Disclosures About Fair Value of Assets and Liabilities (Tables)

6 Months Ended

Dec. 31, 2012

Fair Value Measurements of Assets Recognized on Recurring Basis

The following table presents the fair value measurements of assets and liabilities recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2012 and June 30, 2012:

			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2012:
Available-for-sale securities:
US Government and federal agency	$	127,317	$	—	$	127,317	$	—
Mortgage-backed securities – GSE residential		71,421		—		71,421		—
State and political subdivisions		4,176		—		4,176		—
Mortgage servicing rights		356		—		—		356

			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 30, 2012:
Available-for-sale securities:
US Government and federal agency	$	160,958	$	—	$	160,958	$	—
Mortgage-backed securities – GSE residential		58,867		—		58,867		—
State and political subdivisions		3,481		—		3,481		—
Mortgage servicing rights		329		—		—		329

Reconciliation of Beginning and Ending Balances of Recurring Fair Value Measurements Recognized in Accompanying Balance Sheet

The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying balance sheet using significant unobservable (Level 3) inputs:

	Mortgage Servicing Rights
Balance, July 1, 2012	$	329
Total realized and unrealized gains and losses included in net income		(20	)
Servicing rights that result from asset transfers		82
Payments received and loans refinanced		(35	)
Balance, December 31, 2012	$	356
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date	$	(20	)

Fair Value Measurement of Assets Recognized on Nonrecurring Basis

The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2012 and June 30, 2012:

			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2012:
Impaired loans (collateral-dependent)	$	512	$	—	$	—	$	512
June 30, 2012:
Impaired loans (collateral-dependent)	$	2,438	$	—	$	—	$	2,438
Foreclosed assets		279		—		—		279

Losses Recognized on Assets Measured on Non-Recurring Basis

The following table presents losses recognized on assets measured on a non-recurring basis for the three months and six months ended December 31, 2012 and 2011:

	Three Months Ended December 31,						Six Months Ended December 31,
	2012			2011			2012			2011
Impaired loans (collateral-dependent)	$	(25,000	)	$	(61,000	)	$	(41,000	)	$	(146,000	)
Foreclosed and repossessed assets held for sale		—			(2,000	)		—			(2,000	)
Total losses on assets measured on a non-recurring basis	$	(25,000	)	$	(63,000	)	$	(41,000	)	$	(148,000	)

Quantitative Information about Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements

The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements at December 31, 2012 and June 30, 2012.

	Fair Value at December 31, 2012		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Mortgage servicing rights	$	356	Discounted cash flow	Discount rate	10.5% – 11.5% (10.5%)
				Constant prepayment rate	18.9% – 24.5% (23.1%)
				Probability of default	.29% – .32% (.32%)
Collateral-dependent impaired loans		512	Market comparable properties	Marketability discount	0% – 24% (16%)

	Fair Value at June 30, 2012		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Mortgage servicing rights	$	329	Discounted cash flow	Discount rate	10.5% –11.5% (10.5%)
				Constant prepayment rate	16.9% –22.4% (21.0%)
				Probability of default	.29% – .32% (.32%)
Collateral-dependent impaired loans		2,438	Market comparable properties	Marketability discount	0% – 24% (15%)
Foreclosed assets		279	Market comparable properties	Comparability adjustments (%)	12% – 24% (19%)

Fair Value of Letters of Credit and Lines of Credit are Based on Fees Currently Charged for Similar Agreements or on Estimated Cost

The following tables present estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2012 and June 30, 2012.

	Carrying Amount		Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2012:
Financial assets
Cash and cash equivalents	$	11,344	$	11,344	$	—	$	—
Interest-bearing time deposits in banks		250		250		—		—
Loans, net of allowance for loan losses		284,814		—		—		291,882
Federal Home Loan Bank stock		5,075		—		5,075		—
Accrued interest receivable		1,684		—		1,684		—
Financial liabilities
Deposits		354,590		—		147,410		207,180
Federal Home Loan Bank advances		75,500		—		77,827		—
Advances from borrowers for taxes and insurance		1,078		—		1,078		—
Accrued interest payable		42		—		42		—
Unrecognized financial instruments (net of contract amount)
Commitments to originate loans		—		—		—		—
Lines of credit		—		—		—		—

Fair Value Unobservable Inputs Quantitative Information

	Fair Value at December 31, 2012		Valuation Technique		Unobservable Inputs	Range (Weighted Average)
Loans, net of allowance for loan losses	$	291,882		Discounted cash flow	Current rate sheets		1.5% –11.9% (4.4%)
Deposits		207,180		Discounted cash flow	Current rate sheets		0.3% – 1.3% (0.8%)

	Carrying Amount		Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 30, 2012:
Financial assets
Cash and cash equivalents	$	8,193	$	8,193	$	—	$	—
Interest-bearing time deposits in banks		250		250		—		—
Loans, net of allowance for loan losses		258,910		—		—		262,954
Federal Home Loan Bank stock		4,175		—		4,175		—
Accrued interest receivable		1,861		—		1,861		—
Financial liabilities
Deposits		344,485		—		144,293		200,893
Federal Home Loan Bank advances		75,000		—		74,496		—
Advances from borrowers for taxes and insurance		955		—		955		—
Accrued interest payable		43		—		43		—
Unrecognized financial instruments (net of contract amount)
Commitments to originate loans		—		—		—		—
Lines of credit		—		—		—		—

	Fair Value at June 30, 2012		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Loans, net of allowance for loan losses	$	262,954	Discounted cash flow	Current rate sheets	1.5% – 11.9% (4.4%)
Deposits		200,893	Discounted cash flow	Current rate sheets	0.3% – 1.3% (0.8%)