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Note 3: Securities: Repurchase Agreements, Collateral, Policy (Policies) | 3 Months Ended
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Dec. 31, 2015
Policies |
Repurchase Agreements, Collateral, Policy | The carrying value of securities sold under agreement to repurchase amounted to $23.1 million at December 31, 2015 and $27.3 million at June 30, 2015. The securities, which are classified as borrowings, generally mature within one to four days. The securities underlying the agreements consist of marketable securities, including $9.9 million and $10.9 million of U.S. Government and Federal Agency Obligations, $13.2 million and $15.6 million of Mortgage-Backed Securities, and $3.0 million and $2.1 million of Collateralized Mortgage Obligations, at December 31 and June 30, 2015, respectively. The right of offset for a repurchase agreement resembles a secured borrowing, whereby the collateral pledged by the Company would be used to settle the fair value of the repurchase agreement should the Company be in default. The collateral is held by the Company in a segregated custodial account. In the event the collateral fair value falls below stipulated levels, the Company will pledge additional securities. The Company closely monitors collateral levels to ensure adequate levels are maintained.

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- Definition Disclosure of accounting policy with regard to collateral required and collateral rights on securities sold under agreements to repurchase. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=55761124&loc=SL6224234-111729 + Details
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