Benefit Plans

9 Months Ended

Mar. 31, 2019

Compensation And Retirement Disclosure [Abstract]

15. BENEFIT PLANS

Components of Net Periodic Expense

The following table sets forth the aggregate net periodic benefit expense for the Bank’s Benefit Equalization Plan, Postretirement Welfare Plan, Directors’ Consultation and Retirement Plan and Atlas Bank Retirement Income Plan:

	Three Months Ended						Nine Months Ended						Affected Line Item in the Consolidated
	March 31,						March 31,						Statements of Income
	2019			2018			2019			2018
	(In Thousands)
Service cost	$	13		$	12		$	41		$	36		Salaries and employee benefits
Interest cost		95			93			283			279		Miscellaneous non-interest expense
Amortization of unrecognized loss		11			11			33			34		Miscellaneous non-interest expense
Expected return on assets		(28	)		(30	)		(84	)		(90	)	Miscellaneous non-interest expense
Net periodic benefit cost	$	91		$	86		$	273		$	259

Effective July 1, 2018, the Company implemented ASU 2017-07, “Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” Under ASU 2017-07, the FASB requires employers to report the service cost component in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net periodic benefit cost are required to be presented in the Consolidated Statements of Income separately from the service cost component. The table above details the affected line items within the Consolidated Statements of Income related to the net periodic benefit costs for the periods noted. This ASU is also required to be applied retrospectively to all periods presented.

The following table summarizes the impact of retrospective application to the Consolidated Statements of Income for the three and nine months ended March 31, 2018:

	Three Months Ended		Nine Months Ended
	March 31,		March 31,
		2018		2018
	(In Thousands)
Miscellaneous non-interest expense:
As previously reported	$	2,788	$	7,828
As reported under the new guidance		2,862		8,051

Salaries and employee benefits:
As previously reported	$	12,888	$	38,681
As reported under the new guidance		12,814		38,458