v2.4.0.6
INCOME TAXES (Tables)
12 Months Ended
Jun. 30, 2012
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes consists of the following for the years ended June 30:

 

   

2012

 
   

2011

 
 
Current income taxes   $ 1,070     $ 540  
Deferred income taxes (benefits)     (271 )     81  
    $ 799     $ 621
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The net deferred income tax asset consists of the following components at June 30:

 

   

2012

 
   

2011

 
 
Deferred tax assets:                
Allowance for loan losses   $ 627     $ 520  
Deferred compensation     532       413  
Recognized loss on impairment of security     265       265  
Intangibles     109       122  
OREO deferred gain     16       18  
Nonaccrual loan interest income     74       47  
Gross deferred tax asset     1,623       1,385  
                 
Deferred tax liabilities:                
Depreciation     (261 )     (270 )
Loan fees     (211 )     (202 )
Prepaid expenses     (80 )     (113 )
FHLB stock dividends     (165 )     (165 )
Net unrealized securities gain     (826 )     (509 )
Gross deferred tax liabilities     (1,543 )     (1,259 )
Net deferred asset   $ 80     $ 126  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The difference between the provision for income taxes and amounts computed by applying the statutory income tax rate of 34% to statutory income before taxes consists of the following for the years ended June 30:

 

   

2012

 
   

2011

 
 
Income taxes computed at the statutory rate on pretax income   $ 1,211     $ 975  
Tax exempt income     (359 )     (304 )
Cash surrender value income     (66 )     (62 )
Other     13       12  
    $ 799     $ 621