Income Taxes (Tables)

12 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Schedule Of Combined Federal And State Statutory Tax Rates [Table Text Block]

Statutory Tax Rates	FY2019			FY2018
Federal Tax Rate		21.00	%		28.06	%
State Tax Rate		10.84	%		10.84	%
Combined Statutory Tax Rate (1)		29.56	%		35.86	%

⁽¹⁾ The combined statutory tax rate is net of the federal tax benefit for the state tax deduction.

Schedule of Provision for Income Taxes

	Year Ended June 30,
(In Thousands)	2019		2018
Current:
Federal	$	445	$	2,271
State		408		960
		853		3,231
Deferred:
Federal		478		582
State		172		(417	)
		650		165
Provision for income taxes	$	1,503	$	3,396

Schedule of Effective Income Tax Rate Reconciliation

		Year Ended June 30,
		2019					2018
(In Thousands)		Amount			Tax Rate		Amount			Tax Rate
Federal income tax at statutory rate		$	1,243		21.00	%	$	1,551			28.06	%
State income tax, net of federal income tax benefits		456			7.70	%	429				7.77	%
Changes in taxes resulting from:
	Bank-owned life insurance	(39		)	(0.66	)%	(50		)		(0.90	)%
	Non-deductible expenses	21			0.35	%	30				0.53	%
	Non-deductible stock-based compensation	(2		)	(0.03	)%	15				0.26	%
	Excess tax benefit on stock-based compensation	(104		)	(1.77	)%	(189		)		(3.41	)%
	Deferred tax asset revaluation due to the Tax Act	—			—	%	1,765				31.93	%
	Return to provision adjustment	(77		)	(1.29	)%	—				—	%
	Other(1)	5			0.08	%	(155		)		(2.81	)%
Effective income tax		$	1,503		25.38	%	$	3,396			61.43	%

⁽¹⁾ Tax benefit resulting from the corporate tax rate reduction in fiscal 2018.

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets at June 30, 2019 and 2018 by jurisdiction were as follows:

	June 30,
(In Thousands)	2019		2018
Deferred taxes - federal	$	2,178	$	2,636
Deferred taxes - state		1,361		1,532
Total net deferred tax assets	$	3,539	$	4,168

Net deferred tax assets at June 30, 2019 and 2018 were comprised of the following:

	June 30,
(In Thousands)	2019			2018
Loss reserves	$	2,685		$	2,873
Non-accrued interest		483			502
Deferred compensation		2,396			2,509
Accrued vacation		124			224
Depreciation		95			99
Litigation reserves		876			1,441
Other		588			358
Total deferred tax assets		7,247			8,006
FHLB - San Francisco stock dividends		(664	)		(664	)
Unrealized gain on derivative financial instruments, at fair value		—			(123	)
Prepaid expenses		(56	)		(49	)
Unrealized gain on investment securities		(63	)		(82	)
Unrealized gain on interest-only strips		(5	)		(6	)
Deferred loan costs		(2,723	)		(2,806	)
State tax		(197	)		(108	)
Total deferred tax liabilities		(3,708	)		(3,838	)
Net deferred tax assets	$	3,539		$	4,168