Note 16 - Commitments and Contingencies:

12 Months Ended

Jun. 30, 2012

Commitments and Contingencies Disclosure [Text Block]

Note 16 – Commitments and Contingencies:

The Company has commitments to extend credit provided there is no violation of any condition in the terms of the approval or agreement.  At June 30, 2012 and 2011, the Company had approved lease and loan commitments of $116.8 million and $92.5 million, respectively.  These lease and loan commitments are approved transactions, but it is likely that some portion of these commitments will not fund or be completed.  The Company does not issue standby letters of credit.

Leases

The Company leases its corporate offices under an operating lease that expires in fiscal 2014.  Rent expense was $935,000 (2012), $946,000 (2011) and $932,000 (2010).

	Future minimum
	lease payments
Years ending June 30,	(in thousands)
2013	$	1,683
2014		282
2015		-
	$	1,965

Litigation

From time to time, the Company is party to legal actions and administrative proceedings and subject to various claims arising out of the Company’s normal business activities.  Management does not expect the outcome of any of these matters, individually and in the aggregate, to have a material adverse effect on the financial condition and results of operations of the Company.

401(k) Plan

Employees of the Company may participate in a voluntary defined contribution plan (the "401K Plan") qualified under Section 401(k) of the Internal Revenue Code of 1986. Under the 401K Plan, employees who have met certain age and service requirements may contribute up to a certain percentage of their compensation.  The Company has made contributions of $106,939 (2012), $117,842 (2011) and $107,561 (2010).