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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Jun. 30, 2015	Sep. 18, 2015	Dec. 31, 2014
Document and Entity Information
Entity Registrant Name	NORTHEAST BANCORP /ME/
Entity Central Index Key	0000811831
Document Type	10-K
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 65,212,768
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Voting common stock
Document and Entity Information
Entity Common Stock, Shares Outstanding		8,523,666
Non-voting common stock
Document and Entity Information
Entity Common Stock, Shares Outstanding		1,012,717

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Assets
Cash and due from banks	$ 2,789	$ 3,372
Short-term investments	87,061	78,887
Total cash and cash equivalents	89,850	82,259
Available-for-sale securities, at fair value	101,908	113,881
Loans held for sale	9,035	11,945
Loans	612,137	516,416
Less: Allowance for loan losses	1,926	1,367
Loans, net	610,211	515,049
Premises and equipment, net	8,253	9,135
Real estate owned and other repossessed collateral, net	1,651	1,991
Federal Home Loan Bank stock, at cost	4,102	4,102
Intangible assets, net	2,209	2,798
Bank owned life insurance	15,276	14,836
Other assets	8,335	5,935
Total assets	850,830	761,931
Deposits
Demand	60,383	50,140
Savings and interest checking	100,134	98,340
Money market	168,527	83,901
Time	345,715	341,948
Total deposits	674,759	574,329
Federal Home Loan Bank advances	30,188	42,824
Wholesale repurchase agreements	10,037	10,199
Short-term borrowings	2,349	2,984
Junior subordinated debentures issued to affiliated trusts	8,626	8,440
Capital lease obligation	1,368	1,558
Other liabilities	10,664	9,531
Total liabilities	737,991	649,865
Commitments and contingencies
Stockholders' equity
Preferred stock, $1.00 par value, 1,000,000 shares authorized; no shares issued and outstanding at June 30, 2015 and June 30, 2014
Additional paid-in capital	85,506	90,914
Retained earnings	19,033	12,294
Accumulated other comprehensive loss	(1,288)	(1,283)
Total stockholders' equity	112,839	112,066
Total liabilities and stockholders' equity	850,830	761,931
Voting common stock
Stockholders' equity
Common stock	8,575	9,260
Total stockholders' equity	8,575	9,260
Non-voting common stock
Stockholders' equity
Common stock	1,013	881
Total stockholders' equity	$ 1,013	$ 881

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 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	8,575,144	9,260,331
Common stock, outstanding	8,575,144	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	1,012,739	880,963
Common stock, outstanding	1,012,739	880,963

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Interest and dividend income:
Interest and fees on loans	$ 43,383	$ 37,009
Interest on available-for-sale securities	913	1,048
Other interest and dividend income	292	314
Total interest and dividend income	44,588	38,371
Interest expense:
Deposits	5,010	4,123
Federal Home Loan Bank advances	1,101	1,301
Wholesale repurchase agreements	288	357
Short-term borrowings	29	24
Interest expense	718	765
Obligation under capital lease agreements	74	83
Total interest expense	7,220	6,653
Net interest and dividend income before provision for loan losses	37,368	31,718
Provision for loan losses	717	531
Net interest and dividend income after provision for loan losses	36,651	31,187
Noninterest income:
Fees for other services to customers	1,494	1,644
Gain on sales of loans held for sale	1,877	1,650
Gain on sales of portfolio loans	2,821	1,006
Gain recognized on real estate owned and other repossessed collateral, net	428	63
Bank-owned life insurance income	440	451
Other noninterest income	29	55
Total noninterest income	7,089	4,869
Noninterest expense:
Salaries and employee benefits	18,817	17,786
Occupancy and equipment expense	4,939	5,448
Professional fees	1,658	1,285
Data processing fees	1,355	1,209
Marketing expense	244	311
Loan acquisition and collection expense	1,458	1,539
FDIC insurance premiums	504	480
Intangible asset amortization	589	746
Legal settlement recovery		(250)
Other noninterest expense	3,040	3,223
Total noninterest expense	32,604	31,777
Income from continuing operations before income tax expense	11,136	4,279
Income tax expense	3,995	1,579
Net income from continuing operations	7,141	2,700
Loss from discontinued operations		(12)
Income tax benefit		(4)
Net loss from discontinued operations		(8)
Net income	$ 7,141	$ 2,692
Weighted-average shares outstanding:
Basic (in shares)	9,980,733	10,404,784
Diluted (in shares)	9,980,733	10,404,784
Basic:
Income from continuing operations (in dollars per share)	$ 0.72	$ 0.26
Income from discontinued operations (in dollars per share)	0.00	0.00
Net Income (in dollars per share)	0.72	0.26
Diluted:
Income from continuing operations (in dollars per share)	0.72	0.26
Income from discontinued operations (in dollars per share)	0.00	0.00
Net income (in dollars per share)	0.72	0.26
Cash dividends declared per common share (in dollars per share)	$ 0.04	$ 0.28

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 7,141	$ 2,692
Available-for-sale securities:
Change in net unrealized gain or loss on available-for-sale securities	442	1,358
Total available-for-sale securities	442	1,358
Derivatives and hedging activities:
Change in accumulated loss on effective cash flow hedges	(529)	(325)
Reclassification adjustments for net gains included in net income	(49)	(76)
Total derivatives and hedging activities	(578)	(401)
Total other comprehensive (loss) income, before tax	(136)	957
Income tax (benefit) expense related to other comprehensive (loss) income	(131)	326
Other comprehensive (loss) income, net of tax	(5)	631
Comprehensive income	$ 7,136	$ 3,323

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' 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		2,692				2,692
Other comprehensive income (loss), net of tax			631			631
Common stock repurchased	(2,531)			$ (292)		(2,823)
Common stock repurchased (in shares)				(291,200)
Dividends on common stock at $0.04 and $0.28 per share for the nine month periods ended June 30, 2015 and 2014, respectively		(2,922)				(2,922)
Stock-based compensation	686					686
Forfeiture of restricted common stock	14			$ (14)
Forfeiture of restricted common stock (in shares)				(14,149)
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		7,141				7,141
Other comprehensive income (loss), net of tax			(5)			(5)
Common stock repurchased	(5,955)			$ (711)		(6,666)
Common stock repurchased (in shares)				(710,662)
Conversion of voting common stock to non-voting common stock				$ (132)	$ 132
Conversion of voting common stock to non-voting common stock (in shares)				(131,776)	131,776
Issuance of restricted common stock	(174)			$ 174
Issuance of restricted common stock (in shares)				174,000
Dividends on common stock at $0.04 and $0.28 per share for the nine month periods ended June 30, 2015 and 2014, respectively		(402)				(402)
Stock-based compensation	705					705
Forfeiture of restricted common stock	16			$ (16)
Forfeiture of restricted common stock (in shares)				(16,749)
Balance at Jun. 30, 2015	$ 85,506	$ 19,033	$ (1,288)	$ 8,575	$ 1,013	$ 112,839
Balance (in shares) at Jun. 30, 2015				8,575,144	1,012,739

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Dividends on common stock (in dollars per share)	$ 0.04	$ 0.28

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities:
Net income	$ 7,141	$ 2,692
Adjustments to reconcile net income to net cash used in operating activities
Provision for loan losses	717	531
Gain recognized on real estate owned and other repossessed collateral, net	(428)	(63)
Originations of loans held for sale	(98,383)	(91,366)
Net proceeds from sales of loans held for sale	103,170	89,665
Gain on sales of loans held for sale, net	(1,877)	(1,650)
Gain on sales of portfolio loans, net	(2,821)	(1,006)
Amortization of intangible assets	589	746
Bank-owned life insurance income, net	(440)	(451)
Depreciation of premises and equipment	1,666	1,999
Loss on sale of premises and equipment	91	16
Deferred income tax benefit	(1,185)	(2,672)
Stock-based compensation	705	686
Amortization of securities, net	1,001	1,237
Changes in other assets and liabilities:
Other assets	(60)	576
Other liabilities	556	1,443
Net cash used in operating activities	(1,740)	(5,539)
Investing activities:
Purchases of available-for-sale securities		(48,481)
Proceeds from maturities and principal payments on available-for-sale securities	11,414	56,318
Loan purchases	(82,654)	(79,823)
Proceeds from sales of portfolio loans	23,260	9,305
Loan originations, principal collections, and purchased loan paydowns, net	(24,585)	(4,372)
Purchases of premises and equipment	(1,244)	(1,086)
Proceeds from sales of premises and equipment	369	11
Proceeds from sales of real estate owned and other repossessed collateral	2,563	1,674
Redemption of regulatory stock, net		1,619
Net cash used in investing activities	(70,877)	(64,835)
Financing activities:
Net increase in deposits	100,601	90,266
Net (decrease) increase in short-term borrowings	(635)	2,359
Dividends paid on common stock	(402)	(2,922)
Repurchase of common stock	(6,666)	(2,823)
Repayment of FHLB borrowings and wholesale repurchase agreements	(12,500)	(15,000)
Proceeds from FHLB borrowings		15,000
Repayment of capital lease obligation	(190)	(181)
Net cash provided by financing activities	80,208	86,699
Net increase in cash and cash equivalents	7,591	16,325
Cash and cash equivalents, beginning of year	82,259	65,934
Cash and cash equivalents, end of year	89,850	82,259
Supplemental schedule of cash flow information:
Interest paid	7,487	7,496
Income taxes paid, net of refunds received	5,664	3,500
Supplemental schedule of noncash investing and financing activities:
Transfers from loans to real estate owned and other repossessed collateral	1,764	1,531
Loans net
Adjustments to reconcile net income to net cash used in operating activities
Accretion of fair value adjustments, net	(11,899)	(7,120)
Deposits net
Adjustments to reconcile net income to net cash used in operating activities
Accretion of fair value adjustments, net	(171)	(560)
Borrowings net
Adjustments to reconcile net income to net cash used in operating activities
Accretion of fair value adjustments, net	$ (112)	$ (242)

Summary of Significant Accounting Policies

12 Months Ended

Jun. 30, 2015

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

The accounting and reporting policies of Northeast Bancorp and Subsidiary ("Company" or "Northeast") conform to accounting principles generally accepted in the United States of America ("GAAP") and conform to practices within the financial services industry.

Business

The Company is a Maine corporation and a bank holding company registered with the Federal Reserve Bank of Boston ("FRB") under the Bank Holding Company Act of 1956. As a bank holding company, the Company is subject to the regulation and supervision of the FRB. The Company provides a full range of banking services to individual and corporate customers throughout south-central and western Maine and conducts loan purchasing and origination activities nationwide through its wholly-owned subsidiary, Northeast Bank (the "Bank"), a Maine state-chartered universal bank. The Bank is subject to supervision and regulation by applicable state and federal banking agencies, including the State of Maine Bureau of Financial Institutions, the Federal Deposit Insurance Corporation ("FDIC"), and the FRB. The Bank faces competition from banks and other financial institutions.

Business Combination Accounting

On December 29, 2010, the Company merged with FHB Formation LLC (the "Merger"). The Company applied the acquisition method of accounting to this business combination, which represented an acquisition by FHB Formation LLC ("FHB") of Northeast, with Northeast as the surviving company. Under the acquisition method, the acquiring entity in a business combination recognizes the assets acquired and liabilities assumed at their acquisition date fair values. Management utilizes valuation techniques appropriate for the asset or liability being measured in determining these fair values. Any excess of the purchase price over amounts allocated to assets acquired, including identifiable intangible assets, and liabilities assumed is recorded as goodwill. In the Merger, amounts allocated to assets acquired and liabilities assumed were greater than the purchase price, which resulted in the recognition of a bargain purchase gain. Acquisition-related costs were expensed as incurred.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of Northeast Bancorp, and its wholly-owned subsidiary, Northeast Bank (including the Bank's wholly-owned subsidiaries). All significant intercompany transactions and balances have been eliminated in consolidation.

NBN Capital Trust II, NBN Capital Trust III and NBN Capital Trust IV are considered affiliates and are deconsolidated pursuant to criteria established by Accounting Standards Codification ("ASC") 810, Consolidation ("ASC 810"). The investments in these affiliates were $496 thousand in aggregate and are included in other assets.

Reclassifications

Certain previously reported amounts have been reclassified to conform to the current year's presentation.

Use of Estimates

The financial statements have been prepared in conformity with GAAP. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the statement of financial condition and income and expenses for the period. Actual results could differ significantly from those estimates.

Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, the determination of fair values in conjunction with the application of acquisition accounting, and the on-going evaluation of assets for potential impairment.

Concentrations of Credit Risk

Most of the Community Bank's business activity is with customers located within the State of Maine. However, the LASG purchase and origination, as well as the SBA National origination activities are diversified across the country. In all regions, the Company has emphasized the origination and purchase of commercial real estate loans. Repayment of loans is expected to come from cash flows of the borrower. Losses on secured loans are limited by the value of the collateral upon default of the borrowers. The Company does not have any significant concentrations to any one industry or customer.

Cash and Cash Equivalents

For purposes of presentation in the consolidated statements of cash flows, cash and cash equivalents consist of cash and due from banks and short-term investments. The Company is required to maintain a certain reserve balance in the form of cash or deposits with other financial institutions. At June 30, 2015 and 2014, such reserve balances totaled $4.4 million and $2.4 million, respectively.

Investment Securities

Securities for which the Company has the positive intent and ability to hold to maturity are classified as held to maturity and carried at amortized cost. Those securities held for indefinite periods of time but not necessarily to maturity are classified as available for sale. Securities held for indefinite periods of time include securities that management intends to use as part of its asset/liability, liquidity, or capital management strategies and may be sold in response to changes in interest rates, maturities, asset/liability mix, liquidity needs, regulatory capital needs or other business factors. Securities available for sale are carried at estimated fair value with unrealized gains and losses reported on an after-tax basis in stockholders' equity as accumulated other comprehensive income or loss.

Interest and dividends on securities are recorded on the accrual method. Premiums and discounts on securities are amortized or accreted into interest income by the level-yield method over the remaining period to contractual maturity, adjusted for the effect of actual prepayments in the case of mortgage-backed securities. These estimates of prepayment assumptions are made based upon the actual performance of the underlying security, current interest rates, the general market consensus regarding changes in mortgage interest rates, the contractual repayment terms of the underlying loans, the priority rights of the investors to the cash flows from the mortgage securities and other economic conditions. When differences arise between anticipated prepayments and actual prepayments, the effective yield is recalculated to reflect actual payments to date and anticipated future payments. Unamortized premium or discount is adjusted to the amount that would have existed had the new effective yield been applied since purchase, with a corresponding charge or credit to interest income.

Security transactions are recorded on the trade date. Realized gains and losses are determined using the specific identification method and are recorded in non-interest income.

Management evaluates securities for other-than-temporary impairment on a periodic basis. Factors considered in determining whether an impairment is other-than-temporary include: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer and (3) the intent and ability of the Company to hold the investment for a period of time sufficient to allow for any anticipated recovery in fair value. If the Company intends to sell an impaired security, the Company records an other-than-temporary loss in an amount equal to the entire difference between the fair value and amortized cost. If a security is determined to be other-than-temporarily impaired but the Company does not intend to sell the security, only the credit portion of the estimated loss is recognized in earnings, with the other portion of the loss recognized in other comprehensive income.

Federal Home Loan Bank Stock

During the periods presented, the Company has owned investments in the stock of the Federal Home Loan Bank of Boston ("FHLBB"). No ready market exists for these stocks, and they have no quoted market values. The Bank, as a member of the FHLBB, is required to maintain investments in the capital stock of the FHLBB equal to their membership base investments plus an activity-based investment determined according to the Bank's level of outstanding FHLBB advances. The Company reviews its investments in FHLB stock periodically to determine if other-than-temporary impairment exists. The Company reviews recent public filings, rating agency analysis and other factors, when making the determination.

Loans Held for Sale and Loan Servicing

Residential real estate mortgage loans are designated as held for sale based on intent, which is determined when loans are underwritten. Loans originated and held for sale in the secondary market are carried at the lower of cost or fair value. The SBA National loans are designated as held for sale based on intent to sell, which is determined on a monthly basis. The guaranteed portions of the loans are transferred to held for sale and are carried at the lower of cost or fair value. Realized gains and losses on sales of loans are determined using the specific identification method. Direct loan originations costs and fees related to loans held for sale are deferred upon origination and are recognized on the date of sale.

In its mortgage banking activities, the Company sells loans both on a servicing released and servicing retained basis. The Company recognizes as separate assets the rights to service mortgage loans for others, which is included in other assets on the consolidated balance sheet. The Company capitalizes mortgage servicing rights at their allocated cost (based on the relative fair values of the rights and the related loans) upon the sale of the related loans. The Company uses the amortization method to subsequently measure servicing assets. Mortgage servicing rights are amortized over the estimated weighted average life of the loans. The Company's assumptions with respect to prepayments, which affect the estimated average life of the loans, are adjusted quarterly and as necessary to reflect current circumstances. The Company evaluates the estimated life and fair value of its servicing portfolio based on data that is disaggregated to reflect note rate, type, and term on the underlying loans. The Company performs an assessment of capitalized mortgage servicing rights for impairment based on the current fair value of those rights. Fair value of the mortgage servicing rights is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, prepayment speeds and default rates and losses. Impairment is recognized through a valuation allowance to the extent that fair value is less than the capitalized amount. If the Company later determines that all or a portion of the impairment no longer exists, a reduction of the allowance may be recorded as an increase to income.

In its SBA national activity, the Company recognizes the SBA servicing rights as separate assets, which is included in other assets on the consolidated balance sheet. The Company capitalizes SBA servicing rights at the net present value of the fee income and fee cost spread upon the sale of the related loans. The Company uses the amortization method to subsequently measure servicing assets. The SBA servicing rights are amortized over the estimated weighted average life of the loans. The Company's assumptions with respect to prepayments, which affect the estimated average life of the loans, are adjusted quarterly and as necessary to reflect current circumstances. The Company evaluates the estimated life and fair value of its servicing portfolio based on data that is disaggregated to reflect note rate, type, and term on the underlying loans. The Company performs an assessment of capitalized SBA servicing rights for impairment based on the current fair value of those rights. Fair value of the mortgage servicing rights is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the cost to service, the discount rate, prepayment speeds and default rates and losses. Impairment is recognized through a valuation allowance to the extent that fair value is less than the capitalized amount. If the Company later determines that all or a portion of the impairment no longer exists, a reduction of the allowance may be recorded as an increase to income.

In connection with the mortgage loans to be held for sale, the Company often offers interest rate lock commitments to prospective borrowers. The Company manages this interest rate risk by entering into offsetting forward sale agreements with third party investors for certain funded loans and loan commitments. The Company uses "best efforts" forward loan sale commitments to mitigate the risk of potential decreases in the values of loans that would result from the exercise of the derivative loan commitments. The net effect of the derivative loan commitments and forward sale agreements is nominal at each date presented.

Loans

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.

Allowance for Loan Losses

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 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 adequacy 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. Continued 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 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.

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
	•	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 years ended June 30, 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 the collecting scheduled principal and interest payments when due.

Premises and Equipment

Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed by the straight-line method over the estimated useful lives of the assets. Premises and equipment under capital leases are amortized over the estimated useful lives of the assets or the respective lease terms, whichever is shorter. Maintenance and repairs are charged to expense as incurred and the cost of major renewals and betterments are capitalized.

Intangible Assets

Identifiable intangible assets subject to amortization are amortized over the estimated lives of the intangibles using a method that approximates the amount of economic benefits that are realized by the Company. Identifiable intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable.

Real Estate Owned and Other Repossessed Collateral

Assets in control of the Company or acquired through foreclosure or repossession are held for sale and are initially recorded at fair value less cost to sell at the date control is established, resulting in a new cost basis. The amount by which the recorded investment in the loan exceeds the fair value (net of estimated cost to sell) of the foreclosed asset is charged to the allowance for loan losses. Subsequent declines in the fair value of the foreclosed asset below the new cost basis are recorded through the use of a valuation allowance or through a direct write-off. Subsequent increases in the fair value may only be recorded to the extent of any previously recognized valuation allowance. Rental revenue received and gains and losses recognized on foreclosed assets is included in other noninterest income, whereas operating expenses and changes in the valuation allowance relating to foreclosed assets are included in other noninterest expense.

Impairment of Long-Lived Assets

The Company reviews long-lived assets, including premises and equipment, for impairment whenever events or changes in business circumstances indicate that the remaining useful life may warrant revision or that the carrying amount of the long-lived asset may not be fully recoverable. The Company performs undiscounted cash flow analyses to determine if impairment exists. If impairment is determined to exist, any related impairment loss is calculated based on fair value. Impairment losses on assets to be disposed of, if any, are based on the estimated proceeds to be received, less costs of disposal.

Bank Owned Life Insurance

Increases in the cash surrender value of life insurance policies, as well as death benefits received net of any cash surrender value, are recorded in other noninterest income, and are not subject to income taxes. The cash surrender value of the policies not previously endorsed to participants are recorded as assets of the Company. Any amounts owed to participants relating to these policies are recorded as liabilities of the Company. The Company reviews the financial strength of the insurance carriers prior to the purchase of life insurance policies and no less than annually thereafter.

Income Taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. The Company's policy is to recognize interest and penalties assessed on uncertain tax positions in income tax expense.

Stock-Based Compensation

The Company's stock-based compensation plans provide for awards of stock options, restricted stock and other stock-based compensation to directors, officers and employees. The cost of employee services received in exchange for awards of equity instruments is based on the grant-date fair value of those awards. Compensation cost is recognized over the requisite service period as a component of compensation expense. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company uses the Black-Scholes model to estimate the fair value of stock options, while the market price of the Company's common stock at the date of grant is used for restricted stock awards.

Discontinued Operations

During the first quarter of fiscal 2014, the Company ceased all investment brokerage operations. The results of such operations are classified as discontinued operations in the statements of income for each period presented. The Company has eliminated all intercompany transactions related to discontinued operations for each period presented.

Comprehensive Income

Comprehensive income consists of net income and other comprehensive income. Other comprehensive income includes unrealized gains and losses on securities available for sale, unrealized losses related to factors other than credit on debt securities, unrealized gains and losses on cash flow hedges and deferred gains on hedge accounting transactions.

Earnings Per Share

Basic earnings per share is calculated using the two-class method. The two-class method is an earnings allocation formula under which earnings per share is calculated from common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Under this method, all earnings distributed and undistributed, are allocated to participating securities and common shares based on their respective rights to receive dividends. Unvested share-based payment awards that contain non-forfeitable rights to dividends are considered participating securities (i.e. unvested restricted stock), not subject to performance based measures. Basic earnings per share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding (inclusive of participating securities). Diluted earnings per share have been calculated in a manner similar to that of basic earnings per share except that the weighted average number of common shares outstanding is increased to include the number of additional common shares that would have been outstanding if all potentially dilutive common shares (such as those resulting from the exercise of stock options or the attainment of performance measures) were issued during the period, computed using the treasury stock method.

Derivatives

Derivative instruments are carried at fair value in the Company's financial statements. The accounting for changes in the fair value of a derivative instrument is determined by whether it has been designated and qualifies as part of a hedging relationship, and further, by the type of hedging relationship. For those derivative instruments that are designated and qualify as hedging instruments, the Company designates the hedging instrument, based upon the exposure being hedged, as either a fair value hedge or a cash flow hedge. For derivative instruments that are designated and qualify as a cash flow hedge (i.e., hedging the exposure to variability in expected future cash flows that is attributable to a particular risk), the effective portion of the gain or loss on the derivative instrument is reported as a component of other comprehensive income, net of related tax, and reclassified into earnings in the same period or periods during which the hedged transactions affect earnings. The remaining gain or loss on the derivative instrument in excess of the cumulative change in the present value of future cash flows of the hedged item (i.e., the ineffective portion), if any, is recognized in current earnings during the period. For derivative instruments designated and qualifying as a fair value hedge (i.e., hedging the exposure to changes in the fair value of an asset or liability or an identified portion thereof that is attributable to the hedged risk), the gain or loss on the derivative instrument, as well as the offsetting gain or loss on the hedged item attributable to the hedged risk, are recognized in current earnings during the period of the change in fair values. At the inception of a hedge, the Company documents certain items, including but not limited to the following: the relationship between hedging instruments and hedged items, Company risk management objectives, hedging strategies, and the evaluation of hedge transaction effectiveness. Documentation includes linking all derivatives designated as fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific forecasted transactions.

Hedge accounting is discontinued prospectively when (1) a derivative is no longer highly effective in offsetting changes in the fair value or cash flow of a hedged item, (2) a derivative expires or is sold, (3) a derivative is de-designated as a hedge, because it is unlikely that a forecasted transaction will occur, or (4) it is determined that designation of a derivative as a hedge is no longer appropriate. For derivative instruments not designated as hedging instruments, the gain or loss on the derivative is recognized in current earnings during the period of change.

Transfer of Financial Assets

Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets. There are no agreements to repurchase before their maturity.

The Company sells financial assets in the normal course of business, the majority of which are related to the SBA-guaranteed portion of loans, as well as residential mortgage loan sales through established programs, commercial loan sales through participation agreements, and other individual or portfolio loan and securities sales. In accordance with accounting guidance for asset transfers, the Company considers any ongoing involvement with transferred assets in determining whether the assets can be derecognized from the balance sheet. With the exception of servicing and certain performance-based guarantees, the Company's continuing involvement with financial assets sold is minimal and generally limited to market customary representation and warranty clauses.

When the Company sells financial assets, it may retain servicing rights and/or other interests in the financial assets. The gain or loss on sale depends on the previous carrying amount of the transferred financial assets and the consideration received and any liabilities incurred in exchange for the transferred assets. Upon transfer, any servicing assets and other interests held by the Company are carried at the lower of cost or fair value.

Segment Reporting

All of the Company's operations are considered by management to be aggregated in one reportable operating segment.

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. Additionally, in August 2015 the FAB issued ASU 2015-14, which effectively deferred the adoption of ASU 2014-09 by one year, to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period.

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 became effective January 1, 2015 and did not have an 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.

Securities Available-for-sale

12 Months Ended

Jun. 30, 2015

Securities Available-for-Sale

Securities Available-for-sale

2. 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.

	June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
U.S. Government agency securities	$	48,191	$	40	$	(1	)	$	48,230
Agency mortgage-backed securities		54,553		2		(877	)		53,678

	$	102,744	$	42	$	(878	)	$	101,908

	June 30, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair 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

At June 30, 2015, the Company held no securities of any single issuer (excluding the U. S. Government and federal agencies) with a book value that exceeded 10 percent of stockholders' equity.

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 fiscal 2015 or fiscal 2014. At June 30, 2015, investment securities with a fair value of approximately $12.4 million were pledged as collateral to secure outstanding wholesale repurchase agreements and FHLB advances.

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.

	June 30, 2015
	Less than 12 Months					More than 12 Months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in thousands)
U.S. Government agency securities	$	2,999	$	(1	)	$	—	$	—		$	2,999	$	(1	)
Agency mortgage-backed securities		10,295		(106	)		41,349		(771	)		51,644		(877	)

	$	13,294	$	(107	)	$	41,349	$	(771	)	$	54,643	$	(878	)

	June 30, 2014
	Less than 12 Months					More than 12 Months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized 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 years ended June 30, 2015 and 2014.

At June 30, 2015, the Company had 16 securities in a continuous loss position for greater than twelve months. At June 30, 2015, all of the Company's available-for-sale securities were issued or guaranteed by either government agencies or government-sponsored enterprises. In management's estimation, the decline in fair value of the Company's available-for-sale securities at June 30, 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 June 30, 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 June 30, 2015.

The amortized cost and fair values of available-for-sale debt securities by contractual maturity are shown below as of June 30, 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 Cost		Fair Value
	(Dollars in thousands)
Due within one year	$	36,117	$	36,142
Due after one year through five years		12,074		12,088
Due after five years through ten years		26,425		26,119
Due after ten years		28,128		27,559

	$	102,744	$	101,908

- Definition

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

+ References + Details

Loans, Allowance for Loan Losses and Credit Quality

12 Months Ended

Jun. 30, 2015

Loans, Allowance for Loan Losses and Credit Quality

Loans, Allowance for Loan Losses and Credit Quality

3. Loans, Allowance for Loan Losses and Credit Quality

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

	June 30, 2015						June 30, 2014
	Originated		Purchased		Total		Originated		Purchased		Total
	(Dollars in thousands)
Residential real estate	$	106,275	$	2,068	$	108,343	$	116,972	$	3,687	$	120,659
Home equity		24,326		—		24,326		27,975		—		27,975
Commercial real estate		148,425		200,251		348,676		116,617		199,481		316,098
Commercial business		122,860		273		123,133		41,518		282		41,800
Consumer		7,659		—		7,659		9,884		—		9,884

Total loans	$	409,545	$	202,592	$	612,137	$	312,966	$	203,450	$	516,416

Included in the originated loan portfolio is $11.0 million of loans originated through SBA National, which includes $8.3 million of commercial real estate and $2.7 million of commercial business.

Loans pledged as collateral with the FHLB for outstanding borrowings and additional borrowing capacity totaled $131.3 million and $187.6 million at June 30, 2015 and 2014, respectively.

Past Due and Nonaccrual Loans

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

	June 30, 2015
	30 - 59 Days		60 - 89 Days		Past Due 90 Days or More-Still Accruing		Past Due 90 Days or More- Nonaccrual		Total Past Due		Total Current		Total Loans		Non- Accrual Loans
	(Dollars in thousands)
Originated portfolio:
Residential real estate	$	239	$	973	$	—	$	1,393	$	2,605	$	103,670	$	106,275	$	3,021
Home equity		9		—		—		11		20		24,306		24,326		11
Commercial real estate		300		—		—		704		1,004		147,421		148,425		994
Commercial business		—		—		—		2		2		122,858		122,860		2
Consumer		105		29		—		56		190		7,469		7,659		190

Total originated portfolio		653		1,002		—		2,166		3,821		405,724		409,545		4,218
Purchased portfolio:
Residential real estate		—		—		—		—		—		2,068		2,068		—
Commercial business		—		—		—		—		—		273		273		—
Commercial real estate		86		299		—		2,410		2,795		197,456		200,251		6,532

Total purchased portfolio		86		299		—		2,410		2,795		199,797		202,592		6,532

Total loans	$	739	$	1,301	$	—	$	4,576	$	6,616	$	605,521	$	612,137	$	10,750

	June 30, 2014
	30 - 59 Days		60 - 89 Days		Past Due 90 Days or More-Still Accruing		Past Due 90 Days or More- Nonaccrual		Total Past Due		Total Current		Total Loans		Non- Accrual 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

Activity in the allowance for loan losses follows.

	Year ended June 30, 2015
	Residential Real Estate			Commercial Real Estate		Commercial Business			Consumer			Purchased		Unallocated		Total
	(Dollars in thousands)
Beginning balance	$	580		$	358	$	48		$	79		$	268	$	34	$	1,367
Provision		344			335		38			(37	)		15		22		717
Recoveries		24			1		34			21			—		—		80
Charge-offs		(207	)		—		(3	)		(28	)		—		—		(238	)

Ending balance	$	741		$	694	$	117		$	35		$	283	$	56	$	1,926

	Year ended June 30, 2014
	Residential Real Estate			Commercial Real Estate			Commercial Business			Consumer			Purchased		Unallocated			Total
	(Dollars in thousands)
Beginning balance	$	594		$	173		$	70		$	189		$	76	$	41		$	1,143
Provision		190			211			13			(66	)		190		(7	)		531
Recoveries		63			—			8			25			2		—			98
Charge-offs		(267	)		(26	)		(43	)		(69	)		—		—			(405	)

Ending balance	$	580		$	358		$	48		$	79		$	268	$	34		$	1,367

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

	June 30, 2015
	Residential Real Estate		Commercial Real Estate		Commercial Business		Consumer		Purchased		Unallocated		Total
	(Dollars in thousands)
Allowance for loan losses:
Individually evaluated	$	435	$	21	$	—	$	—	$	—	$	—	$	456
Collectively evaluated		306		673		117		35		—		56		1,187
ASC 310-30		—		—		—		—		283		—		283

Total	$	741	$	694	$	117	$	35	$	283	$	56	$	1,926


Loans:
Individually evaluated	$	4,095	$	2,381	$	2	$	253	$	—	$	—	$	6,731
Collectively evaluated		126,506		146,044		122,858		7,406		—		—		402,814
ASC 310-30		—		—		—		—		202,592		—		202,592

Total	$	130,601	$	148,425	$	122,860	$	7,659	$	202,592	$	—	$	612,137

	June 30, 2014
	Residential Real Estate		Commercial Real Estate		Commercial Business		Consumer		Purchased		Unallocated		Total
	(Dollars in thousands)
Allowance for loan losses:
Individually evaluated	$	190	$	84	$	—	$	6	$	—	$	—	$	280
Collectively evaluated		390		274		48		73		—		34		820
ASC 310-30		—		—		—		—		268		—		267

Total	$	580	$	358	$	48	$	79	$	268	$	34	$	1,367


Loans:
Individually evaluated	$	2,314	$	2,549	$	—	$	240	$	—	$	—	$	5,103
Collectively evaluated		142,633		114,068		41,518		9,644		—		—		307,863
ASC 310-30		—		—		—		—		203,450		—		203,450

Total	$	144,947	$	116,617	$	41,518	$	9,884	$	203,450	$	—	$	516,416

Included in the loans collectively evaluated for the allowance for loan losses for the year ending June 30, 2015 are the SBA National and SBA community bank loans, which are assigned a loss rate on the unguaranteed portion of the loan. Included is an allowance of $282 thousand on a loan portfolio of $17.4 million, which includes the unguaranteed portion of the SBA National loans, as well as the SBA community bank loans.

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.

	At June 30, 2015						For the Year Ended June 30, 2015
	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
	(Dollars in thousands)						(Dollars in thousands)
Impaired loans without a valuation allowance:
Originated:
Residential real estate	$	1,975	$	2,076	$	—	$	1,490	$	92
Consumer		253		262		—		226		80
Commercial real estate		1,505		1,510		—		1,436		71
Commercial business		2		2		—		1		1
Purchased:										—
Commercial real estate		7,673		9,606		—		5,265		249

Total		11,408		13,456		—		8,418		493
Impaired loans with a valuation allowance:
Originated:
Residential real estate		2,120		2,060		435		1,715		87
Consumer		—		—		—		20		17
Commercial real estate		876		870		21		1,029		59
Commercial business		—		—		—		—		—
Purchased:
Commercial real estate		1,208		1,644		260		1,549		41

Total		4,204		4,574		716		4,313		204

Total impaired loans	$	15,612	$	18,030	$	716	$	12,731	$	697

	At June 30, 2014						For the Year Ended June 30, 2014
	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
	(Dollars in thousands)						(Dollars in thousands)
Impaired loans without a valuation allowance:
Originated:
Residential real estate	$	1,005	$	1,081	$	—	$	1,038	$	41
Consumer		200		205		—		132		8
Commercial real estate		1,368		1,371		—		782		40
Commercial business		—		—		—		51		8
Purchased:
Commercial real estate		2,857		4,148		—		2,639		89

Total		5,430		6,805		—		4,642		186
Impaired loans with a valuation allowance:
Originated:
Residential real estate		1,309		1,278		190		1,323		65
Consumer		40		47		6		75		5
Commercial real estate		1,181		1,187		84		1,131		78
Commercial business		—		—		—		30		1
Purchased:
Commercial real estate		1,890		2,215		166		1,228		76

Total		4,420		4,727		446		3,787		225

Total impaired loans	$	9,850	$	11,532	$	446	$	8,429	$	411

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 liquidation 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.

	June 30, 2015
	Originated Portfolio
	Commercial Real Estate		Commercial Business		Residential(1)		Purchased Portfolio		Total
	(Dollars in thousands)
Loans rated 1 - 6	$	142,321	$	122,829	$	8,049	$	190,193	$	463,392
Loans rated 7		4,417		31		634		5,628		10,710
Loans rated 8		1,687		—		429		6,771		8,887
Loans rated 9		—		—		23		—		23
Loans rated 10		—		—		—		—		—

	$	148,425	$	122,860	$	9,135	$	202,592	$	483,012

	June 30, 2014
	Originated Portfolio
	Commercial Real Estate		Commercial Business		Residential(1)		Purchased 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.

	Year Ended June 30,
	2015				2014
	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
	(Dollars in thousands)
Extended maturity		7	$	1,934		5	$	2,082
Adjusted interest rate		9		430		2		118
Rate and maturity		6		211		6		306
Principal deferment		1		443		2		341
Court ordered concession		4		84		2		50
Other		—		—		2		171

		27	$	3,102		19	$	3,068

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

	Year Ended June 30,
	2015						2014
	Number of Contracts		Recorded Investment Pre-Modification		Recorded Investment Post-Modification		Number of Contracts		Recorded Investment Pre-Modification		Recorded Investment Post-Modification
	(Dollars in thousands)
Originated portfolio:
Residential real estate		17	$	1,223	$	1,223		4	$	164	$	164
Home equity		—		—		—		2		22		22
Commercial real estate		1		200		200		5		691		691
Commercial business		—		—		—		1		18		18
Consumer		6		51		51		4		144		144

Total originated portfolio		24		1,474		1,474		16		1,039		1,039
Purchased portfolio:
Commercial real estate		3		1,628		1,628		3		1,990		2,029

Total purchased portfolio		3		1,628		1,628		3		1,990		2,029

Total		27	$	3,102	$	3,102		19	$	3,029	$	3,068

As of June 30, 2015, there were no further commitments to lend associated with loans modified in a TDR.

The following table shows the loans that have been modified during the past twelve months which have subsequently defaulted during the periods indicated. The Company considers a loan to have defaulted when it reaches 90 days past due.

	Year Ended June 30,
	2015				2014
	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
	(Dollars in thousands)
Residential		3	$	100		3	$	163
Consumer		—		—		1		10

		3	$	100		4	$	173

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 year ended June 30, 2015.

	June 30, 2015			June 30, 2014
	(Dollars in thousands)
Contractually required payments receivable	$	128,452		$	116,786
Nonaccretable difference		(2,042	)		(1,564	)

Cash flows expected to be collected		126,410			115,222
Accretable yield		(43,756	)		(35,399	)

Fair value of loans acquired	$	82,654		$	79,823

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:

	June 30, 2015
	(Dollars in thousands)
Loans acquired during the period	$	357
Loans at end of period		6,127

For the year ended June 30, 2014, no loans acquired by the Company were not accounted for using the income recognition model.

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

	June 30, 2015			June 30, 2014
	(Dollars in thousands)
Beginning balance	$	109,040		$	108,251
Acquisitions		43,756			35,399
Accretion		(16,886	)		(15,433	)
Reclassifications from nonaccretable difference, net		157			791
Disposals and other changes		(24,618	)		(19,968	)

End balance	$	111,449		$	109,040

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

	June 30, 2015		June 30, 2014
	(Dollars in thousands)
Unpaid principal balance	$	235,716	$	239,376
Carrying amount		199,113		201,171

Premises and Equipment

12 Months Ended

Jun. 30, 2015

Premises and Equipment

Premises and Equipment

4. Premises and Equipment

Premises and equipment consists of the following:

	June 30, 2015		June 30, 2014		Estimated Useful Life
	(Dollars in thousands)				(In years)
Land	$	804	$	940	n/a
Buildings		1,760		2,119	39
Assets recorded under capital lease		1,850		1,850	Term of lease

Leasehold and building improvements		3,051		2,330	5 - 39 (or term of lease, if shorter)
Furniture, fixtures and equipment		7,745		7,286	3 - 7

		15,210		14,525
Less accumulated depreciation		6,957		5,390

Net premises and equipment	$	8,253	$	9,135

Depreciation and amortization of premises and equipment included in occupancy and equipment expense was $1.7 million for the year ended June 30, 2015 and $2.0 million for the year ended June 30, 2014.

Intangible Assets

12 Months Ended

Jun. 30, 2015

Intangible Assets

Intangible Assets

5. Intangible Assets

At June 30, 2015 and 2014, intangible assets consisted of a core deposit intangible. The Company's core deposit intangible is being amortized on an accelerated basis over 9.5 years.

The changes in the carrying amount of the core deposit intangible follow:

	June 30, 2015
	(Dollars in thousands)
Balance, June 30, 2013	$	3,544
Amortization		(746	)

Balance, June 30, 2014		2,798
Amortization		(589	)

Balance, June 30, 2015	$	2,209

The components of core deposit intangible follow:

	June 30, 2015			June 30, 2014
	(Dollars in thousands)
Core Deposit Intangible:
Gross carrying amount	$	6,348		$	6,348
Accumulated amortization		(4,139	)		(3,550	)

	$	2,209		$	2,798

Estimated annual amortization expense associated with the core deposit intangible follows for the fiscal years ending June 30:

	June 30, 2015
	(Dollars in thousands)
2016	$	477
2017		432
2018		433
2019		433
2020		434

	$	2,209

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Transfers and Servicing of Financial Assets

12 Months Ended

Jun. 30, 2015

Transfers and Servicing of Financial Assets

Transfers and Servicing of Financial Assets

6. Transfers and Servicing of Financial Assets

The Company sells loans in the secondary market and retains the servicing responsibility for the sold loans. Consideration for the sale includes the cash received as well as the related servicing rights asset. The Company receives fees for the services provided. Mortgage loans sold in the year ended June 30, 2015 totaled $101.3 million, compared to $88.0 million in the year ended June 30, 2014. Mortgage serviced for others totaled $108.4 million and $82.0 million at June 30, 2015 and 2014, respectively. SBA loans sold during the year ended June 30, 2015 totaled $22.2 million, compared to $3.6 million in the year ended June 30, 2014. SBA serviced for others totaled $53.5 million and $37.8 million at June 30, 2015 and 2014, respectively.

Mortgage loans and SBA loans serviced for others are accounted for as sales and therefore are not included in the accompanying consolidated balance sheets. The risks inherent in mortgage servicing assets and SBA servicing assets relate primarily to changes in prepayments that result from shifts in interest rates.

Contractually specified servicing fees were $471 thousand and $521 thousand for the year ended June 30, 2015 and 2014, respectively, and included as a component of loan related fees within non-interest income.

The significant assumptions used in the valuation for mortgage servicing rights as of June 30, 2015 included a weighted average discount rate of 7.5% and a weighted average prepayment speed assumption of 13.14%. For the SBA servicing rights, the significant assumptions used in the valuation included pre-payment speed assumptions ranging from 6.08% to 7.25%.

Mortgage servicing rights activity was as follows:

	June 30, 2015
	(Dollars in thousands)
Balance, June 30, 2013	$	68
Additions		—
Disposals		—
Amortization		(24	)
Allowance Adjustment		20

Balance, June 30, 2014		64
Additions		—
Disposals		—
Amortization		(28	)
Allowance Adjustment		1

Balance, June 30, 2015	$	37

SBA servicing rights activity was as follows:

	June 30, 2015
	(Dollars in thousands)
Balance, June 30, 2013	$	116
Additions		138
Disposals		—
Amortization		(18	)
Allowance Adjustment		—

Balance, June 30, 2014		236
Additions		940
Disposals		—
Amortization		(80	)
Allowance Adjustment		(19	)

Balance, June 30, 2015	$	1,077

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References + Details

Deposits

12 Months Ended

Jun. 30, 2015

Deposits

Deposits

7. Deposits

The composition of deposits is as follows:

	June 30, 2015		June 30, 2014
	(Dollars in thousands)
Demand	$	60,383	$	50,140
NOW		64,289		63,648
Money market		168,527		83,901
Regular savings		35,845		34,692
Time certificates of less than $100 thousand		82,973		90,644
Other time certificates		262,742		251,304

	$	674.759	$	574,329

The aggregate amount of time deposits in denominations of $250 thousand or more as of June 30, 2015 and 2014 was $569 thousand and $2.3 million, respectively.

At June 30, 2015 scheduled maturities of time certificates by fiscal year are as follows:

	June 30, 2015
	(Dollars in thousands)
2016	$	149,656
2017		101,195
2018		51,976
2019		28,249
2020		14,306
Thereafter		333

	$	345,715

Borrowings

12 Months Ended

Jun. 30, 2015

Borrowings.

Borrowings

8. Borrowings

Federal Home Loan Bank Advances

A summary of advances from the Federal Home Loan Bank of Boston as of June 30 follows:

	Unpaid Principal Balance				Carrying Amount(1)				Weighted Average Interest Rate
Maturity By Fiscal Year	2015		2014		2015		2014		2015			2014
	(Dollars in thousands)
2016		15,000		—		15,000		—		0.38	%		—
2017		10,000		10,000		10,123		10,210		2.84	%		4.26	%
2018		5,000		5,000		5,065		5,091		1.43	%		4.29	%

	$	30,000	$	15,000	$	30,188	$	15,301		2.34	%		2.51	%


(1)	The difference between the carrying amount and the unpaid principal balance is the result of purchase accounting. The premium or discount is being amortized or accreted as interest expense over the instrument's contractual life.

At June 30, 2015, FHLB advances with unpaid principal of $10.0 million were subject to call provisions and may be called prior to the stated maturity.

Certain mortgage loans, free of liens, pledges and encumbrances and certain investment securities maintained at the FHLB not otherwise pledged have been pledged under a blanket agreement to secure these advances. The Company is required to own stock in the Federal Home Loan Bank of Boston in order to borrow from the FHLB.

As of June 30, 2015, the Company had approximately $45.7 million of additional capacity to borrow from the FHLB.

Wholesale Repurchase Agreements

A summary of wholesale repurchase agreements as of June 30 follows:

	Unpaid Principal Balance				Carrying Amount(1)				Weighted Average Interest Rate
Maturity By Fiscal Year	2015		2014		2015		2014		2015			2014
	(Dollars in thousands)
2016		10,000		10,000		10,037		10,199		4.44	%		4.44	%

	$	10,000	$	10,000	$	10,037	$	10,199		4.44	%		4.44	%


(1)	The difference between the carrying amount and the unpaid principal balance is the result of purchase accounting. The premium or discount is being amortized or accreted as interest expense over the instrument's contractual life.

At June 30, 2015, $10.0 million of wholesale repurchase agreements maturing in fiscal 2016 are callable on a quarterly basis.

The Company is subject to margin calls on each transaction to maintain the necessary collateral in the form of cash or other mortgage-backed securities during the borrowing term.

Capital Lease Obligation

In fiscal 2006, the Company recognized a capital lease obligation for its Lewiston, Maine, headquarters. The present value of the lease payments over fifteen years exceeded 90% of the fair value of the property.

The outstanding capital lease obligations are as follows for years ending June 30, 2015:

	Capital Lease Obligation
	(Dollars in thousands)
2016	$	303
2017		306
2018		306
2019		306
2020		306
2021 and thereafter		25

		1,552
Imputed interest		(184	)

Capital lease obligation	$	1,368

Short-Term Borrowings

Short-term borrowings are sweep accounts, which are a demand account product that moves balances in excess of an agreed upon target amount from a demand deposit account into an interest-bearing account overnight. The sweep account is collateralized with a letter of credit issued by the FHLBB. The weighted average interest rate on short-term borrowings was 1.91% and 1.35% at June 30, 2015 and 2014, respectively.

Junior Subordinated Debentures Issued to Affiliated Trusts

12 Months Ended

Jun. 30, 2015

Junior Subordinated Debentures Issued to Affiliated Trusts

Junior Subordinated Debentures Issued to Affiliated Trusts

9. Junior Subordinated Debentures Issued to Affiliated Trusts

NBN Capital Trust II and NBN Capital Trust III were created in December 2003. NBN Capital Trust IV was created in December 2004. Each such trust is a Delaware statutory trust (together, the "Private Trusts"). The exclusive purpose of the Private Trusts was (i) issuing and selling common securities and preferred securities in a private placement offering (the "Private Trust Securities"), (ii) using the proceeds of the sale of the Private Trust Securities to acquire Junior Subordinated Deferrable Interest Notes ("Junior Subordinated Debentures"); and (iii) engaging only in those other activities necessary, convenient or incidental thereto. Accordingly, the Junior Subordinated Debentures are the sole assets of each of the Private Trusts.

The following table summarizes the Junior Subordinated Debentures issued by the Company to each affiliated trust and the Private Trust Securities issued by each affiliated trust as of June 30, 2015. Amounts include the junior subordinated debentures acquired by the affiliated trusts from the Company with the capital contributed by the Company in exchange for the common securities of such trust, which were $93 thousand each for NBN Capital Trust II and III and $310 thousand for NBN Capital Trust IV. The trust preferred securities (the "Preferred Securities") were sold in two separate private placement offerings. The Company has the right to redeem the Junior Subordinated Debentures, in whole or in part, on or after March 30, 2009, for NBN Capital Trust II and III, and on or after February 23, 2010, for NBN Capital Trust IV, at the redemption price specified in the associated Indenture, plus accrued but unpaid interest to the redemption date.

		Unpaid Principal Balance
						Carrying Amount(1)
	Maturity Date					Carrying Amount(1)
	Maturity Date	2015		2014		2015		2014
		(Dollars in thousands)
NBN Capital Trust II	March 30, 2034	$	3,093	$	3,093	$	1,835	$	1,804
NBN Capital Trust III	March 30, 2034		3,093		3,093		1,835		1,804
NBN Capital Trust IV	February 23, 2035		10,310		10,310		4,956		4,832

		$	16,496	$	16,496	$	8,626	$	8,440


(1)	The difference between the carrying amount and the unpaid principal balance is the result of purchase accounting. The premium or discount is being amortized or accreted as interest expense over the instrument's contractual life.

NBN Capital Trust II and III pay a variable rate based on three month LIBOR plus 2.80%, and NBN Capital Trust IV pays a variable rate based on three month LIBOR plus 1.89%. Accordingly, the Preferred Securities of the Private Trusts currently pay quarterly distributions at an annual rate of 3.26% for the stated liquidation amount of $1,000 per Preferred Security for NBN Capital Trust II and III and an annual rate of 2.36% for the stated liquidation amount of $1,000 per Preferred Security for NBN Capital Trust IV. The Company has fully and unconditionally guaranteed all of the obligations of each trust. The guaranty covers the quarterly distributions and payments on liquidation or redemption of the Private Trust Securities, but only to the extent of funds held by the trusts.

The Junior Subordinated Debentures each have variable rates indexed to three-month LIBOR. During the fiscal year ended June 30, 2010, the Company purchased two interest rate caps and an interest rate swap to hedge the interest rate risk on notional amounts of $6 million and $10 million, respectively, of the Company's Junior Subordinated Debentures. Each was a cash flow hedge to manage the risk to net interest income in a period of rising rates. During the fiscal year ended June 30, 2015, both the $6 million cap and the $10 million interest rate swap expired, and two interest rate caps in the amounts of $6 million and $10 million were purchased in October 2014 and March 2015, respectively.

The interest rate caps hedge the junior subordinated debt resulting from the issuance of trust preferred securities by our affiliates NBN Capital Trust II, NBN Capital Trust III and NBN Capital Trust IV. The notional amount of $6 million and $10 million for each interest rate cap represents the outstanding junior subordinated debt from each trust. The strike rate is 2.50%. The Company will recognize higher interest expense on the junior subordinated debt for the first 200 basis points increase in three-month LIBOR. Once the three-month LIBOR rate exceeds 2.50% on a quarterly reset date, there will be a payment by the counterparty to the Company at the following quarter end. The effective date of the purchased interest rate caps were October 2014 and March 2015, respectively, and mature five years after.

Capital and Regulatory Matters

12 Months Ended

Jun. 30, 2015

Capital and Regulatory Matters

Capital and Regulatory Matters

10. Capital and Regulatory Matters

The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Company's and the Bank's capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

The prompt corrective action regulations define specific capital categories based on an institution's capital ratios. The capital categories, in declining order, are "well capitalized," "adequately capitalized," "undercapitalized," "significantly undercapitalized" and "critically undercapitalized."

As of June 30, 2015 and 2014, the most recent notification from the Company's and the Bank's regulator categorized the Company and the Bank as "well capitalized" under the regulatory framework for prompt corrective action. To be categorized as "well capitalized," the Company and the Bank must maintain minimum Common equity tier 1 risk-based, total risk-based, Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table below. There are no conditions or events since that notification that management believes have changed the institution's regulatory designation as "well-capitalized" under the regulatory framework for prompt corrective action.

Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios as set forth in the table below. At June 30, 2015 and 2014, the Company's and the Bank's ratios exceeded the regulatory requirements. Management believes that the Company and the Bank met all capital adequacy requirements to which they were subject as of June 30, 2015 and 2014. The Company's and the Bank's regulatory capital ratios are set forth below.

	Actual					Minimum Capital Requirements					Minimum To Be Well Capitalized Under Prompt Correction Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
	(Dollars in thousands)
June 30, 2015:
Common equity tier 1 capital to risk weighted assets:
Company	$	120,461		19.72	%	$	27,489		4.5	%	$	N/A		N/A
Bank		107,589		17.57	%		27,556		4.5	%		39,802		6.5	%
Total capital to risk weighted assets:
Company		122,424		20.04	%		48,872		8.0	%		N/A		N/A
Bank		111,340		18.18	%		48,994		8.0	%		61,243		10.0	%
Tier 1 capital to risk weighted assets:
Company		120,461		19.72	%		24,434		4.0	%		N/A		N/A
Bank		107,589		17.57	%		24,494		4.0	%		36,741		6.0	%
Tier 1 capital to average assets:
Company		120,461		14.42	%		33,415		4.0	%		N/A		N/A
Bank		107,589		12.87	%		33,439		4.0	%		41,798		5.0	%
June 30, 2014:
Total capital to risk weighted assets:
Company	$	120,818		23.69	%	$	40,808		8.0	%	$	N/A		N/A
Bank		103,160		20.12	%		41,027		8.0	%		51,284		10.0	%
Tier 1 capital to risk weighted assets:
Company		119,421		23.41	%		20,404		4.0	%		N/A		N/A
Bank		99,256		19.35	%		20,514		4.0	%		30,771		6.0	%
Tier 1 capital to average assets:
Company		119,421		15.90	%		30,049		4.0	%		N/A		N/A
Bank		99,256		13.22	%		30,028		4.0	%		37,536		5.0	%

The Bank may not declare or pay a cash dividend on, or repurchase, any of its capital stock from the Parent if the effect thereof would cause the capital of the Bank to be reduced below the capital requirements imposed by the regulatory authorities or if such amount exceeds the otherwise allowable amount under FRB rules.

In connection with the Merger, as part of the regulatory approval process, the Company and the Bank made certain commitments to the Federal Reserve, the most significant of which are (i) to maintain a Tier 1 leverage ratio of at least 10%, (ii) to maintain a total risk-based capital ratio of at least 15%, (iii) to limit purchased loans to 40% of total loans, (iv) to fund 100% of the Company's loans with core deposits (defined as non-maturity deposits and non-brokered insured time deposits), and (v) to hold non-owner occupied commercial real estate loans to within 300% of total risk-based capital. The Company and the Bank are currently in compliance with all commitments to the Federal Reserve.

- Definition

The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1G
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958577-112826

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1C
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958572-112826

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1E
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958574-112826

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1H
-URI http://asc.fasb.org/extlink&oid=35709795&loc=d3e65071-112826

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958569-112826

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958570-112826

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1F
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958575-112826

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958568-112826

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 505
-Section 50
-Paragraph 1D
-URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958573-112826

+ Details

Earnings Per Common Share

12 Months Ended

Jun. 30, 2015

Earnings Per Share (EPS)

Earnings Per Common Share

11. Earnings Per Common Share

EPS is computed by dividing net income allocated to common shareholders by the weighted average common shares outstanding. 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:

	Year ended June 30,
	2015		2014
	(Dollars in thousands, except share and per share data)
Net income from continuing operations	$	7,141	$	2,692
Preferred stock dividends and accretion		—		—

Net income from continuing operations available to common shareholders	$	7,141	$	2,692


Weighted average shares used in calculation of basic earnings per share		9,980,733		10,404,784
Incremental shares from assumed exercise of dilutive securities		—		—

Weighted average shares used in calculation of diluted earnings per share		9,980,733		10,404,784


Earnings per common share:
Income from continuing operations	$	0.72	$	0.26
Income from discontinued operations		0.00		0.00

Earnings per common share	$	0.72	$	0.26


Diluted earnings per common share:
Income from continuing operations	$	0.72	$	0.26
Income from discontinued operations		0.00		0.00

Diluted earnings per common share	$	0.72	$	0.26

For the years ended June 30, 2015 and 2014, 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.

	Year ended June 30,
	2015		2014
Stock options		1,059,721		1,149,131
Warrants		—		—

Income Taxes

12 Months Ended

Jun. 30, 2015

Income Taxes

Income Taxes

12. Income Taxes

The current and deferred components of income tax expense from continuing operations follows:

	Year Ended June 30,
	2015			2014
	(Dollars in thousands)
Current provision
Federal	$	4,282		$	3,518
State		898			733

Total current provision		5,180			4,251
Deferred benefit
Federal		(901	)		(2,482	)
State		(284	)		(190	)

Total deferred benefit		(1,185	)		(2,672	)

Total tax provision	$	3,995		$	1,579

The reconciliation between the statutory federal income tax rate of 34% and the effective tax rate on income from continuing operations follows:

	Year Ended June 30,
	2015			2014
	(Dollars in thousands)
Expected income tax expense at federal tax rate	$	3,786		$	1,450
State tax, net of federal tax benefit		379			359
Non-taxable BOLI income		(150	)		(153	)
Low-income housing tax credit		(118	)		(118	)
Other		98			41

Total tax provision	$	3,995		$	1,579

The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at June 30 follows:

	June 30,
	2015		2014
	(Dollars in thousands)
Deferred tax assets
Allowance for loan losses	$	722	$	501
Loan basis differential		3,781		3,198
Time deposit basis differential		4		68
Derivative basis differential		—		30
Capital lease		521		585
Compensation and benefits		809		460
Stock-based compensation		1,167		897
Unrealized loss on derivatives		472		225
Unrealized loss on available for sale securities		318		434
Interest on nonperforming loans		289		312
Limited partnerships		124		100
Other		777		733

Gross deferred tax asset		8,984		7,543
Less: valuation allowance		49		—

Total deferred tax assets		8,935		7,543
Deferred tax liabilities
Intangible assets		842		1,050
Prepaid expenses		368		238
Premises and equipment		1,231		1,443
Borrowings basis differential		2,869		2,811
Other		424		113

Total deferred tax liability		5,734		5,655

Net deferred tax asset	$	3,201	$	1,888

The net deferred tax asset was included in other assets in the accompanying balance sheet as of June 30, 2015 and June 30, 2014.

In accordance with ASC 740, deferred tax assets are to be reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The realization of the tax benefit depends upon the existence of sufficient taxable income within the carry-back and future periods.

The Company believes that it is more likely than not that the net deferred tax asset as of June 30, 2015, excluding the net deferred tax asset on capital losses, will be realized, based upon the ability to generate future taxable income as well as the availability of current and historical taxable income. The Company believes it is more likely than not that the net deferred tax asset related to capital losses will not be realized and has recorded a valuation allowance of $49 thousand at June 30, 2015, attributable to this net deferred tax asset.

For federal tax purposes, the Company has a $2.0 million reserve for loan losses which remains subject to recapture. If any portion of the reserve is used for purposes other than to absorb the losses for which it was established, approximately 150% of the amount actually used (limited to the amount of the reserve) would be subject to taxation in the year in which used. As the Company intends to use the reserve only to absorb loan losses, no provision has been made for potential liability that would result if 100% of the reserve were recaptured.

From time to time, the Internal Revenue Service (the "IRS") and state tax authorities may review or challenge specific tax positions taken by the Company in its ordinary course of business. The Company accounts for uncertainties in income taxes by reserving for tax positions that may not be upheld under examination. Increases to the Company's unrealized tax positions occur as a result of accruing for the unrecognized tax benefit as well the accrual of interest and penalties related to prior year positions. Decreases in the Company's unrealized tax positions occur as a result of the statute of limitation lapsing on prior year positions or settlements relating to outstanding positions. The Company reserves for uncertain tax positions, as well as related interest and penalties, as a component of income tax expense therefore affecting the effective tax rate. The following is a reconciliation of the beginning and ending amounts of the Company's uncertain tax positions:

	Tax Position		Interest and Penalties		Total
	(Dollars in thousands)
Balance, June 30, 2013	$	—	$	—	$	—
Reduction of tax positions for prior years		—		—		—
Increase for prior year tax position		101		12		113
Increase for current year tax position		—		—		—

Balance, June 30, 2014	$	101	$	12	$	113

Reduction of tax positions for prior years		—		—		—
Increase for prior year tax position		8		6		14
Increase for current year tax position		—		—		—

Balance, June 30, 2015	$	109	$	18	$	127

The Company is currently open to audit under the statute of limitations by the IRS and state taxing authorities for the fiscal 2012 tax return and forward.

Employee Benefit Plans	12 Months Ended
Employee Benefit Plans	Jun. 30, 2015
Employee Benefit Plans
Employee Benefit Plans	13. Employee Benefit Plans 401(k) Plan The Company offers a contributory 401(k) plan that is available to all full-time salaried and hourly-paid employees who have attained age 18, and completed 90 days of employment. Employees may contribute up to 100% of their base compensation, subject to IRS limitations. The Company will match 50% of each employee's contribution up to the first 6% contributed. For the years ended June 30, 2015 and 2014, the Company contributed $315 thousand and $341 thousand, respectively. Deferred Compensation The Company has individual deferred compensation agreements with five former senior officers. The Company recognized deferred compensation expense of $30 thousand and $80 thousand for the years ended June 30, 2015 and 2014, respectively. At June 30, 2015 and 2014, the Company's deferred compensation liability was $512 thousand and $485 thousand, respectively.

Stock-Based Compensation

12 Months Ended

Jun. 30, 2015

Stock-Based Compensation

Stock-Based Compensation

14. Stock-Based Compensation

At the 2012 annual meeting of shareholders, the Company's shareholders approved the Northeast Bancorp Amended and Restated 2010 Stock Option and Incentive Plan (the "Restated Plan"). The Restated Plan amends and restates the Northeast Bancorp 2010 Option and Incentive Plan (the "2010 Plan"). The key material differences between the 2010 Plan and the Restated Plan are:


	•	The maximum number of shares of common stock to be issued under the Restated Plan is increased by 600,000 shares, from 810,054 shares to 1,410,054 shares;
	•	The method by which shares subject to previously granted awards are added back to the Restated Plan has been revised so that the only shares added back to the Restated Plan are those subject to awards that are forfeited, canceled or otherwise terminated. The following shares shall not be added back to the Restated Plan: (i) shares tendered or held back upon exercise of an option or settlement of an award to cover the exercise price or tax withholding, and (ii) shares subject to a stock appreciation right that are not issued in connection with the stock settlement of the stock appreciation right upon exercise thereof.
	•	Minimum vesting periods are required for grants of restricted stock, restricted stock units and performance share awards; and
	•	The term of the Restated Plan will now expire on November 28, 2022, while grants of incentive options under the Restated Plan may be made until September 21, 2022.

A summary of stock option activity for the year ended June 30, 2015 follows:

	Shares			Weighted Average Exercise Price
Outstanding at beginning of year		1,143,195		$	12.44
Granted		20,000			9.19
Exercised		—			—
Forfeited		(103,474	)		10.77

Outstanding at end of year		1,059,721			12.58


Exercisable		305,595			13.81

	Shares			Weighted Average Grant Date Fair Value
Exercisable, beginning of year		223,706		$	3.74
Vested		95,570			3.15
Exercised		—			—
Forfeited or expired		(13,681	)		3.85

Exercisable, end of year		305,595			3.55

The fair values of options granted have been estimated on the date of grant using the Black-Scholes option-pricing model using the following weighted-average assumptions.

	Year Ended June 30,
	2015			2014
Assumptions:
Dividend yield		0.43	%		3.85	%
Expected life		7.0 years			7.0 years
Expected volatility		30.30	%		30.38	%
Risk-free interest rate		2.03	%		2.14	%
Weighted average fair value per option	$	3.11		$	1.95

The expected volatility is based on historical volatility. The risk-free interest rate is for periods within the expected life of the awards, and is based on the U.S. Treasury yield curve in effect at the time of the grant. The expected life is based on expected exercise experience.

During the year ended June 30, 2013, certain provisions of outstanding stock options with market-based conditions were modified. The options, consisting of 237,616 shares, were granted to three executives of the Company in December of 2010 and were to vest in three equal tranches upon the Company's common stock reaching applicable hurdle prices over specified time periods. The applicable hurdle price varies depending on the number of years that have elapsed since the date of grant. With respect to the first tranche, the applicable hurdle price was $27.86 for the period from December 29, 2010 through December 29, 2015; $31.34 for the period from December 29, 2015 through December 29, 2016; and $34.83 for the period from December 29, 2016 through December 29, 2017. With respect to the second tranche, the hurdle price was $31.34 for the period from December 29, 2010 through December 29, 2016; and $34.83 for the period from December 29, 2016 through December 29, 2017. With respect to the third tranche, the hurdle price was $34.83 for the period from December 29, 2010 through December 29, 2017.

The Company's Compensation Committee approved amending the hurdle prices as follows:

With respect to the first tranche, the applicable hurdle price is $16.43 for the period from December 29, 2010 through December 28, 2015; $18.58 for the period from December 29, 2015 through December 28, 2016; and $20.77 for the period from December 29, 2016 through December 28, 2017. With respect to the second tranche, the hurdle price is $18.58 for the period from December 29, 2010 through December 28, 2016; and $20.77 for the period from December 29, 2016 through December 28, 2017. With respect to the third tranche, the hurdle price is $20.77 for the period from December 29, 2010 through December 28, 2017.

Except as modified by this amendment, all other terms and conditions of each of the outstanding performance-based stock options, including the option exercise price of $13.93 per share, remain in full force and effect.

The incremental expense resulting from the modification was calculated as the difference between the stock option's fair value immediately before and after the modification using the Hull-White option pricing model and the following weighted-average assumptions:

Assumptions:
Dividend yield		3.72%
Expected life		7.8 years
Expected volatility		28.45% - 32.84%
Risk-free interest rate		0.07% - 1.54%
Incremental weighted average fair value per option		$0.52

The following table summarizes information about stock options outstanding at June 30, 2015.

Options Outstanding								Options Exercisable
(Dollars in thousands, except per share data)
Weighted Average Exercise Price		Number		Weighted Average Remaining Life		Aggregate Intrinsic Value		Weighted Average Exercise Price		Number		Weighted Average Remaining Life		Aggregate Intrinsic Value
	9.30		20,000		8.64 years		13		9.30		—		8.64 years		—
	9.38		295,176		7.59		168		9.38		13,224		7.59		8
	9.39		10,000		9.08		6		9.39		—		9.08		—
	12.63		32,500		6.58		—		12.63		10,833		6.58		—
	13.93		540,035		5.50		—		13.93		216,734		5.50		—
	14.52		162,010		5.50		—		14.52		64,804		5.50		—

	12.58		1,059,721		6.21		187		13.81		305,595		6.21		8

A summary of restricted stock activity for the year ended June 30, 2015 follows:

	Shares			Weighted Average Grant Date Fair Value
Unvested at beginning of period		55,814		$	9.33
Granted		174,000			9.35
Vested		(1,055	)		9.33
Forfeited		(16,749	)		9.39

Unvested at end of period		212,010			9.34

At June 30, 2015 and 2014, the Company has accrued a liability of $48 thousand representing the maximum cash payment for performance-based stock appreciation rights ("SARs") granted in the fiscal year ended June 30, 2011. The SARs expire in December of 2020.

Stock-based compensation totaled $705 thousand for the year ended June 30, 2015 and $686 thousand for the year ended June 30, 2014. The tax benefit related to stock-based compensation expensed totaled $253 thousand for the year ended June 30, 2015 and $258 thousand for the year ended June 30, 2014. The estimated amount and timing of future pre-tax stock-based compensation expense to be recognized are as follows.

	Year Ending June 30,
	2016		2017		2018		2019		2020		Total
	(Dollars in thousands)
Stock options	$	331	$	185	$	76	$	12	$	1	$	605
Restricted stock		400		400		363		312		84		1,559

	$	731	$	585	$	439	$	324	$	85	$	2,164

Commitments, Contingent Liabilities and Other Off-Balance Sheet Risks

12 Months Ended

Jun. 30, 2015

Commitments and Contingencies

Commitments, Contingent Liabilities and Other Off-Balance Sheet Risks

15. Commitments, Contingent Liabilities and Other Off-Balance Sheet Risks

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:

	June 30,
	2015		2014
	(Dollars in thousands)
Commitments to grant loans	$	24,966	$	14,282
Unfunded commitments under lines of credit		39,414		34,657
Standby letters of credit		60		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 aparty. 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 $37 thousand and $30 thousand recorded in other liabilities at June 30, 2015 and 2014, respectively.

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are issued to support private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. As of June 30, 2015 and 2014, the maximum potential amount of the Company's obligation was $60 thousand and $166 thousand, respectively, for financial and standby letters of credit. The Company's outstanding letters of credit generally have a term of less than one year. If a letter of credit is drawn upon, the Company may seek recourse through the customer's underlying line of credit. If the customer's line of credit is also in default, the Company may take possession of the collateral, if any, securing the line of credit.

Lease Obligations

The Company leases certain properties used in operations under terms of operating leases that include renewal options. The leases contain renewal options and escalation clauses which provide for increased rental expense as these leases expire. Rental expense under leases totaled $1.2 million for the year ended June 30, 2015 and $1.3 million for the year ended June 30, 2014.

Approximate future minimum lease payments over the remaining terms of the Company's leases at June 30, 2015 are as follows:

	Minimum lease payments
	(Dollars in thousands)
2016	$	1,303
2017		1,094
2018		1,081
2019		1,095
2020		1,113
Thereafter		3,651

Total	$	9,337

Legal Proceedings

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.

Other Comprehensive Income

12 Months Ended

Jun. 30, 2015

Other Comprehensive Income

Other Comprehensive Income

16. Other Comprehensive Income

The components of other comprehensive income follow:

	Year Ended June 30,
	2015									2014
	Pre-tax Amount			Tax Expense (Benefit)			After-tax Amount			Pre-tax Amount			Tax Expense (Benefit)			After-tax Amount
	(Dollars in thousands)
Change in net unrealized gain or loss on available-for-sale securities	$	442		$	116		$	326		$	1,358		$	462		$	896
Reclassification adjustment for net gains included in net income		—			—			—			—			—			—

Total available-for-sale securities		442			116			326			1,358			462			896

Change in accumulated loss on effective cash flow hedges		(529	)		(228	)		(301	)		(325	)		(110	)		(215	)
Reclassification adjustment for net gains included in net income		(49	)		(19	)		(30	)		(76	)		(26	)		(50	)

Total derivatives and hedging activities		(578	)		(247	)		(331	)		(401	)		(136	)		(265	)

Total other comprehensive income (loss)	$	(136	)	$	(131	)	$	(5	)	$	957		$	326		$	631

Accumulated other comprehensive loss is comprised of the following components:

	June 30, 2015			June 30, 2014
	(Dollars in thousands)
Unrealized loss on available-for-sale securities	$	(836	)	$	(1,278	)
Tax effect		318			434

Net-of-tax amount		(518	)		(844	)

Unrealized loss on cash flow hedges		(1,242	)		(664	)
Tax effect		472			225

Net-of-tax amount		(770	)		(439	)

Accumulated other comprehensive loss	$	(1,288	)	$	(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
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
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+ Details

Derivatives

12 Months Ended

Jun. 30, 2015

Derivatives and Hedging Activities

Derivatives

17. Derivatives

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 controls 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 June 30, 2015, the Company had posted cash collateral totaling $1.6 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 junior subordinated debt and FHLB advances is as follows.

June 30, 2015
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:
$	5,000	July 2013	July 2033	3 Mo. LIBOR		0.28	%		3.38	%		n/a			(472	)		(472	)	Other Liabilities
	5,000	July 2013	July 2028	3 Mo. LIBOR		0.28	%		3.23	%		n/a			(368	)		(368	)	Other Liabilities
	5,000	July 2013	July 2023	3 Mo. LIBOR		0.28	%		2.77	%		n/a			(208	)		(208	)	Other Liabilities
	Interest rate caps:
	6,000	October 2014	September 2019	3 Mo. LIBOR		n/a			n/a			2.50	%		(114	)		63		Other Assets
	10,000	March 2015	February 2020	3 Mo. LIBOR		n/a			n/a			2.50	%		(80	)		136		Other Assets

$	31,000													$	(1,242	)	$	(849	)

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 years ended June 30, 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 years ended June 30, 2105 and 2014 related to the balance sheet hedging of variable rate debt indicates that the hedges were effective.

During the periods presented, amounts recognized in income related to hedge ineffectiveness resulted from amortization of the non-zero fair value associated with the Company's single interest rate swap held at the time of the merger with FHB Formation LLC in December 2010. During the periods presented, amounts recognized in income related to amounts excluded from effectiveness testing resulted from amortization of the acquisition price of interest rate caps. The table below presents amounts recognized in income related to both hedge ineffectiveness and amounts excluded from effectiveness testing.

	Year Ended June 30,
	2015			2014
	(Dollars in thousands)
Interest income (expense):
Interest rate caps	$	(15	)	$	(24	)
Interest rate swap		64			100

Total	$	49		$	76

The Company does not expect to record interest income or interest expense related to interest rate swap or interest rate cap ineffectiveness in the next twelve months.

- 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

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+ Details

Fair Value Measurements

12 Months Ended

Jun. 30, 2015

Fair Value Measurements

Fair Value Measurements

18. 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 other 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:

Collaterally 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. Although some assumptions in determining fair value are based on standards used by market participants, some are based on unobservable inputs and therefore are classified as Level 3 within the fair value hierarchy.

Loan servicing rights— The fair value of the SBA and mortgage servicing rights is based on a valuation model that calculates the present value of estimated future net servicing income. Adjustments are only recorded when the discounted cash flows derived from the valuation model are less than the carrying value of the asset. Certain inputs are not observable, and therefore loan servicing rights are generally categorized as Level 3 within the fair value hierarchy.

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.

Accrued 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.

	June 30, 2015
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Assets
Securities available-for-sale:
U.S. Government agency securities	$	48,230	$	—	$	48,230	$	—
Agency mortgage-backed securities		53,678		—		53,678		—
Other assets—interest rate caps		199		—		199		—
Liabilities
Other liabilities—interest rate swaps	$	1,048	$	—	$	1,048	$	—

	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 swaps	$	714	$	—	$	714	$	—

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

	June 30, 2015
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Collateral dependent impaired loans	$	932	$	—	$	—	$	932
Real estate owned and other repossessed collateral		1,651		—		—		1,651
Loan servicing rights		1,123		—		—		1,123

	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
Loan servicing rights		300						300

The table below presents quantitative information about significant unobservable inputs (Level 3) for assets measured at fair value on a nonrecurring basis at the dates indicated.

	Fair Value
	June 30, 2015		June 30, 2014		Valuation Technique
	(Dollars in thousands)
Collateral dependent impaired loans	$	932	$	1,467	Appraisal of collateral(1)
Real estate owned and other repossessed collateral		1,651		1,991	Appraisal of collateral(1)
Loan servicing rights		1,123		300	Discounted cash flow(2)


(1)	Fair value is generally determined through independent appraisals of the underlying collateral. The Company may also use another available source of collateral assessment to determine a reasonable estimate of the fair value of the collateral. Appraisals may be adjusted by management for qualitative factors such as economic factors and estimated liquidation expenses. The range of these possible adjustments may vary.
(2)	Fair value is determined using a discounted cash flow model. The unobservable inputs include anticipated rate of loan prepayments and discount rates. The range of prepayment assumptions used was 6.08% to 13.14%. For discount rates, the range was 7.25% to 7.50%.

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

			Fair Value Measurements at June 30, 2015
	Carrying Amount		Fair Value Measurements at June 30, 2015
	Carrying Amount		Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial assets:
Cash and cash equivalents	$	89,850	$	89,850	$	89,850	$	—	$	—
Available-for-sale securities		101,908		101,908		—		101,908		—
Federal Home Loan Bank stock		4,102		4,102		—		4,102		—
Loans held for sale		9,035		9,035		—		9,035		—
Loans, net		610,211		613,896		—		—		613,896
Accrued interest receivable		1,335		1,335		—		1,335		—
Interest rate caps		199		199		—		199		—
Financial liabilities:
Deposits		674,759		675,285		—		675,285		—
FHLB advances		30,188		30,867		—		30,867		—
Wholesale repurchase agreements		10,037		10,098		—		10,098		—
Short-term borrowings		2,349		2,349		—		2,349		—
Capital lease obligation		1,368		1,448		—		1,448		—
Subordinated debentures		8,626		8,471		—		—		8,471
Interest rate swaps		1,048		1,048		—		1,048		—

			Fair Value Measurements at June 30, 2014
	Carrying Amount		Fair Value Measurements at June 30, 2014
	Carrying 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

Condensed Parent Information

12 Months Ended

Jun. 30, 2015

Condensed Financial Statements of Parent Company

Condensed Parent Information

19. Condensed Financial Statements of Parent Company

Condensed financial statements pertaining to Northeast Bancorp are as follows:

	June 30, 2015		June 30, 2014
	(Dollars in thousands)
Balance Sheets
Assets:
Cash	$	13,251	$	19,547
Investment in subsidiary		109,275		100,949
Investment in common securities of affiliated trusts		496		496
Other assets		434		1,843

Total assets	$	123,456	$	122,835


Liabilities and Stockholders' Equity:
Junior subordinated debentures issued to affiliated trusts	$	8,626	$	8,440
Other liabilities		1,991		2,329

Total liabilities		10,617		10,769
Stockholders' equity		112,839		112,066

Total liabilities and stockholders' equity	$	123,456	$	122,835

	Year Ended June 30,
	2015			2014
	(Dollars in thousands)
Statements of Income
Income:
Dividends from banking subsidiary	$	—		$	—
Other income		14			13

Total income		14			13
Expenses:
Interest expense		718			764
General and administrative expenses		1,128			1,068

Total expenses		1,846			1,832

Loss before income taxes and equity in undistributed earnings of subsidiary		(1,832	)		(1,819	)
Income tax benefit		(684	)		(390	)

(Loss) income before equity in undistributed earnings of subsidiary		(1,148	)		(1,429	)
Equity in undistributed earnings of subsidiary		8,289			4,121

Net income	$	7,141		$	2,692

	Year Ended June 30,
	2015			2014
	(Dollars in thousands)
Statements of Cash Flows
Operating activities:
Net income	$	7,141		$	2,692
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization of fair value adjustment for borrowings		186			172
Stock-based compensation		705			686
Equity in undistributed earnings of subsidiary		(8,289	)		(4,121	)
Increase in other assets and liabilities		1,029			(503	)

Net cash provided by (used in) operating activities		772			(1,074	)

Investing activities:
Increase in investment of bank subsidiary		—			—

Net cash used in investing activities		—			—

Financing activities:
Repurchase of common stock		(6,666	)		(2,823	)
Dividends paid to stockholders		(402	)		(2,922	)

Net cash used in financing activities		(7,068	)		(5,745	)

Net decrease in cash		(6,296	)		(6,819	)
Cash, beginning of year		19,547			26,366

Cash, end of year	$	13,251		$	19,547

Discontinued Operations

12 Months Ended

Jun. 30, 2015

Discontinued Operations

Discontinued Operations

20. 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.

	Year Ended June 30,
	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
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1436-107760

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1510-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1020-107759

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e1012-107759

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=8077374&loc=d3e2443-110228

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2941-110230

+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Jun. 30, 2015

Summary of Significant Accounting Policies

Business Combination Accounting

Principles of Consolidation

Reclassifications

Certain previously reported amounts have been reclassified to conform to the current year's presentation.

Use of Estimates

Concentrations of Credit Risk

Cash and Cash Equivalents

Investment Securities

Security transactions are recorded on the trade date. Realized gains and losses are determined using the specific identification method and are recorded in non-interest income.

Federal Home Loan Bank Stock

Loans Held for Sale and Loan Servicing

Loans

Allowance for Loan Losses


	•	Levels and trends in delinquencies
	•	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 years ended June 30, 2015 or 2014.

Premises and Equipment

Intangible Assets

Real Estate Owned and Other Repossessed Collateral

Impairment of Long-Lived Assets

Bank Owned Life Insurance

Income Taxes

Stock-Based Compensation

Discontinued Operations

Comprehensive Income

Earnings Per Share

Derivatives

Transfer of Financial Assets

Segment Reporting

All of the Company's operations are considered by management to be aggregated in one reportable operating segment.

Recent Accounting Pronouncements

Securities Available-for-sale (Tables)

12 Months Ended

Jun. 30, 2015

Securities Available-for-Sale

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

	June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
U.S. Government agency securities	$	48,191	$	40	$	(1	)	$	48,230
Agency mortgage-backed securities		54,553		2		(877	)		53,678

	$	102,744	$	42	$	(878	)	$	101,908

	June 30, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair 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

	June 30, 2015
	Less than 12 Months					More than 12 Months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
	(Dollars in thousands)
U.S. Government agency securities	$	2,999	$	(1	)	$	—	$	—		$	2,999	$	(1	)
Agency mortgage-backed securities		10,295		(106	)		41,349		(771	)		51,644		(877	)

	$	13,294	$	(107	)	$	41,349	$	(771	)	$	54,643	$	(878	)

	June 30, 2014
	Less than 12 Months					More than 12 Months					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized 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 securities available-for-sale debt by contractual maturity

	Amortized Cost		Fair Value
	(Dollars in thousands)
Due within one year	$	36,117	$	36,142
Due after one year through five years		12,074		12,088
Due after five years through ten years		26,425		26,119
Due after ten years		28,128		27,559

	$	102,744	$	101,908

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

12 Months Ended

Jun. 30, 2015

Loans, Allowance for Loan Losses and Credit Quality

Schedule of composition of the Company's loan portfolio

	June 30, 2015						June 30, 2014
	Originated		Purchased		Total		Originated		Purchased		Total
	(Dollars in thousands)
Residential real estate	$	106,275	$	2,068	$	108,343	$	116,972	$	3,687	$	120,659
Home equity		24,326		—		24,326		27,975		—		27,975
Commercial real estate		148,425		200,251		348,676		116,617		199,481		316,098
Commercial business		122,860		273		123,133		41,518		282		41,800
Consumer		7,659		—		7,659		9,884		—		9,884

Total loans	$	409,545	$	202,592	$	612,137	$	312,966	$	203,450	$	516,416

Summary of past due and non-accrual loans

	June 30, 2015
	30 - 59 Days		60 - 89 Days		Past Due 90 Days or More-Still Accruing		Past Due 90 Days or More- Nonaccrual		Total Past Due		Total Current		Total Loans		Non- Accrual Loans
	(Dollars in thousands)
Originated portfolio:
Residential real estate	$	239	$	973	$	—	$	1,393	$	2,605	$	103,670	$	106,275	$	3,021
Home equity		9		—		—		11		20		24,306		24,326		11
Commercial real estate		300		—		—		704		1,004		147,421		148,425		994
Commercial business		—		—		—		2		2		122,858		122,860		2
Consumer		105		29		—		56		190		7,469		7,659		190

Total originated portfolio		653		1,002		—		2,166		3,821		405,724		409,545		4,218
Purchased portfolio:
Residential real estate		—		—		—		—		—		2,068		2,068		—
Commercial business		—		—		—		—		—		273		273		—
Commercial real estate		86		299		—		2,410		2,795		197,456		200,251		6,532

Total purchased portfolio		86		299		—		2,410		2,795		199,797		202,592		6,532

Total loans	$	739	$	1,301	$	—	$	4,576	$	6,616	$	605,521	$	612,137	$	10,750

	June 30, 2014
	30 - 59 Days		60 - 89 Days		Past Due 90 Days or More-Still Accruing		Past Due 90 Days or More- Nonaccrual		Total Past Due		Total Current		Total Loans		Non- Accrual 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

	Year ended June 30, 2015
	Residential Real Estate			Commercial Real Estate		Commercial Business			Consumer			Purchased		Unallocated		Total
	(Dollars in thousands)
Beginning balance	$	580		$	358	$	48		$	79		$	268	$	34	$	1,367
Provision		344			335		38			(37	)		15		22		717
Recoveries		24			1		34			21			—		—		80
Charge-offs		(207	)		—		(3	)		(28	)		—		—		(238	)

Ending balance	$	741		$	694	$	117		$	35		$	283	$	56	$	1,926

	Year ended June 30, 2014
	Residential Real Estate			Commercial Real Estate			Commercial Business			Consumer			Purchased		Unallocated			Total
	(Dollars in thousands)
Beginning balance	$	594		$	173		$	70		$	189		$	76	$	41		$	1,143
Provision		190			211			13			(66	)		190		(7	)		531
Recoveries		63			—			8			25			2		—			98
Charge-offs		(267	)		(26	)		(43	)		(69	)		—		—			(405	)

Ending balance	$	580		$	358		$	48		$	79		$	268	$	34		$	1,367

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

	June 30, 2015
	Residential Real Estate		Commercial Real Estate		Commercial Business		Consumer		Purchased		Unallocated		Total
	(Dollars in thousands)
Allowance for loan losses:
Individually evaluated	$	435	$	21	$	—	$	—	$	—	$	—	$	456
Collectively evaluated		306		673		117		35		—		56		1,187
ASC 310-30		—		—		—		—		283		—		283

Total	$	741	$	694	$	117	$	35	$	283	$	56	$	1,926


Loans:
Individually evaluated	$	4,095	$	2,381	$	2	$	253	$	—	$	—	$	6,731
Collectively evaluated		126,506		146,044		122,858		7,406		—		—		402,814
ASC 310-30		—		—		—		—		202,592		—		202,592

Total	$	130,601	$	148,425	$	122,860	$	7,659	$	202,592	$	—	$	612,137

	June 30, 2014
	Residential Real Estate		Commercial Real Estate		Commercial Business		Consumer		Purchased		Unallocated		Total
	(Dollars in thousands)
Allowance for loan losses:
Individually evaluated	$	190	$	84	$	—	$	6	$	—	$	—	$	280
Collectively evaluated		390		274		48		73		—		34		820
ASC 310-30		—		—		—		—		268		—		267

Total	$	580	$	358	$	48	$	79	$	268	$	34	$	1,367


Loans:
Individually evaluated	$	2,314	$	2,549	$	—	$	240	$	—	$	—	$	5,103
Collectively evaluated		142,633		114,068		41,518		9,644		—		—		307,863
ASC 310-30		—		—		—		—		203,450		—		203,450

Total	$	144,947	$	116,617	$	41,518	$	9,884	$	203,450	$	—	$	516,416

Schedule of Impaired Loans

	At June 30, 2015						For the Year Ended June 30, 2015
	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
	(Dollars in thousands)						(Dollars in thousands)
Impaired loans without a valuation allowance:
Originated:
Residential real estate	$	1,975	$	2,076	$	—	$	1,490	$	92
Consumer		253		262		—		226		80
Commercial real estate		1,505		1,510		—		1,436		71
Commercial business		2		2		—		1		1
Purchased:										—
Commercial real estate		7,673		9,606		—		5,265		249

Total		11,408		13,456		—		8,418		493
Impaired loans with a valuation allowance:
Originated:
Residential real estate		2,120		2,060		435		1,715		87
Consumer		—		—		—		20		17
Commercial real estate		876		870		21		1,029		59
Commercial business		—		—		—		—		—
Purchased:
Commercial real estate		1,208		1,644		260		1,549		41

Total		4,204		4,574		716		4,313		204

Total impaired loans	$	15,612	$	18,030	$	716	$	12,731	$	697

	At June 30, 2014						For the Year Ended June 30, 2014
	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
	(Dollars in thousands)						(Dollars in thousands)
Impaired loans without a valuation allowance:
Originated:
Residential real estate	$	1,005	$	1,081	$	—	$	1,038	$	41
Consumer		200		205		—		132		8
Commercial real estate		1,368		1,371		—		782		40
Commercial business		—		—		—		51		8
Purchased:
Commercial real estate		2,857		4,148		—		2,639		89

Total		5,430		6,805		—		4,642		186
Impaired loans with a valuation allowance:
Originated:
Residential real estate		1,309		1,278		190		1,323		65
Consumer		40		47		6		75		5
Commercial real estate		1,181		1,187		84		1,131		78
Commercial business		—		—		—		30		1
Purchased:
Commercial real estate		1,890		2,215		166		1,228		76

Total		4,420		4,727		446		3,787		225

Total impaired loans	$	9,850	$	11,532	$	446	$	8,429	$	411

Schedule of the Company's loans by risk rating

	June 30, 2015
	Originated Portfolio
	Commercial Real Estate		Commercial Business		Residential(1)		Purchased Portfolio		Total
	(Dollars in thousands)
Loans rated 1 - 6	$	142,321	$	122,829	$	8,049	$	190,193	$	463,392
Loans rated 7		4,417		31		634		5,628		10,710
Loans rated 8		1,687		—		429		6,771		8,887
Loans rated 9		—		—		23		—		23
Loans rated 10		—		—		—		—		—

	$	148,425	$	122,860	$	9,135	$	202,592	$	483,012

	June 30, 2014
	Originated Portfolio
	Commercial Real Estate		Commercial Business		Residential(1)		Purchased 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

	Year Ended June 30,
	2015				2014
	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
	(Dollars in thousands)
Extended maturity		7	$	1,934		5	$	2,082
Adjusted interest rate		9		430		2		118
Rate and maturity		6		211		6		306
Principal deferment		1		443		2		341
Court ordered concession		4		84		2		50
Other		—		—		2		171

		27	$	3,102		19	$	3,068

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

	Year Ended June 30,
	2015						2014
	Number of Contracts		Recorded Investment Pre-Modification		Recorded Investment Post-Modification		Number of Contracts		Recorded Investment Pre-Modification		Recorded Investment Post-Modification
	(Dollars in thousands)
Originated portfolio:
Residential real estate		17	$	1,223	$	1,223		4	$	164	$	164
Home equity		—		—		—		2		22		22
Commercial real estate		1		200		200		5		691		691
Commercial business		—		—		—		1		18		18
Consumer		6		51		51		4		144		144

Total originated portfolio		24		1,474		1,474		16		1,039		1,039
Purchased portfolio:
Commercial real estate		3		1,628		1,628		3		1,990		2,029

Total purchased portfolio		3		1,628		1,628		3		1,990		2,029

Total		27	$	3,102	$	3,102		19	$	3,029	$	3,068

Schedule of loans that have been modified during the past twelve months which have subsequently defaulted

	Year Ended June 30,
	2015				2014
	Number of Contracts		Recorded Investment		Number of Contracts		Recorded Investment
	(Dollars in thousands)
Residential		3	$	100		3	$	163
Consumer		—		—		1		10

		3	$	100		4	$	173

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

	June 30, 2015			June 30, 2014
	(Dollars in thousands)
Contractually required payments receivable	$	128,452		$	116,786
Nonaccretable difference		(2,042	)		(1,564	)

Cash flows expected to be collected		126,410			115,222
Accretable yield		(43,756	)		(35,399	)

Fair value of loans acquired	$	82,654		$	79,823

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

	June 30, 2015
	(Dollars in thousands)
Loans acquired during the period	$	357
Loans at end of period		6,127

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

	June 30, 2015			June 30, 2014
	(Dollars in thousands)
Beginning balance	$	109,040		$	108,251
Acquisitions		43,756			35,399
Accretion		(16,886	)		(15,433	)
Reclassifications from nonaccretable difference, net		157			791
Disposals and other changes		(24,618	)		(19,968	)

End balance	$	111,449		$	109,040

	June 30, 2015		June 30, 2014
	(Dollars in thousands)
Unpaid principal balance	$	235,716	$	239,376
Carrying amount		199,113		201,171

Premises and Equipment (Tables)

12 Months Ended

Jun. 30, 2015

Premises and Equipment

Schedule of premises and equipment

	June 30, 2015		June 30, 2014		Estimated Useful Life
	(Dollars in thousands)				(In years)
Land	$	804	$	940	n/a
Buildings		1,760		2,119	39
Assets recorded under capital lease		1,850		1,850	Term of lease
Leasehold and building improvements		3,051		2,330	5 - 39 (or term of lease, if shorter)
Furniture, fixtures and equipment		7,745		7,286	3 - 7

		15,210		14,525
Less accumulated depreciation		6,957		5,390

Net premises and equipment	$	8,253	$	9,135

Intangible Assets (Tables)

12 Months Ended

Jun. 30, 2015

Intangible Assets

Schedule of changes in the carrying amount of intangible assets

	June 30, 2015
	(Dollars in thousands)
Balance, June 30, 2013	$	3,544
Amortization		(746	)

Balance, June 30, 2014		2,798
Amortization		(589	)

Balance, June 30, 2015	$	2,209

Schedule of components of identifiable intangible assets

	June 30, 2015			June 30, 2014
	(Dollars in thousands)
Core Deposit Intangible:
Gross carrying amount	$	6,348		$	6,348
Accumulated amortization		(4,139	)		(3,550	)

	$	2,209		$	2,798

Schedule of estimated annual amortization expense associated with intangible assets

	June 30, 2015
	(Dollars in thousands)
2016	$	477
2017		432
2018		433
2019		433
2020		434

	$	2,209

Transfers and Servicing of Financial Assets (Tables)

12 Months Ended

Jun. 30, 2015

Mortgage Servicing Rights

Transfers and Servicing of Financial Assets

Schedule of servicing rights activity

	June 30, 2015
	(Dollars in thousands)
Balance, June 30, 2013	$	68
Additions		—
Disposals		—
Amortization		(24	)
Allowance Adjustment		20

Balance, June 30, 2014		64
Additions		—
Disposals		—
Amortization		(28	)
Allowance Adjustment		1

Balance, June 30, 2015	$	37

SBA

Transfers and Servicing of Financial Assets

Schedule of servicing rights activity

	June 30, 2015
	(Dollars in thousands)
Balance, June 30, 2013	$	116
Additions		138
Disposals		—
Amortization		(18	)
Allowance Adjustment		—

Balance, June 30, 2014		236
Additions		940
Disposals		—
Amortization		(80	)
Allowance Adjustment		(19	)

Balance, June 30, 2015	$	1,077

Deposits (Tables)

12 Months Ended

Jun. 30, 2015

Deposits

Schedule of composition of deposits

	June 30, 2015		June 30, 2014
	(Dollars in thousands)
Demand	$	60,383	$	50,140
NOW		64,289		63,648
Money market		168,527		83,901
Regular savings		35,845		34,692
Time certificates of less than $100 thousand		82,973		90,644
Other time certificates		262,742		251,304

	$	674.759	$	574,329

Schedule of maturities of time certificates

	June 30, 2015
	(Dollars in thousands)
2016	$	149,656
2017		101,195
2018		51,976
2019		28,249
2020		14,306
Thereafter		333

	$	345,715

Borrowings (Tables)

12 Months Ended

Jun. 30, 2015

Borrowings.

Summary of advances from the Federal Home Loan Bank of Boston

	Unpaid Principal Balance				Carrying Amount(1)				Weighted Average Interest Rate
Maturity By Fiscal Year	2015		2014		2015		2014		2015			2014
	(Dollars in thousands)
2016		15,000		—		15,000		—		0.38	%		—
2017		10,000		10,000		10,123		10,210		2.84	%		4.26	%
2018		5,000		5,000		5,065		5,091		1.43	%		4.29	%

	$	30,000	$	15,000	$	30,188	$	15,301		2.34	%		2.51	%


(1)	The difference between the carrying amount and the unpaid principal balance is the result of purchase accounting. The premium or discount is being amortized or accreted as interest expense over the instrument's contractual life.

Summary of wholesale repurchase agreements

	Unpaid Principal Balance				Carrying Amount(1)				Weighted Average Interest Rate
Maturity By Fiscal Year	2015		2014		2015		2014		2015			2014
	(Dollars in thousands)
2016		10,000		10,000		10,037		10,199		4.44	%		4.44	%

	$	10,000	$	10,000	$	10,037	$	10,199		4.44	%		4.44	%


(1)	The difference between the carrying amount and the unpaid principal balance is the result of purchase accounting. The premium or discount is being amortized or accreted as interest expense over the instrument's contractual life.

Schedule of outstanding capital lease obligations

	Capital Lease Obligation
	(Dollars in thousands)
2016	$	303
2017		306
2018		306
2019		306
2020		306
2021 and thereafter		25

		1,552
Imputed interest		(184	)

Capital lease obligation	$	1,368

Junior Subordinated Debentures Issued to Affiliated Trusts (Tables)

12 Months Ended

Jun. 30, 2015

Junior Subordinated Debentures Issued to Affiliated Trusts

Summary of Junior Subordinated Debentures issued by the Company

		Unpaid Principal Balance
						Carrying Amount(1)
	Maturity Date					Carrying Amount(1)
	Maturity Date	2015		2014		2015		2014
		(Dollars in thousands)
NBN Capital Trust II	March 30, 2034	$	3,093	$	3,093	$	1,835	$	1,804
NBN Capital Trust III	March 30, 2034		3,093		3,093		1,835		1,804
NBN Capital Trust IV	February 23, 2035		10,310		10,310		4,956		4,832

		$	16,496	$	16,496	$	8,626	$	8,440


(1)	The difference between the carrying amount and the unpaid principal balance is the result of purchase accounting. The premium or discount is being amortized or accreted as interest expense over the instrument's contractual life.

Capital and Regulatory Matters (Tables)

12 Months Ended

Jun. 30, 2015

Capital and Regulatory Matters

Schedule of Company's and Bank's regulatory capital ratios

	Actual					Minimum Capital Requirements					Minimum To Be Well Capitalized Under Prompt Correction Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
	(Dollars in thousands)
June 30, 2015:
Common equity tier 1 capital to risk weighted assets:
Company	$	120,461		19.72	%	$	27,489		4.5	%	$	N/A		N/A
Bank		107,589		17.57	%		27,556		4.5	%		39,802		6.5	%
Total capital to risk weighted assets:
Company		122,424		20.04	%		48,872		8.0	%		N/A		N/A
Bank		111,340		18.18	%		48,994		8.0	%		61,243		10.0	%
Tier 1 capital to risk weighted assets:
Company		120,461		19.72	%		24,434		4.0	%		N/A		N/A
Bank		107,589		17.57	%		24,494		4.0	%		36,741		6.0	%
Tier 1 capital to average assets:
Company		120,461		14.42	%		33,415		4.0	%		N/A		N/A
Bank		107,589		12.87	%		33,439		4.0	%		41,798		5.0	%
June 30, 2014:
Total capital to risk weighted assets:
Company	$	120,818		23.69	%	$	40,808		8.0	%	$	N/A		N/A
Bank		103,160		20.12	%		41,027		8.0	%		51,284		10.0	%
Tier 1 capital to risk weighted assets:
Company		119,421		23.41	%		20,404		4.0	%		N/A		N/A
Bank		99,256		19.35	%		20,514		4.0	%		30,771		6.0	%
Tier 1 capital to average assets:
Company		119,421		15.90	%		30,049		4.0	%		N/A		N/A
Bank		99,256		13.22	%		30,028		4.0	%		37,536		5.0	%

Earnings Per Common Share (Tables)

12 Months Ended

Jun. 30, 2015

Earnings Per Share (EPS)

Schedule of number of shares outstanding for basic and diluted EPS

	Year ended June 30,
	2015		2014
	(Dollars in thousands, except share and per share data)
Net income from continuing operations	$	7,141	$	2,692
Preferred stock dividends and accretion		—		—

Net income from continuing operations available to common shareholders	$	7,141	$	2,692


Weighted average shares used in calculation of basic earnings per share		9,980,733		10,404,784
Incremental shares from assumed exercise of dilutive securities		—		—

Weighted average shares used in calculation of diluted earnings per share		9,980,733		10,404,784


Earnings per common share:
Income from continuing operations	$	0.72	$	0.26
Income from discontinued operations		0.00		0.00

Earnings per common share	$	0.72	$	0.26


Diluted earnings per common share:
Income from continuing operations	$	0.72	$	0.26
Income from discontinued operations		0.00		0.00

Diluted earnings per common share	$	0.72	$	0.26

Schedule of average anti-dilutive options and warrants

	Year ended June 30,
	2015		2014
Stock options		1,059,721		1,149,131
Warrants		—		—

Income Taxes (Tables)

12 Months Ended

Jun. 30, 2015

Income Taxes

Schedule of current and deferred components of income tax expense from continuing operations

	Year Ended June 30,
	2015			2014
	(Dollars in thousands)
Current provision
Federal	$	4,282		$	3,518
State		898			733

Total current provision		5,180			4,251
Deferred benefit
Federal		(901	)		(2,482	)
State		(284	)		(190	)

Total deferred benefit		(1,185	)		(2,672	)

Total tax provision	$	3,995		$	1,579

Schedule of reconciliation between the statutory federal income tax rate and the effective tax rate on income from continuing operations

	Year Ended June 30,
	2015			2014
	(Dollars in thousands)
Expected income tax expense at federal tax rate	$	3,786		$	1,450
State tax, net of federal tax benefit		379			359
Non-taxable BOLI income		(150	)		(153	)
Low-income housing tax credit		(118	)		(118	)
Other		98			41

Total tax provision	$	3,995		$	1,579

Schedule of significant portions of the deferred tax assets and deferred tax liabilities

	June 30,
	2015		2014
	(Dollars in thousands)
Deferred tax assets
Allowance for loan losses	$	722	$	501
Loan basis differential		3,781		3,198
Time deposit basis differential		4		68
Derivative basis differential		—		30
Capital lease		521		585
Compensation and benefits		809		460
Stock-based compensation		1,167		897
Unrealized loss on derivatives		472		225
Unrealized loss on available for sale securities		318		434
Interest on nonperforming loans		289		312
Limited partnerships		124		100
Other		777		733

Gross deferred tax asset		8,984		7,543
Less: valuation allowance		49		—

Total deferred tax assets		8,935		7,543
Deferred tax liabilities
Intangible assets		842		1,050
Prepaid expenses		368		238
Premises and equipment		1,231		1,443
Borrowings basis differential		2,869		2,811
Other		424		113

Total deferred tax liability		5,734		5,655

Net deferred tax asset	$	3,201	$	1,888

Schedule of reconciliation of the beginning and ending amounts of uncertain tax positions

	Tax Position		Interest and Penalties		Total
	(Dollars in thousands)
Balance, June 30, 2013	$	—	$	—	$	—
Reduction of tax positions for prior years		—		—		—
Increase for prior year tax position		101		12		113
Increase for current year tax position		—		—		—

Balance, June 30, 2014	$	101	$	12	$	113

Reduction of tax positions for prior years		—		—		—
Increase for prior year tax position		8		6		14
Increase for current year tax position		—		—		—

Balance, June 30, 2015	$	109	$	18	$	127

Stock-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2015

Stock-Based Compensation

Stock Option Activity

	Shares			Weighted Average Exercise Price
Outstanding at beginning of year		1,143,195		$	12.44
Granted		20,000			9.19
Exercised		—			—
Forfeited		(103,474	)		10.77

Outstanding at end of year		1,059,721			12.58


Exercisable		305,595			13.81

	Shares			Weighted Average Grant Date Fair Value
Exercisable, beginning of year		223,706		$	3.74
Vested		95,570			3.15
Exercised		—			—
Forfeited or expired		(13,681	)		3.85

Exercisable, end of year		305,595			3.55

Information about Stock Options Outstanding

Options Outstanding								Options Exercisable
(Dollars in thousands, except per share data)
Weighted Average Exercise Price		Number		Weighted Average Remaining Life		Aggregate Intrinsic Value		Weighted Average Exercise Price		Number		Weighted Average Remaining Life		Aggregate Intrinsic Value
	9.30		20,000		8.64 years		13		9.30		—		8.64 years		—
	9.38		295,176		7.59		168		9.38		13,224		7.59		8
	9.39		10,000		9.08		6		9.39		—		9.08		—
	12.63		32,500		6.58		—		12.63		10,833		6.58		—
	13.93		540,035		5.50		—		13.93		216,734		5.50		—
	14.52		162,010		5.50		—		14.52		64,804		5.50		—

	12.58		1,059,721		6.21		187		13.81		305,595		6.21		8

Summary of restricted stock activity

	Shares			Weighted Average Grant Date Fair Value
Unvested at beginning of period		55,814		$	9.33
Granted		174,000			9.35
Vested		(1,055	)		9.33
Forfeited		(16,749	)		9.39

Unvested at end of period		212,010			9.34

Estimated Amount and Timing of Future Pre-tax Stock-based Compensation Expense

	Year Ending June 30,
	2016		2017		2018		2019		2020		Total
	(Dollars in thousands)
Stock options	$	331	$	185	$	76	$	12	$	1	$	605
Restricted stock		400		400		363		312		84		1,559

	$	731	$	585	$	439	$	324	$	85	$	2,164

Black-Scholes option-pricing model

Share-based Compensation Arrangement by Share-based Payment Award

Schedule of a option-pricing model weighted-average assumptions

	Year Ended June 30,
	2015			2014
Assumptions:
Dividend yield		0.43	%		3.85	%
Expected life		7.0 years			7.0 years
Expected volatility		30.30	%		30.38	%
Risk-free interest rate		2.03	%		2.14	%
Weighted average fair value per option	$	3.11		$	1.95

Hull-White option pricing model

Share-based Compensation Arrangement by Share-based Payment Award

Schedule of a option-pricing model weighted-average assumptions

Assumptions:
Dividend yield		3.72%
Expected life		7.8 years
Expected volatility		28.45% - 32.84%
Risk-free interest rate		0.07% - 1.54%
Incremental weighted average fair value per option		$0.52

Commitments, Contingent Liabilities and Other Off-Balance Sheet Risks (Tables)

12 Months Ended

Jun. 30, 2015

Commitments and Contingencies

Schedule of Financial Instruments with contract amounts that represent credit risk

	June 30,
	2015		2014
	(Dollars in thousands)
Commitments to grant loans	$	24,966	$	14,282
Unfunded commitments under lines of credit		39,414		34,657
Standby letters of credit		60		166

Schedule of approximate future minimum lease payments over the remaining terms of the Company's leases

	Minimum lease payments
	(Dollars in thousands)
2016	$	1,303
2017		1,094
2018		1,081
2019		1,095
2020		1,113
Thereafter		3,651

Total	$	9,337

Other Comprehensive Income (Tables)

12 Months Ended

Jun. 30, 2015

Other Comprehensive Income

Schedule of components of other comprehensive income (loss)

	Year Ended June 30,
	2015									2014
	Pre-tax Amount			Tax Expense (Benefit)			After-tax Amount			Pre-tax Amount			Tax Expense (Benefit)			After-tax Amount
	(Dollars in thousands)
Change in net unrealized gain or loss on available-for-sale securities	$	442		$	116		$	326		$	1,358		$	462		$	896
Reclassification adjustment for net gains included in net income		—			—			—			—			—			—

Total available-for-sale securities		442			116			326			1,358			462			896

Change in accumulated loss on effective cash flow hedges		(529	)		(228	)		(301	)		(325	)		(110	)		(215	)
Reclassification adjustment for net gains included in net income		(49	)		(19	)		(30	)		(76	)		(26	)		(50	)

Total derivatives and hedging activities		(578	)		(247	)		(331	)		(401	)		(136	)		(265	)

Total other comprehensive income (loss)	$	(136	)	$	(131	)	$	(5	)	$	957		$	326		$	631

Schedule of components of accumulated other comprehensive loss

	June 30, 2015			June 30, 2014
	(Dollars in thousands)
Unrealized loss on available-for-sale securities	$	(836	)	$	(1,278	)
Tax effect		318			434

Net-of-tax amount		(518	)		(844	)

Unrealized loss on cash flow hedges		(1,242	)		(664	)
Tax effect		472			225

Net-of-tax amount		(770	)		(439	)

Accumulated other comprehensive loss	$	(1,288	)	$	(1,283	)

Derivatives (Tables)

12 Months Ended

Jun. 30, 2015

Derivatives and Hedging Activities

Schedule of information pertaining to outstanding interest rate caps and swap agreements used to hedge junior subordinated debt and FHLB advances

June 30, 2015
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:
$	5,000	July 2013	July 2033	3 Mo. LIBOR		0.28	%		3.38	%		n/a			(472	)		(472	)	Other Liabilities
	5,000	July 2013	July 2028	3 Mo. LIBOR		0.28	%		3.23	%		n/a			(368	)		(368	)	Other Liabilities
	5,000	July 2013	July 2023	3 Mo. LIBOR		0.28	%		2.77	%		n/a			(208	)		(208	)	Other Liabilities
	Interest rate caps:
	6,000	October 2014	September 2019	3 Mo. LIBOR		n/a			n/a			2.50	%		(114	)		63		Other Assets
	10,000	March 2015	February 2020	3 Mo. LIBOR		n/a			n/a			2.50	%		(80	)		136		Other Assets

$	31,000													$	(1,242	)	$	(849	)

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	)

Schedule of amounts recognized in income related to both hedge ineffectiveness and amounts excluded from effectiveness testing

	Year Ended June 30,
	2015			2014
	(Dollars in thousands)
Interest income (expense):
Interest rate caps	$	(15	)	$	(24	)
Interest rate swap		64			100

Total	$	49		$	76

- 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

Fair Value Measurements (Tables)

12 Months Ended

Jun. 30, 2015

Fair Value Measurements

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

	June 30, 2015
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Assets
Securities available-for-sale:
U.S. Government agency securities	$	48,230	$	—	$	48,230	$	—
Agency mortgage-backed securities		53,678		—		53,678		—
Other assets—interest rate caps		199		—		199		—
Liabilities
Other liabilities—interest rate swaps	$	1,048	$	—	$	1,048	$	—

	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 swaps	$	714	$	—	$	714	$	—

Schedule of assets measured at fair value on a nonrecurring basis

	June 30, 2015
	Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Collateral dependent impaired loans	$	932	$	—	$	—	$	932
Real estate owned and other repossessed collateral		1,651		—		—		1,651
Loan servicing rights		1,123		—		—		1,123

	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
Loan servicing rights		300						300

Schedule of quantitative information about significant unobservable inputs (Level 3) for assets measured at fair value on a nonrecurring basis

	Fair Value
	June 30, 2015		June 30, 2014		Valuation Technique
	(Dollars in thousands)
Collateral dependent impaired loans	$	932	$	1,467	Appraisal of collateral(1)
Real estate owned and other repossessed collateral		1,651		1,991	Appraisal of collateral(1)
Loan servicing rights		1,123		300	Discounted cash flow(2)


(1)	Fair value is generally determined through independent appraisals of the underlying collateral. The Company may also use another available source of collateral assessment to determine a reasonable estimate of the fair value of the collateral. Appraisals may be adjusted by management for qualitative factors such as economic factors and estimated liquidation expenses. The range of these possible adjustments may vary.
(2)	Fair value is determined using a discounted cash flow model. The unobservable inputs include anticipated rate of loan prepayments and discount rates. The range of prepayment assumptions used was 6.08% to 13.14%. For discount rates, the range was 7.25% to 7.50%.

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

			Fair Value Measurements at June 30, 2015
	Carrying Amount		Fair Value Measurements at June 30, 2015
	Carrying Amount		Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial assets:
Cash and cash equivalents	$	89,850	$	89,850	$	89,850	$	—	$	—
Available-for-sale securities		101,908		101,908		—		101,908		—
Federal Home Loan Bank stock		4,102		4,102		—		4,102		—
Loans held for sale		9,035		9,035		—		9,035		—
Loans, net		610,211		613,896		—		—		613,896
Accrued interest receivable		1,335		1,335		—		1,335		—
Interest rate caps		199		199		—		199		—
Financial liabilities:
Deposits		674,759		675,285		—		675,285		—
FHLB advances		30,188		30,867		—		30,867		—
Wholesale repurchase agreements		10,037		10,098		—		10,098		—
Short-term borrowings		2,349		2,349		—		2,349		—
Capital lease obligation		1,368		1,448		—		1,448		—
Subordinated debentures		8,626		8,471		—		—		8,471
Interest rate swaps		1,048		1,048		—		1,048		—

			Fair Value Measurements at June 30, 2014
	Carrying Amount		Fair Value Measurements at June 30, 2014
	Carrying 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		—

Condensed Parent Information (Tables)

12 Months Ended

Jun. 30, 2015

Condensed Financial Statements of Parent Company

Condensed Financial Information Balance Sheet

	June 30, 2015		June 30, 2014
	(Dollars in thousands)
Balance Sheets
Assets:
Cash	$	13,251	$	19,547
Investment in subsidiary		109,275		100,949
Investment in common securities of affiliated trusts		496		496
Other assets		434		1,843

Total assets	$	123,456	$	122,835


Liabilities and Stockholders' Equity:
Junior subordinated debentures issued to affiliated trusts	$	8,626	$	8,440
Other liabilities		1,991		2,329

Total liabilities		10,617		10,769
Stockholders' equity		112,839		112,066

Total liabilities and stockholders' equity	$	123,456	$	122,835

Condensed Financial Information Statements of Income

	Year Ended June 30,
	2015			2014
	(Dollars in thousands)
Statements of Income
Income:
Dividends from banking subsidiary	$	—		$	—
Other income		14			13

Total income		14			13
Expenses:
Interest expense		718			764
General and administrative expenses		1,128			1,068

Total expenses		1,846			1,832

Loss before income taxes and equity in undistributed earnings of subsidiary		(1,832	)		(1,819	)
Income tax benefit		(684	)		(390	)

(Loss) income before equity in undistributed earnings of subsidiary		(1,148	)		(1,429	)
Equity in undistributed earnings of subsidiary		8,289			4,121

Net income	$	7,141		$	2,692

Condensed Financial Information Statements of Cash Flow

	Year Ended June 30,
	2015			2014
	(Dollars in thousands)
Statements of Cash Flows
Operating activities:
Net income	$	7,141		$	2,692
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization of fair value adjustment for borrowings		186			172
Stock-based compensation		705			686
Equity in undistributed earnings of subsidiary		(8,289	)		(4,121	)
Increase in other assets and liabilities		1,029			(503	)

Net cash provided by (used in) operating activities		772			(1,074	)

Investing activities:
Increase in investment of bank subsidiary		—			—

Net cash used in investing activities		—			—

Financing activities:
Repurchase of common stock		(6,666	)		(2,823	)
Dividends paid to stockholders		(402	)		(2,922	)

Net cash used in financing activities		(7,068	)		(5,745	)

Net decrease in cash		(6,296	)		(6,819	)
Cash, beginning of year		19,547			26,366

Cash, end of year	$	13,251		$	19,547

Discontinued Operations (Tables)

12 Months Ended

Jun. 30, 2015

Discontinued Operations

Summary of operations of the Company's investment brokerage division

	Year Ended June 30,
	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	)

Summary of Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2015 USD ($) agreement item	Jun. 30, 2014 USD ($)
Summary of Significant Accounting Policies
Investments in NBN Capital Trust affiliates	$ 496
Cash or deposits reserve balances	$ 4,400	$ 2,400
Number of agreements to repurchase \| agreement	0
Number of reportable operating segment \| item	1
Residential and consumer loans
Summary of Significant Accounting Policies
Maximum charge-off period	180 days

Securities Available-for-sale (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Securities Available-for-sale
Amortized Cost	$ 102,744	$ 115,159
Gross Unrealized Gains	42	34
Gross Unrealized Losses	(878)	(1,312)
Securities Available-for-sale, Fair Value	$ 101,908	113,881
Securities of any single issuer held whose book value exceeds specified percentage of stockholders' equity other than U. S. Government and federal agencies securities (in shares)	0
Specified percentage by which book value exceeds stockholders' equity of securities of any single issuer other than U. S. Government and federal agencies securities	10.00%
U.S. Government agency securities
Securities Available-for-sale
Amortized Cost	$ 48,191	48,415
Gross Unrealized Gains	40	31
Gross Unrealized Losses	(1)	(28)
Securities Available-for-sale, Fair Value	48,230	48,418
Agency mortgage-backed securities
Securities Available-for-sale
Amortized Cost	54,553	66,744
Gross Unrealized Gains	2	3
Gross Unrealized Losses	(877)	(1,284)
Securities Available-for-sale, Fair Value	$ 53,678	$ 65,463

Securities Available-for-sale (Details 2) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Securities Available-for-Sale
Number of securities sold	0	0
Investment securities at fair value pledged as collateral for borrowings	$ 12.4

Securities Available-for-sale (Details 3) $ in Thousands	12 Months Ended
Securities Available-for-sale (Details 3) $ in Thousands	Jun. 30, 2015 USD ($) item	Jun. 30, 2014 USD ($)
Securities Available-for-sale
Fair Value, Less than 12 Months	$ 13,294	$ 24,141
Unrealized Losses, Less than 12 Months	(107)	(28)
Fair Value, More than 12 Months	41,349	62,734
Unrealized Losses, More than 12 Months	(771)	(1,284)
Fair Value, Total Fair Value	54,643	86,875
Unrealized Losses, Total Unrealized Losses	(878)	(1,312)
Other-than-temporary impairment losses on securities	$ 0	0
Number of securities in a continuous loss position for greater than twelve months \| item	16
U.S. Government agency securities
Securities Available-for-sale
Fair Value, Less than 12 Months	$ 2,999	24,141
Unrealized Losses, Less than 12 Months	(1)	(28)
Fair Value, Total Fair Value	2,999	24,141
Unrealized Losses, Total Unrealized Losses	(1)	(28)
Agency mortgage-backed securities
Securities Available-for-sale
Fair Value, Less than 12 Months	10,295
Unrealized Losses, Less than 12 Months	(106)
Fair Value, More than 12 Months	41,349	62,734
Unrealized Losses, More than 12 Months	(771)	(1,284)
Fair Value, Total Fair Value	51,644	62,734
Unrealized Losses, Total Unrealized Losses	$ (877)	$ (1,284)

Securities Available-for-sale (Details 4) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Securities Available-for-Sale
Due within one year, Amortized Cost	$ 36,117
Due after one year through five years, Amortized Cost	12,074
Due after five years through ten years, Amortized Cost	26,425
Due after ten years, Amortized Cost	28,128
Securities Available-for-sale, Amortized Cost	102,744	$ 115,159
Due within one year, Fair Value	36,142
Due after one year through five years, Fair Value	12,088
Due after five years through ten years, Fair Value	26,119
Due after ten years, Fair Value	27,559
Securities Available-for-sale, Fair Value	$ 101,908	$ 113,881

Loans, Allowance for Loan Losses and Credit Quality (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable
Loans	$ 612,137	$ 516,416
Loans pledged as collateral with the FHLB for borrowings	131,300	187,600
SBA
Accounts, Notes, Loans and Financing Receivable
Loans	17,400
Residential
Accounts, Notes, Loans and Financing Receivable
Loans	108,343	120,659
Home equity
Accounts, Notes, Loans and Financing Receivable
Loans	24,326	27,975
Commercial real estate.
Accounts, Notes, Loans and Financing Receivable
Loans	348,676	316,098
Commercial business
Accounts, Notes, Loans and Financing Receivable
Loans	123,133	41,800
Consumer.
Accounts, Notes, Loans and Financing Receivable
Loans	7,659	9,884
Originated
Accounts, Notes, Loans and Financing Receivable
Loans	409,545	312,966
Originated \| SBA
Accounts, Notes, Loans and Financing Receivable
Loans	11,000
Originated \| Residential
Accounts, Notes, Loans and Financing Receivable
Loans	106,275	116,972
Originated \| Home equity
Accounts, Notes, Loans and Financing Receivable
Loans	24,326	27,975
Originated \| Commercial real estate.
Accounts, Notes, Loans and Financing Receivable
Loans	148,425	116,617
Originated \| Commercial real estate. \| SBA
Accounts, Notes, Loans and Financing Receivable
Loans	8,300
Originated \| Commercial business
Accounts, Notes, Loans and Financing Receivable
Loans	122,860	41,518
Originated \| Commercial business \| SBA
Accounts, Notes, Loans and Financing Receivable
Loans	2,700
Originated \| Consumer.
Accounts, Notes, Loans and Financing Receivable
Loans	7,659	9,884
Purchased
Accounts, Notes, Loans and Financing Receivable
Loans	202,592	203,450
Purchased \| Residential
Accounts, Notes, Loans and Financing Receivable
Loans	2,068	3,687
Purchased \| Commercial real estate.
Accounts, Notes, Loans and Financing Receivable
Loans	200,251	199,481
Purchased \| Commercial business
Accounts, Notes, Loans and Financing Receivable
Loans	$ 273	$ 282

Loans, Allowance for Loan Losses and Credit Quality (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable
30-59 Days	$ 739	$ 645
60-89 Days	1,301	895
Past Due 90 Days or More-Nonaccrual	4,576	4,366
Total Past Due	6,616	5,906
Total Current	605,521	510,510
Total loans	612,137	516,416
Non-Accrual Loans	10,750	7,325
Residential
Accounts, Notes, Loans and Financing Receivable
Total loans	108,343	120,659
Home equity
Accounts, Notes, Loans and Financing Receivable
Total loans	24,326	27,975
Commercial real estate.
Accounts, Notes, Loans and Financing Receivable
Total loans	348,676	316,098
Commercial business
Accounts, Notes, Loans and Financing Receivable
Total loans	123,133	41,800
Consumer.
Accounts, Notes, Loans and Financing Receivable
Total loans	7,659	9,884
Originated
Accounts, Notes, Loans and Financing Receivable
30-59 Days	653	645
60-89 Days	1,002	895
Past Due 90 Days or More-Nonaccrual	2,166	2,371
Total Past Due	3,821	3,911
Total Current	405,724	309,055
Total loans	409,545	312,966
Non-Accrual Loans	4,218	3,209
Originated \| Residential
Accounts, Notes, Loans and Financing Receivable
30-59 Days	239	222
60-89 Days	973	728
Past Due 90 Days or More-Nonaccrual	1,393	1,573
Total Past Due	2,605	2,523
Total Current	103,670	114,449
Total loans	106,275	116,972
Non-Accrual Loans	3,021	1,743
Originated \| Home equity
Accounts, Notes, Loans and Financing Receivable
30-59 Days	9	109
60-89 Days		7
Past Due 90 Days or More-Nonaccrual	11	120
Total Past Due	20	236
Total Current	24,306	27,739
Total loans	24,326	27,975
Non-Accrual Loans	11	160
Originated \| Commercial real estate.
Accounts, Notes, Loans and Financing Receivable
30-59 Days	300	126
60-89 Days		136
Past Due 90 Days or More-Nonaccrual	704	629
Total Past Due	1,004	891
Total Current	147,421	115,726
Total loans	148,425	116,617
Non-Accrual Loans	994	1,162
Originated \| Commercial business
Accounts, Notes, Loans and Financing Receivable
Past Due 90 Days or More-Nonaccrual	2
Total Past Due	2
Total Current	122,858	41,518
Total loans	122,860	41,518
Non-Accrual Loans	2	5
Originated \| Consumer.
Accounts, Notes, Loans and Financing Receivable
30-59 Days	105	188
60-89 Days	29	24
Past Due 90 Days or More-Nonaccrual	56	49
Total Past Due	190	261
Total Current	7,469	9,623
Total loans	7,659	9,884
Non-Accrual Loans	190	139
Purchased
Accounts, Notes, Loans and Financing Receivable
30-59 Days	86
60-89 Days	299
Past Due 90 Days or More-Nonaccrual	2,410	1,995
Total Past Due	2,795	1,995
Total Current	199,797	201,455
Total loans	202,592	203,450
Non-Accrual Loans	6,532	4,116
Purchased \| Residential
Accounts, Notes, Loans and Financing Receivable
Total Current	2,068	3,687
Total loans	2,068	3,687
Purchased \| Commercial real estate.
Accounts, Notes, Loans and Financing Receivable
30-59 Days	86
60-89 Days	299
Past Due 90 Days or More-Nonaccrual	2,410	1,995
Total Past Due	2,795	1,995
Total Current	197,456	197,486
Total loans	200,251	199,481
Non-Accrual Loans	6,532	4,116
Purchased \| Commercial business
Accounts, Notes, Loans and Financing Receivable
Total Current	273	282
Total loans	$ 273	$ 282

Loans, Allowance for Loan Losses and Credit Quality (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Financing Receivable, Allowance for Credit Losses
Beginning balance	$ 1,367	$ 1,143
Provision	717	531
Recoveries	80	98
Charge-offs	(238)	(405)
Ending balance	1,926	1,367
Purchased
Financing Receivable, Allowance for Credit Losses
Beginning balance	268	76
Provision	15	190
Recoveries		2
Ending balance	283	268
Residential Real Estate
Financing Receivable, Allowance for Credit Losses
Beginning balance	580	594
Provision	344	190
Recoveries	24	63
Charge-offs	(207)	(267)
Ending balance	741	580
Commercial Real Estate
Financing Receivable, Allowance for Credit Losses
Beginning balance	358	173
Provision	335	211
Recoveries	1
Charge-offs		(26)
Ending balance	694	358
Commercial Business.
Financing Receivable, Allowance for Credit Losses
Beginning balance	48	70
Provision	38	13
Recoveries	34	8
Charge-offs	(3)	(43)
Ending balance	117	48
Consumer
Financing Receivable, Allowance for Credit Losses
Beginning balance	79	189
Provision	(37)	(66)
Recoveries	21	25
Charge-offs	(28)	(69)
Ending balance	35	79
Unallocated
Financing Receivable, Allowance for Credit Losses
Beginning balance	34	41
Provision	22	(7)
Ending balance	$ 56	$ 34

Loans, Allowance for Loan Losses and Credit Quality (Details 4) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Allowance for loan losses:
Individually evaluated	$ 456	$ 280
Collectively evaluated	1,187	820
ASC 310-30	283	267
Total	1,926	1,367	$ 1,143
Loans:
Individually evaluated	6,731	5,103
Collectively evaluated	402,814	307,863
ASC 310-30	202,592	203,450
Total loans	612,137	516,416
Purchased
Allowance for loan losses:
ASC 310-30	283	268
Total	283	268	76
Loans:
ASC 310-30	202,592	203,450
Total loans	202,592	203,450
Residential Real Estate
Allowance for loan losses:
Individually evaluated	435	190
Collectively evaluated	306	390
Total	741	580	594
Loans:
Individually evaluated	4,095	2,314
Collectively evaluated	126,506	142,633
Total loans	130,601	144,947
Commercial Real Estate
Allowance for loan losses:
Individually evaluated	21	84
Collectively evaluated	673	274
Total	694	358	173
Loans:
Individually evaluated	2,381	2,549
Collectively evaluated	146,044	114,068
Total loans	148,425	116,617
Commercial Business.
Allowance for loan losses:
Collectively evaluated	117	48
Total	117	48	70
Loans:
Individually evaluated	2
Collectively evaluated	122,858	41,518
Total loans	122,860	41,518
Consumer
Allowance for loan losses:
Individually evaluated		6
Collectively evaluated	35	73
Total	35	79	189
Loans:
Individually evaluated	253	240
Collectively evaluated	7,406	9,644
Total loans	7,659	9,884
Unallocated
Allowance for loan losses:
Collectively evaluated	56	34
Total	56	$ 34	$ 41
SBA
Allowance for loan losses:
Total	282
Loans:
Total loans	$ 17,400

Loans, Allowance for Loan Losses and Credit Quality (Details 5) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Financing Receivable, Impaired
Recorded Investment, without a valuation allowance	$ 11,408	$ 5,430
Unpaid Principal Balance, without a valuation allowance	13,456	6,805
Average Recorded Investment, without a valuation allowance	8,418	4,642
Interest Income Recognized, without a valuation allowance	493	186
Recorded Investment, with a valuation allowance	4,204	4,420
Unpaid Principal Balance, with a valuation allowance	4,574	4,727
Related Allowance	716	446
Average Recorded Investment, with a valuation allowance	4,313	3,787
Interest Income Recognized, with a valuation allowance	204	225
Recorded Investment	15,612	9,850
Unpaid Principal Balance	18,030	11,532
Average Recorded Investment	12,731	8,429
Interest Income Recognized	697	411
Originated \| Residential Real Estate
Financing Receivable, Impaired
Recorded Investment, without a valuation allowance	1,975	1,005
Unpaid Principal Balance, without a valuation allowance	2,076	1,081
Average Recorded Investment, without a valuation allowance	1,490	1,038
Interest Income Recognized, without a valuation allowance	92	41
Recorded Investment, with a valuation allowance	2,120	1,309
Unpaid Principal Balance, with a valuation allowance	2,060	1,278
Related Allowance	435	190
Average Recorded Investment, with a valuation allowance	1,715	1,323
Interest Income Recognized, with a valuation allowance	87	65
Originated \| Consumer
Financing Receivable, Impaired
Recorded Investment, without a valuation allowance	253	200
Unpaid Principal Balance, without a valuation allowance	262	205
Average Recorded Investment, without a valuation allowance	226	132
Interest Income Recognized, without a valuation allowance	80	8
Recorded Investment, with a valuation allowance		40
Unpaid Principal Balance, with a valuation allowance		47
Related Allowance		6
Average Recorded Investment, with a valuation allowance	20	75
Interest Income Recognized, with a valuation allowance	17	5
Originated \| Commercial Real Estate
Financing Receivable, Impaired
Recorded Investment, without a valuation allowance	1,505	1,368
Unpaid Principal Balance, without a valuation allowance	1,510	1,371
Average Recorded Investment, without a valuation allowance	1,436	782
Interest Income Recognized, without a valuation allowance	71	40
Recorded Investment, with a valuation allowance	876	1,181
Unpaid Principal Balance, with a valuation allowance	870	1,187
Related Allowance	21	84
Average Recorded Investment, with a valuation allowance	1,029	1,131
Interest Income Recognized, with a valuation allowance	59	78
Originated \| Commercial Business.
Financing Receivable, Impaired
Recorded Investment, without a valuation allowance	2
Unpaid Principal Balance, without a valuation allowance	2
Average Recorded Investment, without a valuation allowance	1	51
Interest Income Recognized, without a valuation allowance	1	8
Average Recorded Investment, with a valuation allowance		30
Interest Income Recognized, with a valuation allowance		1
Purchased \| Commercial Real Estate
Financing Receivable, Impaired
Recorded Investment, without a valuation allowance	7,673	2,857
Unpaid Principal Balance, without a valuation allowance	9,606	4,148
Average Recorded Investment, without a valuation allowance	5,265	2,639
Interest Income Recognized, without a valuation allowance	249	89
Recorded Investment, with a valuation allowance	1,208	1,890
Unpaid Principal Balance, with a valuation allowance	1,644	2,215
Related Allowance	260	166
Average Recorded Investment, with a valuation allowance	1,549	1,228
Interest Income Recognized, with a valuation allowance	$ 41	$ 76

Loans, Allowance for Loan Losses and Credit Quality (Details 6) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Financing Receivable, Recorded Investment
Loan by risk rating	$ 483,012	$ 375,136
Loans rated 1- 6
Financing Receivable, Recorded Investment
Loan by risk rating	463,392	353,242
Loans rated 7
Financing Receivable, Recorded Investment
Loan by risk rating	10,710	14,485
Loans rated 8
Financing Receivable, Recorded Investment
Loan by risk rating	8,887	7,409
Loans rated 9
Financing Receivable, Recorded Investment
Loan by risk rating	23
Originated \| Commercial real estate.
Financing Receivable, Recorded Investment
Loan by risk rating	148,425	116,617
Originated \| Commercial business
Financing Receivable, Recorded Investment
Loan by risk rating	122,860	41,518
Originated \| Residential
Financing Receivable, Recorded Investment
Loan by risk rating	9,135	13,551
Originated \| Loans rated 1- 6 \| Commercial real estate.
Financing Receivable, Recorded Investment
Loan by risk rating	142,321	110,044
Originated \| Loans rated 1- 6 \| Commercial business
Financing Receivable, Recorded Investment
Loan by risk rating	122,829	41,271
Originated \| Loans rated 1- 6 \| Residential
Financing Receivable, Recorded Investment
Loan by risk rating	8,049	11,941
Originated \| Loans rated 7 \| Commercial real estate.
Financing Receivable, Recorded Investment
Loan by risk rating	4,417	4,880
Originated \| Loans rated 7 \| Commercial business
Financing Receivable, Recorded Investment
Loan by risk rating	31	46
Originated \| Loans rated 7 \| Residential
Financing Receivable, Recorded Investment
Loan by risk rating	634	940
Originated \| Loans rated 8 \| Commercial real estate.
Financing Receivable, Recorded Investment
Loan by risk rating	1,687	1,693
Originated \| Loans rated 8 \| Commercial business
Financing Receivable, Recorded Investment
Loan by risk rating		201
Originated \| Loans rated 8 \| Residential
Financing Receivable, Recorded Investment
Loan by risk rating	429	670
Originated \| Loans rated 9 \| Residential
Financing Receivable, Recorded Investment
Loan by risk rating	23
Purchased
Financing Receivable, Recorded Investment
Loan by risk rating	202,592	203,450
Purchased \| Loans rated 1- 6
Financing Receivable, Recorded Investment
Loan by risk rating	190,193	189,986
Purchased \| Loans rated 7
Financing Receivable, Recorded Investment
Loan by risk rating	5,628	8,619
Purchased \| Loans rated 8
Financing Receivable, Recorded Investment
Loan by risk rating	$ 6,771	$ 4,845

Loans, Allowance for Loan Losses and Credit Quality (Details 7) $ in Thousands	12 Months Ended
	Jun. 30, 2015 USD ($) contract	Jun. 30, 2014 USD ($) contract
Financing Receivable, Modifications
Number of Contracts \| contract	27	19
Recorded Investment \| $	$ 3,102	$ 3,068
Extended maturity
Financing Receivable, Modifications
Number of Contracts \| contract	7	5
Recorded Investment \| $	$ 1,934	$ 2,082
Adjusted interest rate
Financing Receivable, Modifications
Number of Contracts \| contract	9	2
Recorded Investment \| $	$ 430	$ 118
Rate and maturity
Financing Receivable, Modifications
Number of Contracts \| contract	6	6
Recorded Investment \| $	$ 211	$ 306
Principal deferment
Financing Receivable, Modifications
Number of Contracts \| contract	1	2
Recorded Investment \| $	$ 443	$ 341
Court ordered concession
Financing Receivable, Modifications
Number of Contracts \| contract	4	2
Recorded Investment \| $	$ 84	$ 50
Other
Financing Receivable, Modifications
Number of Contracts \| contract		2
Recorded Investment \| $		$ 171

Loans, Allowance for Loan Losses and Credit Quality (Details 8) $ in Thousands	12 Months Ended
	Jun. 30, 2015 USD ($) contract	Jun. 30, 2014 USD ($) contract
Financing Receivable, Modifications
Number of Contracts \| contract	27	19
Recorded Investment Pre-Modification	$ 3,102	$ 3,029
Recorded Investment Post-Modification	$ 3,102	$ 3,068
Number of Contracts - Defaulted \| contract	3	4
Recorded Investment - Defaulted	$ 100	$ 173
Residential
Financing Receivable, Modifications
Number of Contracts - Defaulted \| contract	3	3
Recorded Investment - Defaulted	$ 100	$ 163
Consumer.
Financing Receivable, Modifications
Number of Contracts - Defaulted \| contract		1
Recorded Investment - Defaulted		$ 10
Originated
Financing Receivable, Modifications
Number of Contracts \| contract	24	16
Recorded Investment Pre-Modification	$ 1,474	$ 1,039
Recorded Investment Post-Modification	$ 1,474	$ 1,039
Originated \| Residential
Financing Receivable, Modifications
Number of Contracts \| contract	17	4
Recorded Investment Pre-Modification	$ 1,223	$ 164
Recorded Investment Post-Modification	$ 1,223	$ 164
Originated \| Home equity
Financing Receivable, Modifications
Number of Contracts \| contract		2
Recorded Investment Pre-Modification		$ 22
Recorded Investment Post-Modification		$ 22
Originated \| Commercial real estate.
Financing Receivable, Modifications
Number of Contracts \| contract	1	5
Recorded Investment Pre-Modification	$ 200	$ 691
Recorded Investment Post-Modification	$ 200	$ 691
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	6	4
Recorded Investment Pre-Modification	$ 51	$ 144
Recorded Investment Post-Modification	$ 51	$ 144
Purchased
Financing Receivable, Modifications
Number of Contracts \| contract	3	3
Recorded Investment Pre-Modification	$ 1,628	$ 1,990
Recorded Investment Post-Modification	$ 1,628	$ 2,029
Purchased \| Commercial real estate.
Financing Receivable, Modifications
Number of Contracts \| contract	3	3
Recorded Investment Pre-Modification	$ 1,628	$ 1,990
Recorded Investment Post-Modification	$ 1,628	$ 2,029

Loans, Allowance for Loan Losses and Credit Quality (Details 9) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period
Contractually required payments receivable	$ 128,452	$ 116,786
Nonaccretable difference	(2,042)	(1,564)
Cash flows expected to be collected	126,410	115,222
Accretable yield	(43,756)	(35,399)
Fair value of loans acquired	82,654	79,823
Loans acquired during the period	357
Loans at end of period	6,127
Beginning balance	109,040	108,251
Acquisitions	43,756	35,399
Accretion	(16,886)	(15,433)
Reclassifications from nonaccretable difference, net	157	791
Disposals and other changes	(24,618)	(19,968)
End balance	111,449	109,040
Unpaid principal balance	235,716	239,376
Carrying amount	$ 199,113	201,171
Loans acquired that were not accounted for using the income recognition model		$ 0

Premises and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Premises and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Premises and Equipment
Gross premises and equipment	$ 15,210	$ 14,525
Less accumulated depreciation	6,957	5,390
Net premises and equipment	8,253	9,135
Depreciation and amortization of premises and equipment included in occupancy and equipment expense	1,700	2,000
Land
Premises and Equipment
Gross premises and equipment	804	940
Buildings
Premises and Equipment
Gross premises and equipment	$ 1,760	2,119
Estimated useful life	39 years
Assets recorded under capital lease
Premises and Equipment
Gross premises and equipment	$ 1,850	1,850
Leasehold and building improvements
Premises and Equipment
Gross premises and equipment	$ 3,051	2,330
Leasehold and building improvements \| Minimum
Premises and Equipment
Estimated useful life	5 years
Leasehold and building improvements \| Maximum
Premises and Equipment
Estimated useful life	39 years
Furniture, fixtures and equipment
Premises and Equipment
Gross premises and equipment	$ 7,745	$ 7,286
Furniture, fixtures and equipment \| Minimum
Premises and Equipment
Estimated useful life	3 years
Furniture, fixtures and equipment \| Maximum
Premises and Equipment
Estimated useful life	7 years

Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Identifiable Intangibles
Amortization	$ (589)	$ (746)
Balance at the end of period	$ 2,209
Core Deposit Intangible
Changes in the carrying amount of intangible assets
Amortization period	9 years 6 months	9 years 6 months
Identifiable Intangibles
Balance at the beginning of period	$ 2,798	$ 3,544
Amortization	(589)	(746)
Balance at the end of period	$ 2,209	$ 2,798

Intangible Assets (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Components of identifiable intangible assets
Net carrying amount	$ 2,209
Estimated annual amortization expense associated with intangible assets
2016	477
2017	432
2018	433
2019	433
2020	434
Net carrying amount	2,209
Core Deposit Intangible
Components of identifiable intangible assets
Gross carrying amount	6,348	$ 6,348
Accumulated amortization	(4,139)	(3,550)
Net carrying amount	2,209	2,798	$ 3,544
Estimated annual amortization expense associated with intangible assets
Net carrying amount	$ 2,209	$ 2,798	$ 3,544

Transfers and Servicing of Financial Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Transfers and Servicing of Financial Assets
Loans sold in secondary markets	$ 23,260	$ 9,305
Contractual specified servicing fees	471	521
Mortgage Servicing Rights
Transfers and Servicing of Financial Assets
Loans sold in secondary markets	101,300	88,000
Loans serviced for others	$ 108,400	82,000
Weighted average discount rate	7.50%
Weighted average prepayment speed assumption	13.14%
Activity of servicing assets
Balance at the beginning	$ 64	68
Amortization	(28)	(24)
Allowance Adjustment	1	20
Balance at the end	37	64
SBA
Transfers and Servicing of Financial Assets
Loans sold in secondary markets	22,200	3,600
Loans serviced for others	53,500	37,800
Activity of servicing assets
Balance at the beginning	236	116
Additions	940	138
Amortization	(80)	(18)
Allowance Adjustment	(19)
Balance at the end	$ 1,077	$ 236
SBA \| Minimum
Transfers and Servicing of Financial Assets
Weighted average prepayment speed assumption	6.08%
SBA \| Maximum
Transfers and Servicing of Financial Assets
Weighted average prepayment speed assumption	7.25%

Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Composition of deposits
Demand	$ 60,383	$ 50,140
NOW	64,289	63,648
Money market	168,527	83,901
Regular savings	35,845	34,692
Time certificates of less than $100 thousand	82,973	90,644
Other time certificates	262,742	251,304
Total deposits	674,759	574,329
Minimum measuring threshold denomination	250	250
Time deposits in denominations of $250 thousand or more	$ 569	$ 2,300

Deposits (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Scheduled maturities of time certificates
2016	$ 149,656
2017	101,195
2018	51,976
2019	28,249
2020	14,306
Thereafter	333
Total	$ 345,715	$ 341,948

Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Weighted average
Weighted Average Interest Rate
2016	0.38%
2017	2.84%	4.26%
2018	1.43%	4.29%
Total (as a percent)	2.34%	2.51%
Carrying amount of FHLB advances
Carrying Amount
2016	$ 15,000
2017	10,123	$ 10,210
2018	5,065	5,091
Total	30,188	15,301
Advances from FHLB Boston
Carrying Amount
2016	15,000
2017	10,000	10,000
2018	5,000	5,000
Total	30,000	$ 15,000
General disclosures
Unpaid principal balance of FHLB advances, subject to call provisions	10,000
Available line of credit arrangement with the FHLB	$ 45,700

Borrowings (Details 2) - USD ($) $ in Thousands	12 Months Ended
Borrowings (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Wholesale Repurchase Agreements
Carrying Amount	$ 10,037	$ 10,199
Capital lease obligation
Term of capital leases	15 years
Present value of the lease payments as a percentage of the fair value of the property	90.00%
Minimum lease payments over the remaining term of the lease and the outstanding capital lease obligation
2016	$ 303
2017	306
2018	306
2019	306
2020	306
2021 and thereafter	25
Total	1,552
Imputed interest	(184)
Capital lease obligation	$ 1,368	$ 1,558
Short-Term Borrowings
Weighted average interest rate on short-term borrowings (as a percent)	1.91%	1.35%
Securities sold under wholesale repurchase agreements
Wholesale Repurchase Agreements
Unpaid Principal Balance	$ 10,000	$ 10,000
Carrying Amount	$ 10,037	$ 10,199
Weighted Average Cost	4.44%	4.44%
Securities sold under wholesale repurchase agreements \| Maturities in year one
Wholesale Repurchase Agreements
Unpaid Principal Balance	$ 10,000	$ 10,000
Carrying Amount	$ 10,037	$ 10,199
Weighted Average Cost	4.44%	4.44%

Junior Subordinated Debentures Issued to Affiliated Trusts (Details) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Mar. 31, 2015 USD ($)	Oct. 31, 2014 USD ($)	Jun. 30, 2015 USD ($) derivative item $ / shares	Jun. 30, 2014 USD ($)	Jun. 30, 2010 USD ($)
Wholesale Repurchase Agreements
Carrying Amount of Junior Subordinated Debentures issued to affiliated trusts			$ 8,626	$ 8,440
Notional amount			$ 31,000	31,000
Interest rate caps \| Cash flow hedge
Wholesale Repurchase Agreements
Number of derivative instruments \| derivative			2
Notional amount	$ 10,000	$ 6,000			$ 6,000
NBN Capital Trust II Debenture maturing March 30, 2034 \| Interest rate caps \| Cash flow hedge
Wholesale Repurchase Agreements
Maturity term		5 years
NBN Capital Trust IV Debenture maturing February 23, 2035
Wholesale Repurchase Agreements
Variable interest rate basis			three month LIBOR
Spread on variable rate basis (as a percent)			1.89%
NBN Capital Trust IV Debenture maturing February 23, 2035 \| Interest rate caps \| Cash flow hedge
Wholesale Repurchase Agreements
Notional amount			$ 10,000
NBN Capital Trust IV Debenture maturing February 23, 2035 \| Interest rate swaps \| Cash flow hedge
Wholesale Repurchase Agreements
Notional amount					$ 10,000
NBN Capital Trust II and III Debentures maturing March 30, 2034
Wholesale Repurchase Agreements
Variable interest rate basis			three month LIBOR
Spread on variable rate basis (as a percent)			2.80%
NBN Capital Trust II and III Debentures maturing March 30, 2034 \| Interest rate caps \| Cash flow hedge
Wholesale Repurchase Agreements
Notional amount			$ 6,000
NBN Capital Trusts \| Interest rate caps \| Cash flow hedge
Wholesale Repurchase Agreements
Strike Rate (as a percent)			2.50%
Percentage increase in three-month LIBOR for recognition of higher interest expense			200.00%
Trust preferred securities
Wholesale Repurchase Agreements
Number of private placement offerings in which securities are sold \| item			2
Unpaid Principal Balance of Private Trust Securities issued			$ 16,496	16,496
Trust preferred securities \| Junior Subordinated Debentures
Wholesale Repurchase Agreements
Carrying Amount of Junior Subordinated Debentures issued to affiliated trusts			8,626	8,440
Trust preferred securities \| NBN Capital Trust II Debenture maturing March 30, 2034
Wholesale Repurchase Agreements
Carrying Amount of Junior Subordinated Debentures issued to affiliated trusts			1,835	1,804
Trust preferred securities \| NBN Capital Trust III Debenture maturing March 30, 2034
Wholesale Repurchase Agreements
Carrying Amount of Junior Subordinated Debentures issued to affiliated trusts			1,835	1,804
Trust preferred securities \| NBN Capital Trust IV Debenture maturing February 23, 2035
Wholesale Repurchase Agreements
Carrying Amount of Junior Subordinated Debentures issued to affiliated trusts			4,956	4,832
NBN Capital Trust II
Wholesale Repurchase Agreements
Common securities of trust			93
NBN Capital Trust II \| Trust preferred securities
Wholesale Repurchase Agreements
Unpaid Principal Balance of Private Trust Securities issued			$ 3,093	3,093
Contractual Rate of Private Trust Securities issued (as a percent)			3.26%
Liquidation amount per Preferred Security \| $ / shares			$ 1,000
NBN Capital Trust III
Wholesale Repurchase Agreements
Common securities of trust			$ 93
NBN Capital Trust III \| Interest rate caps \| Cash flow hedge
Wholesale Repurchase Agreements
Maturity term	5 years
NBN Capital Trust III \| Trust preferred securities
Wholesale Repurchase Agreements
Unpaid Principal Balance of Private Trust Securities issued			$ 3,093	3,093
Liquidation amount per Preferred Security \| $ / shares			$ 1,000
NBN Capital Trust IV
Wholesale Repurchase Agreements
Common securities of trust			$ 310
NBN Capital Trust IV \| Trust preferred securities
Wholesale Repurchase Agreements
Unpaid Principal Balance of Private Trust Securities issued			$ 10,310	$ 10,310
Contractual Rate of Private Trust Securities issued (as a percent)			2.36%
Liquidation amount per Preferred Security \| $ / shares			$ 1,000
NBN Capital Trust II and III \| NBN Capital Trusts \| Interest rate caps \| Cash flow hedge
Wholesale Repurchase Agreements
Strike Rate (as a percent)			2.50%

Capital and Regulatory Matters (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Additional disclosures
Percentage of loans funded with core deposits	100.00%
Minimum
Common equity tier 1 capital to risk weighted assets
Minimum Capital Requirements Ratio (as a percent)	15.00%
Tier 1 capital to average assets
Minimum Capital Requirements Ratio (as a percent)	10.00%
Additional disclosures
Tier 1 leverage ratio (as a percent)	10.00%
Total risk-based capital ratio (as a percent)	15.00%
Maximum
Additional disclosures
Purchased loans as a percentage of total loans	40.00%
Commercial real estate held as a percentage of total risk-based capital	300.00%
Northeast Bancorp
Common equity tier 1 capital to risk weighted assets
Actual Amount	$ 122,424	$ 120,818
Actual Ratio (as a percent)	20.04%	23.69%
Minimum Capital Requirements Amount	$ 48,872	$ 40,808
Tier 1 capital to risk weighted assets
Actual Amount	$ 120,461	$ 119,421
Actual Ratio (as a percent)	19.72%	23.41%
Minimum Capital Requirements Amount	$ 24,434	$ 20,404
Tier 1 capital to average assets
Actual Amount	$ 120,461	$ 119,421
Actual Ratio (as a percent)	14.42%	15.90%
Minimum Capital Requirements Amount	$ 33,415	$ 30,049
Northeast Bancorp \| Minimum
Common equity tier 1 capital to risk weighted assets
Minimum Capital Requirements Ratio (as a percent)	8.00%	8.00%
Tier 1 capital to risk weighted assets
Minimum Capital Requirements Ratio (as a percent)	4.00%	4.00%
Tier 1 capital to average assets
Minimum Capital Requirements Ratio (as a percent)	4.00%	4.00%
Additional disclosures
Tier 1 leverage ratio (as a percent)	4.00%	4.00%
Total risk-based capital ratio (as a percent)	8.00%	8.00%
Northeast Bancorp \| Voting common stock
Tier 1 capital to risk weighted assets
Actual Amount	$ 120,461
Actual Ratio (as a percent)	19.72%
Minimum Capital Requirements Amount	$ 27,489
Northeast Bancorp \| Voting common stock \| Minimum
Tier 1 capital to risk weighted assets
Minimum Capital Requirements Ratio (as a percent)	4.50%
Bank
Common equity tier 1 capital to risk weighted assets
Actual Amount	$ 111,340	$ 103,160
Actual Ratio (as a percent)	18.18%	20.12%
Minimum Capital Requirements Amount	$ 48,994	$ 41,027
Tier 1 capital to risk weighted assets
Actual Amount	$ 107,589	$ 99,256
Actual Ratio (as a percent)	17.57%	19.35%
Minimum Capital Requirements Amount	$ 24,494	$ 20,514
Tier 1 capital to average assets
Actual Amount	$ 107,589	$ 99,256
Actual Ratio (as a percent)	12.87%	13.22%
Minimum Capital Requirements Amount	$ 33,439	$ 30,028
Bank \| Minimum
Common equity tier 1 capital to risk weighted assets
Minimum Capital Requirements Ratio (as a percent)	8.00%	8.00%
Minimum To Be Well Capitalized Under Prompt Correction Action Provisions Amount	$ 61,243	$ 51,284
Minimum To Be Well Capitalized Under Prompt Correction Action Provisions Ratio (as a percent)	10.00%	10.00%
Tier 1 capital to risk weighted assets
Minimum Capital Requirements Ratio (as a percent)	4.00%	4.00%
Minimum To Be Well Capitalized Under Prompt Correction Action Provisions Amount	$ 36,741	$ 30,771
Minimum To Be Well Capitalized Under Prompt Correction Action Provisions Ratio (as a percent)	6.00%	6.00%
Tier 1 capital to average assets
Minimum Capital Requirements Ratio (as a percent)	4.00%	4.00%
Minimum To Be Well Capitalized Under Prompt Correction Action Provisions Amount	$ 41,798	$ 37,536
Minimum To Be Well Capitalized Under Prompt Correction Action Provisions Ratio (as a percent)	5.00%	5.00%
Additional disclosures
Tier 1 leverage ratio (as a percent)	4.00%	4.00%
Total risk-based capital ratio (as a percent)	8.00%	8.00%
Bank \| Voting common stock
Tier 1 capital to risk weighted assets
Actual Amount	$ 107,589
Actual Ratio (as a percent)	17.57%
Minimum Capital Requirements Amount	$ 27,556
Bank \| Voting common stock \| Minimum
Tier 1 capital to risk weighted assets
Minimum Capital Requirements Ratio (as a percent)	4.50%
Minimum To Be Well Capitalized Under Prompt Correction Action Provisions Amount	$ 39,802
Minimum To Be Well Capitalized Under Prompt Correction Action Provisions Ratio (as a percent)	6.50%

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share (EPS)
Net income	$ 7,141	$ 2,692
Net income from continuing operation available to common shareholders	$ 7,141	$ 2,692
Weighted average shares used in calculation of basic EPS	9,980,733	10,404,784
Weighted average shares used in calculation of diluted EPS	9,980,733	10,404,784
Earnings per common share:
Income from continuing operations (in dollars per share)	$ 0.72	$ 0.26
Income from discontinued operations (in dollars per share)	0.00	0.00
Net Income (in dollars per share)	0.72	0.26
Diluted earnings per common share:
Income from continuing operations (in dollars per share)	0.72	0.26
Income from discontinued operations (in dollars per share)	0.00	0.00
Net income (in dollars per share)	$ 0.72	$ 0.26

Earnings Per Common Share (Details 2) - shares	12 Months Ended
Earnings Per Common Share (Details 2) - shares	Jun. 30, 2015	Jun. 30, 2014
Stock options
Earnings Per Share
Anti-dilutive securities (in shares)	1,059,721	1,149,131

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Current provision
Federal	$ 4,282	$ 3,518
State	898	733
Total current provision	5,180	4,251
Total deferred benefit
Federal	(901)	(2,482)
State	(284)	(190)
Total deferred benefit	(1,185)	(2,672)
Total tax provision	$ 3,995	$ 1,579

Income Taxes (Details 2) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Income Taxes
Statutory federal income tax rate (as a percent)	34.00%
Reconciliation between the statutory federal income tax rate and the effective tax rate on income from continuing operations
Expected income tax expense at federal tax rate	$ 3,786	$ 1,450
State tax, net of federal tax benefit	379	359
Non-taxable BOLI income	(150)	(153)
Low-income housing tax credit	(118)	(118)
Other	98	41
Total tax provision	$ 3,995	$ 1,579

Income Taxes (Details 3) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details 3) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Deferred tax assets
Allowance for loan losses	$ 722	$ 501
Loan basis differential	3,781	3,198
Time deposit basis differential	4	68
Derivative basis differential		30
Capital lease	521	585
Compensation and benefits	809	460
Stock-based compensation	1,167	897
Unrealized loss on derivatives	472	225
Unrealized loss on available for sale securities	318	434
Interest on nonperforming loans	289	312
Limited partnerships	124	100
Other	777	733
Gross deferred tax asset	8,984	7,543
Less valuation allowance	49
Total deferred tax assets	8,935	7,543
Deferred tax liabilities
Intangible assets	842	1,050
Prepaid expenses	368	238
Premises and equipment	1,231	1,443
Borrowings basis differential	2,869	2,811
Other	424	113
Total deferred tax liability	5,734	5,655
Net deferred tax liability	3,201	1,888
Additional disclosures
Reserve for loan losses	$ 2,000
Percentage of amount actually used for purposes other than to absorb losses subject to taxation in the year in which used	150.00%
Amount of provision for potential liability that would result, if 100% of the reserve were recaptured	$ 0
Percentage of reserves recaptured	100.00%
Tax Position
Balance at beginning of the period	$ 101
Increase for prior year tax position	8	101
Balance at end of the period	109	101
Interest and Penalties
Balance at beginning of the period	12
Increase for prior year tax position	6	12
Balance at end of the period	18	12
Total
Balance at beginning of the period	113
Increase for prior year tax position	14	113
Balance at end of the period	$ 127	$ 113

Employee Benefit Plans (Details) $ in Thousands	12 Months Ended
Employee Benefit Plans (Details) $ in Thousands	Jun. 30, 2015 USD ($) item	Jun. 30, 2014 USD ($)
401(k) Plan
Eligible age for full-time salaried and hourly-paid employees under 401(k) plan	18 years
Completed employment required for full-time salaried and hourly-paid employees under 401(k) plan	90 days
Maximum employees contribution as a percentage of their base compensation	100.00%
Percentage of base compensation, matched 50% by employer	50.00%
Employer match of employee contributions of first 6% of base compensation (as a percent)	6.00%
Employer contributions	$ 315	$ 341
Deferred Compensation
Number of senior officers \| item	5
Deferred compensation expense	$ 30	80
Deferred compensation liability	$ 512	$ 485

Stock-Based Compensation (Details) - $ / shares	12 Months Ended
Stock-Based Compensation (Details) - $ / shares	Jun. 30, 2015	Jun. 30, 2012	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award
Outstanding at beginning of year, Shares	1,143,195
Granted, shares	20,000
Forfeited, shares	(103,474)
Outstanding at end of year, Shares	1,059,721
Options Exercisable, Shares	223,706		305,595
Options outstanding at beginning of year, Weighted Average Exercise Price (in dollars per share)	$ 12.44
Granted, Weighted Average Exercise Price	9.19
Forfeited, Weighted Average Exercise Price	10.77
Options outstanding at end of year, Weighted Average Exercise Price (in dollars per share)	$ 12.58
Options Exercisable, Weighted Average Exercise Price			$ 13.81
Shares
Exercisable, beginning of year (in shares)	223,706
Vested (in shares)	95,570
Forfeited or expired (in shares)	(13,681)
Exercisable, end of year (in shares)	305,595
Weighted Average Grant Date Fair Value
Exercisable, beginning of year (in dollars per share)	$ 3.74
Vested (in dollars per share)	3.15
Forfeited or expired (in dollars per share)	3.85
Exercisable, end of year (in dollars per share)	$ 3.55
2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number of shares authorized		810,054
Restated Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number of additional shares authorized		600,000
Number of shares authorized		1,410,054

Stock-Based Compensation (Details 2)	12 Months Ended
Stock-Based Compensation (Details 2)	Jun. 30, 2015 $ / shares shares	Jun. 30, 2014 $ / shares	Jun. 30, 2013 item $ / shares shares
Stock Awards
Granted, shares \| shares	20,000
Number of tranches in which options were granted \| item			3
Stock options with market-based conditions
Stock Awards
Granted, shares \| shares			237,616
Number of executives to whom options were granted \| item			3
Stock options with market-based conditions \| First tranche \| December 29, 2010 through December 29, 2015
Stock Awards
Applicable hurdle price (in dollar per share)			$ 27.86
Stock options with market-based conditions \| First tranche \| December 29, 2015 through December 29, 2016
Stock Awards
Applicable hurdle price (in dollar per share)			31.34
Stock options with market-based conditions \| First tranche \| December 29, 2016 through December 29, 2017
Stock Awards
Applicable hurdle price (in dollar per share)			34.83
Stock options with market-based conditions \| First tranche \| December 29, 2010 through December 28, 2015
Stock Awards
Amended hurdle price (in dollar per share)			16.43
Stock options with market-based conditions \| First tranche \| December 29, 2015 through December 28, 2016
Stock Awards
Amended hurdle price (in dollar per share)			18.58
Stock options with market-based conditions \| First tranche \| December 29, 2016 through December 28, 2017
Stock Awards
Amended hurdle price (in dollar per share)			20.77
Stock options with market-based conditions \| Second tranche \| December 29, 2016 through December 29, 2017
Stock Awards
Applicable hurdle price (in dollar per share)			34.83
Stock options with market-based conditions \| Second tranche \| December 29, 2010 through December 29, 2016
Stock Awards
Applicable hurdle price (in dollar per share)			31.34
Stock options with market-based conditions \| Second tranche \| December 29, 2016 through December 28, 2017
Stock Awards
Amended hurdle price (in dollar per share)			20.77
Stock options with market-based conditions \| Second tranche \| December 29, 2010 through December 28, 2016
Stock Awards
Amended hurdle price (in dollar per share)			18.58
Stock options with market-based conditions \| Third tranche \| December 29, 2010 through December 29, 2017
Stock Awards
Applicable hurdle price (in dollar per share)			34.83
Stock options with market-based conditions \| Third tranche \| December 29, 2010 through December 28, 2017
Stock Awards
Amended hurdle price (in dollar per share)			$ 20.77
Black-Scholes option-pricing model
Assumptions:
Dividend yield (as a percent)	0.43%	3.85%
Expected life	7 years	7 years
Expected volatility (as a percent)	30.30%	30.38%
Risk-free interest rate (as a percent)	2.03%	2.14%
Weighted average fair value per option (in dollar per share)	$ 3.11	$ 1.95
Hull-White option pricing model
Assumptions:
Dividend yield (as a percent)	3.72%
Expected life	7 years 9 months 18 days
Incremental weighted average fair value per option (in dollar per share)	$ 0.52
Stock Awards
Expected volatility, minimum (as a percent)	28.45%
Expected volatility, maximum (as a percent)	32.84%
Risk-free interest rate, minimum (as a percent)	0.07%
Risk-free interest rate, maximum (as a percent)	1.54%

Stock-Based Compensation (Details 3) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2015 USD ($) $ / shares shares
$9.30
Information by exercise price
Options outstanding at end of period, Weighted Average Exercise Price	$ 9.30
Options Outstanding Number \| shares	20,000
Outstanding Weighted Average Remaining Life	8 years 7 months 21 days
Outstanding Aggregate Intrinsic Value \| $	$ 13
Exercisable Weighted Average Exercise Price	$ 9.30
Exercisable Weighted Average Remaining Life	8 years 7 months 21 days
$9.38
Information by exercise price
Options outstanding at end of period, Weighted Average Exercise Price	$ 9.38
Options Outstanding Number \| shares	295,176
Outstanding Weighted Average Remaining Life	7 years 7 months 2 days
Outstanding Aggregate Intrinsic Value \| $	$ 168
Exercisable Weighted Average Exercise Price	$ 9.38
Options Exercisable Number \| shares	13,224
Exercisable Weighted Average Remaining Life	7 years 7 months 2 days
Exercisable Aggregate Intrinsic Value \| $	$ 8
$9.39
Information by exercise price
Options outstanding at end of period, Weighted Average Exercise Price	$ 9.39
Options Outstanding Number \| shares	10,000
Outstanding Weighted Average Remaining Life	9 years 29 days
Outstanding Aggregate Intrinsic Value \| $	$ 6
Exercisable Weighted Average Exercise Price	$ 9.39
Exercisable Weighted Average Remaining Life	9 years 29 days
$12.63
Information by exercise price
Options outstanding at end of period, Weighted Average Exercise Price	$ 12.63
Options Outstanding Number \| shares	32,500
Outstanding Weighted Average Remaining Life	6 years 6 months 29 days
Exercisable Weighted Average Exercise Price	$ 12.63
Options Exercisable Number \| shares	10,833
Exercisable Weighted Average Remaining Life	6 years 6 months 29 days
$13.93
Information by exercise price
Options outstanding at end of period, Weighted Average Exercise Price	$ 13.93
Options Outstanding Number \| shares	540,035
Outstanding Weighted Average Remaining Life	5 years 6 months
Exercisable Weighted Average Exercise Price	$ 13.93
Options Exercisable Number \| shares	216,734
Exercisable Weighted Average Remaining Life	5 years 6 months
$14.52
Information by exercise price
Options outstanding at end of period, Weighted Average Exercise Price	$ 14.52
Options Outstanding Number \| shares	162,010
Outstanding Weighted Average Remaining Life	5 years 6 months
Exercisable Weighted Average Exercise Price	$ 14.52
Options Exercisable Number \| shares	64,804
Exercisable Weighted Average Remaining Life	5 years 6 months
$12.58
Information by exercise price
Options outstanding at end of period, Weighted Average Exercise Price	$ 12.58
Options Outstanding Number \| shares	1,059,721
Outstanding Weighted Average Remaining Life	6 years 2 months 16 days
Outstanding Aggregate Intrinsic Value \| $	$ 187
Exercisable Weighted Average Exercise Price	$ 13.81
Options Exercisable Number \| shares	305,595
Exercisable Weighted Average Remaining Life	6 years 2 months 16 days
Exercisable Aggregate Intrinsic Value \| $	$ 8

Stock-Based Compensation (Details 4) - Restricted stock	12 Months Ended
Stock-Based Compensation (Details 4) - Restricted stock	Jun. 30, 2015 $ / shares shares
Shares
Unvested at beginning of period (in shares) \| shares	55,814
Granted (in shares) \| shares	174,000
Vested (in shares) \| shares	(1,055)
Forfeited (in shares) \| shares	(16,749)
Unvested at end of period (in shares) \| shares	212,010
Weighted Average Grant-Date Fair Value
Unvested at beginning of period (in dollars per share) \| $ / shares	$ 9.33
Granted (in dollars per share) \| $ / shares	9.35
Vested (in dollars per share) \| $ / shares	9.33
Forfeited (in dollars per share) \| $ / shares	9.39
Unvested at end of period (in dollars per share) \| $ / shares	$ 9.34

Stock-Based Compensation (Details 5) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 705	$ 686
Tax benefit related to stock-based compensation expense	253	258
2016	731
2017	585
2018	439
2019	324
2020	85
Total	2,164
Stock appreciation rights
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	48	$ 48
Stock options.
Share-based Compensation Arrangement by Share-based Payment Award
2016	331
2017	185
2018	76
2019	12
2020	1
Total	605
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award
2016	400
2017	400
2018	363
2019	312
2020	84
Total	$ 1,559

Commitments, Contingent Liabilities and Other Off-Balance Sheet Risks (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Commitments and contingencies
Allowance for possible losses on commitments and unfunded loans	$ 37	$ 30
Commitments to grant loans
Commitments and contingencies
Financial instruments which represent credit risk	24,966	14,282
Unfunded commitments under lines of credit
Commitments and contingencies
Financial instruments which represent credit risk	39,414	34,657
Standby letters of credit
Commitments and contingencies
Financial instruments which represent credit risk	$ 60	$ 166

Commitments, Contingent Liabilities and Other Off-Balance Sheet Risks (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Contingencies
Term of outstanding letters of credit	15 years
Lease Obligations
Rental expense	$ 1,200	$ 1,300
Minimum lease payments
2016	1,303
2017	1,094
2018	1,081
2019	1,095
2020	1,113
Thereafter	3,651
Total	$ 9,337
Maximum \| Letter of credit
Contingencies
Term of outstanding letters of credit	1 year

Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Other Comprehensive Income
Change in net unrealized gain or loss on available-for-sale securities, Pre-tax Amount	$ 442	$ 1,358
Total available-for-sale securities, Pre-tax Amount	442	1,358
Change in accumulated loss on effective cash flow hedges, Pre-tax Amount	(529)	(325)
Reclassification adjustment for net gains included in net income, Pre-tax Amount	(49)	(76)
Total derivatives and hedging activities, Pre-tax Amount	(578)	(401)
Total other comprehensive loss, Pre-tax Amount	(136)	957
Change in net unrealized gain or loss on available-for-sale securities, Tax Expense (Benefit)	116	462
Total available-for-sale securities, Tax Expense (Benefit)	116	462
Change in accumulated loss on effective cash flow hedges, Tax Expense (Benefit)	(228)	(110)
Reclassification adjustment for net gains included in net income, Tax Expense (Benefit)	(19)	(26)
Total derivatives and hedging activities, Tax Expense (Benefit)	(247)	(136)
Total other comprehensive income (loss), Tax Expense (Benefit)	(131)	326
Change in net unrealized gain or loss on available-for-sale securities, After-tax Amount	326	896
Total available-for-sale securities, After-tax Amount	326	896
Change in accumulated gain or loss on effective cash flow hedges, After-tax Amount	(301)	(215)
Reclassification adjustment for net gains included in net income, After-tax Amount	(30)	(50)
Total derivatives and hedging activities, After-tax Amount	(331)	(265)
Total other comprehensive income (loss), After-tax Amount	$ (5)	$ 631

Other Comprehensive Income (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Accumulated other comprehensive loss components
Net-of tax amount	$ (1,288)	$ (1,283)
Unrealized loss on available-for-sale securities
Accumulated other comprehensive loss components
Before tax	(836)	(1,278)
Tax effect	318	434
Net-of tax amount	(518)	(844)
Unrealized loss on cash flow hedges
Accumulated other comprehensive loss components
Before tax	(1,242)	(664)
Tax effect	472	225
Net-of tax amount	$ (770)	$ (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

Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
Derivatives (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Derivatives and Hedging Activities
Cash collateral balance	$ 1,600
Derivatives and Hedging Activities
Notional amount	31,000	$ 31,000
Unrealized Loss	(1,242)	(664)
Fair Value of liabilities	849
Fair Value		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)	0.28%	0.23%
Pay Rate (as a percent)	3.38%	3.38%
Unrealized Loss	$ (472)	$ (216)
Fair Value of liabilities	472	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)	0.28%	0.23%
Pay Rate (as a percent)	3.23%	3.23%
Unrealized Loss	$ (368)	$ (200)
Fair Value of liabilities	368	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)	0.28%	0.23%
Pay Rate (as a percent)	2.77%	2.77%
Unrealized Loss	$ (208)	$ (133)
Fair Value of liabilities	208	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	$ (114)
Fair Value of assets	63
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	$ (80)
Fair Value of assets	$ 136
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)

Derivatives (Details 2) $ in Thousands	12 Months Ended
Derivatives (Details 2) $ in Thousands	Jun. 30, 2015 USD ($) derivative	Jun. 30, 2014 USD ($) derivative
Derivatives and Hedging Activities
Interest income (expense) on hedge ineffectiveness and excluded from effectiveness testing	$ 49	$ 76
Interest rate caps
Derivatives and Hedging Activities
Number of derivative agreements terminated prior to maturity \| derivative	0	0
Interest income (expense) on hedge ineffectiveness and excluded from effectiveness testing	$ (15)	$ (24)
Interest rate swaps
Derivatives and Hedging Activities
Number of derivative agreements terminated prior to maturity \| derivative	0	0
Interest income (expense) on hedge ineffectiveness and excluded from effectiveness testing	$ 64	$ 100

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 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	101,908	$ 113,881
Other liabilities	849
U.S. Government agency securities
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	48,230	48,418
Agency mortgage-backed securities
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	53,678	65,463
Level 2
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	101,908	113,881
Level 2 \| Interest rate caps
Fair Value Assets And Liabilities Measurements
Other assets	199
Level 2 \| Interest rate swaps
Fair Value Assets And Liabilities Measurements
Other liabilities	1,048	714
Recurring \| Interest rate caps
Fair Value Assets And Liabilities Measurements
Other assets	199
Recurring \| Interest rate swaps
Fair Value Assets And Liabilities Measurements
Other liabilities	1,048	714
Recurring \| U.S. Government agency securities
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	48,230	48,418
Recurring \| Agency mortgage-backed securities
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	53,678	65,463
Recurring \| Level 2 \| Interest rate caps
Fair Value Assets And Liabilities Measurements
Other assets	199
Recurring \| Level 2 \| Interest rate swaps
Fair Value Assets And Liabilities Measurements
Other liabilities	1,048	714
Recurring \| Level 2 \| U.S. Government agency securities
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	48,230	48,418
Recurring \| Level 2 \| Agency mortgage-backed securities
Fair Value Assets And Liabilities Measurements
Securities available-for-sale	$ 53,678	$ 65,463

Fair Value Measurements (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Fair Value Assets And Liabilities Measurements
Collateral dependent impaired loans	$ 15,612	$ 9,850
Real estate owned and other repossessed collateral	$ 1,651	$ 1,991
Discounted cash flow \| Minimum
Quantitative Information
Prepayment rate (as a percent)	6.08%	6.08%
Discount rate (as a percent)	7.25%	7.25%
Discounted cash flow \| Maximum
Quantitative Information
Prepayment rate (as a percent)	13.14%	13.14%
Discount rate (as a percent)	7.50%	7.50%
Nonrecurring
Fair Value Assets And Liabilities Measurements
Collateral dependent impaired loans	$ 932	$ 1,467
Real estate owned and other repossessed collateral	1,651	1,991
Loan servicing rights	1,123	300
Nonrecurring \| Level 3
Fair Value Assets And Liabilities Measurements
Collateral dependent impaired loans	932	1,467
Real estate owned and other repossessed collateral	1,651	1,991
Loan servicing rights	1,123	300
Nonrecurring \| Level 3 \| Appraisal of collateral
Fair Value Assets And Liabilities Measurements
Collateral dependent impaired loans	932	1,467
Real estate owned and other repossessed collateral	1,651	1,991
Nonrecurring \| Level 3 \| Discounted cash flow
Fair Value Assets And Liabilities Measurements
Loan servicing rights	$ 1,123	$ 300

Fair Value Measurements (Details 3) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Financial assets:
Available-for-sale securities	$ 101,908	$ 113,881
Federal Home Loan Bank Stock	4,102	4,102
Financial liabilities:
Capital lease obligation	1,368	1,558
Interest rate swaps	849
Total
Financial assets:
Cash and cash equivalents	89,850	82,259
Available-for-sale securities	101,908	113,881
Federal Home Loan Bank Stock	4,102	4,102
Loans held for sale	9,035	11,945
Loans, net	613,896	522,154
Accrued interest receivable	1,335	1,216
Financial liabilities:
Deposits	675,285	574,868
FHLB advances	30,867	43,843
Wholesale repurchase agreements	10,098	10,484
Short-term borrowings	2,349	2,984
Capital lease obligation	1,448	1,701
Subordinated debentures	8,471	7,858
Total \| Interest rate caps
Financial assets:
Interest rate caps	199
Total \| Interest rate swaps
Financial liabilities:
Interest rate swaps	1,048	714
Level 1
Financial assets:
Cash and cash equivalents	89,850	82,259
Level 2
Financial assets:
Available-for-sale securities	101,908	113,881
Federal Home Loan Bank Stock	4,102	4,102
Loans held for sale	9,035	11,945
Accrued interest receivable	1,335	1,216
Financial liabilities:
Deposits	675,285	574,868
FHLB advances	30,867	43,843
Wholesale repurchase agreements	10,098	10,484
Short-term borrowings	2,349	2,984
Capital lease obligation	1,448	1,701
Level 2 \| Interest rate caps
Financial assets:
Interest rate caps	199
Level 2 \| Interest rate swaps
Financial liabilities:
Interest rate swaps	1,048	714
Level 3
Financial assets:
Loans, net	613,896	522,154
Financial liabilities:
Subordinated debentures	8,471	7,858
Carrying Amount
Financial assets:
Cash and cash equivalents	89,850	82,259
Available-for-sale securities	101,908	113,881
Federal Home Loan Bank Stock	4,102	4,102
Loans held for sale	9,035	11,945
Loans, net	610,211	515,049
Accrued interest receivable	1,335	1,216
Financial liabilities:
Deposits	674,759	574,329
FHLB advances	30,188	42,824
Wholesale repurchase agreements	10,037	10,199
Short-term borrowings	2,349	2,984
Capital lease obligation	1,368	1,558
Subordinated debentures	8,626	8,440
Carrying Amount \| Interest rate caps
Financial assets:
Interest rate caps	199
Carrying Amount \| Interest rate swaps
Financial liabilities:
Interest rate swaps	$ 1,048	$ 714

Condensed Financial Statements of Parent Company (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2013
Assets
Other Assets.	$ 8,335	$ 5,935
Total assets	850,830	761,931
Liabilities and Stockholders' Equity:
Junior subordinated debentures issued to affiliated trusts	8,626	8,440
Other Liabilities.	10,664	9,531
Total liabilities	737,991	649,865
Stockholders' equity	112,839	112,066	$ 113,802
Total liabilities and stockholders' equity	850,830	761,931
Northeast Bancorp
Assets
Cash	13,251	19,547
Investment in subsidiary	109,275	100,949
Investment in common securities of affiliated trusts	496	496
Other Assets.	434	1,843
Total assets	123,456	122,835
Liabilities and Stockholders' Equity:
Junior subordinated debentures issued to affiliated trusts	8,626	8,440
Other Liabilities.	1,991	2,329
Total liabilities	10,617	10,769
Stockholders' equity	112,839	112,066
Total liabilities and stockholders' equity	$ 123,456	$ 122,835

Condensed Financial Statements of Parent Company (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Income:
Other income	$ 292	$ 314
Total interest and dividend income	44,588	38,371
Expenses:
Interest expense	718	765
Income tax expense	3,995	1,579
Net income	7,141	2,692
Northeast Bancorp
Income:
Other income	14	13
Total interest and dividend income	14	13
Expenses:
Interest expense	718	764
General and administrative expenses	1,128	1,068
Total expenses	1,846	1,832
Loss before income taxes and equity in undistributed earnings of subsidiary	(1,832)	(1,819)
Income tax expense	(684)	(390)
(Loss) income before equity in undistributed earnings of subsidiary	(1,148)	(1,429)
Equity in undistributed earnings of subsidiary	8,289	4,121
Net income	$ 7,141	$ 2,692

Condensed Financial Statements of Parent Company (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities:
Net income	$ 7,141	$ 2,692
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation	705	686
Financing activities:
Repurchase of common stock	(6,666)	(2,823)
Cash and cash equivalents, beginning of year	82,259	65,934
Cash and cash equivalents, end of year	89,850	82,259
Northeast Bancorp
Operating activities:
Net income	7,141	2,692
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization of fair value adjustment for borrowings	186	172
Stock-based compensation	705	686
Equity in undistributed earnings of subsidiary	(8,289)	(4,121)
Increase in other assets and liabilities	1,029	(503)
Net cash provided by (used in) operating activities	772	(1,074)
Financing activities:
Repurchase of common stock	(6,666)	(2,823)
Dividends paid to stockholders	(402)	(2,922)
Net cash used in financing activities	(7,068)	(5,745)
Net decrease in cash	(6,296)	(6,819)
Cash and cash equivalents, beginning of year	19,547	26,366
Cash and cash equivalents, end of year	$ 13,251	$ 19,547

Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
Discontinued Operations (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Jun. 30, 2014
Noninterest income:
Total noninterest income	$ 7,089	$ 4,869
Noninterest expense:
Salaries and employee benefits	18,817	17,786
Occupancy and equipment expense	4,939	5,448
Data processing fees	1,355	1,209
Marketing expense	244	311
Other noninterest expense	3,040	3,223
Total noninterest expense	$ 32,604	31,777
(Loss) income before tax		(12)
Income tax (benefit) expense		(4)
Net loss from discontinued operations		(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 from discontinued operations		$ (8)