Note 6 - Short-term Borrowings

12 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE 6—SHORT-TERM BORROWINGS

Short-term borrowings consisted of repurchase agreements and Federal fund purchased. Securities sold under agreements to repurchase are utilized to facilitate the needs of our customers. Physical control is maintained for all securities pledged to secure repurchase agreements. Information concerning all short-term borrowings at June 30, 2016 and 2015, maturing in less than one year is summarized as follows:

	201 6			201 5
Balance at June 30	$	19,129		$	19,838
Average balance during the year		21,196			18,281
Maximum month-end balance		25,759			21,583
Average interest rate during the year		0.18	%		0.17	%
Weighted average rate, June 30		0.20	%		0.16	%

The remaining contractual maturity of repurchase agreements in the consolidated balance sheets as of June 30, 2016 and 2015 is presented in the following table.

	Overnight and Continuous
	2016		2015
U.S. government-sponsored entities and agencies pledged	$	2,066	$	4,313
Residential mortgage-backed securities pledged		16,864		16,301
Collateralized mortgage obligations pledged		1,510		1,658
Total pledged	$	20,440	$	22,272
Repurchase agreements	$	19,129	$	19,838

Total interest expense on short-term borrowings was $39 and $31 for the years ended June 30, 2016 and 2015, respectively.