Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Sep. 30, 2016 | Dec. 27, 2016 | |
Document And Entity Information [Abstract] | ||
Entity Registrant Name | Community Savings Bancorp, Inc. | |
Entity Central Index Key | 1,682,593 | |
Trading Symbol | csb | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 0 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 |
Assets | ||
Cash and due from banks | $ 2,401 | $ 1,969 |
Interest-earning demand deposits in other financial institutions | 1,676 | 1,215 |
Cash and cash equivalents | 4,077 | 3,184 |
Interest-earning time deposits in other financial institutions | 4,570 | 5,567 |
Investment securities available-for-sale, at fair value | 10,612 | 11,097 |
Other investment securities | 940 | 940 |
Loans | 32,446 | 32,882 |
Less: allowance for loan losses | (253) | (253) |
Loans, net | 32,193 | 32,629 |
Premises and equipment, net | 442 | 452 |
Foreclosed assets, net | 23 | 34 |
Accrued interest receivable | 174 | 185 |
Other assets | 575 | 191 |
Total assets | 53,606 | 54,279 |
Deposits | ||
Demand | 10,231 | 9,058 |
Savings and money market | 22,233 | 23,127 |
Time | 7,816 | 7,917 |
Total deposits | 40,280 | 40,102 |
Federal Home Loan Bank advances | 6,200 | 7,250 |
Payments by borrowers for taxes and insurance | 133 | 82 |
Other liabilities | 328 | 190 |
Total liabilities | 46,941 | 47,624 |
Equity | ||
Retained earnings | 6,571 | 6,567 |
Accumulated other comprehensive income | 94 | 88 |
Total equity | 6,665 | 6,655 |
Total liabilities and equity | $ 53,606 | $ 54,279 |
Condensed Statements of Income
Condensed Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Interest Income | ||
Loans, including fees | $ 356 | $ 339 |
Taxable securities | 33 | 59 |
Tax exempt securities | 18 | 13 |
Interest-bearing deposits | 32 | 34 |
Total interest income | 439 | 445 |
Interest Expense | ||
Deposits | 30 | 39 |
Federal Home Loan Bank advances | 22 | 16 |
Total interest expense | 52 | 55 |
Net Interest Income | 387 | 390 |
Provision for Loan Losses | ||
Net Interest Income After Provision for Loan Losses | 387 | 390 |
Noninterest Income | ||
Service charges and fees | 65 | 83 |
Gain (loss) on sale of foreclosed assets, net | 29 | (1) |
Gain on sale of branch offices | 810 | |
Other income | 5 | 1 |
Total noninterest income | 99 | 893 |
Noninterest Expense | ||
Salaries, employee benefits, and directors fees | 200 | 205 |
Occupancy and equipment | 25 | 47 |
Data processing | 62 | 115 |
Correspondent bank service charges | 47 | 56 |
Franchise taxes | 12 | 12 |
FDIC insurance premiums | 8 | 24 |
Professional services | 60 | 57 |
Advertising | 3 | 5 |
Office supplies | 18 | 22 |
Other expense | 49 | 75 |
Total noninterest expense | 484 | 618 |
Income Before Federal Income Tax | 2 | 665 |
Federal Income Tax Expense (Benefit) | (2) | 37 |
Net Income | $ 4 | $ 628 |
Condensed Statements of Compreh
Condensed Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 4 | $ 628 |
Other comprehensive income: | ||
Unrealized holding gains on securities available for sale | 9 | 176 |
Tax effect | (3) | (60) |
Total other comprehensive income | 6 | 116 |
Comprehensive income | $ 10 | $ 744 |
Condensed Statements of Changes
Condensed Statements of Changes in Equity - USD ($) $ in Thousands | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total |
Balance at Jun. 30, 2015 | $ 5,888 | $ (110) | $ 5,778 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Net income | 628 | 628 | |
Other comprehensive income | 116 | 116 | |
Balance at Sep. 30, 2015 | 6,516 | 6 | 6,522 |
Balance at Jun. 30, 2016 | 6,567 | 88 | 6,655 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Net income | 4 | 4 | |
Other comprehensive income | 6 | 6 | |
Balance at Sep. 30, 2016 | $ 6,571 | $ 94 | $ 6,665 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash Flows from Operating Activities | ||
Net income | $ 4 | $ 628 |
Adjustments to reconcile net income to net cash from operating activities: | ||
Depreciation and amortization | 17 | 20 |
Deferred income tax expense | (5) | 34 |
Amortization of premiums and discounts, net | 55 | 58 |
(Gain) loss on sale of foreclosed assets | (29) | 1 |
Impairment loss on foreclosed assets | 26 | |
Gain on sale of branch offices | (810) | |
Net changes in: | ||
Accrued interest receivable | 11 | 23 |
Other assets | (384) | 199 |
Other liabilities | 140 | (190) |
Net cash from operating activities | (191) | (11) |
Cash Flows from Investing Activities | ||
Net change in interest-earning time deposits | 998 | |
Purchases of available-for-sale securities | (1,507) | |
Proceeds from maturities of available-for-sale securities | 1,960 | 784 |
Purchase of loans | (566) | |
Net change in loans | 421 | (396) |
Purchase of premises and equipment | (7) | (12) |
Proceeds from sale of foreclosed assets | 40 | 17 |
Cash paid in sale of branch offices | (12,568) | |
Net cash from investing activities | 1,905 | (12,741) |
Cash Flows from Financing Activities | ||
Net change in deposits | 178 | (1,433) |
Proceeds from Federal Home Loan Bank advances | 3,700 | 8,750 |
Repayment of Federal Home Loan Bank advances | (4,750) | (2,000) |
Payments by borrowers for taxes and insurance | 51 | 70 |
Net cash from financing activities | (821) | 5,387 |
Net Change in Cash and Cash Equivalents | 893 | (7,365) |
Beginning Cash and Cash Equivalents | 3,184 | 10,148 |
Ending Cash and Cash Equivalents | 4,077 | 2,783 |
Cash paid during the period for: | ||
Interest on deposits and borrowings | $ 52 | 55 |
Supplemental Disclosure of Noncash Investing Activities | ||
Transfers from loans to foreclosed assets | $ 18 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Sep. 30, 2016 | |
Basis Of Presentation [Abstract] | |
Basis of Presentation | Note 1: Basis of Presentation Community Savings Bancorp, Inc. (the “Registrant”), headquartered in Caldwell, Ohio, was formed to serve as the stock holding company for Community Savings (the “Company”) following its mutual-to-stock conversion. As of September 30, 2016, the stock conversion had not been completed, and as of that date, the Registrant had no assets or liabilities, and had not conducted any business other than that of an organizational nature. Accordingly, financial and other information of the Company is included in this quarterly report. The Registrant’s registration statement on Form S-1, as amended, was declared effective as of November 14, 2016. The completion of the conversion is subject to the satisfaction of certain conditions. The accompanying unaudited condensed balance sheet of the Company as of June 30, 2016, which has been derived from audited financial statements, and unaudited condensed financial statements of the Company as of September 30, 2016 and for the three months ended September 30, 2016 and 2015, were prepared in accordance with the instructions for Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America. Accordingly, these condensed financial statements should be read in conjunction with the audited financial statements and notes thereto of the Company as of and for the year ended June 30, 2016 included in the Registrant’s Form S-1. Reference is made to the accounting policies of the Company described in the Notes to the Financial Statements contained in the Form S-1. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) which are necessary for a fair presentation of the unaudited financial statements have been included to present fairly the financial position as of September 30, 2016 and the results of operations and cash flows for the three months ended September 30, 2016 and 2015. All interim amounts have not been audited and the results of operations for the three months ended September 30, 2016, herein are not necessarily indicative of the results of operations to be expected for the entire fiscal year. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, and fair values of financial instruments. |
Securities
Securities | 3 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Note 2: Securities The amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities are as follows: Amortized Gross Gross Fair (In thousands) Available-for-sale Securities: September 30, 2016 Mortgage-backed securities of U.S. government sponsored entities - residential $ 6,608 $ 96 $ (1 ) $ 6,703 Collateralized mortgage obligations of government sponsored entities - residential 418 14 - 432 State and political subdivisions Taxable 1,417 18 (6 ) 1,429 Nontaxable 2,027 21 - 2,048 $ 10,470 $ 149 $ (7 ) $ 10,612 June 30, 2016 U. S. Government agency bonds $ 1,500 $ - $ (3 ) $ 1,497 Mortgage-backed securities of U.S. government sponsored entities - residential 5,492 81 - 5,573 Collateralized mortgage obligations of government sponsored entities - residential 515 17 - 532 State and political subdivisions Taxable 1,425 20 (7 ) 1,438 Nontaxable 2,032 25 - 2,057 $ 10,964 $ 143 $ (10 ) $ 11,097 The amortized cost and fair value of available-for-sale securities at September 30, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. September 30, 2016 Amortized Fair (In thousands) Within one year $ - $ - One to five years 1,148 1,166 Five to ten years 285 286 Beyond ten years 2,011 2,025 3,444 3,477 Mortgage-backed securities of U.S. government sponsored entities - residential 6,608 6,703 Collateralized mortgage obligations government sponsored entities - residential 418 432 Totals $ 10,470 $ 10,612 The Company had no sales of investment securities during the three-month periods ended September 30, 2016 and 2015. The Company had pledged certain of its investment securities with a carrying value of $3.3 million at both September 30, 2016 and June 30, 2016, and $200,000 of interest-earning demand deposits and $110,000 of interest-earning time deposits at both September 30, 2016 and June 30, 2016, to secure public deposits. The Company’s other investment securities consists of $915,000 of stock in the FHLB and $25,000 of stock in the Company’s data service provider at both September 30, 2016 and June 30, 2016. The following tables show the Company’s investments’ gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2016 and June 30, 2016: Less than 12 Months 12 Months or Longer Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) September 30, 2016 Available-for-sale Securities: Mortgage-backed securities of U.S. sponsored entities - residential $ 650 $ (1 ) $ - $ - $ 650 $ (1 ) State and political subdivisions Taxable - - 263 (6 ) 263 (6 ) $ 650 $ (1 ) $ 263 $ (6 ) $ 913 $ (7 ) June 30, 2016 Available-for-sale Securities: U. S. Government agency bonds $ - $ - $ 997 $ (3 ) $ 997 $ (3 ) State and political subdivisions Taxable - - 263 (7 ) 263 (7 ) $ - $ - $ 1,260 $ (10 ) $ 1,260 $ (10 ) Other-than-temporary Impairment At September 30, 2016 and June 30, 2016, the decline in fair value of the Company’s investment securities is attributable to changes in interest rates and not credit quality. The contractual terms of these investments do not permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Company does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before recovery of their amortized cost bases, the Company does not consider these securities to be other-than-temporarily impaired at September 30, 2016 and June 30, 2016. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 3 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | Note 3: Loans and Allowance for Loan Losses Loans at September 30, 2016 and June 30, 2016 include: September 30, June 30, 2016 2016 (In thousands) Real estate One- to four-family residential $ 23,227 $ 23,065 Home equity lines of credit 3,252 3,312 Commercial and multi-family 1,463 1,641 Consumer and other 4,503 4,863 Total loans 32,445 32,881 Net deferred loan costs 1 1 Allowance for loan losses (253 ) (253 ) Net loans $ 32,193 $ 32,629 The risk characteristics applicable to each segment of the loan portfolio are described below: Residential Real Estate and Home Equity Lines of Credit Residential mortgage loans and home equity lines of credit are secured by one-to four-family residences and are comprised of owner-occupied and non-owner-occupied loans. Construction real estate loans (immaterial for the periods presented) are usually based upon estimates of costs and estimated value of the completed project and include independent appraisal reviews and a financial analysis of the developers and property owners. Sources of repayment of these loans may include permanent loans, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. The Company generally establishes a maximum loan-to-value ratio and requires private mortgage insurance if that ratio is exceeded. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas, such as unemployment levels. Repayment can also be impacted by changes in property values or residential properties. Risk is mitigated by the fact that loans are of smaller individual amounts and spread over a large number of borrowers. Multi-family Residential Real Estate Multi-family real estate loans generally involve a greater degree of credit risk than one-to four- family residential mortgage loans and carry larger loan balances. This increased credit risk is a result of several factors, including the concentration of principal in a limited number of loans and borrowers, the effects of general economic conditions on income-producing properties, and the increased difficulty of evaluating and monitoring these types of loans. Furthermore, the repayment of loans secured by multi-family real estate is typically dependent upon the successful operation of the related real estate property. If the cash flow from the project is reduced, the borrower’s ability to repay the loan may be impaired. Commercial Real Estate Commercial real estate loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. The characteristics of properties securing the Company’s real estate portfolio are diverse, but with geographic location almost entirely in the Company’s market area. Management monitors and evaluates commercial real estate loans based on collateral, geography, and risk grade criteria. In general, the Company avoids financing single purpose projects unless other underwriting factors are present to help mitigate risk. Consumer Loans Consumer loans entail greater credit risk than residential mortgage loans, particularly in the case of consumer loans that are unsecured or secured by assets that depreciate rapidly, such as automobiles. In such cases, repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment for the outstanding loan and the remaining deficiency often does not warrant further substantial collection efforts against the borrower. In particular, amounts realizable on the sale of repossessed automobiles may be significantly reduced based upon the condition of the automobiles and the lack of demand for used automobiles. The following table presents, by portfolio segment, the activity in the allowance for loan losses for the three months ended September 30, 2016 and the recorded investment in loans and impairment method as of September 30, 2016: September 30, 2016 Real Estate Commercial 1-4 Family Home Equity and Multi- Consumer Residential Lines of Credit Family and Other Unallocated Total (In thousands) Allowance for loan losses: Balance, July 1, 2016 $ 161 $ 22 $ 10 $ 24 $ 36 $ 253 Provision for loan losses - - (1 ) (1 ) 2 - Charge-offs - - - - - - Recoveries - - - - - - Balance, September 30, 2016 $ 161 $ 22 $ 9 $ 23 $ 38 $ 253 Allowance for loan losses: Ending balance, individually evaluated for impairment $ 9 $ - $ - $ - $ - $ 9 Ending balance, collectively evaluated for impairment $ 152 $ 22 $ 9 $ 23 $ 38 $ 244 Loans: Ending balance $ 23,227 $ 3,252 $ 1,463 $ 4,503 $ 32,445 Ending balance; individually evaluated for impairment $ 405 $ 13 $ - $ - $ 418 Ending balance; collectively evaluated for impairment $ 22,822 $ 3,239 $ 1,463 $ 4,503 $ 32,027 The following table presents, by portfolio segment, the activity in the allowance for loan losses for the three months ended September 30, 2015: September 30, 2015 Real Estate Commercial 1-4 Family Home Equity and Multi- Consumer Residential Lines of Credit Family and Other Unallocated Total (In thousands) Allowance for loan losses: Balance, July 1, 2015 $ 154 $ 21 $ 3 $ 8 $ 102 $ 288 Provision for loan losses 19 (2 ) 3 1 (21 ) - Charge-offs (13 ) - - - - (13 ) Recoveries - - - - - - Balance, September 30, 2015 $ 160 $ 19 $ 6 $ 9 $ 81 $ 275 The following table presents the recorded investment in loans and impairment method as of June 30, 2016: June 30, 2016 Real Estate Commercial 1-4 Family Home Equity and Multi- Consumer Residential Lines of Credit Family and Other Unallocated Total (In thousands) Allowance for loan losses: Ending balance, individually evaluated for impairment $ 10 $ - $ - $ - $ - $ 10 Ending balance, collectively evaluated for impairment $ 151 $ 22 $ 10 $ 24 $ 36 $ 243 Loans: Ending balance $ 23,065 $ 3,312 $ 1,641 $ 4,863 $ 32,881 Ending balance; individually evaluated for impairment $ 406 $ 14 $ - $ - $ 420 Ending balance; collectively evaluated for impairment $ 22,659 $ 3,298 $ 1,641 $ 4,863 $ 32,461 Internal Risk Categories The Company has adopted a standard loan grading system for all loans. Loans are selected for a grading review based on certain characteristics, including concentrations of credit, subprime criteria, and upon delinquency of 90 days or more. Definitions are as follows: Pass Special Mention Substandard Doubtful Loss The following tables present the credit risk profile of the Company’s loan portfolio based on internal rating category and payment activity as of September 30, 2016 and June 30, 2016: September 30, 2016 Real Estate Commercial 1-4 Family Home Equity and Multi- Consumer Residential Lines of Credit Family and Other Total (In thousands) Pass $ 22,445 $ 3,179 $ 1,463 $ 4,503 $ 31,590 Special mention - - - - - Substandard 782 73 - - 855 Doubtful - - - - - Total $ 23,227 $ 3,252 $ 1,463 $ 4,503 $ 32,445 June 30, 2016 Real Estate Commercial 1-4 Family Home Equity and Multi- Consumer Residential Lines of Credit Family and Other Total (In thousands) Pass $ 22,258 $ 3,238 $ 1,641 $ 4,863 $ 32,000 Special mention - - - - - Substandard 807 74 - - 881 Doubtful - - - - - Total $ 23,065 $ 3,312 $ 1,641 $ 4,863 $ 32,881 The Company evaluates the loan risk grading system definitions and allowance for loan losses methodology on an ongoing basis. No significant changes were made to either during the past year. The following tables present the Company’s loan portfolio aging analysis of the recorded investment in loans as of September 30, 2016 and June 30, 2016: September 30, 2016 Total Loans > 30-59 Days 60-89 Days Greater Than Total Total Loans 90 Days & Past Due Past Due 90 Days Past Due Current Receivable Accruing (In thousands) Real estate 1-4 family residential $ 148 $ - $ 94 $ 242 $ 22,985 $ 23,227 $ - Home equity lines of credit 2 - 5 7 3,245 3,252 - Commercial and multi-family 15 - - 15 1,448 1,463 - Consumer and other - - - - 4,503 4,503 - Total $ 165 $ - $ 99 $ 264 $ 32,181 $ 32,445 $ - June 30, 2016 Total Loans > 30-59 Days 60-89 Days Greater Than Total Total Loans 90 Days & Past Due Past Due 90 Days Past Due Current Receivable Accruing (In thousands) Real estate 1-4 family residential $ 97 $ 97 $ 46 $ 240 $ 22,825 $ 23,065 $ - Home equity lines of credit - - - - 3,312 3,312 - Commercial and multi-family 15 - - 15 1,626 1,641 - Consumer and other - - - - 4,863 4,863 - Total $ 112 $ 97 $ 46 $ 255 $ 32,626 $ 32,881 $ - A loan is considered impaired, in accordance with the impairment accounting guidance (ASC 310-10-35-16), when based on current information and events, it is probable the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming loans, but also include loans modified in troubled debt restructurings. The following table presents impaired loan information as of September 30, 2016 and for the three months ended September 30, 2016 and 2015: For the three months ended As of and for the three months ended September 30, 2016 September 30, 2015 Unpaid Allowance for Loan Average Interest Average Interest Recorded Principal Losses Recorded Income Recorded Income (In thousands) Loans with no related allowance recorded: Real estate 1-4 family residential $ 307 $ 307 $ - $ 307 $ 1 $ 225 $ 1 Home equity lines of credit 13 13 - 13 - 20 - Commercial and multi-family - - - - - - - Consumer and other - - - - - - - Loans with an allowance recorded: Real estate 1-4 family residential 98 100 9 98 - 108 - Home equity lines of credit - - - - - - - Commercial and multi-family - - - - - - - Consumer and other - - - - - - - Totals $ 418 $ 420 $ 9 $ 418 $ 1 $ 353 $ 1 The following table presents impaired loan information as of June 30, 2016: As of June 30, 2016 Unpaid Allowance Recorded Principal Losses (In thousands) Loans with no related allowance recorded: Real estate 1-4 family residential $ 306 $ 306 $ - Home equity lines of credit 14 14 - Commercial and multi-family - - - Consumer and other - - - Loans with an allowance recorded: Real estate 1-4 family residential 100 102 10 Home equity lines of credit - - - Commercial and multi-family - - - Consumer and other - - - Totals $ 420 $ 422 $ 10 The recorded investment in loans excludes accrued interest receivable and loan origination fees, net due to immateriality. For purposes of this disclosure, the unpaid principal balance is not reduced for partial charge-offs. Interest income recognized on a cash basis was not materially different than interest income recognized. The following table presents the Company’s nonaccrual loans at September 30, 2016 and June 30, 2016. The table excludes performing troubled debt restructurings. September 30, June 30, 2016 2016 (In thousands) Real estate 1-4 family residential $ 311 $ 310 Home equity lines of credit 13 14 Commercial and multi-family - - Consumer and other - - Total nonaccrual $ 324 $ 324 At September 30, 2016 and June 30, 2016, the Company had certain loans that were modified, in previous years, in troubled debt restructurings and impaired. The modification of terms of such loans included one or a combination of the following: an extension of maturity, a reduction of the stated interest rate or a permanent reduction of the recorded investment in the loan. The Company had loans modified, in previous years, in a troubled debt restructuring totaling $92,000 at both September 30, 2016 and June 30, 2016. Troubled debt restructured loans had specific allowances totaling $7,000 at both September 30, 2016 and June 30, 2016. At September 30, 2016, the Company had no commitments to lend additional funds to borrowers with troubled debt restructured loans. No loans were modified as troubled debt restructurings during either of the three month periods ended September 30, 2016 or 2015. The Company had no troubled debt restructurings modified during the twelve months ended September 30, 2016 or 2015 that subsequently defaulted during the three-month periods ended September 30, 2016 or 2015. A troubled debt restructured loan is considered to be in payment default once it is 30 days contractually past due under the loan’s modified terms. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Sep. 30, 2016 | |
Regulated Operations [Abstract] | |
Regulatory Matters | Note 4: Regulatory Matters The Company is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary, actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Furthermore, the Company’s regulators could require adjustments to regulatory capital not reflected in these financial statements. Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios (set forth in the table below) of total capital, Tier I capital and common equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of leverage capital to adjusted average total assets (as defined). Management believes, as of September 30, 2016 and June 30, 2016, that the Company meets all capital adequacy requirements to which it is subject. Basel III was effective for the Company on January 1, 2015. Basel III requires the Company to maintain minimum amounts and ratios of common equity Tier 1 capital to risk-weighted assets, as defined in the regulation. Under the new Basel III rules, in order to avoid limitations on capital distributions, including dividends, the Company must hold a capital conservation buffer above the adequately capitalized common equity Tier 1 capital to risk-weighted assets ratio. The capital conservation buffer is being phased in from zero percent to 2.50 percent by 2019. Under Basel III, the Company elected to opt-out of including accumulated other comprehensive income in regulatory capital. As of September 30, 2016 and June 30, 2016, the most recent notification categorized the Company as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Company must maintain minimum total capital, Tier I capital, common equity Tier 1 capital and leverage capital ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the Company’s category. The Company’s actual capital amounts and ratios are presented in the following table: Actual For Capital Adequacy To Be Well Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of September 30, 2016 Total Capital (to Risk-Weighted Assets) $ 6,824 27.6 % $ 1,978 8.0 % $ 2,473 10.0 % Tier I Capital (to Risk-Weighted Assets) $ 6,571 26.6 % $ 1,484 6.0 % $ 1,978 8.0 % Common Equity Tier I Capital (to Risk-Weighted Assets) $ 6,571 26.6 % $ 1,113 4.5 % $ 1,607 6.5 % Leverage Capital (to Adjusted Average Total Assets) $ 6,571 12.3 % $ 2,142 4.0 % $ 2,677 5.0 % As of June 30, 2016 Total Capital (to Risk-Weighted Assets) $ 6,820 27.7 % $ 1,969 8.0 % $ 2,462 10.0 % Tier I Capital (to Risk-Weighted Assets) $ 6,567 26.7 % $ 1,477 6.0 % $ 1,969 8.0 % Common Equity Tier I Capital (to Risk-Weighted Assets) $ 6,567 26.7 % $ 1,108 4.5 % $ 1,600 6.5 % Leverage Capital (to Adjusted Average Total Assets) $ 6,567 11.9 % $ 2,205 4.0 % $ 2,756 5.0 % |
Disclosures about Fair Value of
Disclosures about Fair Value of Assets and Liabilities | 3 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Disclosures about Fair Value of Assets and Liabilities | Note 5: Disclosures about Fair Value of Assets and Liabilities Fair value is the exchange price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: Level 1 Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 Significant unobservable inputs that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Recurring Measurements The following table presents the fair value measurement of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2016 and June 30, 2016: Fair Value Measurement Using Fair Quoted Prices in Significant Other Significant (In thousands) September 30, 2016 Mortgage-backed securities of U.S. of government sponsored entities - residential $ 6,703 $ - $ 6,703 $ - Collateralized mortgage obligations of government sponsored entities - residential 432 - 432 - State and politacal subdivisions: Taxable 1,429 - 1,429 - Nontaxable 2,048 - 2,048 - $ 10,612 $ - $ 10,612 $ - June 30, 2016 U. S. Government agency bonds $ 1,497 $ - $ 1,497 $ - Mortgage-backed securities of U.S. of government sponsored entities - residential 5,573 - 5,573 - Collateralized mortgage obligations of government sponsored entities - residential 532 - 532 - State and politacal subdivisions: Taxable 1,438 - 1,438 - Nontaxable 2,057 - 2,057 - $ 11,097 $ - $ 11,097 $ - Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. There were no assets classified within Level 3 of the fair value hierarchy measured on a recurring basis. There were no transfers between Level 1 and Level 2 during the periods ended September 30, 2016 and 2015. Available-for-sale Securities Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flow. Such securities are classified within Level 2 of the valuation hierarchy. Nonrecurring Measurements The Company had no assets measured at fair value on a non-recurring basis that were revalued during the period ended September 30, 2016. The following table presents fair value measurements of assets measured at fair value on a non-recurring basis and the level within the fair value hierarchy in which fair value measurements fall at June 30, 2016: Fair Value Measurement Using Fair Quoted Prices in Significant Significant (In thousands) June 30, 2016 Impaired loans Real estate One-to four- family residential $ 90 $ - $ - $ 90 Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a non-recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. Impaired Loans (Collateral Dependent) The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Appraisals for collateral-dependent impaired loans are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Unobservable (Level 3) Inputs The following table presents quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements: Fair Value Valuation Technique Unobservable Inputs Range (In thousands) June 30, 2016 Impaired loans (collateral dependent) - residential real estate $ 90 Sales comparison approach Adjustment for differences between the comparable real estate sales 10 % Fair Value of Financial Instruments The following table presents the carrying amount and estimated fair values of the Company’s financial instruments not carried at fair value and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2016 and June 30, 2016. Fair Value Measurement Using Carrying Quoted Prices in Significant Other Significant Total (In thousands) September 30, 2016 Financial assets Cash and cash equivalents $ 4,077 $ 4,077 $ - $ - $ 4,077 Interest-earning time deposits 4,570 4,570 - - 4,570 Other investment securities 940 - - 940 940 Loans,net 32,193 - - 34,036 34,036 Accrued interest receivable 174 - 174 - 174 Financial liabilities Deposits 40,280 32,464 7,811 - 40,275 Federal Home Loan Bank advances 6,200 - 6,258 - 6,258 Payments by borrowers for taxes and insurance 133 - 133 - 133 June 30, 2016 Financial assets Cash and cash equivalents $ 3,184 $ 3,184 $ - $ - $ 3,184 Interest-earning time deposits 5,567 5,567 - - 5,567 Other investment securities 940 - - 940 940 Loans,net 32,629 - - 34,368 34,368 Accrued interest receivable 185 - 185 - 185 Financial liabilities Deposits 40,102 32,185 7,932 - 40,117 Federal Home Loan Bank advances 7,250 - 7,316 - 7,316 Payments by borrowers for taxes and insurance 82 - 82 - 82 The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying balance sheets at amounts other than fair value. Cash and Cash Equivalents and Interest-earning Time Deposits The carrying amount of cash, short-term instruments and time deposits approximate fair value and are classified as Level 1. Other Investment Securities Due to restrictions placed on their transferability, the FHLB and COCC stock are carried at cost, which approximates fair value based on redemption provisions resulting in a Level 3 classification. Loans Fair values of loans are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values, resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality, resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value of collateral as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. Accrued Interest Receivable and Payable The carrying amounts of accrued interest approximate fair value, resulting in a Level 2 classification. Deposits The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 1 classification. The carrying amounts of variable rate, fixed-term money market accounts and certificates of deposit approximate their fair values at the reporting date resulting in a Level 1 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits, resulting in a Level 2 classification. Federal Home Loan Bank Advances The fair values of FHLB advances are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements, resulting in a Level 2 classification. Payments by Borrowers for Taxes and Insurance The fair value of escrow accounts is estimated to approximate the carrying amount resulting in a Level 2 classification. Off Balance Sheet Instruments Fair values of off-balance sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of commitments is not material. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 3 Months Ended |
Sep. 30, 2016 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Accumulated Other Comprehensive Loss | Note 6: Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss by component, net of tax, for the three months ended September 30, 2016 and 2015 are as follows: Three Months Ended September 30, 2016 2015 (In thousands) Beginning balance $ 88 $ (110 ) Other comprehensive income before reclassification 9 176 Tax effect (3 ) (60 ) Net current period other comprehensive income 6 116 Ending balance $ 94 $ 6 There were no material items reclassified from accumulated other comprehensive loss to the statement of operations for the three-month periods ended September 30, 2016 and 2015. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Sep. 30, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | Note 7: Recent Accounting Pronouncements FASB ASU 2014-09, Revenue from Contracts with Customers FASB ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities. Recognition and Measurement of Financial Assets and Financial Liabilities For public business FASB ASU 2016-02, Leases. Leases ● A lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and ● A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing. Public business entities should apply the amendments in ASU 2016-02 for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years (i.e., January 1, 2019, for a calendar year entity). Early application is permitted for all public business entities upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. Management is currently evaluating the impact of adopting this guidance on the Company’s financial statements. FASB ASU 2016-13 Financial Instruments-Credit Losses. |
Plan of Conversion
Plan of Conversion | 3 Months Ended |
Sep. 30, 2016 | |
Plan Of Conversion And Change In Corporate Form [Abstract] | |
Plan of Conversion | Note 8: Plan of Conversion and Change in Corporate Form On August 25, 2016, the Board of Directors of the Company adopted a plan of conversion (Plan). The Plan is subject to the approval of the Office of the Comptroller of the Currency and the Board of Governors of the Federal Reserve System and must be approved by the affirmative vote of at least a majority of the total votes eligible to be cast by the voting members of the Company at a special meeting. The Plan sets forth that the Company proposes to convert into a stock savings bank structure with the establishment of a stock holding company (Community Savings Bancorp, Inc.), as parent of the Company. The Company will convert to the stock form of ownership, followed by the issuance of all of the Company’s outstanding stock to Community Savings Bancorp, Inc. Pursuant to the Plan, the Company will determine the total offering value and number of shares of common stock based upon an independent appraiser’s valuation. The stock will be priced at $10.00 per share. In addition, the Company’s Board of Directors will adopt an employee stock ownership plan (ESOP) which will subscribe for up to 8% of the common stock sold in the offering. Community Savings Bancorp, Inc. is organized as a corporation under the laws of the State of Maryland and will own all of the outstanding common stock of the Company upon completion of the conversion. The costs of issuing the common stock will be deferred and deducted from the sales proceeds of the offering. If the conversion is unsuccessful, all deferred costs will be charged to operations. The Company had incurred deferred conversion costs totaling $368,000 as of September 30, 2016. At the completion of the conversion to stock form, the Company will establish a liquidation account in the amount of retained earnings contained in the final prospectus. The liquidation account will be maintained for the benefits of eligible savings account holders who maintain deposit accounts in the Company after conversion. |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2016 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Community Savings Bancorp, Inc. (the “Registrant”), headquartered in Caldwell, Ohio, was formed to serve as the stock holding company for Community Savings (the “Company”) following its mutual-to-stock conversion. As of September 30, 2016, the stock conversion had not been completed, and as of that date, the Registrant had no assets or liabilities, and had not conducted any business other than that of an organizational nature. Accordingly, financial and other information of the Company is included in this quarterly report. The Registrant’s registration statement on Form S-1, as amended, was declared effective as of November 14, 2016. The completion of the conversion is subject to the satisfaction of certain conditions. The accompanying unaudited condensed balance sheet of the Company as of June 30, 2016, which has been derived from audited financial statements, and unaudited condensed financial statements of the Company as of September 30, 2016 and for the three months ended September 30, 2016 and 2015, were prepared in accordance with the instructions for Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America. Accordingly, these condensed financial statements should be read in conjunction with the audited financial statements and notes thereto of the Company as of and for the year ended June 30, 2016 included in the Registrant’s Form S-1. Reference is made to the accounting policies of the Company described in the Notes to the Financial Statements contained in the Form S-1. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) which are necessary for a fair presentation of the unaudited financial statements have been included to present fairly the financial position as of September 30, 2016 and the results of operations and cash flows for the three months ended September 30, 2016 and 2015. All interim amounts have not been audited and the results of operations for the three months ended September 30, 2016, herein are not necessarily indicative of the results of operations to be expected for the entire fiscal year. |
Use of Estimates | The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, and fair values of financial instruments. |
Recent Accounting Pronouncements | FASB ASU 2014-09, Revenue from Contracts with Customers FASB ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities. Recognition and Measurement of Financial Assets and Financial Liabilities For public business FASB ASU 2016-02, Leases. Leases ● A lease liability, which is a lessee‘s obligation to make lease payments arising from a lease, measured on a discounted basis; and ● A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing. Public business entities should apply the amendments in ASU 2016-02 for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years (i.e., January 1, 2019, for a calendar year entity). Early application is permitted for all public business entities upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. Management is currently evaluating the impact of adopting this guidance on the Company’s financial statements. FASB ASU 2016-13 Financial Instruments-Credit Losses. |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Sep. 30, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of amortized cost and approximate fair values, together with gross unrealized gains and losses | Amortized Gross Gross Fair (In thousands) Available-for-sale Securities: September 30, 2016 Mortgage-backed securities of U.S. government sponsored entities - residential $ 6,608 $ 96 $ (1 ) $ 6,703 Collateralized mortgage obligations of government sponsored entities - residential 418 14 - 432 State and political subdivisions Taxable 1,417 18 (6 ) 1,429 Nontaxable 2,027 21 - 2,048 $ 10,470 $ 149 $ (7 ) $ 10,612 June 30, 2016 U. S. Government agency bonds $ 1,500 $ - $ (3 ) $ 1,497 Mortgage-backed securities of U.S. government sponsored entities - residential 5,492 81 - 5,573 Collateralized mortgage obligations of government sponsored entities - residential 515 17 - 532 State and political subdivisions Taxable 1,425 20 (7 ) 1,438 Nontaxable 2,032 25 - 2,057 $ 10,964 $ 143 $ (10 ) $ 11,097 |
Summary of amortized cost and fair value of available-for-sale securities | September 30, 2016 Amortized Fair (In thousands) Within one year $ - $ - One to five years 1,148 1,166 Five to ten years 285 286 Beyond ten years 2,011 2,025 3,444 3,477 Mortgage-backed securities of U.S. government sponsored entities - residential 6,608 6,703 Collateralized mortgage obligations government sponsored entities - residential 418 432 Totals $ 10,470 $ 10,612 |
Summary of gross unrealized losses and fair value | Less than 12 Months 12 Months or Longer Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized (In thousands) September 30, 2016 Available-for-sale Securities: Mortgage-backed securities of U.S. sponsored entities - residential $ 650 $ (1 ) $ - $ - $ 650 $ (1 ) State and political subdivisions Taxable - - 263 (6 ) 263 (6 ) $ 650 $ (1 ) $ 263 $ (6 ) $ 913 $ (7 ) June 30, 2016 Available-for-sale Securities: U. S. Government agency bonds $ - $ - $ 997 $ (3 ) $ 997 $ (3 ) State and political subdivisions Taxable - - 263 (7 ) 263 (7 ) $ - $ - $ 1,260 $ (10 ) $ 1,260 $ (10 ) |
Loans and Allowance for Loan 17
Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Schedule of loan components | September 30, June 30, 2016 2016 (In thousands) Real estate One- to four-family residential $ 23,227 $ 23,065 Home equity lines of credit 3,252 3,312 Commercial and multi-family 1,463 1,641 Consumer and other 4,503 4,863 Total loans 32,445 32,881 Net deferred loan costs 1 1 Allowance for loan losses (253 ) (253 ) Net loans $ 32,193 $ 32,629 |
Schedule of allowance for loan losses recorded investment in loans and impairment method | September 30, 2016 Real Estate Commercial 1-4 Family Home Equity and Multi- Consumer Residential Lines of Credit Family and Other Unallocated Total (In thousands) Allowance for loan losses: Balance, July 1, 2016 $ 161 $ 22 $ 10 $ 24 $ 36 $ 253 Provision for loan losses - - (1 ) (1 ) 2 - Charge-offs - - - - - - Recoveries - - - - - - Balance, September 30, 2016 $ 161 $ 22 $ 9 $ 23 $ 38 $ 253 Allowance for loan losses: Ending balance, individually evaluated for impairment $ 9 $ - $ - $ - $ - $ 9 Ending balance, collectively evaluated for impairment $ 152 $ 22 $ 9 $ 23 $ 38 $ 244 Loans: Ending balance $ 23,227 $ 3,252 $ 1,463 $ 4,503 $ 32,445 Ending balance; individually evaluated for impairment $ 405 $ 13 $ - $ - $ 418 Ending balance; collectively evaluated for impairment $ 22,822 $ 3,239 $ 1,463 $ 4,503 $ 32,027 September 30, 2015 Real Estate Commercial 1-4 Family Home Equity and Multi- Consumer Residential Lines of Credit Family and Other Unallocated Total (In thousands) Allowance for loan losses: Balance, July 1, 2015 $ 154 $ 21 $ 3 $ 8 $ 102 $ 288 Provision for loan losses 19 (2 ) 3 1 (21 ) - Charge-offs (13 ) - - - - (13 ) Recoveries - - - - - - Balance, September 30, 2015 $ 160 $ 19 $ 6 $ 9 $ 81 $ 275 June 30, 2016 Real Estate Commercial 1-4 Family Home Equity and Multi- Consumer Residential Lines of Credit Family and Other Unallocated Total (In thousands) Allowance for loan losses: Ending balance, individually evaluated for impairment $ 10 $ - $ - $ - $ - $ 10 Ending balance, collectively evaluated for impairment $ 151 $ 22 $ 10 $ 24 $ 36 $ 243 Loans: Ending balance $ 23,065 $ 3,312 $ 1,641 $ 4,863 $ 32,881 Ending balance; individually evaluated for impairment $ 406 $ 14 $ - $ - $ 420 Ending balance; collectively evaluated for impairment $ 22,659 $ 3,298 $ 1,641 $ 4,863 $ 32,461 |
Schedule of credit risk profile based on internal rating category | September 30, 2016 Real Estate Commercial 1-4 Family Home Equity and Multi- Consumer Residential Lines of Credit Family and Other Total (In thousands) Pass $ 22,445 $ 3,179 $ 1,463 $ 4,503 $ 31,590 Special mention - - - - - Substandard 782 73 - - 855 Doubtful - - - - - Total $ 23,227 $ 3,252 $ 1,463 $ 4,503 $ 32,445 June 30, 2016 Real Estate Commercial 1-4 Family Home Equity and Multi- Consumer Residential Lines of Credit Family and Other Total (In thousands) Pass $ 22,258 $ 3,238 $ 1,641 $ 4,863 $ 32,000 Special mention - - - - - Substandard 807 74 - - 881 Doubtful - - - - - Total $ 23,065 $ 3,312 $ 1,641 $ 4,863 $ 32,881 |
Schedule of loan portfolio aging analysis of the recorded investment in loans | September 30, 2016 Total Loans > 30-59 Days 60-89 Days Greater Than Total Total Loans 90 Days & Past Due Past Due 90 Days Past Due Current Receivable Accruing (In thousands) Real estate 1-4 family residential $ 148 $ - $ 94 $ 242 $ 22,985 $ 23,227 $ - Home equity lines of credit 2 - 5 7 3,245 3,252 - Commercial and multi-family 15 - - 15 1,448 1,463 - Consumer and other - - - - 4,503 4,503 - Total $ 165 $ - $ 99 $ 264 $ 32,181 $ 32,445 $ - June 30, 2016 Total Loans > 30-59 Days 60-89 Days Greater Than Total Total Loans 90 Days & Past Due Past Due 90 Days Past Due Current Receivable Accruing (In thousands) Real estate 1-4 family residential $ 97 $ 97 $ 46 $ 240 $ 22,825 $ 23,065 $ - Home equity lines of credit - - - - 3,312 3,312 - Commercial and multi-family 15 - - 15 1,626 1,641 - Consumer and other - - - - 4,863 4,863 - Total $ 112 $ 97 $ 46 $ 255 $ 32,626 $ 32,881 $ - |
Schedule of impaired loan information | For the three months ended As of and for the three months ended September 30, 2016 September 30, 2015 Unpaid Allowance for Loan Average Interest Average Interest Recorded Principal Losses Recorded Income Recorded Income (In thousands) Loans with no related allowance recorded: Real estate 1-4 family residential $ 307 $ 307 $ - $ 307 $ 1 $ 225 $ 1 Home equity lines of credit 13 13 - 13 - 20 - Commercial and multi-family - - - - - - - Consumer and other - - - - - - - Loans with an allowance recorded: Real estate 1-4 family residential 98 100 9 98 - 108 - Home equity lines of credit - - - - - - - Commercial and multi-family - - - - - - - Consumer and other - - - - - - - Totals $ 418 $ 420 $ 9 $ 418 $ 1 $ 353 $ 1 As of June 30, 2016 Unpaid Allowance Recorded Principal Losses (In thousands) Loans with no related allowance recorded: Real estate 1-4 family residential $ 306 $ 306 $ - Home equity lines of credit 14 14 - Commercial and multi-family - - - Consumer and other - - - Loans with an allowance recorded: Real estate 1-4 family residential 100 102 10 Home equity lines of credit - - - Commercial and multi-family - - - Consumer and other - - - Totals $ 420 $ 422 $ 10 |
Schedule of nonaccrual loans | September 30, June 30, 2016 2016 (In thousands) Real estate 1-4 family residential $ 311 $ 310 Home equity lines of credit 13 14 Commercial and multi-family - - Consumer and other - - Total nonaccrual $ 324 $ 324 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 3 Months Ended |
Sep. 30, 2016 | |
Regulated Operations [Abstract] | |
Schedule of regulatory matters | Actual For Capital Adequacy To Be Well Capitalized Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of September 30, 2016 Total Capital (to Risk-Weighted Assets) $ 6,824 27.6 % $ 1,978 8.0 % $ 2,473 10.0 % Tier I Capital (to Risk-Weighted Assets) $ 6,571 26.6 % $ 1,484 6.0 % $ 1,978 8.0 % Common Equity Tier I Capital (to Risk-Weighted Assets) $ 6,571 26.6 % $ 1,113 4.5 % $ 1,607 6.5 % Leverage Capital (to Adjusted Average Total Assets) $ 6,571 12.3 % $ 2,142 4.0 % $ 2,677 5.0 % As of June 30, 2016 Total Capital (to Risk-Weighted Assets) $ 6,820 27.7 % $ 1,969 8.0 % $ 2,462 10.0 % Tier I Capital (to Risk-Weighted Assets) $ 6,567 26.7 % $ 1,477 6.0 % $ 1,969 8.0 % Common Equity Tier I Capital (to Risk-Weighted Assets) $ 6,567 26.7 % $ 1,108 4.5 % $ 1,600 6.5 % Leverage Capital (to Adjusted Average Total Assets) $ 6,567 11.9 % $ 2,205 4.0 % $ 2,756 5.0 % |
Disclosures about Fair Value 19
Disclosures about Fair Value of Assets and Liabilities (Tables) | 3 Months Ended |
Sep. 30, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of fair value on a recurring basis | Fair Value Measurement Using Fair Quoted Prices in Significant Other Significant (In thousands) September 30, 2016 Mortgage-backed securities of U.S. of government sponsored entities - residential $ 6,703 $ - $ 6,703 $ - Collateralized mortgage obligations of government sponsored entities - residential 432 - 432 - State and politacal subdivisions: Taxable 1,429 - 1,429 - Nontaxable 2,048 - 2,048 - $ 10,612 $ - $ 10,612 $ - June 30, 2016 U. S. Government agency bonds $ 1,497 $ - $ 1,497 $ - Mortgage-backed securities of U.S. of government sponsored entities - residential 5,573 - 5,573 - Collateralized mortgage obligations of government sponsored entities - residential 532 - 532 - State and politacal subdivisions: Taxable 1,438 - 1,438 - Nontaxable 2,057 - 2,057 - $ 11,097 $ - $ 11,097 $ - |
Schedule of fair value on a non-recurring | Fair Value Measurement Using Fair Quoted Prices in Significant Significant (In thousands) June 30, 2016 Impaired loans Real estate One-to four- family residential $ 90 $ - $ - $ 90 |
Schedule of quantitative information about unobservable inputs used in nonrecurring Level 3 | Fair Value Valuation Technique Unobservable Inputs Range (In thousands) June 30, 2016 Impaired loans (collateral dependent) - residential real estate $ 90 Sales comparison approach Adjustment for differences between the comparable real estate sales 10 % |
Schedule of fair value and the level within the fair value hierarchy in which the fair value measurement | Fair Value Measurement Using Carrying Quoted Prices in Significant Other Significant Total (In thousands) September 30, 2016 Financial assets Cash and cash equivalents $ 4,077 $ 4,077 $ - $ - $ 4,077 Interest-earning time deposits 4,570 4,570 - - 4,570 Other investment securities 940 - - 940 940 Loans,net 32,193 - - 34,036 34,036 Accrued interest receivable 174 - 174 - 174 Financial liabilities Deposits 40,280 32,464 7,811 - 40,275 Federal Home Loan Bank advances 6,200 - 6,258 - 6,258 Payments by borrowers for taxes and insurance 133 - 133 - 133 June 30, 2016 Financial assets Cash and cash equivalents $ 3,184 $ 3,184 $ - $ - $ 3,184 Interest-earning time deposits 5,567 5,567 - - 5,567 Other investment securities 940 - - 940 940 Loans,net 32,629 - - 34,368 34,368 Accrued interest receivable 185 - 185 - 185 Financial liabilities Deposits 40,102 32,185 7,932 - 40,117 Federal Home Loan Bank advances 7,250 - 7,316 - 7,316 Payments by borrowers for taxes and insurance 82 - 82 - 82 |
Accumulated Other Comprehensi20
Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Sep. 30, 2016 | |
Accumulated Other Comprehensive Loss [Abstract] | |
Schedule of changes in accumulated other comprehensive loss by component, net of tax | Three Months Ended September 30, 2016 2015 (In thousands) Beginning balance $ 88 $ (110 ) Other comprehensive income before reclassification 9 176 Tax effect (3 ) (60 ) Net current period other comprehensive income 6 116 Ending balance $ 94 $ 6 |
Securities - Summary of amortiz
Securities - Summary of amortized cost and fair values with gross unrealized gains and losses of securities (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 |
Available for sale: | ||
Amortized Cost | $ 10,470 | $ 10,964 |
Gross Unrealized Gains | 149 | 143 |
Gross Unrealized Losses | (7) | (10) |
Fair Value | 10,612 | 11,097 |
U. S. Government agency bonds | ||
Available for sale: | ||
Amortized Cost | 1,500 | |
Gross Unrealized Gains | ||
Gross Unrealized Losses | (3) | |
Fair Value | 1,497 | |
Mortgage-backed securities of U.S. government sponsored entities - residential | ||
Available for sale: | ||
Amortized Cost | 6,608 | 5,492 |
Gross Unrealized Gains | 96 | 81 |
Gross Unrealized Losses | (1) | |
Fair Value | 6,703 | 5,573 |
Collateralized mortgage obligations of government sponsored entities - residential | ||
Available for sale: | ||
Amortized Cost | 418 | 515 |
Gross Unrealized Gains | 14 | 17 |
Gross Unrealized Losses | ||
Fair Value | 432 | 532 |
State and political subdivisions Taxable | ||
Available for sale: | ||
Amortized Cost | 1,417 | 1,425 |
Gross Unrealized Gains | 18 | 20 |
Gross Unrealized Losses | (6) | (7) |
Fair Value | 1,429 | 1,438 |
State and political subdivisions Nontaxable | ||
Available for sale: | ||
Amortized Cost | 2,027 | 2,032 |
Gross Unrealized Gains | 21 | 25 |
Gross Unrealized Losses | ||
Fair Value | $ 2,048 | $ 2,057 |
Securities - Summary of amort22
Securities - Summary of amortized cost and fair value of available-for-sale securities (Details 1) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 |
Amortized Cost, Available for sale: | ||
Within one year | ||
One to five years | 1,148 | |
Five to ten years | 285 | |
Beyond ten years | 2,011 | |
Available for sale securities, Amortized Cost | 3,444 | |
Total Amortized Cost | 10,470 | $ 10,964 |
Fair Value, Available for sale: | ||
Within one year | ||
One to five years | 1,166 | |
Five to ten years | 286 | |
Beyond ten years | 2,025 | |
Available for sale securities, Fair Value | 3,477 | |
Total Fair Value | 10,612 | 11,097 |
Mortgage-backed securities of U.S. government sponsored entities - residential | ||
Amortized Cost, Available for sale: | ||
Total Amortized Cost | 6,608 | 5,492 |
Fair Value, Available for sale: | ||
Total Fair Value | 6,703 | 5,573 |
Collateralized mortgage obligations of government sponsored entities - residential | ||
Amortized Cost, Available for sale: | ||
Total Amortized Cost | 418 | 515 |
Fair Value, Available for sale: | ||
Total Fair Value | $ 432 | $ 532 |
Securities - Summary of investm
Securities - Summary of investments' gross unrealized losses and fair value (Details 2) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 |
Available for sale: | ||
Less than 12 Months Fair Value | $ 650 | |
Less than 12 Months Unrealized Losses | (1) | |
12 Months or Longer Fair Value | 263 | 1,260 |
12 Months or Longer Unrealized Losses | (6) | (10) |
Total Fair Value | 913 | 1,260 |
Total Unrealized Losses | (7) | (10) |
U. S. Government agency bonds | ||
Available for sale: | ||
Less than 12 Months Fair Value | ||
Less than 12 Months Unrealized Losses | ||
12 Months or Longer Fair Value | 997 | |
12 Months or Longer Unrealized Losses | (3) | |
Total Fair Value | 997 | |
Total Unrealized Losses | (3) | |
Mortgage-backed securities of U.S. government sponsored entities - residential | ||
Available for sale: | ||
Less than 12 Months Fair Value | 650 | |
Less than 12 Months Unrealized Losses | (1) | |
12 Months or Longer Fair Value | ||
12 Months or Longer Unrealized Losses | ||
Total Fair Value | 650 | |
Total Unrealized Losses | (1) | |
State and political subdivisions Taxable | ||
Available for sale: | ||
Less than 12 Months Fair Value | ||
Less than 12 Months Unrealized Losses | ||
12 Months or Longer Fair Value | 263 | 263 |
12 Months or Longer Unrealized Losses | (6) | (7) |
Total Fair Value | 263 | 263 |
Total Unrealized Losses | $ (6) | $ (7) |
Securities (Detail Textuals)
Securities (Detail Textuals) - USD ($) | Sep. 30, 2016 | Jun. 30, 2016 |
Investments, Debt and Equity Securities [Abstract] | ||
Carrying value of pledged securities | $ 3,300,000 | $ 3,300,000 |
Interest-earning demand deposits | 200,000 | 200,000 |
Interest-earning time deposits | 110,000 | 110,000 |
Investment securities of FHLB | 915,000 | 915,000 |
Investment in data service providers shares | $ 25,000 | $ 25,000 |
Loans and Allowance for Loan 25
Loans and Allowance for Loan Losses - Summary of loan receivables (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2015 |
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total loans | $ 32,445 | $ 32,881 | ||
Net deferred loan costs | 1 | 1 | ||
Allowance for loan losses | (253) | (253) | $ (275) | $ (288) |
Net loans | 32,193 | 32,629 | ||
Real estate | One- to four-family residential | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total loans | 23,227 | 23,065 | ||
Allowance for loan losses | (161) | (161) | (160) | (154) |
Real estate | Home equity lines of credit | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total loans | 3,252 | 3,312 | ||
Allowance for loan losses | (22) | (22) | (19) | (21) |
Real estate | Commercial and multi-family | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total loans | 1,463 | 1,641 | ||
Allowance for loan losses | (9) | (10) | (6) | (3) |
Consumer and other | ||||
Loans and Leases Receivable Disclosure [Line Items] | ||||
Total loans | 4,503 | 4,863 | ||
Allowance for loan losses | $ (23) | $ (24) | $ (9) | $ (8) |
Loans and Allowance for Loan 26
Loans and Allowance for Loan Losses - Summary of allowance for loan losses by portfolio segment with recorded investment in loans and impairment method (Details 1) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2016 | |
Allowance for loan losses: | |||
Balance, July 1, 2016 | $ 253 | $ 288 | |
Provision for loan losses | |||
Charge-offs | (13) | ||
Recoveries | |||
Balance, September 30, 2016 | 253 | 275 | |
Allowance for loan losses: | |||
Ending balance, individually evaluated for impairment | 9 | $ 10 | |
Ending balance, collectively evaluated for impairment | 244 | 243 | |
Loans: | |||
Ending balance | 32,445 | 32,881 | |
Ending balance; individually evaluated for impairment | 418 | 420 | |
Ending balance; collectively evaluated for impairment | 32,027 | 32,461 | |
Real Estate | 1-4 Family Residential | |||
Allowance for loan losses: | |||
Balance, July 1, 2016 | 161 | 154 | |
Provision for loan losses | 19 | ||
Charge-offs | (13) | ||
Recoveries | |||
Balance, September 30, 2016 | 161 | 160 | |
Allowance for loan losses: | |||
Ending balance, individually evaluated for impairment | 9 | 10 | |
Ending balance, collectively evaluated for impairment | 152 | 151 | |
Loans: | |||
Ending balance | 23,227 | 23,065 | |
Ending balance; individually evaluated for impairment | 405 | 406 | |
Ending balance; collectively evaluated for impairment | 22,822 | 22,659 | |
Real Estate | Home Equity Lines of Credit | |||
Allowance for loan losses: | |||
Balance, July 1, 2016 | 22 | 21 | |
Provision for loan losses | (2) | ||
Charge-offs | |||
Recoveries | |||
Balance, September 30, 2016 | 22 | 19 | |
Allowance for loan losses: | |||
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | 22 | 22 | |
Loans: | |||
Ending balance | 3,252 | 3,312 | |
Ending balance; individually evaluated for impairment | 13 | 14 | |
Ending balance; collectively evaluated for impairment | 3,239 | 3,298 | |
Real Estate | Commercial and Multi-Family | |||
Allowance for loan losses: | |||
Balance, July 1, 2016 | 10 | 3 | |
Provision for loan losses | (1) | 3 | |
Charge-offs | |||
Recoveries | |||
Balance, September 30, 2016 | 9 | 6 | |
Allowance for loan losses: | |||
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | 9 | 10 | |
Loans: | |||
Ending balance | 1,463 | 1,641 | |
Ending balance; individually evaluated for impairment | |||
Ending balance; collectively evaluated for impairment | 1,463 | 1,641 | |
Consumer and Other | |||
Allowance for loan losses: | |||
Balance, July 1, 2016 | 24 | 8 | |
Provision for loan losses | (1) | 1 | |
Charge-offs | |||
Recoveries | |||
Balance, September 30, 2016 | 23 | 9 | |
Allowance for loan losses: | |||
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | 23 | 24 | |
Loans: | |||
Ending balance | 4,503 | 4,863 | |
Ending balance; individually evaluated for impairment | |||
Ending balance; collectively evaluated for impairment | 4,503 | 4,863 | |
Unallocated | |||
Allowance for loan losses: | |||
Balance, July 1, 2016 | 36 | 102 | |
Provision for loan losses | 2 | (21) | |
Charge-offs | |||
Recoveries | |||
Balance, September 30, 2016 | 38 | $ 81 | |
Allowance for loan losses: | |||
Ending balance, individually evaluated for impairment | |||
Ending balance, collectively evaluated for impairment | $ 38 | $ 36 |
Loans and Allowance for Loan 27
Loans and Allowance for Loan Losses - Summary of credit risk profile of loan portfolio based on internal rating category and payment activity(Details 2) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 32,445 | $ 32,881 |
Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 31,590 | 32,000 |
Special mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | ||
Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 855 | 881 |
Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | ||
Real Estate | 1-4 Family Residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 23,227 | 23,065 |
Real Estate | 1-4 Family Residential | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 22,445 | 22,258 |
Real Estate | 1-4 Family Residential | Special mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | ||
Real Estate | 1-4 Family Residential | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 782 | 807 |
Real Estate | 1-4 Family Residential | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | ||
Real Estate | Home Equity Lines of Credit | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,252 | 3,312 |
Real Estate | Home Equity Lines of Credit | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,179 | 3,238 |
Real Estate | Home Equity Lines of Credit | Special mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | ||
Real Estate | Home Equity Lines of Credit | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 73 | 74 |
Real Estate | Home Equity Lines of Credit | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | ||
Real Estate | Commercial and Multi-Family | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,463 | 1,641 |
Real Estate | Commercial and Multi-Family | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,463 | 1,641 |
Real Estate | Commercial and Multi-Family | Special mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | ||
Real Estate | Commercial and Multi-Family | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | ||
Real Estate | Commercial and Multi-Family | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | ||
Consumer and Other | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 4,503 | 4,863 |
Consumer and Other | Pass | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 4,503 | 4,863 |
Consumer and Other | Special mention | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | ||
Consumer and Other | Substandard | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | ||
Consumer and Other | Doubtful | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total |
Loans and Allowance for Loan 28
Loans and Allowance for Loan Losses - Summary of loan portfolio aging analysis of recorded investment in loans (Details 3) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 264 | $ 255 |
Current | 32,181 | 32,626 |
Total Loans Receivable | 32,445 | 32,881 |
Total Loans > 90 Days & Accruing | ||
30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 165 | 112 |
60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 97 | |
Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 99 | 46 |
Real estate | 1-4 Family Residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 242 | 240 |
Current | 22,985 | 22,825 |
Total Loans Receivable | 23,227 | 23,065 |
Total Loans > 90 Days & Accruing | ||
Real estate | 1-4 Family Residential | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 148 | 97 |
Real estate | 1-4 Family Residential | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 97 | |
Real estate | 1-4 Family Residential | Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 94 | 46 |
Real estate | Home equity lines of credit | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7 | |
Current | 3,245 | 3,312 |
Total Loans Receivable | 3,252 | 3,312 |
Total Loans > 90 Days & Accruing | ||
Real estate | Home equity lines of credit | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2 | |
Real estate | Home equity lines of credit | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | ||
Real estate | Home equity lines of credit | Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5 | |
Real estate | Commercial and multi-family | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 15 | 15 |
Current | 1,448 | 1,626 |
Total Loans Receivable | 1,463 | 1,641 |
Total Loans > 90 Days & Accruing | ||
Real estate | Commercial and multi-family | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 15 | 15 |
Real estate | Commercial and multi-family | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | ||
Real estate | Commercial and multi-family | Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | ||
Consumer and other | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | ||
Current | 4,503 | 4,863 |
Total Loans Receivable | 4,503 | 4,863 |
Total Loans > 90 Days & Accruing | ||
Consumer and other | 30-59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | ||
Consumer and other | 60-89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | ||
Consumer and other | Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due |
Loans and Allowance for Loan 29
Loans and Allowance for Loan Losses - Summary of impaired loan information (Details 4) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2016 | |
Loans with an allowance recorded: | |||
Allowance for Loan Losses Allocated | $ 9 | $ 10 | |
Total impaired loans | |||
Recorded Investment | 418 | 420 | |
Unpaid Principal Balance | 420 | 422 | |
Allowance for Loan Losses Allocated | 9 | 10 | |
Average Recorded Investment | 418 | $ 353 | |
Interest Income Recognized | 1 | 1 | |
Real estate | One- to four-family residential | |||
Loans with no related allowance recorded: | |||
Recorded Investment | 307 | 306 | |
Unpaid Principal Balance | 307 | 306 | |
Average Recorded Investment | 307 | 225 | |
Interest Income Recognized | 1 | 1 | |
Loans with an allowance recorded: | |||
Recorded Investment | 98 | 100 | |
Unpaid Principal Balance | 100 | 102 | |
Allowance for Loan Losses Allocated | 9 | 10 | |
Average Recorded Investment | 98 | 108 | |
Interest Income Recognized | |||
Total impaired loans | |||
Allowance for Loan Losses Allocated | 9 | 10 | |
Real estate | Home Equity Lines of Credit | |||
Loans with no related allowance recorded: | |||
Recorded Investment | 13 | 14 | |
Unpaid Principal Balance | 13 | 14 | |
Average Recorded Investment | 13 | 20 | |
Interest Income Recognized | |||
Loans with an allowance recorded: | |||
Recorded Investment | |||
Unpaid Principal Balance | |||
Allowance for Loan Losses Allocated | |||
Average Recorded Investment | |||
Interest Income Recognized | |||
Total impaired loans | |||
Allowance for Loan Losses Allocated | |||
Real estate | Commercial and multi-family | |||
Loans with no related allowance recorded: | |||
Recorded Investment | |||
Unpaid Principal Balance | |||
Average Recorded Investment | |||
Interest Income Recognized | |||
Loans with an allowance recorded: | |||
Recorded Investment | |||
Unpaid Principal Balance | |||
Allowance for Loan Losses Allocated | |||
Average Recorded Investment | |||
Interest Income Recognized | |||
Total impaired loans | |||
Allowance for Loan Losses Allocated | |||
Consumer and other | |||
Loans with no related allowance recorded: | |||
Recorded Investment | |||
Unpaid Principal Balance | |||
Average Recorded Investment | |||
Interest Income Recognized | |||
Loans with an allowance recorded: | |||
Recorded Investment | |||
Unpaid Principal Balance | |||
Allowance for Loan Losses Allocated | |||
Average Recorded Investment | |||
Interest Income Recognized | |||
Total impaired loans | |||
Allowance for Loan Losses Allocated |
Loans and Allowance for Loan 30
Loans and Allowance for Loan Losses - Summary of nonaccrual loans excludes performing troubled debt restructurings (Details 5) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 |
Financing Receivable, Modifications [Line Items] | ||
Total nonaccrual | $ 324 | $ 324 |
Real estate | One- to four-family residential | ||
Financing Receivable, Modifications [Line Items] | ||
Total nonaccrual | 311 | 310 |
Real estate | Home Equity Lines of Credit | ||
Financing Receivable, Modifications [Line Items] | ||
Total nonaccrual | 13 | 14 |
Real estate | Commercial and multi-family | ||
Financing Receivable, Modifications [Line Items] | ||
Total nonaccrual | ||
Consumer and other | ||
Financing Receivable, Modifications [Line Items] | ||
Total nonaccrual |
Loans and Allowance for Loan 31
Loans and Allowance for Loan Losses (Detail Textuals) - USD ($) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Jun. 30, 2016 | |
Receivables [Abstract] | ||
Loans modified under troubled debt restructuring in previous years | $ 92,000 | $ 92,000 |
Troubled debt restructured loans, specific allowances | $ 7,000 | $ 7,000 |
Troubled debt restructuring, consideration | A troubled debt restructured loan is considered to be in payment default once it is 30 days contractually past due under the loan's modified terms. |
Regulatory Matters - Summary of
Regulatory Matters - Summary of actual capital amounts and ratios (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 |
Regulated Operations [Abstract] | ||
Total Capital (to Risk-Weighted Assets) Actual, Amount | $ 6,824 | $ 6,820 |
Total Capital (to Risk-Weighted Assets) Actual, Ratio | 27.60% | 27.70% |
Total Capital (to Risk-Weighted Assets) For Capital Adequacy Purposes, Amount | $ 1,978 | $ 1,969 |
Total Capital (to Risk-Weighted Assets) For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Total Capital (to Risk-Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 2,473 | $ 2,462 |
Total Capital (to Risk-Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 10.00% | 10.00% |
Tier I Capital (to Risk-Weighted Assets) Actual, Amount | $ 6,571 | $ 6,567 |
Tier I Capital (to Risk-Weighted Assets) Actual, Ratio | 26.60% | 26.70% |
Tier I Capital (to Risk-Weighted Assets) For Capital Adequacy Purposes, Amount | $ 1,484 | $ 1,477 |
Tier I Capital (to Risk-Weighted Assets) For Capital Adequacy Purposes, Ratio | 6.00% | 6.00% |
Tier I Capital (to Risk-Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 1,978 | $ 1,969 |
Tier I Capital (to Risk-Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 8.00% | 8.00% |
Common Equity Tier I Capital (to Risk-Weighted Assets) Actual, Amount | $ 6,571 | $ 6,567 |
Common Equity Tier I Capital (to Risk-Weighted Assets) Actual, Ratio | 26.60% | 26.70% |
Common Equity Tier I Capital (to Risk-Weighted Assets) For Capital Adequacy Purposes, Amount | $ 1,113 | $ 1,108 |
Common Equity Tier I Capital (to Risk-Weighted Assets) For Capital Adequacy Purposes, Ratio | 4.50% | 4.50% |
Common Equity Tier I Capital (to Risk-Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 1,607 | $ 1,600 |
Common Equity Tier I Capital (to Risk-Weighted Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 6.50% | 6.50% |
Leverage Capital (to Adjusted Average Total Assets) Actual, Amount | $ 6,571 | $ 6,567 |
Leverage Capital (to Adjusted Average Total Assets) Actual, Ratio | 12.30% | 11.90% |
Leverage Capital (to Adjusted Average Total Assets) For Capital Adequacy Purposes, Amount | $ 2,142 | $ 2,205 |
Leverage Capital (to Adjusted Average Total Assets) For Capital Adequacy Purposes, Ratio | 4.00% | 4.00% |
Leverage Capital (to Adjusted Average Total Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $ 2,677 | $ 2,756 |
Leverage Capital (to Adjusted Average Total Assets) To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 5.00% | 5.00% |
Regulatory Matters (Details Tex
Regulatory Matters (Details Textuals) | 3 Months Ended |
Sep. 30, 2016 | |
Minimum | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Common Equity Tier 1 Capital conservation buffer of risk weighted assets | 0.00% |
Maximum | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Common Equity Tier 1 Capital conservation buffer of risk weighted assets | 2.50% |
Disclosures about Fair Value 34
Disclosures about Fair Value of Assets and Liabilities - Summary of fair value measurement of assets recognized (Details) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $ 10,612 | $ 11,097 |
U. S. Government agency bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 1,497 | |
Mortgage-backed securities of U.S. government sponsored entities - residential | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 6,703 | 5,573 |
Collateralized mortgage obligations of government sponsored entities - residential | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 432 | 532 |
State and political subdivisions Taxable | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 1,429 | 1,438 |
State and political subdivisions Nontaxable | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 2,048 | 2,057 |
Fair Value Measurements Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value Measurements Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | U. S. Government agency bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value Measurements Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed securities of U.S. government sponsored entities - residential | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value Measurements Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateralized mortgage obligations of government sponsored entities - residential | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value Measurements Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | State and political subdivisions Taxable | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value Measurements Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | State and political subdivisions Nontaxable | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 10,612 | 11,097 |
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | U. S. Government agency bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 1,497 | |
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | Mortgage-backed securities of U.S. government sponsored entities - residential | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 6,703 | 5,573 |
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | Collateralized mortgage obligations of government sponsored entities - residential | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 432 | 532 |
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | State and political subdivisions Taxable | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 1,429 | 1,438 |
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | State and political subdivisions Nontaxable | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 2,048 | 2,057 |
Fair Value Measurements Recurring | Significant Unobservable Inputs (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value Measurements Recurring | Significant Unobservable Inputs (Level 3) | U. S. Government agency bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value Measurements Recurring | Significant Unobservable Inputs (Level 3) | Mortgage-backed securities of U.S. government sponsored entities - residential | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value Measurements Recurring | Significant Unobservable Inputs (Level 3) | Collateralized mortgage obligations of government sponsored entities - residential | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value Measurements Recurring | Significant Unobservable Inputs (Level 3) | State and political subdivisions Taxable | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value Measurements Recurring | Significant Unobservable Inputs (Level 3) | State and political subdivisions Nontaxable | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value Measurements Recurring | Fair Value | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 10,612 | 11,097 |
Fair Value Measurements Recurring | Fair Value | U. S. Government agency bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 1,497 | |
Fair Value Measurements Recurring | Fair Value | Mortgage-backed securities of U.S. government sponsored entities - residential | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 6,703 | 5,573 |
Fair Value Measurements Recurring | Fair Value | Collateralized mortgage obligations of government sponsored entities - residential | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 432 | 532 |
Fair Value Measurements Recurring | Fair Value | State and political subdivisions Taxable | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 1,429 | 1,438 |
Fair Value Measurements Recurring | Fair Value | State and political subdivisions Nontaxable | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $ 2,048 | $ 2,057 |
Disclosures about Fair Value 35
Disclosures about Fair Value of Assets and Liabilities - Summary of fair value measurements of assets measured at fair value on a non-recurring basis (Details 1) - Fair Value, Measurements, Nonrecurring - Real estate - One- to four-family residential $ in Thousands | Jun. 30, 2016USD ($) |
Fair Value | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Impaired loans | $ 90 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Impaired loans | |
Significant Other Observable Inputs (Level 2) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Impaired loans | |
Significant Unobservable Inputs (Level 3) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Impaired loans | $ 90 |
Disclosures about Fair Value 36
Disclosures about Fair Value of Assets and Liabilities - Summary of unobservable inputs used in nonrecurring Level 3 fair value measurements (Details 2) - Fair Value, Measurements, Nonrecurring - Level 3 - Residential real estate $ in Thousands | 12 Months Ended |
Jun. 30, 2016USD ($) | |
Weighted Average | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |
Range (Weighted Average) | 10.00% |
Sales comparison approach | Fair Value | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |
Impaired loans (collateral dependent) | $ 90 |
Valuation Technique | Sales comparison approach |
Unobservable Inputs | Adjustment for differences between the comparable real estate sales |
Disclosures about Fair Value 37
Disclosures about Fair Value of Assets and Liabilities - Summary of Summary of carrying amount and estimated fair values of financial instruments (Details 3) - USD ($) $ in Thousands | Sep. 30, 2016 | Jun. 30, 2016 | Sep. 30, 2015 | Jun. 30, 2015 |
Financial assets | ||||
Cash and cash equivalents | $ 4,077 | $ 3,184 | $ 2,783 | $ 10,148 |
Interest-earning time deposits | 4,570 | 5,567 | ||
Other investment securities | 940 | 940 | ||
Loans, net | 32,193 | 32,629 | ||
Accrued interest receivable | 174 | 185 | ||
Financial liabilities | ||||
Deposits | 40,280 | 40,102 | ||
Federal Home Loan Bank advances | 6,200 | 7,250 | ||
Payments by borrowers for taxes and insurance | 133 | 82 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||||
Financial assets | ||||
Cash and cash equivalents | 4,077 | 3,184 | ||
Interest-earning time deposits | 4,570 | 5,567 | ||
Other investment securities | ||||
Loans, net | ||||
Accrued interest receivable | ||||
Financial liabilities | ||||
Deposits | 32,464 | 32,185 | ||
Federal Home Loan Bank advances | ||||
Payments by borrowers for taxes and insurance | ||||
Significant Other Observable Inputs (Level 2) | ||||
Financial assets | ||||
Cash and cash equivalents | ||||
Interest-earning time deposits | ||||
Other investment securities | ||||
Loans, net | ||||
Accrued interest receivable | 174 | 185 | ||
Financial liabilities | ||||
Deposits | 7,811 | 7,932 | ||
Federal Home Loan Bank advances | 6,258 | 7,316 | ||
Payments by borrowers for taxes and insurance | 133 | 82 | ||
Significant Unobservable Inputs (Level 3) | ||||
Financial assets | ||||
Cash and cash equivalents | ||||
Interest-earning time deposits | ||||
Other investment securities | 940 | 940 | ||
Loans, net | 34,036 | 34,368 | ||
Accrued interest receivable | ||||
Financial liabilities | ||||
Deposits | ||||
Federal Home Loan Bank advances | ||||
Payments by borrowers for taxes and insurance | ||||
Fair Value | ||||
Financial assets | ||||
Cash and cash equivalents | 4,077 | 3,184 | ||
Interest-earning time deposits | 4,570 | 5,567 | ||
Other investment securities | 940 | 940 | ||
Loans, net | 34,036 | 34,368 | ||
Accrued interest receivable | 174 | 185 | ||
Financial liabilities | ||||
Deposits | 40,275 | 40,117 | ||
Federal Home Loan Bank advances | 6,258 | 7,316 | ||
Payments by borrowers for taxes and insurance | $ 133 | $ 82 |
Accumulated Other Comprehensi38
Accumulated Other Comprehensive Loss - Summary of changes in accumulated other comprehensive loss (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Accumulated Other Comprehensive Loss [Roll Forward] | ||
Beginning balance | $ 88 | $ (110) |
Other comprehensive income before reclassification | 9 | 176 |
Tax effect | (3) | (60) |
Net current period other comprehensive income | 6 | 116 |
Ending balance | $ 94 | $ 6 |
Plan of Conversion (Details Tex
Plan of Conversion (Details Textuals) | Sep. 30, 2016USD ($)$ / shares |
Plan Of Conversion And Change In Corporate Form [Abstract] | |
Stock price | $ / shares | $ 10 |
Deferred conversion costs | $ | $ 368,000 |