INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2015

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the provision for income taxes are summarized as follows:

	For the year ended
	June 30,
	2015		2014
	(In thousands)
Current tax expense:
Federal	$	397	$	256
State		142		74
		539		330

Deferred tax expense (benefit):
Federal		(129)		295
State		15		34
		(114)		329

	$	425	$	659

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effect of temporary differences that give rise to significant portions of deferred tax assets and deferred tax liabilities at June 30, 2015 and 2014 are as follows:

	June 30,
	2015		2014
	(In thousands)
Deferred tax assets arising from:
Loan loss allowance	$	1,969	$	2,098
Reserve for loss on real estate owned		77		77
Vacation and bonus accrual		226		181
Supplemental retirement		415		379
Stock-based compensation		161		153
Acquisition-related expenses		122		135
State depreciation differences		53		59
Yield adjustment for purchased loans		227		310
Nonaccrual interest		94		72
AMT credit carryforward		592		391
Unrealized loss in market value of investments		343		698
Post-retirement health care benefits		50		49
Total deferred tax assets		4,329		4,602

Deferred tax liabilities arising from:
Mortgage servicing rights		(199)		(277)
Depreciation		(277)		(311)
Deferred loan fees		(456)		(430)
Amortization of intangible assets		(129)		(74)
Total deferred tax liabilities		(1,061)		(1,092)

Net deferred tax asset	$	3,268	$	3,510

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The rate reconciliation is as follows:

	For the year ended
	June 30,
	2015			2014
	(In thousands)

Federal income taxes at statutory rate	$	1,007		$	999
State taxes, net of federal benefit		102			83
Increase (decrease) in taxes resulting primarily from:
Non-taxable income on bank-owned life insurance		(180)			(174)
Tax exempt income		(463)			(263)
Other		(48)			14

	$	418		$	659

Effective tax rate		14.36	%		22.43	%