Employee Benefit Plans (Tables)

12 Months Ended

Jun. 30, 2015

Employee Benefit Plans [Abstract]

Change in Fair Value of Plan Assets

Information regarding the single-employer defined benefit pension plan at June 30, 2015 and 2014 is as follows:

(In thousands)
Change in projected benefit obligation:	2015			2014
Benefit obligation at beginning of year	$	5,311		$	4,971
Interest cost		220			223
Actuarial loss		428			297
Benefits paid		(502	)		(180	)
Benefit obligation at June 30		5,457			5,311
Change in fair value of plan assets:
Fair value of plan assets at beginning of year		4,887			4,637
Actual return on plan assets		96			430
Employer contributions		-			-
Benefits paid		(502	)		(180	)
Fair value of plan assets at June 30		4,481			4,887
Underfunded status at June 30 included in other liabilities	$	976		$	424

Schedule of Net Periodic Pension Costs

The components of net periodic pension costs related to the defined benefit pension plan for the years ended June 30, 2015 and 2014 were as follows:

(In thousands)	2015			2014
Interest cost	$	220		$	223
Expected return on plan assets		(335	)		(318	)
Amortization of net loss		106			89
Effect of settlement		144			-
Net periodic pension (income) cost	$	135		$	(6	)

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Changes in plan assets and benefit obligations recognized in other comprehensive loss during the years ended June 30, 2015 and 2014 consisted of the following:

(In thousands)	2015		2014
Actuarial loss on plan assets and benefit obligations	$	418	$	96
Deferred tax benefit		162		37
Net change in plan assets and benefit obligations recognized in other comprehensive income (loss)	$	256	$	59

Schedule of Amounts Recognized in Financial Condition

Amounts recognized in our consolidated statements of financial condition related to our pension plan for the years ended June 30, 2015 and 2014 are as follows:

(In thousands)
Other liabilities:	2015			2014
Projected benefit obligation in excess of fair value of pension plan	$	976		$	424
Accumulated other comprehensive loss, net of taxes:
Net losses and past service liability	$	(1,491	)	$	(1,235	)

Schedule of Assumptions Used

The principal actuarial assumptions used were as follows:

Projected benefit obligation:	2015			2014
Discount rate		4.32	%		4.22	%
Net periodic pension expense:
Amortization period, in years		14			15
Discount rate		4.22	%		4.57	%
Expected long-term rate of return on plan assets		7.00	%		7.00	%

Schedule of Allocation of Plan Assets

The weighted average asset allocation and fair value of our funded pension plan at June 30, 2015 and 2014 was as follows:

(Dollars in thousands)	2015				2014
	Fair Value				Fair Value
Money market accounts	$	15	0.3	%	$	15	0.3	%
Mutual funds		4,466	99.7	%		4,872	99.7	%
Total plan assets	$	4,481	100.0	%	$	4,887	100.0	%

Schedule of Expected Benefit Payments

Expected benefit payments under the pension plan over the next ten years at June 30, 2015 are as follows:

(In thousands)
2016	$	184
2017		215
2018		215
2019		215
2020		214
2021-2025		1,184