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Income Taxes Income Taxes (Tables)

12 Months Ended

Jun. 30, 2017

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,
		2017				2016				2015
Current:
	Federal	$	1,718			$	3,801			$	5,365
	State	697				1,354				1,877
		2,415				5,155				7,242
Deferred:
	Federal	937				183				17
	State	257				34				18
		1,194				217				35
Provision for income taxes		$	3,609			$	5,372			$	7,277

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,
		2017						2016						2015
(In Thousands)		Amount				Tax Rate		Amount			Tax Rate			Amount			Tax Rate
Federal income tax at statutory rate		$	2,988			33.9	%	$	4,496			35.0	%	$	5,892			34.5	%
State income tax		629				7.1	%	902				7.0	%	1,239				7.3	%
Changes in taxes resulting from:
	Bank-owned life insurance	(57		)		(0.7	)%	(65		)		(0.5	)%	(65		)		(0.4	)%
	Non-deductible expenses	43				0.5	%	45				0.4	%	43				0.3	%
	Non-deductible stock-based compensation	6				0.1	%	(6		)		(0.1	)%	139				0.8	%
	Other	—				—	%	—				—	%	29				0.1	%
Effective income tax		$	3,609			40.9	%	$	5,372			41.8	%	$	7,277			42.6	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets at June 30, 2017 and 2016 by jurisdiction were as follows:

(In Thousands)	June 30,
	2017				2016
Deferred taxes - federal	$	3,150			$	4,032
Deferred taxes - state	1,106				1,357
Total net deferred tax assets	$	4,256			$	5,389

Net deferred tax assets at June 30, 2017 and 2016 were comprised of the following:

(In Thousands)		June 30,
		2017				2016
Loss reserves		$	4,829			$	5,185
Non-accrued interest		668				635
Deferred compensation		3,325				3,535
Accrued vacation		293				385
Depreciation		181				41
Other		961				644
	Total deferred tax assets	10,257				10,425
FHLB - San Francisco stock dividends		(956		)		(956		)
Unrealized gain on derivative financial instruments, at fair value		(657		)		(270		)
Unrealized gain on investment securities		(153		)		(207		)
Unrealized gain on interest-only strips		(13		)		(20		)
Deferred loan costs		(4,078		)		(3,555		)
State tax		(144		)		(28		)
	Total deferred tax liabilities	(6,001		)		(5,036		)
	Net deferred tax assets	$	4,256			$	5,389

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for the years ended June 30, 2017, 2016 and 2015 is as follows:

(In Thousands)	2017				2016				2015
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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319

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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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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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Tabular disclosure of the change in unrecognized tax benefits.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=75116239&loc=d3e36027-109320

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