 $ 738,000 $ 655,000 $ 217,000 $ 2,947,000 Provision charged to expense 209,331 101,000 (40,812) 113,184 382,703 Recoveries 23,536 — 2,000 2,604 28,140 Loans charged off (47,867) — (188) (9,788) (57,843) Balance, ending $ 1,522,000 $ 839,000 $ 616,000 $ 323,000 $ 3,300,000 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 March 31, 2018 Allowance for loans individually evaluated for impairment $ 413,434 $ 30,200 $ 226,405 $ 209,890 $ 879,929 Allowance for loans collectively evaluated for impairment 1,794,566 891,800 686,595 345,110 3,718,071 $ 2,208,000 $ 922,000 $ 913,000 $ 555,000 $ 4,598,000 Loans individually evaluated for impairment $ 3,191,959 $ 486,057 $ 2,885,746 $ 557,789 $ 7,121,551 Loans collectively evaluated for impairment 114,190,849 56,453,429 57,441,974 24,667,327 252,753,579 $ 117,382,808 $ 56,939,486 $ 60,327,720 $ 25,225,116 $ 259,875,130 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 March 31, 2018 Classes of loans: Commercial: Operating $ 21,943,773 $ 12,007 $ 72,993 $ 50,826 $ 22,079,599 $ 1,292,084 Real estate 95,163,242 139,967 — — 95,303,209 598,416 Agricultural: Operating 26,228,511 — — — 26,228,511 — Real estate 29,904,824 335,094 — 471,057 30,710,975 486,057 Residential real estate: 1-4 family 47,129,554 20,105 — 227,231 47,376,890 1,170,774 Home equity 12,950,830 — — — 12,950,830 186,749 Other: Construction and land 21,447,244 — — — 21,447,244 539,558 Consumer 3,776,196 — 500 1,176 3,777,872 16,975 $ 258,544,174 $ 507,173 $ 73,493 $ 750,290 $ 259,875,130 $ 4,290,613 > 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 March 31, 2018 Internally assigned risk rating: Highest Quality (rating 1) $ — $ — $ 36,744 $ 302,991 $ — $ 339,735 Good Quality (rating 2) 187,660 7,804,718 3,053,749 3,412,482 563,359 15,021,968 Acceptable Quality (rating 3) 8,558,803 50,018,940 7,555,451 7,198,994 12,334,923 85,667,111 Fair Quality (rating 4) 12,045,470 31,143,251 14,466,885 17,961,102 8,009,404 83,626,112 Special Mention (rating 5) — 147,010 886,950 280,791 539,558 1,854,309 Substandard (rating 6) 1,287,666 6,189,290 228,732 1,554,615 — 9,260,303 Doubtful (rating 7) — — — — — — Loss (rating 8) — — — — — — $ 22,079,599 $ 95,303,209 $ 26,228,511 $ 30,710,975 $ 21,447,244 $ 195,769,538 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 March 31, 2018 Delinquency status*: Performing $ 46,199,376 $ 12,764,081 $ 3,760,397 $ 62,723,854 Nonperforming 1,177,514 186,749 17,475 1,381,738 $ 47,376,890 $ 12,950,830 $ 3,777,872 $ 64,105,592 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 March 31, 2018 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 March 31, 2018 Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 68,661 $ 68,546 $ — Real estate 1,924,094 1,913,975 — Residential real estate: 1-4 family 1,580,224 1,577,742 — Home equity 5,982 5,970 — 3,578,961 3,566,233 — Impaired loans with specific allowance recorded: Commercial: Operating 1,223,942 1,209,438 413,434 Agricultural: Real estate 544,599 486,057 30,200 Residential real estate: 1-4 family 1,145,971 1,119,839 214,225 Home equity 182,296 182,195 12,180 Other: Construction and land 532,013 539,558 205,699 Consumer 18,328 18,231 4,191 3,647,149 3,555,318 879,929 Total impaired loans: Commercial: Operating 1,292,603 1,277,984 413,434 Real estate 1,924,094 1,913,975 — Agricultural: Real estate 544,599 486,057 30,200 Residential real estate: 1-4 family 2,726,195 2,697,581 214,225 Home equity 188,278 188,165 12,180 Other: Construction and land 532,013 539,558 205,699 Consumer 18,328 18,231 4,191 $ 7,226,110 $ 7,121,551 $ 879,929 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 March 31, 2018 and June 30, 2017, have adequate collateral, based on management’s current estimates. For the three months ended March 31, 2018 March 31, 2017 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 71,557 $ 945 $ 192,837 $ 3,125 Real estate 1,931,470 27,789 663,799 4,749 Agricultural: Operating — — 16,903 125 Real estate — — 411,432 — Residential real estate: 1-4 family 1,595,115 18,240 2,811,564 35,254 Home equity 6,053 90 8,520 141 Other: Consumer — — 2,642 24 3,604,195 47,064 4,107,697 43,418 Impaired loans with specific allowance recorded: Commercial: Operating 1,264,773 8,079 65,973 906 Real estate — — 48,321 — Agricultural: Operating — — 18,902 — Real estate 541,395 272 515,527 230 Residential real estate: 1-4 family 1,153,656 9,193 661,611 9,955 Home equity 182,913 2,394 17,202 447 Other: Construction and land 546,147 14,579 — — Consumer 19,309 348 22,947 378 3,708,193 34,865 1,350,483 11,916 Total impaired loans: Commercial: Operating 1,336,330 9,024 258,810 4,031 Real estate 1,931,470 27,789 712,120 4,749 Agricultural: Operating — — 35,805 125 Real estate 541,395 272 926,959 230 Residential real estate: 1-4 family 2,748,771 27,433 3,473,175 45,209 Home equity 188,966 2,484 25,722 588 Other: Construction and land 546,147 14,579 — — Consumer 19,309 348 25,589 402 $ 7,312,388 $ 81,929 $ 5,458,180 $ 55,334 For the nine months ended March 31, 2018 March 31, 2017 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 79,059 $ 3,133 $ 164,025 $ 7,722 Real estate 1,283,660 41,561 328,484 7,124 Agricultural: Operating — — 17,218 125 Real estate — — 425,722 — Residential real estate: 1-4 family 1,624,132 61,463 2,733,003 100,579 Home equity 6,190 278 8,926 450 Other: Consumer — — 3,780 144 2,993,041 106,435 3,681,158 116,144 Impaired loans with specific allowance recorded: Commercial: Operating 1,099,997 40,287 60,770 2,028 Real estate — — 47,764 — Agricultural: Operating — — 37,804 — Real estate 534,833 782 508,658 593 Residential real estate: 1-4 family 920,649 30,693 663,628 18,199 Home equity 98,924 2,926 17,161 835 Other: Construction and land 525,074 25,035 — — Consumer 19,381 877 23,861 951 3,198,858 100,600 1,359,646 22,606 Total impaired loans: Commercial: Operating 1,179,056 43,420 224,795 9,750 Real estate 1,283,660 41,561 376,248 7,124 Agricultural: Operating — — 55,022 125 Real estate 534,833 782 934,380 593 Residential real estate: 1-4 family 2,544,781 92,156 3,396,631 118,778 Home equity 105,114 3,204 26,087 1,285 Other: Construction and land 525,074 25,035 — — Consumer 19,381 877 27,641 1,095 $ 6,191,899 $ 207,035 $ 5,040,804 $ 138,750 The Company's troubled debt restructuring as of March 31, 2018 and June 30, 2017 were not material to the consolidated financial statements.

Borrowings

Borrowings	9 Months Ended
	Mar. 31, 2018
Borrowings
Borrowings	Note 5. Our borrowings consist primarily of advances from FHLB of Topeka. At March 31, 2018, we had access to FHLB advances up to $40.6 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 and during the nine months ending March 31, 2018 and 2017. At or For the Nine Months Ended March 31, 2018 March 31, 2017 Federal Home Loan Bank Advances: Maximum outstanding at any month end $ 10,075,000 $ 300,000 Balance at the end of period 5,000,000 — Average balance during period 6,454,980 575,000 Weighted average interest rate at the end of period 1.55 % 0.75 % Weighted average interest rate during period 1.44 % 0.75 %

Regulatory Matters

Regulatory Matters	9 Months Ended
	Mar. 31, 2018
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 March 31, 2018, 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 March 31, 2018 Total capital (to risk-weighted assets) $ 30,827 12.2 % $ 20,248 8.0 % $ 25,310 10.0 % Common equity Tier 1 capital (to risk-weighted assets) 27,645 10.9 % 11,389 4.5 % 16,451 6.5 % Tier 1 (core) capital (to risk-weighted assets) 27,645 10.9 % 15,186 6.0 % 20,248 8.0 % Tier 1 (core) capital (to adjusted total assets) 27,645 10.0 % 11,070 4.0 % 13,838 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 FDIC 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 be utilized for such actions. The minimum requirements do not include the capital conservation buffer.

Employee Benefit Plan

Employee Benefit Plan	9 Months Ended
	Mar. 31, 2018
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 $97,936 and $88,548 during the nine months ended March 31, 2018 and 2017, 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 $124,521 and $111,615 for the nine months ended March 31, 2018 and 2017, respectively. Shares held by the ESOP were as follows: March 31, 2018 June 30, 2017 Allocated shares 99,206 86,104 Shares allocated to be released 3,966 7,929 Unearned ESOP shares 122,946 134,843 Total ESOP shares 226,118 228,876 Fair value of unearned ESOP shares $ 1,290,933 $ 1,348,430 Fair value of allocated shares subject to repurchase obligation $ 992,922 $ 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 March 31, 2018, 158,653 stock options and 63,461 stock awards were awarded. These options and awards were all granted in February 2017 at an exercise price of $9.90 per share. The table below represents the stock option activity for the period shown: Weighted Remaining Average Contractual Awards Exercise Price Life (Years) Options outstanding at July 1, 2017 158,653 $ 9.90 9.20 Granted — — — Options outstanding at March 31, 2018 158,653 $ 9.90 8.90 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 was $31,652 and $3,517 for the nine months ended March 31, 2018 and 2017, respectively. 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 March 31, 2018, there was $535,222 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 3.7 years. Compensation expense attributable to the restricted stock awards totaled $137,976 and $54,182 for the nine months ended March 31, 2018 and 2017, 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 $ 8.52 Vested 19,987 8.27 Non-vested at March 31, 2018 69,138 $ 8.59

Earnings per Share

Earnings per Share	9 Months Ended
	Mar. 31, 2018
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 and nine months ended March 31, 2018 and 2017: For the three months ended For the nine months ended March 31, March 31, 2018 2017 2018 2017 Weighted average common shares outstanding 3,119,978 3,284,630 3,129,294 3,289,170 Net income available to common stockholders $ 350,100 $ 275,346 $ 571,099 $ 849,868 Basic earnings per share $ 0.11 $ 0.08 $ 0.18 $ 0.26 The following table presents a reconciliation of the components used to compute diluted earnings per share for the three and nine months ended March 31, 2018 and 2017: For the three months ended For the nine months ended March 31, March 31, 2018 2017 2018 2017 Weighted average common shares outstanding 3,119,978 3,284,630 3,129,294 3,289,170 Weighted average of net additional shares from restricted stock awards 24,760 53,546 18,802 48,058 Weighted average number of shares outstanding 3,144,738 3,338,176 3,148,096 3,337,228 Net income available to common stockholders $ 350,100 $ 275,346 $ 571,099 $ 849,868 Diluted earnings per share $ 0.11 $ 0.08 $ 0.18 $ 0.25 As of March 31, 2018, 20,999 of the outstanding stock options were not included in the computation of diluted earnings per share because the exercise price of the stock options was greater than the average market price of the common shares.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Mar. 31, 2018
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 nine months ended March 31, 2018, nor were there any changes in valuation techniques used for assets or liabilities measured at fair value at March 31, 2018. 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 March 31, 2018 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 March 31, 2018 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 $ 1,306,454 $ — $ 1,306,454 $ — 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 March 31, 2018 and June 30, 2017 the fair value of impaired loans and foreclosed assets was 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 and credit enhancement receivable — 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 costs that would be charged to enter into or terminate such arrangements. Such items 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 March 31, 2018 Hierarchy Level Amount Fair Value Financial assets: Cash and due from financial institutions Level 1 $ 7,669,608 $ 7,670,000 Interest-earning deposits Level 1 28,317,000 28,317,000 Securities available-for-sale See previous table 1,306,454 1,306,000 Securities held-to-maturity Level 2 710,943 712,000 Federal Home Loan Bank stock Level 1 282,300 282,000 Loans, net Level 2 255,946,923 251,425,000 Mortgage servicing rights Level 2 858,035 1,199,000 Credit enhancement receivable Level 2 97,001 97,000 Accrued interest receivable Level 1 1,512,532 1,513,000 Financial liabilities: Noninterest-bearing deposits Level 2 37,452,083 37,452,000 Interest-bearing deposits Level 2 223,257,251 224,212,000 Federal Home Loan Bank Borrowings Level 2 5,000,000 5,000,000 Accrued interest payable and other liabilities Level 1 2,743,811 2,744,000 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	9 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss	Note 10. Accumulated other comprehensive loss components were as follows: March 31, 2018 June 30, 2017 Unrealized holding losses on securities available-for-sale $ (38,810) $ (16,034) Tax expense 10,890 5,452 $ (27,920) $ (10,582)

Income Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2018
Income Taxes
Income Taxes	Note 11. The Company’s deferred tax position was impacted as a result of the newly enacted Tax Cuts and Jobs Act (the “Act”) which was signed into law on December 22, 2017. The effect reflects the revaluation of our net deferred tax asset based on the new federal tax rate of 21% compared to the previous rate of 34%. We have substantially completed our accounting for the newly enacted tax rates and we have made a reasonable estimate of the effects on our deferred tax balances and believe the actual results will not vary materially from those estimates. The federal tax rate is computed using a blended rate of approximately 28% as a result of part of the fiscal year being calculated at 34% and the other at 21%. Three months ended March 31, 2018 March 31, 2017 Provision computed at the statutory federal tax rate $ (141,779) $ (140,748) State income taxes, net of federal tax (15,039) (11,264) Release of unearned ESOP shares and stock awards (2,239) (1,834) Nondeductible expenses (1,431) (2,161) Other 5,318 17,387 $ (155,170) $ (138,620) Nine months ended March 31, 2018 March 31, 2017 Provision computed at the statutory federal tax rate $ (373,269) $ (455,147) State income taxes, net of federal tax (42,029) (39,019) Release of unearned ESOP shares and stock awards 4,225 3,713 Nondeductible expenses (5,441) (5,875) Effect of Tax Cuts & Jobs Act (347,957) — Other 5,318 7,527 $ (759,153) $ (488,801)

Stock Buyback

Stock Buyback	9 Months Ended
	Mar. 31, 2018
Stock Buyback
Stock Buyback	Note 12. The Company has authorized two stock repurchase programs for an aggregate of 342,303 shares of the Company’s issued common stock. Under the first stock repurchase program, which was approved on October 7, 2016, the Company was authorized to repurchase up to 173,857 shares of the Company’s issued common stock. The first stock repurchase program expired on October 7, 2017. On November 21, 2017, a second repurchase program was approved, which authorized the repurchase up to 168,446 shares of the Company’s issued common stock. Under each repurchase program, repurchases were or will be conducted through open market purchases, which may include purchase under a trading plan adopted pursuant to SEC Rule 10b5-1, or through privately negotiated transactions. Repurchases will be made from time to time, depending on market conditions and other factors. There is no guarantee as to the exact number of shares to be repurchased by the Company. The following table provides information with respect to purchases made by or on behalf of the Company or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934), of the Company’s common stock during the nine months ended March 31, 2018. 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 10/01/17 - 10/31/17 — — 171,686 2,171 11/01/17 - 11/30/17 436 10.40 172,122 168,010 12/01/17 - 12/31/17 6,500 10.35 179,058 161,510 01/01/18 - 01/31/18 2,000 10.50 181,058 159,510 02/01/18 - 02/28/18 15,000 10.65 196,058 144,510 03/01/18 - 03/31/18 27,000 10.62 223,058 117,510 Total 54,536 $ 10.56

Securities (Tables)

Securities (Tables)	9 Months Ended
	Mar. 31, 2018
Securities
Schedule of securities available-for-sale	Gross Gross Amortized Unrealized Unrealized March 31, 2018 Cost Gains Losses Fair Value U.S. Government-sponsored agencies securities $ 988,759 $ — $ (32,856) $ 955,903 Residential mortgage-backed securities 356,505 — (5,954) 350,551 $ 1,345,264 $ — $ (38,810) $ 1,306,454 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 March 31, 2018 Cost Gains Losses Fair Value Residential mortgage-backed securities $ 110,943 $ 5,575 $ — $ 116,518 Municipal securities 600,000 — (4,596) 595,404 $ 710,943 $ 5,575 $ (4,596) $ 711,922 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)	9 Months Ended
	Mar. 31, 2018
Loans
Summary of loans	March 31, 2018 June 30, 2017 Commercial: Operating $ 22,079,599 $ 20,139,045 Real estate 95,303,209 86,809,938 Agricultural: Operating 26,228,511 26,739,407 Real estate 30,710,975 31,105,790 Residential real estate: 1-4 family 47,376,890 43,060,013 Home equity 12,950,830 11,748,363 Other: Construction and land 21,447,244 16,175,698 Consumer 3,777,872 3,674,674 Total loans 259,875,130 239,452,928 Deferred loan origination costs, net 669,793 647,197 Allowance for loan losses (4,598,000) (3,555,000) (3,928,207) (2,907,803) Loans, net $ 255,946,923 $ 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 March 31, 2018 Balance, beginning $ 2,446,000 $ 980,000 $ 716,000 $ 320,000 $ 4,462,000 Provision charged to expense (238,975) (58,000) 196,687 234,785 134,497 Recoveries 975 — 313 1,911 3,199 Loans charged off — — — (1,696) (1,696) Balance, ending $ 2,208,000 $ 922,000 $ 913,000 $ 555,000 $ 4,598,000 Residential Commercial Agricultural Real Estate Other Total For the three months ended March 31, 2017 Balance, beginning $ 1,468,000 $ 848,000 $ 635,000 $ 287,000 $ 3,238,000 Provision charged to expense 53,020 (9,000) (19,838) 36,648 60,830 Recoveries 980 — 932 1,402 3,314 Loans charged off — — (94) (2,050) (2,144) Balance, ending $ 1,522,000 $ 839,000 $ 616,000 $ 323,000 $ 3,300,000 Residential Commercial Agricultural Real Estate Other Total For the nine months ended March 31, 2018 Balance, beginning $ 1,703,000 $ 918,000 $ 656,000 $ 278,000 $ 3,555,000 Provision charged to expense 463,167 4,000 254,855 279,814 1,001,836 Recoveries 41,833 — 2,145 3,789 47,767 Loans charged off — — — (6,603) (6,603) Balance, ending $ 2,208,000 922,000 913,000 555,000 $ 4,598,000 Residential Commercial Agricultural Real Estate Other Total For the nine months ended March 31, 2017 Balance, beginning $ 1,337,000 $ 738,000 $ 655,000 $ 217,000 $ 2,947,000 Provision charged to expense 209,331 101,000 (40,812) 113,184 382,703 Recoveries 23,536 — 2,000 2,604 28,140 Loans charged off (47,867) — (188) (9,788) (57,843) Balance, ending $ 1,522,000 $ 839,000 $ 616,000 $ 323,000 $ 3,300,000
Summary of allowance for loan losses by impairment evaluation and portfolio segment	Residential Commercial Agricultural Real Estate Other Total March 31, 2018 Allowance for loans individually evaluated for impairment $ 413,434 $ 30,200 $ 226,405 $ 209,890 $ 879,929 Allowance for loans collectively evaluated for impairment 1,794,566 891,800 686,595 345,110 3,718,071 $ 2,208,000 $ 922,000 $ 913,000 $ 555,000 $ 4,598,000 Loans individually evaluated for impairment $ 3,191,959 $ 486,057 $ 2,885,746 $ 557,789 $ 7,121,551 Loans collectively evaluated for impairment 114,190,849 56,453,429 57,441,974 24,667,327 252,753,579 $ 117,382,808 $ 56,939,486 $ 60,327,720 $ 25,225,116 $ 259,875,130 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 March 31, 2018 Classes of loans: Commercial: Operating $ 21,943,773 $ 12,007 $ 72,993 $ 50,826 $ 22,079,599 $ 1,292,084 Real estate 95,163,242 139,967 — — 95,303,209 598,416 Agricultural: Operating 26,228,511 — — — 26,228,511 — Real estate 29,904,824 335,094 — 471,057 30,710,975 486,057 Residential real estate: 1-4 family 47,129,554 20,105 — 227,231 47,376,890 1,170,774 Home equity 12,950,830 — — — 12,950,830 186,749 Other: Construction and land 21,447,244 — — — 21,447,244 539,558 Consumer 3,776,196 — 500 1,176 3,777,872 16,975 $ 258,544,174 $ 507,173 $ 73,493 $ 750,290 $ 259,875,130 $ 4,290,613 > 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 March 31, 2018 Internally assigned risk rating: Highest Quality (rating 1) $ — $ — $ 36,744 $ 302,991 $ — $ 339,735 Good Quality (rating 2) 187,660 7,804,718 3,053,749 3,412,482 563,359 15,021,968 Acceptable Quality (rating 3) 8,558,803 50,018,940 7,555,451 7,198,994 12,334,923 85,667,111 Fair Quality (rating 4) 12,045,470 31,143,251 14,466,885 17,961,102 8,009,404 83,626,112 Special Mention (rating 5) — 147,010 886,950 280,791 539,558 1,854,309 Substandard (rating 6) 1,287,666 6,189,290 228,732 1,554,615 — 9,260,303 Doubtful (rating 7) — — — — — — Loss (rating 8) — — — — — — $ 22,079,599 $ 95,303,209 $ 26,228,511 $ 30,710,975 $ 21,447,244 $ 195,769,538 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 March 31, 2018 Delinquency status*: Performing $ 46,199,376 $ 12,764,081 $ 3,760,397 $ 62,723,854 Nonperforming 1,177,514 186,749 17,475 1,381,738 $ 47,376,890 $ 12,950,830 $ 3,777,872 $ 64,105,592 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 March 31, 2018 Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 68,661 $ 68,546 $ — Real estate 1,924,094 1,913,975 — Residential real estate: 1-4 family 1,580,224 1,577,742 — Home equity 5,982 5,970 — 3,578,961 3,566,233 — Impaired loans with specific allowance recorded: Commercial: Operating 1,223,942 1,209,438 413,434 Agricultural: Real estate 544,599 486,057 30,200 Residential real estate: 1-4 family 1,145,971 1,119,839 214,225 Home equity 182,296 182,195 12,180 Other: Construction and land 532,013 539,558 205,699 Consumer 18,328 18,231 4,191 3,647,149 3,555,318 879,929 Total impaired loans: Commercial: Operating 1,292,603 1,277,984 413,434 Real estate 1,924,094 1,913,975 — Agricultural: Real estate 544,599 486,057 30,200 Residential real estate: 1-4 family 2,726,195 2,697,581 214,225 Home equity 188,278 188,165 12,180 Other: Construction and land 532,013 539,558 205,699 Consumer 18,328 18,231 4,191 $ 7,226,110 $ 7,121,551 $ 879,929 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 March 31, 2018 and June 30, 2017, have adequate collateral, based on management’s current estimates. For the three months ended March 31, 2018 March 31, 2017 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 71,557 $ 945 $ 192,837 $ 3,125 Real estate 1,931,470 27,789 663,799 4,749 Agricultural: Operating — — 16,903 125 Real estate — — 411,432 — Residential real estate: 1-4 family 1,595,115 18,240 2,811,564 35,254 Home equity 6,053 90 8,520 141 Other: Consumer — — 2,642 24 3,604,195 47,064 4,107,697 43,418 Impaired loans with specific allowance recorded: Commercial: Operating 1,264,773 8,079 65,973 906 Real estate — — 48,321 — Agricultural: Operating — — 18,902 — Real estate 541,395 272 515,527 230 Residential real estate: 1-4 family 1,153,656 9,193 661,611 9,955 Home equity 182,913 2,394 17,202 447 Other: Construction and land 546,147 14,579 — — Consumer 19,309 348 22,947 378 3,708,193 34,865 1,350,483 11,916 Total impaired loans: Commercial: Operating 1,336,330 9,024 258,810 4,031 Real estate 1,931,470 27,789 712,120 4,749 Agricultural: Operating — — 35,805 125 Real estate 541,395 272 926,959 230 Residential real estate: 1-4 family 2,748,771 27,433 3,473,175 45,209 Home equity 188,966 2,484 25,722 588 Other: Construction and land 546,147 14,579 — — Consumer 19,309 348 25,589 402 $ 7,312,388 $ 81,929 $ 5,458,180 $ 55,334 For the nine months ended March 31, 2018 March 31, 2017 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Classes of loans: Impaired loans with no specific allowance recorded: Commercial: Operating $ 79,059 $ 3,133 $ 164,025 $ 7,722 Real estate 1,283,660 41,561 328,484 7,124 Agricultural: Operating — — 17,218 125 Real estate — — 425,722 — Residential real estate: 1-4 family 1,624,132 61,463 2,733,003 100,579 Home equity 6,190 278 8,926 450 Other: Consumer — — 3,780 144 2,993,041 106,435 3,681,158 116,144 Impaired loans with specific allowance recorded: Commercial: Operating 1,099,997 40,287 60,770 2,028 Real estate — — 47,764 — Agricultural: Operating — — 37,804 — Real estate 534,833 782 508,658 593 Residential real estate: 1-4 family 920,649 30,693 663,628 18,199 Home equity 98,924 2,926 17,161 835 Other: Construction and land 525,074 25,035 — — Consumer 19,381 877 23,861 951 3,198,858 100,600 1,359,646 22,606 Total impaired loans: Commercial: Operating 1,179,056 43,420 224,795 9,750 Real estate 1,283,660 41,561 376,248 7,124 Agricultural: Operating — — 55,022 125 Real estate 534,833 782 934,380 593 Residential real estate: 1-4 family 2,544,781 92,156 3,396,631 118,778 Home equity 105,114 3,204 26,087 1,285 Other: Construction and land 525,074 25,035 — — Consumer 19,381 877 27,641 1,095 $ 6,191,899 $ 207,035 $ 5,040,804 $ 138,750

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Mar. 31, 2018
Borrowings
Schedule of balances and interest rates of advances	At or For the Nine Months Ended March 31, 2018 March 31, 2017 Federal Home Loan Bank Advances: Maximum outstanding at any month end $ 10,075,000 $ 300,000 Balance at the end of period 5,000,000 — Average balance during period 6,454,980 575,000 Weighted average interest rate at the end of period 1.55 % 0.75 % Weighted average interest rate during period 1.44 % 0.75 %

Regulatory Matters (Tables)

Regulatory Matters (Tables)	9 Months Ended
	Mar. 31, 2018
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 March 31, 2018 Total capital (to risk-weighted assets) $ 30,827 12.2 % $ 20,248 8.0 % $ 25,310 10.0 % Common equity Tier 1 capital (to risk-weighted assets) 27,645 10.9 % 11,389 4.5 % 16,451 6.5 % Tier 1 (core) capital (to risk-weighted assets) 27,645 10.9 % 15,186 6.0 % 20,248 8.0 % Tier 1 (core) capital (to adjusted total assets) 27,645 10.0 % 11,070 4.0 % 13,838 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)	9 Months Ended
	Mar. 31, 2018
Employee Benefit Plan
Summary of ESOP shares	March 31, 2018 June 30, 2017 Allocated shares 99,206 86,104 Shares allocated to be released 3,966 7,929 Unearned ESOP shares 122,946 134,843 Total ESOP shares 226,118 228,876 Fair value of unearned ESOP shares $ 1,290,933 $ 1,348,430 Fair value of allocated shares subject to repurchase obligation $ 992,922 $ 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 March 31, 2018 158,653 $ 9.90 8.90
Schedule of restricted stock award activity	Service-Based Weighted Stock Grant Date Awards Fair Value Non-vested at July 1, 2017 89,125 $ 8.52 Vested 19,987 8.27 Non-vested at March 31, 2018 69,138 $ 8.59

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Mar. 31, 2018
Earnings per Share
Schedule of reconciliation of the components used to compute basic earnings per share	For the three months ended For the nine months ended March 31, March 31, 2018 2017 2018 2017 Weighted average common shares outstanding 3,119,978 3,284,630 3,129,294 3,289,170 Net income available to common stockholders $ 350,100 $ 275,346 $ 571,099 $ 849,868 Basic earnings per share $ 0.11 $ 0.08 $ 0.18 $ 0.26
Schedule of reconciliation of the components used to compute diluted earnings per share	For the three months ended For the nine months ended March 31, March 31, 2018 2017 2018 2017 Weighted average common shares outstanding 3,119,978 3,284,630 3,129,294 3,289,170 Weighted average of net additional shares from restricted stock awards 24,760 53,546 18,802 48,058 Weighted average number of shares outstanding 3,144,738 3,338,176 3,148,096 3,337,228 Net income available to common stockholders $ 350,100 $ 275,346 $ 571,099 $ 849,868 Diluted earnings per share $ 0.11 $ 0.08 $ 0.18 $ 0.25

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Mar. 31, 2018
Fair Value Measurements
Summary of fair value of assets and liabilities measured on a recurring basis	Fair Value Measurement at March 31, 2018 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 $ 1,306,454 $ — $ 1,306,454 $ — 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 March 31, 2018 Hierarchy Level Amount Fair Value Financial assets: Cash and due from financial institutions Level 1 $ 7,669,608 $ 7,670,000 Interest-earning deposits Level 1 28,317,000 28,317,000 Securities available-for-sale See previous table 1,306,454 1,306,000 Securities held-to-maturity Level 2 710,943 712,000 Federal Home Loan Bank stock Level 1 282,300 282,000 Loans, net Level 2 255,946,923 251,425,000 Mortgage servicing rights Level 2 858,035 1,199,000 Credit enhancement receivable Level 2 97,001 97,000 Accrued interest receivable Level 1 1,512,532 1,513,000 Financial liabilities: Noninterest-bearing deposits Level 2 37,452,083 37,452,000 Interest-bearing deposits Level 2 223,257,251 224,212,000 Federal Home Loan Bank Borrowings Level 2 5,000,000 5,000,000 Accrued interest payable and other liabilities Level 1 2,743,811 2,744,000 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)	9 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Loss
Schedule of components of accumulated other comprehensive loss	March 31, 2018 June 30, 2017 Unrealized holding losses on securities available-for-sale $ (38,810) $ (16,034) Tax expense 10,890 5,452 $ (27,920) $ (10,582)

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Mar. 31, 2018
Income Taxes
Schedule of reconciliation of the provision for income taxes	Three months ended March 31, 2018 March 31, 2017 Provision computed at the statutory federal tax rate $ (141,779) $ (140,748) State income taxes, net of federal tax (15,039) (11,264) Release of unearned ESOP shares and stock awards (2,239) (1,834) Nondeductible expenses (1,431) (2,161) Other 5,318 17,387 $ (155,170) $ (138,620) Nine months ended March 31, 2018 March 31, 2017 Provision computed at the statutory federal tax rate $ (373,269) $ (455,147) State income taxes, net of federal tax (42,029) (39,019) Release of unearned ESOP shares and stock awards 4,225 3,713 Nondeductible expenses (5,441) (5,875) Effect of Tax Cuts & Jobs Act (347,957) — Other 5,318 7,527 $ (759,153) $ (488,801)

Stock Buyback (Tables)

Stock Buyback (Tables)	9 Months Ended
	Mar. 31, 2018
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 10/01/17 - 10/31/17 — — 171,686 2,171 11/01/17 - 11/30/17 436 10.40 172,122 168,010 12/01/17 - 12/31/17 6,500 10.35 179,058 161,510 01/01/18 - 01/31/18 2,000 10.50 181,058 159,510 02/01/18 - 02/28/18 15,000 10.65 196,058 144,510 03/01/18 - 03/31/18 27,000 10.62 223,058 117,510 Total 54,536 $ 10.56

Securities (Details)

Securities (Details) - USD ($)	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2017
Amortized cost and estimated fair value of investments in debt and equity securities
Investment securities available-for-sale, amortized cost	$ 1,345,264		$ 1,426,989
Investment securities available-for-sale , gross unrealized gains			1,973
Investment securities available-for-sale , gross unrealized losses	(38,810)		(18,007)
Securities available-for-sale	1,306,454		1,410,955
Investment securities held-to-maturity, amortized cost	710,943		735,978
Investment securities held-to-maturity , gross unrealized gains	5,575		10,279
Investment securities held-to-maturity , gross unrealized losses	(4,596)		(384)
Investment securities held-to-maturity, estimated fair value	711,922		745,873
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]
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	356,505		440,070
Investment securities available-for-sale , gross unrealized gains			1,973
Investment securities available-for-sale , gross unrealized losses	(5,954)		(33)
Securities available-for-sale	350,551		442,010
Investment securities held-to-maturity, amortized cost	110,943		135,978
Investment securities held-to-maturity , gross unrealized gains	5,575		10,279
Investment securities held-to-maturity, estimated fair value	116,518		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	(4,596)		(384)
Investment securities held-to-maturity, estimated fair value	595,404		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	988,759		986,919
Investment securities available-for-sale , gross unrealized losses	(32,856)		(17,974)
Securities available-for-sale	955,903		$ 968,945
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract]
Securities maturing in the year ending June 30, 2023	$ 956,000

Loans (Details)

Loans (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2016
Loans disclosures
Total loans	$ 259,875,130		$ 239,452,928
Deferred loan origination costs, net	669,793		647,197
Allowance for loan losses	(4,598,000)	$ (4,462,000)	(3,555,000)	$ (3,300,000)	$ (3,238,000)	$ (2,947,000)
Deferred loan origination costs and allowance	(3,928,207)		(2,907,803)
Loans, net	255,946,923		236,545,125
Commercial
Loans disclosures
Total loans	117,382,808		106,948,983
Allowance for loan losses	(2,208,000)	(2,446,000)	(1,703,000)	(1,522,000)	(1,468,000)	(1,337,000)
Commercial | Operating
Loans disclosures
Total loans	22,079,599		20,139,045
Commercial | Real Estate
Loans disclosures
Total loans	95,303,209		86,809,938
Agricultural
Loans disclosures
Total loans	56,939,486		57,845,197
Allowance for loan losses	(922,000)	(980,000)	(918,000)	(839,000)	(848,000)	(738,000)
Agricultural | Operating
Loans disclosures
Total loans	26,228,511		26,739,407
Agricultural | Real Estate
Loans disclosures
Total loans	30,710,975		31,105,790
Residential
Loans disclosures
Total loans	60,327,720		54,808,376
Allowance for loan losses	(913,000)	(716,000)	(656,000)	(616,000)	(635,000)	(655,000)
Residential | 1 - 4 family
Loans disclosures
Total loans	47,376,890		43,060,013
Residential | Consumer - Home equity and lines of credit
Loans disclosures
Total loans	12,950,830		11,748,363
Other
Loans disclosures
Total loans	25,225,116		19,850,372
Allowance for loan losses	(555,000)	$ (320,000)	(278,000)	$ (323,000)	$ (287,000)	$ (217,000)
Other | Construction and land
Loans disclosures
Total loans	21,447,244		16,175,698
Other | Consumer - Personal
Loans disclosures
Total loans	$ 3,777,872		$ 3,674,674

Loans - Allowance for Loan Loss

Loans - Allowance for Loan Losses (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Allowance for loan losses:
Balance, beginning	$ 4,462,000	$ 3,238,000	$ 3,555,000	$ 2,947,000
Provision charged to expense	134,497	60,830	1,001,836	382,703
Recoveries	3,199	3,314	47,767	28,140
Loans charged off	(1,696)	(2,144)	(6,603)	(57,843)
Balance, ending	4,598,000	3,300,000	4,598,000	3,300,000
Commercial
Allowance for loan losses:
Balance, beginning	2,446,000	1,468,000	1,703,000	1,337,000
Provision charged to expense	(238,975)	53,020	463,167	209,331
Recoveries	975	980	41,833	23,536
Loans charged off				(47,867)
Balance, ending	2,208,000	1,522,000	2,208,000	1,522,000
Agricultural
Allowance for loan losses:
Balance, beginning	980,000	848,000	918,000	738,000
Provision charged to expense	(58,000)	(9,000)	4,000	101,000
Balance, ending	922,000	839,000	922,000	839,000
Residential
Allowance for loan losses:
Balance, beginning	716,000	635,000	656,000	655,000
Provision charged to expense	196,687	(19,838)	254,855	(40,812)
Recoveries	313	932	2,145	2,000
Loans charged off		(94)		(188)
Balance, ending	913,000	616,000	913,000	616,000
Other
Allowance for loan losses:
Balance, beginning	320,000	287,000	278,000	217,000
Provision charged to expense	234,785	36,648	279,814	113,184
Recoveries	1,911	1,402	3,789	2,604
Loans charged off	(1,696)	(2,050)	(6,603)	(9,788)
Balance, ending	$ 555,000	$ 323,000	$ 555,000	$ 323,000

Loans - Impairment Evaluation (

Loans - Impairment Evaluation (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2016
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	$ 879,929		$ 55,680
Allowance for loans collectively evaluated for impairment	3,718,071		3,499,320
Total Allowance	4,598,000	$ 4,462,000	3,555,000	$ 3,300,000	$ 3,238,000	$ 2,947,000
Loan balances
Loans individually evaluated for impairment	7,121,551		4,897,162
Loans collectively evaluated for impairment	252,753,579		234,555,766
Total loans	259,875,130		239,452,928
Commercial
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	413,434		6,487
Allowance for loans collectively evaluated for impairment	1,794,566		1,696,513
Total Allowance	2,208,000	2,446,000	1,703,000	1,522,000	1,468,000	1,337,000
Loan balances
Loans individually evaluated for impairment	3,191,959		870,377
Loans collectively evaluated for impairment	114,190,849		106,078,606
Total loans	117,382,808		106,948,983
Agricultural
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	30,200		17,973
Allowance for loans collectively evaluated for impairment	891,800		900,027
Total Allowance	922,000	980,000	918,000	839,000	848,000	738,000
Loan balances
Loans individually evaluated for impairment	486,057		864,357
Loans collectively evaluated for impairment	56,453,429		56,980,840
Total loans	56,939,486		57,845,197
Residential
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	226,405		29,271
Allowance for loans collectively evaluated for impairment	686,595		626,729
Total Allowance	913,000	716,000	656,000	616,000	635,000	655,000
Loan balances
Loans individually evaluated for impairment	2,885,746		3,142,020
Loans collectively evaluated for impairment	57,441,974		51,666,356
Total loans	60,327,720		54,808,376
Other
Allowance for loan losses:
Allowance for loans individually evaluated for impairment	209,890		1,949
Allowance for loans collectively evaluated for impairment	345,110		276,051
Total Allowance	555,000	$ 320,000	278,000	$ 323,000	$ 287,000	$ 217,000
Loan balances
Loans individually evaluated for impairment	557,789		20,408
Loans collectively evaluated for impairment	24,667,327		19,829,964
Total loans	$ 25,225,116		$ 19,850,372

Loans - Aging Unpaid Principal

Loans - Aging Unpaid Principal (Details) - USD ($)	Mar. 31, 2018	Jun. 30, 2017
Summary of aging in terms of unpaid principal balance
Current	$ 258,544,174	$ 238,163,129
Total loans	259,875,130	239,452,928
Nonaccrual Loans	4,290,613	2,381,879
31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	507,173	278,263
61 to 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	73,493	16,987
Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	750,290	994,549
Commercial
Summary of aging in terms of unpaid principal balance
Total loans	117,382,808	106,948,983
Commercial | Operating
Summary of aging in terms of unpaid principal balance
Current	21,943,773	20,072,350
Total loans	22,079,599	20,139,045
Nonaccrual Loans	1,292,084	154,671
Commercial | Operating | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	12,007	33,060
Commercial | Operating | 61 to 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	72,993	13,240
Commercial | Operating | Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	50,826	20,395
Commercial | Real Estate
Summary of aging in terms of unpaid principal balance
Current	95,163,242	86,809,938
Total loans	95,303,209	86,809,938
Nonaccrual Loans	598,416	640,881
Commercial | Real Estate | 31 to 60 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	139,967
Agricultural
Summary of aging in terms of unpaid principal balance
Total loans	56,939,486	57,845,197
Agricultural | Operating
Summary of aging in terms of unpaid principal balance
Current	26,228,511	26,699,805
Total loans	26,228,511	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	29,904,824	30,263,281
Total loans	30,710,975	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	335,094	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	60,327,720	54,808,376
Residential | 1 - 4 family
Summary of aging in terms of unpaid principal balance
Current	47,129,554	42,722,767
Total loans	47,376,890	43,060,013
Nonaccrual Loans	1,170,774	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	20,105	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	227,231	172,697
Residential | Consumer - Home equity and lines of credit
Summary of aging in terms of unpaid principal balance
Current	12,950,830	11,748,363
Total loans	12,950,830	11,748,363
Nonaccrual Loans	186,749	22,649
Other
Summary of aging in terms of unpaid principal balance
Total loans	25,225,116	19,850,372
Other | Construction and land
Summary of aging in terms of unpaid principal balance
Current	21,447,244	16,175,698
Total loans	21,447,244	16,175,698
Nonaccrual Loans	539,558
Other | Consumer - Personal
Summary of aging in terms of unpaid principal balance
Current	3,776,196	3,670,927
Total loans	3,777,872	3,674,674
Nonaccrual Loans	16,975	24,124
Other | Consumer - Personal | 61 to 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	500	$ 3,747
Other | Consumer - Personal | Greater than 90 Days Past Due
Summary of aging in terms of unpaid principal balance
Financing Receivable Past Due	$ 1,176

Loans - Credit Quality (Details

Loans - Credit Quality (Details) - USD ($)	9 Months Ended
	Mar. 31, 2018	Jun. 30, 2017
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 259,875,130	$ 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	$ 195,769,538	180,969,878
Financing Receivable Risk Rating Minimum Review Period	12 months
Commercial
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 117,382,808	106,948,983
Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	22,079,599	20,139,045
Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	95,303,209	86,809,938
Agricultural
Unpaid principal balance by credit quality indicator
Unpaid principal balance	56,939,486	57,845,197
Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	26,228,511	26,739,407
Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	30,710,975	31,105,790
Residential Real Estate and Other Combined
Unpaid principal balance by credit quality indicator
Unpaid principal balance	64,105,592	58,483,050
Residential
Unpaid principal balance by credit quality indicator
Unpaid principal balance	60,327,720	54,808,376
Residential | 1 - 4 family
Unpaid principal balance by credit quality indicator
Unpaid principal balance	47,376,890	43,060,013
Residential | Consumer - Home equity and lines of credit
Unpaid principal balance by credit quality indicator
Unpaid principal balance	12,950,830	11,748,363
Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	25,225,116	19,850,372
Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	21,447,244	16,175,698
Other | Consumer - Personal
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,777,872	3,674,674
Highest Quality (rating 1) | Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	339,735	650,083
Highest Quality (rating 1) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	36,744	324,038
Highest Quality (rating 1) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	302,991	326,045
Good Quality (rating 2) | Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	15,021,968	18,412,202
Good Quality (rating 2) | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	187,660	177,795
Good Quality (rating 2) | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	7,804,718	6,638,998
Good Quality (rating 2) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,053,749	5,185,147
Good Quality (rating 2) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,412,482	3,541,630
Good Quality (rating 2) | Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	563,359	2,868,632
Acceptable Quality (rating 3) | Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	85,667,111	84,763,249
Acceptable Quality (rating 3) | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	8,558,803	8,470,283
Acceptable Quality (rating 3) | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	50,018,940	44,240,531
Acceptable Quality (rating 3) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	7,555,451	9,271,425
Acceptable Quality (rating 3) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	7,198,994	12,354,765
Acceptable Quality (rating 3) | Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	12,334,923	10,426,245
Fair Quality (rating 4) | Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	83,626,112	70,403,654
Fair Quality (rating 4) | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	12,045,470	11,313,276
Fair Quality (rating 4) | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	31,143,251	31,603,455
Fair Quality (rating 4) | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	14,466,885	11,489,750
Fair Quality (rating 4) | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	17,961,102	13,116,352
Fair Quality (rating 4) | Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	8,009,404	2,880,821
Special Mention | Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	1,854,309	2,351,251
Special Mention | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	147,010	1,948,017
Special Mention | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	886,950	403,234
Special Mention | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	280,791
Special Mention | Other | Construction and land
Unpaid principal balance by credit quality indicator
Unpaid principal balance	539,558
Substandard | Commercial, Agricultural, And Other
Unpaid principal balance by credit quality indicator
Unpaid principal balance	9,260,303	4,389,439
Substandard | Commercial | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	1,287,666	177,691
Substandard | Commercial | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	6,189,290	2,378,937
Substandard | Agricultural | Operating
Unpaid principal balance by credit quality indicator
Unpaid principal balance	228,732	65,813
Substandard | Agricultural | Real Estate
Unpaid principal balance by credit quality indicator
Unpaid principal balance	1,554,615	1,766,998
Performing | Residential Real Estate and Other Combined
Unpaid principal balance by credit quality indicator
Unpaid principal balance	62,723,854	57,596,501
Performing | Residential | 1 - 4 family
Unpaid principal balance by credit quality indicator
Unpaid principal balance	46,199,376	42,220,268
Performing | Residential | Consumer - Home equity and lines of credit
Unpaid principal balance by credit quality indicator
Unpaid principal balance	12,764,081	11,725,714
Performing | Other | Consumer - Personal
Unpaid principal balance by credit quality indicator
Unpaid principal balance	3,760,397	3,650,519
Nonperforming | Residential Real Estate and Other Combined
Unpaid principal balance by credit quality indicator
Unpaid principal balance	1,381,738	886,549
Nonperforming | Residential | 1 - 4 family
Unpaid principal balance by credit quality indicator
Unpaid principal balance	1,177,514	839,745
Nonperforming | Residential | Consumer - Home equity and lines of credit
Unpaid principal balance by credit quality indicator
Unpaid principal balance	186,749	22,649
Nonperforming | Other | Consumer - Personal
Unpaid principal balance by credit quality indicator
Unpaid principal balance	$ 17,475	$ 24,155

Loans - Impaired (Details)

Loans - Impaired (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Jun. 30, 2017
Impaired loans with no specific allowance recorded:
Recorded Investment	$ 3,578,961		$ 3,578,961		$ 3,704,474
Unpaid Principal Balance	3,566,233		3,566,233		3,630,314
Average Recorded Investment	3,604,195	$ 4,107,697	2,993,041	$ 3,681,158
Interest Income Recognized	47,064	43,418	106,435	116,144
Impaired loans with specific allowance recorded:
Recorded Investment	3,647,149		3,647,149		1,322,082
Unpaid Principal Balance	3,555,318		3,555,318		1,266,848
Related Allowance	879,929		879,929		55,680
Average Recorded Investment	3,708,193	1,350,483	3,198,858	1,359,646
Interest Income Recognized	34,865	11,916	100,600	22,606
Total impaired loans:
Recorded Investment	7,226,110		7,226,110		5,026,556
Unpaid Principal Balance	7,121,551		7,121,551		4,897,162
Related Allowance	879,929		879,929		55,680
Average Recorded Investment	7,312,388	5,458,180	6,191,899	5,040,804
Interest Income Recognized	81,929	55,334	207,035	138,750
Commercial | Operating
Impaired loans with no specific allowance recorded:
Recorded Investment	68,661		68,661		164,823
Unpaid Principal Balance	68,546		68,546		164,128
Average Recorded Investment	71,557	192,837	79,059	164,025
Interest Income Recognized	945	3,125	3,133	7,722
Impaired loans with specific allowance recorded:
Recorded Investment	1,223,942		1,223,942		65,701
Unpaid Principal Balance	1,209,438		1,209,438		65,369
Related Allowance	413,434		413,434		6,487
Average Recorded Investment	1,264,773	65,973	1,099,997	60,770
Interest Income Recognized	8,079	906	40,287	2,028
Total impaired loans:
Recorded Investment	1,292,603		1,292,603		230,524
Unpaid Principal Balance	1,277,984		1,277,984		229,497
Related Allowance	413,434		413,434		6,487
Average Recorded Investment	1,336,330	258,810	1,179,056	224,795
Interest Income Recognized	9,024	4,031	43,420	9,750
Commercial | Real Estate
Impaired loans with no specific allowance recorded:
Recorded Investment	1,924,094		1,924,094		643,226
Unpaid Principal Balance	1,913,975		1,913,975		640,881
Average Recorded Investment	1,931,470	663,799	1,283,660	328,484
Interest Income Recognized	27,789	4,749	41,561	7,124
Impaired loans with specific allowance recorded:
Average Recorded Investment		48,321		47,764
Total impaired loans:
Recorded Investment	1,924,094		1,924,094		643,226
Unpaid Principal Balance	1,913,975		1,913,975		640,881
Average Recorded Investment	1,931,470	712,120	1,283,660	376,248
Interest Income Recognized	27,789	4,749	41,561	7,124
Agricultural | Operating
Impaired loans with no specific allowance recorded:
Recorded Investment					7,503
Unpaid Principal Balance					6,848
Average Recorded Investment		16,903		17,218
Interest Income Recognized		125		125
Impaired loans with specific allowance recorded:
Average Recorded Investment		18,902		37,804
Total impaired loans:
Recorded Investment					7,503
Unpaid Principal Balance					6,848
Average Recorded Investment		35,805		55,022
Interest Income Recognized		125		125
Agricultural | Real Estate
Impaired loans with no specific allowance recorded:
Recorded Investment					432,468
Unpaid Principal Balance					371,452
Average Recorded Investment		411,432		425,722
Impaired loans with specific allowance recorded:
Recorded Investment	544,599		544,599		525,068
Unpaid Principal Balance	486,057		486,057		486,056
Related Allowance	30,200		30,200		17,973
Average Recorded Investment	541,395	515,527	534,833	508,658
Interest Income Recognized	272	230	782	593
Total impaired loans:
Recorded Investment	544,599		544,599		957,536
Unpaid Principal Balance	486,057		486,057		857,508
Related Allowance	30,200		30,200		17,973
Average Recorded Investment	541,395	926,959	534,833	934,380
Interest Income Recognized	272	230	782	593
Residential | 1 - 4 family
Impaired loans with no specific allowance recorded:
Recorded Investment	1,580,224		1,580,224		2,448,574
Unpaid Principal Balance	1,577,742		1,577,742		2,439,137
Average Recorded Investment	1,595,115	2,811,564	1,624,132	2,733,003
Interest Income Recognized	18,240	35,254	61,463	100,579
Impaired loans with specific allowance recorded:
Recorded Investment	1,145,971		1,145,971		695,327
Unpaid Principal Balance	1,119,839		1,119,839		679,474
Related Allowance	214,225		214,225		28,857
Average Recorded Investment	1,153,656	661,611	920,649	663,628
Interest Income Recognized	9,193	9,955	30,693	18,199
Total impaired loans:
Recorded Investment	2,726,195		2,726,195		3,143,901
Unpaid Principal Balance	2,697,581		2,697,581		3,118,611
Related Allowance	214,225		214,225		28,857
Average Recorded Investment	2,748,771	3,473,175	2,544,781	3,396,631
Interest Income Recognized	27,433	45,209	92,156	118,778
Residential | Consumer - Home equity and lines of credit
Impaired loans with no specific allowance recorded:
Recorded Investment	5,982		5,982		7,880
Unpaid Principal Balance	5,970		5,970		7,868
Average Recorded Investment	6,053	8,520	6,190	8,926
Interest Income Recognized	90	141	278	450
Impaired loans with specific allowance recorded:
Recorded Investment	182,296		182,296		15,553
Unpaid Principal Balance	182,195		182,195		15,541
Related Allowance	12,180		12,180		414
Average Recorded Investment	182,913	17,202	98,924	17,161
Interest Income Recognized	2,394	447	2,926	835
Total impaired loans:
Recorded Investment	188,278		188,278		23,433
Unpaid Principal Balance	188,165		188,165		23,409
Related Allowance	12,180		12,180		414
Average Recorded Investment	188,966	25,722	105,114	26,087
Interest Income Recognized	2,484	588	3,204	1,285
Other | Construction and land
Impaired loans with specific allowance recorded:
Recorded Investment	532,013		532,013
Unpaid Principal Balance	539,558		539,558
Related Allowance	205,699		205,699
Average Recorded Investment	546,147		525,074
Interest Income Recognized	14,579		25,035
Total impaired loans:
Recorded Investment	532,013		532,013
Unpaid Principal Balance	539,558		539,558
Related Allowance	205,699		205,699
Average Recorded Investment	546,147
Interest Income Recognized	14,579
Other | Consumer - Personal
Impaired loans with no specific allowance recorded:
Average Recorded Investment		2,642		3,780
Interest Income Recognized		24		144
Impaired loans with specific allowance recorded:
Recorded Investment	18,328		18,328		20,433
Unpaid Principal Balance	18,231		18,231		20,408
Related Allowance	4,191		4,191		1,949
Average Recorded Investment	19,309	22,947	19,381	23,861
Interest Income Recognized	348	378	877	951
Total impaired loans:
Recorded Investment	18,328		18,328		20,433
Unpaid Principal Balance	18,231		18,231		20,408
Related Allowance	4,191		4,191		$ 1,949
Average Recorded Investment	19,309	25,589	19,381	27,641
Interest Income Recognized	$ 348	$ 402	$ 877	$ 1,095

Borrowings (Details)

Borrowings (Details) - USD ($)	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Federal Home Loan Bank Borrowings
Advances from Federal Home Loan Banks	$ 5,000,000
Maximum outstanding at any month end	10,075,000	$ 300,000
Average balance during period	$ 6,454,980	$ 575,000
Weighted average interest rate at the end of period	1.55%	0.75%
Weighted average interest rate during period	1.44%	0.75%
Federal Home Loan Bank of Topeka
Federal Home Loan Bank Borrowings
Amount of available advances	$ 40,600,000

Regulatory Matters (Details)

Regulatory Matters (Details) - Equitable Bank - USD ($)	Mar. 31, 2018	Jun. 30, 2017
Compliance with regulatory capital requirements under banking regulations
Total capital (to risk weighted assets), amount	$ 30,827	$ 30,893
Total capital (to risk weighted assets), as a percent	12.20%	13.20%
Tier 1 (core) capital (to risk weighted assets), amount	$ 27,645	$ 27,956
Tier 1 (core) capital (to risk weighted assets), as a percent	10.90%	11.90%
Tier 1 (core) capital (to adjusted total assets), amount	$ 27,645	$ 27,956
Tier 1 (core) capital (to adjusted total assets), as a percent	10.00%	11.40%
Minimum Required for Capital Adequacy Purposes
Total capital (to risk weighted assets), amount	$ 20,248	$ 18,740
Total capital (to risk weighted assets), as a percent	8.00%	8.00%
Tier 1 (core) capital (to risk weighted assets), amount	$ 15,186	$ 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	$ 11,070	$ 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	$ 25,310	$ 23,425
Total capital (to risk weighted assets), as a percent	10.00%	10.00%
Tier 1 (core) capital (to risk weighted assets), amount	$ 20,248	$ 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	$ 13,838	$ 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	$ 27,645	$ 27,956
Tier 1 (core) capital (to risk weighted assets), as a percent	10.90%	11.90%
Minimum Required for Capital Adequacy Purposes
Tier 1 (core) capital (to risk weighted assets), amount	$ 11,389	$ 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	$ 16,451	$ 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	9 Months Ended
	Mar. 31, 2018
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 ($)	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
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	$ 97,936	$ 88,548

Employee Benefit Plan - ESOP (D

Employee Benefit Plan - ESOP (Details) - USD ($)	Jul. 08, 2015	Nov. 08, 2005	Mar. 31, 2018	Mar. 31, 2017	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			$ 124,521	$ 111,615
Shares held by the ESOP
Allocated shares (in shares)			99,206		86,104
Shares allocated to be released			3,966		7,929
Unearned ESOP shares (in shares)			122,946		134,843
Total ESOP shares (in shares)			226,118		228,876
Fair value of unearned ESOP shares			$ 1,290,933		$ 1,348,430
Fair value of allocated shares subject to repurchase obligation			$ 992,922		$ 815,280

Employee Benefit Plan - Stock O

Employee Benefit Plan - Stock Options (Details) - $ / shares	9 Months Ended	12 Months Ended
	Mar. 31, 2018	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	8 years 10 months 24 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 ($)	9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	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	$ 31,652,000	$ 3,517,000
Restricted stock
Share-based compensation
Unrecognized compensation costs	$ 535,222
Period for recognizing unrecognized compensation	3 years 8 months 12 days
Compensation expense	$ 137,976	$ 54,182
Service-Based Stock Awards
Non-vested at beginning of the year (in shares)	89,125
Vested (in shares)	19,987
Non-vested at end of the year (in share)	69,138
Weighted Grant Date Fair Value
Non-vested at beginning of the year (in dollars per share)	$ 8.52
Vested (in dollars per share)	8.27
Non-vested at end of the year (in dollars per share)	$ 8.59
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		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Components of basic earnings per share:
Weighted average common shares outstanding	3,119,978	3,284,630	3,129,294	3,289,170
Net income available to common stockholders	$ 350,100	$ 275,346	$ 571,099	$ 849,868
Basic earnings per share (in dollars per share)	$ 0.11	$ 0.08	$ 0.18	$ 0.26

Earnings per Share - Diluted (D

Earnings per Share - Diluted (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Components of diluted earnings per share:
Weighted average common shares outstanding	3,119,978	3,284,630	3,129,294	3,289,170
Weighted average of net additional shares from restricted stock awards	24,760	53,546	18,802	48,058
Weighted average number of shares outstanding	3,144,738	3,338,176	3,148,096	3,337,228
Net income available to common stockholders	$ 350,100	$ 275,346	$ 571,099	$ 849,868
Diluted earnings per share (in dollars per share)	$ 0.11	$ 0.08	$ 0.18	$ 0.25
Antidilutive securities excluded			20,999

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Mar. 31, 2018	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	1,306,454	$ 1,410,955
Recurring
Assets:
Securities available-for-sale	1,306,454	1,410,955
Recurring | Level 2
Assets:
Securities available-for-sale	$ 1,306,454	$ 1,410,955

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($)	Mar. 31, 2018	Jun. 30, 2017
Financial assets:
Cash and due from financial institutions	$ 7,669,608	$ 4,881,007
Interest-earning deposits	28,317,000
Securities available-for-sale	1,306,454	1,410,955
Securities held-to-maturity	711,922	745,873
Federal Home Loan Bank stock	282,300	453,400
Loans, net	255,946,923	236,545,125
Accrued interest receivable	1,512,532	1,297,908
Financial liabilities:
Noninterest-bearing deposits	37,452,083	29,546,051
Interest-bearing deposits	223,257,251	179,512,265
Federal funds purchased		399,000
Federal Home Loan Bank Borrowings	5,000,000	6,745,400
Accrued interest payable and other liabilities	2,743,811	820,229
Carrying Amount | Level 1
Financial assets:
Cash and due from financial institutions	7,669,608	4,881,007
Interest-earning deposits	28,317,000
Federal Home Loan Bank stock	282,300	453,400
Accrued interest receivable	1,512,532	1,297,908
Financial liabilities:
Accrued interest payable and other liabilities	2,743,811	820,229
Carrying Amount | Level 2
Financial assets:
Securities available-for-sale	1,306,454	1,410,955
Securities held-to-maturity	710,943	735,978
Loans, net	255,946,923	236,545,125
Mortgage servicing rights	858,035	852,715
Credit enhancement receivable	97,001
Financial liabilities:
Noninterest-bearing deposits	37,452,083	29,546,051
Interest-bearing deposits	223,257,251	179,512,265
Federal funds purchased		399,000
Federal Home Loan Bank Borrowings	5,000,000	6,745,400
Estimated Fair Value | Level 1
Financial assets:
Cash and due from financial institutions	7,670,000	4,881,000
Interest-earning deposits	28,317,000
Federal Home Loan Bank stock	282,000	453,000
Accrued interest receivable	1,513,000	1,298,000
Financial liabilities:
Accrued interest payable and other liabilities	2,744,000	820,000
Estimated Fair Value | Level 2
Financial assets:
Securities available-for-sale	1,306,000	1,411,000
Securities held-to-maturity	712,000	746,000
Loans, net	251,425,000	232,931,000
Mortgage servicing rights	1,199,000	1,089,000
Credit enhancement receivable	97,000
Financial liabilities:
Noninterest-bearing deposits	37,452,000	29,546,000
Interest-bearing deposits	224,212,000	185,040,000
Federal funds purchased		399,000
Federal Home Loan Bank Borrowings	$ 5,000,000	$ 6,745,000

Accumulated Other Comprehensi49

Accumulated Other Comprehensive Loss (Details) - USD ($)	9 Months Ended	12 Months Ended
	Mar. 31, 2018	Jun. 30, 2017
Accumulated Other Comprehensive Loss
Unrealized holding losses on securities available-for-sale	$ (38,810)	$ (16,034)
Tax expense	10,890	5,452
Total accumulated other comprehensive loss	$ (27,920)	$ (10,582)

Income Taxes (Details)

Income Taxes (Details) - USD ($)	Dec. 21, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017
Income Taxes
Statutory federal corporate tax rate (as a percent)	34.00%	21.00%
Blended federal tax rate (as a percent)				28.00%
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Provision computed at the statutory federal tax rate		$ (141,779)	$ (140,748)	$ (373,269)	$ (455,147)
State income taxes, net of federal tax		(15,039)	(11,264)	(42,029)	(39,019)
Release of unearned ESOP shares and stock awards		(2,239)	(1,834)	4,225	3,713
Nondeductible expenses		(1,431)	(2,161)	(5,441)	(5,875)
Effect of Tax Cuts and Jobs Act				(347,957)
Other		5,318	17,387	5,318	7,527
Total income tax expense		$ (155,170)	$ (138,620)	$ (759,153)	$ (488,801)

Stock Buyback (Details)

Stock Buyback (Details)	1 Months Ended									9 Months Ended
	Mar. 31, 2018$ / sharesshares	Feb. 28, 2018$ / sharesshares	Jan. 31, 2018$ / sharesshares	Dec. 31, 2017$ / sharesshares	Nov. 30, 2017$ / sharesshares	Oct. 31, 2017shares	Sep. 30, 2017shares	Aug. 31, 2017$ / sharesshares	Jul. 31, 2017$ / sharesshares	Mar. 31, 2018item$ / sharesshares	Nov. 21, 2017shares	Oct. 07, 2016shares
Common stock purchased during the period:
Number of stock repurchase programs | item										2
Maximum number of shares that can be purchased	342,303									342,303
First Stock Repurchase Program
Common stock purchased during the period:
Maximum number of shares that can be purchased												173,857
Second Stock Repurchase Program
Common stock purchased during the period:
Maximum number of shares that can be purchased											168,446
Common Stock
Common stock purchased during the period:
Shares purchased	27,000	15,000	2,000	6,500	436			2,000	1,600	54,536
Average price paid per share | $ / shares	$ 10.62	$ 10.65	$ 10.50	$ 10.35	$ 10.40			$ 10.15	$ 10.20	$ 10.56
Common Stock | Stock Repurchase Programs
Common stock purchased during the period:
Shares purchased	223,058	196,058	181,058	179,058	172,122	171,686	171,686	171,686	169,686
Maximum number of shares that may yet be purchased	117,510	144,510	159,510	161,510	168,010	2,171	2,171	2,171	4,171	117,510