Note 9.

Commitments

Lease Commitments

The Bank leases property for three branch facilities expiring in various years through November 2018.

Future minimum rental payments resulting from the non-cancelable term of these leases are as follows (in thousands):

Year Ending
June 30,	Amount

2016	$	72
2017		26
2018		26
2019		11

Total	$	135

Total rent expense paid under the terms of these leases for the years ended June 30, 2015 and 2014, amounted to $61,000 and $110,000, respectively. Rent expense for the year ended June 30, 2014, is net of sublease rental income in the amount of $4,000.

Contractual Commitment

The Bank has an agreement with a third-party to provide on-line data processing services. The agreement, which expires May 31, 2019, contains minimum monthly service charges of $11,481. At the end of this term, the agreement will automatically continue for successive periods of five years unless terminated upon written notice given at least six months prior to the end of the present term.

The future minimum commitments for the on-line processing services are as follows (in thousands):

Year Ending
June 30,	Amount
	(In Thousands)

2016	$	138
2017		138
2018		138
2019		126
	$	540

Employment Contracts

The Company and the Bank have employment contracts with certain key employees. These contracts provide for compensation and termination benefits. The future minimum commitments for employment contracts are as follows (in thousands):

Year Ending
June 30,	Amount
	(In Thousands)

2016	$	378
2017		354
2018		274
2019		97

Total	$	1,103

Letters of Credit

At June 30, 2015, the Company had outstanding secured letters of credit in the aggregate amount of $20.5 million outstanding with the Federal Home Loan Bank all expiring within one year. These letters of credit were issued to secure public body deposits. There were no outstanding borrowings associated with these letters of credit at June 30, 2015.