PREMISES AND EQUIPMENT

12 Months Ended

Jun. 30, 2015

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:

	2015		2014
Land	$	1,469	$	1,469
Land improvements		406		406
Building and leasehold improvements		11,391		6,141
Furniture, fixture and equipment		4,853		4,795
Total premises and equipment		18,119		12,811
Accumulated depreciation and amortization		(6,514)		(6,098)
Premises and equipment, net	$	11,605	$	6,713

Included in Building and Leasehold improvements above is $6,453 and $1,164 of construction in progress as of June 30, 2015 and 2014, respectively related to construction of the Corporation’s main office and branch location. Once these assets are placed into service, these assets will be depreciated over the estimated useful life of the assets. Depreciation expense was $575 and $551 for the years ended June 30, 2015 and 2014, 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:

Twelve Months Ending June 30
2016	$	95
2017		77
2018		43
2019		4
2020		4
	$	223

Rent expense incurred was $134 and $115 during the years ended June 30, 2015 and 2014, respectively.