Note 9: 401(k) Retirement Plan

3 Months Ended

Dec. 31, 2016

Notes

Note 9: 401(k) Retirement Plan

Note 9:  401(k) Retirement Plan

The Bank has a 401(k) retirement plan that covers substantially all eligible employees. The Bank makes “safe harbor” matching contributions of up to 4% of eligible compensation, depending upon the percentage of eligible pay deferred into the plan by the employee.  Additional profit-sharing contributions of 4% of eligible salary were accrued for the plan year ended June 30, 2016, based on the financial performance for fiscal 2015.  During the three- and six-month periods ended December 31, 2016, retirement plan expenses recognized for the Plan totaled approximately $205,000 and $448,000, respectively, as compared to $207,000 and $421,000, respectively, for the same period of the prior fiscal year.