Note 9 - Commercial Loans (Commercial Loan [Member])

3 Months Ended

Sep. 30, 2013

Commercial Loan [Member]

Note 9 - Commercial Loans [Line Items]

NOTE 9 – COMMERCIAL LOANS

The Company’s investment in commercial loans consists of the following:

	September 30, 2013			June 30, 2013
	(in thousands)
Commercial term loans	$	62,287		$	65,094
Commercial real estate loans		9,316			9,411
Revolving lines of credit		948			1,841
Total commercial loans		72,551			76,346
Less unearned income and discounts		(375	)		(394	)
Less allowance for loan losses		(1,972	)		(1,972	)
Net commercial loans	$	70,204		$	73,980

Commercial loans are reported at their outstanding unpaid principal balances reduced by the allowance for loan losses and net of any deferred fees or costs on originated loans, or unamortized premiums or discounts on purchased loans. Interest income is accrued on the unpaid principal balance. Loan origination fees and certain direct origination costs are capitalized and recognized as an adjustment of the yield of the related commercial loan.

In addition to the amount outstanding on revolving lines of credit set forth above, the Company had additional unused commitments on revolving lines of credit in the amount of $10.0 million at September 30, 2013 and $12.0 million at June 30, 2013. The Company has a recorded liability for unfunded loan commitments of $25,000 at September 30, 2013 and June 30, 2013 related to such commitments.