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Income Taxes Income Taxes (Tables)

12 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes for the periods indicated consisted of the following:

(In Thousands)		Year Ended June 30,
		2014				2013				2012
Current:
	Federal	$	4,272			$	9,585			$	4,984
	State	1,773				3,056				1,662
		6,045				12,641				6,646
Deferred:
	Federal	(611		)		2,454				947
	State	(430		)		1,821				335
		(1,041		)		4,275				1,282
Provision for income taxes		$	5,004			$	16,916			$	7,928

Schedule of Effective Income Tax Rate Reconciliation

The provision for income taxes differs from the amount of income tax determined by applying the applicable U.S. statutory federal income tax rate to net income before income taxes as a result of the following differences for the periods indicated:

		Year Ended June 30,
		2014						2013						2012
(In Thousands)		Amount				Tax Rate		Amount			Tax Rate			Amount			Tax Rate
Federal income tax at statutory rate		$	3,982			34.3	%	$	14,950			35.0	%	$	6,558			35.0	%
State income tax		813				7.0	%	3,002				7.0	%	1,300				6.9	%
Changes in taxes resulting from:
	Bank-owned life insurance	(65		)		(0.6	)%	(64		)		(0.1	)%	(66		)		(0.4	)%
	Non-deductible expenses	30				0.3	%	63				0.1	%	33				0.2	%
	Non-deductible stock-based compensation	(22		)		(0.2	)%	82				0.2	%	110				0.6	%
	Release of FIN 48 tax liabilities	—				—	%	(825		)		(1.9	)%	—				—	%
	Other	266				2.3	%	(292		)		(0.7	)%	(7		)		—	%
Effective income tax		$	5,004			43.1	%	$	16,916			39.6	%	$	7,928			42.3	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets at June 30, 2014 and 2013 by jurisdiction were as follows:

(In Thousands)	June 30,
	2014				2013
Deferred taxes - federal	$	4,185			$	3,465
Deferred taxes - state	1,403				960
Total net deferred tax assets	$	5,588			$	4,425

Net deferred tax assets at June 30, 2014 and 2013 were comprised of the following:

(In Thousands)		June 30,
		2014				2013
Loss reserves		$	6,852			$	9,341
Non-accrued interest		647				420
Deferred compensation		2,982				3,106
Accrued vacation		315				323
State taxes		131				924
Other		507				202
	Total deferred tax assets	11,434				14,316
FHLB - San Francisco stock cash dividends		(956		)		(2,069		)
Unrealized gain on derivative financial instruments, at fair value		(522		)		(2,916		)
Unrealized gain on loans held for sale, at fair value		(711		)		(1,422		)
Unrealized gain on investment securities		(254		)		(360		)
Unrealized gain on interest-only strips		(25		)		(41		)
Deferred loan costs		(2,862		)		(2,577		)
Depreciation		(516		)		(506		)
	Total deferred tax liabilities	(5,846		)		(9,891		)
	Net deferred tax assets	$	5,588			$	4,425

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended June 30, 2014, 2013, and 2012 is as follows:

(In Thousands)	2014				2013				2012
Balance of prior fiscal year end	$	1,961			$	1,961			$	1,961
Additions based on tax positions related to the current year	—				—				—
Addition for tax positions of prior years	—				—				—
Reduction for tax positions of prior years	—				—				—
Settlements	—				—				—
Balance at June 30	$	1,961			$	1,961			$	1,961

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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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.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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