Employee Benefit Plans (Tables)

12 Months Ended

Jun. 30, 2016

Employee Benefit Plans [Abstract]

Change in Fair Value of Plan Assets

Information regarding the single-employer defined benefit pension plan at June 30, 2016 and 2015 is as follows:

(In thousands)
Change in projected benefit obligation:	2016			2015
Benefit obligation at beginning of year	$	5,457		$	5,311
Interest cost		232			220
Actuarial loss		695			428
Benefits paid		(213	)		(502	)
Benefit obligation at June 30		6,171			5,457
Change in fair value of plan assets:
Fair value of plan assets at beginning of year		4,481			4,887
Actual return on plan assets		123			96
Employer contributions		-			-
Benefits paid		(213	)		(502	)
Fair value of plan assets at June 30		4,391			4,481
Underfunded status at June 30 included in other liabilities	$	1,780		$	976

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, 2016 and 2015 were as follows:

(In thousands)	2016			2015
Interest cost	$	232		$	220
Expected return on plan assets		(307	)		(335	)
Amortization of net loss		135			106
Effect of settlement		-			144
Net periodic pension cost	$	60		$	135

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, 2016 and 2015 consisted of the following:

(In thousands)	2016		2015
Actuarial loss on plan assets and benefit obligations	$	744	$	418
Deferred tax benefit		288		162
Net change in plan assets and benefit obligations recognized in other comprehensive income	$	456	$	256

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, 2016 and 2015 are as follows:

(In thousands)
Other liabilities:	2016			2015
Projected benefit obligation in excess of fair value of pension plan	$	1,780		$	976
Accumulated other comprehensive loss, net of taxes:
Net losses and past service liability	$	(1,947	)	$	(1,491	)

Schedule of Assumptions Used

The principal actuarial assumptions used were as follows:

Projected benefit obligation:	2016			2015
Discount rate		3.55	%		4.32	%
Net periodic pension expense:
Amortization period, in years		13			14
Discount rate		4.32	%		4.22	%
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, 2016 and 2015 was as follows:

(Dollars in thousands)	2016				2015
	Fair Value				Fair Value
Money market accounts	$	16	0.4	%	$	15	0.3	%
Mutual funds		4,375	99.6			4,466	99.7
Total plan assets	$	4,391	100.0	%	$	4,481	100.0	%

Schedule of Expected Benefit Payments

Expected benefit payments under the pension plan over the next ten years at June 30, 2016 are as follows:

(In thousands)
2017	$	221
2018		221
2019		220
2020		219
2021		225
2022-2026		1,208