|
CONSOLIDATED STATEMENTS OF INCOME (USD $) In Thousands, except Share data, unless otherwise specified
|
3 Months Ended |
|
Sep. 30, 2012
|
Sep. 30, 2011
|
| Interest and Dividend Income: |
|
|
| Interest and fees on loans |
$ 2,551 |
$ 2,775 |
| Securities available-for-sale |
669 |
872 |
| Interest on deposits with banks |
5 |
6 |
| Total interest and dividend income |
3,225 |
3,653 |
| Interest Expense: |
|
|
| Deposits |
248 |
289 |
| FHLB advances & other borrowings |
294 |
583 |
| Subordinated debentures |
24 |
22 |
| Total interest expense |
566 |
894 |
| Net Interest Income |
2,659 |
2,759 |
| Loan loss provision |
235 |
258 |
| Net interest income after loan loss provision |
2,424 |
2,501 |
| Noninterest income: |
|
|
| Service charges on deposit accounts |
166 |
190 |
| Net gain on sale of loans |
812 |
236 |
| Mortgage loan servicing fees |
234 |
228 |
| Net gain on sale of available for sale securities |
67 |
57 |
| Net loss on sale of OREO |
(17) |
|
| Net gain (loss) on fair value hedge FASB ASC 815 |
37 |
(330) |
| Other |
276 |
188 |
| Total noninterest income |
1,575 |
569 |
| Noninterest expense: |
|
|
| Salaries and employee benefits |
1,441 |
1,167 |
| Occupancy and equipment expense |
342 |
343 |
| Data processing |
147 |
151 |
| Advertising |
201 |
131 |
| Amortization of mortgage servicing rights |
187 |
93 |
| Federal insurance premiums |
49 |
30 |
| Postage |
26 |
25 |
| Legal, accounting, and examination fees |
91 |
72 |
| Consulting fees |
26 |
87 |
| Acquisition costs |
477 |
|
| Provision for valuation loss on OREO |
68 |
|
| Other |
380 |
356 |
| Total noninterest expense |
3,435 |
2,455 |
| Income before provision for income taxes |
564 |
615 |
| Provision for income taxes |
142 |
187 |
| Net income |
$ 422 |
$ 428 |
| Basic earnings per common share |
$ 0.11 |
$ 0.11 |
| Diluted earnings per common share |
$ 0.11 |
$ 0.11 |
| Weighted average shares outstanding (basic eps) |
3,724,789 |
3,739,610 |
| Weighted average shares outstanding (diluted eps) |
3,928,945 |
3,912,326 |