Note 7 - Federal Home Loan Bank Advances

12 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Federal Home Loan Bank Advances, Disclosure [Text Block]

NOTE

7—FEDERAL

HOME LOAN BANK ADVANCES

A summary of Federal Home Loan Bank (FHLB) advances were as follows:

							June 30, 201 8					June 30, 201 7
	Stated Interest Rate Range								Weighted Average					Weighted Average
Advance Type	From			To			Amount		Rate			Amount		Rate
Fixed-rate, amortizing		4.30	%		4.30	%	$	56		4.30	%	$	120		4.30	%
Fixed-rate		1.16			1.78			11,700		1.46			12,200		1.47

Each fixed rate advance has a prepayment penalty equal to the present value of

100%

of the lost cash flow based upon the difference between the contract rate on the advance and the current rate on a comparable new advance. The following table is a summary of the scheduled principal payments for all advances:

Twelve Months Ending June 30	Principal Payments
2019	$	2,056
2020		1,500
2021		1,500
2022		1,700
Thereafter		5,000
Total	$	11,756

Pursuant to collateral agreements with the FHLB, advances are secured by all the stock invested in the FHLB and certain qualifying

first

mortgage and multi-family loans. The advances were collateralized by

$53,572

and

$49,023

of

first

mortgage and multi-family loans under a blanket lien arrangement at

June 30, 2018

and

2017,

respectively. Based on this collateral and the Corporation’s holdings of FHLB stock, the Bank was eligible to borrow up to a total of

$14,892

in additional advances at

June 30, 2018.