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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Mar. 31, 2015	Apr. 30, 2015
Document and Entity Information
Entity Registrant Name	NORTHEAST BANCORP /ME/
Entity Central Index Key	0000811831
Document Type	10-Q
Document Period End Date	Mar. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Voting common stock
Document and Entity Information
Entity Common Stock, Shares Outstanding		8,894,721
Non-voting common stock
Document and Entity Information
Entity Common Stock, Shares Outstanding		911,488

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2015	Jun. 30, 2014
Assets
Cash and due from banks	$ 2,496	$ 3,372
Short-term investments	102,577	78,887
Total cash and cash equivalents	105,073	82,259
Available-for-sale securities, at fair value	105,523	113,881
Loans held for sale	4,439	11,945
Loans	579,193	516,416
Less: Allowance for loan losses	1,741	1,367
Loans, net	577,452	515,049
Premises and equipment, net	8,095	9,135
Real estate owned and other repossessed collateral, net	3,694	1,991
Federal Home Loan Bank stock, at cost	4,102	4,102
Intangible assets, net	2,338	2,798
Bank owned life insurance	15,165	14,836
Other assets	7,047	5,935
Total assets	832,928	761,931
Deposits
Demand	50,870	50,140
Savings and interest checking	98,050	98,340
Money market	163,004	83,901
Time	343,253	341,948
Total deposits	655,177	574,329
Federal Home Loan Bank advances	30,216	42,824
Wholesale repurchase agreements	10,077	10,199
Short-term borrowings	2,861	2,984
Junior subordinated debentures issued to affiliated trusts	8,578	8,440
Capital lease obligation	1,416	1,558
Other liabilities	12,116	9,531
Total liabilities	720,441	649,865
Commitments and contingencies
Stockholders' equity
Preferred stock, $1.00 par value, 1,000,000 shares authorized; no shares issued and outstanding at March 31, 2015 and June 30, 2014
Additional paid-in capital	87,348	90,914
Retained earnings	16,968	12,294
Accumulated other comprehensive loss	(1,648)	(1,283)
Total stockholders' equity	112,487	112,066
Total liabilities and stockholders' equity	832,928	761,931
Voting common stock
Stockholders' equity
Common stock	8,908	9,260
Total stockholders' equity	8,908	9,260
Non-voting common stock
Stockholders' equity
Common stock	911	881
Total stockholders' equity	$ 911	$ 881

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2015	Jun. 30, 2014
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Voting common stock
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common stock, shares authorized	25,000,000	25,000,000
Common stock, issued	8,908,121	9,260,331
Common stock, outstanding	8,908,121	9,260,331
Non-voting common stock
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common stock, shares authorized	3,000,000	3,000,000
Common stock, issued	911,488	880,963
Common stock, outstanding	911,488	880,963

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Interest and dividend income:
Interest and fees on loans	$ 10,619	$ 8,403	$ 32,487	$ 27,142
Interest on available-for-sale securities	222	253	697	797
Other interest and dividend income	72	61	218	208
Total interest and dividend income	10,913	8,717	33,402	28,147
Interest expense:
Deposits	1,271	1,022	3,681	3,048
Federal Home Loan Bank advances	257	324	845	975
Wholesale repurchase agreements	71	93	216	285
Short-term borrowings	5	6	21	17
Junior subordinated debentures issued to affiliated trusts	171	140	566	525
Obligation under capital lease agreements	18	20	56	63
Total interest expense	1,793	1,605	5,385	4,913
Net interest and dividend income before provision for loan losses	9,120	7,112	28,017	23,234
Provision for loan losses	44	180	477	407
Net interest and dividend income after provision for loan losses	9,076	6,932	27,540	22,827
Noninterest income:
Fees for other services to customers	303	385	1,089	1,246
Gain on sales of loans held for sale	355	265	1,384	1,145
Gain on sales of portfolio loans	425	373	950	603
Gain recognized on real estate owned and other repossessed collateral, net	357	165	303	50
Bank-owned life insurance income	110	108	329	342
Other noninterest income	4	12	23	46
Total noninterest income	1,554	1,308	4,078	3,432
Noninterest expense:
Salaries and employee benefits	4,316	3,759	13,586	12,624
Occupancy and equipment expense	1,278	1,450	3,662	4,075
Professional fees	386	366	1,153	1,115
Data processing fees	361	257	1,029	770
Marketing expense	54	86	203	225
Loan acquisition and collection expense	409	440	1,096	1,203
FDIC insurance premiums	137	127	371	354
Intangible asset amortization	128	162	460	582
Legal settlement recovery				(250)
Other noninterest expense	816	869	2,272	2,284
Total noninterest expense	7,885	7,516	23,832	22,982
Income from continuing operations before income tax expense	2,745	724	7,786	3,277
Income tax expense	993	287	2,810	1,119
Net income from continuing operations	1,752	437	4,976	2,158
(Loss) income from discontinued operations before tax (benefit) expense				(12)
Income tax (benefit) expense				(4)
Net (loss) income				(8)
Net income	$ 1,752	$ 437	$ 4,976	$ 2,150
Weighted-average shares outstanding:
Basic (in shares)	9,833,033	10,432,494	10,049,983	10,435,300
Diluted (in shares)	9,833,033	10,432,494	10,049,983	10,435,300
Basic:
Income from continuing operations (in dollars per share)	$ 0.18	$ 0.04	$ 0.50	$ 0.21
Net Income (in dollars per share)	0.18	0.04	0.50	0.21
Diluted:
Income from continuing operations (in dollars per share)	0.18	0.04	0.50	0.21
Net income (in dollars per share)	0.18	0.04	0.50	0.21
Cash dividends declared per common share (in dollars per share)	$ 0.01	$ 0.09	$ 0.03	$ 0.27

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 1,752	$ 437	$ 4,976	$ 2,150
Available-for-sale securities:
Change in net unrealized gain or loss on available-for-sale securities	571	579	834	449
Total available-for-sale securities	571	579	834	449
Derivatives and hedging activities:
Change in accumulated loss on effective cash flow hedges	(566)	(528)	(1,341)	56
Reclassification adjustments for net gains included in net income	(16)	(72)	(49)	(108)
Total derivatives and hedging activities	(582)	(600)	(1,390)	(52)
Total other comprehensive (loss) income, before tax	(11)	(21)	(556)	397
Income tax (benefit) expense related to other comprehensive (loss) income	(4)	(7)	(191)	135
Other comprehensive (loss) income, net of tax	(7)	(14)	(365)	262
Comprehensive income	$ 1,745	$ 423	$ 4,611	$ 2,412

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Voting common stock	Non-voting common stock	Total
Balance at Jun. 30, 2013	$ 92,745	$ 12,524	$ (1,914)	$ 9,566	$ 881	$ 113,802
Balance (in shares) at Jun. 30, 2013				9,565,680	880,963
Net income		2,150				2,150
Other comprehensive income (loss), net of tax			262			262
Dividends on common stock at $0.03 and $0.27 per share for the nine month periods ended March 31, 2015 and 2014, respectively		(2,818)				(2,818)
Stock-based compensation	612					612
Forfeiture of restricted common stock	14			$ (14)
Forfeiture of restricted common stock (in shares)				(14,149)
Balance at Mar. 31, 2014	93,371	11,856	(1,652)	$ 9,552	$ 881	114,008
Balance (in shares) at Mar. 31, 2014				9,551,531	880,963
Balance at Jun. 30, 2014	90,914	12,294	(1,283)	$ 9,260	$ 881	112,066
Balance (in shares) at Jun. 30, 2014				9,260,331	880,963
Net income		4,976				4,976
Other comprehensive income (loss), net of tax			(365)			(365)
Common stock repurchased	(3,912)			$ (480)		(4,392)
Common stock repurchased (in shares)				(479,936)
Conversion of voting common stock to non-voting common stock				$ (30)	$ 30
Conversion of voting common stock to non-voting common stock (in shares)				(30,525)	30,525
Dividends on common stock at $0.03 and $0.27 per share for the nine month periods ended March 31, 2015 and 2014, respectively		(302)				(302)
Stock-based compensation	504					504
Issuance of restricted common stock	(174)			$ 174
Issuance of restricted common stock (in shares)				174,000
Forfeiture of restricted common stock	16			$ (16)
Forfeiture of restricted common stock (in shares)				(15,749)
Balance at Mar. 31, 2015	$ 87,348	$ 16,968	$ (1,648)	$ 8,908	$ 911	$ 112,487
Balance (in shares) at Mar. 31, 2015				8,908,121	911,488

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Dividends on common stock (in dollars per share)	$ 0.01	$ 0.09	$ 0.03	$ 0.27

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating activities:
Net income	$ 4,976	$ 2,150
Adjustments to reconcile net income to net cash provided by (used in) by operating activities:
Provision for loan losses	477	407
Gain on sale and impairment of real estate owned and other repossessed collateral, net	(303)	(50)
Originations of loans held for sale	(68,734)	(62,911)
Net proceeds from sales of loans held for sale	77,624	62,823
Gain on sales of loans held for sale	(1,384)	(1,145)
Gain on sales of portfolio loans	(950)	(603)
Amortization of intangible assets	460	582
Bank-owned life insurance income, net	(329)	(342)
Depreciation of premises and equipment	1,259	1,540
Loss on sale of premises and equipment	23	16
Stock-based compensation	504	612
Amortization of securities, net	765	972
Changes in other assets and liabilities:
Other assets	(687)	(1,978)
Other liabilities	1,197	(460)
Net cash provided by (used in) operating activities	5,498	(4,115)
Investing activities:
Purchases of available-for-sale securities		(42,340)
Proceeds from maturities and principal payments on available-for-sale securities	8,427	50,682
Loan purchases	(57,896)	(46,267)
Proceeds from sales of portfolio loans	7,200	5,575
Loan originations, principal collections, and purchased loan paydowns, net	(4,434)	(33,757)
Purchases of premises and equipment	(385)	(703)
Proceeds from sales of premises and equipment	143	11
Proceeds from sales of real estate owned and other repossessed collateral	713	1,160
Net cash used in investing activities	(46,232)	(65,639)
Financing activities:
Net increase in deposits	81,007	79,176
Net (decrease) increase in short-term borrowings	(123)	1,960
Repurchase of common stock	(4,392)
Dividends paid on common stock	(302)	(2,818)
Proceeds from FHLB advances		15,000
Repayments of FHLB advances	(12,500)
Repayment of wholesale repurchase agreements		(15,000)
Repayment of capital lease obligation	(142)	(135)
Net cash provided by financing activities	63,548	78,183
Net decrease in cash and cash equivalents	22,814	8,429
Cash and cash equivalents, beginning of period	82,259	65,934
Cash and cash equivalents, end of period	105,073	74,363
Supplemental schedule of noncash investing and financing activities:
Transfers from loans to real estate owned and other repossessed collateral	2,104	2,174
Transfers from real estate owned and other repossessed collateral to loans		1,155
Loans
Adjustments to reconcile net income to net cash provided by (used in) by operating activities:
Accretion of fair value adjustments, net	(9,149)	(5,048)
Deposits
Adjustments to reconcile net income to net cash provided by (used in) by operating activities:
Accretion of fair value adjustments, net	(159)	(489)
Borrowings
Adjustments to reconcile net income to net cash provided by (used in) by operating activities:
Accretion of fair value adjustments, net	$ (92)	$ (191)

Basis of Presentation	9 Months Ended
Basis of Presentation	Mar. 31, 2015
Basis of Presentation
Basis of Presentation	1. Basis of Presentation The accompanying unaudited condensed and consolidated interim financial statements include the accounts of Northeast Bancorp (“Northeast” or the “Company”) and its wholly-owned subsidiary, Northeast Bank (the “Bank”). These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, the accompanying consolidated financial statements contain all adjustments (consisting principally of normal recurring accruals) considered necessary for a fair presentation of the Company’s financial position, results of operations, and cash flows for the interim periods presented. These financial statements and notes should be read in conjunction with the audited consolidated financial statements and notes thereto for the fiscal year ended June 30, 2014 (“Fiscal 2014”) included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Recent Accounting Pronouncements	9 Months Ended
Recent Accounting Pronouncements	Mar. 31, 2015
Recent Accounting Pronouncements
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements In January 2014, the FASB issued ASU No. 2014-01, Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects (“ASU 2014-01”). The amendments in ASU 2014-01 provide guidance on accounting for investments by a reporting entity in flow-through limited liability entities that manage or invest in affordable housing projects that qualify for the low-income housing tax credit. The amendments permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received, and recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The amendments are effective for fiscal years, and interim periods within those years, beginning after December 31, 2014 and should be applied retrospectively to all periods presented. Early adoption is permitted. The Company does not expect ASU 2014-01 to have material impact on the consolidated financial statements. In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). ASU 2014-09 implements a common revenue standard that clarifies the principles for recognizing revenue. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when (or as) the entity satisfies a performance obligation. ASU 2014-09 is effective January 1, 2017 and is not expected to have a significant impact on the Company’s financial statements. In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures (“ASU 2014-11”). ASU 2014-11 requires that repurchase-to-maturity transactions be accounted for as secured borrowings consistent with the accounting for other repurchase agreements. In addition, ASU 2014-11 requires separate accounting for repurchase financings, which entails the transfer of a financial asset executed contemporaneously with a repurchase agreement with the same counterparty. ASU 2014-11 requires entities to disclose certain information about transfers accounted for as sales in transactions that are economically similar to repurchase agreements. In addition, ASU 2014-11 requires disclosures related to collateral, remaining contractual tenor and of the potential risks associated with repurchase agreements, securities lending transactions and repurchase-to-maturity transactions. ASU 2014-11 is effective January 1, 2015 and is not expected to have a significant impact on the Company’s financial statements. In August 2014, the FASB issued ASU 2014-14, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure (“ASU 2014-14”). ASU 2014-14 affects creditors that hold government-guaranteed mortgage loans, including those guaranteed by the Federal Housing Administration (FHA) of the U.S. Department of Housing and Urban Development (HUD), and the U.S. Department of Veterans Affairs (VA). The update requires that, upon foreclosure, a guaranteed mortgage loan be derecognized and a separate other receivable be recognized when specific criteria are met. ASU 2014-14 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2014. The adoption of this guidance is not expected to have a significant impact on the Company’s financial statements.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Direct Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6510796

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22583-107794

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Indirect Effects of a Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6515603

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22580-107794

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.10-01.(b)(6))
-URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Accounting Change
-URI http://asc.fasb.org/extlink&oid=6503790

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=28359718&loc=d3e22499-107794

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Retrospective Application
-URI http://asc.fasb.org/extlink&oid=6523989

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 01
-Paragraph b
-Subparagraph 6
-Article 10

+ Details

Securities Available-for-Sale

9 Months Ended

Mar. 31, 2015

Securities Available-for-Sale

Securities Available-for-Sale

3. Securities Available-for-Sale

The following presents a summary of the amortized cost, gross unrealized holding gains and losses, and fair value of securities available for sale.

	March 31, 2015
	Amortized		Gross Unrealized		Gross Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in thousands)
U.S. Government agency securities	$	48,246	$	38	$	(1	)	$	48,283
Agency mortgage-backed securities	57,721		26		(507		)	57,240
	$	105,967	$	64	$	(508	)	$	105,523

	June 30, 2014
	Amortized		Gross Unrealized		Gross Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in thousands)
U.S. Government agency securities	$	48,415	$	31	$	(28	)	$	48,418
Agency mortgage-backed securities	66,744		3		(1,284		)	65,463
	$	115,159	$	34	$	(1,312	)	$	113,881

When securities are sold, the adjusted cost of the specific security sold is used to compute the gain or loss on sale. There were no securities sold during the three and nine months ended March 31, 2015 or 2014. At March 31, 2015, investment securities with a fair value of approximately $34.2 million were pledged as collateral to secure outstanding borrowings.

The following summarizes the Company’s gross unrealized losses and fair values aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.

	March 31, 2015
	Less than 12 Months					More than 12 Months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
	(Dollars in thousands)
U.S. Government agency securities	$	6,058	$	(1	)	$	—	$	—		$	6,058	$	(1	)
Agency mortgage-backed securities	2,085		(21		)	52,938		(486		)	55,023		(507		)
	$	8,143	$	(22	)	$	52,938	$	(486	)	$	61,081	$	(508	)

	June 30, 2014
	Less than 12 Months					More than 12 Months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
	(Dollars in thousands)
U.S. Government agency securities	$	24,141	$	(28	)	$	—	$	—		$	24,141	$	(28	)
Agency mortgage-backed securities	—		—			62,734		(1,284		)	62,734		(1,284		)
	$	24,141	$	(28	)	$	62,734	$	(1,284	)	$	86,875	$	(1,312	)

There were no other-than-temporary impairment losses on securities during the three and nine months ended March 31, 2015 or 2014.

At March 31, 2015, the Company had twenty-two securities in a continuous loss position for greater than twelve months. At March 31, 2015, all of the Company’s available-for-sale securities were issued or guaranteed by either government agencies or government-sponsored enterprises. The decline in fair value of the Company’s available-for-sale securities at March 31, 2015 is attributable to changes in interest rates.

Management of the Company, in addition to considering current trends and economic conditions that may affect the quality of individual securities within the Company’s investment portfolio, also considers the Company’s ability and intent to hold such securities to maturity or recovery of cost. At March 31, 2015, it is more likely than not that the Company will not sell or be required to sell the investment securities before recovery of its amortized cost. As such, management does not believe any of the Company’s available-for-sale securities are other-than-temporarily impaired at March 31, 2015.

The amortized cost and fair values of available-for-sale debt securities by contractual maturity are shown below as of March 31, 2015. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized		Fair
	Cost		Value
	(Dollars in thousands)
Due within one year	$	24,028	$	24,045
Due after one year through five years	24,218		24,237
Due after five years through ten years	28,263		28,188
Due after ten years	29,458		29,053
	$	105,967	$	105,523

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

Loans, Allowance for Loan Losses and Credit Quality

9 Months Ended

Mar. 31, 2015

Loans, Allowance for Loan Losses and Credit Quality

Loans, Allowance for Loan Losses and Credit Quality

4. Loans, Allowance for Loan Losses and Credit Quality

Loans are carried at the principal amounts outstanding, or amortized acquired fair value in the case of acquired loans, adjusted by partial charge-offs and net of deferred loan costs or fees. Loan fees and certain direct origination costs are deferred and amortized into interest income over the expected term of the loan using the level-yield method. When a loan is paid off, the unamortized portion is recognized in interest income. Interest income is accrued based upon the daily principal amount outstanding except for loans on nonaccrual status.

Loans purchased by the Company are accounted for under ASC 310-30, Receivables — Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310-30”). At acquisition, the effective interest rate is determined based on the discount rate that equates the present value of the Company’s estimate of cash flows with the purchase price of the loan. Prepayments are not assumed in determining a purchased loan’s effective interest rate and income accretion. The application of ASC 310-30 limits the yield that may be accreted on the purchased loan, or the “accretable yield,” to the excess of the Company’s estimate, at acquisition, of the expected undiscounted principal, interest, and other cash flows over the Company’s initial investment in the loan. The excess of contractually required payments receivable over the cash flows expected to be collected on the loan represents the purchased loan’s “nonaccretable difference.” Subsequent improvements in expected cash flows of loans with nonaccretable differences result in a prospective increase to the loan’s effective yield through a reclassification of some, or all, of the nonaccretable difference to accretable yield. The effect of subsequent credit-related declines in expected cash flows of purchased loans are recorded through a specific allocation in the allowance for loan losses.

Loans are generally placed on nonaccrual status when they are past due 90 days as to either principal or interest, or when in management’s judgment the collectability of interest or principal of the loan has been significantly impaired. Loans accounted for under ASC 310-30 are placed on nonaccrual when it is not possible to reach a reasonable expectation of the timing and amount of cash flows to be collected on the loan. When a loan has been placed on nonaccrual status, previously accrued and uncollected interest is reversed against interest on loans. Interest on nonaccrual loans is accounted for on a cash-basis or using the cost-recovery method when collectability is doubtful. A loan is returned to accrual status when collectability of principal is reasonably assured and the loan has performed for a reasonable period of time.

In cases where a borrower experiences financial difficulties and the Company makes certain concessionary modifications to contractual terms, the loan is classified as a troubled debt restructuring (“TDR”), and therefore by definition is an impaired loan. Concessionary modifications may include adjustments to interest rates, extensions of maturity, and other actions intended to minimize economic loss and avoid foreclosure or repossession of collateral. For loans accounted for under ASC 310-30, the Company evaluates whether it has granted a concession by comparing the restructured debt terms to the expected cash flows at acquisition plus any additional cash flows expected to be collected arising from changes in estimate after acquisition. As a result, if an ASC 310-30 loan is modified to be consistent with, or better than, the Company’s expectations at acquisition, the loan would not qualify as a TDR. Nonaccrual loans that are restructured generally remain on nonaccrual status for a minimum period of six months to demonstrate that the borrower can meet the restructured terms. If the restructured loan is on accrual status prior to being modified, it is reviewed to determine if the modified loan should remain on accrual status. If the borrower’s ability to meet the revised payment schedule is not reasonably assured, the loan is classified as a nonaccrual loan. With limited exceptions, loans classified as TDRs remain classified as such until the loan is paid off.

The composition of the Company’s loan portfolio is as follows on the dates indicated.

	March 31, 2015						June 30, 2014
	Originated		Purchased		Total		Originated		Purchased		Total
	(Dollars in thousands)
Residential real estate	$	110,314	$	2,143	$	112,457	$	116,972	$	3,687	$	120,659
Home equity	24,321		—		24,321		27,975		—		27,975
Commercial real estate	134,483		193,284		327,767		116,617		199,481		316,098
Commercial business	106,015		256		106,271		41,518		282		41,800
Consumer	8,377		—		8,377		9,884		—		9,884
Total loans	$	383,510	$	195,683	$	579,193	$	312,966	$	203,450	$	516,416

Past Due and Nonaccrual Loans

The following is a summary of past due and non-accrual loans:

	March 31, 2015
					Past Due		Past Due
					90 Days or		90 Days or		Total						Non-
	30-59		60-89		More-Still		More-		Past		Total		Total		Accrual
	Days		Days		Accruing		Nonaccrual		Due		Current		Loans		Loans
	(Dollars in thousands)
Originated portfolio:
Residential real estate	$	370	$	394	$	—	$	1,140	$	1,904	$	108,410	$	110,314	$	3,163
Home equity	—		—		—		11		11		24,310		24,321		11
Commercial real estate	435		197		—		904		1,536		132,947		134,483		1,201
Commercial business	2		—		—		—		2		106,013		106,015		—
Consumer	194		86		—		63		343		8,034		8,377		225
Total originated portfolio	1,001		677		—		2,118		3,796		379,714		383,510		4,600
Purchased portfolio:
Residential real estate	—		—		—		—		—		2,143		2,143		—
Commercial business	—		—		—		—		—		256		256		—
Commercial real estate	5,868		—		—		5,204		11,072		182,212		193,284		5,850
Total purchased portfolio	5,868		—		—		5,204		11,072		184,611		195,683		5,850
Total loans	$	6,869	$	677	$	—	$	7,322	$	14,868	$	564,325	$	579,193	$	10,450

	June 30, 2014
					Past Due		Past Due
					90 Days or		90 Days or		Total						Non-
	30-59		60-89		More-Still		More-		Past		Total		Total		Accrual
	Days		Days		Accruing		Nonaccrual		Due		Current		Loans		Loans
	(Dollars in thousands)
Originated portfolio:
Residential real estate	$	222	$	728	$	—	$	1,573	$	2,523	$	114,449	$	116,972	$	1,743
Home equity	109		7		—		120		236		27,739		27,975		160
Commercial real estate	126		136		—		629		891		115,726		116,617		1,162
Commercial business	—		—		—		—		—		41,518		41,518		5
Consumer	188		24		—		49		261		9,623		9,884		139
Total originated portfolio	645		895		—		2,371		3,911		309,055		312,966		3,209
Purchased portfolio:
Residential real estate	—		—		—		—		—		3,687		3,687		—
Commercial business	—		—		—		—		—		282		282		—
Commercial real estate	—		—		—		1,995		1,995		197,486		199,481		4,116
Total purchased portfolio	—		—		—		1,995		1,995		201,455		203,450		4,116
Total loans	$	645	$	895	$	—	$	4,366	$	5,906	$	510,510	$	516,416	$	7,325

Allowance for Loan Losses and Impaired Loans

The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. For residential and consumer loans, a charge-off is recorded no later than the point at which a loan is 180 days past due if the loan balance exceeds the fair value of the collateral, less costs to sell. For commercial loans, a charge-off is recorded on a case-by-case basis when all or a portion of the loan is deemed to be uncollectible. Subsequent recoveries, if any, are credited to the allowance.

The allowance for loan losses consists of general, specific, and unallocated reserves and reflects management’s estimate of probable loan losses inherent in the loan portfolio at the balance sheet date. Management uses a consistent and systematic process and methodology to evaluate the appropriateness of the allowance for loan losses on a quarterly basis. The calculation of the allowance for loan losses is segregated by portfolio segments, which include: commercial real estate, commercial business, consumer, residential real estate, and purchased loans. Risk characteristics relevant to each portfolio segment are as follows:

Residential real estate: All loans in this segment are collateralized by residential real estate and repayment is primarily dependent on the credit quality of the individual borrower. The overall health of the economy, particularly unemployment rates and housing prices, has a significant effect on the credit quality in this segment. For purposes of the Company’s allowance for loan loss calculation, home equity loans and lines of credit are included in residential real estate.

Commercial real estate: Loans in this segment are primarily income-producing properties. For owner-occupied properties, the cash flows are derived from an operating business, and the underlying cash flows may be adversely affected by deterioration in the financial condition of the operating business. The underlying cash flows generated by non-owner occupied properties may be adversely affected by increased vacancy rates. Management periodically obtains rent rolls, with which it monitors the cash flows of these loans. Adverse developments in either of these areas will have an adverse effect on the credit quality of this segment. For purposes of the allowance for loan losses, this segment also includes construction loans.

Commercial business: Loans in this segment are made to businesses and are generally secured by the assets of the business. Repayment is expected from the cash flows of the business. Weakness in national or regional economic conditions, and a corresponding weakness in consumer or business spending, will have an adverse effect on the credit quality of this segment.

Consumer: Loans in this segment are generally secured, and repayment is dependent on the credit quality of the individual borrower. Repayment of consumer loans is generally based on the earnings of individual borrowers, which may be adversely impacted by regional labor market conditions.

Purchased: Loans in this segment are typically secured by commercial real estate, multi-family residential real estate, or business assets and have been acquired by the Bank’s Loan Acquisition and Servicing Group (“LASG”). Loans acquired by the LASG are, with limited exceptions, performing loans at the date of purchase. Loans in this segment acquired with specific material credit deterioration since origination are identified as purchased credit-impaired. Repayment of loans in this segment is largely dependent on cash flow from the successful operation of the property, in the case of non-owner occupied property, or operating business, in the case of owner-occupied property. Loan performance may be adversely affected by factors affecting the general economy or conditions specific to the real estate market, such as geographic location or property type. Loans in this segment are evaluated for impairment under ASC 310-30. The Company reviews expected cash flows from purchased loans on a quarterly basis. The effect of a decline in expected cash flows subsequent to the acquisition of the loan is recognized through a specific allocation in the allowance for loan losses.

The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by loan segment. The Company does not weight periods used in that analysis to determine the average loss rate in each portfolio segment. This historical loss factor is adjusted for the following qualitative factors:

Levels and trends in delinquencies and nonperforming loans

Trends in the volume and nature of loans

Trends in credit terms and policies, including underwriting standards, procedures and practices, and the experience and ability of lending management and staff

Trends in portfolio concentration

National and local economic trends and conditions

Effects of changes or trends in internal risk ratings

Other effects resulting from trends in the valuation of underlying collateral

There were no significant changes in the Company’s policies or methodology pertaining to the general component of the allowance for loan losses during the three and nine months ended March 31, 2015 or 2014.

The allocated component of the allowance for loan losses relates to loans that are classified as impaired. Impairment is measured on a loan-by-loan basis for commercial business and commercial real estate loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows or collateral value of the impaired loan is lower than the carrying value of that loan. Large groups of smaller-balance homogeneous loans, such as consumer and residential real estate loans are collectively evaluated for impairment based on the group’s historical loss experience adjusted for qualitative factors. Accordingly, the Company does not separately identify individual consumer and residential loans for individual impairment and disclosure. However, all TDRs are individually reviewed for impairment.

For all portfolio segments, except loans accounted for under ASC 310-30, a loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. For the purchased loan segment, a loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to realize cash flows as estimated at acquisition. For loans accounted for under ASC 310-30 for which cash flows can reasonably be estimated, loan impairment is measured based on the decrease in expected cash flows from those estimated at acquisition, excluding changes due to changes in interest rate indices and other non-credit related factors, discounted at the loan’s effective rate assumed at acquisition. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting the scheduled principal and interest payments when due.

The following table sets forth activity in the Company’s allowance for loan losses.

	Three Months Ended March 31, 2015
	Residential			Commercial		Commercial
	Real Estate			Real Estate		Business			Consumer			Purchased			Unallocated		Total
	(Dollars in thousands)
Beginning balance	$	796		$	288	$	54		$	59		$	413		$	54	$	1,664
Provision	(38		)	187		(45		)	(13		)	(87		)	40		44
Recoveries	1			—		35			4			—			—		40
Charge-offs	—			—		(1		)	(6		)	—			—		(7		)
Ending balance	$	759		$	475	$	43		$	44		$	326		$	94	$	1,741

	Three Months Ended March 31, 2014
	Residential			Commercial		Commercial
	Real Estate			Real Estate		Business			Consumer			Purchased			Unallocated			Total
	(Dollars in thousands)
Beginning balance	$	649		$	321	$	52		$	112		$	207		$	9		$	1,350
Provision	151			—		41			25			(28		)	(9		)	180
Recoveries	1			1		1			5			—			—			8
Charge-offs	(123		)	—		(43		)	(27		)	—			—			(193		)
Ending balance	$	678		$	322	$	51		$	115		$	179		$	—		$	1,345

	Nine Months Ended March 31, 2015
	Residential			Commercial		Commercial
	Real Estate			Real Estate		Business			Consumer			Purchased		Unallocated		Total
	(Dollars in thousands)
Beginning balance	$	580		$	358	$	48		$	79		$	267	$	35	$	1,367
Provision	322			116		(39		)	(40		)	59		59		477
Recoveries	17			1		35			17			—		—		70
Charge-offs	(160		)	—		(1		)	(12		)	—		—		(173		)
Ending balance	$	759		$	475	$	43		$	44		$	326	$	94	$	1,741

	Nine Months Ended March 31, 2014
	Residential			Commercial		Commercial
	Real Estate			Real Estate		Business			Consumer			Purchased		Unallocated			Total
	(Dollars in thousands)
Beginning balance	$	594		$	173	$	70		$	189		$	76	$	41		$	1,143
Provision	233			148		17			(53		)	103		(41		)	407
Recoveries	7			1		7			36			—		—			51
Charge-offs	(156		)	—		(43		)	(57		)	—		—			(256		)
Ending balance	$	678		$	322	$	51		$	115		$	179	$	—		$	1,345

The following table sets forth information regarding the allowance for loan losses by portfolio segment and impairment methodology.

	March 31, 2015
	Residential			Commercial				Commercial
	Real Estate			Real Estate				Business			Consumer			Purchased		Unallocated				Total
	(Dollars in thousands)
Allowance for loan losses:
Individually evaluated	$		412	$		17		$	—		2			$	287	$		—		$		718
Collectively evaluated	347			458				43			42			—		94				984
ASC 310-30	—			—				—			—			39		—				39
Total	$		759	$		475		$	43		$		44	$	326	$		94		$		1,741

Loans:
Individually evaluated	$		3,995	$		2,596		$	—		$		277	$	7,838	$		—		$		14,706
Collectively evaluated	130,640			131,887				106,015			8,100			—		—				376,642
ASC 310-30	—			—				—			—			187,845		—				187,845
Total	$		134,635	$		134,483		$	106,015		$		8,377	$	195,683	$		—		$		579,193

	June 30, 2014
	Residential				Commercial			Commercial
	Real Estate				Real Estate			Business		Consumer				Purchased		Unallocated			Total
	(Dollars in thousands)
Allowance for loan losses:
Individually evaluated	$	190			$		84	$	—	$		6		$	166	$	—		$		446
Collectively evaluated	390				274			48		73				—		35			820
ASC 310-30	—				—			—		—				101		—			101
Total	$	580			$		358	$	48	$		79		$	267	$	35		$		1,367

Loans:
Individually evaluated	$	2,314			$		2,549	$	—	$		240		$	4,747	$	—		$		9,850
Collectively evaluated	142,633				114,068			41,518		9,644				—		—			307,863
ASC 310-30	—				—			—		—				198,703		—			198,703
Total	$	144,947			$		116,617	$	41,518	$		9,884		$	203,450	$	—		$		516,416

The following table sets forth information regarding impaired loans. Loans accounted for under ASC 310-30 that have performed based on cash flow and accretable yield expectations determined at date of acquisition are not considered impaired assets and have been excluded from the tables below.

	March 31, 2015						June 30, 2014
			Unpaid						Unpaid
	Recorded		Principal		Related		Recorded		Principal		Related
	Investment		Balance		Allowance		Investment		Balance		Allowance
	(Dollars in thousands)
Impaired loans without a valuation allowance:
Originated:
Residential real estate	$	2,134	$	2,241	$	—	$	1,005	$	1,081	$	—
Consumer	247		259		—		200		205		—
Commercial real estate	1,512		1,517		—		1,368		1,371		—
Commercial business	—				—		—		—		—
Purchased:
Commercial real estate	6,630		8,703		—		2,857		4,148		—
Total	10,523		12,720		—		5,430		6,805		—

Impaired loans with a valuation allowance:
Originated:
Residential real estate	1,860		1,795		412		1,309		1,278		190
Consumer	30		30		2		40		47		6
Commercial real estate	1,085		1,075		17		1,181		1,187		84
Commercial business	—		—		—		—		—		—
Purchased:
Commercial real estate	1,208		1,648		286		1,890		2,215		166
Total	4,183		4,548		717		4,420		4,727		446
Total impaired loans	$	14,706	$	17,268	$	717	$	9,850	$	11,532	$	446

The following tables set forth information regarding interest income recognized on impaired loans.

	Three Months Ended March 31,
	2015				2014
	Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income
	Investment		Recognized		Investment		Recognized
	(Dollars in thousands)
Impaired loans without a valuation allowance:
Originated:
Residential real estate	$	1,754	$	27	$	1,032	$	16
Consumer	320		4		146		3
Commercial real estate	1,534		7		832		13
Commercial business	—		—		65		2
Purchased:
Commercial real estate	7,706		37		3,532		23
Total	11,314		75		5,607		57

Impaired loans with a valuation allowance:
Originated:
Residential real estate	1,957		31		1,262		13
Consumer	121		1		77		—
Commercial real estate	1,047		15		1,117		14
Commercial business	—		—		22		—
Purchased:
Commercial real estate	1,271		14		1,925		10
Total	4,396		61		4,403		37
Total impaired loans	$	15,710	$	136	$	10,010	$	94

	Nine Months Ended March 31,
	2015				2014
	Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income
	Investment		Recognized		Investment		Recognized
	(Dollars in thousands)
Impaired loans without a valuation allowance:
Originated:
Residential real estate	$	1,570	$	72	$	1,047	$	30
Consumer	224		75		115		5
Commercial real estate	1,440		44		635		27
Commercial business	—		1		64		8
Purchased:
Commercial real estate	4,743		197		2,584		71
Total	7,977		389		4,445		141

Impaired loans with a valuation allowance:
Originated:
Residential real estate	1,584		66		1,327		50
Consumer	35		17		84		3
Commercial real estate	1,133		46		1,119		59
Commercial business	—		—		38		1
Purchased:
Commercial real estate	1,549		38		1,062		58
Total	4,301		167		3,630		171
Total impaired loans	$	12,278	$	556	$	8,075	$	312

Credit Quality

The Company utilizes a ten-point internal loan rating system for commercial real estate, construction, commercial business, and certain residential loans as follows:

Loans rated 1 — 6: Loans in these categories are considered “pass” rated loans. Loans in categories 1-5 are considered to have low to average risk. Loans rated 6 are considered marginally acceptable business credits and have more than average risk.

Loans rated 7: Loans in this category are considered “special mention.” These loans show signs of potential weakness and are being closely monitored by management.

Loans rated 8: Loans in this category are considered “substandard.” Loans classified as substandard are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified have a well-defined weakness or weaknesses that jeopardize the orderly repayment of the debt.

Loans rated 9: Loans in this category are considered “doubtful.” Loans classified as doubtful have all the weaknesses inherent in one graded 8 with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable.

Loans rated 10: Loans in this category are considered “loss” and of such little value that their continuance as loans is not warranted.

On an annual basis, or more often if needed, the Company formally reviews the ratings of all loans subject to risk ratings. Semi-annually, the Company engages an independent third-party to review a significant portion of loans within these segments. Management uses the results of these reviews as part of its annual review process. Risk ratings on purchased loans, with and without evidence of credit deterioration at acquisition, are determined relative to the Company’s recorded investment in that loan, which may be significantly lower than the loan’s unpaid principal balance.

The following tables present the Company’s loans by risk rating.

	March 31, 2015
	Originated Portfolio
	Commercial		Commercial				Purchased
	Real Estate		Business		Residential(1)		Portfolio		Total
	(Dollars in thousands)
Loans rated 1- 6	$	128,268	$	105,852	$	9,676	$	183,897	$	427,693
Loans rated 7	4,412		34		963		5,255		10,664
Loans rated 8	1,803		129		479		6,531		8,942
Loans rated 9	—		—		—		—		—
Loans rated 10	—		—		—		—		—
	$	134,483	$	106,015	$	11,118	$	195,683	$	447,299

	June 30, 2014
	Originated Portfolio
	Commercial		Commercial				Purchased
	Real Estate		Business		Residential(1)		Portfolio		Total
	(Dollars in thousands)
Loans rated 1- 6	$	110,044	$	41,271	$	11,941	$	189,986	$	353,242
Loans rated 7	4,880		46		940		8,619		14,485
Loans rated 8	1,693		201		670		4,845		7,409
Loans rated 9	—		—		—		—		—
Loans rated 10	—		—		—		—		—
	$	116,617	$	41,518	$	13,551	$	203,450	$	375,136

(1)

Certain of the Company’s loans made for commercial purposes, but secured by residential collateral, are rated under the Company’s risk-rating system.

Troubled Debt Restructurings

The following table shows the Company’s post-modification balance of TDRs by type of modification.

	Three Months Ended March 31,						Nine Months Ended March 31,
	2015			2014			2015			2014
	Number of	Recorded		Number of	Recorded		Number of	Recorded		Number of	Recorded
	Contracts	Investment		Contracts	Investment		Contracts	Investment		Contracts	Investment
	(Dollars in thousands)
Extended maturity	—	$	—	1	$	305	3	$	590	5	$	2,082
Adjusted interest rate	4	256		1	36		8	451		2	118
Rate and maturity	2	11		2	65		5	212		2	65
Principal deferment	—	—		—	—		1	453		2	341
Court ordered concession	—	—		1	41		4	84		1	41
Other	—	—		2	171		—	—		2	171
	6	$	267	7	$	618	21	$	1,790	14	$	2,818

The following table shows loans modified in a TDR and the change in the recorded investment subsequent to the modifications occurring.

	Three Months Ended March 31,
	2015					2014
		Recorded		Recorded			Recorded		Recorded
	Number of	Investment		Investment		Number of	Investment		Investment
	Contracts	Pre-Modification		Post-Modification		Contracts	Pre-Modification		Post-Modification
	(Dollars in thousands)
Originated portfolio:
Residential real estate	2	$	231	$	231	4	$	164	$	164
Home equity	—	—		—		1	8		8
Commercial real estate	—	—		—		1	141		141
Commercial business	—	—		—		—	—		—
Consumer	4	36		36		—	—		—
Total originated portfolio	6	267		267		6	313		313

Purchased portfolio:
Residential real estate	—	—		—		—	—		—
Commercial real estate	—	—		—		1	305		305
Total purchased portfolio	—	—		—		1	305		305
Total	6	$	267	$	267	7	$	618	$	618

	Nine Months Ended March 31,
	2015					2014
		Recorded		Recorded			Recorded		Recorded
	Number of	Investment		Investment		Number of	Investment		Investment
	Contracts	Pre-Modification		Post-Modification		Contracts	Pre-Modification		Post-Modification
	(Dollars in thousands)
Originated portfolio:
Residential real estate	13	$	1,164	$	1,164	4	$	164	$	164
Home equity	—	—		—		2	22		22
Commercial real estate	1	200		200		2	464		464
Commercial business	—	—		—		1	18		18
Consumer	6	70		70		2	121		121
Total originated portfolio	20	1,434		1,434		11	789		789

Purchased portfolio:
Residential real estate	—	—		—		—	—		—
Commercial real estate	1	356		356		3	1,990		2,029
Total purchased portfolio	1	356		356		3	1,990		2,029
Total	21	$	1,790	$	1,790	14	$	2,779	$	2,818

The Company considers TDRs past due 90 days or more to be in payment default. Three loans modified in a TDR in the last twelve months defaulted during the nine months ended March 31, 2015; the recorded investment of such loans was $82 thousand. No loans modified in a TDR in the last twelve months defaulted during the three months ended March 31, 2015. As of March 31, 2015, there were no further commitments to lend associated with loans modified in a TDR.

ASC 310-30 Loans

The following table presents a summary of loans accounted for under ASC 310-30 that were acquired by the Company during the period indicated.

	Three Months Ended March 31, 2015			Nine Months Ended March 31, 2015
	(Dollars in thousands)
Contractually required payments receivable	$	8,712		$	96,482
Nonaccretable difference	(27		)	(1,956		)
Cash flows expected to be collected	8,685			94,526
Accretable yield	(3,622		)	(36,987		)
Fair value of loans acquired	$	5,063		$	57,539

Certain of the loans accounted for under ASC 310-30 that were acquired by the Company are not accounted for using the income recognition model because the Company cannot reasonably estimate cash flows expected to be collected. The carrying amounts of such loans are as follows.

	As of and for the Three Months Ended March 31, 2015		As of and for the Nine Months Ended March 31, 2015
	(Dollars in thousands)
Loans acquired during the period	$	—	$	357
Loans at end of period	5,503		5,503

The following table summarizes the activity in the accretable yield for loans accounted for under ASC 310-30.

	Three Months Ended March 31, 2015			Nine Months Ended March 31, 2015
	(Dollars in thousands)
Beginning balance	$	123,275		$	109,040
Acquisitions	3,622			36,987
Accretion	(4,214		)	(12,943		)
Reclassifications to accretable yield	62			72
Disposals and other changes	(8,336		)	(18,747		)
End balance	$	114,409		$	114,409

The following table provides information related to the unpaid principal balance and carrying amounts of ASC 310-30 loans.

	March 31, 2015		June 30, 2014
	(Dollars in thousands)
Unpaid principal balance	$	231,557	$	239,376
Carrying amount	$	193,072	$	201,171

Earnings Per Share (EPS)

9 Months Ended

Mar. 31, 2015

Earnings Per Share (EPS)

Earnings Per Share (EPS)

5. Earnings Per Share (EPS)

EPS is computed by dividing net income allocated to common shareholders by the weighted average common shares outstanding (including participating securities). The Company’s only participating securities are unvested restricted stock awards that contain non-forfeitable rights to dividends. The following table shows the weighted average number of shares outstanding for the periods indicated. Shares issuable relative to stock options granted have been reflected as an increase in the shares outstanding used to calculate diluted EPS, after applying the treasury stock method. The number of shares outstanding for basic and diluted EPS is presented as follows:

	Three months Ended March 31,				Nine months Ended March 31,
	2015		2014		2015		2014
	(Dollars in thousands, except share and per share data)

Net income	$	1,752	$	437	$	4,976	$	2,150

Weighted average shares used in calculation of basic EPS	9,833,033		10,432,494		10,049,983		10,435,300
Incremental shares from assumed exercise of dilutive securities	—		—		—		—
Weighted average shares used in calculation of diluted EPS	9,833,033		10,432,494		10,049,983		10,435,300

Earnings per common share:
Income from continuing operations	$	0.18	$	0.04	$	0.50	$	0.21
Income from discontinued operations	—		—		—		—
Earnings per common share	$	0.18	$	0.04	$	0.50	$	0.21

Diluted earnings per common share:
Income from continuing operations	$	0.18	$	0.04	$	0.50	$	0.21
Income from discontinued operations	—		—		—		—
Diluted earnings per common share	$	0.18	$	0.04	$	0.50	$	0.21

For the three and nine months ended March 31, 2015, the following stock options and warrants were excluded from the calculation of diluted EPS due to the exercise price of these options exceeding the average market price of the Company’s common stock for the period. These options, which were not dilutive at that date, may potentially dilute EPS in the future.

	Three Months Ended March 31,		Nine Months Ended March 31,
	2015	2014	2015	2014
Stock options	1,039,721	1,143,329	1,059,721	1,148,777
Warrants	—	—	—	—
	1,039,721	1,143,329	1,059,721	1,148,777

Fair Value Measurements

9 Months Ended

Mar. 31, 2015

Fair Value Measurements

Fair Value Measurements

6. Fair Value Measurements

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. The Company uses prices and inputs that are current as of the measurement date, including during periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified from one level to another. When market assumptions are not readily available, the Company’s own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date. If there has been a significant decrease in the volume and level of activity for the asset or liability, regardless of the valuation technique(s) used, the objective of a fair value measurement remains the same.

ASC 820 defines fair value and establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under ASC 820 are described below:

Level 1 — Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 2 — Valuations based on significant observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3 — Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.

To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

Valuation techniques - There have been no changes in the valuation techniques used during the current period.

Transfers- There were no transfers of assets and liabilities measured at fair value on a recurring or nonrecurring basis during the current period.

Assets and Liabilities Measured at Fair Value on a Recurring Basis:

Available-for-sale securities - Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Examples of such instruments include publicly-traded common and preferred stocks. If quoted prices are not available, then fair values are estimated by using pricing models ( i.e., matrix pricing) and market interest rates and credit assumptions or quoted prices of securities with similar characteristics and are classified within Level 2 of the valuation hierarchy. Examples of such instruments include government agency and government sponsored agency mortgage-backed securities, as well as certain preferred and trust preferred stocks. Level 3 securities are securities for which significant unobservable inputs are utilized.

Derivative financial instruments - The valuation of the Company’s interest rate swaps and caps are determined using widely accepted valuation techniques including discounted cash flow analyses on the expected cash flows of derivatives. These analyses reflect the contractual terms of the derivatives, including the period to maturity, and use observable market-based inputs, including interest rate curves and implied volatilities. Unobservable inputs, such as credit valuation adjustments are insignificant to the overall valuation of the Company’s derivative financial instruments. Accordingly, the Company has determined that its interest rate derivatives fall within Level 2 of the fair value hierarchy.

The fair value of derivative loan commitments and forward loan sale agreements are estimated using the anticipated market price based on pricing indications provided from syndicate banks. These commitments and agreements are categorized as Level 2. The fair value of such instruments was nominal at each date presented.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis:

Collateral Dependent Impaired Loans- Valuations of impaired loans measured at fair value are determined by a review of collateral values. Certain inputs used in appraisals are not always observable, and therefore impaired loans are generally categorized as Level 3 within the fair value hierarchy.

Real Estate Owned and Other Repossessed collateral - The fair values of real estate owned and other repossessed collateral are estimated based upon appraised values less estimated costs to sell. Certain inputs used in appraisals are not always observable, and therefore may be categorized as Level 3 within the fair value hierarchy. When inputs used in appraisals are primarily observable, they are classified as Level 2.

Fair Value of other Financial Instruments:

Cash and cash equivalents - The fair value of cash, due from banks, interest bearing deposits and FHLB overnight deposits approximates their relative book values, as these financial instruments have short maturities.

FHLB stock - The carrying value of FHLB stock approximates fair value based on redemption provisions of the FHLB.

Loans- Fair values are estimated for portfolios of loans with similar financial characteristics. The fair value of performing loans is calculated by discounting scheduled cash flows through the estimated maturity using estimated market discount rates that reflect the credit and interest rate risk inherent in the loan. The estimates of maturity are based on the Company’s historical experience with repayments for each loan classification, modified, as required, by an estimate of the effect of current economic conditions, lending conditions and the effects of estimated prepayments.

Loans held for sale - The fair value of loans held-for-sale is estimated based on bid quotations received from loan dealers.

Interest receivable - The fair value of this financial instrument approximates the book value as this financial instrument has a short maturity. It is the Company’s policy to stop accruing interest on loans past due by more than 90 days. Therefore, this financial instrument has been adjusted for estimated credit loss.

Deposits - The fair value of deposits with no stated maturity, such as noninterest-bearing demand deposits, savings, NOW accounts and money market accounts, is equal to the amount payable on demand. The fair values of time deposits are based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. The fair value estimates do not include the benefit that results from the low-cost funding provided by the deposit liabilities compared to the cost of borrowing funds in the market. If that value were considered, the fair value of the Company’s net assets could increase.

Borrowings - The fair value of the Company’s borrowings with the FHLB is estimated by discounting the cash flows through maturity or the next re-pricing date based on current rates available to the Company for borrowings with similar maturities. The fair value of the Company’s short-term borrowings, capital lease obligations, wholesale repurchase agreements and other borrowings is estimated by discounting the cash flows through maturity based on current rates available to the Company for borrowings with similar maturities.

Off-Balance Sheet Credit-Related Instruments - Fair values for off-balance-sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of such instruments was nominal at each date presented.

Assets and liabilities measured at fair value on a recurring basis are summarized below.

	March 31, 2015
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Assets
Securities available-for-sale:
U.S. Government agency securities	$	48,283	$	—	$	48,283	$	—
Agency mortgage-backed securities	57,240		—		57,240		—
Other assets — interest rate caps	212		—		212		—
Liabilities
Other liabilities — interest rate swaps	$	1,873	$	—	$	1,873	$	—

	June 30, 2014
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Assets
Securities available-for-sale:
U.S. Government agency securities	$	48,418	$	—	$	48,418	$	—
Agency mortgage-backed securities	65,463		—		65,463		—
Other assets — interest rate caps	—		—		—		—
Liabilities
Other liabilities — interest rate swap	$	714	$	—	$	714	$	—

Assets measured at fair value on a nonrecurring basis are summarized below.

	March 31, 2015
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Collateral dependent impaired loans	$	1,131	$	—	$	—	$	1,131
Real estate owned and other repossessed collateral	3,694		—		—		3,694

	June 30, 2014
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Collateral dependent impaired loans	$	1,467	$	—	$	—	$	1,467
Real estate owned and other repossessed collateral	1,991		—		—		1,991

The following table presents the estimated fair value of the Company’s financial instruments.

	Carrying		Fair Value Measurements at March 31, 2015
	Amount		Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial assets:
Cash and cash equivalents	$	105,073	$	105,073	$	105,073	$	—	$	—
Available-for-sale securities	105,523		105,523		—		105,523		—
Federal Home Loan Bank stock	4,102		4,102		—		4,102		—
Loans held for sale	4,439		4,439		—		4,439		—
Loans, net	577,452		583,837		—		—		583,837
Accrued interest receivable	1,215		1,215		—		1,215		—
Interest rate caps	212		212		—		212		—

Financial liabilities:
Deposits	655,177		655,816		—		655,816		—
FHLB advances	30,216		30,982		—		30,982		—
Wholesale repurchase agreements	10,077		10,198		—		10,198		—
Short-term borrowings	2,861		2,861		—		2,861		—
Capital lease obligation	1,416		1,502		—		1,502		—
Subordinated debentures	8,578		8,967		—		—		8,967
Interest rate swaps	1,873		1,873		—		1,873		—

	Carrying		Fair Value Measurements at June 30, 2014
	Amount		Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial assets:
Cash and cash equivalents	$	82,259	$	82,259	$	82,259	$	—	$	—
Available-for-sale securities	113,881		113,881		—		113,881		—
Federal Home Loan Bank stock	4,102		4,102		—		4,102		—
Loans held for sale	11,945		11,945		—		11,945		—
Loans, net	515,049		522,154		—		—		522,154
Accrued interest receivable	1,216		1,216		—		1,216		—
Interest rate caps	—		—		—		—		—

Financial liabilities:
Deposits	574,329		574,868		—		574,868		—
FHLB advances	42,824		43,843		—		43,843		—
Wholesale repurchase agreements	10,199		10,484		—		10,484		—
Short-term borrowings	2,984		2,984		—		2,984		—
Capital lease obligation	1,558		1,701		—		1,701		—
Subordinated debentures	8,440		7,858		—		—		7,858
Interest rate swaps	714		714		—		714		—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivatives and Hedging Activities

9 Months Ended

Mar. 31, 2015

Derivatives and Hedging Activities

Derivatives and Hedging Activities

7. Derivatives and Hedging Activities

The Company has stand-alone derivative financial instruments in the form of interest rate caps that derive their value from a fee paid and are adjusted to fair value based on index and strike rate, and swap agreements that derive their value from the underlying interest rate. These transactions involve both credit and market risk. The notional amounts are amounts on which calculations, payments and the value of the derivative are based. Notional amounts do not represent direct credit exposures. Direct credit exposure arises in the event of nonperformance by the counterparties to these agreements, and is limited to the net difference between the calculated amounts to be received and paid, if any. Such differences, which represent the fair value of the derivative instruments, are reflected on the Company’s balance sheet as derivative assets and derivative liabilities. The Company seeks to manage the credit risk of its financial contracts through credit approvals, limits and monitoring procedures, and does not expect any counterparties to fail to meet their obligations.

The Company currently holds derivative instruments that contain credit-risk related features that are in a net liability position, which may require that collateral be assigned to dealer banks. At March 31, 2015, the Company had posted cash collateral totaling $3.3 million with dealer banks related to derivative instruments in a net liability position.

The Company does not offset fair value amounts recognized for derivative instruments. The Company does not net the amount recognized for the right to reclaim cash collateral against the obligation to return cash collateral arising from derivative instruments executed with the same counterparty under a master netting arrangement.

Risk Management Policies — Derivative Instruments

The Company evaluates the effectiveness of entering into any derivative instrument agreement by measuring the cost of such an agreement in relation to the reduction in net income volatility within an assumed range of interest rates.

Interest Rate Risk Management — Cash Flow Hedging Instruments

The Company uses variable rate debt as a source of funds for use in the Company’s lending and investment activities and other general business purposes. These debt obligations expose the Company to variability in interest payments due to changes in interest rates.

If interest rates increase, interest expense increases. Conversely, if interest rates decrease, interest expense decreases. Management believes it is prudent to limit the variability of a portion of its interest payments and, therefore, generally hedges a portion of its variable-rate interest payments.

Information pertaining to outstanding interest rate caps and swap agreements used to hedge variable rate debt is as follows.


March 31, 2015
Notional Amount		Inception Date	Termination Date	Index	Receive Rate		Pay Rate		Strike Rate		Unrealized Gain (Loss)			Fair Value			Balance Sheet Location
(Dollars in thousands)
Interest rate swaps:
$	5,000	July 2013	July 2033	3 Mo. LIBOR	0.25	%	3.38	%	n/a		(872		)	(872		)	Other Liabilities
5,000		July 2013	July 2028	3 Mo. LIBOR	0.25	%	3.23	%	n/a		(650		)	(650		)	Other Liabilities
5,000		July 2013	July 2023	3 Mo. LIBOR	0.25	%	2.77	%	n/a		(351		)	(351		)	Other Liabilities
Interest rate caps:
6,000		October 2014	September 2019	3 Mo. LIBOR	n/a		n/a		2.50	%	(108		)	68			Other Assets
10,000		March 2015	February 2020	3 Mo. LIBOR	n/a		n/a		2.50	%	(72		)	144			Other Assets
$	31,000										$	(2,053	)	$	(1,661	)

June 30, 2014
Notional Amount		Inception Date	Termination Date	Index	Receive Rate		Pay Rate		Strike Rate		Unrealized Loss			Fair Value			Balance Sheet Location
(Dollars in thousands)
Interest rate swaps:
$	10,000	February 2010	February 2015	3 Mo. LIBOR	2.12	%	4.69	%	n/a		$	(99	)	$	(165	)	Other Liabilities
5,000		July 2013	July 2033	3 Mo. LIBOR	0.23	%	3.38	%	n/a		$	(216	)	$	(216	)	Other Liabilities
5,000		July 2013	July 2028	3 Mo. LIBOR	0.23	%	3.23	%	n/a		$	(200	)	$	(200	)	Other Liabilities
5,000		July 2013	July 2023	3 Mo. LIBOR	0.23	%	2.77	%	n/a		$	(133	)	$	(133	)	Other Liabilities
Interest rate caps:
6,000		September 2009	September 2014	3 Mo. LIBOR	n/a		n/a		2.51	%	(16		)	—			Other Assets
$	31,000										$	(664	)	$	(714	)

During the three and nine months ended March 31, 2015 and 2014, no interest rate cap or swap agreements were terminated prior to maturity. Changes in the fair value of interest rate caps and swaps designated as hedging instruments of the variability of cash flows associated with variable rate debt are reported in other comprehensive income. These amounts subsequently are reclassified into interest expense as a yield adjustment in the same period in which the related interest on the debt affects earnings. Risk management results for the three and nine months ended March 31, 2015 and 2014 related to the balance sheet hedging of variable rate debt indicates that the hedges were effective.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Topic 815
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-Publisher FASB
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624181-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Other Comprehensive Income

9 Months Ended

Mar. 31, 2015

Other Comprehensive Income

Other Comprehensive Income

8. Other Comprehensive Income

The components of other comprehensive income (loss) follow.

	Three Months Ended March 31,
	2015									2014
	Pre-tax			Tax Expense			After-tax			Pre-tax			Tax Expense			After-tax
	Amount			(Benefit)			Amount			Amount			(Benefit)			Amount
	(Dollars in thousands)
Change in net unrealized gain or loss on available-for-sale securities	$	571		$	194		$	377		$	579		$	196		$	383
Reclassification adjustment for net gains included in net income	—			—			—			—			—			—
Total available-for-sale securities	571			194			377			579			196			383
Change in accumulated loss on effective cash flow hedges	(566		)	(193		)	(373		)	(528		)	(178		)	(350		)
Reclassification adjustment for net gains included in net income	(16		)	(5		)	(11		)	(72		)	(25		)	(47		)
Total derivatives and hedging activities	(582		)	(198		)	(384		)	(600		)	(203		)	(397		)
Total other comprehensive income (loss)	$	(11	)	$	(4	)	$	(7	)	$	(21	)	$	(7	)	$	(14	)

	Nine Months Ended March 31,
	2015									2014
	Pre-tax			Tax Expense			After-tax			Pre-tax			Tax Expense			After-tax
	Amount			(Benefit)			Amount			Amount			(Benefit)			Amount
	(Dollars in thousands)
Change in net unrealized gain or loss on available-for-sale securities	$	834		$	283		$	551		$	449		$	152		$	297
Reclassification adjustment for net gains included in net income	—			—			—			—			—			—
Total available-for-sale securities	834			283			551			449			152			297
Change in accumulated loss on effective cash flow hedges	(1,341		)	(456		)	(885		)	56			20			36
Reclassification adjustment for net gains included in net income	(49		)	(18		)	(31		)	(108		)	(37		)	(71		)
Total derivatives and hedging activities	(1,390		)	(474		)	(916		)	(52		)	(17		)	(35		)
Total other comprehensive income (loss)	$	(556	)	$	(191	)	$	(365	)	$	397		$	135		$	262

Accumulated other comprehensive loss is comprised of the following.

	March 31, 2015			June 30, 2014
	(Dollars in thousands)
Unrealized loss on available-for-sale securities	$	(444	)	$	(1,278	)
Tax effect	151			434
Net-of-tax amount	(293		)	(844		)
Unrealized loss on cash flow hedges	(2,053		)	(664		)
Tax effect	698			225
Net-of-tax amount	(1,355		)	(439		)
Accumulated other comprehensive loss	$	(1,648	)	$	(1,283	)

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Subparagraph (SX 210.3-04)
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-Publisher FASB
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-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Commitments and Contingencies

9 Months Ended

Mar. 31, 2015

Commitments and Contingencies

Commitments and Contingencies

9. Commitments and Contingencies

Commitments

The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments include commitments to extend credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated balance sheets. The contract amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments.

The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments.

Financial instruments with contract amounts which represent credit risk are as follows:

	March 31, 2015		June 30, 2014
	(Dollars in thousands)
Commitments to originate loans	$	29,089	$	14,282
Unused lines of credit	29,839		34,657
Standby letters of credit	116		166

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the counter party. Collateral held varies but may include accounts receivable, inventory, property, plant and equipment, and income-producing commercial properties. The Company has recorded an allowance for possible losses on commitments and unfunded loans totaling $30 thousand recorded in other liabilities at both March 31, 2015 and June 30, 2014.

Contingencies

The Company and its subsidiary are parties to litigation and claims arising in the normal course of business. Management believes that the liabilities, if any, arising from such litigation and claims will not be material to the Company’s consolidated financial position or results of operations.

Discontinued Operations

9 Months Ended

Mar. 31, 2015

Discontinued Operations

Discontinued Operations

10. Discontinued Operations

The Company concluded all investment brokerage activities in the second quarter of Fiscal 2014. Accordingly, operations associated with these activities have been classified as discontinued operations in the accompanying consolidated statements of income. The following summarizes the operations of the Company’s investment brokerage division for the three and nine months ended March 31, 2015 and 2014.

	Three Months Ended March 31,				Nine Months Ended March 31,
	2015		2014		2015		2014
	(Dollars in thousands)
Noninterest income:
Investment commissions	$	—	$	—	$	—	$	971
Other noninterest income	—		—		—		—
Total noninterest income	—		—		—		971
Noninterest expense:
Salaries and employee benefits	—		—		—		793
Occupancy and equipment expense	—		—		—		60
Data processing fees	—		—		—		82
Marketing expense	—		—		—		8
Other noninterest expense	—		—		—		40
Total noninterest expense	—		—		—		983
(Loss) income before tax	—		—		—		(12		)
Income tax (benefit) expense	—		—		—		(4		)
Net (loss) income	$	—	$	—	$	—	$	(8	)

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

+ Details

Securities Available-for-Sale (Tables)

9 Months Ended

Mar. 31, 2015

Securities Available-for-Sale

Summary of the amortized cost, gross unrealized holding gains and losses, and fair value of securities available for sale

	March 31, 2015
	Amortized		Gross Unrealized		Gross Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in thousands)
U.S. Government agency securities	$	48,246	$	38	$	(1	)	$	48,283
Agency mortgage-backed securities	57,721		26		(507		)	57,240
	$	105,967	$	64	$	(508	)	$	105,523

	June 30, 2014
	Amortized		Gross Unrealized		Gross Unrealized			Fair
	Cost		Gains		Losses			Value
	(Dollars in thousands)
U.S. Government agency securities	$	48,415	$	31	$	(28	)	$	48,418
Agency mortgage-backed securities	66,744		3		(1,284		)	65,463
	$	115,159	$	34	$	(1,312	)	$	113,881

Summary of gross unrealized losses and fair values aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

	March 31, 2015
	Less than 12 Months					More than 12 Months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
	(Dollars in thousands)
U.S. Government agency securities	$	6,058	$	(1	)	$	—	$	—		$	6,058	$	(1	)
Agency mortgage-backed securities	2,085		(21		)	52,938		(486		)	55,023		(507		)
	$	8,143	$	(22	)	$	52,938	$	(486	)	$	61,081	$	(508	)

	June 30, 2014
	Less than 12 Months					More than 12 Months					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses
	(Dollars in thousands)
U.S. Government agency securities	$	24,141	$	(28	)	$	—	$	—		$	24,141	$	(28	)
Agency mortgage-backed securities	—		—			62,734		(1,284		)	62,734		(1,284		)
	$	24,141	$	(28	)	$	62,734	$	(1,284	)	$	86,875	$	(1,312	)

Schedule of amortized cost and fair values of available-for-sale debt securities by contractual maturity

	Amortized		Fair
	Cost		Value
	(Dollars in thousands)
Due within one year	$	24,028	$	24,045
Due after one year through five years	24,218		24,237
Due after five years through ten years	28,263		28,188
Due after ten years	29,458		29,053
	$	105,967	$	105,523

Loans, Allowance for Loan Losses and Credit Quality (Tables)

9 Months Ended

Mar. 31, 2015

Loans, Allowance for Loan Losses and Credit Quality

Schedule of composition of the Company's loan portfolio

	March 31, 2015						June 30, 2014
	Originated		Purchased		Total		Originated		Purchased		Total
	(Dollars in thousands)
Residential real estate	$	110,314	$	2,143	$	112,457	$	116,972	$	3,687	$	120,659
Home equity	24,321		—		24,321		27,975		—		27,975
Commercial real estate	134,483		193,284		327,767		116,617		199,481		316,098
Commercial business	106,015		256		106,271		41,518		282		41,800
Consumer	8,377		—		8,377		9,884		—		9,884
Total loans	$	383,510	$	195,683	$	579,193	$	312,966	$	203,450	$	516,416

Summary of past due and non-accrual loans

	March 31, 2015
					Past Due		Past Due
					90 Days or		90 Days or		Total						Non-
	30-59		60-89		More-Still		More-		Past		Total		Total		Accrual
	Days		Days		Accruing		Nonaccrual		Due		Current		Loans		Loans
	(Dollars in thousands)
Originated portfolio:
Residential real estate	$	370	$	394	$	—	$	1,140	$	1,904	$	108,410	$	110,314	$	3,163
Home equity	—		—		—		11		11		24,310		24,321		11
Commercial real estate	435		197		—		904		1,536		132,947		134,483		1,201
Commercial business	2		—		—		—		2		106,013		106,015		—
Consumer	194		86		—		63		343		8,034		8,377		225
Total originated portfolio	1,001		677		—		2,118		3,796		379,714		383,510		4,600
Purchased portfolio:
Residential real estate	—		—		—		—		—		2,143		2,143		—
Commercial business	—		—		—		—		—		256		256		—
Commercial real estate	5,868		—		—		5,204		11,072		182,212		193,284		5,850
Total purchased portfolio	5,868		—		—		5,204		11,072		184,611		195,683		5,850
Total loans	$	6,869	$	677	$	—	$	7,322	$	14,868	$	564,325	$	579,193	$	10,450

	June 30, 2014
					Past Due		Past Due
					90 Days or		90 Days or		Total						Non-
	30-59		60-89		More-Still		More-		Past		Total		Total		Accrual
	Days		Days		Accruing		Nonaccrual		Due		Current		Loans		Loans
	(Dollars in thousands)
Originated portfolio:
Residential real estate	$	222	$	728	$	—	$	1,573	$	2,523	$	114,449	$	116,972	$	1,743
Home equity	109		7		—		120		236		27,739		27,975		160
Commercial real estate	126		136		—		629		891		115,726		116,617		1,162
Commercial business	—		—		—		—		—		41,518		41,518		5
Consumer	188		24		—		49		261		9,623		9,884		139
Total originated portfolio	645		895		—		2,371		3,911		309,055		312,966		3,209
Purchased portfolio:
Residential real estate	—		—		—		—		—		3,687		3,687		—
Commercial business	—		—		—		—		—		282		282		—
Commercial real estate	—		—		—		1,995		1,995		197,486		199,481		4,116
Total purchased portfolio	—		—		—		1,995		1,995		201,455		203,450		4,116
Total loans	$	645	$	895	$	—	$	4,366	$	5,906	$	510,510	$	516,416	$	7,325

Schedule of allowance for loan losses by portfolio segment

	Three Months Ended March 31, 2015
	Residential			Commercial		Commercial
	Real Estate			Real Estate		Business			Consumer			Purchased			Unallocated		Total
	(Dollars in thousands)
Beginning balance	$	796		$	288	$	54		$	59		$	413		$	54	$	1,664
Provision	(38		)	187		(45		)	(13		)	(87		)	40		44
Recoveries	1			—		35			4			—			—		40
Charge-offs	—			—		(1		)	(6		)	—			—		(7		)
Ending balance	$	759		$	475	$	43		$	44		$	326		$	94	$	1,741

	Three Months Ended March 31, 2014
	Residential			Commercial		Commercial
	Real Estate			Real Estate		Business			Consumer			Purchased			Unallocated			Total
	(Dollars in thousands)
Beginning balance	$	649		$	321	$	52		$	112		$	207		$	9		$	1,350
Provision	151			—		41			25			(28		)	(9		)	180
Recoveries	1			1		1			5			—			—			8
Charge-offs	(123		)	—		(43		)	(27		)	—			—			(193		)
Ending balance	$	678		$	322	$	51		$	115		$	179		$	—		$	1,345

	Nine Months Ended March 31, 2015
	Residential			Commercial		Commercial
	Real Estate			Real Estate		Business			Consumer			Purchased		Unallocated		Total
	(Dollars in thousands)
Beginning balance	$	580		$	358	$	48		$	79		$	267	$	35	$	1,367
Provision	322			116		(39		)	(40		)	59		59		477
Recoveries	17			1		35			17			—		—		70
Charge-offs	(160		)	—		(1		)	(12		)	—		—		(173		)
Ending balance	$	759		$	475	$	43		$	44		$	326	$	94	$	1,741

	Nine Months Ended March 31, 2014
	Residential			Commercial		Commercial
	Real Estate			Real Estate		Business			Consumer			Purchased		Unallocated			Total
	(Dollars in thousands)
Beginning balance	$	594		$	173	$	70		$	189		$	76	$	41		$	1,143
Provision	233			148		17			(53		)	103		(41		)	407
Recoveries	7			1		7			36			—		—			51
Charge-offs	(156		)	—		(43		)	(57		)	—		—			(256		)
Ending balance	$	678		$	322	$	51		$	115		$	179	$	—		$	1,345

Schedule of allowance for loan losses by portfolio segment and impairment methodology

	March 31, 2015
	Residential			Commercial				Commercial
	Real Estate			Real Estate				Business			Consumer			Purchased		Unallocated				Total
	(Dollars in thousands)
Allowance for loan losses:
Individually evaluated	$		412	$		17		$	—		2			$	287	$		—		$		718
Collectively evaluated	347			458				43			42			—		94				984
ASC 310-30	—			—				—			—			39		—				39
Total	$		759	$		475		$	43		$		44	$	326	$		94		$		1,741

Loans:
Individually evaluated	$		3,995	$		2,596		$	—		$		277	$	7,838	$		—		$		14,706
Collectively evaluated	130,640			131,887				106,015			8,100			—		—				376,642
ASC 310-30	—			—				—			—			187,845		—				187,845
Total	$		134,635	$		134,483		$	106,015		$		8,377	$	195,683	$		—		$		579,193

	June 30, 2014
	Residential				Commercial			Commercial
	Real Estate				Real Estate			Business		Consumer				Purchased		Unallocated			Total
	(Dollars in thousands)
Allowance for loan losses:
Individually evaluated	$	190			$		84	$	—	$		6		$	166	$	—		$		446
Collectively evaluated	390				274			48		73				—		35			820
ASC 310-30	—				—			—		—				101		—			101
Total	$	580			$		358	$	48	$		79		$	267	$	35		$		1,367

Loans:
Individually evaluated	$	2,314			$		2,549	$	—	$		240		$	4,747	$	—		$		9,850
Collectively evaluated	142,633				114,068			41,518		9,644				—		—			307,863
ASC 310-30	—				—			—		—				198,703		—			198,703
Total	$	144,947			$		116,617	$	41,518	$		9,884		$	203,450	$	—		$		516,416

Schedule of Impaired Loans

	March 31, 2015						June 30, 2014
			Unpaid						Unpaid
	Recorded		Principal		Related		Recorded		Principal		Related
	Investment		Balance		Allowance		Investment		Balance		Allowance
	(Dollars in thousands)
Impaired loans without a valuation allowance:
Originated:
Residential real estate	$	2,134	$	2,241	$	—	$	1,005	$	1,081	$	—
Consumer	247		259		—		200		205		—
Commercial real estate	1,512		1,517		—		1,368		1,371		—
Commercial business	—				—		—		—		—
Purchased:
Commercial real estate	6,630		8,703		—		2,857		4,148		—
Total	10,523		12,720		—		5,430		6,805		—

Impaired loans with a valuation allowance:
Originated:
Residential real estate	1,860		1,795		412		1,309		1,278		190
Consumer	30		30		2		40		47		6
Commercial real estate	1,085		1,075		17		1,181		1,187		84
Commercial business	—		—		—		—		—		—
Purchased:
Commercial real estate	1,208		1,648		286		1,890		2,215		166
Total	4,183		4,548		717		4,420		4,727		446
Total impaired loans	$	14,706	$	17,268	$	717	$	9,850	$	11,532	$	446

Schedule of interest income recognized on impaired loans

	Three Months Ended March 31,
	2015				2014
	Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income
	Investment		Recognized		Investment		Recognized
	(Dollars in thousands)
Impaired loans without a valuation allowance:
Originated:
Residential real estate	$	1,754	$	27	$	1,032	$	16
Consumer	320		4		146		3
Commercial real estate	1,534		7		832		13
Commercial business	—		—		65		2
Purchased:
Commercial real estate	7,706		37		3,532		23
Total	11,314		75		5,607		57

Impaired loans with a valuation allowance:
Originated:
Residential real estate	1,957		31		1,262		13
Consumer	121		1		77		—
Commercial real estate	1,047		15		1,117		14
Commercial business	—		—		22		—
Purchased:
Commercial real estate	1,271		14		1,925		10
Total	4,396		61		4,403		37
Total impaired loans	$	15,710	$	136	$	10,010	$	94

	Nine Months Ended March 31,
	2015				2014
	Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income
	Investment		Recognized		Investment		Recognized
	(Dollars in thousands)
Impaired loans without a valuation allowance:
Originated:
Residential real estate	$	1,570	$	72	$	1,047	$	30
Consumer	224		75		115		5
Commercial real estate	1,440		44		635		27
Commercial business	—		1		64		8
Purchased:
Commercial real estate	4,743		197		2,584		71
Total	7,977		389		4,445		141

Impaired loans with a valuation allowance:
Originated:
Residential real estate	1,584		66		1,327		50
Consumer	35		17		84		3
Commercial real estate	1,133		46		1,119		59
Commercial business	—		—		38		1
Purchased:
Commercial real estate	1,549		38		1,062		58
Total	4,301		167		3,630		171
Total impaired loans	$	12,278	$	556	$	8,075	$	312

Schedule of the Company's loans by risk rating

	March 31, 2015
	Originated Portfolio
	Commercial		Commercial				Purchased
	Real Estate		Business		Residential(1)		Portfolio		Total
	(Dollars in thousands)
Loans rated 1- 6	$	128,268	$	105,852	$	9,676	$	183,897	$	427,693
Loans rated 7	4,412		34		963		5,255		10,664
Loans rated 8	1,803		129		479		6,531		8,942
Loans rated 9	—		—		—		—		—
Loans rated 10	—		—		—		—		—
	$	134,483	$	106,015	$	11,118	$	195,683	$	447,299

	June 30, 2014
	Originated Portfolio
	Commercial		Commercial				Purchased
	Real Estate		Business		Residential(1)		Portfolio		Total
	(Dollars in thousands)
Loans rated 1- 6	$	110,044	$	41,271	$	11,941	$	189,986	$	353,242
Loans rated 7	4,880		46		940		8,619		14,485
Loans rated 8	1,693		201		670		4,845		7,409
Loans rated 9	—		—		—		—		—
Loans rated 10	—		—		—		—		—
	$	116,617	$	41,518	$	13,551	$	203,450	$	375,136

(1)

Certain of the Company’s loans made for commercial purposes, but secured by residential collateral, are rated under the Company’s risk-rating system.

Schedule of company's post modification balance of TDRs by type of modification

	Three Months Ended March 31,						Nine Months Ended March 31,
	2015			2014			2015			2014
	Number of	Recorded		Number of	Recorded		Number of	Recorded		Number of	Recorded
	Contracts	Investment		Contracts	Investment		Contracts	Investment		Contracts	Investment
	(Dollars in thousands)
Extended maturity	—	$	—	1	$	305	3	$	590	5	$	2,082
Adjusted interest rate	4	256		1	36		8	451		2	118
Rate and maturity	2	11		2	65		5	212		2	65
Principal deferment	—	—		—	—		1	453		2	341
Court ordered concession	—	—		1	41		4	84		1	41
Other	—	—		2	171		—	—		2	171
	6	$	267	7	$	618	21	$	1,790	14	$	2,818

Schedule of loans modified in a TDR and the change in the recorded investment subsequent to the modifications

	Three Months Ended March 31,
	2015					2014
		Recorded		Recorded			Recorded		Recorded
	Number of	Investment		Investment		Number of	Investment		Investment
	Contracts	Pre-Modification		Post-Modification		Contracts	Pre-Modification		Post-Modification
	(Dollars in thousands)
Originated portfolio:
Residential real estate	2	$	231	$	231	4	$	164	$	164
Home equity	—	—		—		1	8		8
Commercial real estate	—	—		—		1	141		141
Commercial business	—	—		—		—	—		—
Consumer	4	36		36		—	—		—
Total originated portfolio	6	267		267		6	313		313

Purchased portfolio:
Residential real estate	—	—		—		—	—		—
Commercial real estate	—	—		—		1	305		305
Total purchased portfolio	—	—		—		1	305		305
Total	6	$	267	$	267	7	$	618	$	618

	Nine Months Ended March 31,
	2015					2014
		Recorded		Recorded			Recorded		Recorded
	Number of	Investment		Investment		Number of	Investment		Investment
	Contracts	Pre-Modification		Post-Modification		Contracts	Pre-Modification		Post-Modification
	(Dollars in thousands)
Originated portfolio:
Residential real estate	13	$	1,164	$	1,164	4	$	164	$	164
Home equity	—	—		—		2	22		22
Commercial real estate	1	200		200		2	464		464
Commercial business	—	—		—		1	18		18
Consumer	6	70		70		2	121		121
Total originated portfolio	20	1,434		1,434		11	789		789

Purchased portfolio:
Residential real estate	—	—		—		—	—		—
Commercial real estate	1	356		356		3	1,990		2,029
Total purchased portfolio	1	356		356		3	1,990		2,029
Total	21	$	1,790	$	1,790	14	$	2,779	$	2,818

Summary of loans acquired by the Company accounted for under ASC 310-30

	Three Months Ended March 31, 2015			Nine Months Ended March 31, 2015
	(Dollars in thousands)
Contractually required payments receivable	$	8,712		$	96,482
Nonaccretable difference	(27		)	(1,956		)
Cash flows expected to be collected	8,685			94,526
Accretable yield	(3,622		)	(36,987		)
Fair value of loans acquired	$	5,063		$	57,539

Summary of the loans acquired by the Company are not accounted for using the income recognition model

	As of and for the Three Months Ended March 31, 2015		As of and for the Nine Months Ended March 31, 2015
	(Dollars in thousands)
Loans acquired during the period	$	—	$	357
Loans at end of period	5,503		5,503

Summary of the activity in the accretable yield for loans accounted for under ASC 310-30

	Three Months Ended March 31, 2015			Nine Months Ended March 31, 2015
	(Dollars in thousands)
Beginning balance	$	123,275		$	109,040
Acquisitions	3,622			36,987
Accretion	(4,214		)	(12,943		)
Reclassifications to accretable yield	62			72
Disposals and other changes	(8,336		)	(18,747		)
End balance	$	114,409		$	114,409

	March 31, 2015		June 30, 2014
	(Dollars in thousands)
Unpaid principal balance	$	231,557	$	239,376
Carrying amount	$	193,072	$	201,171

Earnings Per Share (EPS) (Tables)

9 Months Ended

Mar. 31, 2015

Earnings Per Share (EPS)

Schedule of number of shares outstanding for basic and diluted EPS

	Three months Ended March 31,				Nine months Ended March 31,
	2015		2014		2015		2014
	(Dollars in thousands, except share and per share data)

Net income	$	1,752	$	437	$	4,976	$	2,150

Weighted average shares used in calculation of basic EPS	9,833,033		10,432,494		10,049,983		10,435,300
Incremental shares from assumed exercise of dilutive securities	—		—		—		—
Weighted average shares used in calculation of diluted EPS	9,833,033		10,432,494		10,049,983		10,435,300

Earnings per common share:
Income from continuing operations	$	0.18	$	0.04	$	0.50	$	0.21
Income from discontinued operations	—		—		—		—
Earnings per common share	$	0.18	$	0.04	$	0.50	$	0.21

Diluted earnings per common share:
Income from continuing operations	$	0.18	$	0.04	$	0.50	$	0.21
Income from discontinued operations	—		—		—		—
Diluted earnings per common share	$	0.18	$	0.04	$	0.50	$	0.21

Schedule of average anti-dilutive options and warrants

	Three Months Ended March 31,		Nine Months Ended March 31,
	2015	2014	2015	2014
Stock options	1,039,721	1,143,329	1,059,721	1,148,777
Warrants	—	—	—	—
	1,039,721	1,143,329	1,059,721	1,148,777

Fair Value Measurements (Tables)

9 Months Ended

Mar. 31, 2015

Fair Value Measurements

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

	March 31, 2015
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Assets
Securities available-for-sale:
U.S. Government agency securities	$	48,283	$	—	$	48,283	$	—
Agency mortgage-backed securities	57,240		—		57,240		—
Other assets — interest rate caps	212		—		212		—
Liabilities
Other liabilities — interest rate swaps	$	1,873	$	—	$	1,873	$	—

	June 30, 2014
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Assets
Securities available-for-sale:
U.S. Government agency securities	$	48,418	$	—	$	48,418	$	—
Agency mortgage-backed securities	65,463		—		65,463		—
Other assets — interest rate caps	—		—		—		—
Liabilities
Other liabilities — interest rate swap	$	714	$	—	$	714	$	—

Schedule of assets measured at fair value on a nonrecurring basis

	March 31, 2015
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Collateral dependent impaired loans	$	1,131	$	—	$	—	$	1,131
Real estate owned and other repossessed collateral	3,694		—		—		3,694

	June 30, 2014
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Collateral dependent impaired loans	$	1,467	$	—	$	—	$	1,467
Real estate owned and other repossessed collateral	1,991		—		—		1,991

Schedule of estimated fair value of the Company's financial instruments

	Carrying		Fair Value Measurements at March 31, 2015
	Amount		Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial assets:
Cash and cash equivalents	$	105,073	$	105,073	$	105,073	$	—	$	—
Available-for-sale securities	105,523		105,523		—		105,523		—
Federal Home Loan Bank stock	4,102		4,102		—		4,102		—
Loans held for sale	4,439		4,439		—		4,439		—
Loans, net	577,452		583,837		—		—		583,837
Accrued interest receivable	1,215		1,215		—		1,215		—
Interest rate caps	212		212		—		212		—

Financial liabilities:
Deposits	655,177		655,816		—		655,816		—
FHLB advances	30,216		30,982		—		30,982		—
Wholesale repurchase agreements	10,077		10,198		—		10,198		—
Short-term borrowings	2,861		2,861		—		2,861		—
Capital lease obligation	1,416		1,502		—		1,502		—
Subordinated debentures	8,578		8,967		—		—		8,967
Interest rate swaps	1,873		1,873		—		1,873		—

	Carrying		Fair Value Measurements at June 30, 2014
	Amount		Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial assets:
Cash and cash equivalents	$	82,259	$	82,259	$	82,259	$	—	$	—
Available-for-sale securities	113,881		113,881		—		113,881		—
Federal Home Loan Bank stock	4,102		4,102		—		4,102		—
Loans held for sale	11,945		11,945		—		11,945		—
Loans, net	515,049		522,154		—		—		522,154
Accrued interest receivable	1,216		1,216		—		1,216		—
Interest rate caps	—		—		—		—		—

Financial liabilities:
Deposits	574,329		574,868		—		574,868		—
FHLB advances	42,824		43,843		—		43,843		—
Wholesale repurchase agreements	10,199		10,484		—		10,484		—
Short-term borrowings	2,984		2,984		—		2,984		—
Capital lease obligation	1,558		1,701		—		1,701		—
Subordinated debentures	8,440		7,858		—		—		7,858
Interest rate swaps	714		714		—		714		—

Derivatives and Hedging Activities (Tables)

9 Months Ended

Mar. 31, 2015

Derivatives and Hedging Activities

Schedule of information pertaining to outstanding interest rate caps and swap agreements used to hedge variable rate debt


	March 31, 2015
	Notional Amount		Inception Date	Termination Date	Index	Receive Rate		Pay Rate		Strike Rate		Unrealized Gain (Loss)			Fair Value			Balance Sheet Location
	(Dollars in thousands)
	Interest rate swaps:
$		5,000	July 2013	July 2033	3 Mo. LIBOR	0.25	%	3.38	%	n/a		(872		)	(872		)	Other Liabilities
	5,000		July 2013	July 2028	3 Mo. LIBOR	0.25	%	3.23	%	n/a		(650		)	(650		)	Other Liabilities
	5,000		July 2013	July 2023	3 Mo. LIBOR	0.25	%	2.77	%	n/a		(351		)	(351		)	Other Liabilities
	Interest rate caps:
	6,000		October 2014	September 2019	3 Mo. LIBOR	n/a		n/a		2.50	%	(108		)	68			Other Assets
	10,000		March 2015	February 2020	3 Mo. LIBOR	n/a		n/a		2.50	%	(72		)	144			Other Assets
$		31,000										$	(2,053	)	$	(1,661	)

	June 30, 2014
	Notional Amount		Inception Date	Termination Date	Index	Receive Rate		Pay Rate		Strike Rate		Unrealized Loss			Fair Value			Balance Sheet Location
	(Dollars in thousands)
	Interest rate swaps:
$		10,000	February 2010	February 2015	3 Mo. LIBOR	2.12	%	4.69	%	n/a		$	(99	)	$	(165	)	Other Liabilities
	5,000		July 2013	July 2033	3 Mo. LIBOR	0.23	%	3.38	%	n/a		$	(216	)	$	(216	)	Other Liabilities
	5,000		July 2013	July 2028	3 Mo. LIBOR	0.23	%	3.23	%	n/a		$	(200	)	$	(200	)	Other Liabilities
	5,000		July 2013	July 2023	3 Mo. LIBOR	0.23	%	2.77	%	n/a		$	(133	)	$	(133	)	Other Liabilities
	Interest rate caps:
	6,000		September 2009	September 2014	3 Mo. LIBOR	n/a		n/a		2.51	%	(16		)	—			Other Assets
$		31,000										$	(664	)	$	(714	)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41641-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624163-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41678-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41638-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579245-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5579240-113959

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35706170&loc=d3e41620-113959

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Other Comprehensive Income (Tables)

9 Months Ended

Mar. 31, 2015

Other Comprehensive Income

Schedule of components of other comprehensive income (loss)

	Three Months Ended March 31,
	2015									2014
	Pre-tax			Tax Expense			After-tax			Pre-tax			Tax Expense			After-tax
	Amount			(Benefit)			Amount			Amount			(Benefit)			Amount
	(Dollars in thousands)
Change in net unrealized gain or loss on available-for-sale securities	$	571		$	194		$	377		$	579		$	196		$	383
Reclassification adjustment for net gains included in net income	—			—			—			—			—			—
Total available-for-sale securities	571			194			377			579			196			383
Change in accumulated loss on effective cash flow hedges	(566		)	(193		)	(373		)	(528		)	(178		)	(350		)
Reclassification adjustment for net gains included in net income	(16		)	(5		)	(11		)	(72		)	(25		)	(47		)
Total derivatives and hedging activities	(582		)	(198		)	(384		)	(600		)	(203		)	(397		)
Total other comprehensive income (loss)	$	(11	)	$	(4	)	$	(7	)	$	(21	)	$	(7	)	$	(14	)

	Nine Months Ended March 31,
	2015									2014
	Pre-tax			Tax Expense			After-tax			Pre-tax			Tax Expense			After-tax
	Amount			(Benefit)			Amount			Amount			(Benefit)			Amount
	(Dollars in thousands)
Change in net unrealized gain or loss on available-for-sale securities	$	834		$	283		$	551		$	449		$	152		$	297
Reclassification adjustment for net gains included in net income	—			—			—			—			—			—
Total available-for-sale securities	834			283			551			449			152			297
Change in accumulated loss on effective cash flow hedges	(1,341		)	(456		)	(885		)	56			20			36
Reclassification adjustment for net gains included in net income	(49		)	(18		)	(31		)	(108		)	(37		)	(71		)
Total derivatives and hedging activities	(1,390		)	(474		)	(916		)	(52		)	(17		)	(35		)
Total other comprehensive income (loss)	$	(556	)	$	(191	)	$	(365	)	$	397		$	135		$	262

Schedule of components of accumulated other comprehensive loss

	March 31, 2015			June 30, 2014
	(Dollars in thousands)
Unrealized loss on available-for-sale securities	$	(444	)	$	(1,278	)
Tax effect	151			434
Net-of-tax amount	(293		)	(844		)
Unrealized loss on cash flow hedges	(2,053		)	(664		)
Tax effect	698			225
Net-of-tax amount	(1,355		)	(439		)
Accumulated other comprehensive loss	$	(1,648	)	$	(1,283	)

Commitments and Contingencies (Tables)

9 Months Ended

Mar. 31, 2015

Commitments and Contingencies

Schedule of Financial Instruments with contract amounts that represent credit risk

	March 31, 2015		June 30, 2014
	(Dollars in thousands)
Commitments to originate loans	$	29,089	$	14,282
Unused lines of credit	29,839		34,657
Standby letters of credit	116		166

Discontinued Operations (Tables)

9 Months Ended

Mar. 31, 2015

Discontinued Operations

Summary of operations of the Company's investment brokerage division

	Three Months Ended March 31,				Nine Months Ended March 31,
	2015		2014		2015		2014
	(Dollars in thousands)
Noninterest income:
Investment commissions	$	—	$	—	$	—	$	971
Other noninterest income	—		—		—		—
Total noninterest income	—		—		—		971
Noninterest expense:
Salaries and employee benefits	—		—		—		793
Occupancy and equipment expense	—		—		—		60
Data processing fees	—		—		—		82
Marketing expense	—		—		—		8
Other noninterest expense	—		—		—		40
Total noninterest expense	—		—		—		983
(Loss) income before tax	—		—		—		(12		)
Income tax (benefit) expense	—		—		—		(4		)
Net (loss) income	$	—	$	—	$	—	$	(8	)

Securities Available-for-Sale (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014
Available-for-sale securities
Available-for-sale securities, Amortized Cost	$ 105,967		$ 105,967		$ 115,159
Gross Unrealized Gains	64		64		34
Gross Unrealized Losses	(508)		(508)		(1,312)
Available-for-sale securities, Fair Value	$ 105,523		$ 105,523		113,881
Number of securities sold	0	0	0	0
U.S. Government agency securities
Available-for-sale securities
Available-for-sale securities, Amortized Cost	$ 48,246		$ 48,246		48,415
Gross Unrealized Gains	38		38		31
Gross Unrealized Losses	(1)		(1)		(28)
Available-for-sale securities, Fair Value	48,283		48,283		48,418
Agency mortgage-backed securities
Available-for-sale securities
Available-for-sale securities, Amortized Cost	57,721		57,721		66,744
Gross Unrealized Gains	26		26		3
Gross Unrealized Losses	(507)		(507)		(1,284)
Available-for-sale securities, Fair Value	$ 57,240		$ 57,240		$ 65,463

Securities Available-for-Sale (Details 2) $ in Millions	Mar. 31, 2015 USD ($)
Securities Available-for-Sale
Investment securities at fair value pledged as collateral for borrowings	$ 34.2

Securities Available-for-Sale (Details 3) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
Securities Available-for-Sale (Details 3) $ in Thousands	Mar. 31, 2015 USD ($) security	Mar. 31, 2014 USD ($)	Mar. 31, 2015 USD ($) security	Mar. 31, 2014 USD ($)	Jun. 30, 2014 USD ($)
Available-for-sale securities
Fair Value, Less than 12 Months	$ 8,143		$ 8,143		$ 24,141
Unrealized Losses, Less than 12 Months			(22)		(28)
Fair Value, More than 12 Months	52,938		52,938		62,734
Unrealized Losses, More than 12 Months			(486)		(1,284)
Fair Value, Total Fair Value	61,081		61,081		86,875
Unrealized Losses, Total Unrealized Losses			(508)		(1,312)
Other-than-temporary impairment losses on securities	$ 0	$ 0	$ 0	$ 0
Number of securities in a continuous loss position for greater than twelve months \| security	22		22
U.S. Government agency securities
Available-for-sale securities
Fair Value, Less than 12 Months	$ 6,058		$ 6,058		24,141
Unrealized Losses, Less than 12 Months			(1)		(28)
Fair Value, Total Fair Value	6,058		6,058		24,141
Unrealized Losses, Total Unrealized Losses			(1)		(28)
Agency mortgage-backed securities
Available-for-sale securities
Fair Value, Less than 12 Months	2,085		2,085
Unrealized Losses, Less than 12 Months			(21)
Fair Value, More than 12 Months	52,938		52,938		62,734
Unrealized Losses, More than 12 Months			(486)		(1,284)
Fair Value, Total Fair Value	$ 55,023		55,023		62,734
Unrealized Losses, Total Unrealized Losses			$ (507)		$ (1,284)

Securities Available-for-Sale (Details 4) - USD ($) $ in Thousands	Mar. 31, 2015	Jun. 30, 2014
Securities Available-for-Sale
Due within one year, Amortized Cost	$ 24,028
Due after one year through five years, Amortized Cost	24,218
Due after five years through ten years, Amortized Cost	28,263
Due after ten years, Amortized Cost	29,458
Available-for-sale securities, Amortized Cost	105,967	$ 115,159
Due within one year, Fair Value	24,045
Due after one year through five years, Fair Value	24,237
Due after five years through ten years, Fair Value	28,188
Due after ten years, Fair Value	29,053
Available-for-sale securities, Fair Value	$ 105,523	$ 113,881

Loans, Allowance for Loan Losses and Credit Quality (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable
Loans	$ 579,193	$ 516,416
Residential
Accounts, Notes, Loans and Financing Receivable
Loans	112,457	120,659
Home equity
Accounts, Notes, Loans and Financing Receivable
Loans	24,321	27,975
Commercial real estate.
Accounts, Notes, Loans and Financing Receivable
Loans	327,767	316,098
Commercial business
Accounts, Notes, Loans and Financing Receivable
Loans	106,271	41,800
Consumer.
Accounts, Notes, Loans and Financing Receivable
Loans	8,377	9,884
Originated
Accounts, Notes, Loans and Financing Receivable
Loans	383,510	312,966
Originated \| Residential
Accounts, Notes, Loans and Financing Receivable
Loans	110,314	116,972
Originated \| Home equity
Accounts, Notes, Loans and Financing Receivable
Loans	24,321	27,975
Originated \| Commercial real estate.
Accounts, Notes, Loans and Financing Receivable
Loans	134,483	116,617
Originated \| Commercial business
Accounts, Notes, Loans and Financing Receivable
Loans	106,015	41,518
Originated \| Consumer.
Accounts, Notes, Loans and Financing Receivable
Loans	8,377	9,884
Purchased
Accounts, Notes, Loans and Financing Receivable
Loans	195,683	203,450
Purchased \| Residential
Accounts, Notes, Loans and Financing Receivable
Loans	2,143	3,687
Purchased \| Commercial real estate.
Accounts, Notes, Loans and Financing Receivable
Loans	193,284	199,481
Purchased \| Commercial business
Accounts, Notes, Loans and Financing Receivable
Loans	$ 256	$ 282

Loans, Allowance for Loan Losses and Credit Quality (Details 2) - USD ($) $ in Thousands	Mar. 31, 2015	Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable
30-59 Days	$ 6,869	$ 645
60-89 Days	677	895
Past Due 90 Days or More-Nonaccrual	7,322	4,366
Total Past Due	14,868	5,906
Total Current	564,325	510,510
Total loans	579,193	516,416
Non-Accrual Loans	10,450	7,325
Residential
Accounts, Notes, Loans and Financing Receivable
Total loans	112,457	120,659
Home equity
Accounts, Notes, Loans and Financing Receivable
Total loans	24,321	27,975
Commercial real estate.
Accounts, Notes, Loans and Financing Receivable
Total loans	327,767	316,098
Commercial business
Accounts, Notes, Loans and Financing Receivable
Total loans	106,271	41,800
Consumer.
Accounts, Notes, Loans and Financing Receivable
Total loans	8,377	9,884
Originated
Accounts, Notes, Loans and Financing Receivable
30-59 Days	1,001	645
60-89 Days	677	895
Past Due 90 Days or More-Nonaccrual	2,118	2,371
Total Past Due	3,796	3,911
Total Current	379,714	309,055
Total loans	383,510	312,966
Non-Accrual Loans	4,600	3,209
Originated \| Residential
Accounts, Notes, Loans and Financing Receivable
30-59 Days	370	222
60-89 Days	394	728
Past Due 90 Days or More-Nonaccrual	1,140	1,573
Total Past Due	1,904	2,523
Total Current	108,410	114,449
Total loans	110,314	116,972
Non-Accrual Loans	3,163	1,743
Originated \| Home equity
Accounts, Notes, Loans and Financing Receivable
30-59 Days		109
60-89 Days		7
Past Due 90 Days or More-Nonaccrual	11	120
Total Past Due	11	236
Total Current	24,310	27,739
Total loans	24,321	27,975
Non-Accrual Loans	11	160
Originated \| Commercial real estate.
Accounts, Notes, Loans and Financing Receivable
30-59 Days	435	126
60-89 Days	197	136
Past Due 90 Days or More-Nonaccrual	904	629
Total Past Due	1,536	891
Total Current	132,947	115,726
Total loans	134,483	116,617
Non-Accrual Loans	1,201	1,162
Originated \| Commercial business
Accounts, Notes, Loans and Financing Receivable
30-59 Days	2
Total Past Due	2
Total Current	106,013	41,518
Total loans	106,015	41,518
Non-Accrual Loans		5
Originated \| Consumer.
Accounts, Notes, Loans and Financing Receivable
30-59 Days	194	188
60-89 Days	86	24
Past Due 90 Days or More-Nonaccrual	63	49
Total Past Due	343	261
Total Current	8,034	9,623
Total loans	8,377	9,884
Non-Accrual Loans	225	139
Purchased
Accounts, Notes, Loans and Financing Receivable
30-59 Days	5,868
Past Due 90 Days or More-Nonaccrual	5,204	1,995
Total Past Due	11,072	1,995
Total Current	184,611	201,455
Total loans	195,683	203,450
Non-Accrual Loans	5,850	4,116
Purchased \| Residential
Accounts, Notes, Loans and Financing Receivable
Total loans	2,143	3,687
Purchased \| Commercial real estate.
Accounts, Notes, Loans and Financing Receivable
30-59 Days	5,868
Past Due 90 Days or More-Nonaccrual	5,204	1,995
Total Past Due	11,072	1,995
Total Current	182,212	197,486
Total loans	193,284	199,481
Non-Accrual Loans	5,850	4,116
Purchased \| Commercial business
Accounts, Notes, Loans and Financing Receivable
Total Current	256	282
Total loans	256	282
Purchased \| Residential real estate.
Accounts, Notes, Loans and Financing Receivable
Total Current	2,143	3,687
Total loans	$ 2,143	$ 3,687

Loans, Allowance for Loan Losses and Credit Quality (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Financing Receivable, Allowance for Credit Losses
Beginning balance	$ 1,664	$ 1,350	$ 1,367	$ 1,143
Provision	44	180	477	407
Recoveries	40	8	70	51
Charge-offs	(7)	(193)	(173)	(256)
Ending balance	1,741	1,345	1,741	1,345
Purchased
Financing Receivable, Allowance for Credit Losses
Beginning balance	413	207	267	76
Provision	(87)	(28)	59	103
Ending balance	326	179	326	179
Residential Real Estate
Financing Receivable, Allowance for Credit Losses
Beginning balance	796	649	580	594
Provision	(38)	151	322	233
Recoveries	1	1	17	7
Charge-offs		(123)	(160)	(156)
Ending balance	759	678	759	678
Commercial Real Estate
Financing Receivable, Allowance for Credit Losses
Beginning balance	288	321	358	173
Provision	187		116	148
Recoveries		1	1	1
Ending balance	475	322	475	322
Commercial business
Financing Receivable, Allowance for Credit Losses
Beginning balance	54	52	48	70
Provision	(45)	41	(39)	17
Recoveries	35	1	35	7
Charge-offs	(1)	(43)	(1)	(43)
Ending balance	43	51	43	51
Consumer
Financing Receivable, Allowance for Credit Losses
Beginning balance	59	112	79	189
Provision	(13)	25	(40)	(53)
Recoveries	4	5	17	36
Charge-offs	(6)	(27)	(12)	(57)
Ending balance	44	115	44	115
Unallocated
Financing Receivable, Allowance for Credit Losses
Beginning balance	54	9	35	41
Provision	40	$ (9)	59	$ (41)
Ending balance	$ 94		$ 94

Loans, Allowance for Loan Losses and Credit Quality (Details 4) - USD ($) $ in Thousands	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Jun. 30, 2013
Allowance for loan losses:
Individually evaluated	$ 718		$ 446
Collectively evaluated	984		820
ASC 310-30	39		101
Total	1,741	$ 1,664	1,367	$ 1,345	$ 1,350	$ 1,143
Loans:
Individually evaluated	14,706		9,850
Collectively evaluated	376,642		307,863
ASC 310-30	187,845		198,703
Total loans	579,193		516,416
Purchased
Allowance for loan losses:
Individually evaluated	287		166
ASC 310-30	39		101
Total	326	413	267	179	207	76
Loans:
Individually evaluated	7,838		4,747
ASC 310-30	187,845		198,703
Total loans	195,683		203,450
Residential Real Estate
Allowance for loan losses:
Individually evaluated	412		190
Collectively evaluated	347		390
Total	759	796	580	678	649	594
Loans:
Individually evaluated	3,995		2,314
Collectively evaluated	130,640		142,633
Total loans	134,635		144,947
Commercial Real Estate
Allowance for loan losses:
Individually evaluated	17		84
Collectively evaluated	458		274
Total	475	288	358	322	321	173
Loans:
Individually evaluated	2,596		2,549
Collectively evaluated	131,887		114,068
Total loans	134,483		116,617
Commercial business
Allowance for loan losses:
Collectively evaluated	43		48
Total	43	54	48	51	52	70
Loans:
Collectively evaluated	106,015		41,518
Total loans	106,015		41,518
Consumer
Allowance for loan losses:
Individually evaluated	2		6
Collectively evaluated	42		73
Total	44	59	79	$ 115	112	189
Loans:
Individually evaluated	277		240
Collectively evaluated	8,100		9,644
Total loans	8,377		9,884
Unallocated
Allowance for loan losses:
Collectively evaluated	94		35
Total	$ 94	$ 54	$ 35		$ 9	$ 41

Loans, Allowance for Loan Losses and Credit Quality (Details 5) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014	Jun. 30, 2014
Financing Receivable, Impaired
Recorded Investment, without a valuation allowance	$ 10,523		$ 10,523		$ 5,430
Unpaid Principal Balance, without a valuation allowance	12,720		12,720		6,805
Average Recorded Investment, without a valuation allowance	11,314	$ 5,607	7,977	$ 4,445
Interest Income Recognized, without a valuation allowance	75	57	389	141
Recorded Investment, with a valuation allowance	4,183		4,183		4,420
Unpaid Principal Balance, with a valuation allowance	4,548		4,548		4,727
Related Allowance	717		717		446
Average Recorded Investment, with a valuation allowance	4,396	4,403	4,301	3,630
Interest Income Recognized, with a valuation allowance	61	37	167	171
Recorded Investment	14,706		14,706		9,850
Unpaid Principal Balance	17,268		17,268		11,532
Average Recorded Investment	15,710	10,010	12,278	8,075
Interest Income Recognized	136	94	556	312
Originated \| Residential Real Estate
Financing Receivable, Impaired
Recorded Investment, without a valuation allowance	2,134		2,134		1,005
Unpaid Principal Balance, without a valuation allowance	2,241		2,241		1,081
Average Recorded Investment, without a valuation allowance	1,754	1,032	1,570	1,047
Interest Income Recognized, without a valuation allowance	27	16	72	30
Recorded Investment, with a valuation allowance	1,860		1,860		1,309
Unpaid Principal Balance, with a valuation allowance	1,795		1,795		1,278
Related Allowance	412		412		190
Average Recorded Investment, with a valuation allowance	1,957	1,262	1,584	1,327
Interest Income Recognized, with a valuation allowance	31	13	66	50
Originated \| Consumer
Financing Receivable, Impaired
Recorded Investment, without a valuation allowance	247		247		200
Unpaid Principal Balance, without a valuation allowance	259		259		205
Average Recorded Investment, without a valuation allowance	320	146	224	115
Interest Income Recognized, without a valuation allowance	4	3	75	5
Recorded Investment, with a valuation allowance	30		30		40
Unpaid Principal Balance, with a valuation allowance	30		30		47
Related Allowance	2		2		6
Average Recorded Investment, with a valuation allowance	121	77	35	84
Interest Income Recognized, with a valuation allowance	1		17	3
Originated \| Commercial Real Estate
Financing Receivable, Impaired
Recorded Investment, without a valuation allowance	1,512		1,512		1,368
Unpaid Principal Balance, without a valuation allowance	1,517		1,517		1,371
Average Recorded Investment, without a valuation allowance	1,534	832	1,440	635
Interest Income Recognized, without a valuation allowance	7	13	44	27
Recorded Investment, with a valuation allowance	1,085		1,085		1,181
Unpaid Principal Balance, with a valuation allowance	1,075		1,075		1,187
Related Allowance	17		17		84
Average Recorded Investment, with a valuation allowance	1,047	1,117	1,133	1,119
Interest Income Recognized, with a valuation allowance	15	14	46	59
Originated \| Commercial business
Financing Receivable, Impaired
Average Recorded Investment, without a valuation allowance		65		64
Interest Income Recognized, without a valuation allowance		2	1	8
Average Recorded Investment, with a valuation allowance		22		38
Interest Income Recognized, with a valuation allowance				1
Purchased
Financing Receivable, Impaired
Average Recorded Investment, with a valuation allowance			1,549	1,062
Interest Income Recognized, with a valuation allowance			38	58
Purchased \| Commercial Real Estate
Financing Receivable, Impaired
Recorded Investment, without a valuation allowance	6,630		6,630		2,857
Unpaid Principal Balance, without a valuation allowance	8,703		8,703		4,148
Average Recorded Investment, without a valuation allowance	7,706	3,532	4,743	2,584
Interest Income Recognized, without a valuation allowance	37	23	197	$ 71
Recorded Investment, with a valuation allowance	1,208		1,208		1,890
Unpaid Principal Balance, with a valuation allowance	1,648		1,648		2,215
Related Allowance	286		$ 286		$ 166
Purchased \| Commercial business
Financing Receivable, Impaired
Average Recorded Investment, with a valuation allowance	1,271	1,925
Interest Income Recognized, with a valuation allowance	$ 14	$ 10

Loans, Allowance for Loan Losses and Credit Quality (Details 6) - USD ($) $ in Thousands	Mar. 31, 2015	Jun. 30, 2014
Financing Receivable, Recorded Investment
Loan by risk rating	$ 447,299	$ 375,136
Loans rated 1- 6
Financing Receivable, Recorded Investment
Loan by risk rating	427,693	353,242
Loans rated 7
Financing Receivable, Recorded Investment
Loan by risk rating	10,664	14,485
Loans rated 8
Financing Receivable, Recorded Investment
Loan by risk rating	8,942	7,409
Originated \| Commercial real estate.
Financing Receivable, Recorded Investment
Loan by risk rating	134,483	116,617
Originated \| Commercial business
Financing Receivable, Recorded Investment
Loan by risk rating	106,015	41,518
Originated \| Residential
Financing Receivable, Recorded Investment
Loan by risk rating	11,118	13,551
Originated \| Loans rated 1- 6 \| Commercial real estate.
Financing Receivable, Recorded Investment
Loan by risk rating	128,268	110,044
Originated \| Loans rated 1- 6 \| Commercial business
Financing Receivable, Recorded Investment
Loan by risk rating	105,852	41,271
Originated \| Loans rated 1- 6 \| Residential
Financing Receivable, Recorded Investment
Loan by risk rating	9,676	11,941
Originated \| Loans rated 7 \| Commercial real estate.
Financing Receivable, Recorded Investment
Loan by risk rating	4,412	4,880
Originated \| Loans rated 7 \| Commercial business
Financing Receivable, Recorded Investment
Loan by risk rating	34	46
Originated \| Loans rated 7 \| Residential
Financing Receivable, Recorded Investment
Loan by risk rating	963	940
Originated \| Loans rated 8 \| Commercial real estate.
Financing Receivable, Recorded Investment
Loan by risk rating	1,803	1,693
Originated \| Loans rated 8 \| Commercial business
Financing Receivable, Recorded Investment
Loan by risk rating	129	201
Originated \| Loans rated 8 \| Residential
Financing Receivable, Recorded Investment
Loan by risk rating	479	670
Purchased
Financing Receivable, Recorded Investment
Loan by risk rating	195,683	203,450
Purchased \| Loans rated 1- 6
Financing Receivable, Recorded Investment
Loan by risk rating	183,897	189,986
Purchased \| Loans rated 7
Financing Receivable, Recorded Investment
Loan by risk rating	5,255	8,619
Purchased \| Loans rated 8
Financing Receivable, Recorded Investment
Loan by risk rating	$ 6,531	$ 4,845

Loans, Allowance for Loan Losses and Credit Quality (Details 7) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2015 USD ($) contract	Mar. 31, 2014 USD ($) contract	Mar. 31, 2015 USD ($) contract	Mar. 31, 2014 USD ($) contract
Financing Receivable, Modifications
Number of Contracts \| contract	6	7	21	14
Recorded Investment \| $	$ 267	$ 618	$ 1,790	$ 2,818
Extended maturity
Financing Receivable, Modifications
Number of Contracts \| contract		1	3	5
Recorded Investment \| $		$ 305	$ 590	$ 2,082
Adjusted interest rate
Financing Receivable, Modifications
Number of Contracts \| contract	4	1	8	2
Recorded Investment \| $	$ 256	$ 36	$ 451	$ 118
Rate and maturity
Financing Receivable, Modifications
Number of Contracts \| contract	2	2	5	2
Recorded Investment \| $	$ 11	$ 65	$ 212	$ 65
Principal deferment
Financing Receivable, Modifications
Number of Contracts \| contract			1	2
Recorded Investment \| $			$ 453	$ 341
Court ordered concession
Financing Receivable, Modifications
Number of Contracts \| contract		1	4	1
Recorded Investment \| $		$ 41	$ 84	$ 41
Other
Financing Receivable, Modifications
Number of Contracts \| contract		2		2
Recorded Investment \| $		$ 171		$ 171

Loans, Allowance for Loan Losses and Credit Quality (Details 8) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2015 USD ($) contract	Mar. 31, 2014 USD ($) contract	Mar. 31, 2015 USD ($) contract	Mar. 31, 2014 USD ($) contract
Financing Receivable, Modifications
Number of Contracts \| contract	6	7	21	14
Recorded Investment Pre-Modification	$ 267	$ 618	$ 1,790	$ 2,779
Recorded Investment Post-Modification	$ 267	$ 618	$ 1,790	$ 2,818
Number of Contracts - Defaulted \| contract	0		3
Recorded Investment - Defaulted			$ 82
Originated
Financing Receivable, Modifications
Number of Contracts \| contract	6	6	20	11
Recorded Investment Pre-Modification	$ 267	$ 313	$ 1,434	$ 789
Recorded Investment Post-Modification	$ 267	$ 313	$ 1,434	$ 789
Originated \| Residential
Financing Receivable, Modifications
Number of Contracts \| contract	2	4	13	4
Recorded Investment Pre-Modification	$ 231	$ 164	$ 1,164	$ 164
Recorded Investment Post-Modification	$ 231	$ 164	$ 1,164	$ 164
Originated \| Home equity
Financing Receivable, Modifications
Number of Contracts \| contract		1		2
Recorded Investment Pre-Modification		$ 8		$ 22
Recorded Investment Post-Modification		$ 8		$ 22
Originated \| Commercial real estate.
Financing Receivable, Modifications
Number of Contracts \| contract		1	1	2
Recorded Investment Pre-Modification		$ 141	$ 200	$ 464
Recorded Investment Post-Modification		$ 141	$ 200	$ 464
Originated \| Commercial business
Financing Receivable, Modifications
Number of Contracts \| contract				1
Recorded Investment Pre-Modification				$ 18
Recorded Investment Post-Modification				$ 18
Originated \| Consumer.
Financing Receivable, Modifications
Number of Contracts \| contract	4		6	2
Recorded Investment Pre-Modification	$ 36		$ 70	$ 121
Recorded Investment Post-Modification	$ 36		$ 70	$ 121
Purchased
Financing Receivable, Modifications
Number of Contracts \| contract		1	1	3
Recorded Investment Pre-Modification		$ 305	$ 356	$ 1,990
Recorded Investment Post-Modification		$ 305	$ 356	$ 2,029
Purchased \| Commercial real estate.
Financing Receivable, Modifications
Number of Contracts \| contract		1	1	3
Recorded Investment Pre-Modification		$ 305	$ 356	$ 1,990
Recorded Investment Post-Modification		$ 305	$ 356	$ 2,029

Loans, Allowance for Loan Losses and Credit Quality (Details 9) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2015	Mar. 31, 2015	Jun. 30, 2014
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period
Contractually required payments receivable	$ 8,712	$ 96,482
Nonaccretable difference	(27)	(1,956)
Cash flows expected to be collected	8,685	94,526
Accretable yield	(3,622)	(36,987)
Fair value of loans acquired	5,063	57,539
Beginning balance	123,275	109,040
Acquisitions	3,622	36,987
Accretion	(4,214)	(12,943)
Reclassifications to accretable yield	62	72
Disposals and other changes	(8,336)	(18,747)
End balance	114,409	114,409
Unpaid principal balance	231,557	231,557	$ 239,376
Carrying amount	193,072	193,072	$ 201,171
Certain of the loans that were acquired by the company are not accounted for using the income recognition model
Loans acquired during the period		357
Loans at end of period	$ 5,503	$ 5,503

Earnings Per Share (EPS) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share (EPS)
Net income	$ 1,752	$ 437	$ 4,976	$ 2,150
Weighted average shares used in calculation of basic EPS	9,833,033	10,432,494	10,049,983	10,435,300
Weighted average shares used in calculation of diluted EPS	9,833,033	10,432,494	10,049,983	10,435,300
Earnings per common share:
Income from continuing operations (in dollars per share)	$ 0.18	$ 0.04	$ 0.50	$ 0.21
Net Income (in dollars per share)	0.18	0.04	0.50	0.21
Diluted earnings per common share:
Income from continuing operations (in dollars per share)	0.18	0.04	0.50	0.21
Net income (in dollars per share)	$ 0.18	$ 0.04	$ 0.50	$ 0.21

Earnings Per Share (EPS) (Details 2) - shares	3 Months Ended		9 Months Ended
Earnings Per Share (EPS) (Details 2) - shares	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share
Anti-dilutive securities (in shares)	1,039,721	1,143,329	1,059,721	1,148,777
Stock options
Earnings Per Share
Anti-dilutive securities (in shares)	1,039,721	1,143,329	1,059,721	1,148,777

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Jun. 30, 2014
Fair Value Measurements
Transfers of assets and liabilities measured at fair value on a recurring or nonrecurring basis	$ 0
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	105,523	$ 113,881
U.S. Government agency securities
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	48,283	48,418
Agency mortgage-backed securities
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	57,240	65,463
Level 2
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	105,523	113,881
Other assets	212
Level 2 \| Interest rate swap
Fair Value Assets And Liabilities Measurements
Other liabilities	1,873	714
Recurring \| Interest rate caps
Fair Value Assets And Liabilities Measurements
Other assets	212
Recurring \| Interest rate swap
Fair Value Assets And Liabilities Measurements
Other liabilities	1,873	714
Recurring \| U.S. Government agency securities
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	48,283	48,418
Recurring \| Agency mortgage-backed securities
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	57,240	65,463
Recurring \| Level 2 \| Interest rate caps
Fair Value Assets And Liabilities Measurements
Other assets	212
Recurring \| Level 2 \| Interest rate swap
Fair Value Assets And Liabilities Measurements
Other liabilities	1,873	714
Recurring \| Level 2 \| U.S. Government agency securities
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	48,283	48,418
Recurring \| Level 2 \| Agency mortgage-backed securities
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	$ 57,240	$ 65,463

Fair Value Measurements (Details 2) - USD ($) $ in Thousands	Mar. 31, 2015	Jun. 30, 2014
Fair Value Assets And Liabilities Measured On Nonrecurring Basis
Collateral dependent impaired loans	$ 14,706	$ 9,850
Real estate owned and other repossessed collateral	3,694	1,991
Nonrecurring
Fair Value Assets And Liabilities Measured On Nonrecurring Basis
Collateral dependent impaired loans	1,131	1,467
Real estate owned and other repossessed collateral	3,694	1,991
Nonrecurring \| Level 3
Fair Value Assets And Liabilities Measured On Nonrecurring Basis
Collateral dependent impaired loans	1,131	1,467
Real estate owned and other repossessed collateral	$ 3,694	$ 1,991

Fair Value Measurements (Details 3) - USD ($) $ in Thousands	Mar. 31, 2015	Jun. 30, 2014
Financial assets:
Available-for-sale securities	$ 105,523	$ 113,881
Federal Home Loan Bank stock	4,102	4,102
Financial liabilities:
Capital lease obligation	1,416	1,558
Total
Financial assets:
Cash and cash equivalents	105,073	82,259
Available-for-sale securities	105,523	113,881
Federal Home Loan Bank stock	4,102	4,102
Loans held for sale	4,439	11,945
Loans, net	583,837	522,154
Accrued interest receivable	1,215	1,216
Interest rate caps	212
Financial liabilities:
Deposits	655,816	574,868
FHLB advances	30,982	43,843
Wholesale repurchase agreements	10,198	10,484
Short-term borrowings	2,861	2,984
Capital lease obligation	1,502	1,701
Subordinated debentures	8,967	7,858
Total \| Interest rate swap
Financial liabilities:
Interest rate swaps	1,873	714
Level 1
Financial assets:
Cash and cash equivalents	105,073	82,259
Level 2
Financial assets:
Available-for-sale securities	105,523	113,881
Federal Home Loan Bank stock	4,102	4,102
Loans held for sale	4,439	11,945
Accrued interest receivable	1,215	1,216
Interest rate caps	212
Financial liabilities:
Deposits	655,816	574,868
FHLB advances	30,982	43,843
Wholesale repurchase agreements	10,198	10,484
Short-term borrowings	2,861	2,984
Capital lease obligation	1,502	1,701
Level 2 \| Interest rate swap
Financial liabilities:
Interest rate swaps	1,873	714
Level 3
Financial assets:
Loans, net	583,837	522,154
Financial liabilities:
Subordinated debentures	8,967	7,858
Carrying Amount
Financial assets:
Cash and cash equivalents	105,073	82,259
Available-for-sale securities	105,523	113,881
Federal Home Loan Bank stock	4,102	4,102
Loans held for sale	4,439	11,945
Loans, net	577,452	515,049
Accrued interest receivable	1,215	1,216
Interest rate caps	212
Financial liabilities:
Deposits	655,177	574,329
FHLB advances	30,216	42,824
Wholesale repurchase agreements	10,077	10,199
Short-term borrowings	2,861	2,984
Capital lease obligation	1,416	1,558
Subordinated debentures	8,578	8,440
Carrying Amount \| Interest rate swap
Financial liabilities:
Interest rate swaps	$ 1,873	$ 714

Derivatives and Hedging Activities (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2015	Jun. 30, 2014
Derivatives and Hedging Activities
Cash collateral balance	$ 3,300
Derivatives and Hedging Activities
Notional amount	31,000	$ 31,000
Unrealized Loss	(2,053)	(664)
Fair Value	$ (1,661)	(714)
Interest rate swaps terminating in February 2015 \| Other liabilities
Derivatives and Hedging Activities
Notional amount		$ 10,000
Index	-	3 Mo. LIBOR
Receive Rate (as a percent)		2.12%
Pay Rate (as a percent)		4.69%
Unrealized Loss		$ (99)
Fair Value of liabilities		(165)
Interest rate swaps terminating in July 2033 \| Other liabilities
Derivatives and Hedging Activities
Notional amount	$ 5,000	$ 5,000
Index	3 Mo. LIBOR	3 Mo. LIBOR
Receive Rate (as a percent)	0.25%	0.23%
Pay Rate (as a percent)	3.38%	3.38%
Unrealized Loss	$ (872)	$ (216)
Fair Value of liabilities	(872)	(216)
Interest rate swaps terminating in July 2028 \| Other liabilities
Derivatives and Hedging Activities
Notional amount	$ 5,000	$ 5,000
Index	3 Mo. LIBOR	3 Mo. LIBOR
Receive Rate (as a percent)	0.25%	0.23%
Pay Rate (as a percent)	3.23%	3.23%
Unrealized Loss	$ (650)	$ (200)
Fair Value of liabilities	(650)	(200)
Interest rate swaps terminating in July 2023 \| Other liabilities
Derivatives and Hedging Activities
Notional amount	$ 5,000	$ 5,000
Index	3 Mo. LIBOR	3 Mo. LIBOR
Receive Rate (as a percent)	0.25%	0.23%
Pay Rate (as a percent)	2.77%	2.77%
Unrealized Loss	$ (351)	$ (133)
Fair Value of liabilities	(351)	(133)
Interest rate caps terminating in September 2019 \| Other assets
Derivatives and Hedging Activities
Notional amount	$ 6,000
Index	3 Mo. LIBOR
Strike Rate (as a percent)	2.50%
Unrealized Loss	$ (108)
Fair Value of assets	68
Interest rate caps terminating in September 2014 \| Other assets
Derivatives and Hedging Activities
Notional amount		$ 6,000
Index		3 Mo. LIBOR
Strike Rate (as a percent)		2.51%
Unrealized Loss		$ (16)
Interest rate caps terminating in February 2020 \| Other assets
Derivatives and Hedging Activities
Notional amount	$ 10,000
Index	3 Mo. LIBOR
Strike Rate (as a percent)	2.50%
Unrealized Loss	$ (72)
Fair Value of assets	$ 144

Derivatives and Hedging Activities (Details 2) - derivative	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Interest rate caps
Derivatives and Hedging Activities
Number of derivative agreements terminated prior to maturity	0	0	0	0
Interest rate swap
Derivatives and Hedging Activities
Number of derivative agreements terminated prior to maturity	0	0	0	0

Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Other Comprehensive Income
Change in net unrealized gain or loss on available-for-sale securities, Pre-tax Amount	$ 571	$ 579	$ 834	$ 449
Total available-for-sale securities, Pre-tax Amount	571	579	834	449
Change in accumulated loss on effective cash flow hedges, Pre-tax Amount	(566)	(528)	(1,341)	56
Reclassification adjustment for net gains included in net income, Pre-tax Amount	(16)	(72)	(49)	(108)
Total derivatives and hedging activities, Pre-tax Amount	(582)	(600)	(1,390)	(52)
Total other comprehensive loss, Pre-tax Amount	(11)	(21)	(556)	397
Change in net unrealized gain or loss on available-for-sale securities, Tax Expense (Benefit)	194	196	283	152
Total available-for-sale securities, Tax Expense (Benefit)	194	196	283	152
Change in accumulated loss on effective cash flow hedges, Tax Expense (Benefit)	(193)	(178)	(456)	20
Reclassification adjustment for net gains included in net income, Tax Expense (Benefit)	(5)	(25)	(18)	(37)
Total derivatives and hedging activities, Tax Expense (Benefit)	(198)	(203)	(474)	(17)
Total other comprehensive income (loss), Tax Expense (Benefit)	(4)	(7)	(191)	135
Change in net unrealized gain or loss on available-for-sale securities, After-tax Amount	377	383	551	297
Total available-for-sale securities, After-tax Amount	377	383	551	297
Change in accumulated gain or loss on effective cash flow hedges, After-tax Amount	(373)	(350)	(885)	36
Reclassification adjustment for net gains included in net income, After-tax Amount	(11)	(47)	(31)	(71)
Total derivatives and hedging activities, After-tax Amount	(384)	(397)	(916)	(35)
Total other comprehensive income (loss), After-tax Amount	$ (7)	$ (14)	$ (365)	$ 262

Other Comprehensive Income (Details 2) - USD ($) $ in Thousands	Mar. 31, 2015	Jun. 30, 2014
Accumulated other comprehensive loss components
Net-of tax amount	$ (1,648)	$ (1,283)
Unrealized loss on available-for-sale securities
Accumulated other comprehensive loss components
Before tax	(444)	(1,278)
Tax effect	151	434
Net-of tax amount	(293)	(844)
Unrealized loss on cash flow hedges
Accumulated other comprehensive loss components
Before tax	(2,053)	(664)
Tax effect	698	225
Net-of tax amount	$ (1,355)	$ (439)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Jun. 30, 2014
Commitments and contingencies
Allowance for possible losses on commitments and unfunded loans	$ 30	$ 30
Commitments to originate loans
Commitments and contingencies
Financial instruments which represent credit risk	29,089	14,282
Unused lines of credit
Commitments and contingencies
Financial instruments which represent credit risk	29,839	34,657
Standby letters of credit
Commitments and contingencies
Financial instruments which represent credit risk	$ 116	$ 166

Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Discontinued Operations (Details) - USD ($) $ in Thousands	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015	Mar. 31, 2014
Noninterest income:
Total noninterest income	$ 1,554	$ 1,308	$ 4,078	$ 3,432
Noninterest expense:
Salaries and employee benefits	4,316	3,759	13,586	12,624
Occupancy and equipment expense	1,278	1,450	3,662	4,075
Data processing fees	361	257	1,029	770
Marketing expense	54	86	203	225
Other noninterest expense	816	869	2,272	2,284
Total noninterest expense	$ 7,885	$ 7,516	$ 23,832	22,982
(Loss) income before tax				(12)
Income tax (benefit) expense				(4)
Net (loss) income				(8)
Segment, Discontinued Operations
Noninterest income:
Investment commissions				971
Total noninterest income				971
Noninterest expense:
Salaries and employee benefits				793
Occupancy and equipment expense				60
Data processing fees				82
Marketing expense				8
Other noninterest expense				40
Total noninterest expense				983
(Loss) income before tax				(12)
Income tax (benefit) expense				(4)
Net (loss) income				$ (8)