XML 21 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
Employee Stock Ownership Plan
12 Months Ended
Mar. 31, 2012
Employee Stock Ownership Plan:  
Employee Stock Ownership Plan

 

14.  

EMPLOYEE STOCK OWNERSHIP PLAN

 

The Company sponsors an ESOP that covers all employees with at least one year and 1,000 hours of service who are over the age of 21.  Shares are released and allocated to participant accounts on December 31 of each year until 2017. ESOP compensation expense included in salaries and employee benefits was $62,000, $64,000 and $73,000 for years ended March 31, 2012, 2011 and 2010, respectively.

 

ESOP share activity is summarized in the following table:

 

 

 

Fair Value

of

Unreleased

Shares

 

Unreleased

ESOP

Shares

 

Allocated

and Released

Shares

 

Total

 

 

 

 

 

 

 

 

 

Balance, March 31, 2009

$

858,000

 

221,697

 

740,887

 

962,584

Allocation December 31, 2009

 

 

 

(24,633

)

24,633

 

-

Balance, March 31, 2010

$

453,000

 

197,064

 

765,520

 

962,584

Allocation December 31, 2010

 

 

 

(24,633

)

24,633

 

-

Balance, March 31, 2011

$

524,000

 

172,431

 

790,153

 

962,584

Allocation December 31, 2011

 

 

 

(24,633

)

24,633

 

-

Balance, March 31, 2012

$

334,000

 

147,798

 

814,786

 

962,584