v2.4.0.6
DOCUMENT AND ENTITY INFORMATION
9 Months Ended
Mar. 31, 2013
May 14, 2013
Entity Registrant Name CONSUMERS BANCORP INC /OH/  
Entity Central Index Key 0001006830  
Current Fiscal Year End Date --06-30  
Entity Filer Category Smaller Reporting Company  
Trading Symbol cbkm  
Entity Common Stock, Shares Outstanding   2,066,399
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Mar. 31, 2013  
Document Fiscal Period Focus Q3  
Document Fiscal Year Focus 2013  
v2.4.0.6
CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2013
Jun. 30, 2012
ASSETS    
Cash on hand and noninterest-bearing deposits in financial institutions $ 7,530 $ 6,663
Federal funds sold and interest-bearing deposits in financial institutions 9,391 7,082
Total cash and cash equivalents 16,921 13,745
Certificates of deposit in other financial institutions 5,645 5,645
Securities, available-for-sale 101,630 105,335
Federal bank and other restricted stocks, at cost 1,186 1,186
Loans held for sale 192 377
Total loans 212,614 197,430
Less allowance for loan losses (2,377) (2,335)
Net loans 210,237 195,095
Cash surrender value of life insurance 5,744 5,605
Premises and equipment, net 5,738 5,752
Accrued interest receivable and other assets 2,114 2,021
Total assets 349,407 334,761
LIABILITIES    
Non-interest bearing demand 72,014 65,915
Interest bearing demand 38,587 35,055
Savings 108,214 99,041
Time 80,459 84,470
Total deposits 299,274 284,481
Short-term borrowings 12,483 13,722
Federal Home Loan Bank advances 6,389 6,446
Accrued interest and other liabilities 2,067 2,222
Total liabilities 320,213 306,871
Commitments and contingent liabilities 0 0
SHAREHOLDERS' EQUITY    
Preferred stock (no par value, 350,000 shares authorized, none outstanding) 0 0
Common stock (no par value, 3,500,000 shares authorized; 2,196,144 and 2,186,791 shares issued as of March 31, 2013 and June 30, 2012, respectively) 5,354 5,205
Retained earnings 23,986 22,740
Treasury stock, at cost (129,745 and 130,442 common shares as of March 31, 2013, 2012 and June 30, 2012, respectively) (1,650) (1,659)
Accumulated other comprehensive income 1,504 1,604
Total shareholders' equity 29,194 27,890
Total liabilities and shareholders' equity $ 349,407 $ 334,761
v2.4.0.6
CONSOLIDATED BALANCE SHEETS [Parenthetical]
Mar. 31, 2013
Jun. 30, 2012
Preferred stock, shares authorized 350,000 350,000
Preferred stock, shares outstanding 0 0
Common stock, shares authorized 3,500,000 3,500,000
Common stock, shares issued 2,196,144 2,186,791
Treasury stock, shares 129,745 130,442
v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Mar. 31, 2012
Interest income        
Loans, including fees $ 2,587 $ 2,540 $ 7,897 $ 7,637
Securities, taxable 293 445 1,010 1,400
Securities, tax-exempt 318 267 937 761
Federal funds sold and other interest bearing deposits 15 12 46 42
Total interest income 3,213 3,264 9,890 9,840
Interest expense        
Deposits 236 289 768 924
Short-term borrowings 5 5 16 23
Federal Home Loan Bank advances 49 51 149 180
Total interest expense 290 345 933 1,127
Net interest income 2,923 2,919 8,957 8,713
Provision for loan losses 90 11 171 170
Net interest income after provision for loan losses 2,833 2,908 8,786 8,543
Non-interest income        
Service charges on deposit accounts 301 338 979 1,061
Debit card interchange income 190 187 589 545
Bank owned life insurance income 43 48 139 148
Securities gains (losses), net 101 (37) 124 118
Loss on sale of other real estate owned 0 0 0 (53)
Other 98 49 244 135
Total non-interest income 733 585 2,075 1,954
Non-interest expenses        
Salaries and employee benefits 1,548 1,421 4,591 4,060
Occupancy and equipment 321 268 965 784
Data processing expenses 138 143 360 422
Professional and director fees 83 80 258 271
FDIC assessments 51 48 150 147
Franchise taxes 68 69 207 198
Marketing and advertising 66 81 228 210
Telephone and network communications 75 60 220 176
Debit card processing expenses 90 97 291 284
Amortization of intangible 0 8 0 89
Other 359 336 1,124 1,032
Total non-interest expenses 2,799 2,611 8,394 7,673
Income before income taxes 767 882 2,467 2,824
Income tax expense 139 196 477 660
Net Income $ 628 $ 686 $ 1,990 $ 2,164
Basic and diluted earnings per share (in dollars per share) $ 0.30 $ 0.33 $ 0.96 $ 1.06
v2.4.0.6
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Mar. 31, 2012
Net income $ 628 $ 686 $ 1,990 $ 2,164
Other comprehensive income (loss), net of tax:        
Unrealized gains (losses) arising during the period (401) 199 (26) 1,062
Reclassification adjustment for (gains) losses included in income (101) 37 (124) (118)
Net unrealized gain (losses) (502) 236 (150) 944
Income tax effect (171) 80 (50) 321
Other comprehensive income (loss) (331) 156 (100) 623
Total comprehensive income $ 297 $ 842 $ 1,890 $ 2,787
v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Mar. 31, 2012
Balance at beginning of period $ 29,096 $ 26,817 $ 27,890 $ 25,324
Net income 628 686 1,990 2,164
Other comprehensive income (loss) (331) 156 (100) 623
Issuance of 697 shares for vested restricted stock awards 0 0 9 0
Common stock issued for dividend reinvestment and stock purchase plan (2,861 shares and 9,353 tshares for the three and nine months in 2013, respectively and 3,178 shares in the three and nine months in 2012) 50 42 149 42
Common cash dividends (249) (225) (744) (677)
Balance at the end of the period $ 29,194 $ 27,476 $ 29,194 $ 27,476
Common cash dividends per share $ 0.12 $ 0.11 $ 0.36 $ 0.33
v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY [Parenthetical]
3 Months Ended 9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Mar. 31, 2012
Issuance of shares for vested restricted stock awards     697  
Common shares issued for dividend reinvestment and stock purchase plan (in shares) 2,861 3,178 9,353 3,178
v2.4.0.6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities    
Net cash from operating activities $ 3,390 $ 3,735
Cash flow from investing activities    
Purchases (18,735) (45,105)
Maturities, calls and principal pay downs 16,882 15,801
Proceeds from sales of available-for-sale securities 4,459 11,485
Net decrease in certificates of deposits in other financial institutions 0 1,470
Net increase in loans (15,313) (6,581)
Acquisition of premises and equipment (409) (1,099)
Sale of other real estate owned 0 23
Net cash from investing activities (13,116) (24,006)
Cash flow from financing activities    
Net increase in deposit accounts 14,793 31,058
Net change in short-term borrowings (1,239) (2,545)
Repayments of Federal Home Loan Bank advances (57) (1,058)
Proceeds from dividend reinvestment and stock purchase plan 149 42
Dividends paid (744) (677)
Net cash from financing activities 12,902 26,820
Increase in cash or cash equivalents 3,176 6,549
Cash and cash equivalents, beginning of period 13,745 13,828
Cash and cash equivalents, end of period 16,921 20,377
Supplemental disclosure of cash flow information:    
Interest 932 1,142
Federal income taxes 680 475
Non-cash items:    
Issuance of treasury stock for vested restricted stock awards $ 9 $ 0
v2.4.0.6
Summary of Significant Accounting Policies
9 Months Ended
Mar. 31, 2013
Organization, Consolidation and Presentation Of Financial Statements [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]

Note 1 – Summary of Significant Accounting Policies:

 

Nature of Operations: Consumers Bancorp, Inc. (the Corporation) is a bank holding company headquartered in Minerva, Ohio that provides, through its banking subsidiary, Consumers National Bank (the Bank), a broad array of products and services throughout its primary market area of Stark, Columbiana, Carroll and contiguous counties in Ohio. The Bank’s business involves attracting deposits from businesses and individual customers and using such deposits to originate commercial, mortgage and consumer loans in its primary market area.

 

Basis of Presentation: The consolidated financial statements for interim periods are unaudited and reflect all adjustments (consisting of only normal recurring adjustments), which, in the opinion of management, are necessary to present fairly the financial position and results of operations and cash flows for the periods presented. The unaudited financial statements are presented in accordance with the requirements of Form 10-Q and do not include all disclosures normally required by accounting principles generally accepted in the United States of America. The financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Corporation’s Form 10-K for the year ended June 30, 2012. The results of operations for the interim period disclosed herein are not necessarily indicative of the results that may be expected for a full year.

 

The consolidated financial statements include the accounts of the Corporation and the Bank. All significant inter-company transactions and accounts have been eliminated in consolidation.

 

Segment Information: Consumers Bancorp, Inc. is a bank holding company engaged in the business of commercial and retail banking, which accounts for substantially all of the revenues, operating income, and assets. Accordingly, all of its operations are recorded in one segment, banking.

 

Reclassifications: Certain items in prior financial statements have been reclassified to conform to the current presentation.

 

New Accounting Standards: In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2013-02, Comprehensive Income: Reporting of Amounts Classified out of Accumulated Other Comprehensive Income, with the primary objective of improving the reporting of reclassifications out of accumulated other comprehensive income. This ASU requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. The amendments are effective prospectively for fiscal years, and interim periods within those year, beginning after December 15, 2012. The Corporation early adopted the ASU as of March 31, 2013. The amendments did not have a material impact on Corporation’s Consolidated Financial Statements. See Note 6 for the additional disclosure.

v2.4.0.6
Securities
9 Months Ended
Mar. 31, 2013
Investments, Debt and Equity Securities [Abstract]  
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Note 2 – Securities

 

Description of Securities   Amortized
Cost
    Gross
Unrealized
Gains
    Gross
Unrealized
Losses
    Fair
Value
 
March 31, 2013                                
Obligations of U.S. government-sponsored entities and agencies   $ 4,814     $ 43     $     $ 4,857  
Obligations of state and political subdivisions     38,587       1,497       (124 )     39,960  
Mortgage-backed securities – residential     49,133       1,022       (89 )     50,066  
Collateralized mortgage obligations     6,615       20       (26 )     6,609  
Trust preferred security     202             (64 )     138  
Total securities   $ 99,351     $ 2,582     $ (303 )   $ 101,630  

 

    Amortized
Cost
    Gross
Unrealized
Gains
    Gross
Unrealized
Losses
    Fair
Value
 
June 30, 2012                                
Obligations of U.S. government-sponsored entities and agencies   $ 8,487     $ 80     $     $ 8,567  
Obligations of state and political subdivisions     33,808       1,577       (109 )     35,276  
Mortgage-backed securities - residential     48,255       1,108       (32 )     49,331  
Collateralized mortgage obligations     12,154       25       (82 )     12,097  
Trust preferred security     202             (138 )     64  
Total securities   $ 102,906     $ 2,790     $ (361 )   $ 105,335  

 

Proceeds from the sale of available-for-sale securities were as follows:

 

    Three Months Ended
March 31,
    Nine Months Ended
March 31,
 
    2013     2012     2013     2012  
Proceeds from sales   $ 3,780     $ 4,153     $ 4,459     $ 11,485  
Gross realized gains     125       16       148       171  
Gross realized losses     24       53       24       53  

 

The amortized cost and fair values of available-for-sale securities at March 31, 2013, by expected maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, collateralized mortgage obligations and the trust preferred security are shown separately.

 

    Amortized
Cost
    Estimated Fair
Value
 
Due in one year or less   $ 4,547     $ 4,583  
Due after one year through five years     3,449       3,592  
Due after five years through ten years     12,042       12,615  
Due after ten years     23,363       24,027  
Total     43,401       44,817  
                 
Mortgage-backed securities – residential     49,133       50,066  
Collateralized mortgage obligations     6,615       6,609  
Trust preferred security     202       138  
Total   $ 99,351     $ 101,630  

 

The following table summarizes the securities with unrealized losses at March 31, 2013 and June 30, 2012, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

 

    Less than 12 Months     12 Months or more     Total  
Description of Securities   Fair
Value
    Unrealized
Loss
    Fair
Value
    Unrealized
Loss
    Fair
Value
    Unrealized
Loss
 
March 31, 2013                                                
Obligations of states and political subdivisions   $ 6,566     $ (124 )   $     $     $ 6,566     $ (124 )
Mortgage-backed securities - residential     10,792       (89 )                 10,792       (89 )
Collateralized mortgage obligations     4,839       (26 )                 4,839       (26 )
Trust preferred security                 138       (64 )     138       (64 )
Total temporarily impaired   $ 22,197     $ (239 )   $ 138     $ (64 )   $ 22,335     $ (303 )

 

    Less than 12 Months     12 Months or more     Total  
Description of Securities   Fair
Value
    Unrealized
Loss
    Fair
Value
    Unrealized
Loss
    Fair
Value
    Unrealized
Loss
 
June 30, 2012                                                
Obligations of states and political subdivisions   $ 6,002     $ (109 )   $     $     $ 6,022     $ (109 )
Mortgage-backed securities - residential     11,135       (32 )                 11,135       (32 )
Collateralized mortgage obligations     6,411       (62 )     2,314     (20 )     8,725       (82 )
Trust preferred security                 64       (138 )     64       (138 )
Total temporarily impaired   $ 23,548     $ (203 )   $ 2,378     $ (158 )   $ 25,926     $ (361 )

 

Management evaluates securities for other-than-temporary impairment (OTTI) on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. The securities portfolio is evaluated for OTTI by segregating the portfolio into two general segments and applying the appropriate OTTI model. Investment securities are generally evaluated for OTTI under FASB ASC Topic 320, Accounting for Certain Investments in Debt and Equity Securities. However, the trust preferred security is evaluated using the model outlined in FASB ASC Topic 325, Recognition of Interest Income and Impairment on Purchased Beneficial Interests and Beneficial Interests that Continue to be Held by a Transfer in Securitized Financial Assets.

 

In determining OTTI under the ASC Topic 320 model, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the entity has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The assessment of whether an other-than-temporary decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time.

 

Unrealized losses on obligations of state and political subdivisions, residential mortgage-backed securities and collateralized mortgage obligations have not been recognized into income because the decline in fair value is not attributed to credit quality, management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery. The decline in fair value of the residential mortgage-backed securities and collateralized mortgage obligations is attributable to higher than projected prepayment speeds increasing the premium amortization and the decline in fair value of obligations of state and political subdivisions is largely due to spreads for these securities being wider at March 31, 2013 than when the securities were purchased. The fair value is expected to recover as the securities approach maturity.

 

Under the ASC Topic 325 model, the present value of the remaining cash flows as estimated at the preceding evaluation date are compared to the current expected remaining cash flows. An OTTI is deemed to have occurred if there has been an adverse change in the remaining expected future cash flows. The analysis of the trust preferred security falls within the scope of ASC Topic 325.

 

The Corporation owns a trust preferred security with an adjusted amortized cost of $202 and a fair value of $138, which represents collateralized debt obligations (CDOs) issued by other financial institutions, bank holding companies and a limited number of insurance companies. The security is part of a pool of issuers that support a more senior tranche of securities. Due to principal and/or interest deferrals by the issuers of the underlying securities, the cash interest payments for the trust preferred security are being deferred. On March 31, 2013, the lowest credit rating on this security was Fitch’s rating of C, which is defined as highly speculative. The investment security is evaluated using a model to compare the present value of expected cash flows to prior periods expected cash flows to determine if there has been an adverse change in cash flows during the period. The discount rate used to calculate the cash flows is the coupon rate of the security, based on the forward LIBOR curve. The OTTI model considers the structure and term of the CDO and the financial condition of the underlying issuers. In addition we use the model to “stress” the CDO, or make assumptions more severe than expected activity, to determine the degree to which assumptions could deteriorate before the CDO could no longer fully support repayment of the Corporation’s note class. According to the March 31, 2013 analysis, the expected cash flows were above the recorded amortized cost of the trust preferred security. The accumulated other-than-temporary impairment loss that has been recognized in earnings was $780 at March 31, 2013 and June 30, 2012. If there is further deterioration in the underlying collateral of this security, other-than-temporary impairments may also occur in future periods. Due to the illiquidity in the market, it is unlikely the Corporation would be able to recover its investment in this security if the Corporation sold the security at this time.

v2.4.0.6
Loans
9 Months Ended
Mar. 31, 2013
Receivables [Abstract]  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 3 – Loans

 

Major classifications of loans were as follows:

 

    March 31,
2013
    June 30,
2012
 
Commercial   $ 24,967     $ 23,041  
Commercial real estate:                
Construction     3,232       1,546  
Other     121,197       110,775  
1 – 4 Family residential real estate:                
Owner occupied     32,858       34,000  
Non-owner occupied     18,396       18,794  
Construction     474       187  
Consumer     11,775       9,407  
Subtotal     212,899       197,750  
Less: Net deferred loan fees     (285 )     (320 )
Allowance for loan losses     (2,377 )     (2,335 )
Net Loans   $ 210,237     $ 195,095  

  

The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ending March 31, 2013:

 

              1-4 Family              
          Commercial     Residential              
          Real     Real              
    Commercial     Estate     Estate     Consumer     Total  
                               
Allowance for loan losses:                              
Beginning balance   $ 145     $ 1,288     $ 644     $ 290     $ 2,367  
Provision for loan losses     (3 )     78     (11)       26       90  
Loans charged-off     (31 )           (43 )     (19)     (93 )
Recoveries                       13       13  
Total ending allowance balance   $ 111     $ 1,366     $ 590     $ 310     $ 2,377  

 

The following table presents the activity in the allowance for loan losses by portfolio segment for the nine months ended March 31, 2013:

 

                1-4 Family              
          Commercial     Residential              
          Real     Real     Real        
    Commercial     Estate     Estate     Consumer     Total  
                               
Allowance for loan losses:                              
Beginning balance   $ 143     $ 1,283     $ 712     $ 197     $ 2,335  
Provision for loan losses     3       107       (64 )     125       171  
Loans charged-off     (35 )     (24 )     (58 )     (59 )     (176 )
Recoveries                       47       47  
Total ending allowance balance   $ 111     $ 1,366     $ 590     $ 310     $ 2,377  

 

The following table presents the activity in the allowance for loan losses by portfolio segment for the three months ending March 31, 2012:

 

                1-4 Family              
          Commercial     Residential              
          Real     Real              
    Commercial     Estate     Estate     Consumer     Total  
                               
Allowance for loan losses:                              
Beginning balance   $ 118     $ 965     $ 900     $ 143     $ 2,126  
Provision for loan losses     4       3       2       2       11  
Loans charged-off                       (27 )     (27 )
Recoveries           65             39       104  
Total ending allowance balance   $ 122     $ 1,033     $ 902     $ 157     $ 2,214  

 

The following table presents the activity in the allowance for loan losses by portfolio segment for the nine months ending March 31, 2012:

 

                               
                1-4 Family              
          Commercial     Residential              
          Real     Real              
    Commercial     Estate     Estate     Consumer     Total  
                               
Allowance for loan losses:                              
Beginning balance   $ 179     $ 882     $ 947     $ 93     $ 2,101  
Provision for loan losses     (57 )     86       19       122       170  
Loans charged-off                 (69 )     (127 )     (196 )
Recoveries           65       5       69       139  
Total ending allowance balance   $ 122     $ 1,033     $ 902     $ 157     $ 2,214  

 

The following table presents the balance in the allowance for loan losses and t

he recorded investment in loans by portfolio segment and based on impairment method as of March 31, 2013. Included in the recorded investment in loans is $542 of accrued interest receivable net of deferred loan fees of $285.

 

                1-4 Family              
          Commercial     Residential              
          Real     Real              
    Commercial     Estate     Estate     Consumer     Total  
Allowance for loan losses:                              
Ending allowance balance attributable to loans:                              
Individually evaluated for impairment   $ 11     $ 100     $ 201       $—     $ 312  
Collectively evaluated for impairment     100       1,266       389       310       2,065  
Total ending allowance balance   $ 111     $ 1,366     $ 590     $ 310     $ 2,377  
                                         
Recorded investment in loans:                                        
Loans individually evaluated for impairment   $ 53     $ 880     $ 1,345       $—     $ 2,278  
Loans collectively evaluated for impairment     24,972       123,575       50,493       11,838       210,878  
Total ending loans balance   $ 25,025     $ 124,455     $ 51,838     $ 11,838     $ 213,156  

 

The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2012. Included in the recorded investment in loans is $494 of accrued interest receivable net of deferred loan fees of $320.

 

                1-4 Family              
          Commercial     Residential              
          Real     Real              
    Commercial     Estate     Estate     Consumer     Total  
Allowance for loan losses:                              
Ending allowance balance attributable to loans:                              
Individually evaluated for impairment   $ 50     $ 82     $ 258       $—     $ 390  
Collectively evaluated for impairment     93       1,201       454       197       1,945  
Total ending allowance balance   $ 143     $ 1,283     $ 712     $ 197     $ 2,335  
                                         
Recorded investment in loans:                                        
Loans individually evaluated for impairment   $ 148     $ 996     $ 1,417       $—     $ 2,561  
Loans collectively evaluated for impairment     22,940       111,352       51,683       9,388       195,363  
Total ending loans balance   $ 23,088     $ 112,348     $ 53,100     $ 9,388     $ 197,924  

  

The following table presents information related to loans individually evaluated for impairment by class of loans as of and for the nine months ended March 31, 2013:

 

          Unpaid     Allowance for     Average     Interest     Cash Basis  
    Principal     Recorded     Loan Losses     Recorded     Income     Interest  
    Balance     Investment     Allocated     Investment     Recognized     Recognized  
With no related allowance recorded:                                    
Commercial     $—       $—       $—     $ 4       $—       $—  
Commercial real estate:                                                
Other     67       67             63              
1-4 Family residential real estate:                                                
Owner occupied     126       126             96              
Non-owner occupied     56       56             57       3       3  
With an allowance recorded:                                                
Commercial     53       53       11       96       8       8  
Commercial real estate:                                                
Other     812       813       100       809       66       66  
1-4 Family residential real estate:                                                
Owner occupied     283       282       39       305              
Non-owner occupied     881       881       162       923       18       18  
Total   $ 2,278     $ 2,278     $ 312     $ 2,353     $ 95     $ 95  

 

The following table presents information related to average recorded investment and interest income associated with loans individually evaluated for impairment by class of loans for the three months ended March 31, 2013:

 

    Average     Interest     Cash Basis  
    Recorded     Income     Interest  
    Investment     Recognized     Recognized  
With no related allowance recorded:                  
Commercial real estate:                  
Other   $ 67       $—       $—  
1-4 Family residential real estate:                        
Owner occupied     126              
Non-owner occupied     57       1       1  
With an allowance recorded:                        
Commercial     75              
Commercial real estate:                        
Other     816       3       3  
1-4 Family residential real estate:                        
Owner occupied     285              
Non-owner occupied     884       6       6  
Total   $ 2,310     $ 10     $ 10  

 

The following table presents information related to loans individually evaluated for impairment by class of loans as of June 30, 2012 and for the nine months ended March 31, 2012:

 

    As of June 30, 2012     Nine Months ended March 31, 2012  
    Unpaid           Allowance for     Average     Interest     Cash Basis  
    Principal     Recorded     Loan Losses     Recorded     Income     Interest  
    Balance     Investment     Allocated     Investment     Recognized     Recognized  
With no related allowance recorded:                                    
Commercial   $ 12     $ 12       $—     $ 25       $—       $—  
Commercial real estate:                                                
Other     144       144             491       67       67  
1-4 Family residential real estate:                                                
Owner occupied     238       238             94       2       2  
Non-owner occupied     64       65             57       3       3  
With an allowance recorded:                                                
Commercial     136       136       50       88       2       2  
Commercial real estate:                                                
Other     851       852       82       797       12       12  
1-4 Family residential real estate:                                                
Owner occupied     160       160       13       255       2       2  
Non-owner occupied     952       954       245       929       10       10  
Total   $ 2,557     $ 2,561     $ 390     $ 2,736     $ 98     $ 98  

 

The following table presents information related to average recorded investment and interest income associated with loans individually evaluated for impairment by class of loans for the three months ended March 31, 2012:

 

    Average     Interest     Cash Basis  
    Recorded     Income     Interest  
    Investment     Recognized     Recognized  
With no related allowance recorded:                  
Commercial   $ 13       $—       $—  
Commercial real estate:                        
Other     208       64       64  
1-4 Family residential real estate:                        
Owner occupied     90              
Non-owner occupied     65       1       1  
With an allowance recorded:                        
Commercial     141       2       2  
Commercial real estate:                        
Other     869       1       1  
1-4 Family residential real estate:                        
Owner occupied     328       2       2  
Non-owner occupied     968       4       4  
Total   $ 2,682     $ 74     $ 74  

 

The following table presents the recorded investment in non-accrual and loans past due over 90 days still on accrual by class of loans as of March 31, 2013 and June 30, 2012:

 

    March 31, 2013     June 30, 2012  
          Loans Past Due           Loans Past Due  
          Over 90 Days           Over 90 Days  
          Still           Still  
    Non-accrual     Accruing     Non-accrual     Accruing  
Commercial   $ 46       $—     $ 51       $—  
Commercial real estate:                                
Other     494             911        
1 – 4 Family residential:                                
Owner occupied     303             307        
Non-owner occupied     674             663        
Consumer                          
Total   $ 1,517       $—     $ 1,932       $  

 

Non-accrual loans and loans past due 90 days still on accrual include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans.

 

The following table presents the aging of the recorded investment in past due loans as of March 31, 2013 by class of loans:

 

    Days Past Due                    
    30 - 59     60 - 89     90 Days or     Total     Loans Not        
    Days     Days     Greater     Past Due     Past Due     Total  
Commercial   $ 22     $ 5     $ 46     $ 73     $ 24,952     $ 25,025  
Commercial real estate:                                                
Construction                             3,232       3,232  
Other           63             63       121,160       121,223  
1-4 Family residential:                                                
Owner occupied     180             258       438       32,528       32,966  
Non-owner occupied                 84       84       18,315       18,399  
Construction                             473       473  
Consumer     36       16             52       11,786       11,838  
Total   $ 238     $ 84     $ 388     $ 710     $ 212,446     $ 213,156  

 

The above table of past due loans includes the recorded investment in non-accrual loans of $388 in the 90 days or greater and $1,129 in the loans not past due category.

 

The following table presents the aging of the recorded investment in past due loans as of June 30, 2012 by class of loans:

 

    Days Past Due                    
    30 - 59     60 - 89     90 Days or     Total     Loans Not        
    Days     Days     Greater     Past Due     Past Due     Total  
Commercial   $ 85       $—     $ 33     $ 118     $ 22,970     $ 23,088  
Commercial real estate:                                                
Construction     202                   202       1,345       1,547  
Other     82             268       350       110,451       110,801  
1-4 Family residential:                                                
Owner occupied     174             178       352       33,766       34,118  
Non-owner occupied     43                   43       18,753       18,796  
Construction                             186       186  
Consumer           8             8       9,380       9,388  
Total   $ 586     $ 8     $ 479     $ 1,073     $ 196,851     $ 197,924  

 

The above table of past due loans includes the recorded investment in non-accrual loans of $43 in the 30 – 59 days past due category, $479 in the 90 days or greater and $1,410 in the loans not past due category.

 

Troubled Debt Restructurings:

As of March 31, 2013, the recorded investment of loans classified as troubled debt restructurings was $1,972 with $270 of specific reserves allocated to these loans. As of June 30, 2012, the recorded investment of loans classified as troubled debt restructurings was $1,973 with $258 of specific reserves allocated to these loans. As of March 31, 2013 and June 30, 2012, the Corporation had not committed to lend any additional amounts to customers with outstanding loans that are classified as troubled debt restructurings.

 

During the nine months ended March 31, 2013 and during the year ended June 30, 2012, the terms of certain loans were modified as troubled debt restructurings. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; a permanent reduction of the principal balance of the loan; or a temporary reduction in the payment amount to interest only.

 

Modifications involving a reduction of the stated interest rate of the loan were for periods ranging from 12 months to 25 years. Modifications involving an extension of the maturity date were for a period of 5 years to 25 years.

 

The following table presents loans by class modified as troubled debt restructurings that occurred during the nine months ended March 31, 2013:

 

          Pre-Modification     Post-Modification  
    Number of     Outstanding Recorded     Outstanding Recorded  
    Loans     Investment     Investment  
Commercial real estate:                        
Other     1     $ 285     $ 282  
1 – 4 Family residential:                        
Owner occupied     1       21       21  
Total     2     $ 306     $ 303  

 

 

The following table presents loans by class modified as troubled debt restructurings that occurred during the nine month period ending March 31, 2012:

 

          Pre-Modification     Post-Modification  
    Number of     Outstanding Recorded     Outstanding Recorded  
    Loans     Investment     Investment  
Commercial     1     $ 85     $ 85  
Commercial real estate:                        
Other     2       137       137  
1 – 4 Family residential:                        
Owner occupied     1       114       114  
Non-owner occupied     7       534       466  
Total     11     $ 870     $ 802  

 

Troubled debt restructurings increased the allowance for loan losses by $41 and $43 for the three and nine month periods ending March 31, 2013, respectively. There were no charge offs from troubled debt restructurings during the three or nine month periods ending March 31, 2013. Troubled debt restructurings increased the allowance for loan losses by $12 and $32 for the three and nine month periods ending March 31, 2012, respectively. There were no charge offs from troubled debt restructurings during the three month period ending March 31, 2012 and charge offs of $63 during the nine month period ending March 31, 2012.

 

There were no loans classified as troubled debt restructurings for which there was a payment default during the three or nine month periods ending March 31, 2013. The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within 12 months following the modification during the period ending March 31, 2012:

 

    Number of     Recorded  
    Loans     Investment  
Troubled debt restructuring:            
Commercial real estate:            
Other     1     $ 440  

 

A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms.

 

Credit Quality Indicators:

The Corporation categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Corporation analyzes loans individually by classifying the loans as to credit risk. This analysis includes loans with a total outstanding loan relationship greater than $100 and non-homogeneous loans, such as commercial and commercial real estate loans. Management monitors the loans on an ongoing basis for any changes in the borrower’s ability to service their debt and affirm the risk ratings for the loans and leases in their respective portfolio on an annual basis. The Corporation uses the following definitions for risk ratings:

 

Special Mention. Loans classified as special mention have a potential weakness that deserves management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution's credit position at some future date.

 

Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

 

Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

 

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. Loans listed as not rated are either less than $100 or are included in groups of homogeneous loans. These loans are evaluated based on delinquency status, which are disclosed in the previous table within this footnote. Based on the most recent analysis performed, the recorded investment by risk category of loans by class of loans was as follows:

 

    As of March 31, 2013  
        Special               Not  
    Pass     Mention     Substandard     Doubtful     Rated  
Commercial   $ 23,826     $ 64     $ 24     $ 53     $ 1,058  
Commercial real estate:                                        
Construction     3,144       88                    
Other     111,936       5,222       2,729       880       456  
1-4 Family residential real estate:                                        
Owner occupied     4,302                   408       28,256  
Non-owner occupied     14,665       1,376       887       937       534  
Construction     168                         305  
Consumer                             11,838  
Total   $ 158,041     $ 6,750     $ 3,640     $ 2,278     $ 42,447  

 

    As of June 30, 2012  
    Special     Not                    
    Pass     Mention     Substandard     Doubtful     Rated  
Commercial   $ 21,642     $ 240     $ 14     $ 148     $ 1,044  
Commercial real estate:                                        
Construction     1,353       163                   31  
Other     98,942       7,332       2,657       996       874  
1-4 Family residential real estate:                                        
Owner occupied     4,256             99       398       29,365  
Non-owner occupied     14,205       2,197       875       1,019       500  
Construction     47                         139  
Consumer                       9,388          
Total   $ 140,445     $ 9,932     $ 3,645     $ 2,561     $ 41,341
v2.4.0.6
Fair Value
9 Months Ended
Mar. 31, 2013
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block]

Note 4 - Fair Value

 

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:

  

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

 

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

 

Level 3: Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

 

Financial assets and financial liabilities measured at fair value on a recurring basis include the following:

 

Securities available-for-sale: When available, the fair values of available-for-sale securities are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs). For securities where quoted market prices are not available, fair values are calculated based on market prices of similar securities (Level 2 inputs). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3 inputs). The fair value of the Level 3 security is obtained from a third-party pricing service. Discounted cash flows are calculated using spread to the swap and LIBOR curves. Rating agency and industry research reports as well as defaults and deferrals on the individual security is reviewed and incorporated into the calculation.

 

Assets and liabilities measured at fair value on a recurring basis are summarized below, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

          Fair Value Measurements at
March 31, 2013 Using
 
    Balance at
March 31, 2013
    Level 1     Level 2     Level 3  
Assets:                        
Obligations of U.S. government-sponsored entities and agencies   $ 4,857     $     $ 4,857     $  
Obligations of states and political subdivisions     39,960             39,960        
Mortgage-backed securities – residential     50,066             50,066        
Collateralized mortgage obligations     6,609             6,609        
Trust preferred security     138                   138  

 

          Fair Value Measurements at
June 30, 2012 Using
 
    Balance at
June 30, 2012
    Level 1     Level 2     Level 3  
Assets:                                
Obligations of U.S. government-sponsored entities and agencies   $ 8,567     $     $ 8,567     $  
Obligations of states and political subdivisions     35,276             35,276        
Mortgage-backed securities - residential     49,331             49,331        
Collateralized mortgage obligations     12,097             12,097        
Trust preferred security     64                   64  
                                 

 

There were no transfers between Level 1 and Level 2 during the first nine months of the 2013 fiscal year or the during the 2012 fiscal year.

 

The following table presents a reconciliation of the trust preferred security measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the nine months ended March 31, 2013 and 2012:

 

    2013     2012  
Beginning balance   $ 64     $ 67  
Change in fair value included in other comprehensive income     74       (3 )
Ending balance, March 31   $ 138     $ 64  

 

The significant unobservable inputs used in the fair value measurement of the Corporation’s trust preferred security are probabilities of specific-issuer defaults and deferrals and specific-issuer recovery assumptions. Significant increases in specific-issuer default assumptions or decreases in specific-issuer recovery assumptions would result in a significantly lower fair value measurement. Conversely, decreases in specific-issuer default assumptions or increases in specific-issuer recovery assumptions would result in a higher fair value measurement.

 

Certain financial assets and financial liabilities are measured at fair value on a non-recurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances. Financial assets and financial liabilities measured at fair value on a non-recurring basis include the following:

 

Impaired Loans: At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Impaired loans carried at fair value generally receive specific allocations of the allowance for loan losses. For collateral dependent loans, fair value is commonly 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 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.

 

Financial assets and financial liabilities measured at fair value on a non-recurring basis are summarized below:

 

          Fair Value Measurements at
March 31, 2013 Using
 
    Balance at
March 31, 2013
    Level 1     Level 2     Level 3  
Impaired loans:                        
Commercial   $ 36     $     $     $ 36  
1-4 Family                                
Owner occupied     118                   118  
Non-owner occupied     448                   448  

 

          Fair Value Measurements at
June 30, 2012 Using
 
    Balance at
June 30, 2012
    Level 1     Level 2     Level 3  
Impaired loans:                        
Commercial   $ 11     $     $     $ 11  
Commercial real estate:                                
Other     647                   647  
1-4 Family                                
Owner occupied     40                   40  
Non-owner occupied     438                   438  

 

Impaired loans, which are generally measured for impairment using the fair value of the collateral for collateral dependant loans, had a principal balance of $786, with a valuation allowance of $184 at March 31, 2013. As of June 30, 2012, impaired loans with a principal balance of $1,479 had a valuation allowance of $343. The resulting impact to the provision for loan losses was a reduction of $56 and $83 being recorded for the three and nine month periods ended March 31, 2013, respectively. The resulting impact to the provision for loan losses was a reduction of $53 for the three month period ended March 31, 2012 and an increase of $20 being recorded for the nine month period ended March 31, 2012.

 

The valuation technique used by an independent third party appraiser in the fair value measurement of collateral for collateral-dependent 1-4 family non-owner occupied impaired loans primarily consisted of the sales comparison and income approach. The significant unobservable inputs used in the fair value measurement relate to adjustments made to the value set forth in the appraisal by deducting a distressed sale adjustment. For the March 31, 2013 period, the collateral discount for the 1-4 family owner occupied impaired loan was 32.7% and for 1-4 family non-owner occupied impaired loans ranged from 10.4% to 29.5%. For the June 30, 2012 period, collateral discounts for commercial real estate impaired loans ranged from 33% to 41% and for 1-4 family non-owner occupied impaired loans ranged from 15% to 39%.

 

Estimated fair value for cash and cash equivalents, certificates of deposits in other financial institutions, accrued interest receivable and payable, demand and savings deposits and short-term borrowings were considered to approximate carrying value. The methodologies for other financial assets and financial liabilities are discussed below:

 

Loans held for sale: The fair value of loans held for sale is estimated based upon binding contracts and quotes from third party investors resulting in a Level 3 classification.

 

Loans: Fair value for loans was estimated for portfolios of loans with similar financial characteristics. For adjustable rate loans that reprice at least annually and for fixed rate commercial loans with maturities of six months or less which possess normal risk characteristics, carrying value was determined to be fair value. Fair value of other types of loans (including adjustable rate loans which reprice less frequently than annually and fixed rate term loans or loans which possess higher risk characteristics) was estimated by discounting future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for similar anticipated maturities resulting in a Level 3 classification. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. 

 

Time deposits: Fair value of fixed-maturity certificates of deposit was estimated using the rates offered at March 31, 2013 and June 30, 2012, for deposits of similar remaining maturities. Estimated fair value does not include the benefit that result from low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market resulting in a Level 2 classification.

 

Federal Home Loan Bank advances: Fair value of Federal Home Loan Bank advances was estimated using current rates at March 31, 2013 and June 30, 2012 for similar financing resulting in a Level 2 classification.

 

Federal bank and other restricted stocks, at cost: Federal bank and other restricted stocks include stock acquired for regulatory purposes, such as Federal Home Loan Bank stock and Federal Reserve Bank stock that are accounted for at cost due to restrictions placed on their transferability; and therefore, are not subject to the fair value disclosure requirements. The Corporation’s lending commitments have variable interest rates and “escape” clauses if the customer’s credit quality deteriorates. Therefore, the fair values of these items are not significant and are not included in the following table.

 

The following table shows the estimated fair values of financial instruments that are reported at amortized cost in the Corporation’s consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value:

 

   

March 31, 2013

   

June 30, 2012

 
   

Carrying
Amount

   

Estimated
Fair
Value

   

Carrying
Amount

   

Estimated
Fair
Value

 
Financial Assets:                      
Level 1 inputs:
Cash and cash equivalents
  $ 16,921     $ 16,921     $ 13,745     $ 13,745  
                                 
Level 2 inputs:
Certificates of deposits in other financial institutions
    5,645       5,645       5,645       5,645  
                                 
Accrued interest receivable     1,141       1,141       1,043       1,043  
Level 3 inputs:                                
Loans held for sale     192       199       377       387  
Loans     210,237       209,575       195,095       196,592  
Financial Liabilities:                                
Level 2 inputs:
Demand and savings deposits
    218,815       218,815       200,011       200,011  
Time deposits     80,459       81,044       84,470       85,262  
Short-term borrowings     12,483       12,483       13,722       13,722  
Federal Home Loan Bank advances     6,389       7,076       6,446       7,398  
Accrued interest payable     57       57       56       56  
v2.4.0.6
Earnings Per Share
9 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

Note 5 – Earnings Per Share

 

Basic earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period and is equal to net income divided by the weighted average number of shares outstanding during the period.  Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares that may be issued upon the vesting of restricted stock awards.  The following table details the calculation of basic and diluted earnings per share:

 

    For the Three Months
Ended March 31,
    For the Nine Months
Ended March 31,
 
    2013     2012     2013     2012  
Basic:                                
Net income available to common shareholders   $ 628     $ 686     $ 1,990     $ 2,164  
Weighted average common shares outstanding     2,065,887       2,051,024       2,061,969       2,050,390  
Basic income per share   $ 0.30     $ 0.33     $ 0.96     $ 1.06  
                                 
Diluted:                                
Net income available to common shareholders   $ 628     $ 686     $ 1,990     $ 2,164  
Weighted average common shares outstanding     2,065,887       2,051,024       2,061,969       2,050,390  
Dilutive effect of restricted stock     595       534       541       445  
Total common shares and dilutive potential common shares     2,066,482       2,051,558       2,062,510       2,050,835  
Dilutive income per share   $ 0.30     $ 0.33     $ 0.96     $ 1.06  
v2.4.0.6
Accumulated Other Comprehensive Income
9 Months Ended
Mar. 31, 2013
Accumulated Other Comprehensive Income [Abstract]  
Schedule Of Accumulated Other Comprehensive Income [Text Block]

Note 6 –Accumulated Other Comprehensive Income

 

The components of other comprehensive income related to unrealized gains and losses on available-for-sale securities for the three month period ended March 31, 2013, were as follows:

    For the Three Months Ended March 31, 2013  
Beginning balance   $ 1,835  
Other comprehensive income before reclassification, net of taxes of $137     (264 )
Amounts reclassified from accumulated other comprehensive income, net of taxes of $341     (67 )
Net current period other comprehensive income, net of tax     (331 )
Ending balance   $ 1,504  

 

1 Within the consolidated statement of income, security gains/(losses), net in non-interest income was impacted by $101 and income tax expense was impacted by $34 due to reclassifications from accumulated other comprehensive income.

v2.4.0.6
Summary of Significant Accounting Policies (Policies)
9 Months Ended
Mar. 31, 2013
Organization, Consolidation and Presentation Of Financial Statements [Abstract]  
Nature Of Operations [Policy Text Block]

Nature of Operations: Consumers Bancorp, Inc. (the Corporation) is a bank holding company headquartered in Minerva, Ohio that provides, through its banking subsidiary, Consumers National Bank (the Bank), a broad array of products and services throughout its primary market area of Stark, Columbiana, Carroll and contiguous counties in Ohio. The Bank’s business involves attracting deposits from businesses and individual customers and using such deposits to originate commercial, mortgage and consumer loans in its primary market area.

Basis Of Accounting Policy [Policy Text Block]

Basis of Presentation: The consolidated financial statements for interim periods are unaudited and reflect all adjustments (consisting of only normal recurring adjustments), which, in the opinion of management, are necessary to present fairly the financial position and results of operations and cash flows for the periods presented. The unaudited financial statements are presented in accordance with the requirements of Form 10-Q and do not include all disclosures normally required by accounting principles generally accepted in the United States of America. The financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Corporation’s Form 10-K for the year ended June 30, 2012. The results of operations for the interim period disclosed herein are not necessarily indicative of the results that may be expected for a full year.

 

The consolidated financial statements include the accounts of the Corporation and the Bank. All significant inter-company transactions and accounts have been eliminated in consolidation.

Segment Reporting, Policy [Policy Text Block]

Segment Information: Consumers Bancorp, Inc. is a bank holding company engaged in the business of commercial and retail banking, which accounts for substantially all of the revenues, operating income, and assets. Accordingly, all of its operations are recorded in one segment, banking.

Prior Period Reclassification Adjustment, Description [Policy Text Block]

Reclassifications: Certain items in prior financial statements have been reclassified to conform to the current presentation.

New Accounting Pronouncements, Policy [Policy Text Block]
New Accounting Standards: In February 2013, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2013-02, Comprehensive Income: Reporting of Amounts Classified out of Accumulated Other Comprehensive Income, with the primary objective of improving the reporting of reclassifications out of accumulated other comprehensive income. This ASU requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. The amendments are effective prospectively for fiscal years, and interim periods within those year, beginning after December 15, 2012. The Corporation early adopted the ASU as of March 31, 2013. The amendments did not have a material impact on Corporation’s Consolidated Financial Statements. See Note 6 for the additional disclosure.
v2.4.0.6
Securities (Tables)
9 Months Ended
Mar. 31, 2013
Investments, Debt and Equity Securities [Abstract]  
Trading Securities (and Certain Trading Assets) [Table Text Block]

Description of Securities   Amortized
Cost
    Gross
Unrealized
Gains
    Gross
Unrealized
Losses
    Fair
Value
 
March 31, 2013                                
Obligations of U.S. government-sponsored entities and agencies   $ 4,814     $ 43     $     $ 4,857  
Obligations of state and political subdivisions     38,587       1,497       (124 )     39,960  
Mortgage-backed securities – residential     49,133       1,022       (89 )     50,066  
Collateralized mortgage obligations     6,615       20       (26 )     6,609  
Trust preferred security     202             (64 )     138  
Total securities   $ 99,351