INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2018

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes consists of:

	2018			2017			2016
	(Dollars in Thousands)
Currently payable:
Federal	$	877		$	801		$	659
State		186			105			137
		1,063			906			796
Deferred		(68	)		(58	)		3
Change in corporate tax rate		133			—			—
Total	$	1,128		$	848		$	799

Schedule of Income Tax Amounts Recorded to Stockholders' Equity

In addition to income taxes applicable to income before taxes in the Consolidated Statement of Income, the following income tax amounts were recorded to stockholders’ equity during the years ended June 30:

	2018		2017			2016
	(Dollars in Thousands)
Net unrealized loss on securities available for sale	$	2	$	17		$	58
Net non-credit (gain) loss on securities with OTTI		4		(44	)		(56	)
Net gain (loss) recorded to stockholders’ equity	$	6	$	(27	)	$	2

Schedule of Deferred Tax Assets and Liabilities

The following temporary differences gave rise to the net deferred tax assets at June 30:

	2018		2017
	(Dollars in Thousands)
Deferred tax assets:
Allowance for loan losses	$	101	$	147
Deferred compensation		62		80
Retirement Plan		117		148
Reserve for uncollected interest		—		2
Reserve for off-balance sheet commitments		8		13
OTTI other impairment		47		120
OTTI credit impairment		36		65
Net unrealized loss on securities available for sale		3		—
Other		110		90
Total gross deferred tax assets		484		665
Deferred tax liabilities:
Net unrealized gain on securities available for sale		—		24
Deferred origination fees, net		124		193
Depreciation reserve		1		11
Total gross deferred tax liabilities		125		228
Net deferred tax assets	$	359	$	437

Schedule of Reconciliation of Income Taxes

The following is a reconciliation between the actual provision for income taxes and the amount of income taxes which would have been provided at federal statutory rates for the years ended June 30:

	2018						2017						2016
				% of						% of						% of
				Pretax						Pretax						Pretax
	Amount			Income			Amount			Income			Amount			Income
	(Dollars in Thousands)
Provision at statutory rate	$	894			27.5	%	$	845			34.0	%	$	722			34.0	%
Impact of change in Federal corporate tax rate		133			4.1			—			—			—			—
State income tax, net of federal tax benefit		146			4.5			69			2.8			90			4.2
Tax exempt income		(7	)		(0.2	)		(5	)		(0.2	)		(3	)		—
Bank Owned Life Insurance		(34	)		(1.0	)		(45	)		(1.8	)		(46	)		(2.3	)
Other, net		(4	)		(0.1	)		(16	)		(0.7	)		36			1.7
Actual tax expense and effective rate	$	1,128			34.8	%	$	848			34.1	%	$	799			37.6	%