Income Taxes (Tables)

12 Months Ended

Jun. 30, 2017

Income Taxes [Abstract]

Provision for Income Taxes

The provision for income taxes consists of the following for the years ended June 30, 2017 and 2016:

(In thousands)	2017			2016
Current expense:
Federal	$	3,591		$	3,137
State		409			256
Total current expense		4,000			3,393
Deferred benefit		(259	)		(714	)
Total provision for income taxes	$	3,741		$	2,679

Effective Tax Rate Reconciliation

The effective tax rate differs from the federal statutory rate as follows for the years ended June 30, 2017 and 2016:

	2017			2016
Tax based on federal statutory rate		34.00	%		34.00	%
State income taxes, net of federal benefit		0.89			0.75
Tax-exempt income		(8.20	)		(9.05	)
Captive insurance premium income		(2.28	)		(2.95	)
Other, net		0.55			0.26
Total income tax expense		24.96	%		23.01	%

Deferred Tax Assets and Liabilities

The components of the deferred tax assets and liabilities at June 30 were as follows:

(In thousands)	2017		2016
Deferred tax assets:
Allowance for loan losses	$	4,220	$	3,669
Pension benefits		310		689
Other benefit plans		1,957		1,137
Total deferred tax assets		6,487		5,495
Deferred tax liabilities:
Depreciation		1,392		1,346
Loan costs		1,051		894
Real estate investment trust income		3,052		2,283
Unrealized gains on securities		379		771
Other		224		225
Total deferred tax liabilities		6,098		5,519
Net deferred tax asset (liability) included in prepaid expenses and other assets (other liabilities)	$	389	$	(24	)