Note 7 - Allowance for Credit Losses

12 Months Ended

Jun. 30, 2015

Disclosure Text Block Supplement [Abstract]

Allowance for Credit Losses [Text Block]

Note 7 – Allowance for Credit Losses:

The allowance for credit losses includes amounts to cover losses related to the net investment in leases, commercial loans, and transactions-in-process (“risk assets”). A summary of the allocation of the allowance for credit losses and selected statistics is as follows:

	June 30,
	2015			2014
	(dollars in thousands)
Allowance for credit losses at beginning of year	$	5,299		$	5,147
Charge-off of leases		(19	)		(62	)
Recovery of lease amounts previously written off		1			14
Provision for credit losses		1,175			200
Allowance for credit losses at end of year	$	6,456		$	5,299
Components of allowance for credit losses:
Allowance for lease losses	$	3,409		$	3,327
Allowance for loan losses		3,047			1,972
	$	6,456		$	5,299
Allowance for credit losses as percent of net investment in leases and loans before allowances		1.18	%		1.15	%
Net recoveries (charge-offs) as percent of averages leases and loan		0.00	%		(0.08	)%

In addition to the allowance for credit losses, the Company has recorded a liability for unfunded loan commitments of $50,000 and $25,000 at June 30, 2015 and 2014, respectively.