LOANS AND RELATED ALLOWANCE FOR LOAN LOSSES (Tables)

6 Months Ended

Dec. 31, 2016

Receivables [Abstract]

Schedule of Primary Segments of Loan Portfolio

The following table summarizes the primary segments of the loan portfolio as of December 31, 2016 and June 30, 2016.

		December 31, 2016										June 30, 2016
		Total         Loans				Individually evaluated for impairment			Collectively evaluated for impairment			Total Loans				Individually evaluated for impairment			Collectively evaluated for impairment
		(Dollars in Thousands)
First mortgage loans:
1 – 4 family dwellings	$		58,782		$		-	$		58,782	$		49,411		$		-	$		49,411
Construction			5,042				-			5,042			4,783				-			4,783
Land acquisition & development			651				-			651			666				-			666
Multi-family dwellings			3,784				-			3,784			3,961				-			3,961
Commercial			1,666				-			1,666			1,592				-			1,592
Consumer Loans
Home equity			932				-			932			802				-			802
Home equity lines of credit			2,185				-			2,185			1,900				-			1,900
Other			161				-			161			150				-			150
Commercial Loans			942				-			942			1,456				-			1,456
Obligations (other than securities and leases) of states and political subdivisons			-				-			-			-				-			-
	$		74,145		$		-	$		74,145	$		64,721		$		-	$		64,721
Plus: Deferred loan costs			396										312
Allowance for loan losses			(395	)									(360	)
Total	$		74,146								$		64,673

Schedule of Impaired Loans

The following tables are a summary of the loans considered to be impaired as of December 31, 2016 and June 30, 2016, and the related interest income recognized for the three and six months ended December 31, 2016 and December 31, 2015:

		December 31,         2016			June 30,         2016
		(Dollars in Thousands)
Impaired loans with an allocated allowance:
Home equity lines of credit	$		-	$		-
Impaired loans without an allocated allowance:
Commercial real estate loans			-			-
Total impaired loans	$		-	$		-
Allocated allowance on impaired loans:
Home equity lines of credit	$		-	$		-
Commercial real estate loans			-			-
Total	$		-	$		-

		Three Months Ended						Six Months Ended
		December 31,     2016			December 31,     2015			December 31,     2016			December 31,     2015
		(Dollars in Thousands)
Average impaired loans
Construction loans	$		-	$		-	$		-	$		-
Land acquisition & development loans			-			-			-			-
Commercial real estate loans			-			-			24			24
Home equity lines of credit			-			-			-			-
Total	$		-	$		-	$		24		$	24
Income recognized on impaired loans
Construction loans	$		-	$		-	$		-	$		-
Land acquisition & development loans			-			-			-			-
Commercial real estate loans			-			-			1			1
Home equity lines of credit			-			-			-			-
Total	$		-	$		-	$		1	$		1

Schedule of Nonaccrual Loans

Total nonaccrual loans as of December 31, 2016 and June 30, 2016 and the related interest income recognized for the three and six months ended December 31, 2016 and December 31, 2015 are as follows:

		December 31,         2016			June 30,         2016
		(Dollars in Thousands)
Principal outstanding
1 – 4 family dwellings	$		250	$		254
Construction			-			-
Land acquisition & development			-			-
Commercial real estate			-			-
Home equity lines of credit			-			-
Total	$		250	$		254

		Three Months Ended						Six Months Ended
		December 31,     2016			December 31,     2015			December 31,     2016			December 31,     2015
		(Dollars in Thousands)
Average nonaccrual loans
1 – 4 family dwellings	$		251	$		258	$		252	$		259
Construction			-			-			-			-
Land acquisition & development			-			-			-			-
Commercial real estate			-			-			-			24
Home equity lines of credit			-			-			-			-
Total	$		251	$		258	$		252	$		283
Income that would have been recognized	$		5	$		4	$		8	$		9
Interest income recognized	$		5	$		5	$		9	$		11
Interest income foregone	$		-	$		-	$		-	$		-

Schedule of Recorded Investment

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Schedule of Loan Portfolio by Aging Categories

The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of December 31, 2016 and June 30, 2016:

		Current			30 –59   Days Past   Due			60 –89     Days Past   Due			90 Days +   Past Due Accruing			90 Days +   Past Due Non-accrual			Total   Past   Due			Total Loans
		(Dollars in Thousands)
December 31, 2016
First mortgage loans:
1 – 4 family dwellings	$		58,532	$		-	$		-	$		-	$		250	$		250	$		58,782
Construction			5,042			-			-			-			-			-			5,042
Land acquisition & development			651			-			-			-			-			-			651
Multi-family dwellings			3,784			-			-			-			-			-			3,784
Commercial			1,666			-			-			-			-			-			1,666
Consumer Loans:
Home equity			932			-			-			-			-			-			932
Home equity lines of credit			2,185			-			-			-			-			-			2,185
Other			161			-			-			-			-			-			161
Commercial Loans			942			-			-			-			-			-			942
	$		73,895	$		-	$		-	$		-	$		250	$		250			74,145
Plus: Deferred loan fees																					396
Allowance for loan losses																					(395	)
Net Loans Receivable																			$		74,146
		Current			30 – 59 Days Past Due			60 – 89 Days Past Due			90 Days + Past Due Accruing			90 Days + Past Due Non-accrual			Total Past Due			Total Loans
		(Dollars in Thousands)
June 30, 2016
First mortgage loans:
1 – 4 family dwellings	$		49,157	$		-	$		-	$		-	$		254	$		254	$		49,411
Construction			4,783			-			-			-			-			-			4,783
Land acquisition & development			666			-			-			-			-			-			666
Multi-family dwellings			3,961			-			-			-			-			-			3,961
Commercial			1,592			-			-			-			-			-			1,592
Consumer Loans:
Home equity			802			-			-			-			-			-			802
Home equity lines of credit			1,900			-			-			-			-			-			1,900
Other			150			-			-			-			-			-			150
Commercial Loans			1,456			-			-			-			-			-			1,456
	$		64,467	$		-	$		-	$		-	$		254	$		254			64,721
Plus: Deferred loan fees																					312
Allowance for loan losses																					(360	)
Net Loans Receivable																			$		64,673

Schedule of Loans by Internal Classification

The following tables present the Company’s internally classified construction, land acquisition and development, multi-family residential, commercial real estate and commercial (not secured by real estate) loans at December 31, 2016 and June 30, 2016.

		December 31, 2016
		Construction			Land Acquisition &   Development   Loans			Multi-family   Residential			Commercial   Real Estate			Commercial
		(Dollars in Thousands)
Pass	$		5,042	$		651	$		3,784	$		1,666	$		942
Special Mention			-			-			-			-			-
Substandard			-			-			-			-			-
Doubtful			-			-			-			-			-
Ending Balance	$		5,042	$		651	$		3,784	$		1,666	$		942

		June 30, 2016
		Construction			Land Acquisition & Development Loans			Multi-family Residential			Commercial Real Estate			Commercial
		(Dollars in Thousands)
Pass	$		4,783	$		666	$		3,961	$		1,592	$		1,456
Special Mention			-			-			-			-			-
Substandard			-			-			-			-			-
Doubtful			-			-			-			-			-
Ending Balance	$		4,783	$		666	$		3,961	$		1,592	$		1,456

Schedule of Performing and Non-Performing Loans

The following table presents performing and non-performing 1 – 4 family residential and consumer loans based on payment activity for the periods ended December 31, 2016 and June 30, 2016.

		December 31, 2016
		1 – 4 Family			Consumer
		(Dollars in Thousands)
Performing	$		58,532	$		3,278
Non-performing			250			-
Total	$		58,782	$		3,278
		June 30, 2016
		1 – 4 Family			Consumer
		(Dollars in Thousands)
Performing	$		49,157	$		2,852
Non-performing			254			-
Total	$		49,411	$		2,852

Schedule of Primary Segments of Allowance for Loan Losses

The following tables summarize the primary segments of the allowance for loan losses (“ALLL”), segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of December 31, 2016 and 2015. Activity in the allowance is presented for the three and six months ended December 31, 2016 and 2015.

		As of December 31, 2016
		First Mortgage Loans
		1 – 4 Family			Construction				Land Acquisition & Development			Multi- family				Commercial			Consumer Loans			Commercial Loans				Total
		(Dollars in Thousands)
Beginning ALLL Balance at September 30, 2016	$		256	$		46		$		7	$		21			$	17	$		24	$		5		$		376
Charge-offs			-			-				-			-				-			-			-				-
Recoveries			-			-				-			-				-			-			-				-
Provisions			5			5				-			-				-			9			-				19
Ending ALLL Balance at December 31, 2016	$		261	$		51		$		7	$		21			$	17	$		33	$		5		$		395
Individually evaluated for impairment	$		-	$		-		$		-	$		-			$	-	$		-	$		-		$		-
Collectively evaluated for impairment			261			51				7			21				17			33			5				395
	$		261	$		51		$		7	$		21			$	17	$		33	$		5		$		395
		As of December 31, 2016
		First Mortgage Loans
		1 – 4 Family			Construction				Land Acquisition & Development			Multi- family				Commercial			Consumer Loans			Commercial Loans				Total
		(Dollars in Thousands)
Beginning ALLL Balance at June 30, 2016	$		222	$		57		$		7	$		22		$		16	$		29	$		7		$		360
Charge-offs			-			-				-			-				-			-			-				-
Recoveries			-			-				-			-				-			-			-				-
Provisions			39			(6	)			-			(1	)			1			4			(2	)			35
Ending ALLL Balance at December 31, 2016	$		261	$		51		$		7	$		21		$		17	$		33	$		5		$		395
Individually evaluated for impairment	$		-	$		-		$		-	$		-		$		-	$		-	$		-		$		-
Collectively evaluated for impairment			261			51				7			21				17			33			5				395
	$		261	$		51		$		7	$		21		$		17	$		33	$		5		$		395

		As of December 31, 2015
		First Mortgage Loans
		1 – 4     Family				Construction			Land   Acquisition &   Development				Multi-   family				Commercial				Consumer   Loans				Commercial   Loans			Total
		(Dollars in Thousands)
Beginning ALLL Balance at September 30, 2015	$		143		$		72	$		9		$		30		$		31		$		32		$		6	$		323
Charge-offs			-				-			-				-				-				-				-			-
Recoveries			-				-			-				-				-				-				-			-
Provisions			19				12			(1	)			(1	)			(2	)			-				1			28
Ending ALLL Balance at December 31, 2015	$		162		$		84	$		8		$		29		$		29		$		32		$		7	$		351
Individually evaluated for impairment	$		-		$		-	$		-		$		-		$		-		$		-		$		-	$		-
Collectively evaluated for impairment			162				84			8				29				29				32				7			351
	$		162		$		84	$		8		$		29		$		29		$		32		$		7	$		351
		As of December 31, 2015
		First Mortgage Loans
		1 – 4     Family				Construction			Land   Acquisition &   Development				Multi-   family				Commercial				Consumer   Loans				Commercial   Loans			Total
		(Dollars in Thousands)
Beginning ALLL Balance at June 30, 2015	$		125		$		63	$		9		$		30		$		34		$		37		$		6	$		304
Charge-offs			-				-			-				-				-				-				-			-
Recoveries			-				-			-				-				-				-				-			-
Provisions			(37	)			21			(1	)			(1	)			(5	)			(5	)			1			47
Ending ALLL Balance at December 31, 2015	$		162		$		84	$		8		$		29		$		29		$		32		$		7	$		351
Individually evaluated for impairment	$		-		$		-	$		-		$		-		$		-		$		-		$		-	$		-
Collectively evaluated for impairment			162				84			8				29				29				32				7			351
	$		162		$		84	$		8		$		29		$		29		$		32		$		7	$		351

Schedule of increased ALL reserve factors, due to increases in associated loan balances

During the fiscal year ended June 30, 2016, the Company also increased its ALLL reserve factors, due to increases in associated loan balances and qualitative factors throughout fiscal 2016, for the following loan segments:

Loan Segment	12/31/2016 Factor	12/31/2015 Factor
1 – 4 family	0.40%	0.35%
Construction:
1 – 4 family	0.75%	0.75%
5+ family	1.00%	1.00%