Operating Leases

12 Months Ended

Jun. 30, 2014

Note 14. Operating Leases

The Bank of Greene County has non-cancelable lease commitments for three branch locations. These leases include obligations for real estate taxes, insurance and maintenance expenses. Total lease expense was $69,000 for the years ended June 30, 2014 and 2013, respectively. Minimum non-cancelable lease commitments for future years ending June 30 are as follows:

The year ended June 30, (In thousands)	Annual Lease Payments
2015	$	70
2016		64
2017		26
Thereafter		-
Total payments	$	160

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References+ Details