PREMISES AND EQUIPMENT

12 Months Ended

Jun. 30, 2012

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 4—PREMISES AND EQUIPMENT

Major classifications of premises and equipment were as follows as of June 30:

		2012				2011
Land		$	1,379			$	1,174
Land improvements			385				368
Building and leasehold improvements			4,957				4,174
Furniture, fixture and equipment			4,594				4,278
Total premises and equipment			11,315				9,994
Accumulated depreciation and amortization			(5,563	)			(5,218	)
Premises and equipment, net		$	5,752			$	4,776

Depreciation expense was $369 and $382 for the years ended June 30, 2012 and 2011, respectively.

The Corporation is obligated under non-cancelable operating leases for facilities and equipment. The approximate minimum annual rentals and commitments under these non-cancelable agreements and leases with remaining terms in excess of one year are as follows:

2013		$	103
2014			90
2015			77
2016			18
2017			—
Thereafter			—
		$	288

Rent expense incurred was $110 and $111 during the years ended June 30, 2012 and 2011, respectively.

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details