UNITED STATES
|
SECURITIES AND EXCHANGE COMMISSION
|
Washington, D.C. 20549
|
FORM 10-K
|
☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
For the fiscal year ended June 30, 2016
|
OR
|
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
For the transition period from _______________ to _________________.
|
Commission File Number 001-35019
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA
|
(Exact name of registrant as specified in its charter)
|
Louisiana
|
02-0815311
|
||
(State or Other Jurisdiction of
|
(I.R.S. Employer
|
||
Incorporation or Organization)
|
Identification No.)
|
||
624 Market Street, Shreveport, Louisiana
|
71101
|
||
(Address of Principal Executive Offices)
|
(Zip Code)
|
Registrant's telephone number, including area code:
|
(318) 222-1145
|
Securities registered pursuant to Section 12(b) of the Act:
|
|||||||
Title of each class
|
Name of each exchange on which registered
|
||||||
Common Stock (par value $.01 per share)
|
Nasdaq Stock Market, LLC
|
||||||
Securities registered pursuant to Section 12(g) of the Act: None
|
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒
|
|
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒
|
|
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 5(d) of the Securities and Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.Yes ☒ No ☐
|
|
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐
|
|
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ☒
|
|
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
|
|
Large accelerated filer ☐
|
Accelerated filer ☐
|
Non-accelerated filer ☐ (Do not check if a smaller reporting company)
|
Smaller reporting company ☒
|
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒
|
|
The aggregate value of the 1.5 million shares of Common Stock of the Registrant issued and outstanding on December 31, 2015, which excludes an aggregate of 565,000 shares held by all directors and executives officers of the Registrant, the Registrant's Employee Stock Ownership Plan ("ESOP"), the Recognition and Retention Plan Trust ("RRP") and Employees' Savings and Profit Sharing Plan ("401(k) Plan") as a group was $34.25 million. This figure is based on the closing sales price of $23.25 per share of the Registrant's Common Stock on December 31, 2015, the last business day of the Registrant's second fiscal quarter. Although directors and executive officers, the ESOP, RRP and 401(k) Plan were assumed to be "affiliates" of the Registrant for purposes of this calculation, the classification is not to be interpreted as an admission of such status.
|
|
Number of shares of Common Stock outstanding as of September 20, 2016: 1,960,719
|
|
DOCUMENTS INCORPORATED BY REFERENCE
|
|
Portions of the Definitive Proxy Statement for the 2016 Annual Meeting of Shareholders are incorporated into Part III, Items 10 through 14.
|
|
PART I.
|
||
Item 1.
|
Business
|
1
|
Item 1A.
|
Risk Factors
|
28
|
Item 1B.
|
Unresolved Staff Comments
|
28
|
Item 2.
|
Properties
|
28
|
Item 3.
|
Legal Proceedings
|
29
|
Item 4.
|
Mine Safety Disclosures
|
29
|
PART II.
|
||
Item 5.
|
Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
|
29
|
Item 6.
|
Selected Financial Data
|
30
|
Item 7.
|
Management's Discussion and Analysis of Financial Condition and Results of Operations
|
31
|
Item 7A.
|
Quantitative and Qualitative Disclosure About Market Risk
|
40
|
Item 8.
|
Financial Statements and Supplementary Data
|
41
|
Item 9.
|
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure
|
86
|
Item 9A.
|
Controls and Procedures
|
86
|
Item 9B.
|
Other Information
|
86
|
PART III.
|
||
Item 10.
|
Directors, Executive Officers and Corporate Governance
|
87
|
Item 11.
|
Executive Compensation
|
87
|
Item 12.
|
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
|
87
|
Item 13.
|
Certain Relationships and Related Transactions and Director Independence
|
87
|
Item 14.
|
Principal Accounting Fees and Services
|
88
|
PART IV.
|
||
Item 15.
|
Exhibits and Financial Statement Schedules
|
88
|
June 30,
|
||||||||||||||||||||||||||||||||||||||||
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||||||||||||||||||||||||||||
Amount
|
Percent
of Total
Loans
|
Amount
|
Percent
of Total
Loans
|
Amount
|
Percent
of Total
Loans
|
Amount
|
Percent
of Total
Loans
|
Amount
|
Percent
of Total
Loans
|
|||||||||||||||||||||||||||||||
(Dollars in thousands)
|
||||||||||||||||||||||||||||||||||||||||
Real estate loans:
|
||||||||||||||||||||||||||||||||||||||||
One- to four-family residential(1)
|
$
|
118,035
|
40.17
|
%
|
$
|
103,332
|
38.11
|
%
|
$
|
89,545
|
36.96
|
%
|
$
|
73,243
|
35.11
|
%
|
$
|
59,410
|
34.88
|
%
|
||||||||||||||||||||
Commercial – real estate secured:
|
||||||||||||||||||||||||||||||||||||||||
Owner occupied
|
47,425
|
16.14
|
38,280
|
14.12
|
29,210
|
12.06
|
25,523
|
12.24
|
27,103
|
15.91
|
||||||||||||||||||||||||||||||
Non-owner occupied
|
21,772
|
7.41
|
23,800
|
8.78
|
27,056
|
11.17
|
25,646
|
12.30
|
12,127
|
7.12
|
||||||||||||||||||||||||||||||
Total commercial-real estate secured
|
69,197
|
23.55
|
62,080
|
22.90
|
56,266
|
23.23
|
51,169
|
24.54
|
39,230
|
23.03
|
||||||||||||||||||||||||||||||
Multi-family residential
|
20,661
|
7.03
|
15,246
|
5.62
|
20,368
|
8.41
|
19,587
|
9.39
|
12,919
|
7.58
|
||||||||||||||||||||||||||||||
Land
|
24,308
|
8.27
|
19,866
|
7.33
|
19,945
|
8.23
|
15,589
|
7.47
|
12,317
|
7.23
|
||||||||||||||||||||||||||||||
Construction
|
14,442
|
4.92
|
17,620
|
6.50
|
12,505
|
5.16
|
16,937
|
8.12
|
22,660
|
13.30
|
||||||||||||||||||||||||||||||
Home equity loans and second mortgage
loans
|
1,526
|
0.52
|
2,460
|
0.91
|
2,563
|
1.06
|
2,305
|
1.11
|
2,520
|
1.48
|
||||||||||||||||||||||||||||||
Equity lines of credit
|
17,290
|
5.88
|
22,187
|
8.18
|
14,950
|
6.17
|
12,592
|
6.04
|
8,461
|
4.97
|
||||||||||||||||||||||||||||||
Total real estate loans
|
265,459
|
90.34
|
242,791
|
89.55
|
216,142
|
89.22
|
191,422
|
91.78
|
157,517
|
92.47
|
||||||||||||||||||||||||||||||
Commercial business
|
27,886
|
9.49
|
28,019
|
10.33
|
25,749
|
10.63
|
16,776
|
8.04
|
12,369
|
7.26
|
||||||||||||||||||||||||||||||
Consumer non-real estate loans:
|
||||||||||||||||||||||||||||||||||||||||
Savings accounts
|
404
|
0.14
|
209
|
0.08
|
255
|
0.11
|
259
|
0.12
|
227
|
0.13
|
||||||||||||||||||||||||||||||
Automobile and other consumer loans
|
86
|
0.03
|
110
|
0.04
|
111
|
0.04
|
128
|
0.06
|
228
|
0.14
|
||||||||||||||||||||||||||||||
Total non-real estate loans
|
28,376
|
9.66
|
28,338
|
10.45
|
26,115
|
10.78
|
17,163
|
8.23
|
12,824
|
7.53
|
||||||||||||||||||||||||||||||
Total loans
|
293,835
|
100.00
|
%
|
271,129
|
100.00
|
%
|
242,257
|
100.00
|
%
|
208,585
|
100.00
|
%
|
170,341
|
100.00
|
%
|
|||||||||||||||||||||||||
Less:
|
||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses
|
(2,845
|
)
|
(2,515
|
)
|
(2,396
|
)
|
(2,240
|
)
|
(1,698
|
)
|
||||||||||||||||||||||||||||||
Deferred loan fees
|
(163
|
)
|
(187
|
)
|
(298
|
)
|
(266
|
)
|
(380
|
)
|
||||||||||||||||||||||||||||||
Net loans receivable(1)
|
$
|
290,827
|
$
|
268,427
|
$
|
239,563
|
$
|
206,079
|
$
|
168,263
|
(1) | Does not include loans held-for-sale amounting to $11.9 million, $14.2 million, $9.4 million, $3.5 million and $11.2 million at June 30, 2016, 2015, 2014, 2013 and 2012, respectively. |
Year Ended June 30,
|
||||||||||||
2016
|
2015
|
2014
|
||||||||||
(In thousands)
|
||||||||||||
Loan originations:
|
||||||||||||
One- to four-family residential
|
$
|
115,449
|
$
|
103,052
|
$
|
91,891
|
||||||
Commercial — real estate secured:
|
||||||||||||
Owner occupied
|
48,076
|
69,849
|
53,966
|
|||||||||
Non-owner occupied
|
8,169
|
5,307
|
9,946
|
|||||||||
Multi-family residential
|
5,914
|
3,035
|
1,242
|
|||||||||
Commercial business
|
33,092
|
48,309
|
42,200
|
|||||||||
Land
|
8,302
|
7,176
|
12,135
|
|||||||||
Construction
|
19,538
|
26,920
|
27,855
|
|||||||||
Home equity loans and lines of credit
and other consumer
|
9,351
|
8,974
|
7,813
|
|||||||||
Total loan originations
|
247,891
|
272,622
|
247,048
|
|||||||||
Loans purchased
|
--
|
--
|
--
|
|||||||||
Total loan originations and loans purchased
|
247,891
|
272,622
|
247,048
|
|||||||||
Loans Sold | (101,295 | ) | (86,806 | ) | (83,579 | ) | ||||||
Loan principal repayments
|
(126,172
|
)
|
(152,117
|
)
|
(123,885
|
)
|
||||||
Total loans sold and principal repayments
|
(227,467
|
)
|
(238,923
|
)
|
(207,464
|
)
|
||||||
Increase (decrease) due to other items, net(1)
|
1,976
|
(4,835
|
)
|
(6,100
|
)
|
|||||||
Net increase in loan portfolio
|
$
|
22,400
|
$
|
28,864
|
$
|
33,484
|
One-to
Four
Family
Residential
|
Commercial
Real Estate
Secured
|
Multi
Family
Residential
|
Commercial
Business
|
Land
|
Construction
|
Home
Equity
Loans
and Lines
of Credit
and Other
Consumer
|
Total
|
|||||||||||||||||||||||||
(In thousands)
|
||||||||||||||||||||||||||||||||
Amounts due after June 30, 2016 in:
|
||||||||||||||||||||||||||||||||
One year or less
|
$
|
7,803
|
$
|
10,626
|
$
|
6,759
|
$
|
11,565
|
$
|
17,913
|
$
|
14,131
|
$
|
5,139
|
$
|
73,936
|
||||||||||||||||
After one year through two years
|
8,719
|
9,651
|
--
|
7,032
|
3,744
|
311
|
3,134
|
32,591
|
||||||||||||||||||||||||
After two years through three years
|
11,451
|
12,366
|
737
|
3,415
|
993
|
--
|
2,895
|
31,857
|
||||||||||||||||||||||||
After three years through five years
|
23,822
|
14,975
|
764
|
5,325
|
1,197
|
--
|
1,692
|
47,775
|
||||||||||||||||||||||||
After five years through ten years
|
5,887
|
19,336
|
7,637
|
549
|
461
|
--
|
5,996
|
39,866
|
||||||||||||||||||||||||
After ten years through fifteen years
|
9,874
|
2,243
|
2,746
|
--
|
--
|
--
|
350
|
15,213
|
||||||||||||||||||||||||
After fifteen years
|
50,479
|
--
|
2,018
|
--
|
--
|
--
|
100
|
52,597
|
||||||||||||||||||||||||
Total
|
$
|
118,035
|
$
|
69,197
|
$
|
20,661
|
$
|
27,886
|
$
|
24,308
|
$
|
14,442
|
$
|
19,306
|
$
|
293,835
|
Floating or
|
||||||||||||
Fixed-Rate
|
Adjustable-Rate
|
Total
|
||||||||||
(In thousands)
|
||||||||||||
One- to four-family residential
|
$
|
89,772
|
$
|
20,460
|
$
|
110,232
|
||||||
Commercial — real estate secured
|
58,571
|
--
|
58,571
|
|||||||||
Multi-family residential
|
13,902
|
--
|
13,902
|
|||||||||
Commercial business
|
16,321
|
--
|
16,321
|
|||||||||
Land
|
6,395
|
--
|
6,395
|
|||||||||
Construction
|
311
|
--
|
311
|
|||||||||
Home equity loans and lines of credit and other consumer
|
14,167
|
--
|
14,167
|
|||||||||
Total
|
$
|
199,439
|
$
|
20,460
|
$
|
219,899
|
June 30, | ||||||||||||||||||||||||||||||||
2016 | 2015 | |||||||||||||||||||||||||||||||
|
30-89
Days Overdue
|
90 or More Days
Overdue
|
30-89
Days Overdue
|
90 or More Days
Overdue
|
||||||||||||||||||||||||||||
|
Number
|
Principal
|
Number
|
Principal
|
Number
|
Principal
|
Number
|
Principal
|
||||||||||||||||||||||||
|
of Loans
|
Balance
|
of Loans
|
Balance
|
of Loans
|
Balance
|
of Loans
|
Balance
|
||||||||||||||||||||||||
(Dollars in thousands)
|
||||||||||||||||||||||||||||||||
One- to four-family residential
|
37
|
$
|
4,320
|
2
|
$
|
114
|
29
|
$
|
3,237
|
2
|
$
|
80
|
||||||||||||||||||||
Commercial — real estate secured
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||||||||
Multi-family residential
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||||||||
Commercial business
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||||||||
Land
|
1
|
556
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||||||||
Construction
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||||||||
Home equity loans and lines of credit
and other consumer
|
3
|
93
|
--
|
--
|
1
|
3
|
--
|
--
|
||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
Total delinquent loans
|
41
|
$
|
4,969
|
2
|
$
|
114
|
30
|
$
|
3,240
|
2
|
$
|
80
|
||||||||||||||||||||
|
||||||||||||||||||||||||||||||||
Delinquent loans to total net loans
|
1.71
|
%
|
0.04
|
%
|
1.21
|
%
|
0.03
|
%
|
||||||||||||||||||||||||
Delinquent loans to total loans
|
1.69
|
%
|
0.04
|
%
|
1.20
|
%
|
0.03
|
%
|
June 30,
|
||||||||||||||||||||
|
2016
|
2015
|
2014
|
2013
|
2012
|
|||||||||||||||
(Dollars in thousands)
|
||||||||||||||||||||
Non-accruing loans:
|
||||||||||||||||||||
One- to four-family residential
|
$
|
13
|
$
|
13
|
$
|
151
|
$
|
386
|
$
|
14
|
||||||||||
Commercial — real estate secured
|
--
|
--
|
--
|
--
|
--
|
|||||||||||||||
Multi-family residential
|
--
|
--
|
--
|
--
|
--
|
|||||||||||||||
Commercial business
|
--
|
--
|
--
|
--
|
--
|
|||||||||||||||
Land
|
--
|
--
|
--
|
--
|
--
|
|||||||||||||||
Construction
|
--
|
--
|
--
|
--
|
--
|
|||||||||||||||
Home equity loans and lines of credit and other consumer
|
--
|
--
|
27
|
27
|
--
|
|||||||||||||||
Total non-accruing loans
|
13
|
13
|
178
|
413
|
4
|
|||||||||||||||
Accruing loans 90 days or more past due
|
101
|
67
|
13
|
236
|
--
|
|||||||||||||||
Total non-performing loans(1)
|
114
|
80
|
191
|
649
|
14
|
|||||||||||||||
Real estate owned, net
|
--
|
40
|
--
|
--
|
--
|
|||||||||||||||
Total non-performing assets
|
$
|
114
|
$
|
120
|
$
|
191
|
$
|
649
|
$
|
14
|
||||||||||
Troubled debt restructurings (2)
|
1,990
|
--
|
--
|
--
|
--
|
|||||||||||||||
Total non-performing assets and troubled debt restructurings
|
$
|
2,104
|
$
|
120
|
$
|
191
|
$
|
649
|
$
|
14
|
||||||||||
Total non-performing loans as a percent of loans, net
|
0.04
|
%
|
0.03
|
%
|
0.07
|
%
|
0.31
|
%
|
0.01
|
%
|
||||||||||
Total non-performing assets as a percent of total assets
|
0.03
|
%
|
0.03
|
%
|
0.05
|
%
|
0.23
|
%
|
0.00
|
%
|
||||||||||
Total non-performing assets and troubled debt restructurings as a percentage of
total assets
|
0.55
|
%
|
0.03
|
%
|
0.05
|
%
|
0.23
|
%
|
*
|
%
|
|
June 30,
|
|||||||||||||||||||
|
2016
|
2015
|
2014
|
2013
|
2012
|
|||||||||||||||
(Dollars in thousands)
|
||||||||||||||||||||
|
||||||||||||||||||||
Total loans outstanding at end of period
|
$
|
293,835
|
$
|
271,129
|
$
|
242,257
|
$
|
208,585
|
$
|
170,341
|
||||||||||
Average loans outstanding
|
287,405
|
269,408
|
224,463
|
197,812
|
156,759
|
|||||||||||||||
Allowance for loan losses, beginning of period
|
2,515
|
2,396
|
2,240
|
1,698
|
842
|
|||||||||||||||
Provision for loan losses
|
271
|
300
|
168
|
558
|
856
|
|||||||||||||||
Recoveries
|
59
|
--
|
--
|
--
|
--
|
|||||||||||||||
Charge-offs
|
--
|
(181
|
)
|
(12
|
)
|
(16
|
)
|
--
|
||||||||||||
Allowance for loan losses, end of period
|
$
|
2,845
|
$
|
2,515
|
$
|
2,396
|
$
|
2,240
|
$
|
1,698
|
||||||||||
|
||||||||||||||||||||
Allowance for loan losses as a percent of non-performing loans
|
2,501.99
|
%
|
3,143.75
|
%
|
1,254.45
|
%
|
345.15
|
%
|
12,128.57
|
%
|
||||||||||
Allowance for loan losses as a percent of loans outstanding
|
0.97
|
%
|
0.93
|
%
|
0.99
|
%
|
1.07
|
%
|
1.00
|
%
|
June 30,
|
||||||||||||||||||||||||||||||||||||||||
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||||||||||||||||||||||||||||
Amount of
Allowance
|
Loan Category
as a %
of Total Loans
|
Amount of
Allowance
|
Loan
Category
as a %
of Total Loans
|
Amount of
Allowance
|
Loan
Category
as a %
of Total Loans
|
Amount of
Allowance
|
Loan
Category
as a %
of Total Loans
|
Amount of
Allowance
|
Loan
Category
as a %
of Total Loans
|
|||||||||||||||||||||||||||||||
(Dollars in thousands)
|
||||||||||||||||||||||||||||||||||||||||
One- to four-family residential
|
$
|
1,517
|
40.17
|
%
|
$
|
1,195
|
38.11
|
%
|
$
|
1,224
|
36.96
|
%
|
$
|
1,023
|
35.11
|
%
|
$
|
306
|
34.88
|
%
|
||||||||||||||||||||
Commercial – real estate secured
|
321
|
23.55
|
415
|
22.90
|
464
|
23.23
|
338
|
24.54
|
185
|
23.03
|
||||||||||||||||||||||||||||||
Multi-family residential
|
111
|
7.03
|
103
|
5.62
|
128
|
8.41
|
103
|
9.39
|
205
|
7.58
|
||||||||||||||||||||||||||||||
Commercial business
|
444
|
9.49
|
305
|
10.33
|
202
|
10.63
|
412
|
8.04
|
281
|
7.26
|
||||||||||||||||||||||||||||||
Land
|
201
|
8.27
|
154
|
7.33
|
168
|
8.23
|
127
|
7.47
|
270
|
7.23
|
||||||||||||||||||||||||||||||
Construction
|
126
|
4.92
|
146
|
6.50
|
105
|
5.16
|
146
|
8.12
|
311
|
13.30
|
||||||||||||||||||||||||||||||
Home equity loans and lines of credit
and other consumer
|
125
|
6.57
|
197
|
9.21
|
105
|
7.38
|
91
|
7.33
|
140
|
6.72
|
||||||||||||||||||||||||||||||
Total
|
$
|
2,845
|
100.00
|
%
|
$
|
2,515
|
100.00
|
%
|
$
|
2,396
|
100.00
|
%
|
$
|
2,240
|
100.00
|
%
|
$
|
1,698
|
100.00
|
%
|
June 30,
|
||||||||||||||||||||||||
2016
|
2015
|
2014 | ||||||||||||||||||||||
Amortized
Cost
|
Fair
Value
|
Amortized
Cost
|
Fair
Value
|
Amortized
Cost
|
Fair
Value
|
|||||||||||||||||||
(In thousands)
|
||||||||||||||||||||||||
Securities Held-to-Maturity:
|
||||||||||||||||||||||||
FNBB stock
|
$
|
250
|
$
|
250
|
$
|
250
|
$
|
250
|
$
|
250
|
$
|
250
|
||||||||||||
FHLB stock
|
2,099
|
2,099
|
1,760
|
1,760
|
1,515
|
1,515
|
||||||||||||||||||
Total Securities Held-to-Maturity
|
2,349
|
2,349
|
2,010
|
2,010
|
1,765
|
1,765
|
||||||||||||||||||
Securities Available-for-Sale:
|
||||||||||||||||||||||||
Mortgage-backed securities
|
50,045
|
50,173
|
44,733
|
44,885
|
48,173
|
48,434
|
||||||||||||||||||
Total Investment Securities
|
$
|
52,394
|
$
|
52,522
|
$
|
46,743
|
$
|
46,895
|
$
|
49,938
|
$
|
50,199
|
Amounts at June 30, 2016 which Mature in
|
||||||||||||||||||||||||||||||||
One Year
or Less
|
Weighted
Average
Yield
|
Over One
Year
Through
Five Years
|
Weighted
Average
Yield
|
Over Five
Through
Ten Years
|
Weighted
Average
Yield
|
Over
Ten Years
|
Weighted
Average
Yield
|
|||||||||||||||||||||||||
(Dollars in thousands)
|
||||||||||||||||||||||||||||||||
Bonds and other debt securities:
|
||||||||||||||||||||||||||||||||
Mortgage-backed securities
|
$
|
1
|
2.65
|
%
|
$
|
123
|
3.59
|
%
|
$
|
59
|
2.47
|
%
|
$
|
49,990
|
1.75
|
%
|
||||||||||||||||
Equity securities(1):
|
||||||||||||||||||||||||||||||||
FNBB stock
|
--
|
--
|
--
|
--
|
--
|
--
|
250
|
1.13
|
||||||||||||||||||||||||
FHLB stock
|
--
|
--
|
--
|
--
|
--
|
--
|
2,099
|
1.05
|
||||||||||||||||||||||||
Total investment securities and
bank stock
|
$
|
1
|
2.65
|
%
|
$
|
123
|
3.59
|
%
|
$
|
59
|
2.47
|
%
|
$
|
52,339
|
2.11
|
%
|
June 30,
|
||||||||||||
2016
|
2015
|
2014
|
||||||||||
(In thousands)
|
||||||||||||
Fixed rate:
|
||||||||||||
GNMA
|
$
|
41
|
$
|
50
|
$
|
65
|
||||||
FHLMC
|
10,698
|
147
|
150
|
|||||||||
FNMA
|
27,108
|
27,596
|
25,466
|
|||||||||
Total fixed rate
|
37,847
|
27,793
|
25,681
|
|||||||||
Adjustable rate:
|
||||||||||||
GNMA
|
12,116
|
16,744
|
22,266
|
|||||||||
FHLMC
|
96
|
137
|
173
|
|||||||||
FNMA
|
114
|
211
|
314
|
|||||||||
Total adjustable-rate
|
12,326
|
17,092
|
22,753
|
|||||||||
Total mortgage-backed securities
|
$
|
50,173
|
$
|
44,885
|
$
|
48,434
|
|
Amounts at June 30, 2016 which Mature in
|
|||||||||||||||||||||||
|
Weighted
|
Over One
|
Weighted
|
Weighted
|
||||||||||||||||||||
|
One Year
|
Average
|
through
|
Average
|
Over
|
Average
|
||||||||||||||||||
|
or Less
|
Yield
|
Five Years
|
Yield
|
Five Years
|
Yield
|
||||||||||||||||||
|
(In thousands)
|
|||||||||||||||||||||||
Fixed rate:
|
||||||||||||||||||||||||
GNMA
|
$
|
--
|
--
|
%
|
$
|
22
|
9.11
|
%
|
$
|
19
|
8.61
|
%
|
||||||||||||
FHLMC
|
--
|
--
|
--
|
--
|
10,698
|
1.56
|
||||||||||||||||||
FNMA
|
1
|
2.65
|
--
|
--
|
27,107
|
2.37
|
||||||||||||||||||
Total fixed-rate
|
1
|
2.65
|
%
|
22
|
9.11
|
%
|
37,824
|
2.14
|
%
|
|||||||||||||||
|
||||||||||||||||||||||||
Adjustable rate:
|
||||||||||||||||||||||||
GNMA
|
$
|
--
|
--
|
%
|
$
|
--
|
--
|
%
|
$
|
12,116
|
0.60
|
%
|
||||||||||||
FHLMC
|
--
|
--
|
18
|
1.67
|
78
|
2.29
|
||||||||||||||||||
FNMA
|
--
|
--
|
83
|
2.51
|
31
|
2.23
|
||||||||||||||||||
Total adjustable-rate
|
--
|
--
|
%
|
101
|
2.37
|
%
|
12,225
|
0.61
|
%
|
|||||||||||||||
|
||||||||||||||||||||||||
Total
|
$
|
1
|
2.65
|
%
|
$
|
123
|
3.58
|
%
|
$
|
50,049
|
1.77
|
%
|
At or For the
Year Ended June 30,
|
||||||||||||
|
2016
|
2015
|
2014
|
|||||||||
Mortgage-backed securities at beginning of period
|
$
|
44,733
|
$
|
48,173
|
$
|
47,894
|
||||||
Purchases
|
16,722
|
9,843
|
23,158
|
|||||||||
Repayments
|
(11,392
|
)
|
(11,263
|
)
|
(9,845
|
)
|
||||||
Sales
|
--
|
(1,954
|
)
|
(12,984
|
)
|
|||||||
Amortizations of premiums and discounts, net
|
(17
|
)
|
(66
|
)
|
(50
|
)
|
||||||
|
||||||||||||
Mortgage-backed securities at end of period
|
$
|
50,046
|
$
|
44,733
|
$
|
48,173
|
||||||
|
||||||||||||
Weighted average yield at end of period
|
1.77
|
%
|
1.90
|
%
|
2.16
|
%
|
June 30,
|
||||||||||||||||||||||||||
2016
|
2015
|
2014
|
||||||||||||||||||||||||
Percent of
|
Percent of
|
Percent of
|
||||||||||||||||||||||||
Amount
|
Total
Deposits
|
Amount
|
Total
Deposits
|
Amount
|
Total
Deposits
|
|||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||
Certificate accounts:
|
||||||||||||||||||||||||||
0.00% - 0.99%
|
|
$
|
46,544
|
16.17
|
%
|
$
|
57,103
|
19.95
|
%
|
$
|
46,786
|
17.18
|
%
|
|||||||||||||
1.00% - 1.99%
|
|
70,606
|
24.53
|
68,242
|
23.84
|
43,105
|
15.83
|
|||||||||||||||||||
2.00% - 2.99%
|
|
14,961
|
5.20
|
15,943
|
5.57
|
17,780
|
6.53
|
|||||||||||||||||||
3.00% - 3.99%
|
|
386
|
0.13
|
4,684
|
1.64
|
12,757
|
4.69
|
|||||||||||||||||||
Total certificate accounts
|
132,497
|
46.03
|
145,972
|
51.00
|
120,428
|
44.23
|
||||||||||||||||||||
Transaction accounts:
|
||||||||||||||||||||||||||
Passbook savings
|
29,033
|
10.09
|
18,435
|
6.44
|
12,165
|
4.47
|
||||||||||||||||||||
Non-interest bearing demand
accounts
|
39,280
|
13.65
|
45,024
|
15.73
|
43,447
|
15.95
|
||||||||||||||||||||
NOW accounts
|
37,761
|
13.12
|
31,214
|
10.90
|
24,015
|
8.82
|
||||||||||||||||||||
Money market
|
49,251
|
17.11
|
45,593
|
15.93
|
72,240
|
26.53
|
||||||||||||||||||||
Total transaction accounts
|
155,325
|
53.97
|
140,266
|
49.00
|
151,867
|
55.77
|
||||||||||||||||||||
Total deposits
|
$
|
287,822
|
100.00
|
%
|
$
|
286,238
|
100.00
|
%
|
$
|
272,295
|
100.00
|
%
|
Year Ended June 30,
|
||||||||||||||||||||||||||||||||||||
2016
|
2015
|
2014
|
||||||||||||||||||||||||||||||||||
Average
|
Average
|
Average
|
||||||||||||||||||||||||||||||||||
Average
|
Interest
|
Rate
|
Average
|
Interest
|
Rate
|
Average
|
Interest
|
Rate
|
||||||||||||||||||||||||||||
Balance
|
Expense
|
Paid
|
Balance
|
Expense
|
Paid
|
Balance
|
Expense
|
Paid
|
||||||||||||||||||||||||||||
(Dollars in thousands)
|
||||||||||||||||||||||||||||||||||||
Passbook savings
|
$
|
23,993
|
$
|
92
|
0.38
|
%
|
$
|
14,762
|
$
|
34
|
.23
|
%
|
$
|
11,221
|
$
|
23
|
0.20
|
%
|
||||||||||||||||||
NOW accounts
|
35,797
|
283
|
0.79
|
29,821
|
228
|
0.76
|
26,544
|
240
|
0.90
|
|||||||||||||||||||||||||||
Money market
|
47,953
|
149
|
0.31
|
43,770
|
141
|
0.32
|
45,637
|
150
|
0.33
|
|||||||||||||||||||||||||||
Certificates of deposit
|
141,160
|
1,805
|
1.28
|
133,605
|
1,831
|
1.37
|
114,496
|
1,745
|
1.52
|
|||||||||||||||||||||||||||
Total interest-bearing
deposits
|
248,903
|
2,329
|
0.94
|
221,958
|
2,234
|
1.01
|
197,898
|
2,158
|
1.09
|
|||||||||||||||||||||||||||
Non-Interest bearing
|
||||||||||||||||||||||||||||||||||||
demand accounts
|
$
|
43,100
|
$
|
--
|
--
|
%
|
$
|
40,428
|
$
|
--
|
--
|
%
|
$
|
33,776
|
$
|
--
|
--
|
%
|
||||||||||||||||||
Total deposits
|
$
|
292,003
|
$
|
2,329
|
0.80
|
%
|
$
|
262,386
|
$
|
2,234
|
0.85
|
%
|
$
|
231,674
|
$
|
2,158
|
0.93
|
%
|
Year Ended June 30,
|
||||||||||||
2016
|
2015
|
2014
|
||||||||||
(In thousands)
|
||||||||||||
Net deposits (withdrawals)
|
$
|
(205
|
)
|
$
|
12,274
|
$
|
58,706
|
|||||
Interest credited
|
1,789
|
1,669
|
1,667
|
|||||||||
Total increase (decrease) in deposits
|
$
|
1,584
|
$
|
13,943
|
$
|
60,373
|
Balance at June 30, 2016
|
||||||||||||||||||||||
Maturing in the 12 Months Ending June 30,
|
||||||||||||||||||||||
Certificates of Deposit
|
2017
|
2018
|
2019
|
Thereafter
|
Total
|
|||||||||||||||||
(In thousands)
|
||||||||||||||||||||||
0.00% - 0.99%
|
|
$
|
36,308
|
$
|
9,653
|
$
|
496
|
$
|
86
|
$
|
46,544
|
|||||||||||
1.00% - 1.99%
|
|
16,828
|
20,188
|
9,801
|
23,789
|
70,606
|
||||||||||||||||
2.00% - 2.99%
|
|
4,862
|
200
|
1,661
|
8,239
|
14,961
|
||||||||||||||||
3.00% - 3.99%
|
|
386
|
--
|
--
|
--
|
386
|
||||||||||||||||
Total certificate accounts
|
$
|
58,384
|
$
|
30,041
|
$
|
11,958
|
$
|
32,114
|
$
|
132,497
|
Weighted
|
||||||||
Amount
|
Average Rate
|
|||||||
(Dollars in thousands)
|
||||||||
September 30, 2016
|
$
|
9,469
|
1.00
|
%
|
||||
December 31, 2016
|
11,268
|
0.86
|
||||||
March 31, 2017
|
7,583
|
0.74
|
||||||
June 30, 2017
|
12,150
|
0.74
|
||||||
After June 30, 2017
|
45,249
|
1.53
|
||||||
Total certificates of deposit with balances of $100,000 or more
|
$
|
85,719
|
1.53
|
%
|
|
At or For the Year
|
|||||||||||
|
Ended June 30,
|
|||||||||||
|
2016
|
2015
|
2014
|
|||||||||
|
(Dollars in thousands)
|
|||||||||||
FHLB advances:
|
||||||||||||
Average balance outstanding
|
$
|
30,277
|
$
|
40,858
|
$
|
19,816
|
||||||
Maximum amount outstanding at any month-end during the period
|
47,665
|
49,030
|
29,666
|
|||||||||
Balance outstanding at end of period
|
47,665
|
38,411
|
12,897
|
|||||||||
Average interest rate during the period
|
0.87
|
%
|
0.60
|
%
|
0.83
|
%
|
||||||
Weighted average interest rate at end of period
|
0.81
|
%
|
0.68
|
%
|
1.16
|
%
|
Years Ending June 30,
|
Amount
|
|||
(In thousands)
|
||||
2017
|
$
|
23,758
|
||
2018
|
22,270
|
|||
2019
|
282
|
|||
2020
|
295
|
|||
2021
|
193
|
|||
Thereafter
|
867
|
|||
Total
|
$
|
47,665
|
●
|
The Office of Thrift Supervision merged into the Office of the Comptroller of the Currency and the authority of the other remaining bank regulatory agencies were restructured. The federal thrift charter is preserved under the jurisdiction of the Office of the Comptroller of the Currency.
|
●
|
A new independent consumer financial protection bureau was established within the Federal Reserve Board, empowered to exercise broad regulatory, supervisory and enforcement authority with respect to both new and existing consumer financial protection laws. However, smaller financial institutions, like Home Federal Bank, are subject to the supervision and enforcement of their primary federal banking regulator with respect to the federal consumer financial protection laws.
|
●
|
Tier 1 capital treatment for "hybrid" capital items like trust preferred securities was eliminated subject to various grandfathering and transition rules.
|
●
|
The prohibition on payment of interest on demand deposits was repealed.
|
●
|
State law is preempted only if it would have a discriminatory effect on a federal savings association or is preempted by any other federal law. The Office of the Comptroller of the Currency must make a preemption determination on a case-by-case basis with respect to a particular state law or other state law with substantively equivalent terms.
|
●
|
Deposit insurance is permanently increased to $250,000.
|
●
|
Deposit insurance assessment base calculation equals the depository institution's total assets minus the sum of its average tangible equity during the assessment period.
|
● |
The minimum reserve ratio of the Deposit Insurance Fund increased to 1.35 percent of estimated annual insured deposits or assessment base; however, the Federal Deposit Insurance Corporation is directed to "offset the effect" of the increased reserve ratio for insured depository institutions with total consolidated assets of less than $10 billion.
|
●
|
Authority over savings and loan holding companies transferred to the Federal Reserve Board.
|
●
|
Leverage capital requirements and risk based capital requirements applicable to depository institutions and bank holding companies were extended to thrift holding companies. However, certain smaller savings and loan holding companies such as Home Federal Bancorp are exempt from those capital requirements.
|
●
|
The Federal Deposit Insurance Act was amended to direct federal regulators to require depository institution holding companies to serve as a source of strength for their depository institution subsidiaries.
|
●
|
The Securities and Exchange Commission is authorized to adopt rules requiring public companies to make their proxy materials available to shareholders for nomination of their own candidates for election to the board of directors.
|
●
|
Public companies are now required to provide their shareholders with a non-binding vote: (i) at least once every three years on the compensation paid to executive officers, and (ii) at least once every six years on whether they should have a "say on pay" vote every one, two or three years.
|
●
|
A separate, non-binding shareholder vote is now required regarding golden parachutes for named executive officers when a shareholder vote takes place on mergers, acquisitions, dispositions or other transactions that would trigger the parachute payments.
|
●
|
Securities exchanges are now required to prohibit brokers from using their own discretion to vote shares not beneficially owned by them for certain "significant" matters, which include votes on the election of directors, executive compensation matters, and any other matter determined to be significant.
|
●
|
Stock exchanges, which do not include the OTC Bulletin Board, will be prohibited from listing the securities of any issuer that does not have a policy providing for (i) disclosure of its policy on incentive compensation payable on the basis of financial information reportable under the securities laws, and (ii) the recovery from current or former executive officers, following an accounting restatement triggered by material noncompliance with securities law reporting requirements, of any incentive compensation paid erroneously during the three-year period preceding the date on which the restatement was required that exceeds the amount that would have been paid on the basis of the restated financial information.
|
●
|
Disclosure in annual proxy materials will be required concerning the relationship between the executive compensation paid and the financial performance of the issuer.
|
●
|
Item 402 of Regulation S-K will be amended to require companies to disclose the ratio of the Chief Executive Officer's annual total compensation to the median annual total compensation of all other employees.
|
●
|
Smaller reporting companies are exempt from complying with the internal control auditor attestation requirements of Section 404(b) of the Sarbanes-Oxley Act.
|
Total Risk-
|
Tier 1 Risk-
|
Common
|
Tier 1
|
|||||
Based
|
Based
|
Equity Tier 1
|
Leverage
|
|||||
Capital Category
|
Capital
|
Capital
|
Capital
|
Capital
|
||||
Well capitalized
|
10% or more
|
8% or more
|
6.5% or more
|
5% or more
|
||||
Adequately capitalized
|
8% or more
|
6% or more
|
4.5% or more
|
4% or more
|
||||
Undercapitalized
|
Less than 8%
|
Less than 6%
|
Less than 4.5%
|
Less than 4%
|
||||
Significantly undercapitalized
|
Less than 6%
|
Less than 4%
|
Less than 3%
|
Less than 3%
|
●
|
Making any new investments or engaging in any new activity not allowed for both a national bank and a savings association;
|
●
|
Establishing any new branch office unless allowable for a national bank; and
|
●
|
Paying dividends unless allowable for a national bank and necessary to meet the obligations of its holding company.
|
Description/Address
|
Leased/Owned
|
Net Book
Value
of Property
|
Amount of
Deposits
|
|||||||||||||||
(In thousands) | ||||||||||||||||||
Building (Home Office)
222 Florida Street, Shreveport, LA
|
Owned
|
$
|
1,661
|
$
|
--
|
|||||||||||||
Building/ATM (Market Street Branch)
624 Market Street, Shreveport, LA
|
Owned
|
1,027
|
93,538
|
|||||||||||||||
Building/ATM (Youree Drive Branch)
6363 Youree Dr., Shreveport, LA
|
Owned
|
(1) |
|
|
213
|
|
102,594
|
|||||||||||
Building/ATM (Mansfield Road Branch)
9300 Mansfield Rd., Suite 101, Shreveport, LA
|
Leased
|
94
|
38,228
|
|||||||||||||||
Building/ATM (Viking Drive Branch)
2555 Viking Drive, Bossier City, LA
|
Owned
|
3,000
|
35,430
|
|||||||||||||||
Building/ATM (Stockwell Branch)
7964 E. Texas Street, Bossier City, LA
|
Owned
|
1,870
|
17,048
|
|||||||||||||||
Building/ATM (Northwood Branch)
5841 North Market Street, Shreveport, LA
|
Owned
|
1,851
|
984
|
|||||||||||||||
Building (2)
614 Market Street, Shreveport, LA
|
Owned
|
399
|
--
|
|||||||||||||||
Lots 1-5, Block 1
Highway 171 South, Stonewall, LA
|
Owned
|
747
|
--
|
|||||||||||||||
Land
901 Pierremont Road, Shreveport, LA
|
Owned
|
914
|
--
|
(1) | The building is owned but the land is subject to an operating lease which was renewed effective December 1, 2008 for a ten-year period. |
Stock Price per Share
|
Cash Dividends
|
|||||||||||
Quarter Ended
|
High
|
Low
|
per Share
|
|||||||||
Fiscal 2016:
|
||||||||||||
June 30, 2016
|
$
|
22.55
|
$
|
21.45
|
$
|
0.08
|
||||||
March 31, 2016
|
23.25
|
22.00
|
0.08
|
|||||||||
December 31, 2015
|
25.00
|
22.34
|
0.08
|
|||||||||
September 30, 2015
|
27.37
|
20.19
|
0.08
|
|||||||||
Fiscal 2015:
|
||||||||||||
June 30, 2015
|
$
|
21.77
|
$
|
19.25
|
$
|
0.07
|
||||||
March 31, 2015
|
20.00
|
19.02
|
0.07
|
|||||||||
December 31, 2014
|
20.30
|
19.00
|
0.07
|
|||||||||
September 30, 2014
|
19.52
|
18.65
|
0.07
|
Maximum
|
||||||||||||||||
Total Number of
|
Number of Shares
|
|||||||||||||||
Average
|
Shares Purchased
|
That May Yet Be
|
||||||||||||||
Total Number
|
Price
|
as Part of Publicity
|
Purchased Under
|
|||||||||||||
of Shares
|
Paid per
|
Announced Plans
|
the Plans or
|
|||||||||||||
Period
|
Purchased
|
Share
|
or Programs
|
Programs (a)
|
||||||||||||
April 1, 2016 – April 30, 2016
|
8,300
|
$
|
22.06
|
8,300
|
52,568
|
|||||||||||
May 1, 2016 – May 31, 2016
|
1,014
|
22.29
|
757
|
51,811
|
||||||||||||
June 1, 2016 – June 30, 2016
|
20,000
|
21.79
|
20,000
|
31,811
|
||||||||||||
Total
|
29,314
|
$
|
21.88
|
29,057
|
31,811
|
|||||||||||
____________________________
Notes to this table:
(a) On December 9, 2015, the Company announced by press release a repurchase program to repurchase up to 102,000 shares or approximately 5.0% of the Company's outstanding shares of common stock. The repurchase program does not have an expiration date.
|
At June 30, | ||||||||||||||||||||
2016 |
2015
|
2014
|
2013 | 2012 | ||||||||||||||||
(In thousands)
|
||||||||||||||||||||
Selected Financial and Other Data:
|
||||||||||||||||||||
Total assets
|
$
|
381,701
|
$
|
369,833
|
$
|
329,529
|
$
|
277,155
|
$
|
296,183
|
||||||||||
Cash and cash equivalents
|
4,756
|
21,166
|
13,633
|
3,685
|
34,863
|
|||||||||||||||
Securities available for sale
|
50,173
|
44,885
|
48,434
|
47,961
|
68,426
|
|||||||||||||||
Securities held to maturity
|
2,349
|
2,010
|
1,765
|
1,465
|
1,381
|
|||||||||||||||
Loans held-for-sale
|
11,919
|
14,203
|
9,375
|
3,464
|
11,157
|
|||||||||||||||
Loans receivable, net
|
290,827
|
268,427
|
239,563
|
206,079
|
168,263
|
|||||||||||||||
Deposits
|
287,822
|
286,238
|
272,295
|
211,922
|
221,436
|
|||||||||||||||
Federal Home Loan Bank advances
|
47,665
|
38,411
|
12,897
|
21,662
|
23,469
|
|||||||||||||||
Total Stockholders' equity
|
43,392
|
43,386
|
42,779
|
41,982
|
49,888
|
As of or for the Year Ended June 30,
|
||||||||||||||||||||
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||||||||
(Dollars in thousands, except per share amounts)
|
||||||||||||||||||||
Selected Operating Data:
|
||||||||||||||||||||
Total interest income
|
$
|
15,458
|
$
|
14,772
|
$
|
13,173
|
$
|
13,154
|
$
|
12,722
|
||||||||||
Total interest expense
|
2,610
|
2,481
|
2,336
|
2,579
|
3,050
|
|||||||||||||||
Net interest income
|
12,848
|
12,291
|
10,837
|
10,575
|
9,672
|
|||||||||||||||
Provision for loan losses
|
271
|
300
|
168
|
558
|
856
|
|||||||||||||||
Net interest income after provision for loan losses
|
12,577
|
11,991
|
10,669
|
10,017
|
8,816
|
|||||||||||||||
Total non-interest income
|
3,254
|
2,961
|
2,340
|
3,424
|
3,324
|
|||||||||||||||
Total non-interest expense
|
10,810
|
9,936
|
8,933
|
8,683
|
8,170
|
|||||||||||||||
Income before income tax expense
|
5,021
|
5,016
|
4,076
|
4,758
|
3,970
|
|||||||||||||||
Income tax expense
|
1,644
|
1,661
|
1,332
|
1,628
|
1,127
|
|||||||||||||||
Net income
|
$
|
3,377
|
$
|
3,355
|
$
|
2,744
|
$
|
3,130
|
$
|
2,843
|
||||||||||
Earnings per share of common stock:
|
||||||||||||||||||||
Basic
|
$
|
1.80
|
$
|
1.70
|
$
|
1.33
|
$
|
1.34
|
$
|
1.02
|
||||||||||
Diluted
|
$
|
1.74
|
$
|
1.65
|
$
|
1.29
|
$
|
1.31
|
$
|
1.01
|
||||||||||
Selected Operating Ratios(1):
|
||||||||||||||||||||
Average yield on interest-earning assets
|
4.46
|
%
|
4.52
|
%
|
4.76
|
%
|
5.05
|
%
|
5.26
|
%
|
||||||||||
Average rate on interest-bearing liabilities
|
0.93
|
0.94
|
1.07
|
1.25
|
1.64
|
|||||||||||||||
Average interest rate spread(2)
|
3.53
|
3.58
|
3.69
|
3.80
|
3.62
|
|||||||||||||||
Net interest margin(2)
|
3.71
|
3.76
|
3.92
|
4.06
|
4.00
|
|||||||||||||||
Average interest-earning assets to average interest-bearing liabilities
|
123.95
|
124.37
|
126.91
|
126.77
|
130.09
|
|||||||||||||||
Net interest income after provision for loan losses to non-interest expense
|
116.35
|
120.68
|
119.43
|
115.36
|
107.91
|
|||||||||||||||
Total non-interest expense to average assets
|
2.92
|
2.84
|
3.01
|
3.14
|
3.19
|
|||||||||||||||
Efficiency ratio(3)
|
67.13
|
65.14
|
67.79
|
62.03
|
62.87
|
|||||||||||||||
Return on average assets
|
0.91
|
0.96
|
0.92
|
1.13
|
1.11
|
|||||||||||||||
Return on average equity
|
7.44
|
7.45
|
6.22
|
6.86
|
5.62
|
|||||||||||||||
Average equity to average assets
|
12.23
|
12.86
|
14.84
|
16.48
|
19.76
|
|||||||||||||||
Dividend payout ratio
|
19.53
|
18.26
|
20.08
|
20.19
|
25.57
|
As of or for the Year Ended June 30,
|
||||||||||||||||||||
2016
|
2015
|
2014
|
2013
|
2012
|
||||||||||||||||
(Dollars in thousands, except per share amounts)
|
||||||||||||||||||||
Selected Quality Ratios(4):
|
||||||||||||||||||||
Non-performing loans as a percent of total loans receivable
|
0.04
|
%
|
0.03
|
%
|
0.07
|
%
|
0.31
|
%
|
0.01
|
%
|
||||||||||
Non-performing assets as a percent of total assets
|
0.03
|
0.03
|
0.05
|
0.23
|
*
|
|||||||||||||||
Allowance for loan losses as a percent of total loans receivable
|
0.97
|
0.93
|
0.99
|
1.07
|
1.00
|
|||||||||||||||
Net charge-offs to average loans receivable
|
--
|
0.07
|
0.01
|
0.01
|
--
|
|||||||||||||||
Allowance for loan losses as a percent of non-performing loans
|
2,501.99
|
3,143.75
|
1,254.45
|
345.15
|
12,128.57
|
|||||||||||||||
Bank Capital Ratios(4):
|
||||||||||||||||||||
Tangible capital ratio
|
11.81
|
%
|
11.81
|
%
|
12.74
|
%
|
15.16
|
%
|
14.83
|
%
|
||||||||||
Core capital ratio
|
11.81
|
11.81
|
12.74
|
15.16
|
14.83
|
|||||||||||||||
Total capital ratio
|
17.77
|
18.85
|
21.35
|
25.48
|
28.99
|
|||||||||||||||
Other Data:
|
||||||||||||||||||||
Offices (branch and home)
|
7
|
6
|
5
|
5
|
5
|
|||||||||||||||
Employees (full-time)
|
55
|
58
|
46
|
47
|
39
|
*
|
Not meaningful.
|
(1)
|
With the exception of end of period ratios, all ratios are based on average monthly balances during the indicated periods.
|
(2)
|
Average interest rate spread represents the difference between the average yield on interest-earning assets and the average rate paid on interest-bearing liabilities, and net interest margin represents net interest income as a percentage of average interest-earning assets.
|
(3)
|
The efficiency ratio represents the ratio of non-interest expense divided by the sum of net interest income and non-interest income.
|
(4)
|
Asset quality ratios and capital ratios are end of period ratios, except for net charge-offs to average loans receivable.
|
●
|
Continuing to Grow and Diversify Our Loan Portfolio. We intend to grow and continue to diversify of loan portfolio by, among other things, emphasizing the origination of commercial real estate and business loans. At June 30, 2016, our commercial real estate loans amounted to $69.2 million, or 23.6% of the total loan portfolio. Our commercial business loans amounted to $27.9 million, or 9.5% of the total loan portfolio. Commercial real estate, commercial business, construction and development and consumer loans all typically have higher yields and are more interest sensitive than long-term single-family residential mortgage loans.
|
●
|
Diversify Our Products and Services. We intend to continue to emphasize our commercial business products to provide a full-service banking relationship to our commercial customers. We have introduced mobile and Internet banking and remote deposit capture, to better serve our commercial clients. Additionally, we have developed new deposit products focused on expanding our deposit base to new types of customers.
|
● |
Managing Our Expenses. We have incurred significant additional expenses related to personnel and infrastructure in recent periods as we implemented our business strategy. Our total non-interest expense increased $874,000, or 8.8%, in fiscal 2016 compared to 2015. Our efficiency ratio for 2016 was 67.1% compared to 65.1% for fiscal 2015.
|
● |
Enhancing Core Earnings. We expect to continue to emphasize commercial real estate and business loans which generally bear interest rates higher than residential real estate loans and sell a substantial part of our fixed rate residential mortgage loan originations.
|
●
|
Expanding Our Franchise in our Market Area and Contiguous Communities. We intend to continue to pursue opportunities to expand our market area by opening additional de novo banking office and possibly, through acquisitions of other financial institutions and banking related businesses (although we have no current plans, understandings or agreements with respect to any specific acquisitions). We expect to focus on contiguous areas to our current locations in Caddo and Bossier Parishes.
|
● |
Maintain Our Asset Quality. At June 30, 2016, our non-performing assets totaled $114,000, or 0.03% of total assets. We had no real estate owned at June 30, 2016. We intend to continue to stress maintaining high asset quality even as we continue to grow our institution and diversity our loan portfolio.
|
●
|
Cross-Selling Products and Services and Emphasizing Local Decision Making. We have promoted cross-selling products and services in our branch offices and emphasized our local decision making and streamlined loan approval process.
|
|
June 30,
|
|||||||||||||||||||||||
|
2016
|
2015
|
||||||||||||||||||||||
|
Average
|
Average
|
||||||||||||||||||||||
|
Average
|
Yield/
|
Average
|
Yield/
|
||||||||||||||||||||
|
Balance
|
Interest
|
Rate
|
Balance
|
Interest
|
Rate
|
||||||||||||||||||
(Dollars in thousands)
|
||||||||||||||||||||||||
Interest-earning assets:
|
||||||||||||||||||||||||
Investment securities
|
$
|
43,562
|
$
|
774
|
1.78
|
%
|
$
|
51,965
|
$
|
996
|
1.92
|
%
|
||||||||||||
Loans receivable(1)
|
287,405
|
14,628
|
5.09
|
269,408
|
13,762
|
5.11
|
||||||||||||||||||
Interest-earning deposits
|
15,604
|
56
|
0.36
|
5,585
|
14
|
0.26
|
||||||||||||||||||
Total interest-earning assets
|
346,571
|
15,458
|
4.46
|
%
|
326,958
|
14,772
|
4.52
|
%
|
||||||||||||||||
Non-interest-earning assets
|
24,110
|
23,262
|
||||||||||||||||||||||
Total assets
|
$
|
370,681
|
$
|
350,220
|
||||||||||||||||||||
Interest-bearing liabilities:
|
||||||||||||||||||||||||
Savings accounts
|
23,993
|
92
|
0.38
|
%
|
14,762
|
34
|
0.23
|
%
|
||||||||||||||||
NOW accounts
|
35,797
|
283
|
0.79
|
29,821
|
228
|
0.76
|
||||||||||||||||||
Money market accounts
|
47,953
|
149
|
0.31
|
43,770
|
141
|
0.32
|
||||||||||||||||||
Certificate accounts
|
141,160
|
1,805
|
1.28
|
133,605
|
1,831
|
1.37
|
||||||||||||||||||
Total deposits
|
248,903
|
2,329
|
0.94
|
221,958
|
2,234
|
1.01
|
||||||||||||||||||
FHLB advances and other borrowings
|
30,698
|
281
|
0.92
|
40,923
|
247
|
0.60
|
||||||||||||||||||
Total interest-bearing liabilities
|
279,601
|
2,610
|
0.93
|
%
|
262,881
|
2,481
|
0.94
|
%
|
||||||||||||||||
Non-interest-bearing liabilities:
|
||||||||||||||||||||||||
Non-interest bearing demand accounts
|
43,100
|
40,428
|
||||||||||||||||||||||
Other liabilities
|
2,590
|
1,879
|
||||||||||||||||||||||
Total liabilities
|
325,291
|
305,188
|
||||||||||||||||||||||
Total stockholders' equity(2)
|
45,390
|
45,032
|
||||||||||||||||||||||
|
||||||||||||||||||||||||
Total liabilities and equity
|
$
|
370,681
|
$
|
350,220
|
||||||||||||||||||||
|
||||||||||||||||||||||||
Net interest-earning assets
|
$
|
66,970
|
$
|
64,077
|
||||||||||||||||||||
|
||||||||||||||||||||||||
Net interest income; average interest rate spread(3)
|
$
|
12,848
|
3.53
|
%
|
$
|
12,291
|
3.58
|
%
|
||||||||||||||||
|
||||||||||||||||||||||||
Net interest margin(4)
|
3.71
|
%
|
3.76
|
%
|
||||||||||||||||||||
|
||||||||||||||||||||||||
Average interest-earning assets to average interest-bearing liabilities
|
123.95
|
%
|
124.37
|
%
|
||||||||||||||||||||
|
2016 vs. 2015
|
2015 vs. 2014
|
|||||||||||||||||||||||
Increase (Decrease)
|
Total
|
Increase (Decrease)
|
Total
|
|||||||||||||||||||||
Due to
|
Increase
|
Due to
|
Increase
|
|||||||||||||||||||||
Rate
|
Volume
|
(Decrease)
|
Rate
|
Volume
|
(Decrease)
|
|||||||||||||||||||
(In thousands)
|
||||||||||||||||||||||||
Interest income:
|
||||||||||||||||||||||||
Investment securities
|
$
|
(61
|
)
|
$
|
(161
|
)
|
$
|
(222
|
)
|
$
|
(104
|
)
|
$
|
102
|
$
|
(2
|
)
|
|||||||
Loans receivable, net
|
(54
|
)
|
920
|
866
|
(836
|
)
|
2,435
|
1,599
|
||||||||||||||||
Interest-earning deposits
|
16
|
26
|
42
|
1
|
1
|
2
|
|
|||||||||||||||||
Total interest-earning assets
|
( 99
|
)
|
785
|
686
|
(939
|
)
|
2,538
|
1,599
|
||||||||||||||||
Interest expense:
|
||||||||||||||||||||||||
Savings accounts
|
37
|
21
|
58
|
4
|
7
|
11
|
||||||||||||||||||
NOW accounts
|
10
|
45
|
55
|
(42
|
)
|
29
|
(13
|
)
|
||||||||||||||||
Money market accounts
|
(5
|
)
|
13
|
8
|
(4
|
)
|
(6
|
)
|
(10
|
)
|
||||||||||||||
Certificate accounts
|
(130
|
)
|
104
|
(26
|
)
|
(199
|
)
|
290
|
91
|
|||||||||||||||
Total deposits
|
(88
|
)
|
183
|
95
|
(241
|
)
|
320
|
79
|
||||||||||||||||
FHLB advances and other borrowings
|
95
|
(61
|
)
|
34
|
(122
|
)
|
188
|
66
|
||||||||||||||||
Total interest-bearing liabilities
|
7
|
122
|
129
|
(363
|
)
|
508
|
145
|
|||||||||||||||||
Increase (decrease) in net interest income
|
$
|
(106
|
)
|
$
|
663
|
$
|
557
|
$
|
(576
|
)
|
$
|
2,030
|
$
|
1,454
|
Change in Interest Rates in
|
Net Portfolio Value
|
NPV as % of Portfolio
Value of Assets
|
||||||||||||||||||||
Basis Points (Rate Shock)
|
Amount
|
$ Change
|
% Change
|
NPV Ratio
|
Change
|
|||||||||||||||||
(Dollars in thousands)
|
||||||||||||||||||||||
300 |
|
$
|
42,866
|
$
|
1,577
|
3.82
|
%
|
12.08
|
%
|
1.12
|
%
|
|||||||||||
200 |
|
42,985
|
1,696
|
4.11
|
11.84
|
0.88
|
||||||||||||||||
100 |
|
44,146
|
2,857
|
6.92
|
12.01
|
1.05
|
||||||||||||||||
Static
|
41,289
|
--
|
--
|
10.96
|
--
|
|||||||||||||||||
(100) |
|
|
41,390
|
101
|
0.24
|
10.80
|
(0.16
|
)
|
||||||||||||||
(200) |
|
|
41,471
|
182
|
0.44
|
10.66
|
(0.30
|
)
|
June 30,
|
||||||||
2016
|
2015
|
|||||||
(In Thousands)
|
||||||||
ASSETS
|
||||||||
Cash and Cash Equivalents (Includes Interest-Bearing
Deposits with Other Banks of $2,529 and $16,947 for 2016 and 2015, Respectively)
|
$
|
4,756
|
$
|
21,166
|
||||
Securities Available-for-Sale
|
50,173
|
44,885
|
||||||
Securities Held-to-Maturity (fair value of $2,349 and $2,010, Respectively)
|
2,349
|
2,010
|
||||||
Loans Held-for-Sale
|
11,919
|
14,203
|
||||||
Loans Receivable, Net of Allowance for Loan Losses of $2,845 and $2,515 for 2016 and 2015, Respectively
|
290,827
|
268,427
|
||||||
Accrued Interest Receivable
|
1,024
|
927
|
||||||
Premises and Equipment, Net
|
12,366
|
10,188
|
||||||
Bank Owned Life Insurance
|
6,523
|
6,365
|
||||||
Deferred Tax Asset
|
984
|
824
|
||||||
Other Real Estate Owned
|
--
|
40
|
||||||
Other Assets
|
780
|
798
|
||||||
Total Assets
|
$
|
381,701
|
$
|
369,833
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
LIABILITIES
|
||||||||
Deposits
|
$
|
287,822
|
$
|
286,238
|
||||
Advances from Borrowers for Taxes and Insurance
|
716
|
578
|
||||||
Advances from Federal Home Loan Bank of Dallas
|
47,665
|
38,411
|
||||||
Other Bank Borrowings
|
400
|
--
|
||||||
Other Accrued Expenses and Liabilities
|
1,706
|
1,220
|
||||||
Total Liabilities
|
338,309
|
326,447
|
||||||
STOCKHOLDERS' EQUITY
|
||||||||
Preferred Stock – $.01 Par Value; 10,000,000 Shares Authorized; None Issued and Outstanding
|
--
|
--
|
||||||
Common Stock – $.01 Par Value; 40,000,000 Shares
Authorized; 1,967,955 and 2,109,606 Shares Issued and Outstanding at June 30, 2016 and 2015, Respectively
|
23
|
25
|
||||||
Additional Paid-in Capital
|
33,863
|
33,375
|
||||||
Unearned ESOP Stock
|
(1,331
|
)
|
(1,445
|
)
|
||||
Unearned RRP Trust Stock
|
(265
|
)
|
(333
|
)
|
||||
Retained Earnings
|
11,018
|
11,664
|
||||||
Accumulated Other Comprehensive Income
|
84
|
100
|
||||||
Total Stockholders' Equity
|
43,392
|
43,386
|
||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
|
$
|
381,701
|
$
|
369,833
|
For the Years Ended June 30,
|
||||||||
2016
|
2015
|
|||||||
(In Thousands, Except Per Share Data)
|
||||||||
INTEREST INCOME
|
||||||||
Loans, Including Fees
|
$
|
14,628
|
$
|
13,762
|
||||
Mortgage-Backed Securities
|
763
|
989
|
||||||
Investment Securities
|
11
|
7
|
||||||
Other Interest-Earning Assets
|
56
|
14
|
||||||
Total Interest Income
|
15,458
|
14,772
|
||||||
INTEREST EXPENSE
|
||||||||
Deposits
|
2,329
|
2,234
|
||||||
Federal Home Loan Bank Borrowings
|
263
|
244
|
||||||
Other Borrowings
|
18
|
3
|
||||||
Total Interest Expense
|
2,610
|
2,481
|
||||||
Net Interest Income
|
12,848
|
12,291
|
||||||
PROVISION FOR LOAN LOSSES
|
271
|
300
|
||||||
Net Interest Income after Provision for Loan Losses
|
12,577
|
11,991
|
||||||
NON-INTEREST INCOME
|
||||||||
Gain on Sale of Loans
|
2,492
|
2,278
|
||||||
Gain on Sale of Securities
|
--
|
10
|
||||||
Income on Bank Owned Life Insurance
|
157
|
163
|
||||||
Service Charges on Deposit Accounts
|
559
|
456
|
||||||
Other Income
|
46
|
54
|
||||||
Total Non-Interest Income
|
3,254
|
2,961
|
||||||
NON-INTEREST EXPENSE
|
||||||||
Compensation and Benefits
|
6,814
|
6,261
|
||||||
Occupancy and Equipment
|
1,091
|
1,050
|
||||||
Franchise and Bank Shares Tax
|
349
|
265
|
||||||
Advertising
|
236
|
249
|
||||||
Data Processing
|
562
|
527
|
||||||
Audit and Examination Fees
|
246
|
216
|
||||||
Legal Fees
|
412
|
330
|
||||||
Loan and Collection Expense
|
281
|
332
|
||||||
Deposit Insurance Premiums
|
207
|
164
|
||||||
Other Expenses
|
612
|
542
|
||||||
Total Non-Interest Expense
|
10,810
|
9,936
|
||||||
Income Before Income Taxes
|
5,021
|
5,016
|
||||||
PROVISION FOR INCOME TAX EXPENSE
|
1,644
|
1,661
|
||||||
Net Income
|
$
|
3,377
|
$
|
3,355
|
||||
EARNINGS PER SHARE:
|
||||||||
Basic
|
$
|
1.80
|
$
|
1.70
|
||||
Diluted
|
$
|
1.74
|
$
|
1.65
|
For the Years Ended June 30,
|
||||||||
|
2016
|
2015
|
||||||
(In Thousands)
|
||||||||
Net Income
|
$
|
3,377
|
$
|
3,355
|
||||
Other Comprehensive Loss, Net of Tax
|
||||||||
Unrealized Holding Loss Arising During the Period
|
(16
|
)
|
(35
|
)
|
||||
Reclassification Adjustment for Gains Included in Net Income
|
--
|
(37
|
)
|
|||||
Total Other Comprehensive Loss
|
(16
|
)
|
(72
|
)
|
||||
Total Comprehensive Income
|
$
|
3,361
|
$
|
3,283
|
|
Common
Stock
|
Additional
Paid-In
Capital
|
Treasury
Stock
|
Unearned
ESOP
Stock
|
Unearned
RRP Trust
Stock
|
Retained
Earnings
|
Accumulated
Other
Comprehensive
Income (Loss)
|
Total
Stockholders'
Equity
|
||||||||||||||||||||||||
(In Thousands)
|
||||||||||||||||||||||||||||||||
BALANCE – June 30, 2014
|
$
|
34
|
$
|
32,853
|
$
|
(15,698
|
)
|
$
|
(1,561
|
)
|
$
|
(609
|
)
|
$
|
27,588
|
$
|
172
|
$
|
42,779
|
|||||||||||||
ESOP Compensation Earned
|
--
|
109
|
--
|
116
|
--
|
--
|
--
|
225
|
||||||||||||||||||||||||
Stock Options Exercised
|
--
|
235
|
--
|
--
|
--
|
--
|
--
|
235
|
||||||||||||||||||||||||
Distribution of RRP Trust Stock
|
--
|
--
|
--
|
--
|
276
|
--
|
--
|
276
|
||||||||||||||||||||||||
Dividends Paid
|
--
|
--
|
--
|
--
|
--
|
(613
|
)
|
--
|
(613
|
)
|
||||||||||||||||||||||
Stock Options Vested
|
--
|
178
|
--
|
--
|
--
|
--
|
--
|
178
|
||||||||||||||||||||||||
Company Stock Purchased
|
--
|
--
|
(2,977
|
)
|
--
|
--
|
--
|
--
|
(2,977
|
)
|
||||||||||||||||||||||
Net Income
|
--
|
--
|
--
|
--
|
--
|
3,355
|
--
|
3,355
|
||||||||||||||||||||||||
Other Comprehensive Loss,
Net of Applicable Deferred
Income Taxes
|
--
|
--
|
--
|
--
|
--
|
--
|
(72
|
)
|
(72
|
)
|
||||||||||||||||||||||
Reclassification of Treasury Stock
|
(9
|
)
|
--
|
18,675
|
--
|
--
|
(18,666
|
)
|
--
|
--
|
||||||||||||||||||||||
BALANCE - June 30, 2015
|
$
|
25
|
$
|
33,375
|
$
|
--
|
$
|
(1,445
|
)
|
$
|
(333
|
)
|
$
|
11,664
|
$
|
100
|
$
|
43,386
|
||||||||||||||
ESOP Compensation Earned
|
--
|
144
|
--
|
114
|
--
|
--
|
--
|
258
|
||||||||||||||||||||||||
Stock Options Exercised
|
--
|
96
|
--
|
--
|
--
|
--
|
--
|
96
|
||||||||||||||||||||||||
Distribution of RRP Trust Stock
|
--
|
36
|
--
|
--
|
68
|
--
|
--
|
104
|
||||||||||||||||||||||||
Dividends Paid
|
--
|
--
|
--
|
--
|
--
|
(660
|
)
|
--
|
(660
|
)
|
||||||||||||||||||||||
Stock Options Vested
|
--
|
212
|
--
|
--
|
--
|
--
|
--
|
212
|
||||||||||||||||||||||||
Company Stock Purchased
|
(2
|
)
|
--
|
--
|
--
|
--
|
(3,363
|
)
|
--
|
(3,365
|
)
|
|||||||||||||||||||||
Net Income
|
--
|
--
|
--
|
--
|
--
|
3,377
|
--
|
3,377
|
||||||||||||||||||||||||
Other Comprehensive Loss,
Net of Applicable Deferred
Income Taxes
|
--
|
--
|
--
|
--
|
--
|
--
|
(16
|
)
|
(16
|
)
|
||||||||||||||||||||||
BALANCE - June 30, 2016
|
$
|
23
|
$
|
33,863
|
$
|
--
|
$
|
(1,331
|
)
|
$
|
(265
|
)
|
$
|
11,018
|
$
|
84
|
$
|
43,392
|
||||||||||||||
For the Years Ended June 30,
|
||||||||
2016
|
2015
|
|||||||
(In Thousands)
|
||||||||
CASH FLOWS FROM OPERATING ACTIVITIES
|
||||||||
Net Income
|
$
|
3,377
|
$
|
3,355
|
||||
Adjustments to Reconcile Net Income to Net
|
||||||||
Cash Provided By (Used In) Operating Activities
|
||||||||
Gain on Sale of Loans
|
(2,492
|
)
|
(2,278
|
)
|
||||
Net Amortization and Accretion on Securities
|
18
|
67
|
||||||
Amortization of Deferred Loan Fees
|
(72
|
)
|
(140
|
)
|
||||
Provision for Loan Losses
|
271
|
300
|
||||||
Depreciation of Premises and Equipment
|
441
|
384
|
||||||
Gain on Sale of Securities
|
--
|
(10
|
)
|
|||||
ESOP Compensation Expense
|
258
|
225
|
||||||
Deferred Income Tax Benefit
|
(151
|
)
|
(64
|
)
|
||||
Stock Option Expense
|
212
|
178
|
||||||
Recognition and Retention Plan Expense
|
232
|
235
|
||||||
Increase in Cash Surrender Value on Bank Owned Life Insurance
|
(157
|
)
|
(163
|
)
|
||||
Bad Debt Recovery
|
59
|
--
|
||||||
Share Awards Expense
|
92
|
--
|
||||||
Changes in Assets and Liabilities:
|
||||||||
Origination and Purchase of Loans Held-for-Sale
|
(99,012
|
)
|
(91,633
|
)
|
||||
Sale and Principal Repayments on Loans Held-for-Sale
|
103,787
|
89,084
|
||||||
Accrued Interest Receivable
|
(97
|
)
|
38
|
|||||
Other Operating Assets
|
57
|
(424
|
)
|
|||||
Other Operating Liabilities
|
229
|
130
|
||||||
Net Cash Provided By (Used In) Operating Activities
|
7,052
|
(716
|
)
|
|||||
CASH FLOWS FROM INVESTING ACTIVITIES
|
||||||||
Loan Originations and Principal Collections, Net
|
(22,706
|
)
|
(29,052
|
)
|
||||
Deferred Loan Fees Collected
|
48
|
29
|
||||||
Acquisition of Premises and Equipment
|
(2,620
|
)
|
(2,117
|
)
|
||||
Activity in Available-for-Sale Securities:
|
||||||||
Proceeds from Sales of Securities
|
--
|
1,963
|
||||||
Principal Payments on Mortgage-Backed Securities
|
11,392
|
11,263
|
||||||
Purchases
|
(16,722
|
)
|
(9,843
|
)
|
||||
Activity in Held-to-Maturity Securities:
|
||||||||
Redemption Proceeds
|
509
|
698
|
||||||
Purchases
|
(848
|
)
|
(943
|
)
|
||||
Net Cash Used in Investing Activities
|
(30,947
|
)
|
(28,002
|
)
|
||||
For the Years Ended June 30,
|
||||||||
2016
|
2015
|
|||||||
(In Thousands)
|
||||||||
CASH FLOWS FROM FINANCING ACTIVITIES
|
||||||||
Net Increase in Deposits
|
$
|
1,584
|
$
|
13,943
|
||||
Proceeds from Advances from Federal Home Loan Bank
|
703,700
|
809,800
|
||||||
Repayments of Advances from Federal Home Loan Bank
|
(694,446
|
)
|
(784,286
|
)
|
||||
Dividends Paid
|
(660
|
)
|
(613
|
)
|
||||
Company Stock Purchased
|
(3,353
|
)
|
(2,923
|
)
|
||||
Net Decrease in Advances from Borrowers for Taxes and Insurance
|
139
|
150
|
||||||
Proceeds from Other Bank Borrowings
|
2,200
|
550
|
||||||
Repayment of Other Bank Borrowings
|
(1,800
|
)
|
(550
|
)
|
||||
Proceeds from Stock Options Exercised
|
85
|
180
|
||||||
Recognition and Retention Plan Share Distributions
|
36
|
--
|
||||||
Net Cash Provided by Financing Activities
|
7,485
|
36,251
|
||||||
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS
|
(16,410
|
)
|
7,533
|
|||||
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
|
21,166
|
13,633
|
||||||
CASH AND CASH EQUIVALENTS, END OF YEAR
|
$
|
4,756
|
$
|
21,166
|
||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
|
||||||||
Interest Paid on Deposits and Borrowed Funds
|
$
|
2,612
|
$
|
2,459
|
||||
Income Taxes Paid
|
1,762
|
1,584
|
||||||
Market Value Adjustment for Loss on Securities
|
(24
|
) |
(109
|
)
|
||||
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
2016
|
2015
|
|||||||
(In Thousands)
|
||||||||
Cash on Hand
|
$
|
2,027
|
$
|
791
|
||||
Demand Deposits at Other Institutions
|
2,529
|
4,475
|
||||||
Federal Funds Sold
|
200
|
15,900
|
||||||
Total
|
$
|
4,756
|
$
|
21,166
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Note 1. | Summary of Significant Accounting Policies (Continued) |
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
2016
|
2015
|
|||||||
(In Thousands)
|
||||||||
Unrealized Holding Loss on Available-for-Sale Securities
|
$
|
(24
|
)
|
$
|
(99
|
)
|
||
Reclassification Adjustment for Gain Realized in Income
|
--
|
(10
|
)
|
|||||
Net Unrealized Loss
|
(24
|
)
|
(109
|
)
|
||||
Tax Effect
|
8
|
37
|
||||||
Net-of-Tax Amount
|
$
|
(16
|
)
|
$
|
(72
|
)
|
2016
|
2015
|
|||||||
(In Thousands)
|
||||||||
Net Unrealized Gain on Securities Available-for-Sale
|
$
|
128
|
$
|
152
|
||||
Tax Effect
|
(44
|
)
|
(52
|
)
|
||||
Net-of-Tax Amount
|
$
|
84
|
$
|
100
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
June 30, 2016
|
||||||||||||||||
Gross
|
Gross
|
|||||||||||||||
Amortized
|
Unrealized
|
Unrealized
|
Fair
|
|||||||||||||
Securities Available-for-Sale
|
Cost
|
Gains
|
Losses
|
Value
|
||||||||||||
(In Thousands)
|
||||||||||||||||
Debt Securities
|
||||||||||||||||
FHLMC Mortgage-Backed Certificates
|
$
|
10,928
|
$
|
12
|
$
|
147
|
$
|
10,793
|
||||||||
FNMA Mortgage-Backed Certificates
|
26,610
|
613
|
--
|
27,223
|
||||||||||||
GNMA Mortgage-Backed Certificates
|
12,507
|
4
|
354
|
12,157
|
||||||||||||
Total Debt Securities
|
50,045
|
629
|
501
|
50,173
|
||||||||||||
Total Securities Available-for-Sale
|
$
|
50,045
|
$
|
629
|
$
|
501
|
$
|
50,173
|
||||||||
Securities Held-to-Maturity
|
||||||||||||||||
Equity Securities (Non-Marketable)
|
||||||||||||||||
20,989 Shares – Federal Home Loan Bank
|
$
|
2,099
|
$
|
--
|
$
|
--
|
$
|
2,099
|
||||||||
630 Shares – First National Bankers Bankshares, Inc.
|
250
|
--
|
--
|
250
|
||||||||||||
Total Equity Securities
|
2,349
|
--
|
--
|
2,349
|
||||||||||||
Total Securities Held-to-Maturity
|
$
|
2,349
|
$
|
--
|
$
|
--
|
$
|
2,349
|
June 30, 2015
|
||||||||||||||||
Gross
|
Gross
|
|||||||||||||||
Amortized
|
Unrealized
|
Unrealized
|
Fair
|
|||||||||||||
Securities Available-for-Sale
|
Cost
|
Gains
|
Losses
|
Value
|
||||||||||||
(In Thousands)
|
||||||||||||||||
Debt Securities
|
||||||||||||||||
FHLMC Mortgage-Backed Certificates
|
$
|
267
|
$
|
17
|
$
|
--
|
$
|
284
|
||||||||
FNMA Mortgage-Backed Certificates
|
27,263
|
605
|
61
|
27,807
|
||||||||||||
GNMA Mortgage-Backed Certificates
|
17,203
|
5
|
414
|
16,794
|
||||||||||||
Total Debt Securities
|
44,733
|
627
|
475
|
44,885
|
||||||||||||
Total Securities Available-for-Sale
|
$
|
44,733
|
$
|
627
|
$
|
475
|
$
|
44,885
|
||||||||
Securities Held-to-Maturity
|
||||||||||||||||
Equity Securities (Non-Marketable)
|
||||||||||||||||
17,600 Shares – Federal Home Loan Bank
|
$
|
1,760
|
$
|
--
|
$
|
--
|
$
|
1,760
|
||||||||
630 Shares – First National Bankers Bankshares, Inc.
|
250
|
--
|
--
|
250
|
||||||||||||
Total Equity Securities
|
2,010
|
--
|
--
|
2,010
|
||||||||||||
Total Securities Held-to-Maturity
|
$
|
2,010
|
$
|
--
|
$
|
--
|
$
|
2,010
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Available-for-Sale
|
Held-to-Maturity
|
|||||||||||||||
Amortized
|
Fair
|
Amortized
|
Fair
|
|||||||||||||
Cost
|
Value
|
Cost
|
Value
|
|||||||||||||
(In Thousands)
|
||||||||||||||||
Within One Year or Less
|
$
|
1
|
$
|
1
|
$
|
--
|
$
|
--
|
||||||||
One through Five Years
|
121
|
123
|
--
|
--
|
||||||||||||
After Five through Ten Years
|
57
|
59
|
--
|
--
|
||||||||||||
Over Ten Years
|
49,866
|
49,990
|
--
|
--
|
||||||||||||
50,045
|
50,173
|
--
|
--
|
|||||||||||||
Other Equity Securities
|
--
|
--
|
2,349
|
2,349
|
||||||||||||
Total
|
$
|
50,045
|
$
|
50,173
|
$
|
2,349
|
$
|
2,349
|
June 30, 2016
|
||||||||||||||||
Less Than Twelve Months
|
Over Twelve Months
|
|||||||||||||||
Gross
|
Gross
|
|||||||||||||||
Unrealized
|
Fair
|
Unrealized
|
Fair
|
|||||||||||||
Losses
|
Value
|
Losses
|
Value
|
|||||||||||||
(In Thousands)
|
||||||||||||||||
Securities Available-for-Sale
|
||||||||||||||||
Debt Securities
|
||||||||||||||||
Mortgage-Backed Securities
|
$
|
147
|
$
|
17,852
|
$
|
354
|
$
|
12,066
|
||||||||
Marketable Equity Securities
|
--
|
--
|
--
|
--
|
||||||||||||
Total Securities Available-for-Sale
|
$
|
147
|
$
|
17,852
|
$
|
354
|
$
|
12,066
|
June 30, 2015
|
||||||||||||||||
Less Than Twelve Months
|
Over Twelve Months
|
|||||||||||||||
Gross
|
Gross
|
|||||||||||||||
Unrealized
|
Fair
|
Unrealized
|
Fair
|
|||||||||||||
Losses
|
Value
|
Losses
|
Value
|
|||||||||||||
(In Thousands)
|
||||||||||||||||
Securities Available-for-Sale
|
||||||||||||||||
Debt Securities
|
||||||||||||||||
Mortgage-Backed Securities
|
$
|
61
|
$
|
10,345
|
$
|
414
|
$
|
16,683
|
||||||||
Marketable Equity Securities
|
--
|
--
|
--
|
--
|
||||||||||||
Total Securities Available-for-Sale
|
$
|
61
|
$
|
10,345
|
$
|
414
|
$
|
16,683
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Note 3. | Loans Receivable |
|
2016
|
2015
|
||||||
(In Thousands)
|
||||||||
Loans Secured by Mortgages on Real Estate
|
||||||||
One- to Four-Family Residential
|
$
|
118,035
|
$
|
103,332
|
||||
Commercial
|
69,197
|
62,080
|
||||||
Multi-Family Residential
|
20,661
|
15,246
|
||||||
Land
|
24,308
|
19,866
|
||||||
Construction
|
14,442
|
17,620
|
||||||
Equity and Second Mortgage
|
1,526
|
2,460
|
||||||
Equity Lines of Credit
|
17,290
|
22,187
|
||||||
Total Mortgage Loans
|
265,459
|
242,791
|
||||||
Commercial Loans
|
27,886
|
28,019
|
||||||
Consumer Loans
|
||||||||
Loans on Savings Accounts
|
404
|
209
|
||||||
Automobile and Other Consumer Loans
|
86
|
110
|
||||||
Total Consumer and Other Loans
|
490
|
319
|
||||||
Total Loans
|
293,835
|
271,129
|
||||||
Less: Allowance for Loan Losses
|
(2,845
|
)
|
(2,515
|
)
|
||||
Unamortized Loan Fees
|
(163
|
)
|
(187
|
)
|
||||
Net Loans Receivable
|
$
|
290,827
|
$
|
268,427
|
|
2016
|
2015
|
||||||
(In Thousands)
|
||||||||
Balance - Beginning of Year
|
$
|
2,515
|
$
|
2,396
|
||||
Provision for Loan Losses
|
271
|
300
|
||||||
Recoveries
|
59
|
--
|
||||||
Loan Charge-Offs
|
--
|
(181
|
)
|
|||||
Balance - End of Year
|
$
|
2,845
|
$
|
2,515
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Under
|
Over One
|
Over Five
|
Over
|
|||||||||||||||||
One
|
to Five
|
to Ten
|
Ten
|
|||||||||||||||||
|
Year
|
Years
|
Years
|
Years
|
Total
|
|||||||||||||||
|
(In Thousands)
|
|||||||||||||||||||
Loans Secured by One- to Four-Family Residential
|
||||||||||||||||||||
Fixed Rate
|
$
|
6,908
|
$
|
40,951
|
$
|
4,386
|
$
|
44,436
|
$
|
96,681
|
||||||||||
Adjustable Rate
|
894
|
3,042
|
1,501
|
15,917
|
21,354
|
|||||||||||||||
Other Loans Secured by Real Estate
|
||||||||||||||||||||
Fixed Rate
|
54,321
|
52,285
|
33,362
|
7,457
|
147,425
|
|||||||||||||||
All Other Loans
|
11,813
|
15,944
|
618
|
--
|
28,375
|
|||||||||||||||
Total
|
$
|
73,936
|
$
|
112,222
|
$
|
39,867
|
$
|
67,810
|
$
|
293,835
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
June 30, 2016
|
Pass
|
Special
Mention
|
Substandard
|
Doubtful
|
Total
|
|||||||||||||||
(In Thousands)
|
||||||||||||||||||||
Real Estate Loans:
|
||||||||||||||||||||
One- to Four-Family Residential
|
$
|
117,881
|
$
|
40
|
$
|
114
|
$
|
--
|
$
|
118,035
|
||||||||||
Commercial
|
68,899
|
30
|
268
|
--
|
69,197
|
|||||||||||||||
Multi-Family Residential
|
20,661
|
--
|
--
|
--
|
20,661
|
|||||||||||||||
Land
|
23,753
|
555
|
--
|
--
|
24,308
|
|||||||||||||||
Construction
|
14,442
|
--
|
--
|
--
|
14,442
|
|||||||||||||||
Equity and Second Mortgage
|
1,526
|
--
|
--
|
--
|
1,526
|
|||||||||||||||
Equity Lines of Credit
|
17,290
|
--
|
--
|
--
|
17,290
|
|||||||||||||||
Commercial Loans
|
25,896
|
--
|
1,990
|
--
|
27,886
|
|||||||||||||||
Consumer Loans
|
490
|
--
|
--
|
--
|
490
|
|||||||||||||||
Total
|
$
|
290,838
|
$
|
625
|
$
|
2,372
|
$
|
--
|
$
|
293,835
|
||||||||||
June 30, 2015
|
Pass
|
Special
Mention
|
Substandard
|
Doubtful
|
Total
|
|||||||||||||||
(In Thousands)
|
||||||||||||||||||||
Real Estate Loans:
|
||||||||||||||||||||
One- to Four-Family Residential
|
$
|
103,207
|
$
|
112
|
$
|
13
|
$
|
--
|
$
|
103,332
|
||||||||||
Commercial
|
61,542
|
538
|
--
|
--
|
62,080
|
|||||||||||||||
Multi-Family Residential
|
15,246
|
--
|
--
|
--
|
15,246
|
|||||||||||||||
Land
|
19,866
|
--
|
--
|
--
|
19,866
|
|||||||||||||||
Construction
|
17,620
|
--
|
--
|
--
|
17,620
|
|||||||||||||||
Equity and Second Mortgage
|
2,460
|
--
|
--
|
--
|
2,460
|
|||||||||||||||
Equity Lines of Credit
|
22,163
|
--
|
24
|
--
|
22,187
|
|||||||||||||||
Commercial Loans
|
28,019
|
--
|
--
|
--
|
28,019
|
|||||||||||||||
Consumer Loans
|
319
|
--
|
--
|
--
|
319
|
|||||||||||||||
Total
|
$
|
270,442
|
$
|
650
|
$
|
37
|
$
|
--
|
$
|
271,129
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
June 30, 2016
|
30-59 Days
Past Due
|
60-89 Days
Past Due
|
90 Days or
More
|
Total
Past Due
|
Current
|
Total Loans
Receivable
|
Recorded
Investment
> 90 Days
and Accruing
|
|||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
Real Estate Loans:
|
||||||||||||||||||||||||||||
One- to Four-Family
Residential
|
$
|
2,646
|
$
|
1,674
|
$
|
114
|
$
|
4,434
|
$
|
113,601
|
$
|
118,035
|
$
|
101
|
||||||||||||||
Commercial
|
--
|
--
|
--
|
--
|
69,197
|
69,197
|
--
|
|||||||||||||||||||||
Multi-Family
Residential
|
--
|
--
|
--
|
--
|
20,661
|
20,661
|
--
|
|||||||||||||||||||||
Land
|
--
|
555
|
--
|
555
|
23,753
|
24,308
|
--
|
|||||||||||||||||||||
Construction
|
--
|
--
|
--
|
--
|
14,442
|
14,442
|
--
|
|||||||||||||||||||||
Equity and Second
Mortgage
|
--
|
--
|
--
|
--
|
1,526
|
1,526
|
--
|
|||||||||||||||||||||
Equity Lines of Credit
|
78
|
15
|
--
|
93
|
17,197
|
17,290
|
--
|
|||||||||||||||||||||
Commercial Loans
|
--
|
--
|
--
|
--
|
27,886
|
27,886
|
--
|
|||||||||||||||||||||
Consumer Loans
|
--
|
--
|
--
|
--
|
490
|
490
|
--
|
|||||||||||||||||||||
Total
|
$
|
2,724
|
$
|
2,244
|
$
|
114
|
$
|
5,082
|
$
|
288,753
|
$
|
293,835
|
$
|
101
|
June 30, 2015
|
30-59 Days
Past Due
|
60-89 Days
Past Due
|
90 Days or
More
|
Total
Past Due
|
Current
|
Total Loans
Receivable
|
Recorded
Investment
> 90 Days
and Accruing
|
|||||||||||||||||||||
(In Thousands)
|
||||||||||||||||||||||||||||
Real Estate Loans:
|
||||||||||||||||||||||||||||
One- to Four-Family
Residential
|
$
|
2,137
|
$
|
1,100
|
$
|
80
|
$
|
3,317
|
$
|
100,015
|
$
|
103,332
|
$
|
67
|
||||||||||||||
Commercial
|
--
|
--
|
--
|
--
|
62,080
|
62,080
|
--
|
|||||||||||||||||||||
Multi-Family
Residential
|
--
|
--
|
--
|
--
|
15,246
|
15,246
|
--
|
|||||||||||||||||||||
Land
|
--
|
--
|
--
|
--
|
19,866
|
19,866
|
--
|
|||||||||||||||||||||
Construction
|
--
|
--
|
--
|
--
|
17,620
|
17,620
|
--
|
|||||||||||||||||||||
Equity and Second
Mortgage
|
--
|
--
|
--
|
--
|
2,460
|
2,460
|
--
|
|||||||||||||||||||||
Equity Lines of Credit
|
--
|
--
|
--
|
--
|
22,187
|
22,187
|
--
|
|||||||||||||||||||||
Commercial Loans
|
--
|
--
|
--
|
--
|
28,019
|
28,019
|
--
|
|||||||||||||||||||||
Consumer Loans
|
3
|
--
|
--
|
3
|
316
|
319
|
--
|
|||||||||||||||||||||
Total
|
$
|
2,140
|
$
|
1,100
|
$
|
80
|
$
|
3,320
|
$
|
267,809
|
$
|
271,129
|
$
|
67
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Real Estate Loans
|
||||||||||||||||||||||||||||||||||||
June 30, 2016
|
Residential
|
Commercial
|
Multi-
Family
|
Land
|
Construction
|
Other
|
Commercial
Loans
|
Consumer
Loans
|
Total
|
|||||||||||||||||||||||||||
(In Thousands)
|
||||||||||||||||||||||||||||||||||||
Allowance for loan losses:
|
||||||||||||||||||||||||||||||||||||
Beginning Balances
|
$
|
1,195
|
$
|
415
|
$
|
103
|
$
|
154
|
$
|
146
|
$
|
192
|
$
|
305
|
$
|
5
|
$
|
2,515
|
||||||||||||||||||
Charge-Offs
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
|||||||||||||||||||||||||||
Recoveries
|
59
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
59
|
|||||||||||||||||||||||||||
Current Provision
|
263
|
(94
|
)
|
8
|
47
|
(20
|
)
|
(75
|
)
|
139
|
3
|
271
|
||||||||||||||||||||||||
Ending Balances
|
$
|
1,517
|
$
|
321
|
$
|
111
|
$
|
201
|
$
|
126
|
$
|
117
|
$
|
444
|
$
|
8
|
$
|
2,845
|
||||||||||||||||||
Evaluated for Impairment:
|
||||||||||||||||||||||||||||||||||||
Individually
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
|||||||||||||||||||||||||||
Collectively
|
1,517
|
321
|
111
|
201
|
126
|
117
|
444
|
8
|
2,845
|
|||||||||||||||||||||||||||
Loans Receivable:
|
||||||||||||||||||||||||||||||||||||
Ending Balances – Total
|
$
|
118,035
|
$
|
69,197
|
$
|
20,661
|
$
|
24,308
|
$
|
14,442
|
$
|
18,816
|
$
|
27,886
|
$
|
490
|
$
|
293,835
|
||||||||||||||||||
Ending Balances:
|
||||||||||||||||||||||||||||||||||||
Evaluated for Impairment:
|
||||||||||||||||||||||||||||||||||||
Individually
|
154
|
298
|
--
|
555
|
--
|
--
|
1,990
|
--
|
2,997
|
|||||||||||||||||||||||||||
Collectively
|
$
|
117,881
|
$
|
68,899
|
$
|
20,661
|
$
|
23,753
|
$
|
14,442
|
$
|
18,816
|
$
|
25,896
|
$
|
490
|
$
|
290,838
|
Real Estate Loans
|
||||||||||||||||||||||||||||||||||||
June 30, 2015
|
Residential
|
Commercial
|
Multi-
Family
|
Land
|
Construction
|
Other
|
Commercial
Loans
|
Consumer
Loans
|
Total
|
|||||||||||||||||||||||||||
(In Thousands)
|
||||||||||||||||||||||||||||||||||||
Allowance for loan losses:
|
||||||||||||||||||||||||||||||||||||
Beginning Balances
|
$
|
1,224
|
$
|
464
|
$
|
128
|
$
|
168
|
$
|
105
|
$
|
99
|
$
|
202
|
$
|
6
|
$
|
2,396
|
||||||||||||||||||
Charge-Offs
|
(181
|
)
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
(181
|
)
|
|||||||||||||||||||||||||
Recoveries
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
|||||||||||||||||||||||||||
Current Provision
|
152
|
(49
|
)
|
(25
|
)
|
(14
|
)
|
41
|
93
|
103
|
(1
|
)
|
300
|
|||||||||||||||||||||||
Ending Balances
|
$
|
1,195
|
$
|
415
|
$
|
103
|
$
|
154
|
$
|
146
|
$
|
192
|
$
|
305
|
$
|
5
|
$
|
2,515
|
||||||||||||||||||
Evaluated for Impairment:
|
||||||||||||||||||||||||||||||||||||
Individually
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
--
|
|||||||||||||||||||||||||||
Collectively
|
1,195
|
415
|
103
|
154
|
146
|
192
|
305
|
5
|
2,515
|
|||||||||||||||||||||||||||
Loans Receivable:
|
||||||||||||||||||||||||||||||||||||
Ending Balances - Total
|
$
|
103,332
|
$
|
62,080
|
$
|
15,246
|
$
|
19,866
|
$
|
17,620
|
$
|
24,647
|
$
|
28,019
|
$
|
319
|
$
|
271,129
|
||||||||||||||||||
Ending Balances:
|
||||||||||||||||||||||||||||||||||||
Evaluated for Impairment:
|
||||||||||||||||||||||||||||||||||||
Individually
|
125
|
537
|
--
|
--
|
--
|
25
|
--
|
--
|
687
|
|||||||||||||||||||||||||||
Collectively
|
$
|
103,207
|
$
|
61,543
|
$
|
15,246
|
$
|
19,866
|
$
|
17,620
|
$
|
24,622
|
$
|
28,019
|
$
|
319
|
$
|
270,442
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
June 30, 2016
|
Unpaid
Principal Balance
|
Recorded
Investment
With No
Allowance
|
Recorded
Investment
With
Allowance
|
Total
Recorded
Investment
|
Related
Allowance
|
Average
Recorded
Investment
|
||||||||||||||||||
(In Thousands)
|
||||||||||||||||||||||||
Real Estate Loans:
|
||||||||||||||||||||||||
One- to Four-Family Residential
|
$
|
154
|
$
|
154
|
$
|
--
|
$
|
154
|
$
|
--
|
$
|
162
|
||||||||||||
Commercial
|
298
|
298
|
--
|
298
|
--
|
274
|
||||||||||||||||||
Multi-Family Residential
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||
Land
|
555
|
555
|
--
|
555
|
--
|
586
|
||||||||||||||||||
Construction
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||
Equity and Second Mortgage
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||
Equity Lines of Credit
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||
Commercial Loans
|
1,990
|
1,990
|
--
|
1,990
|
--
|
2,460
|
||||||||||||||||||
Consumer Loans
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||
Total
|
$
|
2,997
|
$
|
2,997
|
$
|
--
|
$
|
2,997
|
$
|
--
|
$
|
3,482
|
June 30, 2015
|
Unpaid
Principal
Balance
|
Recorded
Investment
With No
Allowance
|
Recorded
Investment
With
Allowance
|
Total
Recorded
Investment
|
Related
Allowance
|
Average
Recorded
Investment
|
||||||||||||||||||
(In Thousands)
|
||||||||||||||||||||||||
Real Estate Loans:
|
||||||||||||||||||||||||
One- to Four-Family Residential
|
$
|
125
|
$
|
125
|
$
|
--
|
$
|
125
|
$
|
--
|
$
|
133
|
||||||||||||
Commercial
|
537
|
537
|
--
|
537
|
--
|
556
|
||||||||||||||||||
Multi-Family Residential
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||
Land
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||
Construction
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||
Equity and Second Mortgage
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||
Equity Lines of Credit
|
25
|
25
|
--
|
25
|
--
|
25
|
||||||||||||||||||
Commercial Loans
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||
Consumer Loans
|
--
|
--
|
--
|
--
|
--
|
--
|
||||||||||||||||||
Total
|
$
|
687
|
$
|
687
|
$
|
--
|
$
|
687
|
$
|
--
|
$
|
714
|
June 30, 2016
|
Number of
Contracts
|
Pre-Modification
Recorded
Investment
|
Post-Modification
Recorded Investment
|
|||||||||
Troubled Debt Restructurings
|
9
|
$
|
1,990
|
$
|
1,990
|
|||||||
Troubled Debt Restructurings
that Subsequently Defaulted
|
--
|
$
|
--
|
$
|
--
|
|||||||
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
2016
|
2015
|
|||||||
(In Thousands)
|
||||||||
Real Estate Loans:
|
||||||||
One- to Four-Family Residential
|
$
|
13
|
$
|
13
|
||||
Commercial
|
--
|
--
|
||||||
Multi-Family Residential
|
--
|
--
|
||||||
Land
|
--
|
--
|
||||||
Construction
|
--
|
--
|
||||||
Equity and Second Mortgage
|
--
|
--
|
||||||
Equity Lines of Credit
|
--
|
--
|
||||||
Commercial Loans
|
1,990
|
--
|
||||||
Consumer Loans
|
--
|
--
|
||||||
Total
|
$
|
2,003
|
$
|
13
|
Note 4. | Accrued Interest Receivable |
2016
|
2015
|
|||||||
(In Thousands)
|
||||||||
Accrued Interest on:
|
||||||||
Mortgage Loans
|
$
|
872
|
$
|
772
|
||||
Other Loans
|
58
|
58
|
||||||
Investments
|
3
|
3
|
||||||
Mortgage-Backed Securities
|
91
|
94
|
||||||
Total
|
$
|
1,024
|
$
|
927
|
Note 5. | Premises and Equipment |
2016
|
2015
|
|||||||
(In Thousands)
|
||||||||
Land
|
$
|
4,043
|
$
|
3,434
|
||||
Buildings
|
8,328
|
6,125
|
||||||
Equipment
|
1,368
|
1,348
|
||||||
Construction in Progress
|
926
|
1,325
|
||||||
14,665
|
12,232
|
|||||||
Accumulated Depreciation
|
(2,299
|
)
|
(2,044
|
)
|
||||
Total
|
$
|
12,366
|
$
|
10,188
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Note 6. | Deposits |
Weighted
|
Weighted
|
|||||||||||||||||||||||
Average
|
Average
|
|||||||||||||||||||||||
Rate at
|
Rate at
|
2016
|
2015
|
|||||||||||||||||||||
6/30/2016
|
6/30/2015
|
Amount
|
Percent
|
Amount
|
Percent
|
|||||||||||||||||||
(Dollars in Thousands)
|
||||||||||||||||||||||||
Non-Interest Bearing
|
0.00
|
%
|
0.00
|
%
|
$
|
39,280
|
13.65
|
%
|
$
|
45,024
|
15.73
|
%
|
||||||||||||
NOW Accounts
|
0.58
|
%
|
1.11
|
%
|
37,761
|
13.12
|
31,214
|
10.90
|
||||||||||||||||
Money Market
|
0.32
|
%
|
0.31
|
%
|
49,251
|
17.11
|
45,593
|
15.93
|
||||||||||||||||
Passbook Savings
|
0.42
|
%
|
0.32
|
%
|
29,033
|
10.09
|
18,435
|
6.44
|
||||||||||||||||
155,325
|
53.97
|
140,266
|
49.00
|
|||||||||||||||||||||
Certificates of Deposit
|
1.26
|
%
|
1.26
|
%
|
132,497
|
46.03
|
145,972
|
51.00
|
||||||||||||||||
Total Deposits
|
$
|
287,822
|
100.00
|
%
|
$
|
286,238
|
100.00
|
%
|
2016
|
2015
|
|||||||||||||||
|
Amount
|
Percent
|
Amount
|
Percent
|
||||||||||||
(Dollars in Thousands)
|
||||||||||||||||
0.00% to 0.99%
|
$
|
46,544
|
35.13
|
%
|
$
|
57,103
|
39.12
|
%
|
||||||||
1.00% to 1.99%
|
70,606
|
53.29
|
%
|
68,242
|
46.75
|
|||||||||||
2.00% to 2.99%
|
14,961
|
11.29
|
%
|
15,943
|
10.92
|
|||||||||||
3.00% to 3.99%
|
386
|
0.29
|
%
|
4,684
|
3.21
|
|||||||||||
Total Deposits
|
$
|
132,497
|
100.00
|
%
|
$
|
145,972
|
100.00
|
%
|
Weighted
|
||||||||||||
Year Ending
|
Average
|
|||||||||||
June 30,
|
Amount
|
Percent
|
Rate
|
|||||||||
(Dollars in Thousands)
|
||||||||||||
2017
|
$
|
58,384
|
44.06
|
%
|
0.90
|
%
|
||||||
2018
|
30,041
|
22.67
|
1.23
|
%
|
||||||||
2019
|
11,958
|
9.03
|
1.59
|
%
|
||||||||
2020
|
18,702
|
14.12
|
1.83
|
%
|
||||||||
2021
|
8,477
|
6.40
|
1.59
|
%
|
||||||||
2022
|
4,935
|
3.72
|
2.00
|
%
|
||||||||
Total
|
$
|
132,497
|
100.00
|
%
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
2016
|
2015
|
|||||||
(In Thousands)
|
||||||||
NOW and Money Market
|
$
|
431
|
$
|
369
|
||||
Passbook Savings
|
93
|
34
|
||||||
Certificates of Deposit
|
1,805
|
1,831
|
||||||
Total
|
$
|
2,329
|
$
|
2,234
|
Advance Total
|
||||||||
Contract Rate
|
2016
|
2015
|
||||||
(In Thousands)
|
||||||||
0.00% to 0.99%
|
$
|
41,500
|
$
|
32,000
|
||||
1.00% to 1.99%
|
4,000
|
4,000
|
||||||
2.00% to 2.99%
|
--
|
--
|
||||||
3.00% to 3.99%
|
--
|
--
|
||||||
4.00% to 4.99%
|
2,165
|
2,411
|
||||||
Total
|
$
|
47,665
|
$
|
38,411
|
Year Ending
|
||||
June 30,
|
Amount
|
|||
2017
|
$
|
23,758
|
||
2018
|
22,270
|
|||
2019
|
282
|
|||
2020
|
295
|
|||
2021
|
193
|
|||
Thereafter
|
867
|
|||
Total
|
$
|
47,665
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Note 8. | Other Borrowings |
Note 9. | Commitments |
Year Ending
|
||||
June 30,
|
Amount
|
|||
2017
|
$
|
78
|
||
2018
|
78
|
|||
2019
|
63
|
|||
2020
|
52
|
|||
2021
|
47
|
|||
Total
|
$
|
318
|
Year Ending
|
||||
June 30,
|
Amount
|
|||
(In Thousands)
|
||||
2017
|
$
|
138
|
||
2018
|
138
|
|||
2019
|
126
|
|||
Total
|
$
|
402
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Note 9. | Commitments (Continued) |
Year Ending
|
||||
June 30,
|
Amount
|
|||
(In Thousands)
|
||||
2017
|
$
|
354
|
||
2018
|
274
|
|||
2019
|
97
|
|||
Total
|
$
|
725
|
2016
|
2015
|
|||||||
(In Thousands)
|
||||||||
Current
|
$
|
1,795
|
$
|
1,725
|
||||
Deferred
|
(151
|
)
|
(64
|
)
|
||||
Total
|
$
|
1,644
|
$
|
1,661
|
2016
|
2015
|
|||||||
(In Thousands)
|
||||||||
Computed at Expected Statutory Rate
|
$
|
1,707
|
$
|
1,706
|
||||
Non-Taxable Income
|
(54
|
)
|
(56
|
)
|
||||
Other
|
(9
|
)
|
11
|
|||||
Provision for Income Tax Expense
|
$
|
1,644
|
$
|
1,661
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
|
2016
|
2015
|
||||||
(In Thousands)
|
||||||||
Deferred Tax Assets
|
||||||||
Stock Option Compensation
|
$
|
166
|
$
|
127
|
||||
Loans Receivable - Bad Debt Loss Allowance
|
861
|
749
|
||||||
Capital Losses
|
110
|
110
|
||||||
1,137
|
986
|
|||||||
Valuation Allowance
|
(110
|
)
|
(110
|
)
|
||||
Net Deferred Tax Assets
|
1,027
|
876
|
||||||
Deferred Tax Liabilities
|
||||||||
Market Value Adjustment to Available-for-Sale Securities
|
(43
|
)
|
(52
|
)
|
||||
Net Deferred Tax Assets
|
$
|
984
|
$
|
824
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Note 12. | Employee Stock Ownership Plan |
|
2016
|
2015
|
||||||
|
||||||||
Allocated and Committed to be Released Shares, Beginning of Year
|
77,159
|
66,135
|
||||||
|
||||||||
Shares Allocated and Committed to be Released During the Year
|
11,023
|
11,023
|
||||||
Unallocated and Unreleased Shares, as of Year End
|
128,711
|
139,735
|
||||||
Total ESOP Shares
|
216,893
|
216,893
|
||||||
Fair Value of Unreleased Shares (In Thousands)
|
$
|
2,761
|
$
|
2,823
|
||||
Stock Price
|
$
|
21.45
|
$
|
20.20
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Awarded Shares
|
||||||||
2016
|
2015
|
|||||||
Balance - Beginning of Year
|
36,282
|
41,567
|
||||||
Granted
|
--
|
8,557
|
||||||
Forfeited
|
--
|
--
|
||||||
Earned and Issued
|
(15,552
|
)
|
(13,842
|
)
|
||||
Balance - End of Year
|
20,730
|
36,282
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Note 13. | Stock-Based Compensation (Continued) |
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Note 13. | Stock-Based Compensation (Continued) |
|
Weighted
|
|||||||||||||||
|
Weighted
|
Average
|
||||||||||||||
|
Average
|
Remaining
|
Aggregate
|
|||||||||||||
|
Number of
|
Exercise
|
Contract
|
Intrinsic
|
||||||||||||
|
Shares
|
Price
|
Term
|
Value
|
||||||||||||
Outstanding at June 30, 2015
|
208,461
|
$
|
15.03
|
|||||||||||||
Granted
|
103,500
|
23.00
|
||||||||||||||
Exercised
|
(7,484
|
)
|
12.86
|
|||||||||||||
Forfeited
|
--
|
--
|
||||||||||||||
Outstanding at June 30, 2016
|
304,477
|
$
|
17.79
|
7.05
|
$
|
1,274,770
|
||||||||||
|
||||||||||||||||
Options Exercisable at June 30, 2016
|
142,860
|
$
|
14.53
|
5.57
|
$
|
988,183
|
||||||||||
Outstanding at June 30, 2014
|
198,480
|
$
|
13.99
|
|||||||||||||
Granted
|
31,311
|
18.92
|
||||||||||||||
Exercised
|
(21,330
|
)
|
10.99
|
|||||||||||||
Forfeited
|
--
|
--
|
||||||||||||||
Outstanding at June 30, 2015
|
208,461
|
$
|
15.03
|
6.81
|
$
|
1,078,470
|
||||||||||
|
||||||||||||||||
Options Exercisable at June 30, 2015
|
106,689
|
$
|
14.26
|
6.35
|
$
|
634,083
|
2014 Stock
|
||||||||
Incentive Plan
|
2011 Option Plan
|
|||||||
October 26, 2015
|
July 31, 2014
|
|||||||
Dividend Yield
|
1.39
|
%
|
1.50
|
%
|
||||
Expected Term
|
10 years
|
10 years
|
||||||
Risk-Free Interest Rate
|
2.07
|
%
|
2.58
|
%
|
||||
Expected Life
|
10 years
|
10 years
|
||||||
Expected Volatility
|
20.38
|
%
|
9.56
|
%
|
Weighted
|
||||||||
Average
|
||||||||
Number of
|
Exercise
|
|||||||
|
Shares
|
Price
|
||||||
Nonvested at June 30, 2015
|
101,772
|
$
|
15.84
|
|||||
Granted
|
103,500
|
23.00
|
||||||
Vested
|
(43,655
|
)
|
14.93
|
|||||
Forfeited
|
--
|
--
|
||||||
Nonvested at June 30, 2016
|
161,617
|
$
|
20.67
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Note 14. | Off-Balance Sheet Activities |
Contract Amount
|
||||||||
|
2016
|
2015
|
||||||
(In Thousands)
|
||||||||
Commitments to Grant Loans
|
$
|
29,621
|
$
|
29,005
|
||||
Unfunded Commitments Under Lines of Credit
|
10,948
|
9,230
|
||||||
$
|
40,569
|
$
|
38,235
|
|||||
Fixed Rate Loans (3.13% - 5.25% in 2016; 3.25% - 4.75% in 2015)
|
$
|
40,262
|
$
|
38,235
|
||||
Variable Rate Loans (2.88% - 4.75%)
|
307
|
--
|
||||||
|
$
|
40,569
|
$
|
38,235
|
||||
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Note 15. | Related Party Events |
|
2016
|
2015
|
||||||
(In Thousands)
|
||||||||
Balance – Beginning of Year
|
$
|
3,761
|
$
|
2,510
|
||||
Additions
|
507
|
2,488
|
||||||
Principal Payments
|
(496
|
)
|
(1,237
|
)
|
||||
Balance – End of Year
|
$
|
3,772
|
$
|
3,761
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Required for Capital
|
||||||||||||||||||||
Actual
|
Adequacy Purposes
|
|||||||||||||||||||
|
Amount
|
Ratio
|
Amount
|
Ratio
|
||||||||||||||||
(Dollars in Thousands)
|
||||||||||||||||||||
June 30, 2016
|
||||||||||||||||||||
Core Capital
|
(1
|
)
|
$
|
42,863
|
11.81
|
%
|
$
|
10,893
|
3.00
|
%
|
||||||||||
Common Equity Tier 1
|
(2
|
)
|
42,863
|
16.66
|
%
|
11,574
|
4.50
|
%
|
||||||||||||
Tangible Capital
|
(1
|
)
|
42,863
|
11.81
|
%
|
5,446
|
1.50
|
%
|
||||||||||||
Total Risk-Based Capital
|
(2
|
)
|
45,708
|
17.77
|
%
|
20,577
|
8.00
|
%
|
||||||||||||
June 30, 2015
|
||||||||||||||||||||
Core Capital
|
(1
|
)
|
$
|
42,492
|
11.81
|
%
|
$
|
10,798
|
3.00
|
%
|
||||||||||
Common Equity Tier 1
|
(2
|
)
|
42,492
|
17.90
|
%
|
10,682
|
4.50
|
%
|
||||||||||||
Tangible Capital
|
(1
|
)
|
42,492
|
11.81
|
%
|
5,399
|
1.50
|
%
|
||||||||||||
Total Risk-Based Capital
|
(2
|
)
|
44,757
|
18.85
|
%
|
18,990
|
8.00
|
%
|
||||||||||||
__________________________
|
||||||||||||||||||||
(1) Amounts and Ratios to Adjusted Total Assets
|
||||||||||||||||||||
(2) Amounts and Ratios to Total Risk-Weighted Assets
|
Required to be
|
||||||||||||||||||||
Actual
|
Well Capitalized
|
|||||||||||||||||||
|
Amount
|
Ratio
|
Amount
|
Ratio
|
||||||||||||||||
(Dollars in Thousands)
|
||||||||||||||||||||
June 30, 2016
|
||||||||||||||||||||
Tier 1 Leverage Capital
|
(1
|
)
|
$
|
42,863
|
11.81
|
%
|
$
|
18,154
|
5.00
|
%
|
||||||||||
Common Equity Tier 1
|
(2
|
)
|
42,863
|
16.66
|
%
|
16,719
|
6.50
|
%
|
||||||||||||
Tier 1 Risk-Based Capital
|
(2
|
)
|
42,863
|
16.66
|
%
|
20,576
|
8.00
|
%
|
||||||||||||
Total Risk-Based Capital
|
(2
|
)
|
45,708
|
17.77
|
%
|
25,721
|
10.00
|
%
|
||||||||||||
June 30, 2015
|
||||||||||||||||||||
Tier 1 Leverage Capital
|
(1
|
)
|
$
|
42,492
|
11.81
|
%
|
$
|
17,997
|
5.00
|
%
|
||||||||||
Common Equity Tier 1
|
(2
|
)
|
42,492
|
17.90
|
%
|
15,429
|
6.50
|
%
|
||||||||||||
Tier 1 Risk-Based Capital
|
(2
|
)
|
42,492
|
17.90
|
%
|
18,990
|
8.00
|
%
|
||||||||||||
Total Risk-Based Capital
|
(2
|
)
|
44,757
|
18.85
|
%
|
23,738
|
10.00
|
%
|
||||||||||||
__________________________
|
||||||||||||||||||||
(1) Amounts and Ratios to Adjusted Total Assets
|
||||||||||||||||||||
(2) Amounts and Ratios to Total Risk-Weighted Assets
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Minimum for Capital
|
||||||||||||||||
Actual
|
Adequacy Purposes
|
|||||||||||||||
June 30, 2016
|
Ratio
|
Amount
|
Ratio
|
Amount
|
||||||||||||
(Dollars in Thousands)
|
||||||||||||||||
Total Equity, and Ratio to Total Assets
|
11.87
|
%
|
$
|
43,110
|
||||||||||||
Investments in and Advances to Nonincludable Subsidiaries
|
(119
|
)
|
||||||||||||||
Unrealized Gains on Securities Available-for-Sale
|
(128
|
)
|
||||||||||||||
Tangible Capital, and Ratio to Adjusted Total Assets
|
11.81
|
%
|
$
|
42,863
|
1.5
|
%
|
$
|
5,446
|
||||||||
Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets
|
11.81
|
%
|
$
|
42,863
|
3.0
|
%
|
$
|
10,893
|
||||||||
Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets
|
16.66
|
%
|
$
|
42,863
|
4.5
|
%
|
$
|
11,574
|
||||||||
Allowance for Loan Losses
|
2,845
|
|||||||||||||||
Total Risk-Based Capital, and Ratio to Risk-Weighted Assets
|
17.77 | % | $ | 45,708 | 8.0 | % | $ | 20,577 | ||||||||
Total Assets
|
$
|
363,585
|
||||||||||||||
Adjusted Total Assets
|
$
|
363,088
|
||||||||||||||
Risk-Weighted Assets
|
$
|
257,211
|
Minimum for Capital
|
||||||||||||||||
Actual
|
Adequacy Purposes
|
|||||||||||||||
June 30, 2015
|
Ratio
|
Amount
|
Ratio
|
Amount
|
||||||||||||
(Dollars in Thousands)
|
||||||||||||||||
Total Equity, and Ratio to Total Assets
|
11.87
|
%
|
$
|
42,763
|
||||||||||||
Investments in and Advances to Nonincludable Subsidiaries
|
(119
|
)
|
||||||||||||||
Unrealized Gains on Securities Available-for-Sale
|
(152
|
)
|
||||||||||||||
Tangible Capital, and Ratio to Adjusted Total Assets
|
11.81
|
%
|
$
|
42,492
|
1.5
|
%
|
$
|
5,399
|
||||||||
Tier 1 (Core) Capital, and Ratio to Adjusted Total Assets
|
11.81 | % | 42,492 | 3.0 | % | $ | 10,798 | |||||||||
Tier 1 (Core) Capital, and Ratio to Risk-Weighted Assets
|
17.90
|
%
|
42,492
|
4.5
|
%
|
$
|
10,682
|
|||||||||
Allowance for Loan Losses
|
2,515
|
|||||||||||||||
Equity Investment
|
(250
|
)
|
||||||||||||||
Total Risk-Based Capital, and Ratio to Risk-Weighted Assets
|
18.85
|
%
|
$
|
44,757
|
8.0
|
%
|
$
|
18,990
|
||||||||
Total Assets
|
$
|
360,219
|
||||||||||||||
Adjusted Total Assets
|
$
|
359,948
|
||||||||||||||
Risk-Weighted Assets
|
$
|
237,376
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
The following methods and assumptions were used by the Company in estimating fair values of financial instruments: |
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
2016
|
2015
|
|||||||||||||||
Carrying
|
Estimated
|
Carrying
|
Estimated
|
|||||||||||||
Value
|
Fair Value
|
Value
|
Fair Value
|
|||||||||||||
(In Thousands)
|
||||||||||||||||
Financial Assets
|
||||||||||||||||
Cash and Cash Equivalents
|
$
|
4,756
|
$
|
4,756
|
$
|
21,166
|
$
|
21,166
|
||||||||
Securities Available-for-Sale
|
50,173
|
50,173
|
44,885
|
44,885
|
||||||||||||
Securities to be Held-to-Maturity
|
2,349
|
2,349
|
2,010
|
2,010
|
||||||||||||
Loans Held-for-Sale
|
11,919
|
11,919
|
14,203
|
14,203
|
||||||||||||
Loans Receivable
|
290,827
|
290,339
|
268,427
|
267,157
|
||||||||||||
Financial Liabilities
|
||||||||||||||||
Deposits
|
287,822
|
285,503
|
286,238
|
266,442
|
||||||||||||
Advances from FHLB
|
47,665
|
47,802
|
38,411
|
38,751
|
||||||||||||
Off-Balance Sheet Items
|
||||||||||||||||
Mortgage Loan Commitments
|
296
|
296
|
290
|
290
|
·
|
Defines fair value as the price that would be received to sell an asset or paid to transfer a liability, in either case, through an orderly transaction between market participants at a measurement date and establishes a framework for measuring fair value;
|
·
|
Establishes a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date;
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
·
|
Nullifies the guidance in EITF 02-3, which required the deferral of profit at inception of a transaction involving a derivative financial instrument in the absence of observable data supporting the valuation technique;
|
·
|
Eliminates large position discounts for financial instruments quoted in active markets and requires consideration of the company's creditworthiness when valuing liabilities; and
|
·
|
Expands disclosures about instruments that are measured at fair value.
|
·
|
Level 1 - Fair value is based upon quoted prices (unadjusted) for identical assets or liabilities in active markets in which the Company can participate.
|
·
|
Level 2 - Fair value is based upon (a) quoted prices for similar assets or liabilities in active markets; (b) quoted prices for identical or similar assets or liabilities in markets that are not active, that is, markets in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly; (c) inputs other than quoted prices that are observable for the asset or liability; or (d) inputs that are derived principally from or corroborated by observable market data by correlation or other means.
|
·
|
Level 3 - Fair value is based upon inputs that are unobservable for the asset or liability. These inputs reflect the Company's own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). These inputs are developed based on the best information available in the circumstances, which include the Company's own data. The Company's own data used to develop unobservable inputs are adjusted if information indicates that market participants would use different assumptions.
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
Fair Value Measurements
|
||||||||||||||||
June 30, 2016
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
Total
|
||||||||||||
(In Thousands)
|
||||||||||||||||
Available-for-Sale Debt Securities
|
||||||||||||||||
FHLMC
|
$
|
--
|
$
|
10,793
|
$
|
--
|
$
|
10,793
|
||||||||
FNMA
|
--
|
27,223
|
--
|
27,223
|
||||||||||||
GNMA
|
--
|
12,157
|
--
|
12,157
|
||||||||||||
Total
|
$
|
--
|
$
|
50,173
|
$
|
--
|
$
|
50,173
|
Fair Value Measurements
|
||||||||||||||||
June 30, 2015
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
Total
|
||||||||||||
(In Thousands)
|
||||||||||||||||
Available-for-Sale Debt Securities
|
||||||||||||||||
FHLMC
|
$
|
--
|
$
|
284
|
$
|
--
|
$
|
284
|
||||||||
FNMA
|
--
|
27,807
|
--
|
27,807
|
||||||||||||
GNMA
|
--
|
16,794
|
--
|
16,794
|
||||||||||||
Total
|
$
|
--
|
$
|
44,885
|
$
|
--
|
$
|
44,885
|
Fair Value Measurements
|
||||||||||||||||
June 30, 2016
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
Total
|
||||||||||||
(In Thousands)
|
||||||||||||||||
Assets:
|
||||||||||||||||
Impaired Loans, Net of Allowance
|
$
|
--
|
$
|
--
|
$
|
13
|
$
|
13
|
||||||||
Total
|
$
|
--
|
$
|
--
|
$
|
13
|
$
|
13
|
Fair Value Measurements
|
||||||||||||||||
June 30, 2015
|
(Level 1)
|
(Level 2)
|
(Level 3)
|
Total
|
||||||||||||
(In Thousands)
|
||||||||||||||||
Assets:
|
||||||||||||||||
Impaired Loans, Net of Allowance
|
$
|
--
|
$
|
--
|
$
|
13
|
$
|
13
|
||||||||
Total
|
$
|
--
|
$
|
--
|
$
|
13
|
$
|
13
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
2016
|
2015
|
|||||||
Average Common Shares Issued
|
2,045,179
|
2,172,944
|
||||||
Average Unearned ESOP Shares
|
(138,784
|
)
|
(150,314
|
)
|
||||
Average Unearned RRP Trust Shares
|
(29,007
|
)
|
(44,398
|
)
|
||||
Weighted Average Number of Common Shares Used in Basic EPS
|
1,877,388
|
1,978,232
|
||||||
|
||||||||
Effect of Dilutive Securities Stock Options
|
64,314
|
53,627
|
||||||
Weighted Average Number of Common Shares and Dilutive Potential Common Shares Used in Dilutive EPS
|
1,941,702
|
2,031,859
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
June 30,
|
||||||||
|
2016
|
2015
|
||||||
(In Thousands)
|
||||||||
Assets
|
||||||||
Cash and Cash Equivalents
|
$
|
90
|
$
|
388
|
||||
Investment in Subsidiary
|
43,360
|
42,764
|
||||||
Other Assets
|
409
|
247
|
||||||
Total Assets
|
$
|
43,859
|
$
|
43,399
|
||||
Liabilities and Stockholders' Equity
|
||||||||
Borrowings
|
$
|
400
|
--
|
|||||
Other Liabilities
|
67
|
13
|
||||||
Stockholders' Equity
|
43,392
|
43,386
|
||||||
Total Liabilities and Stockholders' Equity
|
$
|
43,859
|
$
|
43,399
|
For the Years Ended June 30,
|
||||||||
|
2016
|
2015
|
||||||
(In Thousands)
|
||||||||
Equity in Undistributed Earnings of Subsidiary
|
$
|
3,612
|
$
|
3,543
|
||||
Interest Income
|
85
|
90
|
||||||
Total Income
|
3,697
|
3,633
|
||||||
Operating Expenses
|
423
|
372
|
||||||
Interest Expense
|
18
|
3
|
||||||
Total Expense
|
441
|
375
|
||||||
Income Before Income Tax Benefit
|
3,256
|
3,258
|
||||||
Income Tax Benefit
|
(121
|
)
|
(97
|
)
|
||||
Net Income
|
$
|
3,377
|
$
|
3,355
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA AND SUBSIDIARY
|
Notes to Consolidated Financial Statements
|
For the Years Ended June 30,
|
||||||||
|
2016
|
2015
|
||||||
(In Thousands)
|
||||||||
Operating Activities
|
||||||||
Net Income
|
$
|
3,377
|
$
|
3,355
|
||||
|
||||||||
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities
|
||||||||
Equity in Undistributed Earnings of Subsidiary
|
(3,612
|
)
|
(3,543
|
)
|
||||
(Increase) Decrease in Other Assets
|
(162
|
)
|
31
|
|||||
Increase in Other Liabilities
|
54
|
--
|
||||||
Net Cash Used in Operating Activities
|
(343
|
)
|
(157
|
)
|
||||
Financing Activities
|
||||||||
Distribution from Subsidiary
|
3,000
|
3,000
|
||||||
Proceeds from Stock Options Exercised
|
85
|
180
|
||||||
Proceeds of Borrowings
|
2,200
|
550
|
||||||
Repayment of Borrowings
|
(1,800
|
)
|
(550
|
)
|
||||
Proceeds Received from Subsidiary on Stock Compensation Programs
|
573
|
679
|
||||||
Company Stock Purchased
|
(3,353
|
)
|
(2,923
|
)
|
||||
Dividends Paid
|
(660
|
)
|
(613
|
)
|
||||
Net Cash Provided by Financing Activities
|
45
|
323
|
||||||
(Decrease) Increase in Cash and Cash Equivalents
|
(298
|
)
|
166
|
|||||
Cash and Cash Equivalents, Beginning of Year
|
388
|
222
|
||||||
Cash and Cash Equivalents, End of Year
|
$
|
90
|
$
|
388
|
(a) | Our management evaluated, with the participation of our principal executive officer and principal financial officer, the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934) as of the end of the period covered by this report. Based on such evaluation, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and regulations and are operating in an effective manner. |
(b) | Management's Report on Internal Control over Financial Reporting |
(c) | No change in the Company's internal control over financial reporting (as defined in rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934) occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, its internal control over financial reporting. |
Plan Category
|
Number of Securities to be
Issued Upon Exercise of
Outstanding Options,
Warrants
and Rights
(a)
|
Weighted-Average
Exercise Price of
Outstanding
Options, Warrants
and Rights
(b)
|
Number of Securities
Remaining Available for
Future Issuance Under Equity
Compensation Plans
(Excluding Securities
Reflected in Column (a))
(c)
|
|||||||||
Equity compensation plans approved by security holders
|
359,707
|
$
|
18.32
|
12,000
|
||||||||
Equity compensation plans not approved by security holders
|
--
|
--
|
--
|
|||||||||
Total
|
359,707
|
$
|
18.32
|
12,000
|
No.
|
Description
|
Location
|
||
3.1
|
Articles of Incorporation of Home Federal Bancorp, Inc. of Louisiana
|
(1)
|
||
3.2
|
Bylaws of Home Federal Bancorp, Inc. of Louisiana
|
(1)
|
||
4.0
|
Form of Stock Certificate of Home Federal Bancorp, Inc. of Louisiana
|
(1)
|
||
10.1
|
Home Federal Bancorp, Inc. of Louisiana 2005 Stock Option Plan*
|
(2)
|
||
10.2
|
Home Federal Bancorp, Inc. of Louisiana 2005 Recognition and Retention Plan*
|
(2)
|
||
10.3
|
Home Federal Bancorp, Inc. of Louisiana 2011 Stock Option Plan*
|
(3)
|
||
10.4
|
Home Federal Bancorp, Inc. of Louisiana 2011 Recognition and Retention Plan and Trust
Agreement*
|
(3)
|
||
10.5
|
Amended and Restated Employment Agreement between Home Federal Bank and James R.
Barlow, dated as of December 27, 2012*
|
(4)
|
||
10.6
|
Employment Agreement between Home Federal Bancorp, Inc. of Louisiana and James R.
Barlow, dated as of December 27, 2012*
|
(4)
|
||
10.7
|
Amended and Restated Employment and Transition Agreement between Home Federal
Bank and Daniel R. Herndon, dated as of December 27, 2012*
|
(4)
|
||
10.8
|
Amended and Restated Employment and Transition Agreement between Home Federal
Bancorp, Inc. of Louisiana and Daniel R. Herndon, dated as of December 27, 2012*
|
(4)
|
||
10.9
|
Employment and Transition Agreement between Home Federal Bancorp, Inc. of Louisiana,
Home Federal Bank and Clyde D. Patterson, dated as of December 27, 2012*
|
(4)
|
||
10.10
|
Supplemental Executive Retirement Agreement between Home Federal Bank and Daniel R.
Herndon, dated as of December 27, 2012*
|
(4)
|
||
10.11
|
Supplemental Executive Retirement Agreement between Home Federal Bank and Clyde D.
Patterson, dated as of December 27, 2012*
|
(4)
|
||
10.12
|
Letter Agreement between Home Federal Bank and Adalberto Cantu, Jr., dated as of
February 6, 2013*
|
(5)
|
||
10.13
|
Letter Agreement by and among Home Federal Bank, Home Federal Bancorp, Inc. of
Louisiana and Glen W. Brown accepted as of April 9, 2014*
|
(6)
|
||
10.14
|
Home Federal Bancorp. Inc. of Louisiana 2014 Stock Incentive Plan*
|
(7)
|
||
10.15
|
Home Federal Bank 2016 Loan Officer Incentive Compensation Plan*
|
(8)
|
||
23.0
|
Consent of LaPorte, A Professional Accounting Corporation
|
Filed Herewith
|
||
31.1
|
Rule 13a-14(a)/15d-14(a) Certification of the Principal Executive Officer
|
Filed Herewith
|
||
31.2
|
Rule 13a-14(a)/15d-14(a) Certification of the Chief Financial Officer
|
Filed Herewith
|
||
32.0
|
Section 1350 Certifications
|
Filed Herewith
|
No.
|
Description
|
Location
|
||
101.INS
|
XBRL Instance Document.
|
Filed Herewith
|
||
101.SCH
|
XBRL Taxonomy Extension Schema Document.
|
Filed Herewith
|
||
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase Document.
|
Filed Herewith
|
||
101.LAB
|
XBRL Taxonomy Extension Label Linkbase Document.
|
Filed Herewith
|
||
101.PRE
|
XBRL Taxonomy Extension Presentation Linkbase Document.
|
Filed Herewith
|
||
101.DEF
|
XBRL Taxonomy Extension Definitions Linkbase Document.
|
Filed Herewith
|
* | Denotes a management contract or compensatory plan or arrangement. |
(1) | Incorporated herein by reference from Home Federal Bancorp's Registration Statement on Form S-1, as amended, filed with the SEC on September 3, 2010 (File No. 333-169230). |
(2) | Incorporated herein by reference from Home Federal Bancorp, Inc. of Louisiana's Definitive Schedule 14A filed with the SEC on June 29, 2005 (File No. 000-51117). |
(3) | Incorporated by reference from the Company's definitive proxy statement for the Annual Meeting of Shareholders held on December 23, 2011 filed with the Commission on October 28, 2011 (File No. 001-35019). |
(4) | Incorporated by reference from the Company's Current Report on Form 8-K filed with the SEC on December 28, 2012 (File No. 001-35019). |
(5) | Incorporated by reference from the Company's Quarterly Report on Form 10-Q filed with the SEC on May 10, 2013 (File No. 001-35019). |
(6) | Incorporated by reference from the Company's Current Report on Form 8-K filed with the SEC on July 9, 2014 (File No. 001-35019). |
(7) | Incorporated by reference from the Company's definitive proxy statement for the Annual Meeting of Shareholders held on November 12, 2014 (File No. 001-35019). |
|
HOME FEDERAL BANCORP, INC. OF LOUISIANA
|
|
|
Date: September 21, 2016
|
By:
|
/s/ James R. Barlow
|
|
|
|
James R. Barlow
|
|
|
|
President and Chief Executive Officer
|
|
Name
|
Title
|
Date
|
||
/s/ Daniel R. Herndon
|
||||
Daniel R. Herndon
|
Executive Chairman of the Board
|
September 21, 2016
|
||
/s/ James R. Barlow | ||||
James R. Barlow
|
Director, President and Chief
Executive Officer
(Principal Executive Officer)
|
September 21, 2016
|
||
/s/ Glen W. Brown | ||||
Glen W. Brown
|
Senior Vice President and Chief
Financial Officer
(Principal Financial and Accounting Officer)
|
September 21, 2016
|
||
/s/ Clyde D. Patterson | ||||
Clyde D. Patterson
|
Director, Executive Vice President and Treasurer
|
September 21, 2016
|
||
/s/ Walter T. Colquitt, III
|
||||
Walter T. Colquitt, III
|
Director
|
September 21, 2016
|
||
/s/ David A. Herndon, III
|
||||
David A. Herndon, III
|
Director
|
September 21, 2016
|
||
/s/ Scott D. Lawrence
|
||||
Scott D. Lawrence
|
Director
|
September 21, 2016
|
||
/s/ Mark M. Harrison
|
||||
Mark M. Harrison
|
Director
|
September 21, 2016
|
||
/s/ Woodus K. Humphrey
|
||||
Woodus K. Humphrey
|
Director
|
September 21, 2016
|
||
/s/ Thomas Steen Trawick, Jr.
|
||||
Thomas Steen Trawick, Jr.
|
Director
|
September 21, 2016
|
||
/s/ Timothy W. Wilhite, Esq.
|
||||
Timothy W. Wilhite, Esq.
|
Director
|
September 21, 2016
|
||
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d) | Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. | The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions): |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and |
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
/s/ James R. Barlow | |
James R. Barlow
|
|
President and Chief Executive Officer
|
|
(Principal Executive Officer)
|
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d) | Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and |
5. | The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent functions): |
a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and |
b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. |
/s/ Glen W. Brown | |
Glen W. Brown
|
|
Senior Vice President and Chief Financial Officer
|
|
(Principal Financial and Accounting Officer)
|
Date: September 21, 2016
|
/s/ James R. Barlow |
James R. Barlow
|
|
President and Chief Executive Officer
|
|
(Principal Executive Officer)
|
Date: September 21, 2016
|
/s/ Glen W. Brown |
Glen W. Brown
|
|
Senior Vice President and Chief Financial Officer
|
|
(Principal Financial and Accounting Officer)
|
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end
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end
Document and Entity Information - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Jun. 30, 2016 |
Sep. 20, 2016 |
Dec. 31, 2015 |
|
Document and Entity Information [Abstract] | |||
Entity Registrant Name | Home Federal Bancorp, Inc. of Louisiana | ||
Entity Central Index Key | 0001500375 | ||
Current Fiscal Year End Date | --06-30 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Public Float | $ 34,250 | ||
Entity Common Stock, Shares Outstanding | 1,960,719 | ||
Document Fiscal Year Focus | 2016 | ||
Document Fiscal Period Focus | FY | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Jun. 30, 2016 |
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Jun. 30, 2015 |
---|---|---|
ASSETS | ||
Interest-Bearing Deposits with Other Banks | $ 2,529 | $ 16,947 |
Securities Held-to-Maturity, Fair Value | 2,349 | 2,010 |
Loans Receivable, Allowance for Loan Losses | $ 2,845 | $ 2,515 |
STOCKHOLDERS' EQUITY | ||
Preferred Stock, Par Value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred Stock, Authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred Stock, Issued (in shares) | 0 | 0 |
Preferred Stock, Outstanding (in shares) | 0 | 0 |
Common Stock, Par Value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, Authorized (in shares) | 40,000,000 | 40,000,000 |
Common Stock, Issued (in shares) | 1,967,955 | 2,109,606 |
Common Stock, Outstanding (in shares) | 1,967,955 | 2,109,606 |
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Consolidated Statements of Comprehensive Income [Abstract] | ||
Net Income | $ 3,377 | $ 3,355 |
Other Comprehensive Loss, Net of Tax | ||
Unrealized Holding Loss Arising During the Period | (16) | (35) |
Reclassification Adjustment for Gains Included in Net Income | 0 | (37) |
Total Other Comprehensive Loss | (16) | (72) |
Total Comprehensive Income | $ 3,361 | $ 3,283 |
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands |
Common Stock [Member] |
Additional Paid-In Capital [Member] |
Treasury Stock [Member] |
Unearned ESOP Stock [Member] |
Unearned RRP Trust Stock [Member] |
Retained Earnings [Member] |
Accumulated Other Comprehensive Income (Loss) [Member] |
Total |
---|---|---|---|---|---|---|---|---|
Beginning Balance at Jun. 30, 2014 | $ 34 | $ 32,853 | $ (15,698) | $ (1,561) | $ (609) | $ 27,588 | $ 172 | $ 42,779 |
ESOP Compensation Earned | 0 | 109 | 0 | 116 | 0 | 0 | 0 | 225 |
Stock Options Exercised | 0 | 235 | 0 | 0 | 0 | 0 | 0 | 235 |
Distribution of RRP Trust Stock | 0 | 0 | 0 | 0 | 276 | 0 | 0 | 276 |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | (613) | 0 | (613) |
Stock Options Vested | 0 | 178 | 0 | 0 | 0 | 0 | 0 | 178 |
Company Stock Purchased | 0 | 0 | (2,977) | 0 | 0 | 0 | 0 | (2,977) |
Net Income | 0 | 0 | 0 | 0 | 0 | 3,355 | 0 | 3,355 |
Other Comprehensive Loss, Net of Applicable Deferred Income Taxes | 0 | 0 | 0 | 0 | 0 | 0 | (72) | (72) |
Reclassification of Treasury Stock | (9) | 0 | 18,675 | 0 | 0 | (18,666) | 0 | 0 |
Ending Balance at Jun. 30, 2015 | 25 | 33,375 | 0 | (1,445) | (333) | 11,664 | 100 | 43,386 |
ESOP Compensation Earned | 0 | 144 | 0 | 114 | 0 | 0 | 0 | 258 |
Stock Options Exercised | 0 | 96 | 0 | 0 | 0 | 0 | 0 | 96 |
Distribution of RRP Trust Stock | 0 | 36 | 0 | 0 | 68 | 0 | 0 | 104 |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | (660) | 0 | (660) |
Stock Options Vested | 0 | 212 | 0 | 0 | 0 | 0 | 0 | 212 |
Company Stock Purchased | (2) | 0 | 0 | 0 | 0 | (3,363) | 0 | (3,365) |
Net Income | 0 | 0 | 0 | 0 | 0 | 3,377 | 0 | 3,377 |
Other Comprehensive Loss, Net of Applicable Deferred Income Taxes | 0 | 0 | 0 | 0 | 0 | 0 | (16) | (16) |
Ending Balance at Jun. 30, 2016 | $ 23 | $ 33,863 | $ 0 | $ (1,331) | $ (265) | $ 11,018 | $ 84 | $ 43,392 |
Summary of Significant Accounting Policies |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Significant Accounting Policies |
Nature of Operations On December 22, 2010, Home Federal Mutual Holding Company completed its second step conversion from the mutual holding company form of organization to the fully public stock holding company structure pursuant to a Plan of Conversion and Reorganization. Upon completion of the conversion, Home Federal Bancorp, Inc. of Louisiana, a newly formed Louisiana chartered corporation (the Company), became the holding company for Home Federal Bank (the Bank), and Home Federal Mutual Holding Company of Louisiana and Home Federal Bancorp, Inc. of Louisiana, a federally chartered corporation, (the Mid-Tier Company) ceased to exist. As part of the conversion, all outstanding shares of the Mid-Tier Company common stock (other than those owned by Home Federal Mutual Holding Company) were converted into the right to receive 0.9110 of a share of the newly formed Home Federal Bancorp, Inc. of Louisiana common stock resulting in approximately 1,100,609 shares issued in the exchange and cash in lieu of fractional shares. In addition, a total of 1,945,220 shares of common stock, par value $0.01 per share, of Home Federal Bancorp, Inc. of Louisiana were sold in subscription, community and syndicated community offerings to certain depositors and borrowers of the Bank, the Bank’s Employee Stock Ownership Plan, and other investors for $10.00 per share, or $19.5 million in aggregate. Treasury stock held was cancelled in the conversion. The net proceeds of the offering were approximately $18.0 million, after offering expenses. The Bank is a federally chartered, stock savings and loan association and is subject to federal regulation by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (the OCC). The Bank provides financial services to individuals, corporate entities and other organizations through the origination of loans and the acceptance of deposits in the form of passbook savings, certificates of deposit, and demand deposit accounts. Services are provided by six branch offices, four of which are located in Shreveport, Louisiana and two in Bossier City, Louisiana. The Bank’s home office is located in Shreveport, Louisiana. The Bank is subject to competition from other financial institutions, and is also subject to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. Basis of Presentation and Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Home Federal Bank. All significant intercompany balances and transactions have been eliminated. Use of Estimates In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheets and reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for loan losses and deferred taxes. Significant Group Concentrations of Credit Risk Most of the Company’s activities are provided to customers of the Bank by six branch offices, four of which are located in the city of Shreveport, Louisiana and two in Bossier City, Louisiana. The area served by the Bank is primarily the Shreveport-Bossier City metropolitan area; however, loan and deposit customers are found dispersed in a wider geographical area covering much of northwest Louisiana. Cash and Cash Equivalents For purposes of the Consolidated Statements of Cash Flows, cash and cash equivalents include cash on hand, balances due from banks, and federal funds sold, all of which have an original maturity date of ninety days or less. At June 30, 2016 and 2015, cash and cash equivalents consisted of the following:
Securities Securities are being accounted for in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 320, Investments - Debt and Equity Securities. ASC 320 requires the classification of securities into one of three categories: Trading, Available-for-Sale, or Held-to-Maturity. Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates this classification periodically. Investments in non-marketable equity securities and debt securities, in which the Company has the positive intent and ability to hold to maturity, are classified as held-to-maturity and carried at cost, adjusted for amortization of the related premiums and accretion of discounts, using the interest method. Investments in debt securities that are not classified as held-to-maturity and marketable equity securities that have readily determinable fair values are classified as either trading or available-for-sale securities. Securities that are acquired and held principally for the purpose of selling in the near term are classified as trading securities. Investments in securities not classified as trading or held-to-maturity are classified as available-for-sale. Trading account and available-for-sale securities are carried at fair value. Unrealized holding gains and losses on trading securities are included in earnings while net unrealized holding gains and losses on available-for-sale securities are excluded from earnings and reported in other comprehensive income. The Company held no trading securities as of June 30, 2016 and 2015. Purchase premiums and discounts are recognized in interest income using the interest method over the term of the securities. Declines in the fair value of held-to-maturity and available-for-sale securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. Loans Held-for-Sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Loans Loans receivable are stated at unpaid principal balances, less allowances for loan losses and unamortized deferred loan fees. Net non-refundable fees (loan origination fees, commitment fees, discount points) and costs associated with lending activities are being deferred and subsequently amortized into income as an adjustment of yield on the related interest earning assets using the interest method. Interest income on contractual loans receivable is recognized on the accrual method. Unearned discounts are deferred and amortized on the interest method over the life of the loan. Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of the underlying collateral, and prevailing economic conditions. The evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available. A loan is considered impaired when, based on current information or events, it is probable that the Bank will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. When a loan is impaired, the measurement of such impairment is based upon the fair value of the collateral of the loan. If the fair value of the collateral is less than the recorded investment in the loan, the Bank will recognize the impairment by creating a valuation allowance with a corresponding charge against earnings. A loan is considered a troubled debt restructuring ("TDR") if the Company, for economic or legal reasons related to a debtor's financial difficulties, grants a concession to the debtor that it would not otherwise consider. Concessions granted under a TDR typically involve a temporary or permanent reduction in payments or interest rate or an extension of a loan's stated maturity date at less than a current market rate of interest. Loans identified as TDRs are designated as impaired. An allowance is also established for uncollectible interest on loans classified as substandard. The allowance is established by a charge to interest income equal to all interest previously accrued and income is subsequently recognized only to the extent that cash payments are received. When, in management’s judgment, the borrower’s ability to make periodic interest and principal payments is back to normal, the loan is returned to accrual status. It should be understood that estimates of future loan losses involve an exercise of judgment. While it is possible that in particular periods the Company may sustain losses, which are substantial relative to the allowance for loan losses, it is the judgment of management that the allowance for loan losses reflected in the accompanying statements of condition is adequate to absorb known and inherent losses in the existing loan portfolio both probable and reasonable to estimate. Off-Balance Sheet Credit Related Financial Instruments In the ordinary course of business, the Bank has entered into commitments to extend credit. Such financial instruments are recorded when they are funded. Foreclosed Assets Assets acquired through, or in lieu of, loan foreclosure are held-for-sale and are carried at the lower of cost or current fair value minus estimated cost to sell as of the date of foreclosure. Cost is defined as the lower of the fair value of the property or the recorded investment in the loan. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. Premises and Equipment Land is carried at cost. Buildings and equipment are carried at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. Estimated useful lives are as follows:
Bank-Owned Life Insurance The Company has purchased life insurance contracts on the lives of certain key employees. The Bank is the beneficiary of these policies. These contracts are reported at their cash surrender value and changes in the cash surrender value are included in non-interest income. Income Taxes The Company and its wholly-owned subsidiary file a consolidated federal income tax return on a fiscal year basis. Each entity will pay its pro-rata share of income taxes in accordance with a written tax-sharing agreement. The Company accounts for income taxes on the asset and liability method. Deferred tax assets and liabilities are recorded based on the difference between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Current taxes are measured by applying the provisions of enacted tax laws to taxable income to determine the amount of taxes receivable or payable. The Company follows the provisions of the Income Taxes Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740. ASC 740 prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on various related matters such as derecognition, interest, penalties, and disclosures required. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. While the Bank is exempt from Louisiana income tax, it is subject to the Louisiana Ad Valorem Tax, commonly referred to as the Louisiana Shares Tax, which is based on stockholders’ equity and net income. Earnings per Share Earnings per share are computed based upon the weighted average number of common shares outstanding during the year. Non-Direct Response Advertising The Company expenses all advertising costs, except for direct-response advertising, as incurred. Non-direct response advertising costs were $236,000 and $249,000 for the years ended June 30, 2016 and 2015, respectively. In the event the Company incurs expense for material direct-response advertising, it will be amortized over the estimated benefit period. Direct-response advertising consists of advertising whose primary purpose is to elicit sales to customers who could be shown to have responded specifically to the advertising and results in probable future benefits. For the years ended June 30, 2016 and 2015, the Company did not incur any amount of direct-response advertising. Stock-Based Compensation GAAP requires all share-based payments to employees, including grants of employee stock options and recognition and retention share awards, to be recognized as expense in the statement of operations based on their fair values. The amount of compensation is measured at the fair value of the options or recognition and retention share awards when granted, and this cost is expensed over the required service period, which is normally the vesting period of the options or recognition and retention awards. This guidance applies to awards granted or modified after January 1, 2006, or any unvested awards outstanding prior to that date. Reclassification Certain financial statement balances included in the prior year consolidated financial statements have been reclassified to conform to the current year presentation. Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains, and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the Consolidated Balance Sheets, such items, along with net income, are components of comprehensive income. The components of other comprehensive income and related tax effects are as follows:
The components of accumulated other comprehensive income, included in stockholders’ equity, are as follows:
Stockholders’ Equity On January 1, 2015 Louisiana Business Corporation Act (the Act) became effective. Under the provisions of the Act, there is no concept of “Treasury Shares”. Rather, shares purchased by the Company constitute authorized but unissued shares. Under Accounting Standards Codification (ASC) 505-30, Treasury Stock, accounting for treasury stock shall conform to state law. Accordingly, the Company’s Consolidated Statements of Changes in Stockholders’ Equity for the year ended June 30, 2015 reflects this change. The cost of shares purchased by the Company has been allocated to Common Stock and Retained Earnings balances. Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers. The amendments in ASU 2014-09 supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The general principle of ASU 2014-09 requires an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration of which the entity expects to be entitled in exchange for those goods or services. The guidance sets forth a five step approach to be utilized for revenue recognition. In August 2015, the FASB issued ASU 2015-14 which deferred the effective date of ASU 2014-09 making it effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. In April 2016, the FASB issued ASU 2016-10 which does not change the core principle of the guidance in Topic 606. The amendments in this Update clarify the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. In May 2016, the FASB issued ASU 2016-12 which does not change the core principle of the guidance in Topic 606. The amendments in this Update affect only certain narrow aspects of Topic 606. Management is currently assessing the impact to the Company's consolidated financial statements. In August 2014, the FASB issued ASU 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity. The amendments of ASU 2014-13 allow for a reporting entity that consolidates a collateralized financing entity within the scope of the guidance to elect to measure the financial assets and the financial liabilities of that collateralized financing entity using the measurement alternative. Under the measurement alternative, the reporting entity should measure both the financial assets and the financial liabilities of that collateralized financing entity in its consolidated financial statements using the more observable of the fair value of the financial assets and the fair value of the financial liabilities. The amendments are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In August 2014, the FASB issued ASU 2014-14, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40). The amendments in this Update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is non-separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor, and make a claim on the guaranty, and the creditor has the ability to recover under that claim, and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. This Update did not have a significant impact on the Company's consolidated financial statements. In January 2015, the FASB issued ASU 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. The amendments of ASU 2015-01 eliminate from Generally Accepted Accounting Principles the concept of extraordinary items. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In April 2015, the FASB issued ASU-2015-03, Interest – Imputation of Interest (Subtopic 325-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in ASU 2015-03 are intended to simplify the presentation of debt issuance costs. These amendments required that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct reduction from the carrying amount of the debt liability, consistent with debt discounts. The recognition and measurement guidance of debt issuance costs are not affected by the amendments in this ASU. The amendments are effective for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016. Early adoption is permitted for financial statements that have not been previously issued. In August 2015, the FASB issued ASU 2015-05, which modifies ASU 2015-03 to include line of credit arrangements. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. This ASU eliminates the requirement to retrospectively account for changes to provisional amounts initially recorded in a business combination. ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustments are determined, including the effect of the change in provisional amount as if the accounting had been completed at the acquisition date. The provisions of this ASU are effective for fiscal years beginning after December 15, 2015, and should be applied prospectively to adjustments to provisional amounts that occur after the effective date. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes, which simplifies the presentation of deferred taxes by requiring deferred tax assets and liabilities to be classified as non-current on the balance sheet. This update is effective for fiscal years beginning after December 15, 2017. The guidance may be adopted prospectively or retrospectively and early adoption is permitted. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments. The amendments in this Update supersede the guidance to classify equity securities with readily determinable fair values into different categories and require equity securities to be measured at fair value with changes in the fair value recognized through net income. The amendments allow equity investments that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of impairment. The amendments in this Update also simplify the impairment assessment of equity investments without readily determinable fair values by requiring assessment for impairment qualitatively at each reporting period. In addition, the amendments in this Update exempt all entities that are not public business entities from disclosing fair value information for financial instruments measured at amortized cost. In addition, for public business entities, the amendments supersede the requirement to disclose the methods and significant assumptions used in calculating the fair value of financial instruments required to be disclosed for financial instruments measured at amortized cost on the balance sheet. The amendments in this Update require public business entities that are required to disclose fair value of financial instruments measured at amortized cost on the balance sheet to measure that fair value using the exit price notion consistent with Topic 820, Fair Value Measurement. The provisions within this Update require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option. This amendment excludes from net income gains or losses that the entity may not realize because those financial liabilities are not usually transferred or settled at their fair values before maturity. The amendments in this Update require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or in the accompanying notes to the financial statements. For public business entities, the amendments in ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases. From the lessee's perspective, the new standard establishes a right-of-use (ROU) model that requires a lessee to record ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting pattern of expense recognition in the income statement for a lessee. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements, with certain practical expedients available. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. This Update is being issued as part of the Simplification Initiative. The areas of simplification in this Update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some areas only apply to nonpublic entities. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments in this Update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For public business entities that are SEC filers, the amendments in this Update are effective for fiscal years beginning after December 15, 2019, including interim periods with those fiscal years. The adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements. |
Securities |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities |
The amortized cost and fair value of securities, with gross unrealized gains and losses, follows:
The amortized cost and fair value of securities by contractual maturity at June 30, 2016, follows:
There were no securities sold during the year ended June 30, 2016. For the year ended June 30, 2015, proceeds from the sale of securities available-for-sale amounted to $2.0 million and gross realized gains amounted to $10,000 and there were no gross realized losses for the year ended June 30, 2015. Information pertaining to securities with gross unrealized losses at June 30, 2016 and 2015, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:
The unrealized losses on the Company’s investment in mortgage-backed securities at June 30, 2016 and 2015 were caused by interest rate changes. The contractual cash flows of these investments are guaranteed by agencies of the U.S. government. Accordingly, it is expected that these securities would not be settled at a price less than the amortized cost of the Company’s investment. Because the decline in market value is attributable to changes in interest rates and not credit quality and because the Company has the ability and intent to hold these investments until a recovery of fair value, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at June 30, 2016. At June 30, 2016 and 2015, securities with a carrying value of $1.2 million and $1.8 million, respectively, were pledged to secure public deposits, and securities and mortgage loans with a carrying value of $127.0 million and $125.3 million, respectively, were pledged to secure FHLB advances. |
Loans Receivable |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans Receivable [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans Receivable |
Loans receivable at June 30, 2016 and 2015, are summarized as follows:
An analysis of the allowance for loan losses follows:
Fixed rate loans receivable as of June 30, 2016, are scheduled to mature and adjustable rate loans are scheduled to re-price as follows (in thousands):
Credit Quality Indicators The Company segregates loans into risk categories based on the pertinent information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans according to credit risk. Loans classified as substandard or identified as special mention are reviewed quarterly by management to evaluate the level of deterioration, improvement, and impairment, if any, as well as assign the appropriate risk category. Loans excluded from the scope of the quarterly review process above are generally identified as pass credits until: (a) they become past due; (b) management becomes aware of a deterioration in the credit worthiness of the borrower; or (c) the customer contacts the Company for a modification. In these circumstances, the loan is specifically evaluated for potential classification and the need to allocate reserves or charge-off. The Company uses the following definitions for risk ratings: Pass - Loans classified as pass are well protected by the current net worth or paying capacity of the obligor or by the fair value, less cost to acquire and sell, the underlying collateral in a timely manner. Special Mention - Loans identified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard - Loans classified as substandard are inadequately protected by the current net worth and payment capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loss - This classification includes those loans which are considered uncollectible and of such little value that their continuance as loans is not warranted. Even though partial recovery may be possible in the future, it is not practical or desirable to defer writing off these basically worthless loans. Accordingly, these loans are charged-off before period end. The following tables present the grading of loans, segregated by class of loans, as of June 30, 2016 and 2015:
Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when contractually due. Loans that experience insignificant payment delays or payment shortfalls are generally not classified as impaired. On a case-by-case basis, management determines the significance of payment delays and payment shortfalls, taking into consideration all of the circumstances related to the loan, including: the length of the payment delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. An aging analysis of past due loans, segregated by class of loans, as of June 30, 2016 and 2015, is as follows:
The allowance for loan losses and recorded investment in loans for the year ended June 30, 2016 and 2015, was as follows:
The following tables present loans individually evaluated for impairment, segregated by class of loans, as of June 30, 2016 and 2015:
The Bank has no commitments to loan additional funds to borrowers whose loans were previously in non-accrual status. The Bank had $2.0 million of troubled debt restructurings involving nine commercial business loans to one borrower at June 30, 2016. A summary of the loans that were restructured during the year ended June 30, 2016 is as follows (in thousands):
There were no troubled debt restructurings during the year ended June 30, 2015. For each of the years ended June 30, 2016 and 2015, approximately $1,000 of interest was foregone on non-accrual loans. Impaired loans consisted of non-accruing loans at June 30, 2016 and 2015, and TDRs at June 30, 2016. Impaired loans, segregated by class of loans, were as follows:
|
Accrued Interest Receivable |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Interest Receivable [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Interest Receivable |
Accrued interest receivable at June 30, 2016 and 2015, consisted of the following:
|
Premises and Equipment |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premises and Equipment [Abstract ] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premises and Equipment |
A summary of the cost and accumulated depreciation of premises and equipment follows:
Depreciation expense charged against operations for the years ended June 30, 2016 and 2015, was $441,000 and $384,000, respectively. |
Deposits |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits |
Deposits at June 30, 2016 and 2015, are summarized as follows:
The composition of certificates of deposit accounts by interest rate is as follows:
Maturities of certificates of deposit accounts at June 30, 2016, are scheduled as follows:
Interest expense on deposits for the years ended June 30, 2016 and 2015, was as follows:
The aggregate amount of time deposits in denominations of $100,000 or more at June 30, 2016 and 2015, was $85.7 million and $84.6 million, respectively. At June 30, 2016 and 2015, the Bank had brokered certificates of deposit totaling $8.2 and $12.7 million, respectively. The brokered certificates of deposit are callable by the Bank after twelve months. |
Advances from Federal Home Loan Bank of Dallas |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advances from Federal Home Loan Bank of Dallas [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advances from Federal Home Loan Bank of Dallas |
Pursuant to collateral agreements with the Federal Home Loan Bank of Dallas (FHLB), advances are secured by a blanket floating lien on first mortgage loans. Total interest expense recognized amounted to $263,000 and $244,000, for fiscal years 2016 and 2015, respectively. Advances at June 30, 2016 and 2015, consisted of the following:
Maturities of advances at June 30, 2016 are as follows (in thousands):
|
Other Borrowings |
12 Months Ended | ||
---|---|---|---|
Jun. 30, 2016 | |||
Other Borrowings [Abstract] | |||
Other Borrowings |
At June 30, 2016, the Company had available a $3.0 million line of credit agreement with a national bankers bank maturing June 21, 2017. The line is secured by 100 shares of the subsidiary Bank’s common stock and bears interest at an initial rate of 3.5%. At June 30, 2016, there was $400,000 drawn on this line of credit. Interest Expense amounted to $18,000 and $3,000 for the years ended June 30, 2016 and 2015, respectively. |
Commitments |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments |
Lease Commitments The Bank leases property for two branch facilities expiring in various years through May 2021. Future minimum rental payments resulting from the non-cancelable term of these leases are as follows (in thousands):
Total rent expense paid under the terms of these leases for the years ended June 30, 2016 and 2015, amounted to $81,000 and $61,000, respectively. 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):
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):
Letters of Credit At June 30, 2016, the Company had outstanding secured letters of credit in the aggregate amount of $22.8 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, 2016. |
Income Taxes |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes |
The Company and its subsidiary file consolidated federal income tax returns. The current provision for federal and state income taxes is calculated on pretax accounting income adjusted by items considered to be permanent differences between book and taxable income. Income tax expense for the years ended June 30, 2016 and 2015, is summarized as follows:
The effective federal income tax rate for the years ended June 30, 2016 and 2015, was 32.7% and 33.1%, respectively. Reconciliations of income tax expense at the statutory rate to the Company’s effective rates are as follows:
At June 30, 2016 and 2015, temporary differences between the financial statement carrying amount and tax bases of assets that gave rise to deferred tax recognition were related to the effect of loan bad debt deduction differences for tax and book purposes, deferred stock option compensation and non-deductible capital losses. The deferred tax expense or benefit related to securities available-for-sale has no effect on the Company’s income tax provision since it is charged or credited to the Company’s other comprehensive income or loss equity component. A valuation allowance has been established to eliminate the deferred tax benefit of capital losses due to the uncertainty as to whether the tax benefits would be realized in future periods. The net deferred income tax asset and liability consisted of the following components at June 30, 2016 and 2015:
In computing federal taxes on income under provisions of the Internal Revenue Code in years past, earnings appropriated by savings and loan associations to general reserves were deductible in arriving at taxable income if certain conditions were met. Bank retained earnings appropriated to the federal insurance reserve at June 30, 2016 and 2015, amounted to $4.0 million. Included were appropriations of net income of prior years of $3.3 million, for which no provision for federal income taxes has been made. If this portion of the reserve is used for any purpose other than to absorb losses, a tax liability will be imposed upon the Bank at the then current federal income tax rate. Accounting principles generally accepted in the United States of America provide accounting and disclosure guidance about positions taken by an entity in its tax returns that might be uncertain. The Company believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the consolidated financial statements. Penalties and interest assessed by income taxing authorities, if any, would be included in income tax expense. |
Employee Benefit Plans |
12 Months Ended | ||
---|---|---|---|
Jun. 30, 2016 | |||
Employee Benefit Plans [Abstract] | |||
Employee Benefit Plans |
Effective November 15, 2004, the Bank adopted the Home Federal Bank Employees’ Savings and Profit Sharing Plan and Trust. This plan complies with the requirements of Section 401(k) of the Internal Revenue Code. Those eligible for this defined contribution plan must have completed twelve months of full time service and attained age 21. For 2016, participating employees may make elective salary reduction contributions of up to $18,000, of their eligible compensation. The Bank will contribute a basic “safe harbor” contribution of 3% of participant plan salary and will match 50% of the first 6% of plan salary elective deferrals. The Bank is also permitted to make discretionary contributions to be allocated to participant accounts. Pension costs, including administrative fees, attributable to the Bank’s 401(k) safe harbor plan for the years ended June 30, 2016 and 2015, were $149,000 and $208,000 respectively. During fiscal year 2011, The Company established a Survivor Benefit Plan for the benefit of selected executives. The purpose of the plan is to provide benefits to designated beneficiaries if a participant dies while employed by the Company. The plan is considered an unfunded plan for tax and ERISA purposes and all obligations arising under the plan are payable from the general assets of the Company. At June 30, 2016 and 2015, there were no obligations requiring accrual for this plan. The Bank adopted a Supplemental Executive Retirement Agreement ("SERP") on December 27, 2012 (Effective Date) for its then Chief Executive Officer, Daniel R. Herndon. The agreement is to encourage Mr. Herndon to remain employed by the Bank until December 31, 2017 (Target Retirement Date), in exchange for retirement benefits payable in equal annual installments of $75,000 for eight consecutive years. Mr. Herndon will be 100% vested after an additional five years of service following the Effective Date, and shall vest ratably (i.e. 20% per year for five years) in the full retirement benefit for each year of service credit earned following the Effective Date. In the event of his death after a separation from service on or after December 31, 2017, and prior to receipt of eight years of Supplemental Retirement Benefits, the remainder will be payable each year to his designated beneficiary. In the event of his death while in active service, the designated beneficiary shall receive the full Supplemental Retirement Benefit in a single lump sum payment within thirty days following the date of death. In the event of his separation from service prior to December 31, 2017, whether with or without cause, Mr. Herndon shall be entitled to receive his accrued benefit payable in a lump sum on the first day of the next calendar quarter. Mr. Herndon shall be 100% vested in his accrued benefit at all times. The Bank adopted a Supplemental Executive Retirement Agreement ("SERP") effective as of January 1, 2013, (Effective Date) for its then Chief Financial Officer, Clyde D. Patterson. The agreement is to encourage Mr. Patterson to remain employed by the Bank until December 31, 2017 (Target Retirement Date), in exchange for supplemental retirement benefits payable in equal annual installments of $25,000 for ten consecutive years. Mr. Patterson will be 100% vested after an additional five years of service following the Effective Date, and shall vest ratably (i.e. 20% per year for five years) in the full retirement benefit for each year of service credit earned following the Effective Date. In the event of his death after a separation from service on or after December 31, 2017 and prior to receipt of ten years of Supplemental Retirement Benefits, the remainder will be payable each year to his designated beneficiary. In the event of his death while in active service, the designated beneficiary shall receive the full Supplemental Retirement Benefit in a single lump sum payment within thirty days following the date of death. In the event of his separation from service prior to December 31, 2017, whether with or without cause, Mr. Patterson shall be entitled to receive his accrued benefit payable in a lump sum on the first day of the next calendar quarter. Mr. Patterson shall be 100% vested in his accrued benefit at all times. For the years ended June 30, 2016 and 2015, the Company recorded compensation expense totaling $142,246 and $137,436, respectively, to accrue the benefits required by the SERP agreements. The Bank’s future compensation expense under these agreements is approximately $140,000 to $170,000 per year through December 2017. |
Employee Stock Ownership Plan |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee Stock Ownership Plan [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee Stock Ownership Plan |
During fiscal 2006, the Company instituted an employee stock ownership plan. The Home Federal Bank Employee Stock Ownership Plan (ESOP) enables all eligible employees of the Bank to share in the growth of the Company through the acquisition of stock. Employees are generally eligible to participate in the ESOP after completion of one year of service and attaining the age of 21. The ESOP purchased the statutory limit of eight percent of the shares sold in the initial public offering of the Mid-Tier Company completed on January 18, 2005, excluding shares issued to Home Federal Mutual Holding Company of Louisiana (113,887 shares of Mid-Tier Company). This purchase was facilitated by a loan from the Mid-Tier Company to the ESOP in the amount of $1.1 million. As a result of the second step conversion, the ESOP became a stock benefit plan of the Company and the Mid-Tier Company’s stock was exchanged for shares of the Company. The corresponding note is being repaid in 80 quarterly debt service payments of $23,000 on the last business day of each quarter, beginning March 31, 2005, at the rate of 5.25%. As part of the conversion described in Note 1, the ESOP purchased 116,713 shares of the Company, which represented 6.0% of the shares sold in the conversion. This purchase was facilitated by a loan from the Company to the ESOP in the amount of $1.2 million. The corresponding note is being repaid in 80 quarterly debt service payments of $20,000 on the last business day of each quarter, beginning March 31, 2011, at the rate of 3.2%. The loans are secured by a pledge of the ESOP shares. The shares pledged as collateral are reported as unearned ESOP shares in the consolidated balance sheets. The notes payable and the corresponding notes receivable have been eliminated in consolidation. The Company may contribute to the ESOP, in the form of debt service, at the discretion of its board of directors. Cash dividends on the Company’s unallocated stock shall be used to either repay the loan or be distributed to the participants in the ESOP. If dividends are used to repay the loan, additional shares will be released from the suspense account and allocated to participants. Shares are released for allocation to ESOP participants based on principal and interest payments of the note. Compensation expense is recognized based on the number of shares allocated to ESOP participants each year and the average market price of the stock for the current year. Released ESOP shares become outstanding for earnings per share computations. As compensation expense is incurred, the unearned ESOP shares account is reduced based on the original cost of the stock. The difference between the cost and the average market price of shares released for allocation is applied to additional paid-in capital. ESOP compensation expense for the years ended June 30, 2016 and 2015, was $258,000 and $225,000, respectively. The ESOP shares as of June 30, 2016 and 2015, were as follows:
|
Stock-Based Compensation |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation |
Recognition and Retention Plans On August 10, 2005, the shareholders of the Company approved the establishment of the Home Federal Bancorp, Inc. of Louisiana 2005 Recognition and Retention Plan and Trust Agreement (the 2005 Recognition Plan) as an incentive to retain personnel of experience and ability in key positions. As a result of the second step conversion, the 2005 Recognition Plan became a stock benefit plan of the Company, and the Mid-Tier Company’s common stock was exchanged for stock of the Company. The aggregate number of shares of the Company’s common stock subject to award under the 2005 Recognition Plan totaled 63,547 (as adjusted for the conversion described in Note 1). As shares were acquired for the 2005 Recognition Plan, the purchase price of these shares was recorded as a contra equity account. As the shares are distributed, the contra equity account is reduced. The 2005 Recognition Plan terminated on June 8, 2015 and the remaining 564 shares vested on August 19, 2015. On December 23, 2011, the shareholders of the Company approved the establishment of the Home Federal Bancorp, Inc. of Louisiana 2011 Recognition and Retention Plan and Trust Agreement (the 2011 Recognition Plan, together with the 2005 Recognition Plan, the Recognition Plan) as an incentive to retain personnel of experience and ability in key positions. The aggregate number of shares of the Company’s common stock available under the 2011 Recognition Plan totaled 77,808 shares, all of which have been awarded. Recognition Plan shares are earned by recipients at a rate of 20% of the aggregate number of shares covered by the Recognition Plan award over five years. If the employment of an employee or service as a non-employee director is terminated prior to the fifth anniversary of the date of grant of Recognition Plan share award for any reason other than the recipient’s death, disability, or following a change in control of the Company, the recipient shall forfeit the right to any shares subject to the awards that have not been earned. The cost associated with the 2005 Recognition Plan is based on a share price of $10.93 (as adjusted), which represents the market price of the Company’s stock on the date on which the 2005 Recognition Plan shares were granted. The cost associated with the 2011 Recognition Plan is based on share prices of $14.70 and $18.92 on January 31, 2012 and July 31, 2014, respectively, which represents the fair market price of the Company’s stock on the dates on which the 2011 Recognition Plan shares were granted. The cost of the Recognition Plan is being recognized over the five year vesting period. Compensation expense pertaining to the Recognition Plan was $232,000 and $235,000, for the years ended June 30, 2016 and 2015, respectively. A summary of the changes in restricted stock follows:
Stock Option Plans On August 10, 2005, the shareholders of the Company approved the establishment of the Home Federal Bancorp, Inc. of Louisiana 2005 Stock Option Plan (the 2005 Option Plan) for the benefit of directors, officers, and other employees. The aggregate number of shares of common stock reserved for issuance under the Option Plan totaled 158,868 (as adjusted for the conversion described in Note 1). Both incentive stock options and non-qualified stock options may be granted under the plan. The 2005 Stock Option Plan terminated on June 8, 2015, however outstanding stock options will remain in effect for the remainder of their original ten year terms. On December 23, 2011, the shareholders of the Company approved the establishment of the Home Federal Bancorp, Inc. of Louisiana 2011 Stock Option Plan (the 2011 Option Plan, together with the 2005 Option Plan, the Option Plan) for the benefit of directors, officers, and other employees. The aggregate number of shares of common stock reserved for issuance under the 2011 Option Plan totaled 194,522. Both incentive stock options and non-qualified stock options may be granted under the Option Plan. On August 18, 2005, the Company granted 158,858 options (as adjusted for the conversion described in Note 1) to directors and employees. Under the Option Plan, the exercise price of each option cannot be less than the fair market value of the underlying common stock as of the date of the option grant, which was $10.82 (as adjusted), and the maximum term is ten years. As of August 18, 2015 all of the awards were either exercised or forfeited. On August 19, 2010 and July 31, 2014, the Company granted 21,616 options and 2,133 options, respectively, under the 2005 Option Plan that were previously forfeited (as adjusted for the conversion), at an exercise price of $10.93 and $18.92 per share, respectively. On January 31, 2012 and July 31, 2014, 165,344 options and 29,178 options, respectively, were granted to directors and employees at an exercise price of $14.70 and $18.92 per share, respectively, under the 2011 Option Plan. As of June 30, 2016 there were no stock options available for future grant under the 2005 Option Plan or the 2011 Option Plan. Incentive stock options and non-qualified stock options granted under the Option Plan become vested and exercisable at a rate of 20% per year over five years, commencing one year from the date of the grant, with an additional 20% vesting on each successive anniversary of the date the option was granted. No vesting shall occur after an employee’s employment or service as a director is terminated. In the event of death or disability of an employee or director or change in control of the Company, the unvested options shall become vested and exercisable. The Company recognizes compensation expense during the vesting period based on the fair value of the option on the date of the grant. At June 30, 2016 and 2015, compensation expense charged to operations was $170,000 and $178,000, respectively. Stock Incentive Plan On November 12, 2014, the shareholders of the Company approved the adoption of the Company’s 2014 Stock Incentive Plan (the “Stock Incentive Plan”) for the benefit of employees and non-employee directors as an incentive to contribute to the success of the Company and reward employees for outstanding performance and the attainment of targeted goals. The Stock Incentive Plan covers a total of 150,000 shares, of which no more than 37,500 shares, or 25% of the plan, may be share rewards. The balance of the plan is reserved for stock option awards which would total 112,500 stock options assuming all the share awards are issued. All incentive stock options granted under the Stock Incentive Plan are intended to comply with the requirements of Section 422 of the Internal Revenue Code. On October 26, 2015, the Company granted a total of 34,500 plan share awards and 103,500 stock options to directors, officers, and other key employees vesting ratably over five years. The Stock Incentive Plan cost is recognized over the five year vesting period. For the year ended June 30, 2016, the Company recognized $134,000 in expenses related to the Stock Incentive Plan. Stock Options Following is a summary of the status of the options granted under the Option Plan and Stock Incentive Plan during the fiscal years ended June 30, 2016 and 2015:
The fair value of each option granted is estimated on the grant date using the Black-Scholes model. The following assumptions were made in estimating fair value. The fair value of the options granted under the 2005 option plan has been adjusted for the exchange ratio as a result of the second-step conversion:
A summary of the status of the Company’s nonvested options as of June 30, 2016, and changes during the year ended June 30, 2016, is as follows:
|
Off-Balance Sheet Activities |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Off-Balance Sheet Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Off-Balance Sheet Activities |
Credit Related Financial Instruments The Bank is a party to credit related financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments consist primarily of commitments to extend credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The Bank’s exposure to credit loss in the event of non-performance by the other party to loan commitments is represented by the contractual amount of the commitment. The Bank follows the same credit policies in making commitments as it does for on-balance sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require a payment of a fee. The commitments for equity lines of credit may expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The amount and type of collateral obtained, if deemed necessary by the Bank upon extension of credit, varies and is based on management’s credit evaluation of the counterparty. No material gains or losses are anticipated as a result of these transactions. At June 30, 2016 and 2015, the following financial instruments were outstanding:
Cash Deposits The Company periodically maintains cash balances in financial institutions that are in excess of insured amounts. The Company has not experienced any losses and does not believe that significant credit risk exists as a result of this practice. Regional Credit Concentration A substantial portion of the Bank’s lending activity is with customers located within a 100 mile radius of the Shreveport, Louisiana metropolitan area, which includes areas of northwest Louisiana, northeast Texas and southwest Arkansas. Although concentrated within the region, the Bank has a diversified loan portfolio, which should preclude the Bank from being dependent upon the well-being of any particular economic sector to ensure collectability of any significant portion of its debtors’ loan contracts. Other Credit Concentrations The Bank has purchased, with recourse from the seller, a significant number of loans from third-party mortgage originators. These loans are serviced by these entities. At June 30, 2016 and 2015, the balance of the loans outstanding being serviced by these entities was $7.6 million and $7.9 million, respectively. Interest Rate Floors and Caps The Bank writes interest rate floors and caps into its variable rate mortgage loan contracts and loan servicing agreements in an attempt to manage its interest rate exposure. Such floors and caps enable customers to transfer, modify, or reduce their interest rate risk, which, in turn, creates an off-balance sheet market risk to the Bank. At June 30, 2016, the Bank's loan portfolio contained approximately $21.4 million of loans in which the loan contracts or servicing agreements possessed interest rate floors and caps. Of this amount, $7.6 million consisted of purchased loans, which were originated by third-party mortgage originators. |
Related Party Events |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Events [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Events |
In the ordinary course of business, the Bank makes loans to its directors and officers. These loans are made on substantially the same terms and conditions, including interest rates and collateral, as those prevailing at the same time for comparable transactions with other customers, and do not involve more than normal credit risk or present other unfavorable features. An analysis of the activity in loans made to such borrowers (both direct and indirect), including lines of credit, is summarized as follows for the years ended June 30, 2016 and 2015:
Deposits from related parties held by the Bank at June 30, 2016 and 2015, amounted to $3.7 million and $3.3 million, respectively. |
Regulatory Matters |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Matters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Matters |
The Bank is subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly other discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital requirements that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance-sheet items, as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Bank is required to maintain minimum capital ratios under OCC regulatory guidelines in order to ensure capital adequacy. Management believes, as of June 30, 2016 and 2015, that the Bank met all OCC capital adequacy requirements to which it is subject. As of June 30, 2016, the most recent notification from the OCC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum capital ratios, which are different than those required to meet OCC capital adequacy requirements. There are no conditions or events since that notification that management believes may have changed the Bank’s category. The Bank was also classified as well capitalized at June 30, 2016. The Bank’s actual and required capital amounts and ratios for OCC regulatory capital adequacy purposes are presented below as of June 30, 2016 and 2015:
The Bank’s actual and required capital amounts and ratios to be well capitalized under prompt corrective action provisions are presented below as of June 30, 2016 and 2015:
The actual and required capital amounts and ratios applicable to the Bank for the years ended June 30, 2016 and 2015, are presented in the following tables, including a reconciliation of capital under generally accepted accounting principles (GAAP) to such amounts reported for regulatory purposes:
|
Restrictions on Dividends |
12 Months Ended | ||
---|---|---|---|
Jun. 30, 2016 | |||
Restrictions on Dividends [Abstract] | |||
Restrictions on Dividends |
Federal banking regulations place certain restrictions on dividends paid by the Bank to the Company. The total amount of dividends which may be paid is generally limited to the net income of the Bank for the year to date, plus the retained net income for the preceding two years. |
Fair Value Disclosures |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures |
The following disclosure is made in accordance with the requirements of ASC 825, Financial Instruments. Financial instruments are defined as cash and contractual rights and obligations that require settlement, directly or indirectly, in cash. In cases where quoted market prices are not available, fair values have been estimated using the present value of future cash flows or other valuation techniques. The results of these techniques are highly sensitive to the assumptions used, such as those concerning appropriate discount rates and estimates of future cash flows, which require considerable judgment. Accordingly, estimates presented herein are not necessarily indicative of the amounts the Company could realize in a current settlement of the underlying financial instruments. ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. These disclosures should not be interpreted as representing an aggregate measure of the underlying value of the Company. The following methods and assumptions were used by the Company in estimating fair values of financial instruments: Cash and Cash Equivalents The carrying amount approximates the fair value of cash and cash equivalents. Investment Securities Fair values for investment securities, including mortgage-backed securities, are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. The carrying values of restricted or non-marketable equity securities approximate their fair values. The carrying amount of accrued investment income approximates its fair value. Mortgage Loans Held-for-Sale Because these loans are normally disposed of within ninety days of origination, their carrying value closely approximates the fair value of such loans. Loans Receivable For variable-rate loans that re-price frequently and with no significant changes in credit risk, fair value approximates the carrying value. Fair values for other loans are estimated using the discounted value of expected future cash flows. Interest rates used are those being offered currently for loans with similar terms to borrowers of similar credit quality. The carrying amount of accrued interest receivable approximates its fair value. Deposit Liabilities The fair values for demand deposit accounts are, by definition, equal to the amount payable on demand at the reporting date, that is, their carrying amounts. Fair values for other deposit accounts are estimated using the discounted value of expected future cash flows. The discount rate is estimated using the rates currently offered for deposits of similar maturities. Advances from Federal Home Loan Bank The carrying amount of short-term borrowings approximates their fair value. The fair value of long-term debt is estimated using discounted cash flow analyses based on current incremental borrowing rates for similar borrowing arrangements. Off-Balance Sheet Credit-Related Instruments Fair values for outstanding mortgage loan commitments to lend are based on fees currently charged to enter into similar agreements, taking into account the remaining term of the agreements, customer credit quality, and changes in lending rates. The fair value of interest rate floors and caps contained in some loan servicing agreements and variable rate mortgage loan contracts are considered immaterial within the context of fair value disclosure requirements. Accordingly, no fair value estimate is provided for these instruments. At June 30, 2016 and 2015, the carrying amount and estimated fair values of the Company’s financial instruments were as follows:
The estimated fair values presented above could be materially different than net realizable value and are only indicative of the individual financial instrument’s fair value. Accordingly, these estimates should not be considered an indication of the fair value of the Company taken as a whole. The Company follows the guidance of ASC 820, Fair Value Measurements. ASC 820 establishes a framework for measuring fair value and expands disclosures about fair value measurements. This standard was issued to establish a uniform definition of fair value. The definition of fair value under ASC 820 is market-based as opposed to company-specific, and includes the following:
The standard establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy favors the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows:
A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The preceding methods described may produce a fair value calculation that may not be indicative of the net realizable value or reflective of future fair values. Furthermore, although the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used during the year ended June 30, 2016. Fair values of assets and liabilities measured on a recurring basis at June 30, 2016 and 2015, are as follows:
The Company did not record any liabilities at fair market value for which measurement of the fair value was made on a recurring basis at June 30, 2016 or 2015. The following tables present the Company’s assets and liabilities measured at fair value on a non-recurring basis at June 30, 2016 and 2015.
|
Earnings Per Common Share |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Common Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Common Share |
The following table presents the components of average outstanding common shares for the years ended June 30, 2016 and 2015:
Earnings per share are computed using the weighted average number of shares outstanding as prescribed in GAAP. The share amounts have been adjusted for the conversion completed on December 22, 2010 and the exchange of Mid-Tier Company common stock for shares of the Company at an exchange ratio of 0.9110. For the years ended June 30, 2016 and 2015, there were outstanding options to purchase 304,477 and 208,461 shares, respectively, at $17.79 per share for 2016 and $15.03 per share for 2015. |
Subsequent Events |
12 Months Ended | ||
---|---|---|---|
Jun. 30, 2016 | |||
Subsequent Events [Abstract] | |||
Subsequent Events |
In accordance with FASB ASC 855, Subsequent Events, the Company has evaluated subsequent events through the date that the financial statements were available to be issued. |
Parent Company Financial Statements |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Parent Company Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Parent Company Financial Statements |
Financial information pertaining only to Home Federal Bancorp, Inc. of Louisiana as of June 30, 2016 and 2015, is as follows: HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Balance Sheets June 30, 2016 and 2015
HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Statements of Operations For the Years Ended June 30, 2016 and 2015
HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Statements of Cash Flows For the Years Ended June 30, 2016 and 2015
|
Summary of Significant Accounting Policies (Policies) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Significant Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nature of Operations | Nature of Operations On December 22, 2010, Home Federal Mutual Holding Company completed its second step conversion from the mutual holding company form of organization to the fully public stock holding company structure pursuant to a Plan of Conversion and Reorganization. Upon completion of the conversion, Home Federal Bancorp, Inc. of Louisiana, a newly formed Louisiana chartered corporation (the Company), became the holding company for Home Federal Bank (the Bank), and Home Federal Mutual Holding Company of Louisiana and Home Federal Bancorp, Inc. of Louisiana, a federally chartered corporation, (the Mid-Tier Company) ceased to exist. As part of the conversion, all outstanding shares of the Mid-Tier Company common stock (other than those owned by Home Federal Mutual Holding Company) were converted into the right to receive 0.9110 of a share of the newly formed Home Federal Bancorp, Inc. of Louisiana common stock resulting in approximately 1,100,609 shares issued in the exchange and cash in lieu of fractional shares. In addition, a total of 1,945,220 shares of common stock, par value $0.01 per share, of Home Federal Bancorp, Inc. of Louisiana were sold in subscription, community and syndicated community offerings to certain depositors and borrowers of the Bank, the Bank’s Employee Stock Ownership Plan, and other investors for $10.00 per share, or $19.5 million in aggregate. Treasury stock held was cancelled in the conversion. The net proceeds of the offering were approximately $18.0 million, after offering expenses. The Bank is a federally chartered, stock savings and loan association and is subject to federal regulation by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (the OCC). The Bank provides financial services to individuals, corporate entities and other organizations through the origination of loans and the acceptance of deposits in the form of passbook savings, certificates of deposit, and demand deposit accounts. Services are provided by six branch offices, four of which are located in Shreveport, Louisiana and two in Bossier City, Louisiana. The Bank’s home office is located in Shreveport, Louisiana. The Bank is subject to competition from other financial institutions, and is also subject to the regulations of certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis of Presentation and Consolidation | Basis of Presentation and Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Home Federal Bank. All significant intercompany balances and transactions have been eliminated. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Use of Estimates | Use of Estimates In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (GAAP), management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheets and reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the allowance for loan losses and deferred taxes. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Significant Group Concentrations of Credit Risk | Significant Group Concentrations of Credit Risk Most of the Company’s activities are provided to customers of the Bank by six branch offices, four of which are located in the city of Shreveport, Louisiana and two in Bossier City, Louisiana. The area served by the Bank is primarily the Shreveport-Bossier City metropolitan area; however, loan and deposit customers are found dispersed in a wider geographical area covering much of northwest Louisiana. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of the Consolidated Statements of Cash Flows, cash and cash equivalents include cash on hand, balances due from banks, and federal funds sold, all of which have an original maturity date of ninety days or less. At June 30, 2016 and 2015, cash and cash equivalents consisted of the following:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities | Securities Securities are being accounted for in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 320, Investments - Debt and Equity Securities. ASC 320 requires the classification of securities into one of three categories: Trading, Available-for-Sale, or Held-to-Maturity. Management determines the appropriate classification of debt securities at the time of purchase and re-evaluates this classification periodically. Investments in non-marketable equity securities and debt securities, in which the Company has the positive intent and ability to hold to maturity, are classified as held-to-maturity and carried at cost, adjusted for amortization of the related premiums and accretion of discounts, using the interest method. Investments in debt securities that are not classified as held-to-maturity and marketable equity securities that have readily determinable fair values are classified as either trading or available-for-sale securities. Securities that are acquired and held principally for the purpose of selling in the near term are classified as trading securities. Investments in securities not classified as trading or held-to-maturity are classified as available-for-sale. Trading account and available-for-sale securities are carried at fair value. Unrealized holding gains and losses on trading securities are included in earnings while net unrealized holding gains and losses on available-for-sale securities are excluded from earnings and reported in other comprehensive income. The Company held no trading securities as of June 30, 2016 and 2015. Purchase premiums and discounts are recognized in interest income using the interest method over the term of the securities. Declines in the fair value of held-to-maturity and available-for-sale securities below their cost that are deemed to be other than temporary are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans Held-for-Sale | Loans Held-for-Sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans | Loans Loans receivable are stated at unpaid principal balances, less allowances for loan losses and unamortized deferred loan fees. Net non-refundable fees (loan origination fees, commitment fees, discount points) and costs associated with lending activities are being deferred and subsequently amortized into income as an adjustment of yield on the related interest earning assets using the interest method. Interest income on contractual loans receivable is recognized on the accrual method. Unearned discounts are deferred and amortized on the interest method over the life of the loan. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of the underlying collateral, and prevailing economic conditions. The evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available. A loan is considered impaired when, based on current information or events, it is probable that the Bank will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. When a loan is impaired, the measurement of such impairment is based upon the fair value of the collateral of the loan. If the fair value of the collateral is less than the recorded investment in the loan, the Bank will recognize the impairment by creating a valuation allowance with a corresponding charge against earnings. A loan is considered a troubled debt restructuring ("TDR") if the Company, for economic or legal reasons related to a debtor's financial difficulties, grants a concession to the debtor that it would not otherwise consider. Concessions granted under a TDR typically involve a temporary or permanent reduction in payments or interest rate or an extension of a loan's stated maturity date at less than a current market rate of interest. Loans identified as TDRs are designated as impaired. An allowance is also established for uncollectible interest on loans classified as substandard. The allowance is established by a charge to interest income equal to all interest previously accrued and income is subsequently recognized only to the extent that cash payments are received. When, in management’s judgment, the borrower’s ability to make periodic interest and principal payments is back to normal, the loan is returned to accrual status. It should be understood that estimates of future loan losses involve an exercise of judgment. While it is possible that in particular periods the Company may sustain losses, which are substantial relative to the allowance for loan losses, it is the judgment of management that the allowance for loan losses reflected in the accompanying statements of condition is adequate to absorb known and inherent losses in the existing loan portfolio both probable and reasonable to estimate. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Off-Balance Sheet Credit Related Financial Instruments | Off-Balance Sheet Credit Related Financial Instruments In the ordinary course of business, the Bank has entered into commitments to extend credit. Such financial instruments are recorded when they are funded. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Foreclosed Assets | Foreclosed Assets Assets acquired through, or in lieu of, loan foreclosure are held-for-sale and are carried at the lower of cost or current fair value minus estimated cost to sell as of the date of foreclosure. Cost is defined as the lower of the fair value of the property or the recorded investment in the loan. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premises and Equipment | Premises and Equipment Land is carried at cost. Buildings and equipment are carried at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets. Estimated useful lives are as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bank-Owned Life Insurance | Bank-Owned Life Insurance The Company has purchased life insurance contracts on the lives of certain key employees. The Bank is the beneficiary of these policies. These contracts are reported at their cash surrender value and changes in the cash surrender value are included in non-interest income. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes | Income Taxes The Company and its wholly-owned subsidiary file a consolidated federal income tax return on a fiscal year basis. Each entity will pay its pro-rata share of income taxes in accordance with a written tax-sharing agreement. The Company accounts for income taxes on the asset and liability method. Deferred tax assets and liabilities are recorded based on the difference between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income and recoverable taxes paid in prior years. Current taxes are measured by applying the provisions of enacted tax laws to taxable income to determine the amount of taxes receivable or payable. The Company follows the provisions of the Income Taxes Topic of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740. ASC 740 prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on various related matters such as derecognition, interest, penalties, and disclosures required. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits in income tax expense. While the Bank is exempt from Louisiana income tax, it is subject to the Louisiana Ad Valorem Tax, commonly referred to as the Louisiana Shares Tax, which is based on stockholders’ equity and net income. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings per Share | Earnings per Share Earnings per share are computed based upon the weighted average number of common shares outstanding during the year. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-Direct Response Advertising | Non-Direct Response Advertising The Company expenses all advertising costs, except for direct-response advertising, as incurred. Non-direct response advertising costs were $236,000 and $249,000 for the years ended June 30, 2016 and 2015, respectively. In the event the Company incurs expense for material direct-response advertising, it will be amortized over the estimated benefit period. Direct-response advertising consists of advertising whose primary purpose is to elicit sales to customers who could be shown to have responded specifically to the advertising and results in probable future benefits. For the years ended June 30, 2016 and 2015, the Company did not incur any amount of direct-response advertising. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation | Stock-Based Compensation GAAP requires all share-based payments to employees, including grants of employee stock options and recognition and retention share awards, to be recognized as expense in the statement of operations based on their fair values. The amount of compensation is measured at the fair value of the options or recognition and retention share awards when granted, and this cost is expensed over the required service period, which is normally the vesting period of the options or recognition and retention awards. This guidance applies to awards granted or modified after January 1, 2006, or any unvested awards outstanding prior to that date. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassification | Reclassification Certain financial statement balances included in the prior year consolidated financial statements have been reclassified to conform to the current year presentation. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive Income | Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains, and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available-for-sale securities, are reported as a separate component of the equity section of the Consolidated Balance Sheets, such items, along with net income, are components of comprehensive income. The components of other comprehensive income and related tax effects are as follows:
The components of accumulated other comprehensive income, included in stockholders’ equity, are as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity | Stockholders’ Equity On January 1, 2015 Louisiana Business Corporation Act (the Act) became effective. Under the provisions of the Act, there is no concept of “Treasury Shares”. Rather, shares purchased by the Company constitute authorized but unissued shares. Under Accounting Standards Codification (ASC) 505-30, Treasury Stock, accounting for treasury stock shall conform to state law. Accordingly, the Company’s Consolidated Statements of Changes in Stockholders’ Equity for the year ended June 30, 2015 reflects this change. The cost of shares purchased by the Company has been allocated to Common Stock and Retained Earnings balances. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers. The amendments in ASU 2014-09 supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The general principle of ASU 2014-09 requires an entity to recognize revenue upon the transfer of promised goods or services to customers in an amount that reflects the consideration of which the entity expects to be entitled in exchange for those goods or services. The guidance sets forth a five step approach to be utilized for revenue recognition. In August 2015, the FASB issued ASU 2015-14 which deferred the effective date of ASU 2014-09 making it effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. In April 2016, the FASB issued ASU 2016-10 which does not change the core principle of the guidance in Topic 606. The amendments in this Update clarify the following two aspects of Topic 606: identifying performance obligations and the licensing implementation guidance, while retaining the related principles for those areas. In May 2016, the FASB issued ASU 2016-12 which does not change the core principle of the guidance in Topic 606. The amendments in this Update affect only certain narrow aspects of Topic 606. Management is currently assessing the impact to the Company's consolidated financial statements. In August 2014, the FASB issued ASU 2014-13, Consolidation (Topic 810): Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity. The amendments of ASU 2014-13 allow for a reporting entity that consolidates a collateralized financing entity within the scope of the guidance to elect to measure the financial assets and the financial liabilities of that collateralized financing entity using the measurement alternative. Under the measurement alternative, the reporting entity should measure both the financial assets and the financial liabilities of that collateralized financing entity in its consolidated financial statements using the more observable of the fair value of the financial assets and the fair value of the financial liabilities. The amendments are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In August 2014, the FASB issued ASU 2014-14, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40). The amendments in this Update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is non-separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor, and make a claim on the guaranty, and the creditor has the ability to recover under that claim, and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The amendments in this Update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. This Update did not have a significant impact on the Company's consolidated financial statements. In January 2015, the FASB issued ASU 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. The amendments of ASU 2015-01 eliminate from Generally Accepted Accounting Principles the concept of extraordinary items. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In April 2015, the FASB issued ASU-2015-03, Interest – Imputation of Interest (Subtopic 325-30): Simplifying the Presentation of Debt Issuance Costs. The amendments in ASU 2015-03 are intended to simplify the presentation of debt issuance costs. These amendments required that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct reduction from the carrying amount of the debt liability, consistent with debt discounts. The recognition and measurement guidance of debt issuance costs are not affected by the amendments in this ASU. The amendments are effective for fiscal years beginning after December 15, 2015, and interim periods within fiscal years beginning after December 15, 2016. Early adoption is permitted for financial statements that have not been previously issued. In August 2015, the FASB issued ASU 2015-05, which modifies ASU 2015-03 to include line of credit arrangements. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. This ASU eliminates the requirement to retrospectively account for changes to provisional amounts initially recorded in a business combination. ASU 2015-16 requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustments are determined, including the effect of the change in provisional amount as if the accounting had been completed at the acquisition date. The provisions of this ASU are effective for fiscal years beginning after December 15, 2015, and should be applied prospectively to adjustments to provisional amounts that occur after the effective date. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In November 2015, the FASB issued ASU No. 2015-17, Income Taxes: Balance Sheet Classification of Deferred Taxes, which simplifies the presentation of deferred taxes by requiring deferred tax assets and liabilities to be classified as non-current on the balance sheet. This update is effective for fiscal years beginning after December 15, 2017. The guidance may be adopted prospectively or retrospectively and early adoption is permitted. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments. The amendments in this Update supersede the guidance to classify equity securities with readily determinable fair values into different categories and require equity securities to be measured at fair value with changes in the fair value recognized through net income. The amendments allow equity investments that do not have readily determinable fair values to be remeasured at fair value either upon the occurrence of an observable price change or upon identification of impairment. The amendments in this Update also simplify the impairment assessment of equity investments without readily determinable fair values by requiring assessment for impairment qualitatively at each reporting period. In addition, the amendments in this Update exempt all entities that are not public business entities from disclosing fair value information for financial instruments measured at amortized cost. In addition, for public business entities, the amendments supersede the requirement to disclose the methods and significant assumptions used in calculating the fair value of financial instruments required to be disclosed for financial instruments measured at amortized cost on the balance sheet. The amendments in this Update require public business entities that are required to disclose fair value of financial instruments measured at amortized cost on the balance sheet to measure that fair value using the exit price notion consistent with Topic 820, Fair Value Measurement. The provisions within this Update require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option. This amendment excludes from net income gains or losses that the entity may not realize because those financial liabilities are not usually transferred or settled at their fair values before maturity. The amendments in this Update require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or in the accompanying notes to the financial statements. For public business entities, the amendments in ASU 2016-01 are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases. From the lessee's perspective, the new standard establishes a right-of-use (ROU) model that requires a lessee to record ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting pattern of expense recognition in the income statement for a lessee. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements, with certain practical expedients available. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. This Update is being issued as part of the Simplification Initiative. The areas of simplification in this Update involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. Some areas only apply to nonpublic entities. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. The adoption of this guidance is not expected to have a material effect on the Company's consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments in this Update replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. For public business entities that are SEC filers, the amendments in this Update are effective for fiscal years beginning after December 15, 2019, including interim periods with those fiscal years. The adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements. |
Summary of Significant Accounting Policies (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Significant Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Cash and Cash Equivalents | At June 30, 2016 and 2015, cash and cash equivalents consisted of the following:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated Useful Lives | Estimated useful lives are as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Other Comprehensive Income and Related Tax Effects | The components of other comprehensive income and related tax effects are as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Accumulated Other Comprehensive Income Included in Stockholders' Equity | The components of accumulated other comprehensive income, included in stockholders’ equity, are as follows:
|
Securities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost and Fair Value of Securities, with Gross Unrealized Gains and Losses | The amortized cost and fair value of securities, with gross unrealized gains and losses, follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Amortized Cost and Fair Value of Securities by Contractual Maturity | The amortized cost and fair value of securities by contractual maturity at June 30, 2016, follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Information Pertaining to Securities with Gross Unrealized Losses, Continuous Loss Position | Information pertaining to securities with gross unrealized losses at June 30, 2016 and 2015, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:
|
Loans Receivable (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans Receivable [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Loans Receivable | Loans receivable at June 30, 2016 and 2015, are summarized as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Analysis of Allowance for Loan Losses | An analysis of the allowance for loan losses follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed Rate Loans and Adjustable Rate Loans Receivable | Fixed rate loans receivable as of June 30, 2016, are scheduled to mature and adjustable rate loans are scheduled to re-price as follows (in thousands):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Grading of Loans, Segregated by Class of Loans | The following tables present the grading of loans, segregated by class of loans, as of June 30, 2016 and 2015:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aging Analysis of Past Due Loans Segregated by Class of Loans | An aging analysis of past due loans, segregated by class of loans, as of June 30, 2016 and 2015, is as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans | The allowance for loan losses and recorded investment in loans for the year ended June 30, 2016 and 2015, was as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans Individually Evaluated for Impairment Segregated by Class of Loans | The following tables present loans individually evaluated for impairment, segregated by class of loans, as of June 30, 2016 and 2015:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Loans That Were Restructured | A summary of the loans that were restructured during the year ended June 30, 2016 is as follows (in thousands):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired Loans Segregated by Class of Loans | Impaired loans, segregated by class of loans, were as follows:
|
Accrued Interest Receivable (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Interest Receivable [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Accrued Interest Receivable | Accrued interest receivable at June 30, 2016 and 2015, consisted of the following:
|
Premises and Equipment (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Premises and Equipment [Abstract ] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Cost and Accumulated Depreciation of Premises and Equipment | A summary of the cost and accumulated depreciation of premises and equipment follows:
|
Deposits (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Deposits | Deposits at June 30, 2016 and 2015, are summarized as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Composition of Certificates of Deposit Accounts by Interest Rate | The composition of certificates of deposit accounts by interest rate is as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturities of Certificates of Deposit Accounts | Maturities of certificates of deposit accounts at June 30, 2016, are scheduled as follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Expense on Deposits | Interest expense on deposits for the years ended June 30, 2016 and 2015, was as follows:
|
Advances from Federal Home Loan Bank of Dallas (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advances from Federal Home Loan Bank of Dallas [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Advances | Advances at June 30, 2016 and 2015, consisted of the following:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Maturities of Advances | Maturities of advances at June 30, 2016 are as follows (in thousands):
|
Commitments (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||
Commitments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
Future Minimum Rental Payments Resulting from Non-cancelable Term of Leases | Future minimum rental payments resulting from the non-cancelable term of these leases are as follows (in thousands):
|
|||||||||||||||||||||||||||||||||||||||||||||
Future Minimum Commitments for On-line Processing Services | The future minimum commitments for the on-line processing services are as follows (in thousands):
|
|||||||||||||||||||||||||||||||||||||||||||||
Future Minimum Commitments for Employment Contracts | The future minimum commitments for employment contracts are as follows (in thousands):
|
Income Taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summarized Income Tax Expense | Income tax expense for the years ended June 30, 2016 and 2015, is summarized as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reconciliations of Income Tax Expense at Statutory Rate to Company's Effective Rates | Reconciliations of income tax expense at the statutory rate to the Company’s effective rates are as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Net Deferred Income Tax Asset and Liability | The net deferred income tax asset and liability consisted of the following components at June 30, 2016 and 2015:
|
Employee Stock Ownership Plan (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee Stock Ownership Plan [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ESOP Shares | The ESOP shares as of June 30, 2016 and 2015, were as follows:
|
Stock-Based Compensation (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Changes in Restricted Stock | A summary of the changes in restricted stock follows:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Status of Option Plan | Following is a summary of the status of the options granted under the Option Plan and Stock Incentive Plan during the fiscal years ended June 30, 2016 and 2015:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assumptions Used in Estimating Fair Value of Each Option Granted | The fair value of the options granted under the 2005 option plan has been adjusted for the exchange ratio as a result of the second-step conversion:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Status of Nonvested Options | A summary of the status of the Company’s nonvested options as of June 30, 2016, and changes during the year ended June 30, 2016, is as follows:
|
Off-Balance Sheet Activities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Off-Balance Sheet Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments Outstanding | At June 30, 2016 and 2015, the following financial instruments were outstanding:
|
Related Party Events (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Events [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summarized Analysis of Activity in Loans Made to Borrowers | An analysis of the activity in loans made to such borrowers (both direct and indirect), including lines of credit, is summarized as follows for the years ended June 30, 2016 and 2015:
|
Regulatory Matters (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Regulatory Matters [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual and Required Capital Amounts and Ratios for OCC Regulatory Capital Adequacy Purposes | The Bank’s actual and required capital amounts and ratios for OCC regulatory capital adequacy purposes are presented below as of June 30, 2016 and 2015:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual and Required Capital Amounts and Ratios to be Well Capitalized under Prompt Corrective Action Provisions | The Bank’s actual and required capital amounts and ratios to be well capitalized under prompt corrective action provisions are presented below as of June 30, 2016 and 2015:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Actual and Required Capital Amounts and Ratios Applicable to the Bank | The actual and required capital amounts and ratios applicable to the Bank for the years ended June 30, 2016 and 2015, are presented in the following tables, including a reconciliation of capital under generally accepted accounting principles (GAAP) to such amounts reported for regulatory purposes:
|
Fair Value Disclosures (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying Amount and Estimated Fair Values of Financial Instruments | At June 30, 2016 and 2015, the carrying amount and estimated fair values of the Company’s financial instruments were as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Values of Assets and Liabilities Measured on a Recurring Basis | Fair values of assets and liabilities measured on a recurring basis at June 30, 2016 and 2015, are as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | The following tables present the Company’s assets and liabilities measured at fair value on a non-recurring basis at June 30, 2016 and 2015.
|
Earnings Per Common Share (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Common Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Average Outstanding Common Shares | The following table presents the components of average outstanding common shares for the years ended June 30, 2016 and 2015:
|
Parent Company Financial Statements (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Parent Company Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Balance Sheets | HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Balance Sheets June 30, 2016 and 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Statements of Operations | HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Statements of Operations For the Years Ended June 30, 2016 and 2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Condensed Statements of Cash Flows | HOME FEDERAL BANCORP, INC. OF LOUISIANA Condensed Statements of Cash Flows For the Years Ended June 30, 2016 and 2015
|
Loans Receivable, Analysis of Allowance for Loan Losses (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Summary of changes in the allowance for loan losses [Roll Forward] | ||
Balance - Beginning of Year | $ 2,515 | $ 2,396 |
Provision for Loan Losses | 271 | 300 |
Recoveries | 59 | 0 |
Loan Charge-Offs | 0 | (181) |
Balance - End of Year | $ 2,845 | $ 2,515 |
Loans Receivable, Troubled Debt Restructurings (Details) $ in Thousands |
12 Months Ended | |
---|---|---|
Jun. 30, 2016
USD ($)
Borrower
Contract
|
Jun. 30, 2015
USD ($)
|
|
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | $ 0 | |
Number of contracts | Contract | 9 | |
Pre-modification recorded investment | $ 1,990 | |
Post-modification recorded investment | $ 1,990 | |
Troubled debt restructurings that subsequent default, number of contracts | Contract | 0 | |
Troubled debt restructurings that subsequent default, pre-modification recorded investment | $ 0 | |
Troubled debt restructurings that subsequent default, post-modification recorded investment | 0 | |
Commercial Business Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Troubled debt restructurings | $ 2,000 | |
Number of borrowers involved in troubled debt restructuring | Borrower | 1 |
Accrued Interest Receivable (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Jun. 30, 2015 |
---|---|---|
Accrued Interest Receivable [Line Items] | ||
Total | $ 1,024 | $ 927 |
Mortgage Loans [Member] | ||
Accrued Interest Receivable [Line Items] | ||
Total | 872 | 772 |
Other Loans [Member] | ||
Accrued Interest Receivable [Line Items] | ||
Total | 58 | 58 |
Investments [Member] | ||
Accrued Interest Receivable [Line Items] | ||
Total | 3 | 3 |
Mortgage-Backed Securities [Member] | ||
Accrued Interest Receivable [Line Items] | ||
Total | $ 91 | $ 94 |
Premises and Equipment (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | $ 14,665 | $ 12,232 |
Accumulated Depreciation | (2,299) | (2,044) |
Total | 12,366 | 10,188 |
Depreciation expense | 441 | 384 |
Land [Member] | ||
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | 4,043 | 3,434 |
Buildings [Member] | ||
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | 8,328 | 6,125 |
Equipment [Member] | ||
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | 1,368 | 1,348 |
Construction in Progress [Member] | ||
Summary of cost and accumulated depreciation of premises and equipment [Abstract] | ||
Gross, Total | $ 926 | $ 1,325 |
Other Borrowings (Details) - USD ($) |
12 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Other Borrowings [Abstract] | ||
Amount available under line of credit agreement | $ 3,000,000 | |
Line of credit facility, maturing date | Jun. 21, 2017 | |
Line of credit secured by shares (in shares) | 100 | |
Initial interest rate of secured line of credit during period | 3.50% | |
Line of credit outstanding | $ 400,000 | $ 0 |
Line of credit, interest expense | $ 18,000 | $ 3,000 |
Income Taxes (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Summarized income tax expense [Abstract] | ||
Current | $ 1,795 | $ 1,725 |
Deferred | (151) | (64) |
Total | $ 1,644 | $ 1,661 |
Effective federal income tax rate | 32.70% | 33.10% |
Reconciliations of income tax expense at the statutory rate [Abstract] | ||
Computed at Expected Statutory Rate | $ 1,707 | $ 1,706 |
Non-Taxable Income | (54) | (56) |
Other | (9) | 11 |
Total | 1,644 | 1,661 |
Deferred Tax Assets [Abstract] | ||
Stock Option Compensation | 166 | 127 |
Loans Receivable - Bad Debt Loss Allowance | 861 | 749 |
Capital Losses | 110 | 110 |
Gross Deferred Tax Assets | 1,137 | 986 |
Valuation Allowance | (110) | (110) |
Net Deferred Tax Assets | 1,027 | 876 |
Deferred Tax Liabilities [Abstract] | ||
Market Value Adjustment to Available-for-Sale Securities | (43) | (52) |
Net Deferred Tax Assets | 984 | 824 |
Retained earnings appropriated to federal insurance reserve | 4,000 | 4,000 |
Prior year net income appropriated to federal insurance reserve | $ 3,300 | $ 3,300 |
Related Party Events (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Summarized analysis of activity in loans made to borrowers [Roll Forward] | ||
Balance - Beginning of Year | $ 3,761 | $ 2,510 |
Additions | 507 | 2,488 |
Principal Payments | (496) | (1,237) |
Balance - End of Year | 3,772 | 3,761 |
Deposits from related parties held by the Bank | $ 3,700 | $ 3,300 |
Restrictions on Dividends (Details) |
12 Months Ended |
---|---|
Jun. 30, 2016 | |
Restrictions on Dividends [Abstract] | |
Period of retained net income available for distribution | year to date, plus the retained net income for the preceding two years |
Fair Value Disclosures (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Mortgage Loans Held-for-Sale [Abstract] | ||
Number of days from origination to dispose Mortgage Loans Held-for-Sale, maximum | 90 days | |
Financial Assets [Abstract] | ||
Securities Available-for-Sale | $ 50,173 | $ 44,885 |
Securities to be Held-to-Maturity | 2,349 | 2,010 |
Carrying Value [Member] | ||
Financial Assets [Abstract] | ||
Cash and Cash Equivalents | 4,756 | 21,166 |
Securities Available-for-Sale | 50,173 | 44,885 |
Securities to be Held-to-Maturity | 2,349 | 2,010 |
Loans Held-for-Sale | 11,919 | 14,203 |
Loans Receivable | 290,827 | 268,427 |
Financial Liabilities [Abstract] | ||
Deposits | 287,822 | 286,238 |
Advances from FHLB | 47,665 | 38,411 |
Off-Balance Sheet Items [Abstract] | ||
Off-balance sheet liabilities | 296 | 290 |
Estimated Fair Value [Member] | ||
Financial Assets [Abstract] | ||
Cash and Cash Equivalents | 4,756 | 21,166 |
Securities Available-for-Sale | 50,173 | 44,885 |
Securities to be Held-to-Maturity | 2,349 | 2,010 |
Loans Held-for-Sale | 11,919 | 14,203 |
Loans Receivable | 290,339 | 267,157 |
Financial Liabilities [Abstract] | ||
Deposits | 285,503 | 266,442 |
Advances from FHLB | 47,802 | 38,751 |
Off-Balance Sheet Items [Abstract] | ||
Off-balance sheet liabilities | $ 296 | $ 290 |
Fair Value Disclosures, Recurring and Nonrecurring (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Jun. 30, 2015 |
---|---|---|
Available for sale debt securities [Abstract] | ||
Total | $ 50,173 | $ 44,885 |
FHLMC [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 10,793 | 284 |
FNMA [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 27,223 | 27,807 |
GNMA [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 12,157 | 16,794 |
Recurring [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 50,173 | 44,885 |
Recurring [Member] | Level 1 [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 0 | 0 |
Recurring [Member] | Level 2 [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 50,173 | 44,885 |
Recurring [Member] | Level 3 [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 0 | 0 |
Recurring [Member] | FHLMC [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 10,793 | 284 |
Recurring [Member] | FHLMC [Member] | Level 1 [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 0 | 0 |
Recurring [Member] | FHLMC [Member] | Level 2 [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 10,793 | 284 |
Recurring [Member] | FHLMC [Member] | Level 3 [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 0 | 0 |
Recurring [Member] | FNMA [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 27,223 | 27,807 |
Recurring [Member] | FNMA [Member] | Level 1 [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 0 | 0 |
Recurring [Member] | FNMA [Member] | Level 2 [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 27,223 | 27,807 |
Recurring [Member] | FNMA [Member] | Level 3 [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 0 | 0 |
Recurring [Member] | GNMA [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 12,157 | 16,794 |
Recurring [Member] | GNMA [Member] | Level 1 [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 0 | 0 |
Recurring [Member] | GNMA [Member] | Level 2 [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 12,157 | 16,794 |
Recurring [Member] | GNMA [Member] | Level 3 [Member] | ||
Available for sale debt securities [Abstract] | ||
Total | 0 | 0 |
Non-recurring [Member] | ||
Assets [Abstract] | ||
Impaired Loans, Net of Allowance | 13 | 13 |
Total | 13 | 13 |
Non-recurring [Member] | Level 1 [Member] | ||
Assets [Abstract] | ||
Impaired Loans, Net of Allowance | 0 | 0 |
Total | 0 | 0 |
Non-recurring [Member] | Level 2 [Member] | ||
Assets [Abstract] | ||
Impaired Loans, Net of Allowance | 0 | 0 |
Total | 0 | 0 |
Non-recurring [Member] | Level 3 [Member] | ||
Assets [Abstract] | ||
Impaired Loans, Net of Allowance | 13 | 13 |
Total | $ 13 | $ 13 |
Earnings Per Common Share (Details) |
12 Months Ended | |||
---|---|---|---|---|
Dec. 22, 2010 |
Jun. 30, 2016
$ / shares
shares
|
Jun. 30, 2015
$ / shares
shares
|
Jun. 30, 2014
$ / shares
shares
|
|
Components of average outstanding common shares [Abstract] | ||||
Average Common Shares Issued (in shares) | 2,045,179 | 2,172,944 | ||
Average Unearned ESOP Shares (in shares) | (138,784) | (150,314) | ||
Average Unearned RRP Trust Shares (in shares) | (29,007) | (44,398) | ||
Weighted Average Number of Common Shares Used in Basic EPS (in shares) | 1,877,388 | 1,978,232 | ||
Effect of Dilutive Securities Stock Options (in shares) | 64,314 | 53,627 | ||
Weighted Average Number of Common Shares and Diluted Potential Common Shares Used in Dilutive EPS (in shares) | 1,941,702 | 2,031,859 | ||
Exchange ratio of common stock | 0.9110 | 0.9110 | ||
Outstanding options to purchase shares (in shares) | 304,477 | 208,461 | 198,480 | |
Per share price of outstanding options (in dollars per share) | $ / shares | $ 17.79 | $ 15.03 | $ 13.99 |
Parent Company Financial Statements (Details) - USD ($) $ in Thousands |
12 Months Ended | |||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Assets [Abstract] | ||||
Cash and Cash Equivalents | $ 21,166 | $ 21,166 | $ 4,756 | $ 21,166 |
Other Assets | 780 | 798 | ||
Total Assets | 381,701 | 369,833 | ||
Liabilities and Stockholders' Equity [Abstract] | ||||
Borrowings | 400 | 0 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 381,701 | 369,833 | ||
Condensed Statements of Operations [Abstract] | ||||
Interest Income | 15,458 | 14,772 | ||
Interest Expense | 2,610 | 2,481 | ||
Income Before Income Taxes | 5,021 | 5,016 | ||
Income Tax Benefit | 1,644 | 1,661 | ||
Net Income | 3,377 | 3,355 | ||
Operating Activities [Abstract] | ||||
Net Income | 3,377 | 3,355 | ||
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities [Abstract] | ||||
(Increase) Decrease in Other Assets | 57 | (424) | ||
Increase in Other Liabilities | 229 | 130 | ||
Net Cash Provided By Used In Operating Activities | 7,052 | (716) | ||
Financing Activities [Abstract] | ||||
Proceeds from Stock Options Exercised | 85 | 180 | ||
Proceeds of Borrowings | 2,200 | 550 | ||
Repayment of Borrowings | (1,800) | (550) | ||
Company Stock Purchased | (3,353) | (2,923) | ||
Dividends Paid | (660) | (613) | ||
Net Cash Provided by Financing Activities | 7,485 | 36,251 | ||
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (16,410) | 7,533 | ||
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 21,166 | 13,633 | ||
CASH AND CASH EQUIVALENTS, END OF YEAR | 4,756 | 21,166 | ||
Parent Company [Member] | ||||
Assets [Abstract] | ||||
Cash and Cash Equivalents | 90 | 388 | 90 | 388 |
Investment in Subsidiary | 43,360 | 42,764 | ||
Other Assets | 409 | 247 | ||
Total Assets | 43,859 | 43,399 | ||
Liabilities and Stockholders' Equity [Abstract] | ||||
Borrowings | 400 | 0 | ||
Other Liabilities | 67 | 13 | ||
Stockholders' Equity | 43,392 | 43,386 | ||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 43,859 | $ 43,399 | ||
Condensed Statements of Operations [Abstract] | ||||
Equity in Undistributed Earnings of Subsidiary | 3,612 | 3,543 | ||
Interest Income | 85 | 90 | ||
Total Income | 3,697 | 3,633 | ||
Operating Expenses | 423 | 372 | ||
Interest Expense | 18 | 3 | ||
Total Expense | 441 | 375 | ||
Income Before Income Taxes | 3,256 | 3,258 | ||
Income Tax Benefit | (121) | (97) | ||
Net Income | 3,377 | 3,355 | ||
Operating Activities [Abstract] | ||||
Net Income | 3,377 | 3,355 | ||
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities [Abstract] | ||||
Equity in Undistributed Earnings of Subsidiary | (3,612) | (3,543) | ||
(Increase) Decrease in Other Assets | (162) | 31 | ||
Increase in Other Liabilities | 54 | 0 | ||
Net Cash Provided By Used In Operating Activities | (343) | (157) | ||
Financing Activities [Abstract] | ||||
Distribution from Subsidiary | 3,000 | 3,000 | ||
Proceeds from Stock Options Exercised | 85 | 180 | ||
Proceeds of Borrowings | 2,200 | 550 | ||
Repayment of Borrowings | (1,800) | (550) | ||
Proceeds Received from Subsidiary on Stock Compensation Programs | 573 | 679 | ||
Company Stock Purchased | (3,353) | (2,923) | ||
Dividends Paid | (660) | (613) | ||
Net Cash Provided by Financing Activities | 45 | 323 | ||
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (298) | 166 | ||
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 388 | 222 | ||
CASH AND CASH EQUIVALENTS, END OF YEAR | $ 90 | $ 388 |
&^CUU1ZYVD]2OKO@;W&(8E<",,B-4Z!V.<,3,.:$
MK/'_0?/;TA&O]Q?UW[Y;6_V):GB2[*TI3&V+C2-40$D[9EYD_P>&%K9.,)=,
M^R_*.VTDOU BQ.E'6!OAUSZ,0#;9E !@*9$7 P\F7^HH9FJ9(]TBUU_VZU
MMW#E1*PRLK5I'_KN0_: YHXJ4_30-@T9?@TARCQMKV
M@+$I&A#4/*D6I#NIE!;4NE#7V+0::!E(@F,2QRD6E,DHST+N7>>9ZBQG$MXU
M,IT05/\[ 5?],=I$U\0'JQOK$SC/\,0KF0!IF))(0W6,GC>'4^H1 ?";06_N
M]LC7?E;JTP<_RV,4^Q* 0V&] G7+!5Z Q&G3)PW
M$](P?:P>JWRS+NG1"UU@]A&3!