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Income Taxes (Tables) | 12 Months Ended
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Jun. 30, 2020
Income Taxes |
Schedule of components of net deferred tax assets | The components of net deferred tax assets are summarized as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
(dollars in thousands) |  | June 30, 2020 |  | June 30, 2019
Deferred tax assets: |  | ​ |  |  | ​ |
Provision for losses on loans | ​ | $ | 5,802 | ​ | $ | 4,601
Accrued compensation and benefits | ​ |  | 825 | ​ |  | 692
NOL carry forwards acquired | ​ |  | 149 | ​ |  | 199
Minimum Tax Credit | ​ |  | 130 | ​ |  | 130
Unrealized loss on other real estate | ​ |  | 257 | ​ |  | 134
Purchase accounting adjustments | ​ |  | — | ​ |  | 255
Losses and credits from LLC's | ​ |  | — | ​ |  | 1,206
Other | ​ |  | 26 | ​ |  | —
Total deferred tax assets | ​ |  | 7,189 | ​ |  | 7,218
Deferred tax liabilities: | ​ |  |  | ​ |  |
Purchase accounting adjustments | ​ |  | 64 | ​ |  | —
Depreciation | ​ |  | 1,665 | ​ |  | 1,749
FHLB stock dividends | ​ |  | 120 | ​ |  | 120
Prepaid expenses | ​ |  | 259 | ​ |  | 313
Unrealized gain on available for sale securities | ​ |  | 1,265 | ​ |  | 364
Other | ​ |  | 104 | ​ |  | 61
Total deferred tax liabilities | ​ |  | 3,477 | ​ |  | 2,607
Net deferred tax asset | ​ | $ | 3,712 | ​ | $ | 4,611
Schedule of reconciliation of income tax expense at the statutory rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended June 30
(dollars in thousands) |  | 2020 |  | 2019 |  | 2018
Tax at statutory rate | ​ | $ | 7,231 | ​ | $ | 7,550 | ​ | $ | 8,074
Increase (reduction) in taxes resulting from: | ​ |  |  | ​ |  |  | ​ |  |
Nontaxable municipal income | ​ |  | (444) | ​ |  | (400) | ​ |  | (441)
State tax, net of Federal benefit | ​ |  | 299 | ​ |  | 487 | ​ |  | 553
Cash surrender value of Bank-owned life insurance | ​ |  | (214) | ​ |  | (279) | ​ |  | (266)
Tax credit benefits | ​ |  | (48) | ​ |  | (270) | ​ |  | (871)
Adjustment of deferred tax asset for enacted changes in tax laws | ​ |  | — | ​ |  | — | ​ |  | 1,124
Other, net | ​ |  | 63 | ​ |  | (41) | ​ |  | (370)
Actual provision | ​ | $ | 6,887 | ​ | $ | 7,047 | ​ | $ | 7,803

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- Definition Represents the textual narrative disclosure of Reconciliation of Income Tax Expense at the Statutory Rate to Actual Income Tax, during the indicated time period. + References No definition available. + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
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