The Company leases certain real property under long-term operating lease agreements. Rent expense under operating leases was $653, $403, and $250 for the years ended June 30, 2013, 2012, and 2011, respectively.

The following schedule summarizes aggregate future minimum lease payments under these operating leases at June 30, 2013.

Fiscal year ending:		June 30, 2013

2014	$	698
2015		692
2016		699
2017		613
Thereafter		774
Present value of net minimum lease payments	$	3,476

The Company currently leases land for one of its retail office locations under a capital lease. Leases that meet the criteria for capitalization are recorded as assets and the related obligations are reflected as capital lease obligations on the accompanying balance sheets, because the lease has been deemed to have a bargain purchase option. Included in premises and equipment at June 30, 2013 and June 30, 2012 is $2,052 as the capitalized cost of the leased land.

Aggregate future minimum lease payments due under this capital lease obligation are as follows:

Fiscal year ending:		June 30, 2013

2014	$	122
2015		122
2016		122
2017		123
2018-2029		2,930
Total minimum lease payments		3,419
Less: amount representing interest		(1,403)
Present value of net minimum lease payments	$	2,016