Note 3 - Securities Available For Sale:

12 Months Ended

Jun. 30, 2012

Available-for-sale Securities [Table Text Block]

Note 3 - Securities Available for Sale:

The amortized cost, fair value, and carrying value of available-for-securities were as follows:

	at June 30, 2012
(in thousands)	Amortized		Gross Unrealized					Fair
	Cost		Gains		Losses			Value
Corporate bonds	$	60,402	$	1,081	$	(309	)	$	61,174
Municipal bonds		415		28		-			443
Mutual fund investments		1,306		117		-			1,423
Equity investments		422		135		-			557
Total securities available-for-sale	$	62,545	$	1,361	$	(309	)	$	63,597

	at June 30, 2011
	Amortized		Gross Unrealized					Fair
	Cost		Gains		Losses			Value
Corporate bonds	$	57,791	$	2,291	$	-		$	60,082
Municipal bonds		867		20		-			887
Mutual fund investments		1,306		-		(98	)		1,208
Equity investments		422		105		-			527
Total securities available-for-sale	$	60,386	$	2,416		(98	)	$	62,704

The $309,000 unrealized loss at June 30, 2012 is attributable primarily to changes in market spreads for certain securitiesand not credit quality, and because the Company has the intent to hold the securities and more likely than not will not need to sell them, the Company does not consider these investments to be other-than-temporarily impaired at June 30, 2012.

The amortized cost and estimated fair value of available-for-sale securities at June 30, 2012, by contractual maturity, are shown below.  Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Fair Value
	(in thousands)
Due three months or less	$	2,000	$	2,000
Due after three months but less than one year		4,960		5,187
Due after one year but less than 5 years		53,857		54,430
Due after five years		-		-
No stated maturity		1,728		1,980
Total securities available-for-sale	$	62,545	$	63,597

The following table presents the Company’s gross realized gains and gross realized losses on available-for-sale securities.  These gains and losses were recognized using the specific identification method and were included in non-interest income.

(in thousands)	Available-for-sale
	For the years ended June 30,
	2012		2011		2010
Gross realized gains	$	56	$	2,342	$	3,463
Gross realized losses		-		-		(27	)
Other than temporary impairment		-		-		-
Total	$	56	$	2,342	$	3,436

The following table presents the fair value and associated gross unrealized loss only on an available-for-sale security with a gross unrealized loss at June 30, 2012 and 2011.

	Less than 12 Months					12 Months or More				Total
	Unrealized			Estimated		Unrealized		Estimated		Unrealized			Estimated
	Loss			Fair Value		Loss		Fair Value		Loss			Fair Value
	(in thousands)
At June 30, 2012
Corporate bonds	$	(309	)	$	20,451	$	-	$	-	$	(309	)	$	20,451
Total	$	(309	)	$	20,451	$	-	$	-	$	(309	)	$	20,451
At June 30, 2011
Mutual fund investment	$	(98	)	$	1,208	$	-	$	-	$	(98	)	$	1,208
Total	$	(98	)	$	1,208	$	-	$	-	$	(98	)	$	1,208

At June 30, 2012 and 2011, there were no securities pledged to secure borrowings from the FHLB.