v2.4.0.6
INCOME TAXES (Tables)
12 Months Ended
Jun. 30, 2013
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:
 
 
 
2013
 
2012
 
Current income taxes
 
$
730
 
$
1,070
 
Deferred income taxes (benefits)
 
 
(96)
 
 
(271)
 
 
 
$
634
 
$
799
 
 
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
The net deferred income tax asset consists of the following components at June 30:
 
 
 
2013
 
2012
 
Deferred tax assets:
 
 
 
 
 
 
 
Allowance for loan losses
 
$
742
 
$
627
 
Deferred compensation
 
 
581
 
 
532
 
Net unrealized securities loss
 
 
8
 
 
 
Recognized loss on impairment of security
 
 
265
 
 
265
 
Intangibles
 
 
66
 
 
109
 
OREO deferred gain
 
 
16
 
 
16
 
Nonaccrual loan interest income
 
 
82
 
 
74
 
Gross deferred tax asset
 
 
1,760
 
 
1,623
 
 
 
 
 
 
 
 
 
Deferred tax liabilities:
 
 
 
 
 
 
 
Depreciation
 
 
(294)
 
 
(261)
 
Loan fees
 
 
(217)
 
 
(211)
 
Prepaid expenses
 
 
(74)
 
 
(80)
 
FHLB stock dividends
 
 
(165)
 
 
(165)
 
Net unrealized securities gain
 
 
 
 
(826)
 
Gross deferred tax liabilities
 
 
(750)
 
 
(1,543)
 
Net deferred asset
 
$
1,010
 
$
80
 
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:
 
 
 
2013
 
2012
 
Income taxes computed at the statutory rate on pretax income
 
$
1,123
 
$
1,211
 
Tax exempt income
 
 
(437)
 
 
(359)
 
Cash surrender value income
 
 
(63)
 
 
(66)
 
Other
 
 
11
 
 
13
 
 
 
$
634
 
$
799