Income Taxes (Tables)

12 Months Ended

Jun. 30, 2018

Income Taxes [Abstract]

Provision for Income Taxes

The provision for income taxes consists of the following for the years ended June 30, 2018 and 2017:

(In thousands)	2018		2017
Current expense:
Federal	$	3,819	$	3,591
State		220		409
Total current expense		4,039		4,000
Deferred expense (benefit)		56		(259	)
Total provision for income taxes	$	4,095	$	3,741

Effective Tax Rate Reconciliation

The effective tax rate differs from the federal statutory rate as follows for the years ended June 30, 2018 and 2017:

	2018			2017
Tax based on federal statutory rate		28.10	%		34.00	%
State income taxes, net of federal benefit		0.49			0.89
Tax-exempt income		(7.03	)		(8.20	)
Captive insurance premium income		(1.78	)		(2.28	)
Other, net		2.35			0.55
Total income tax expense		22.13	%		24.96	%

Deferred Tax Assets and Liabilities

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

(In thousands)	2018		2017
Deferred tax assets:
Allowance for loan losses	$	3,142	$	4,220
Pension benefits		146		310
Other benefit plans		1,388		1,957
Total deferred tax assets		4,676		6,487
Deferred tax liabilities:
Depreciation		919		1,392
Loan costs		763		1,051
Real estate investment trust income		2,253		3,052
Unrealized gains on securities		3		379
Other		189		224
Total deferred tax liabilities		4,127		6,098
Net deferred tax asset included in prepaid expenses and other assets	$	549	$	389