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Consolidated Statements of Income - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Mar. 31, 2015
Mar. 31, 2014
Interest income:        
Loans $ 1,783,244 $ 1,585,704 $ 5,375,096 $ 5,014,429
Securities 44,785 56,609 149,350 120,176
Other 9,013 6,807 14,749 15,352
Total interest income 1,837,042 1,649,120 5,539,195 5,149,957
Interest expense:        
Deposits 244,525 193,669 685,483 565,775
Federal Home Loan Bank borrowings 118,557 60,239 240,669 181,101
Other 279 964 279 6,130
Total interest expense 363,361 254,872 926,431 753,006
Net interest income 1,473,681 1,394,248 4,612,764 4,396,951
Provision for loan losses (857,717) (49) (710,837) (768,986)
Net interest income after provision for loan losses 2,331,398 1,394,297 5,323,601 5,165,937
NON-INTEREST INCOME:        
Service charges on deposit accounts 128,908 133,514 427,605 435,072
Brokerage fee income 153,505 136,377 426,337 391,973
Gain on sale of loans 71,276 160,130 487,516 386,786
Other loan fees 59,488 59,439 187,577 125,501
Other income 20,926 13,665 69,722 53,764
Total non-interest income 434,103 503,125 1,598,757 1,393,096
NON-INTEREST EXPENSE:        
Salaries and employee benefits 1,040,508 963,497 3,201,451 2,909,044
Director and committee fees 33,150 30,800 99,100 94,400
Data processing fees 125,191 123,289 200,988 398,994
Occupancy and equipment 226,665 230,801 678,711 669,423
Regulatory fees and deposit insurance premium 52,279 41,521 143,063 134,267
Advertising and public relations 69,124 72,717 154,829 171,600
Insurance and surety bond premiums 22,521 21,387 68,913 64,480
Professional fees 12,743 21,258 140,666 169,351
Supplies, telephone and postage 55,474 67,087 186,677 201,517
Other expenses 108,724 234,195 390,685 447,691
Total non-interest expense 1,746,379 1,806,552 5,265,083 5,260,767
Income before income taxes 1,019,122 90,870 1,657,275 1,298,266
Income tax expense (403,995) (41,084) (540,221) (436,198)
Net income $ 615,127 $ 49,786 $ 1,117,054 $ 862,068
Basic earnings per share (in dollars per share) $ 0.20 $ 0.02 $ 0.36 $ 0.28
Diluted earnings per share (in dollars per share) $ 0.20 $ 0.02 $ 0.36 $ 0.28