Federal, State and Local Income Taxes (Tables)

12 Months Ended

Apr. 30, 2015

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes

	Fiscal Years Ended April 30,
($ in thousands)	2015			2014			2013
Current tax expense (benefit):
Federal	$	3,197		$	2,707		$	2,679
State and local		243			239			130
		3,440			2,946			2,809
Deferred tax expense (benefit):
Federal		(83	)		572			728
State and local		(154	)		(108	)		350
		(237	)		464			1,078
Income tax provision:	$	3,203		$	3,410		$	3,887

Schedule of components of deferred tax asset and deferred tax liability

	Fiscal Years Ended April 30,
($ in thousands)	2015			2014
Federal tax benefit (liability):
Unrealized gains on securities available-for-sale	$	(57	)	$	(134	)
Operating lease exit obligation		70			70
Deferred professional fees		34			36
Deferred charges		263			327
Total federal tax benefit		310			299
State and local tax benefits:
Other - deferred charges		46			65
Total state and local tax benefits		46			65
Deferred tax asset, short term	$	356		$	364
	Fiscal Years Ended April 30,
($ in thousands)		2015			2014
Federal tax liability (benefit):
Deferred gain on deconsolidation of EAM	$	17,679		$	17,679
Deferred non-cash post-employment compensation		(619	)		(619	)
Depreciation and amortization		2,435			2,416
Other		401			646
Total federal tax liability		19,896			20,122
State and local tax liabilities (benefits):
Deferred gain on deconsolidation of EAM		1,970			2,181
Deferred non-cash post-employment compensation		(69	)		(76	)
Depreciation and amortization		271			298
Deferred professional fees		(4	)		(5	)
Total state and local tax liabilities		2,168			2,398
Deferred tax liability, long term	$	22,064		$	22,520

Schedule of effective income tax rate reconciliation

	Fiscal Years Ended April 30,
	2015			2014			2013
U.S. statutory federal rate		35.00	%		35.00	%		35.00	%
Increase (decrease) in tax rate from:
State and local income taxes, net of federal income tax benefit		-0.15	%		0.84	%		2.96	%
Effect of dividends received deductions		-0.40	%		-0.33	%		-0.27	%
Write off goodwill		-1.62	%		-			-
Domestic production tax credit		-0.44	%		-0.58	%		-0.52	%
Other, net		-1.87	%		-1.43	%		-0.17	%
Effective income tax rate		30.52	%		33.50	%		37.00	%