XML 39 R22.htm IDEA: XBRL DOCUMENT v3.10.0.1

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2018

Summary of Significant Accounting Policies [Abstract]

Schedule of retirement and employee benefit plans

			For the fiscal year ended
			June 30,
			2018				2017
	Allocated shares			104,649				86,880
	Shares committed to be released			9,338				9,338
	Unearned shares			66,286				84,961
	Total ESOP shares			180,273				181,179
	Fair value of unearned shares at
	End of period (dollars in thousands)		$	560			$	802

Schedule of earnings per share

	(in thousands)		2018				2017
	Net income allocated to common shareholders, basic and diluted		$	1,323			$	935

			2018				2017
	Basic
	Weighted-average common shares outstanding			8,366,521				8,345,422
	Diluted
	Weighted-average common shares outstanding (diluted)			8,366,521				8,345,422

Schedule of fair value measurements of assets and liabilities measured at fair value on a recurring basis

			Fair Value Measurements Using
							Quotes Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
	(in thousands)		Fair Value				(Level 1)				(Level 2)				(Level 3)
	2018
	Agency mortgage-backed: residential		$	48			$	--			$	48			$	--
	2017
	Agency mortgage-backed: residential		$	71			$	--			$	71			$	--

Schedule of fair value measurements of assets and liabilities measured at fair value on a nonrecurring basis

			Fair Value Measurements Using
							Quotes Prices in Active Markets for Identical Assets				Significant Other Observable Inputs				Significant Unobservable Inputs
	(in thousands)		Fair Value				(Level 1)				(Level 2)				(Level 3)
	2018
	Loans
	One- to four-family		$	513			$	-			$	-			$	513
	Other real estate owned, net
	One- to four-family		$	5			$	-			$	-			$	5
	2017
	Other real estate owned, net
	One- to four-family		$	103			$	-			$	-			$	103
	Land		$	79			$	-			$	-			$	79

Schedule of level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis

											Range
			Fair Value				Valuation		Unobservable		(Weighted
	June 30, 2018		(in thousands)				Technique(s)		Input(s)		Average)
	Loans:
	1-4 family		$	513			Sales comparison approach		Adjustments for differences between comparable sales		-38.5% to 20.7% (-27.8%)
	Foreclosed and repossessed assets:
	1-4 family		$	5			Sales comparison approach		Adjustments for differences between comparable sales		0.0% to 0.0% (0.0%)
											Range
			Fair Value				Valuation		Unobservable		(Weighted
	June 30, 2017		(in thousands)				Technique(s)		Input(s)		Average)
	Foreclosed and repossessed assets:
	1-4 family		$	103			Sales comparison approach		Adjustments for differences between comparable sales		-3.6% to 45.8% (9.5%)
	Land			79			Sales comparison approach		Adjustments for differences between comparable sales		3.5% to 6.6% (5.0%)

Schedule of carrying value and fair value of the Company's financial instruments

							Fair Value Measurements at
	(in thousands)		Carrying				June 30, 2018 Using
			Value				Level 1				Level 2				Level 3				Total
	Financial assets
	Cash and cash equivalents		$	9,943			$	9,943											$	9,943
	Time deposits in other financial institutions			5,692				5,692												5,692
	Available-for-sale securities			48							$	48								48
	Held-to-maturity securities			1,002								998								998
	Loans receivable - net			270,310											$	271,295				271,295
	Federal Home Loan Bank stock			6,482																n/a
	Accrued interest receivable			706								706								706
	Financial liabilities
	Deposits		$	195,653			$	75,163			$	120,215							$	195,378
	Federal Home Loan Bank advances			53,052								53,043								53,043
	Advances by borrowers for taxes and insurance			762								762								762
	Accrued interest payable			22								22								22

							Fair Value Measurements at
	(in thousands)		Carrying				June 30, 2017 Using
			Value				Level 1				Level 2				Level 3				Total
	Financial assets
	Cash and cash equivalents		$	12,804			$	12,804											$	12,804
	Time deposits in other financial institutions			4,201				4,201												4,201
	Available-for-sale securities			71							$	71								71
	Held-to-maturity securities			1,487								1,523								1,523
	Loans receivable - net			258,244											$	269,606				269,606
	Federal Home Loan Bank stock			6,482																n/a
	Accrued interest receivable			679								679								679
	Financial liabilities
	Deposits		$	182,845			$	78,561			$	103,786							$	182,347
	Federal Home Loan Bank advances			55,780								55,881								55,881
	Advances by borrowers for taxes and insurance			818								818								818
	Accrued interest payable			21								21								21

Schedule of loans outstanding to executive officers, directors, significant shareholders and their affiliates

	(in thousands)		2018				2017
	Outstanding principal, beginning of year		$	983			$	1,043
	Changes in composition of related parties			--				--
	Principal disbursed during the year			53				--
	Principal repaid and refinanced during the year			(191	)			(60	)
	Outstanding principal, end of year		$	845			$	983

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI http://asc.fasb.org/extlink&oid=99377789&loc=SL7498348-110258

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration