Note 6 - Short-term Borrowings

12 Months Ended

Jun. 30, 2017

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,

2017

and

2016,

maturing in less than

one

year is summarized as follows:

	2017			2016
Balance at June 30	$	23,986		$	19,129
Average balance during the year		21,053			21,196
Maximum month-end balance		28,073			25,759
Average interest rate during the year		0.43	%		0.18	%
Weighted average rate, June 30		0.82	%		0.20	%

Securities available-for-sale pledged for repurchase agreements as of

June 30, 2017

and

2016

are presented in the following table.

	Overnight and Continuous
	2017		2016
U.S. government-sponsored entities and agencies pledged	$	2,015	$	2,066
Residential mortgage-backed securities pledged		20,923		16,864
Collateralized mortgage obligations pledged		2,355		1,510
Total pledged	$	25,293	$	20,440
Repurchase agreements	$	23,986	$	19,129

Total interest expense on short-term borrowings was

$90

and

$39

for the years ended

June 30, 2017

and

2016,

respectively.