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Income Taxes Income Taxes (Tables)

12 Months Ended

Jun. 30, 2018

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,
		2018				2017				2016
Current:
	Federal	$	2,271			$	1,718			$	3,801
	State	960				697				1,354
		3,231				2,415				5,155
Deferred:
	Federal	582				937				183
	State	(417		)		257				34
		165				1,194				217
Provision for income taxes		$	3,396			$	3,609			$	5,372

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,
		2018						2017						2016
(In Thousands)		Amount				Tax Rate		Amount			Tax Rate			Amount			Tax Rate
Federal income tax at statutory rate		$	1,551			28.1	%	$	2,988			33.9	%	$	4,496			35.0	%
State income tax		429				7.8	%	629				7.1	%	902				7.0	%
Changes in taxes resulting from:
	Bank-owned life insurance	(50		)		(0.9	)%	(57		)		(0.7	)%	(65		)		(0.5	)%
	Non-deductible expenses	30				0.5	%	43				0.5	%	45				0.4	%
	Non-deductible stock-based compensation	15				0.2	%	6				0.1	%	(6		)		(0.1	)%
	Excess tax benefit on stock-based compensation	(189		)		(3.4	)%	—				—	%	—				—	%
	Deferred tax asset revaluation due to the Tax Act	1,765				31.9	%	—				—	%	—				—	%
	Other(1)	(155		)		(2.8	)%	—				—	%	—				—	%
Effective income tax		$	3,396			61.4	%	$	3,609			40.9	%	$	5,372			41.8	%

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets at June 30, 2018 and 2017 by jurisdiction were as follows:

(In Thousands)	June 30,
	2018				2017
Deferred taxes - federal	$	2,636			$	3,150
Deferred taxes - state	1,532				1,106
Total net deferred tax assets	$	4,168			$	4,256

Net deferred tax assets at June 30, 2018 and 2017 were comprised of the following:

(In Thousands)		June 30,
		2018				2017
Loss reserves		$	2,873			$	4,829
Non-accrued interest		502				668
Deferred compensation		2,509				3,325
Accrued vacation		224				293
Depreciation		99				181
Litigation reserves		1,441				516
Other		358				445
	Total deferred tax assets	8,006				10,257
FHLB - San Francisco stock dividends		(664		)		(956		)
Unrealized gain on derivative financial instruments, at fair value		(123		)		(657		)
Prepaid expenses		(49		)		—
Unrealized gain on investment securities		(82		)		(153		)
Unrealized gain on interest-only strips		(6		)		(13		)
Deferred loan costs		(2,806		)		(4,078		)
State tax		(108		)		(144		)
	Total deferred tax liabilities	(3,838		)		(6,001		)
	Net deferred tax assets	$	4,168			$	4,256

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- Definition

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=84230637&loc=d3e32639-109319

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319

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