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Deposits

12 Months Ended

Jun. 30, 2016

Banking and Thrift [Abstract]

Deposits

Deposits

Deposits at June 30, 2016 and 2015 consisted of the following:

(Dollars in Thousands)	June 30, 2016				June 30, 2015
	Interest Rate	Amount			Interest Rate	Amount
Checking deposits – non interest-bearing	—	$	71,158		—	$	67,538
Checking deposits – interest-bearing(1)	0% - 0.30%	237,979			0% - 0.35%	224,090
Savings deposits(1)	0% - 1.00%	275,310			0% - 1.00%	255,090
Money market deposits(1)	0% - 2.00%	33,082			0% - 2.00%	31,672
Time deposits:(1)
Under $100(2)	0.00% - 3.90%	152,674			0.00% - 3.90%	171,135
$100 and over	0.15% - 2.47%	156,181			0.10% - 2.96%	174,561
Total deposits		$	926,384			$	924,086
Weighted-average interest rate on deposits		0.44		%		0.50		%

⁽¹⁾  Certain interest-bearing checking, savings, money market and time deposits require a minimum balance to earn interest.

⁽²⁾  Includes brokered deposits of $1.6 million and $3.0 million at June 30, 2016 and 2015, respectively.

The aggregate annual maturities of time deposits at June 30, 2016 and 2015 were as follows:

(In Thousands)	June 30,
	2016			2015
One year or less	$	148,867		$	174,005
Over one to two years	56,760			79,944
Over two to three years	41,482			20,963
Over three to four years	37,399			38,172
Over four to five years	13,467			32,612
Over five years	10,880			—
Total time deposits	$	308,855		$	345,696

Interest expense on deposits for the periods indicated is summarized as follows:

(In Thousands)	Year Ended June 30,
	2016			2015			2014
Checking deposits – interest-bearing	$	336		$	314		$	290
Savings deposits	657			641			606
Money market deposits	114			105			95
Time deposits	3,290			3,701			4,504
Total interest expense on deposits	$	4,397		$	4,761		$	5,495

The Corporation is required to maintain reserve balances with the Federal Reserve Bank of San Francisco.  Such reserves are calculated based on deposit balances and are offset by the cash balances maintained by the Bank.  The cash balances maintained by the Bank at June 30, 2016 and 2015 were sufficient to cover the reserve requirements.

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- References

No definition available.

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- Definition

The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 405
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=50488274&loc=d3e64164-112818

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.12)
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

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