Note 7 - Securities Available-For-Sale: (Securities Available-For-Sale [Member])

9 Months Ended

Mar. 31, 2013

Securities Available-For-Sale [Member]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

NOTE 7 – SECURITIES AVAILABLE FOR SALE:

The amortized cost and fair value of securities at March 31, 2013 were as follows:

(in thousands)	Amortized		Gross Unrealized				Fair
	Cost		Gains		Losses		Value
Corporate debt securities	$	47,645	$	990	$	-	$	48,635
Securities of state and political subdivisions		413		29		-		442
Mutual fund investments		1,306		94		-		1,400
Equity investments		422		228		-		650
Total securities available-for-sale	$	49,786	$	1,341	$	-	$	51,127

The amortized cost and fair value of securities at June 30, 2012 were as follows:

(in thousands)	Amortized		Gross Unrealized					Fair
	Cost		Gains		Losses			Value
Corporate debt securities	$	60,402	$	1,081	$	(309	)	$	61,174
Securities of state and political subdivisions		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

The amortized cost and estimated fair value of available-for-sale securities at March 31, 2013, by contractual maturity, are shown below.  Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Fair Value
	(in thousands)
Due in one year or less	$	26,106	$	26,405
Due after one year but less than 5 years		21,952		22,672
Due after five years		-		-
No stated maturity		1,728		2,050
Total securities available-for-sale	$	49,786	$	51,127

Gross realized gains and gross realized losses on securities available for sale are summarized below. During the nine months ended March 31, 2013, the Company realized a gain of $316,000 from the sale and tender of corporate bonds for proceeds of $12.8 million.  During the nine months ended March 31, 2012, the Company realized a gain of $56,000 from the early call of a corporate bond for proceeds of $3.1 million. These net gains are recognized using the specific identification method and are included in non-interest income.

	Nine months ended
	March 31,
	2013		2012
	(in thousands)
Gross realized gains	$	316	$	56
Gross realized losses		-		-
Total	$	316	$	56

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.  At March 31, 2013, the Company had no unrealized losses on available-for-sale securities.

	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

The Company conducts a regular assessment of its investment portfolios to determine whether any securities are other-than-temporarily impaired. In estimating other-than-temporary impairment losses, management considers, among other factors, length of time and extent to which the fair value has been less than cost, the financial condition and near term prospects of the issuer, and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery. At March 31, 2013, no securities were other than temporarily impaired.