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2. Securities Available For Sale

12 Months Ended

Jun. 30, 2013

2. Securities Available for Sale

Securities available for sale consist of the following at the dates indicated:

	June 30, 2013
				Gross		Gross		Estimated
		Amortized		Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
U.S. Government Agencies	$	6,000	$	2	$	-	$	6,002
Residential Mortgage-backed Securities
of U.S. Government Agencies and
Government-Sponsored Enterprises		18,794		81		(127)		18,748
Total	$	24,794	$	83	$	(127)	$	24,750

	June 30, 2012
				Gross		Gross		Estimated
		Amortized		Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
U.S. Government Agencies	$	6,102	$	2	$	(2)	$	6,102
Residential Mortgage-backed Securities
of U.S. Government Agencies and
Government-Sponsored Enterprises		24,958		286		(11)		25,233
Total	$	31,060	$	288	$	(13)	$	31,335

Debt securities available for sale by contractual maturity at the dates indicated are shown below. Mortgage-backed securities are not included in the maturity categories because the borrowers in the underlying pools may prepay without penalty; therefore, it is unlikely that the securities will pay at their stated maturity schedule.

	June 30, 2013
		Amortized		Estimated
		Cost		Fair Value
Due within one year	$	-	$	-
Due after one year through five years		6,000		6,002
Due after five years through ten years		-		-
Due after ten years		-		-
Mortgage-backed securities		18,794		18,748
Total	$	24,794	$	24,750

	June 30, 2012
		Amortized		Estimated
		Cost		Fair Value
Due within one year	$	6,000	$	6,002
Due after one year through five years		102		100
Due after five years through ten years		-		-
Due after ten years		-		-
Mortgage-backed securities		24,958		25,233
Total	$	31,060	$	31,335

Gross proceeds and gross realized gains and losses from sales of securities recognized in net income follow:

	June 30,
		2013		2012		2011
Gross proceeds from sales of securities	$	-	$	-	$	8,555
Gross realized gains from sales of securities		-		-		443
Gross realized losses from sales of securities		-		-		13

Securities available for sale with costs totaling $21,429 and $15,563 with market values of $21,500 and $15,727 at June 30, 2013 and June 30, 2012, respectively, were pledged as collateral to secure various public deposits and retail repurchase agreements.

The gross unrealized losses and the fair value for securities available for sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of June 30, 2013 and June 30, 2012 were as follows:

	June 30, 2013
	Less than 12 Months				12 Months or More				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
		Value		Losses		Value		Losses		Value		Losses
Residential Mortgage-backed
Securities of U.S. Government
Agencies and Government-
Sponsored Enterprises		5,707		(122)		745		(5)		6,452		(127)
Total	$	5,707	$	(122)	$	745	$	(5)	$	6,452	$	(127)

	June 30, 2012
	Less than 12 Months				12 Months or More				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
		Value		Losses		Value		Losses		Value		Losses
U.S. Government Agencies	$	-	$	-	$	100	$	(2)	$	100	$	(2)
Residential Mortgage-backed
Securities of U.S. Government
Agencies and Government-
Sponsored Enterprises		2,908		(8)		100		(3)		3,008		(11)
Total	$	2,908	$	(8)	$	200	$	(5)	$	3,108	$	(13)

The total number of securities with unrealized losses at June 30, 2013, and June 30, 2012 were 26 and 22, respectively. Unrealized losses on securities have not been recognized in income because management has the intent and ability to hold the securities for the foreseeable future, and has determined that it is not more likely than not that the Company will be required to sell the securities prior to a recovery in value. The decline in fair value was largely due to increases in market interest rates. The Company had no other than temporary impairment losses during the years ended June 2013, 2012 or 2011.

The Bank, as a member of the FHLB, is required to maintain an investment in FHLB capital stock. No ready market exists for the FHLB stock and the carrying value approximates its fair value based on the redemption provisions of the FHLB.

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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