12 Months Ended
Jun. 30, 2012
Banking and Thrift [Abstract]  
Federal Home Loan Bank Advances, Disclosure [Text Block]



A summary of Federal Home Loan Bank (FHLB) advances were as follows:


Advance Type



    Interest Rate     Balance
June 30, 2012
June 30, 2011
Interest-only, single maturity     01/24/2012       Fixed       3.37 %   $     $ 500  
Interest-only, single maturity     07/24/2012       Fixed       3.50             500  
Principal and interest, mortgage matched     04/01/2014       Fixed       2.54       44       84  
Interest-only, single maturity     10/09/2015       Fixed       1.43       500       500  
Interest-only, single maturity     10/12/2017       Fixed       2.07       500       500  
Interest-only, putable     12/07/2017       Fixed       3.24       5,000       5,000  
Principal and interest, mortgage matched     04/01/2019       Fixed       4.30       402       451  
                            $ 6,446     $ 7,535  


Each fixed rate advance has a prepayment penalty equal to the present value of 100% of the lost cash flow based upon the difference between the contract rate on the advance and the current rate on the new advance. The $5 million putable advance with the maturity date of December 7, 2017 can be called quarterly until maturity at the option of the FHLB, with the next call option being September 7, 2012. The following table is a summary of the scheduled principal payments for all advances:


Twelve Months Ending June 30



2013   $ 86  
2014     69  
2015     56  
2016     559  
2017     62  
Thereafter     5,614  
    $ 6,446  


During fiscal year 2011, the Corporation prepaid two $500 fixed rate single maturity advances and replaced them with two $500 fixed rate single maturity advances with lower rates. Because the present value of the cash flows of the new debt including the prepayment penalty was not more than 10% different than the old debt, the transaction was considered to be an exchange rather than an extinguishment of debt. As such, prepayment penalties totaling $16 were capitalized and are being amortized over the life of the new debt. Unamortized capitalized prepayment penalties totaled $11 and $13 at June 30, 2012 and 2011, respectively.


Pursuant to collateral agreements with the FHLB, advances are secured by all the stock invested in the FHLB and certain qualifying first mortgage loans. The advances were collateralized by $36,907 and $39,180 of first mortgage loans under a blanket lien arrangement at June 30, 2012 and 2011, respectively. Based on this collateral and the Corporation’s holdings of FHLB stock, the Bank was eligible to borrow up to a total of $18,208 in advances at June 30, 2012.