View Filing Data

Print Document View Excel Document

Document and Entity Information - USD ($)	3 Months Ended
Document and Entity Information - USD ($)	Sep. 30, 2012	Nov. 12, 2012	Sep. 21, 2012
Document and Entity Information:
Entity Registrant Name	HomeTrust Bancshares, Inc.
Document Type	10-Q
Document Period End Date	Sep. 30, 2012
Amendment Flag	false
Entity Central Index Key	0001538263
Current Fiscal Year End Date	--06-30
Entity Common Stock, Shares Outstanding		21,160,000
Entity Public Float			$ 267,400,000
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1

HomeTrust Bancshares, Inc. and Subsidiary -- Consolidated Balance Sheets (September 30, 2012 figures unaudited) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Assets
Cash	$ 15,871	$ 13,909
Interest-bearing deposits	101,846	210,892
Cash and cash equivalents	117,717	224,801
Certificates of deposit in other banks	122,245	108,010
Securities available for sale, at fair value	30,534	31,335
Loans held for sale	19,120	10,787
Total loans, net of deferred loan fees and discount	1,203,021	1,229,045
Allowance for loan losses	(35,887)	(35,100)
Net loans	1,167,134	1,193,945
Premises and equipment, net	22,730	23,106
Federal Home Loan Bank stock, at cost	3,047	6,300
Accrued interest receivable	6,206	6,008
Real estate owned	13,076	16,130
Deferred income taxes	49,076	48,927
Other assets	52,099	50,707
Total Assets	1,602,984	1,720,056
Liabilities
Deposits	1,160,309	1,466,175
Other borrowings	14,225	22,265
Capital lease obligations	2,022	2,024
Other liabilities	54,885	57,107
Total liabilities	1,231,441	1,547,571
Stockholders' Equity
Common stock, $0.01 par value, 60,000,000 shares authorized, 21,160,000 shares issued and outstanding at September 30, 2012; none at June 30, 2012	212
Additional paid in capital	239,392	31,367
Retained earnings	142,089	140,937
Unearned Employee Stock Ownership Plan (ESOP) shares	(10,448)
Accumulated other comprehensive income	298	181
Total stockholders' equity	371,543	172,485
Total Liabilities and Stockholders' Equity	$ 1,602,984	$ 1,720,056

HomeTrust Bancshares, Inc. and Subsidiary -- Consolidated Balance Sheets (Parentheticals) (September 30, 2012 figures unaudited)	Sep. 30, 2012 $ / shares shares
Preferred stock par value \| $ / shares	$ .01
Preferred stock authorized shares	10,000,000
Preferred stock issued shares	0
Preferred stock shares outstanding	0
Common stock par value \| $ / shares	$ .01
Common stock shares authorized	60,000,000
Common stock shares issued	21,160,000
Common stock shares outstanding	21,160,000

HomeTrust Bancshares, Inc. and Subsidiary -- Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Interest and Dividend Income
Loans	$ 15,216	$ 16,903
Securities available for sale	96	123
Certificates of deposit and other interest-bearing deposits	391	163
Federal Home Loan Bank stock	25	18
Total interest and dividend income	15,728	17,207
Interest Expense
Deposits	2,020	2,989
Other borrowings	189	390
Total interest expense	2,209	3,379
Net Interest Income	13,519	13,828
Provision for Loan Losses	1,500	5,300
Net Interest Income after Provision for Loan Losses	12,019	8,528
Noninterest Income
Service charges on deposit accounts	653	709
Mortgage banking income and fees	1,176	672
Loss on sale of premises and equipment		(3)
Other noninterest income, net	514	296
Total other income	2,343	1,674
Noninterest Expense
Salaries and employee benefits	6,329	5,179
Net occupancy expense	1,259	1,156
Marketing and advertising	314	367
Telephone, postage, and supplies	364	331
Deposit insurance premiums	522	465
Computer services	552	382
Loss on sale and impairment of real estate owned	327	386
Federal Home Loan Bank advance prepayment penalty	1,561
Other noninterest expense	2,165	1,766
Total other expense	13,393	10,032
Income Before Income Taxes	969	170
Income Tax Benefit	(183)	(114)
Net Income	$ 1,152	$ 284
Net income per common share:
Basic	$ 0.06
Diluted	$ 0.06
Average shares outstanding:
Basic	20,108,612
Diluted	20,108,612

HomeTrust Bancshares, Inc. and Subsidiary -- Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Net income	$ 1,152	$ 284
Unrealized holding gains on securities available for sale
Gains arising during the period	177	188
Deferred income tax expense	(60)	(64)
Other comprehensive income	117	124
Total Comprehensive Income	$ 1,269	$ 408

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 10, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A7
-Appendix A

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 87-21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28, 29, 30
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

- Definition

Before tax and reclassification adjustments amount of unrealized holding gain (loss) and transfers on available-for-sale securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 10A
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669646-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e637-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 24
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 13
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 17
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

HomeTrust Bancshares, Inc. and Subsidiary -- Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid In Capital	Retained Earnings	Unearned ESOP Shares	Accumulated Other Comprehensive Income (Loss)	Total Stockholders' Equity
Balance at beginning of period at Jun. 30, 2011		$ 31,367	$ 136,410		$ (8)	$ 167,769
Net income			284			284
Other comprehensive income					124	124
Balance at end of period at Sep. 30, 2011		31,367	136,694		116	168,177
Balance at beginning of period at Jun. 30, 2012		31,367	140,937		181	172,485
Net income			1,152			1,152
Issuance of common stock	$ 212	211,388				211,600
Common stock issuance costs		(3,396)				(3,396)
Loan to ESOP for purchase of shares				$ (10,580)		(10,580)
ESOP shares allocated		33		132		165
Other comprehensive income					117	117
Balance at end of period at Sep. 30, 2012	$ 212	$ 239,392	$ 142,089	$ (10,448)	$ 298	$ 371,543

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

HomeTrust Bancshares, Inc. and Subsidiary -- Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Operating Activities:
Net income	$ 1,152	$ 284
Adjustments to reconcile net income to net cash used in operating activities:
Provision for loan losses	1,500	5,300
Depreciation	565	538
Deferred income tax benefit	(209)	(40)
Net amortization and accretion	76	(106)
Loss on sale of premises and equipment		3
Loss on sale and impairment of real estate owned	327	386
Gain on sale of loans held for sale	(921)	(506)
Origination of loans held for sale	(64,006)	(30,325)
Proceeds from sales of loans held for sale	56,594	27,569
Decrease in deferred loan fees, net	(164)	(194)
Increase in accrued interest receivable and other assets	(1,590)	(7,363)
ESOP compensation expense	165
Decrease in other liabilities	(2,222)	(1,979)
Net cash used in operating activities	(8,733)	(6,433)
Investing Activities:
Purchase of securities available for sale	(6,000)	(5,999)
Proceeds from maturities of securities available for sale	6,000	26,862
Purchase of certificates of deposit in other banks	(30,545)	(10,636)
Maturities of certificates of deposit in other banks	16,310	14,551
Principal repayments of mortgage-backed securities	866	659
Net redemptions of Federal Home Loan Bank Stock	3,253	950
Net decrease in loans	23,295	4,328
Purchase of premises and equipment	(189)	(440)
Capital improvements to real estate owned	(118)
Proceeds from sale of real estate owned	5,061	193
Net cash provided by investing activities	17,933	30,468
Financing Activities:
Net increase (decrease) in deposits	(305,866)	40,560
Net decrease in other borrowings	(8,040)	(66,162)
Proceeds from stock conversion	208,204
Loan to ESOP for purchase of shares	(10,580)
Decrease in capital lease obligations	(2)	(2)
Net cash used in financing activities	(116,284)	(25,604)
Net Decrease in Cash and Cash Equivalents	(107,084)	(1,569)
Cash and Cash Equivalents at Beginning of Period	224,801	34,671
Cash and Cash Equivalents at End of Period	117,717	33,102
Cash paid during the period for:
Interest	2,287	3,941
Income taxes		94
Noncash transactions:
Unrealized gain in value of securities available for sale, net of income taxes	117	124
Transfers of loans to real estate owned	2,708	2,410
Loans originated to finance the sale of real estate owned	$ 492	$ 2,238

1. Summary of Significant Accounting Policies

3 Months Ended

Sep. 30, 2012

Notes

1. Summary of Significant Accounting Policies

1. Summary of Significant Accounting Policies

These interim financial statements do not contain all necessary disclosures required by accounting principles generally accepted in the United States of America (“US GAAP”) for a complete set of financial statements and, therefore, should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Form 10-K of HomeTrust Bancshares, Inc. filed with the Securities and Exchange Commission (the “SEC”) on September 28, 2012 (“2012 Form 10-K”). These financial statements were prepared on a basis consistent with the audited consolidated financial statements previously referenced and include all normal and recurring adjustments that management believes are necessary in order to conform to accounting principles generally accepted in the United States of America (“US GAAP”). The results for the three months ended September 30, 2012 are not necessarily indicative of the results that may be expected for the year ending June 30, 2013 or any other future period.

Organization and Description of Business – HomeTrust Bancshares, Inc. was incorporated in Maryland on December 27, 2011 and became the holding company for HomeTrust Bank (the “Bank”) (collectively, the “Company”), on July 10, 2012 upon the completion of the Bank’s conversion from the mutual to stock form of organization (the “Conversion”) . In connection with the Conversion, the company issued an aggregate of 21,160,000 shares of common stock at an offering price of $10.00 per share for gross proceeds of $211.6 million. The Company received $208.2 million in net proceeds from the stock offering of which $104.1 million or 50% of the net proceeds were contributed to the Bank upon Conversion. Included in the issuance of shares was 1,058,000 shares to a newly formed ESOP for which the Company loaned the ESOP $10,580,000 to purchase the shares. The Bank is a federally chartered savings bank headquartered in Asheville, North Carolina with twenty retail offices located in western and central North Carolina. The current business of the Bank is conducted through its seven operating divisions – HomeTrust Bank, Cherryville Federal Bank, Home Savings Bank of Eden, Industrial Federal Bank of Lexington, Shelby Savings Bank, Tryon Federal Bank, and Rutherford County Bank. All divisions operate under a single set of corporate policies and procedures and are recognized as a single banking segment for financial reporting purposes.

Accounting Principles – The accounting and reporting policies of the Company conform to US GAAP.

Principles of Consolidation and Subsidiary Activities – The accompanying consolidated financial statements include the accounts of the Company, the Bank, and its wholly-owned subsidiary, Western North Carolina Service Corporation (“WNCSC”) at or for the three months ended September 30, 2012 and of the Bank and WNSC only for the three months ended September 30, 2011 and at June 30, 2012. WNCSC owns office buildings in Asheville, North Carolina that are leased to the Bank. All intercompany items have been eliminated.

Cash Flows – Cash and cash equivalents include cash and interest-bearing deposits with initial terms to maturity of ninety days or less.

Use of Estimates in Financial Statements – The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Securities – The Company classifies investment securities as trading, available for sale or held to maturity.

Securities available for sale are carried at fair value. Such securities are used to execute asset/liability management strategies, manage liquidity, and leverage capital, and therefore may be sold prior to maturity. Adjustments for unrealized gains or losses, net of the income tax effect, are made to accumulated other comprehensive income, a separate component of total stockholders’ equity.

Securities held to maturity are stated at cost, net of unamortized balances of premiums and discounts. When such securities are purchased, the Company intends to and has the ability to hold such securities until maturity.

Declines in the fair value of individual securities available for sale or held to maturity below their cost that are other-than-temporary result in write-downs of the individual securities to their fair value. The related write-downs are included in earnings as realized losses. In estimating other-than temporary impairment losses, the Company considers among other things, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, and (iii) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery of the unrealized loss, and in the case of debt securities, whether it is more likely than not that the Company will be required to sell the security prior to a recovery.

Premiums and discounts are amortized or accreted over the life of the security as an adjustment to yield. Dividend and interest income are recognized when earned. Gains or losses on the sale of securities are recognized on a specific identification, trade date basis.

Loans – Loans are carried at their outstanding principal amount, less unearned income and deferred nonrefundable loan fees, net of certain origination costs. Interest income is recorded as earned on an accrual basis. Net deferred loan origination fees/costs are deferred and amortized to interest income over the life of the related loan. The premium or discount on purchased loans is amortized over the expected life of the loans and is included in interest income.

Loan Segments and Classes

The Company’s loan portfolio is grouped into two segments (retail consumer loans and commercial loans) and into four classes within each segment. The Company originates, services, and manages its loans based on these segments and classes. The Company’s portfolio segments and classes within those segments are subject to risks that could have an adverse impact on the credit quality of the loan portfolio. Management identified the risks described below as significant risks that are generally similar among the loan segments and classes.

Retail Consumer loan segment

The Company underwrites its retail consumer loans using automated credit scoring and analysis tools. These credit scoring tools take into account factors such as payment history, credit utilization, length of credit history, types of credit currently in use, and recent credit inquiries. To the extent that the loan is secured by collateral, the value of the collateral is also evaluated. Common risks to each class of retail consumer loans include general economic conditions within the Company’s markets, such as unemployment and potential declines in collateral values, and the personal circumstances of the borrowers. In addition to these common risks for the Company’s retail consumer loans, various retail consumer loan classes may also have certain risks specific to them.

One to four family and construction and land/lot loans are to individuals and are typically secured by 1-4 family residential property, undeveloped land, and partially developed land in anticipation of pending construction of a personal residence. Significant and rapid declines in real estate values can result in residential mortgage loan borrowers having debt levels in excess of the current market value of the collateral. Recent declines in value have led to unprecedented levels of foreclosures and losses within the banking industry. Construction and land/lot loans often experience delays in completion and cost overruns that exceed the borrower’s financial ability to complete the project. Such cost overruns can routinely result in foreclosure of partially completed and unmarketable collateral.

Home equity lines of credit are often secured by second liens on residential real estate, thereby making such loans particularly susceptible to declining collateral values. A substantial decline in collateral value could render the Company’s second lien position to be effectively unsecured. Additional risks include lien perfection inaccuracies and disputes with first lien holders that may further weaken collateral positions. Further, the open-end structure of these loans creates the risk that customers may draw on the lines in excess of the collateral value if there have been significant declines since origination.

Consumer loans include loans secured by deposit accounts or personal property such as automobiles, boats, and motorcycles, as well as unsecured consumer debt. The value of underlying collateral within this class is especially volatile due to potential rapid depreciation in values since date of loan origination in excess of principal repayment.

Commercial loan segment

The Company’s commercial loans are centrally underwritten based primarily on the customer’s ability to generate the required cash flow to service the debt in accordance with the contractual terms and conditions of the loan agreement. The Company’s commercial lenders and underwriters work to understand the borrower’s businesses and management experiences. The majority of the Company’s commercial loans are secured by collateral, so collateral values are important to the transaction. In commercial loan transactions where the principals or other parties provide personal guarantees, the Company’s commercial lenders and underwriters analyze the relative financial strength and liquidity of each guarantor. Risks that are common to the Company’s commercial loan classes include general economic conditions, demand for the borrowers’ products and services, the personal circumstances of the principals, and reductions in collateral values. In addition to these common risks for the Company’s commercial loans, the various commercial loan classes also have certain risks specific to them.

Construction and development loans are highly dependent on the supply and demand for commercial real estate in the Company’s markets as well as the demand for the newly constructed residential homes and lots being developed by the Company’s commercial loan customers. Prolonged deterioration in demand could result in significant decreases in the underlying collateral values and make repayment of the outstanding loans more difficult for the Company’s commercial borrowers.

Commercial real estate and commercial and industrial loans are primarily dependent on the ability of the Company’s commercial loan customers to achieve business results consistent with those projected at loan origination resulting in cash flow sufficient to service the debt. To the extent that a borrower’s actual business results significantly underperform the original projections, the ability of that borrower to service the Company’s loan on a basis consistent with the contractual terms may be at risk. While these loans and leases are generally secured by real property, personal property, or business assets such as inventory or accounts receivable, it is possible that the liquidation of the collateral will not fully satisfy the obligation.

Municipal leases are primarily made to volunteer fire departments and depend on the tax revenues received from the county or municipality. These leases are mainly secured by vehicles, fire stations, land, or equipment. The underwriting of the municipal leases is based on the cash flows of the fire department as well as projections of income for the future.

Credit Quality Indicators

Loans are monitored for credit quality on a recurring basis and the composition of the loans outstanding by credit quality indicator is provided below. Loan credit quality indicators are developed through review of individual borrowers on an ongoing basis. Generally, loans are monitored for performance on a quarterly basis with the credit quality indicators adjusted as needed. The indicators represent the rating for loans as of the date presented based on the most recent assessment performed. These credit quality indicators are defined as follows:

Pass—A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification.

Special Mention—A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification.

Substandard—A substandard asset is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected.

Doubtful—An asset classified doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, on the basis of currently existing facts, conditions, and values.

Loss—Assets classified loss are considered uncollectible and of such little value that their continuing to be carried as an asset is not warranted. This classification is not necessarily equivalent to no potential for recovery or salvage value, but rather that it is not appropriate to defer a full write-off even though partial recovery may be effected in the future.

Loans Held for Sale—Loans held for sale are residential mortgages and are valued at the lower of cost or fair value less estimated costs to sell as determined by outstanding commitments from investors on a “best efforts” basis or current investor yield requirements, calculated on the aggregate loan basis. Loans sold are generally sold at par value and sold with servicing released.

Allowance for Loan Losses—The allowance for loan losses is management’s estimate of probable credit losses that are inherent in the Company’s loan portfolios at the balance sheet date. The allowance increases when the Company provides for loan losses through charges to operating earnings and when the Company recovers amounts from loans previously written down or charged off. The allowance decreases when the Company writes down or charges off loan amounts that are deemed uncollectible.

Management determines the allowance for loan losses based on periodic evaluations that are inherently subjective and require substantial judgment because the evaluations require the use of material estimates that are susceptible to significant change. The Company generally uses two allowance methodologies that are primarily based on management’s determination as to whether or not a loan is considered to be impaired.

All classified loans above a certain threshold are evaluated for impairment on a loan-by-loan basis and are considered impaired when it is probable, based on current information, that the borrower will be unable to pay contractual interest or principal as required by the loan agreement. Loans that experience insignificant payment delays and payment shortfalls are not necessarily considered 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 history, and the amount of the shortfall relative to the principal and interest owed. Impaired loans are measured at their estimated net realizable value based on either the value of the loan’s expected future cash flows discounted at the loan’s effective interest rate or on the collateral value, net of the estimated costs of disposal, if the loan is collateral dependent. For loans considered impaired, an individual allowance for loan losses is recorded when the loan principal balance exceeds the estimated net realizable value.

For loans not considered impaired, management determines the allowance for loan losses based on estimated loss percentages that are determined by and applied to the various classes of loans that comprise the segments of the Company’s loan portfolio. The estimated loss percentages by loan class are based on a number of factors that include by class (i) average historical losses over the past three years, (ii) levels and trends in delinquencies, impairments, and net charge-offs, (iii) trends in the volume, terms, and concentrations, (iv) trends in interest rates, (v) effects of changes in the Company’s risk tolerance, underwriting standards, lending policies, procedures, and practices, and (vi) national and local business and economic conditions.

Future material adjustments to the allowance for loan losses may be necessary due to changing economic conditions or declining collateral values. In addition, regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses and may require the Company to make adjustments to the allowance for loan losses based upon judgments that differ significantly from those of management.

Nonperforming Assets—Nonperforming assets can include loans that are past due 90 days or more and continue to accrue interest, loans on which interest is not being accrued, and foreclosed real estate.

Loans Past Due 90 Days or More, Nonaccruing, Impaired, or Restructured—The Company’s policies related to when loans are placed on nonaccruing status conform to guidelines prescribed by bank regulatory authorities. Generally, the Company suspends the accrual of interest on loans (i) that are maintained on a cash basis because of the deterioration of the financial condition of the borrower, (ii) for which payment in full of principal or interest is not expected (impaired loans), or (iii) on which principal or interest has been in default for a period of 90 days or more, unless the loan is both well secured and in the process of collection. Under the Company’s cost recovery method, interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accruing status when all principal and interest amounts contractually due are brought current and concern no longer exists as to the future collectability of principal and interest, which is generally confirmed when the loan demonstrates performance for six consecutive months or payment cycles.

Restructured loans to borrowers who are experiencing financial difficulty, and on which the Company has granted concessions that modify the terms of the loan are accounted for as troubled debt restructurings. These loans remain as troubled debt restructurings until the loan has been paid in full, modified to its original terms, or charged off. The Company may place these loans on accrual or nonaccrual status depending on the individual facts and circumstances of the borrower. Generally, these loans are put on nonaccrual status until there is adequate performance that evidences the ability of the borrower to make the contractual payments. This period of performance is normally at least nine months, and may include performance immediately prior to or after the modification, depending on the specific facts and circumstances of the borrower.

Loan Charge-offs—The Company charges off loan balances, in whole or in part, when available, verifiable, and documentable information confirms that specific loans, or portions of specific loans, are uncollectible or unrecoverable. For unsecured loans, losses are confirmed when it can be determined that the borrower, or any guarantors, are unwilling or unable to pay the amounts as agreed. When the borrower, or any guarantor, is unwilling or unable to pay the amounts as agreed on a loan secured by collateral and any recovery will be realized upon the sale of the collateral, the loan is deemed to be collateral dependent. Repayments or recoveries for collateral dependent loans are directly affected by the value of the collateral at liquidation. As such, loan repayment can be affected by factors that influence the amount recoverable, the timing of the recovery, or a combination of the two. Such factors include economic conditions that affect the markets in which the loan or its collateral is sold, bankruptcy, repossession and foreclosure laws, and consumer banking regulations. Losses are also confirmed when the loan, or a portion of the loan, is classified as loss resulting from loan reviews conducted by the Company or its regulatory examiners.

Charge-offs of loans in the commercial loan segment are recognized when the uncollectibility of the loan balance and the inability to recover sufficient value from the sale of any collateral securing the loan is confirmed. The uncollectibility of the loan balance is evidenced by the inability of the commercial borrower to generate cash flows sufficient to repay the loan as agreed causing the loan to become delinquent. For collateral dependent commercial loans, the Company determines the net realizable value of the collateral based on appraisals, current market conditions, and estimated costs to sell the collateral. For collateral dependent commercial loans where the loan balance, including any accrued interest, net deferred fees or costs, and unamortized premiums or discounts, exceeds the net realizable value of the collateral securing the loan, the deficiency is identified as unrecoverable, is deemed to be a confirmed loss, and is charged off.

Charge-offs of loans in the retail consumer loan segment are generally confirmed and recognized in a manner similar to loans in the commercial loan segment. Secured retail consumer loans that are identified as uncollectible and are deemed to be collateral dependent are confirmed as loss to the extent the net realizable value of the collateral is insufficient to recover the loan balance. Consumer loans not secured by real estate that become 90 cumulative days past due are charged off to the extent that the fair value of any collateral, less estimated costs to sell the collateral, is insufficient to recover the loan balance. Consumer loans secured by residential real estate that become 120 days past due are charged off to the extent that the fair value of the residential real estate securing the loan, less estimated costs to sell the collateral, is insufficient to recover the loan balance. Loans to borrowers in bankruptcy are subject to modification by the bankruptcy court and are charged off to the extent that the fair value of any collateral securing the loan, less estimated costs to sell the collateral, is insufficient to recover the loan balance, unless the Company expects repayment is likely to occur. Such loans are charged off within 60 days of the receipt of notification from a bankruptcy court or when the loans become 120 days past due, whichever is shorter.

Real Estate Owned—Real estate owned consists of real estate acquired as a result of customers’ loan defaults. Foreclosed real estate is stated at the lower of the related loan balance or the fair value of the property net of the estimated costs of disposal with a charge to the allowance for loan losses upon foreclosure. Any write-downs subsequent to foreclosure are charged against operating earnings. To the extent recoverable, costs relating to the development and improvement of property are capitalized, whereas those costs relating to holding the property are charged to expense.

Premises and Equipment—Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the 150% declining balance method and the straight-line method over the estimated useful lives which range from fifteen to forty years for buildings and three to ten years for furniture, fixtures, and equipment. Maintenance and repair costs are expensed as incurred.

Federal Home Loan Bank Stock—As a requirement for membership, the Bank invests in stock of the Federal Home Loan Bank of Atlanta (“FHLB”). This investment is carried at cost. Due to the redemption provisions of the FHLB, the Bank estimated that fair value equals cost and that this investment was not impaired at September 30, 2012 and 2011.

Business Combinations—Effective July 1, 2009, the Company adopted a new accounting standard which requires the acquisition method of accounting, formerly referred to as the purchase method, be used for all business combinations. An acquirer must be identified for each business combination, and the acquisition date is the date the acquirer achieves control. The acquisition method of accounting requires the Company as acquirer to recognize the fair value of assets acquired and liabilities assumed at the acquisition date as well as recognize goodwill or a gain from a bargain purchase, if appropriate. In addition, prior to our stock conversion in July 2012, we recognized the fair value of the acquired institution’s equity as a separate component to equity capital on the balance sheet as required for business combinations of mutual institutions. Any acquisition-related costs and restructuring costs are recognized as period expenses as incurred.

Income Taxes – The Company accounts for income taxes using the asset and liability method. 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 and operating loss and tax credit carryforwards. 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 income in the period that includes the enactment date. Deferred tax assets are reduced, if necessary, by the amount of such benefits that are not expected to be realized based upon available evidence.

The Company recognizes interest and penalties accrued relative to unrecognized tax benefits in its respective federal or state income taxes accounts. As of September 30, 2012 (unaudited) and June 30, 2012, there were no accruals for uncertain tax positions and no accruals for interest and penalties. The Company and its subsidiary file a consolidated United States federal income tax return, as well as separate unconsolidated North Carolina state income tax returns. The Company’s filed income tax returns are no longer subject to examination by taxing authorities for years before June 30, 2008.

Comprehensive Income (Loss)—Comprehensive income consists of net income (loss) and net unrealized gains (losses) on securities available for sale and is presented in the consolidated statements of comprehensive income (loss).

Derivative Instruments and Hedging—The Company recognizes all derivatives as either assets or liabilities in the balance sheet, and measures those instruments at fair value. Changes in the fair value of those derivatives are reported in current earnings or other comprehensive income depending on the purpose for which the derivative is held and whether the derivative qualifies for hedge accounting. Loan commitments related to the origination or acquisition of mortgage loans that will be held for sale must be accounted for as derivative instruments. The Company enters into commitments to originate loans whereby the interest rate on the loan is determined prior to funding (rate lock commitments). The Company also enters into forward sales commitments for the mortgage loans underlying the rate lock commitments. The fair values of these two derivative financial instruments are collectively insignificant to the consolidated financial statements.

Use of Estimates in Financial Statements—The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Recent Accounting Pronouncements –In May 2011, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2011-04, Fair Value Measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in US GAAP and International Financial Reporting Standards (“IFRS”). ASU 2011-04 amends Topic 820, Fair Value Measurements and Disclosures, to converge the fair value measurement guidance in U.S. generally accepted accounting principles and International Financial Reporting Standards. ASU 2011-04 clarifies the application of existing fair value measurement requirements, changes certain principles in Topic 820 and requires additional fair value disclosures. ASU 2011-04 became effective for the first interim or annual period beginning on or after December 15, 2011 and did not have a significant impact on the Company’s Consolidated Financial Statements.

In June 2011, FASB issued ASU No. 2011-05, Presentation of Comprehensive Income. The amendments in this ASU were effective for fiscal years and interim periods within those years beginning after December 15, 2011 and were to be applied retrospectively. The FASB decided to eliminate the option to present components of other comprehensive income as part of the statement of changes in stockholders’ equity. The amendments require that all non-owner changes in stockholders’ equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. Additionally, the amendments require the consecutive presentation of the statement of net income and other comprehensive income and require the presentation of reclassification adjustments on the face of the financial statements from other comprehensive income to net income. The adoption of this ASU did not have a material effect on the Company’s Consolidated Financial Statements.

In December 2011, FASB issued ASU No. 2011-12, Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in ASU No. 2011-05. This ASU was made to allow FASB time to redeliberate whether to present on the face of the financial statements the effects of reclassifications out of accumulated other comprehensive income on the components of net income and other comprehensive income for all periods presented. While FASB is considering the operational concerns about the presentation requirements for reclassification adjustments, and the needs of financial statement users for additional information about reclassification adjustments, entities should continue to report reclassification out of accumulated other comprehensive income consistent with the presentation requirements in effect before ASU 2011-05. The amendments in this ASU were effective at the same time as the amendments in ASU 2011-05 so that entities will not be required to comply with the presentation requirements effective at the same time as the amendments in ASU 2011-05 that this ASU is deferring. The amendments in this ASU were effective for public entities for fiscal years, and interim periods within those years, beginning after December 15, 2011. The adoption of this ASU did not have a material effect on the Company’s Consolidated Financial Statements.

2. Securities Available For Sale

3 Months Ended

Sep. 30, 2012

Notes

2. Securities Available For Sale

2. Securities Available for Sale

Securities available for sale consist of the following at the dates indicated:

	September 30, 2012
				Gross		Gross		Estimated
		Amortized		Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
U.S. Government Agencies	$	6,000	$	-	$	(1)	$	5,999
Residential Mortgage-backed
Securities of U.S. Government
Agencies and Government-
Sponsored Enterprises		24,082		464		(11)		24,535
Total	$	30,082	$	464	$	(12)	$	30,534

	June 30, 2012
				Gross		Gross		Estimated
		Amortized		Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
U.S. Government Agencies	$	6,102	$	2	$	(2)	$	6,102
Residential Mortgage-backed
Securities of U.S. Government
Agencies and Government-
Sponsored Enterprises		24,958		286		(11)		25,233
Total	$	31,060	$	288	$	(13)	$	31,335

Debt securities available for sale by contractual maturity at the dates indicated are shown below. Mortgage-backed securities are not included in the maturity categories because the borrowers in the underlying pools may prepay without penalty; therefore, it is unlikely that the securities will pay at their stated maturity schedule.

	September 30, 2012
	Amortized	Estimated
	Cost	Fair Value
Due within one year	-	-
Due after one year through five years	6,000	5,999
Due after five years through ten years	-	-
Due after ten years	-	-
Mortgage-backed securities	24,082	24,535
Total	$30,082	$30,534

June 30, 2012
Due within one year	$6,000	$6,002
Due after one year through five years	102	100
Due after five years through ten years	-	-
Due after ten years	-	-
Mortgage-backed securities	24,958	25,233
Total	$31,060	$31,335

The Company had no sales of securities during the three months ended September 30, 2012 or 2011.

Securities available for sale with costs totaling $15,103 (unaudited) and $15,563 (market value of $15,613 (unaudited) and $15,727) at September 30, 2012 and June 30, 2012, respectively, were pledged as collateral to secure various public deposits and retail repurchase agreements.

The gross unrealized losses and the fair value for securities available for sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2012 and June 30, 2012 are as follows:

	September 30, 2012 (Unaudited)
	Less than 12 Months				12 Months or More				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
		Value		Losses		Value		Losses		Value		Losses
U.S. Government Agencies	$	5,999	$	(1)	$	-	$	-	$	5,999	$	(1)
Residential Mortgage-
backed Securities of U.S.
Government Agencies and
Government-Sponsored Enterprises		49		(1)		2,695		(10)		2,744		(11)
Total	$	6,048	$	(2)	$	2,695	$	(10)	$	8,743	$	(12)

	June 30, 2012
	Less than 12 Months				12 Months or More				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
		Value		Losses		Value		Losses		Value		Losses
U.S. Government Agencies	$	-	$	-	$	100	$	(2)	$	100	$	(2)
Residential Mortgage-
backed Securities of U.S.
Government Agencies and
Government-Sponsored Enterprises		2,908		(8)		100		(3)		3,008		(11)
Total	$	2,908	$	(8)	$	200	$	(5)	$	3,108	$	(13)

The total number of securities with unrealized losses at September 30, 2012, and June 30, 2012 were 19 (unaudited) and 22, respectively. Unrealized losses on securities have not been recognized in income because management has the intent and ability to hold the securities for the foreseeable future, and has determined that it is not more likely than not that the Company will be required to sell the securities prior to a recovery in value. The decline in fair value was largely due to decreases in market interest rates. The Company had no other than temporary impairment losses during the three month period ended September 30, 2012 (unaudited) or the year ended June 30, 2012. The Bank, as a member of the FHLB, is required to maintain an investment in FHLB capital stock. No ready market exists for the FHLB stock and the carrying value approximates its fair value based on the redemption provisions of the FHLB.

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27337-111563

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27198-111563

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 19, 20, 21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 17
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-1
-Paragraph 21
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

3. Loans

3 Months Ended

Sep. 30, 2012

Notes

3. Loans

3. Loans

Loans consist of the following at the dates indicated:

		(Unaudited)
		September 30,		June 30,
		2012		2012
Retail consumer loans:
One to four family	$	611,470	$	620,486
Home equity lines of credit		139,766		143,052
Construction and land/lots		52,150		53,572
Consumer		3,768		3,819
Total retail consumer loans		807,154		820,929
Commercial loans:
Commercial real estate		231,992		238,644
Construction and development		38,745		42,362
Commercial and industrial		13,222		14,578
Municipal leases		114,691		115,516
Total commercial loans		398,650		411,100
Total loans		1,205,804		1,232,029
Deferred loan fees, net		(1,696)		(1,860)
Discount on loans from business combination		(1,087)		(1,124)
Total loans, net of deferred loan fees and discount		1,203,021		1,229,045
Allowance for loan and lease losses		(35,887)		(35,100)
Loans, net	$	1,167,134	$	1,193,945

All the qualifying first mortgage loans, home equity lines of credit, and FHLB Stock were pledged as collateral to secure the FHLB advances.

The Company’s total loans by segment, class, and risk grade at the dates indicated follow:

				Special
		Pass		Mention		Substandard		Doubtful		Loss		Total
September 30, 2012 (Unaudited)
Retail consumer loans:
One to four family	$	543,948	$	9,201	$	56,703	$	1,598	$	20	$	611,470
Home equity lines of credit		131,605		1,319		5,636		1,204		2		139,766
Construction and land/lots		48,220		566		3,038		326		-		52,150
Consumer		3,179		99		457		31		2		3,768
Commercial loans:
Commercial real estate		182,916		15,023		33,622		431		-		231,992
Construction and development		19,461		5,742		13,259		282		1		38,745
Commercial and industrial		8,878		1,062		3,124		157		1		13,222
Municipal leases		113,015		918		758		-		-		114,691
Loans receivable gross	$	1,051,222	$	33,930	$	116,597	$	4,029	$	26	$	1,205,804

				Special
		Pass		Mention		Substandard		Doubtful		Loss		Total
June 30, 2012
Retail consumer loans:
One to four family	$	553,457	$	9,305	$	55,338	$	2,366	$	20	$	620,486
Home equity lines of credit		134,959		1,267		5,620		1,204		2		143,052
Construction and land/lots		48,759		704		3,084		1,025		-		53,572
Consumer		3,563		55		159		39		3		3,819
Commercial loans:
Commercial real estate		195,372		16,291		25,958		1,023		-		238,644
Construction and development		20,074		5,739		16,406		142		1		42,362
Commercial and industrial		9,818		1,073		3,527		157		3		14,578
Municipal leases		113,829		633		1,054		-		-		115,516
Loans Receivable Gross	$	1,079,831	$	35,067	$	111,146	$	5,956	$	29	$	1,232,029

The Company’s total loans by segment, class, and delinquency status at the dates indicated follows:

	Past Due									Total
		30-89 Days		90 Days+		Total		Current		Loans
September 30, 2012 (unaudited)
Retail consumer loans:
One to four family	$	7,933	$	13,968	$	21,901	$	589,569	$	611,470
Home equity lines of credit		350		2,248		2,598		137,168		139,766
Construction and land/lots		611		1,241		1,852		50,298		52,150
Consumer		4		77		81		3,687		3,768
Commercial loans:
Commercial real estate		2,179		6,790		8,969		223,023		231,992
Construction and development		1,150		5,546		6,696		32,049		38,745
Commercial and industrial		131		288		419		12,803		13,222
Municipal leases		-		-		-		114,691		114,691
Total loans	$	12,358	$	30,158	$	42,516	$	1,163,288	$	1,205,804

	Past Due									Total
		30-89 Days		90 Days+		Total		Current		Loans
June 30, 2012
Retail consumer loans:
One to four family	$	10,532	$	11,629	$	22,161	$	598,325	$	620,486
Home equity lines of credit		388		2,613		3,001		140,051		143,052
Construction and land/lots		789		1,405		2,194		51,378		53,572
Consumer		54		35		89		3,730		3,819
Commercial loans:
Commercial real estate		4,188		6,071		10,259		228,385		238,644
Construction and development		331		6,001		6,332		36,030		42,362
Commercial and industrial		155		266		421		14,157		14,578
Municipal leases		-		-		-		115,516		115,516
Total loans	$	16,437	$	28,020	$	44,457	$	1,187,572	$	1,232,029

The Company’s recorded investment in loans, by segment and class, that are not accruing interest or are 90 days or more past due and still accruing interest at the dates indicated follow:

		September 30, 2012 (unaudited)				June 30, 2012
				90 Days + &				90 Days + &
		Nonaccruing		still accruing		Nonaccruing		still accruing
Retail consumer loans:
One to four family	$	29,350	$	-	$	27,659	$	-
Home equity lines of credit		4,476		-		4,781		-
Construction and land/lots		3,064		-		3,437		-
Consumer		80		-		76		-
Commercial loans:
Commercial real estate		21,486		-		15,008		-
Construction and development		10,582		-		12,583		-
Commercial and industrial		689		-		637		-
Municipal leases		-		-		-		-
Total loans	$	69,727	$	-	$	64,181	$	-

The Company’s loans that were performing under the terms of troubled debt restructurings (“TDRs”) that were excluded from nonaccruing loans above at the dates indicated follow:

	(Unaudited)
	September 30,	June 30,
	2012	2012
Performing restructured loans included in impaired loans	$17,628	$20,588

An analysis of the allowance for loan losses by segment for the periods shown is as follows:

	(Unaudited)				(Unaudited)
	Three Months Ended September 30, 2012				Three Months Ended September 30, 2011
	Retail				Retail
	Consumer	Commercial	Total		Consumer		Commercial		Total
Balance at beginning of period	$21,172	$13,928	$35,100	$	26,629	$	23,511	$	50,140
Provision for loan losses	689	811	1,500		1,831		3,469		5,300
Charge-offs	(611)	(718)	(1,329)		(8,699)		(6,292)		(14,991)
Recoveries	124	492	616		57		1		58
Balance at end of period	$21,374	$14,513	$35,887	$	19,818	$	20,689	$	40,507

The Company’s ending balances of loans and the related allowance, by segment and class, at the dates indicated follows:

	Allowance for Loan Losses			Total Loans Receivable
	Loans			Loans
	individually	Loans		individually	Loans
	evaluated for	Collectively		evaluated for	Collectively
	impairment	Evaluated	Total	impairment	Evaluated	Total
September 30, 2012 (unaudited)
Retail consumer loans:
One- to four-family	$425	$14,211	$14,636	$35,863	$575,607	$611,470
Home equity	207	3,389	3,596	4,566	135,200	139,766
Construction and land/lots	9	3,002	3,011	3,002	49,148	52,150
Consumer	2	128	130	3	3,765	3,768
Commercial loans:
Commercial real estate	1,313	5,983	7,296	26,545	205,447	231,992
Construction and development	100	5,817	5,917	11,354	27,391	38,745
Commercial and industrial	109	188	297	2,705	10,517	13,222
Municipal leases	-	1,004	1,004	-	114,691	114,691
Total	$2,165	$33,722	$35,887	$84,038	$1,121,766	$1,205,804

June 30, 2012
Retail consumer loans:
One- to four-family	$596	$13,961	$14,557	$36,011	$584,475	$620,486
Home equity	238	3,293	3,531	4,382	138,670	143,052
Construction and land/lots	68	2,887	2,955	3,772	49,800	53,572
Consumer	2	127	129	3	3,816	3,819
Commercial loans:
Commercial real estate	407	6,047	6,454	20,266	218,378	238,644
Construction and development	154	6,099	6,253	14,389	27,973	42,362
Commercial and industrial	111	204	315	2,965	11,613	14,578
Municipal leases	-	906	906	-	115,516	115,516
Total	$1,576	$33,524	$35,100	$81,788	$1,150,241	$1,232,029

The Company’s impaired loans and the related allowance, by segment and class, at the dates indicated follows:

	Total Impaired Loans
	With a	With No		Related
	Recorded	Recorded		Recorded
	Allowance	Allowance	Total	Allowance
September 30, 2012 (unaudited)
Retail consumer loans:
One to four family	$8,065	$33,123	$41,188	$524
Home equity lines of credit	960	4,312	5,272	222
Construction and land/lots	223	2,956	3,179	20
Consumer	78	2	80	2
Commercial loans:
Commercial real estate	7,823	19,370	27,193	1,330
Construction and development	1,259	10,772	12,031	231
Commercial and industrial	551	2,524	3,075	114
Municipal leases	-	-	-	-
Total impaired loans	$18,959	$73,059	$92,018	$2,443

June 30, 2012
Retail consumer loans:
One to four family	$7,787	$32,802	$40,589	$685
Home equity lines of credit	1,163	4,093	5,256	256
Construction and land/lots	462	3,440	3,902	75
Consumer	73	3	76	4
Commercial loans:
Commercial real estate	2,281	18,214	20,495	413
Construction and development	1,616	13,461	15,077	289
Commercial and industrial	501	2,779	3,280	115
Municipal leases	-	-	-	-
Total impaired loans	$13,883	$74,792	$88,675	$1,837

The table above includes $7,980 (unaudited) and $6,887, of impaired loans that were not individually evaluated at September 30, 2012 and June 30, 2012, respectively, because these loans did not meet the Company’s threshold for individual impairment evaluation. The recorded allowance above includes $278 (unaudited) and $261 related to these loans that were not individually evaluated at September 30, 2012 and June 30, 2012, respectively.

The Company’s average recorded investment in loans individually evaluated for impairment, period end unpaid principal balance and interest income recognized on impaired loans at the dates indicated follows:

	September 30, 2012 (Unaudited)				June 30, 2012
		Average	Unpaid	Interest		Average	Unpaid	Interest
		Recorded	Principal	Income		Recorded	Principal	Income
		Investment	Balance	Recognized		Investment	Balance	Recognized
Retail consumer loans:
One to four family		$42,314	$40,568	$426		$42,829	$41,006	$1,799
Home equity lines of credit		5,216	8,493	36		5,531	8,329	208
Construction and land/lots		4,190	7,057	36		4,926	8,244	253
Consumer		59	97	1		48	98	1
Commercial loans:
Commercial real estate		22,262	34,200	412		21,249	25,679	1,184
Construction and development		21,052	19,090	142		26,994	23,070	763
Commercial and industrial		3,184	4,315	42		3,138	4,535	218
Municipal leases		389	-	-		531	-	-
Total loans		$98,666	$113,820	$1,095		$105,246	$110,961	$4,426

For the three months ended September 30, 2012, the following table presents a breakdown of the types of concessions made on TDRs by loan class:

	Three Months Ended					Three Months Ended
	September 30, 2012 (Unaudited)					September 30, 2011 (Unaudited)
		Pre		Post			Pre		Post
		Modification		Modification			Modification		Modification
	Number	Outstanding		Outstanding		Number	Outstanding		Outstanding
	of	Recorded		Recorded		of	Recorded		Recorded
	Loans	Investment		Investment		Loans	Investment		Investment
Below market interest rate:
Retail consumer:
One to four family	2		$171		$170	9		$2,543		$2,543
Commercial:
Commercial real estate	1		236		236	-		-		-
Total	3		$407		$406	9		$2,543		$2,543

Extended payment terms:
Retail consumer:
One to four family	-		$-		$-	12		$2,336		$2,202
Construction and land/lots	-		-		-	1		158		158
Commercial:
Commercial real estate	-		-		-	1		8		8
Commercial and industrial	-		-		-	1		86		86
Total	-		$-		$-	15		$2,588		$2,454

Other TDRs:
Retail consumer:
One to four family	-		$-		$-	2		276		276
Commercial:
Commercial real estate	-		-		-	2		767		767
Total	-		$-		$-	4		$1,043		$1,043

Total	3		$407		$406	28		$6,174		$6,040

The following table presents loans that were modified as TDRs within the previous 12 months and for which there was a payment default during the three months ended September 30, 2012 and 2011.

	Three Months Ended
	September 30, 2012 (Unaudited)
	Number of	Recorded
	Loans	Investment
Below market interest rate:
Retail consumer:
One to four family	2	$1,590
Home equity lines of credit	-	-
Total	2	$1,590

Extended payment terms:
Retail consumer:
One to four family	2	$106
Construction and land/lots	-	-
Commercial:
Commercial real estate	-	-
Construction and development	-	-
Total	2	$106

Other TDRs:
Retail consumer:
One to four family	--	--
Commercial:
Commercial real estate	1	247
Total	1	$247

Total	5	$1,943

	Three Months Ended
	September 30, 2011 (Unaudited)
	Number of	Recorded
	Loans	Investment
Below market interest rate:
Retail consumer:
One to four family	1	$275
Home equity lines of credit	1	911
Total	2	$1,186

Extended payment terms:
Retail consumer:
One to four family	6	$386
Construction and land/lots	1	346
Commercial:
Commercial real estate	3	914
Construction and development	1	293
Total	11	$1,939

Other TDRs:
Retail consumer:
One to four family	1	$227
Commercial:
Commercial real estate	--	--
Total	1	$227

Total	14	$3,352

Other TDRs include TDRs that have a below market interest rate and extended payment terms. The Company does not typically forgive principal when restructuring troubled debt.

In the determination of the allowance for loan losses, management considers TDRs for all loan classes, and the subsequent nonperformance in accordance with their modified terms, by measuring impairment on a loan-by-loan basis based on either the value of the loan’s expected future cash flows discounted at the loan’s effective interest rate or on the collateral value, net of the estimated costs of disposal, if the loan is collateral dependent.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5066-111524

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5162-111524

Reference 4: 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.(k))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7512638&loc=d3e5074-111524

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 01-6
-Paragraph 13
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3, 4
-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 7
-Article 9

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph k
-Article 4

+ Details

4. Employee Stock Ownership Plan

3 Months Ended

Sep. 30, 2012

Notes

4. Employee Stock Ownership Plan

4. Employee Stock Ownership Plan

In connection with the Conversion, the Bank established an Employee Stock Ownership Plan (“ESOP”) for the benefit of all of its eligible employees. Full-time employees of the Company and the Bank who have been credited with at least 1,000 hours of service during a 12-month period and who have attained age 21 are eligible to participate in the ESOP. It is anticipated that the Bank will make contributions to the ESOP in amounts necessary to amortize the ESOP loan payable to the Company over a 20 year period.

Unearned ESOP shares are shown as a reduction of stockholders’ equity. Dividends on unearned ESOP shares, if paid, will be considered to be compensation expense. The Company will recognize compensation expense equal to the fair value of the Company’s ESOP shares during the periods in which they become committed to be released. To the extent that the fair value of the Company’s ESOP shares differs from the cost of such shares, the differential will be recognized as additional paid in capital. The Company will recognize a tax deduction equal to the cost of the shares released. Because the ESOP is internally leveraged through a loan from the Company to the ESOP, the loan receivable by the Company from the ESOP is not reported as an asset nor is the debt of the ESOP shown as a liability in the consolidated financial statements.

Compensation expense related to the ESOP for the three months ended September 30, 2012 was $165. Shares held by the ESOP include the following:

	September 30,
	2012
Unallocated ESOP shares	1,044,775
ESOP shares committed to be released	13,225
Total ESOP shares	1,058,000
Fair value of unallocated ESOP shares	$13,843

- Definition

Tabular disclosure of the description of the plan, the basis for determining contributions, including the employee groups covered, and the nature and effect of significant matters affecting comparability of information for all periods presented. For leveraged ESOPs and pension reversion ESOPs, the disclosure may include the basis for releasing shares and how dividends on allocated and unallocated shares are used. Disclosure may also include a description of the accounting policies followed for ESOP transactions, including the method of measuring compensation, the classification of dividends on ESOP shares, and the treatment of ESOP shares for EPS computations. If the employer has both old ESOP shares for which it does not adopt the latest guidance and new ESOP shares for which the new guidance is required, the accounting policies for both blocks of shares may be described. Disclosure may also include he amount of compensation cost recognized during the period, the number of allocated shares, committed-to-be-released shares, and suspense shares held by the ESOP at the balance-sheet date, the fair value of unearned ESOP shares at the balance-sheet date for shares accounted for under the latest guidance, the existence and nature of any repurchase obligation, including disclosure of the fair value of the shares allocated as of the balance sheet date, which are subject to a repurchase obligation.

+ References + Details

5. Commitments and Contingencies

3 Months Ended

Sep. 30, 2012

Notes

5. Commitments and Contingencies

5. Commitments and Contingencies

Loan Commitments – Legally binding 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 commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. In the normal course of business, there are various outstanding commitments to extend credit that are not reflected in the consolidated financial statements. At September 30, 2012 and June 30, 2012, respectively, loan commitments (excluding $14,873 (unaudited) and $22,518 of undisbursed portions of construction loans) totaled $33,853 (unaudited) and $44,736 of which $4,099 (unaudited) and $5,322 were variable rate commitments and $29,754 (unaudited) and $39,413 were fixed rate commitments. The fixed rate loans had interest rates ranging from 2.50% (unaudited) to 7.75% (unaudited) at September 30, 2012 and 3.59% to 5.75% at June 30, 2012, and terms ranging from 6 to 30 years. Pre-approved but unused lines of credit (principally second mortgage home equity loans and overdraft protection loans) totaled $154,260 (unaudited) and $154,283. These amounts represent the Company’s exposure to credit risk, and in the opinion of management have no more than the normal lending risk that the Company commits to its borrowers. The Company has freestanding derivative instruments consisting of commitments to originate fixed rate conforming loans and commitments to sell fixed rate conforming loans. The fair value of these commitments was not material at September 30, 2012 (unaudited) or June 30, 2012.

The Company grants construction and permanent loans collateralized primarily by residential and commercial real estate to customers throughout its primary market area. In addition, the Company grants municipal leases to customers throughout North and South Carolina. The Company’s loan portfolio can be affected by the general economic conditions within these market areas. Management believes that the Company has no concentration of credit in the loan portfolio.

Restrictions on Cash – The Bank is required by regulation to maintain a varying cash reserve balance with the Federal Reserve System. The daily average calculated cash reserve required as of September 30, 2012 and June 30, 2012 was $1,056 (unaudited), and $1,466, respectively, which was satisfied by vault cash and balances held at the Federal Reserve.

Guarantees – Standby letters of credit obligate the Company to meet certain financial obligations of its customers, if, under the contractual terms of the agreement, the customers are unable to do so. The financial standby letters of credit issued by the Company are irrevocable and payment is only guaranteed upon the borrower’s failure to perform its obligations to the beneficiary. Total commitments under standby letters of credit as of September 30, 2012 and June 30, 2012 were $252 (unaudited) and $75. There was no liability recorded for these letters of credit at September 30, 2012 or June 30, 2012.

Litigation – The Company is involved in several litigation matters in the ordinary course of business. One matter, originally filed in March 2012, involves claims of $12.5 million in compensatory damages and a request for additional punitive treble damages resulting from the purported failure of the Company and a third party brokerage firm to discover a Ponzi scheme conducted by a customer holding accounts at each entity. The Company believes that the lawsuit is without merit and intends to defend itself vigorously. Management, after review with its legal counsel, is of the opinion that this litigation should not have a material effect on the Company’s financial position or results of operations, although new developments could result in management modifying its assessment. There can be no assurance that the Company will successfully defend or resolve this litigation matter.

The Company is also subject to a variety of other legal matters that have arisen in the ordinary course of our business. In the current economic environment, litigation has increased significantly, primarily as a result of defaulted borrowers asserting claims to defeat or delay foreclosure proceedings. There can be no assurance that loan workouts and other activities will not expose the Company to additional legal actions, including lender liability or environmental claims. Therefore, the Company may be exposed to substantial liabilities, which could adversely affect its results of operations and financial condition. Moreover, the expenses of legal proceedings will adversely affect its results of operations until they are resolved.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6952336&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

6. Fair Value of Financial Instruments

3 Months Ended

Sep. 30, 2012

Notes

6. Fair Value of Financial Instruments

6. Fair Value of Financial Instruments

The Company utilizes fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets.

Fair Value Hierarchy

The Company groups assets at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are:

Level 1: Valuation is based upon quoted prices for identical instruments traded in active markets.

Level 2: Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3: Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.

Following is a description of valuation methodologies used for assets recorded at fair value. The Company does not have any liabilities recorded at fair value.

Investment Securities Available for Sale

Securities available for sale are valued on a recurring basis at quoted market prices where available. If quoted market prices are not available, fair values are based on quoted prices of comparable securities. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange or U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include mortgage-backed securities and debentures issued by government sponsored enterprises, municipal bonds, and corporate debt securities.

Loans

The Company does not record loans at fair value on a recurring basis. From time to time, however, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, the fair value is estimated using one of several methods, including collateral value, market value of similar debt, enterprise value, liquidation value and discounted cash flows. The Company reviews all impaired loans each quarter to determine if an allowance is necessary. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans.

At September 30, 2012 and June 30, 2012, most of the total impaired loans were evaluated based on the fair value of the collateral. For these collateral dependent impaired loans, the Company obtains updated appraisals at least annually. These appraisals are reviewed for appropriateness and then discounted for estimated closing costs to determine if an allowance is necessary. As part of the quarterly review of impaired loans, the Company reviews these appraisals to determine if any additional discounts to the fair value are necessary. If a current appraisal is not obtained, the Company determines whether a discount is needed to the value from the original appraisal based on the decline in value of similar properties with recent appraisals. Impaired loans where a charge off has occurred or an allowance is established require classification in the fair value hierarchy. The Company records all impaired loans with an allowance as nonrecurring Level 3.

Real Estate Owned

Real estate owned is considered held for sale and is adjusted to fair value less estimated selling costs upon transfer of the loan to foreclosed assets. Fair value is based upon independent market prices, appraised value of the collateral or management’s estimation of the value of the collateral. The Company considers all real estate owned carried at fair value as nonrecurring Level 3.

The following table presents financial assets measured at fair value on a recurring basis at the dates indicated:

	September 30, 2012 (Unaudited)
Description	Total	Level 1	Level 2	Level 3
U.S Government Agencies	$5,999	$-	$5,999	$-
Residential Mortgage-backed Securities of
U.S. Government Agencies and
Government sponsored Enterprises	24,535	-	24,535	-
Total	$30,534	$-	$30,534	$-

	June 30, 2012
Description	Total	Level 1	Level 2	Level 3
U.S Government Agencies	$6,102	-	6,102	-
Residential Mortgage-backed Securities of
U.S. Government Agencies and
Government sponsored Enterprises	25,233	-	25,233	-
Total	$31,335	-	31,335	-

The following table presents financial assets measured at fair value on a non-recurring basis during the periods indicated:

	Three Months Ended September 30, 2012 (Unaudited)
	Total	Level 1	Level 2	Level 3
Description
Impaired Loans	$3,298	$-	$-	$3,298
Other real estate owned	791	-	-	791
Total	$4,089	$-	$-	$4,089

	Year Ended June 30, 2012
	Total	Level 1	Level 2	Level 3
Description
Impaired Loans	$30,585	$-	$-	$30,585
Other real estate owned	12,093	-	-	12,093
Total	$42,678	$-	$-	$42,678

Quantitative information about Level 3 fair value measurements during the period ended September 30, 2012 are in the table below:

	Fair Value at
	September 30,	Valuation	Unobservable
	2012	Techniques	Input	Range
Nonrecurring measurements:
Impaired loans, net	$3,298	Discounted Appraisals	Collateral discounts	5%-40%
Other real estate owned	791	Discounted Appraisals	Collateral discounts	10%-15%

The stated carrying value and estimated fair value amounts of financial instruments as of September 30, 2012 and June 30, 2012, are summarized below:

	September 30, 2012 (Unaudited)
	Carrying		Fair
	Value		Value		Level 1		Level 2		Level 3
Cash and interest-bearing deposits		$117,717		$117,717		$117,717		$-		$-
Certificates of deposit in other banks		122,245		122,245		-		122,245		-
Securities available for sale		30,534		30,534		-		30,534		-
Loans, net		1,167,134		1,103,680		-		1,050,927		52,753
Loans held for sale		19,120		19,407		-		19,407		-
Federal Home Loan Bank stock		3,047		3,047		3,047		-		-
Accrued interest receivable		6,206		6,206		-		6,206		-
Noninterest-bearing and NOW deposits		239,329		239,329		-		239,329		-
Money market accounts		259,844		259,844		-		259,844		-
Savings accounts		77,133		77,133		-		77,133		-
Certificates of deposit		584,003		587,810		-		587,810		-
Other borrowings		14,225		15,519		-		15,519		-
Accrued interest payable		166		166		-		166		-

	June 30, 2012
	Carrying		Fair
	Value		Value		Level 1		Level 2		Level 3
Cash and interest-bearing deposits		$224,801		$224,801		$224,801		$-		$-
Certificates of deposit in other banks		108,010		108,010		-		108,010		-
Securities available for sale		31,335		31,335		-		31,335		-
Loans, net		1,204,732		1,155,429		-		1,105,974		49,455
Loans held for sale		10,787		10,949		-		10,949		-
Federal Home Loan Bank stock		6,300		6,300		6,300		-		-
Accrued interest receivable		6,008		6,008		-		6,008		-
Noninterest-bearing and NOW deposits		230,683		230,683		-		230,683		-
Money market accounts		257,865		257,865		-		257,865		-
Savings accounts		347,669		347,669		-		347,669		-
Certificates of deposit		629,958		634,379		-		634,379		-
Other borrowings		22,265		24,998		-		24,998		-
Accrued interest payable		242		242		-		242		-

The Company had off-balance sheet financial commitments, which include approximately $202,986 (unaudited) and $213,979 of commitments to originate loans, undisbursed portions of interim construction loans, and unused lines of credit at September 30, 2012 and June 30, 2012 (see Note 5). Since these commitments are based on current rates, the carrying amount approximates the fair value.

Estimated fair values were determined using the following methods and assumptions:

Cash and interest-bearing deposits – The stated amounts approximate fair values as maturities are less than 90 days.

Certificates of deposit in other banks – The stated amounts approximate fair values.

Securities available for sale and investment securities – Fair values are based on quoted market prices where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments.

Loans, net – Fair values for loans are estimated by segregating the portfolio by type of loan and discounting scheduled cash flows using current market interest rates for loans with similar terms and credit quality. A prepayment assumption is used as an estimate of the portion of loans that will be repaid prior to their scheduled maturity. Both the carrying value and estimated fair value amounts are shown net of the allowance for loan losses.

Loans held for sale - The fair value of loans held for sale is determined by outstanding commitments from investors on a “best efforts” basis or current investor yield requirements, calculated on the aggregate loan basis.

Federal Home Loan Bank Stock – No ready market exists for this stock and it has no quoted market value. However, redemption of this stock has historically been at par value. Accordingly, cost is deemed to be a reasonable estimate of fair value.

Deposits – Fair values for demand deposits, money market accounts, and savings accounts are the amounts payable on demand as of September 30, 2012 and June 30, 2012. The fair value of certificates of deposit is estimated by discounting the contractual cash flows using current market interest rates for accounts with similar maturities.

Other borrowings – The fair value of advances from the Federal Home Loan Bank is estimated based on current rates for borrowings with similar terms. Fair values for retail repurchase agreements are the amounts payable as of September 30, 2012 and June 30, 2012.

Accrued interest receivable and payable – The stated amounts of accrued interest receivable and payable approximate the fair value.

Limitations – Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Fair value estimates are based on existing on-and-off balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For example, a significant asset not considered a financial asset is premises and equipment. In addition, tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates.

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

2. Securities Available For Sale: Securities Available for Sale Pledged as Collateral Policy (Policies)	3 Months Ended
	Sep. 30, 2012
Policies
Securities Available for Sale Pledged as Collateral Policy	Securities available for sale with costs totaling $15,103 (unaudited) and $15,563 (market value of $15,613 (unaudited) and $15,727) at September 30, 2012 and June 30, 2012, respectively, were pledged as collateral to secure various public deposits and retail repurchase agreements.

2. Securities Available For Sale: Securities with Unrealized Losses Policy (Policies)	3 Months Ended
	Sep. 30, 2012
Policies
Securities with Unrealized Losses Policy	The total number of securities with unrealized losses at September 30, 2012, and June 30, 2012 were 19 (unaudited) and 22, respectively. Unrealized losses on securities have not been recognized in income because management has the intent and ability to hold the securities for the foreseeable future, and has determined that it is not more likely than not that the Company will be required to sell the securities prior to a recovery in value. The decline in fair value was largely due to decreases in market interest rates. The Company had no other than temporary impairment losses during the three month period ended September 30, 2012 (unaudited) or the year ended June 30, 2012. The Bank, as a member of the FHLB, is required to maintain an investment in FHLB capital stock. No ready market exists for the FHLB stock and the carrying value approximates its fair value based on the redemption provisions of the FHLB.

3. Loans: Impaired Financing Receivable, Policy (Policies)	3 Months Ended
	Sep. 30, 2012
Policies
Impaired Financing Receivable, Policy	The table above includes $7,980 (unaudited) and $6,887, of impaired loans that were not individually evaluated at September 30, 2012 and June 30, 2012, respectively, because these loans did not meet the Company’s threshold for individual impairment evaluation. The recorded allowance above includes $278 (unaudited) and $261 related to these loans that were not individually evaluated at September 30, 2012 and June 30, 2012, respectively.

5. Commitments and Contingencies: Loan Commitments, Policy (Policies)

3 Months Ended

Sep. 30, 2012

Policies

Loan Commitments, Policy

5. Commitments and Contingencies: Restrictions on Cash Policy (Policies)	3 Months Ended
	Sep. 30, 2012
Policies
Restrictions on Cash Policy	Restrictions on Cash – The Bank is required by regulation to maintain a varying cash reserve balance with the Federal Reserve System. The daily average calculated cash reserve required as of September 30, 2012 and June 30, 2012 was $1,056 (unaudited), and $1,466, respectively, which was satisfied by vault cash and balances held at the Federal Reserve.

5. Commitments and Contingencies: Standby Letters of Credit Policy (Policies)	3 Months Ended
	Sep. 30, 2012
Policies
Standby Letters of Credit Policy	Guarantees – Standby letters of credit obligate the Company to meet certain financial obligations of its customers, if, under the contractual terms of the agreement, the customers are unable to do so. The financial standby letters of credit issued by the Company are irrevocable and payment is only guaranteed upon the borrower’s failure to perform its obligations to the beneficiary. Total commitments under standby letters of credit as of September 30, 2012 and June 30, 2012 were $252 (unaudited) and $75. There was no liability recorded for these letters of credit at September 30, 2012 or June 30, 2012.

6. Fair Value of Financial Instruments: Off-Balance-Sheet Credit Exposure, Policy (Policies)	3 Months Ended
	Sep. 30, 2012
Policies
Off-Balance-Sheet Credit Exposure, Policy	The Company had off-balance sheet financial commitments, which include approximately $202,986 (unaudited) and $213,979 of commitments to originate loans, undisbursed portions of interim construction loans, and unused lines of credit at September 30, 2012 and June 30, 2012 (see Note 5). Since these commitments are based on current rates, the carrying amount approximates the fair value.

2. Securities Available For Sale: Schedule of Available-for-sale Securities Reconciliation (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Available-for-sale Securities Reconciliation

	September 30, 2012
				Gross		Gross		Estimated
		Amortized		Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
U.S. Government Agencies	$	6,000	$	-	$	(1)	$	5,999
Residential Mortgage-backed
Securities of U.S. Government
Agencies and Government-
Sponsored Enterprises		24,082		464		(11)		24,535
Total	$	30,082	$	464	$	(12)	$	30,534

	June 30, 2012
				Gross		Gross		Estimated
		Amortized		Unrealized		Unrealized		Fair
		Cost		Gains		Losses		Value
U.S. Government Agencies	$	6,102	$	2	$	(2)	$	6,102
Residential Mortgage-backed
Securities of U.S. Government
Agencies and Government-
Sponsored Enterprises		24,958		286		(11)		25,233
Total	$	31,060	$	288	$	(13)	$	31,335

2. Securities Available For Sale: Schedule of Investments Classified by Contractual Maturity Date (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Investments Classified by Contractual Maturity Date

	September 30, 2012
	Amortized	Estimated
	Cost	Fair Value
Due within one year	-	-
Due after one year through five years	6,000	5,999
Due after five years through ten years	-	-
Due after ten years	-	-
Mortgage-backed securities	24,082	24,535
Total	$30,082	$30,534

June 30, 2012
Due within one year	$6,000	$6,002
Due after one year through five years	102	100
Due after five years through ten years	-	-
Due after ten years	-	-
Mortgage-backed securities	24,958	25,233
Total	$31,060	$31,335

2. Securities Available For Sale: Schedule of Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

	September 30, 2012 (Unaudited)
	Less than 12 Months				12 Months or More				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
		Value		Losses		Value		Losses		Value		Losses
U.S. Government Agencies	$	5,999	$	(1)	$	-	$	-	$	5,999	$	(1)
Residential Mortgage-
backed Securities of U.S.
Government Agencies and
Government-Sponsored Enterprises		49		(1)		2,695		(10)		2,744		(11)
Total	$	6,048	$	(2)	$	2,695	$	(10)	$	8,743	$	(12)

	June 30, 2012
	Less than 12 Months				12 Months or More				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
		Value		Losses		Value		Losses		Value		Losses
U.S. Government Agencies	$	-	$	-	$	100	$	(2)	$	100	$	(2)
Residential Mortgage-
backed Securities of U.S.
Government Agencies and
Government-Sponsored Enterprises		2,908		(8)		100		(3)		3,008		(11)
Total	$	2,908	$	(8)	$	200	$	(5)	$	3,108	$	(13)

3. Loans: Schedule of Accounts, Notes, Loans and Financing Receivable (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Accounts, Notes, Loans and Financing Receivable

		(Unaudited)
		September 30,		June 30,
		2012		2012
Retail consumer loans:
One to four family	$	611,470	$	620,486
Home equity lines of credit		139,766		143,052
Construction and land/lots		52,150		53,572
Consumer		3,768		3,819
Total retail consumer loans		807,154		820,929
Commercial loans:
Commercial real estate		231,992		238,644
Construction and development		38,745		42,362
Commercial and industrial		13,222		14,578
Municipal leases		114,691		115,516
Total commercial loans		398,650		411,100
Total loans		1,205,804		1,232,029
Deferred loan fees, net		(1,696)		(1,860)
Discount on loans from business combination		(1,087)		(1,124)
Total loans, net of deferred loan fees and discount		1,203,021		1,229,045
Allowance for loan and lease losses		(35,887)		(35,100)
Loans, net	$	1,167,134	$	1,193,945

3. Loans: Schedule of Loans by Segment, Class and Grade (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Loans by Segment, Class and Grade

				Special
		Pass		Mention		Substandard		Doubtful		Loss		Total
September 30, 2012 (Unaudited)
Retail consumer loans:
One to four family	$	543,948	$	9,201	$	56,703	$	1,598	$	20	$	611,470
Home equity lines of credit		131,605		1,319		5,636		1,204		2		139,766
Construction and land/lots		48,220		566		3,038		326		-		52,150
Consumer		3,179		99		457		31		2		3,768
Commercial loans:
Commercial real estate		182,916		15,023		33,622		431		-		231,992
Construction and development		19,461		5,742		13,259		282		1		38,745
Commercial and industrial		8,878		1,062		3,124		157		1		13,222
Municipal leases		113,015		918		758		-		-		114,691
Loans receivable gross	$	1,051,222	$	33,930	$	116,597	$	4,029	$	26	$	1,205,804

				Special
		Pass		Mention		Substandard		Doubtful		Loss		Total
June 30, 2012
Retail consumer loans:
One to four family	$	553,457	$	9,305	$	55,338	$	2,366	$	20	$	620,486
Home equity lines of credit		134,959		1,267		5,620		1,204		2		143,052
Construction and land/lots		48,759		704		3,084		1,025		-		53,572
Consumer		3,563		55		159		39		3		3,819
Commercial loans:
Commercial real estate		195,372		16,291		25,958		1,023		-		238,644
Construction and development		20,074		5,739		16,406		142		1		42,362
Commercial and industrial		9,818		1,073		3,527		157		3		14,578
Municipal leases		113,829		633		1,054		-		-		115,516
Loans Receivable Gross	$	1,079,831	$	35,067	$	111,146	$	5,956	$	29	$	1,232,029

3. Loans: Schedule of Loans by Segment, Class and Delinquency Status (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Loans by Segment, Class and Delinquency Status

	Past Due									Total
		30-89 Days		90 Days+		Total		Current		Loans
September 30, 2012 (unaudited)
Retail consumer loans:
One to four family	$	7,933	$	13,968	$	21,901	$	589,569	$	611,470
Home equity lines of credit		350		2,248		2,598		137,168		139,766
Construction and land/lots		611		1,241		1,852		50,298		52,150
Consumer		4		77		81		3,687		3,768
Commercial loans:
Commercial real estate		2,179		6,790		8,969		223,023		231,992
Construction and development		1,150		5,546		6,696		32,049		38,745
Commercial and industrial		131		288		419		12,803		13,222
Municipal leases		-		-		-		114,691		114,691
Total loans	$	12,358	$	30,158	$	42,516	$	1,163,288	$	1,205,804

	Past Due									Total
		30-89 Days		90 Days+		Total		Current		Loans
June 30, 2012
Retail consumer loans:
One to four family	$	10,532	$	11,629	$	22,161	$	598,325	$	620,486
Home equity lines of credit		388		2,613		3,001		140,051		143,052
Construction and land/lots		789		1,405		2,194		51,378		53,572
Consumer		54		35		89		3,730		3,819
Commercial loans:
Commercial real estate		4,188		6,071		10,259		228,385		238,644
Construction and development		331		6,001		6,332		36,030		42,362
Commercial and industrial		155		266		421		14,157		14,578
Municipal leases		-		-		-		115,516		115,516
Total loans	$	16,437	$	28,020	$	44,457	$	1,187,572	$	1,232,029

3. Loans: Schedule of Past Due Financing Receivables (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Past Due Financing Receivables

		September 30, 2012 (unaudited)				June 30, 2012
				90 Days + &				90 Days + &
		Nonaccruing		still accruing		Nonaccruing		still accruing
Retail consumer loans:
One to four family	$	29,350	$	-	$	27,659	$	-
Home equity lines of credit		4,476		-		4,781		-
Construction and land/lots		3,064		-		3,437		-
Consumer		80		-		76		-
Commercial loans:
Commercial real estate		21,486		-		15,008		-
Construction and development		10,582		-		12,583		-
Commercial and industrial		689		-		637		-
Municipal leases		-		-		-		-
Total loans	$	69,727	$	-	$	64,181	$	-

3. Loans: Schedule of Troubled Debt Restructurings Performing and Excluded from Nonaccruing Loans (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Troubled Debt Restructurings Performing and Excluded from Nonaccruing Loans

	(Unaudited)
	September 30,	June 30,
	2012	2012
Performing restructured loans included in impaired loans	$17,628	$20,588

3. Loans: Schedule of Allowance for Credit Losses on Financing Receivables (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Allowance for Credit Losses on Financing Receivables

	(Unaudited)				(Unaudited)
	Three Months Ended September 30, 2012				Three Months Ended September 30, 2011
	Retail				Retail
	Consumer	Commercial	Total		Consumer		Commercial		Total
Balance at beginning of period	$21,172	$13,928	$35,100	$	26,629	$	23,511	$	50,140
Provision for loan losses	689	811	1,500		1,831		3,469		5,300
Charge-offs	(611)	(718)	(1,329)		(8,699)		(6,292)		(14,991)
Recoveries	124	492	616		57		1		58
Balance at end of period	$21,374	$14,513	$35,887	$	19,818	$	20,689	$	40,507

3. Loans: Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class

	Allowance for Loan Losses			Total Loans Receivable
	Loans			Loans
	individually	Loans		individually	Loans
	evaluated for	Collectively		evaluated for	Collectively
	impairment	Evaluated	Total	impairment	Evaluated	Total
September 30, 2012 (unaudited)
Retail consumer loans:
One- to four-family	$425	$14,211	$14,636	$35,863	$575,607	$611,470
Home equity	207	3,389	3,596	4,566	135,200	139,766
Construction and land/lots	9	3,002	3,011	3,002	49,148	52,150
Consumer	2	128	130	3	3,765	3,768
Commercial loans:
Commercial real estate	1,313	5,983	7,296	26,545	205,447	231,992
Construction and development	100	5,817	5,917	11,354	27,391	38,745
Commercial and industrial	109	188	297	2,705	10,517	13,222
Municipal leases	-	1,004	1,004	-	114,691	114,691
Total	$2,165	$33,722	$35,887	$84,038	$1,121,766	$1,205,804

June 30, 2012
Retail consumer loans:
One- to four-family	$596	$13,961	$14,557	$36,011	$584,475	$620,486
Home equity	238	3,293	3,531	4,382	138,670	143,052
Construction and land/lots	68	2,887	2,955	3,772	49,800	53,572
Consumer	2	127	129	3	3,816	3,819
Commercial loans:
Commercial real estate	407	6,047	6,454	20,266	218,378	238,644
Construction and development	154	6,099	6,253	14,389	27,973	42,362
Commercial and industrial	111	204	315	2,965	11,613	14,578
Municipal leases	-	906	906	-	115,516	115,516
Total	$1,576	$33,524	$35,100	$81,788	$1,150,241	$1,232,029

3. Loans: Schedule of Impaired Loans and Related Allowance by Segment and Class (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Impaired Loans and Related Allowance by Segment and Class

	Total Impaired Loans
	With a	With No		Related
	Recorded	Recorded		Recorded
	Allowance	Allowance	Total	Allowance
September 30, 2012 (unaudited)
Retail consumer loans:
One to four family	$8,065	$33,123	$41,188	$524
Home equity lines of credit	960	4,312	5,272	222
Construction and land/lots	223	2,956	3,179	20
Consumer	78	2	80	2
Commercial loans:
Commercial real estate	7,823	19,370	27,193	1,330
Construction and development	1,259	10,772	12,031	231
Commercial and industrial	551	2,524	3,075	114
Municipal leases	-	-	-	-
Total impaired loans	$18,959	$73,059	$92,018	$2,443

June 30, 2012
Retail consumer loans:
One to four family	$7,787	$32,802	$40,589	$685
Home equity lines of credit	1,163	4,093	5,256	256
Construction and land/lots	462	3,440	3,902	75
Consumer	73	3	76	4
Commercial loans:
Commercial real estate	2,281	18,214	20,495	413
Construction and development	1,616	13,461	15,077	289
Commercial and industrial	501	2,779	3,280	115
Municipal leases	-	-	-	-
Total impaired loans	$13,883	$74,792	$88,675	$1,837

3. Loans: Schedule of Average Recorded Investment in Loans, Unpaid Principal Balance and Interest Income Recognized (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Average Recorded Investment in Loans, Unpaid Principal Balance and Interest Income Recognized

	September 30, 2012 (Unaudited)				June 30, 2012
		Average	Unpaid	Interest		Average	Unpaid	Interest
		Recorded	Principal	Income		Recorded	Principal	Income
		Investment	Balance	Recognized		Investment	Balance	Recognized
Retail consumer loans:
One to four family		$42,314	$40,568	$426		$42,829	$41,006	$1,799
Home equity lines of credit		5,216	8,493	36		5,531	8,329	208
Construction and land/lots		4,190	7,057	36		4,926	8,244	253
Consumer		59	97	1		48	98	1
Commercial loans:
Commercial real estate		22,262	34,200	412		21,249	25,679	1,184
Construction and development		21,052	19,090	142		26,994	23,070	763
Commercial and industrial		3,184	4,315	42		3,138	4,535	218
Municipal leases		389	-	-		531	-	-
Total loans		$98,666	$113,820	$1,095		$105,246	$110,961	$4,426

3. Loans: Schedule of Debtor Troubled Debt Restructuring, Current Period (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Debtor Troubled Debt Restructuring, Current Period

	Three Months Ended					Three Months Ended
	September 30, 2012 (Unaudited)					September 30, 2011 (Unaudited)
		Pre		Post			Pre		Post
		Modification		Modification			Modification		Modification
	Number	Outstanding		Outstanding		Number	Outstanding		Outstanding
	of	Recorded		Recorded		of	Recorded		Recorded
	Loans	Investment		Investment		Loans	Investment		Investment
Below market interest rate:
Retail consumer:
One to four family	2		$171		$170	9		$2,543		$2,543
Commercial:
Commercial real estate	1		236		236	-		-		-
Total	3		$407		$406	9		$2,543		$2,543

Extended payment terms:
Retail consumer:
One to four family	-		$-		$-	12		$2,336		$2,202
Construction and land/lots	-		-		-	1		158		158
Commercial:
Commercial real estate	-		-		-	1		8		8
Commercial and industrial	-		-		-	1		86		86
Total	-		$-		$-	15		$2,588		$2,454

Other TDRs:
Retail consumer:
One to four family	-		$-		$-	2		276		276
Commercial:
Commercial real estate	-		-		-	2		767		767
Total	-		$-		$-	4		$1,043		$1,043

Total	3		$407		$406	28		$6,174		$6,040

3. Loans: Schedule of Troubled Debt Restructurings With Payment Default (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Troubled Debt Restructurings With Payment Default

	Three Months Ended
	September 30, 2012 (Unaudited)
	Number of	Recorded
	Loans	Investment
Below market interest rate:
Retail consumer:
One to four family	2	$1,590
Home equity lines of credit	-	-
Total	2	$1,590

Extended payment terms:
Retail consumer:
One to four family	2	$106
Construction and land/lots	-	-
Commercial:
Commercial real estate	-	-
Construction and development	-	-
Total	2	$106

Other TDRs:
Retail consumer:
One to four family	--	--
Commercial:
Commercial real estate	1	247
Total	1	$247

Total	5	$1,943

	Three Months Ended
	September 30, 2011 (Unaudited)
	Number of	Recorded
	Loans	Investment
Below market interest rate:
Retail consumer:
One to four family	1	$275
Home equity lines of credit	1	911
Total	2	$1,186

Extended payment terms:
Retail consumer:
One to four family	6	$386
Construction and land/lots	1	346
Commercial:
Commercial real estate	3	914
Construction and development	1	293
Total	11	$1,939

Other TDRs:
Retail consumer:
One to four family	1	$227
Commercial:
Commercial real estate	--	--
Total	1	$227

Total	14	$3,352

4. Employee Stock Ownership Plan: Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity

	September 30,
	2012
Unallocated ESOP shares	1,044,775
ESOP shares committed to be released	13,225
Total ESOP shares	1,058,000
Fair value of unallocated ESOP shares	$13,843

6. Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

	September 30, 2012 (Unaudited)
Description	Total	Level 1	Level 2	Level 3
U.S Government Agencies	$5,999	$-	$5,999	$-
Residential Mortgage-backed Securities of
U.S. Government Agencies and
Government sponsored Enterprises	24,535	-	24,535	-
Total	$30,534	$-	$30,534	$-

	June 30, 2012
Description	Total	Level 1	Level 2	Level 3
U.S Government Agencies	$6,102	-	6,102	-
Residential Mortgage-backed Securities of
U.S. Government Agencies and
Government sponsored Enterprises	25,233	-	25,233	-
Total	$31,335	-	31,335	-

6. Fair Value of Financial Instruments: Schedule of Fair Value Measurements, Nonrecurring (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Fair Value Measurements, Nonrecurring

	Three Months Ended September 30, 2012 (Unaudited)
	Total	Level 1	Level 2	Level 3
Description
Impaired Loans	$3,298	$-	$-	$3,298
Other real estate owned	791	-	-	791
Total	$4,089	$-	$-	$4,089

	Year Ended June 30, 2012
	Total	Level 1	Level 2	Level 3
Description
Impaired Loans	$30,585	$-	$-	$30,585
Other real estate owned	12,093	-	-	12,093
Total	$42,678	$-	$-	$42,678

6. Fair Value of Financial Instruments: Schedule of Quantitative Information About Level 3 Fair Value Measurements (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Quantitative Information About Level 3 Fair Value Measurements

	Fair Value at
	September 30,	Valuation	Unobservable
	2012	Techniques	Input	Range
Nonrecurring measurements:
Impaired loans, net	$3,298	Discounted Appraisals	Collateral discounts	5%-40%
Other real estate owned	791	Discounted Appraisals	Collateral discounts	10%-15%

6. Fair Value of Financial Instruments: Schedule of Fair Value, by Balance Sheet Grouping (Tables)

3 Months Ended

Sep. 30, 2012

Tables/Schedules

Schedule of Fair Value, by Balance Sheet Grouping

	September 30, 2012 (Unaudited)
	Carrying		Fair
	Value		Value		Level 1		Level 2		Level 3
Cash and interest-bearing deposits		$117,717		$117,717		$117,717		$-		$-
Certificates of deposit in other banks		122,245		122,245		-		122,245		-
Securities available for sale		30,534		30,534		-		30,534		-
Loans, net		1,167,134		1,103,680		-		1,050,927		52,753
Loans held for sale		19,120		19,407		-		19,407		-
Federal Home Loan Bank stock		3,047		3,047		3,047		-		-
Accrued interest receivable		6,206		6,206		-		6,206		-
Noninterest-bearing and NOW deposits		239,329		239,329		-		239,329		-
Money market accounts		259,844		259,844		-		259,844		-
Savings accounts		77,133		77,133		-		77,133		-
Certificates of deposit		584,003		587,810		-		587,810		-
Other borrowings		14,225		15,519		-		15,519		-
Accrued interest payable		166		166		-		166		-

	June 30, 2012
	Carrying		Fair
	Value		Value		Level 1		Level 2		Level 3
Cash and interest-bearing deposits		$224,801		$224,801		$224,801		$-		$-
Certificates of deposit in other banks		108,010		108,010		-		108,010		-
Securities available for sale		31,335		31,335		-		31,335		-
Loans, net		1,204,732		1,155,429		-		1,105,974		49,455
Loans held for sale		10,787		10,949		-		10,949		-
Federal Home Loan Bank stock		6,300		6,300		6,300		-		-
Accrued interest receivable		6,008		6,008		-		6,008		-
Noninterest-bearing and NOW deposits		230,683		230,683		-		230,683		-
Money market accounts		257,865		257,865		-		257,865		-
Savings accounts		347,669		347,669		-		347,669		-
Certificates of deposit		629,958		634,379		-		634,379		-
Other borrowings		22,265		24,998		-		24,998		-
Accrued interest payable		242		242		-		242		-

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 19
-Subparagraph a, b, c(1), d(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 14
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15
-Subparagraph b-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 18
-Subparagraph c(2), d, e, f
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-Subparagraph a, c(1), c(2), c(3), d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

2. Securities Available For Sale: Schedule of Available-for-sale Securities Reconciliation (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Securities available for sale, at fair value	$ 30,534	$ 31,335
US Government Agencies
Available-for-sale Securities, Amortized Cost Basis	6,000	6,102
Available-for-sale Securities, Gross Unrealized Gains		2
Available-for-sale Securities, Gross Unrealized Losses	(1)	(2)
Securities available for sale, at fair value	5,999	6,102
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises
Available-for-sale Securities, Amortized Cost Basis	24,082	24,958
Available-for-sale Securities, Gross Unrealized Gains	464	286
Available-for-sale Securities, Gross Unrealized Losses	(11)	(11)
Securities available for sale, at fair value	24,535	25,233
Total available for sale securities
Available-for-sale Securities, Amortized Cost Basis	30,082	31,060
Available-for-sale Securities, Gross Unrealized Gains	464	288
Available-for-sale Securities, Gross Unrealized Losses	(12)	(13)
Securities available for sale, at fair value	$ 30,534	$ 31,335

- Definition

This element represents the portion of the balance sheet assertion valued at fair value by the entity whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale.

+ References + Details

2. Securities Available For Sale: Schedule of Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Available for Sale Securities Debt Maturities Within One Year Amortized Cost		$ 6,000
Available for Sale Securities Debt Maturities Within One Year Fair Value		6,002
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis	$ 6,000	102
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value	5,999	100
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis	30,082	31,060
Available-for-sale Securities, Debt Maturities, Fair Value	30,534	31,335
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis	24,082	24,958
Available-for-sale Securities, Debt Maturities, Fair Value	$ 24,535	$ 25,233

2. Securities Available For Sale: Securities Available for Sale Pledged as Collateral Policy (Details) - USD ($)	Sep. 30, 2012	Jun. 30, 2012
Available-for-sale Securities Pledged as Collateral	$ 15,103	$ 15,563
Securities Available for Sale Pledged as Collateral Market Value	$ 15,613	$ 15,727

2. Securities Available For Sale: Schedule of Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
US Government Agencies
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	$ 5,999
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	(1)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value		$ 100
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses		(2)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	5,999	100
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	(1)	(2)
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	49	2,908
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	(1)	(8)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	2,695	100
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	(10)	(3)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	2,744	3,008
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	(11)	(11)
Total available for sale securities
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value	6,048	2,908
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Losses	(2)	(8)
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	2,695	200
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Losses	(10)	(5)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	8,743	3,108
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Losses	$ (12)	$ (13)

2. Securities Available For Sale: Securities with Unrealized Losses Policy (Details)	Sep. 30, 2012	Jun. 30, 2012
Number of Securities with Unrealized Losses	19	22

3. Loans: Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Loans Receivable Gross	$ 1,205,804	$ 1,232,029
Loans and Leases Receivable, Deferred Income	(1,696)	(1,860)
Discount on loans from business combination	(1,087)	(1,124)
Loans Receivable Net of Deferred Loan Fees and Discount	1,203,021	1,229,045
Allowance for loan losses	(35,887)	(35,100)
Net loans	1,167,134	1,193,945
Retail consumer loans
One to four family real estate	611,470	620,486
Loans and Leases Receivable, Gross, Consumer, Home Equity	139,766	143,052
Construction and land/lots	52,150	53,572
Loans and Leases Receivable, Gross, Consumer	3,768	3,819
Total retail consumer loans	807,154	820,929
Commercial loans
Loans Receivable, Gross, Commercial, Mortgage	231,992	238,644
Loans Receivable Construction and Development	38,745	42,362
Loans Receivable, Gross, Commercial and Industrial	13,222	14,578
Loans Receivable Municipal Leases	114,691	115,516
Total commercial loans	$ 398,650	$ 411,100

3. Loans: Schedule of Loans by Segment, Class and Grade (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Loans Receivable Gross	$ 1,205,804	$ 1,232,029
Pass
One to four family real estate	543,948	553,457
Loans and Leases Receivable, Gross, Consumer, Home Equity	131,605	134,959
Construction and land/lots	48,220	48,759
Loans and Leases Receivable, Gross, Consumer	3,179	3,563
Loans Receivable, Gross, Commercial, Mortgage	182,916	195,372
Loans Receivable Construction and Development	19,461	20,074
Loans Receivable, Gross, Commercial and Industrial	8,878	9,818
Loans Receivable Municipal Leases	113,015	113,829
Loans Receivable Gross	1,051,222	1,079,831
Special Mention
One to four family real estate	9,201	9,305
Loans and Leases Receivable, Gross, Consumer, Home Equity	1,319	1,267
Construction and land/lots	566	704
Loans and Leases Receivable, Gross, Consumer	99	55
Loans Receivable, Gross, Commercial, Mortgage	15,023	16,291
Loans Receivable Construction and Development	5,742	5,739
Loans Receivable, Gross, Commercial and Industrial	1,062	1,073
Loans Receivable Municipal Leases	918	633
Loans Receivable Gross	33,930	35,067
Substandard
One to four family real estate	56,703	55,338
Loans and Leases Receivable, Gross, Consumer, Home Equity	5,636	5,620
Construction and land/lots	3,038	3,084
Loans and Leases Receivable, Gross, Consumer	457	159
Loans Receivable, Gross, Commercial, Mortgage	33,622	25,958
Loans Receivable Construction and Development	13,259	16,406
Loans Receivable, Gross, Commercial and Industrial	3,124	3,527
Loans Receivable Municipal Leases	758	1,054
Loans Receivable Gross	116,597	111,146
Doubtful
One to four family real estate	1,598	2,366
Loans and Leases Receivable, Gross, Consumer, Home Equity	1,204	1,204
Construction and land/lots	326	1,025
Loans and Leases Receivable, Gross, Consumer	31	39
Loans Receivable, Gross, Commercial, Mortgage	431	1,023
Loans Receivable Construction and Development	282	142
Loans Receivable, Gross, Commercial and Industrial	157	157
Loans Receivable Gross	4,029	5,956
Unlikely to be Collected Financing Receivable
One to four family real estate	20	20
Loans and Leases Receivable, Gross, Consumer, Home Equity	2	2
Loans and Leases Receivable, Gross, Consumer	2	3
Loans Receivable Construction and Development	1	1
Loans Receivable, Gross, Commercial and Industrial	1	3
Loans Receivable Gross	26	29
Total by Grade
One to four family real estate	611,470	620,486
Loans and Leases Receivable, Gross, Consumer, Home Equity	139,766	143,052
Construction and land/lots	52,150	53,572
Loans and Leases Receivable, Gross, Consumer	3,768	3,819
Loans Receivable, Gross, Commercial, Mortgage	231,992	238,644
Loans Receivable Construction and Development	38,745	42,362
Loans Receivable, Gross, Commercial and Industrial	13,222	14,578
Loans Receivable Municipal Leases	114,691	115,516
Loans Receivable Gross	$ 1,205,804	$ 1,232,029

3. Loans: Schedule of Loans by Segment, Class and Delinquency Status (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
One to four family loans
Financing receivable Recorded Investment 30 to 89 Days Past Due	$ 7,933	$ 10,532
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due	13,968	11,629
Financing Receivable, Recorded Investment, Past Due	21,901	22,161
Financing Receivable, Recorded Investment, Current	589,569	598,325
Total loans receivable	611,470	620,486
Home equity lines of credit
Financing receivable Recorded Investment 30 to 89 Days Past Due	350	388
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due	2,248	2,613
Financing Receivable, Recorded Investment, Past Due	2,598	3,001
Financing Receivable, Recorded Investment, Current	137,168	140,051
Total loans receivable	139,766	143,052
Construction and land/lots loans
Financing receivable Recorded Investment 30 to 89 Days Past Due	611	789
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due	1,241	1,405
Financing Receivable, Recorded Investment, Past Due	1,852	2,194
Financing Receivable, Recorded Investment, Current	50,298	51,378
Total loans receivable	52,150	53,572
Consumer loans
Financing receivable Recorded Investment 30 to 89 Days Past Due	4	54
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due	77	35
Financing Receivable, Recorded Investment, Past Due	81	89
Financing Receivable, Recorded Investment, Current	3,687	3,730
Total loans receivable	3,768	3,819
Commercial real estate loans
Financing receivable Recorded Investment 30 to 89 Days Past Due	2,179	4,188
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due	6,790	6,071
Financing Receivable, Recorded Investment, Past Due	8,969	10,259
Financing Receivable, Recorded Investment, Current	223,023	228,385
Total loans receivable	231,992	238,644
Construction and development loans
Financing receivable Recorded Investment 30 to 89 Days Past Due	1,150	331
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due	5,546	6,001
Financing Receivable, Recorded Investment, Past Due	6,696	6,332
Financing Receivable, Recorded Investment, Current	32,049	36,030
Total loans receivable	38,745	42,362
Commercial and industrial loans
Financing receivable Recorded Investment 30 to 89 Days Past Due	131	155
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due	288	266
Financing Receivable, Recorded Investment, Past Due	419	421
Financing Receivable, Recorded Investment, Current	12,803	14,157
Total loans receivable	13,222	14,578
Municipal leases
Financing Receivable, Recorded Investment, Current	114,691	115,516
Total loans receivable	114,691	115,516
Total loans
Financing receivable Recorded Investment 30 to 89 Days Past Due	12,358	16,437
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due	30,158	28,020
Financing Receivable, Recorded Investment, Past Due	42,516	44,457
Financing Receivable, Recorded Investment, Current	1,163,288	1,187,572
Total loans receivable	$ 1,205,804	$ 1,232,029

3. Loans: Schedule of Past Due Financing Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
One to four family loans
Financing Receivable, Recorded Investment, Nonaccrual Status	$ 29,350	$ 27,659
Home equity lines of credit
Financing Receivable, Recorded Investment, Nonaccrual Status	4,476	4,781
Construction and land/lots loans
Financing Receivable, Recorded Investment, Nonaccrual Status	3,064	3,437
Consumer loans
Financing Receivable, Recorded Investment, Nonaccrual Status	80	76
Commercial real estate loans
Financing Receivable, Recorded Investment, Nonaccrual Status	21,486	15,008
Construction and development loans
Financing Receivable, Recorded Investment, Nonaccrual Status	10,582	12,583
Commercial and industrial loans
Financing Receivable, Recorded Investment, Nonaccrual Status	689	637
Total loans
Financing Receivable, Recorded Investment, Nonaccrual Status	$ 69,727	$ 64,181

3. Loans: Schedule of Troubled Debt Restructurings Performing and Excluded from Nonaccruing Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Performing restructured loans included in impaired loans	$ 17,628	$ 20,588

3. Loans: Schedule of Allowance for Credit Losses on Financing Receivables (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Retail consumer loans
Allowance for Doubtful Accounts Beginning of Period	$ 21,172	$ 26,629
Allowance for Loan and Lease Losses, Provision for Loss, Gross	689	1,831
Allowance for Loan and Lease Losses, Write-offs	(611)	(8,699)
Allowance for Loan and Lease Losses, Recoveries of Bad Debts	124	57
Allowance for Doubtful Accounts End of Period	21,374	19,818
Commercial loans
Allowance for Doubtful Accounts Beginning of Period	13,928	23,511
Allowance for Loan and Lease Losses, Provision for Loss, Gross	811	3,469
Allowance for Loan and Lease Losses, Write-offs	(718)	(6,292)
Allowance for Loan and Lease Losses, Recoveries of Bad Debts	492	1
Allowance for Doubtful Accounts End of Period	14,513	20,689
Total loans
Allowance for Doubtful Accounts Beginning of Period	35,100	50,140
Allowance for Loan and Lease Losses, Provision for Loss, Gross	1,500	5,300
Allowance for Loan and Lease Losses, Write-offs	(1,329)	(14,991)
Allowance for Loan and Lease Losses, Recoveries of Bad Debts	616	58
Allowance for Doubtful Accounts End of Period	$ 35,887	$ 40,507

3. Loans: Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Allowance for loan losses	$ (35,887)	$ (35,100)
Loans Receivable Gross	1,205,804	1,232,029
Allowance for Loan Losses \| One to four family loans
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	425	596
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	14,211	13,961
Allowance for loan losses	14,636	14,557
Allowance for Loan Losses \| Home equity lines of credit
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	207	238
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	3,389	3,293
Allowance for loan losses	3,596	3,531
Allowance for Loan Losses \| Construction and land/lots loans
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	9	68
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	3,002	2,887
Allowance for loan losses	3,011	2,955
Allowance for Loan Losses \| Consumer loans
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	2	2
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	128	127
Allowance for loan losses	130	129
Allowance for Loan Losses \| Commercial real estate loans
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	1,313	407
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	5,983	6,047
Allowance for loan losses	7,296	6,454
Allowance for Loan Losses \| Construction and development loans
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	100	154
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	5,817	6,099
Allowance for loan losses	5,917	6,253
Allowance for Loan Losses \| Commercial and industrial loans
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	109	111
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	188	204
Allowance for loan losses	297	315
Allowance for Loan Losses \| Municipal leases
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	1,004	906
Allowance for loan losses	1,004	906
Allowance for Loan Losses \| Total loans
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	2,165	1,576
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	33,722	33,524
Allowance for loan losses	35,887	35,100
Total Loans Receivable \| One to four family loans
Financing Receivable, Individually Evaluated for Impairment	35,863	36,011
Financing Receivable, Collectively Evaluated for Impairment	575,607	584,475
Loans Receivable Gross	611,470	620,486
Total Loans Receivable \| Home equity lines of credit
Financing Receivable, Individually Evaluated for Impairment	4,566	4,382
Financing Receivable, Collectively Evaluated for Impairment	135,200	138,670
Loans Receivable Gross	139,766	143,052
Total Loans Receivable \| Construction and land/lots loans
Financing Receivable, Individually Evaluated for Impairment	3,002	3,772
Financing Receivable, Collectively Evaluated for Impairment	49,148	49,800
Loans Receivable Gross	52,150	53,572
Total Loans Receivable \| Consumer loans
Financing Receivable, Individually Evaluated for Impairment	3	3
Financing Receivable, Collectively Evaluated for Impairment	3,765	3,816
Loans Receivable Gross	3,768	3,819
Total Loans Receivable \| Commercial real estate loans
Financing Receivable, Individually Evaluated for Impairment	26,545	20,266
Financing Receivable, Collectively Evaluated for Impairment	205,447	218,378
Loans Receivable Gross	231,992	238,644
Total Loans Receivable \| Construction and development loans
Financing Receivable, Individually Evaluated for Impairment	11,354	14,389
Financing Receivable, Collectively Evaluated for Impairment	27,391	27,973
Loans Receivable Gross	38,745	42,362
Total Loans Receivable \| Commercial and industrial loans
Financing Receivable, Individually Evaluated for Impairment	2,705	2,965
Financing Receivable, Collectively Evaluated for Impairment	10,517	11,613
Loans Receivable Gross	13,222	14,578
Total Loans Receivable \| Municipal leases
Financing Receivable, Collectively Evaluated for Impairment	114,691	115,516
Loans Receivable Gross	114,691	115,516
Total Loans Receivable \| Total loans
Financing Receivable, Individually Evaluated for Impairment	84,038	81,788
Financing Receivable, Collectively Evaluated for Impairment	1,121,766	1,150,241
Loans Receivable Gross	$ 1,205,804	$ 1,232,029

3. Loans: Schedule of Impaired Loans and Related Allowance by Segment and Class (Details) - Total Impaired Loans - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
One to four family loans
Impaired Financing Receivable, with Related Allowance, Recorded Investment	$ 8,065	$ 7,787
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	33,123	32,802
Impaired Financing Receivable, Recorded Investment	41,188	40,589
Impaired Financing Receivable, Related Allowance	524	685
Home equity lines of credit
Impaired Financing Receivable, with Related Allowance, Recorded Investment	960	1,163
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	4,312	4,093
Impaired Financing Receivable, Recorded Investment	5,272	5,256
Impaired Financing Receivable, Related Allowance	222	256
Construction and land/lots loans
Impaired Financing Receivable, with Related Allowance, Recorded Investment	223	462
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	2,956	3,440
Impaired Financing Receivable, Recorded Investment	3,179	3,902
Impaired Financing Receivable, Related Allowance	20	75
Consumer loans
Impaired Financing Receivable, with Related Allowance, Recorded Investment	78	73
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	2	3
Impaired Financing Receivable, Recorded Investment	80	76
Impaired Financing Receivable, Related Allowance	2	4
Commercial real estate loans
Impaired Financing Receivable, with Related Allowance, Recorded Investment	7,823	2,281
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	19,370	18,214
Impaired Financing Receivable, Recorded Investment	27,193	20,495
Impaired Financing Receivable, Related Allowance	1,330	413
Construction and development loans
Impaired Financing Receivable, with Related Allowance, Recorded Investment	1,259	1,616
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	10,772	13,461
Impaired Financing Receivable, Recorded Investment	12,031	15,077
Impaired Financing Receivable, Related Allowance	231	289
Commercial and industrial loans
Impaired Financing Receivable, with Related Allowance, Recorded Investment	551	501
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	2,524	2,779
Impaired Financing Receivable, Recorded Investment	3,075	3,280
Impaired Financing Receivable, Related Allowance	114	115
Total impaired loans
Impaired Financing Receivable, with Related Allowance, Recorded Investment	18,959	13,883
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	73,059	74,792
Impaired Financing Receivable, Recorded Investment	92,018	88,675
Impaired Financing Receivable, Related Allowance	$ 2,443	$ 1,837

3. Loans: Impaired Financing Receivable, Policy (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Impaired Loans Not Individually Evaluated	$ 7,980	$ 6,887
Recorded Allowance of Impaired Loans Not Individually Evaluated	$ 278	$ 261

3. Loans: Schedule of Average Recorded Investment in Loans, Unpaid Principal Balance and Interest Income Recognized (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2012	Jun. 30, 2012
One to four family loans
Impaired Financing Receivable, Average Recorded Investment	$ 42,314	$ 42,829
Impaired Financing Receivable, Unpaid Principal Balance	40,568	41,006
Impaired Financing Receivable, Interest Income, Accrual Method	426	1,799
Home equity lines of credit
Impaired Financing Receivable, Average Recorded Investment	5,216	5,531
Impaired Financing Receivable, Unpaid Principal Balance	8,493	8,329
Impaired Financing Receivable, Interest Income, Accrual Method	36	208
Construction and land/lots loans
Impaired Financing Receivable, Average Recorded Investment	4,190	4,926
Impaired Financing Receivable, Unpaid Principal Balance	7,057	8,244
Impaired Financing Receivable, Interest Income, Accrual Method	36	253
Consumer loans
Impaired Financing Receivable, Average Recorded Investment	59	48
Impaired Financing Receivable, Unpaid Principal Balance	97	98
Impaired Financing Receivable, Interest Income, Accrual Method	1	1
Commercial real estate loans
Impaired Financing Receivable, Average Recorded Investment	22,262	21,249
Impaired Financing Receivable, Unpaid Principal Balance	34,200	25,679
Impaired Financing Receivable, Interest Income, Accrual Method	412	1,184
Construction and development loans
Impaired Financing Receivable, Average Recorded Investment	21,052	26,994
Impaired Financing Receivable, Unpaid Principal Balance	19,090	23,070
Impaired Financing Receivable, Interest Income, Accrual Method	142	763
Commercial and industrial loans
Impaired Financing Receivable, Average Recorded Investment	3,184	3,138
Impaired Financing Receivable, Unpaid Principal Balance	4,315	4,535
Impaired Financing Receivable, Interest Income, Accrual Method	42	218
Municipal leases
Impaired Financing Receivable, Average Recorded Investment	389	531
Total impaired loans
Impaired Financing Receivable, Average Recorded Investment	98,666	105,246
Impaired Financing Receivable, Unpaid Principal Balance	113,820	110,961
Impaired Financing Receivable, Interest Income, Accrual Method	$ 1,095	$ 4,426

3. Loans: Schedule of Troubled Debt Restructurings With Payment Default (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2012 USD ($)	Sep. 30, 2011 USD ($)
Total troubled debt restructured loans subsequent default
Troubled Debt Restructuring Subsequent Default Number of Loans	5	14
Troubled Debt Restructuring Subsequent Default Recorded Investment	$ 1,943	$ 3,352
Below market interest rate \| One to four family loans
Troubled Debt Restructuring Subsequent Default Number of Loans	2	1
Troubled Debt Restructuring Subsequent Default Recorded Investment	$ 1,590	$ 275
Below market interest rate \| Home equity lines of credit
Troubled Debt Restructuring Subsequent Default Number of Loans		1
Troubled Debt Restructuring Subsequent Default Recorded Investment		$ 911
Below market interest rate \| Total loans
Troubled Debt Restructuring Subsequent Default Number of Loans	2	2
Troubled Debt Restructuring Subsequent Default Recorded Investment	$ 1,590	$ 1,186
Extended payment terms \| One to four family loans
Troubled Debt Restructuring Subsequent Default Number of Loans	2	6
Troubled Debt Restructuring Subsequent Default Recorded Investment	$ 106	$ 386
Extended payment terms \| Total loans
Troubled Debt Restructuring Subsequent Default Number of Loans	2	11
Troubled Debt Restructuring Subsequent Default Recorded Investment	$ 106	$ 1,939
Extended payment terms \| Construction and land/lots loans
Troubled Debt Restructuring Subsequent Default Number of Loans		1
Troubled Debt Restructuring Subsequent Default Recorded Investment		$ 346
Extended payment terms \| Commercial real estate loans
Troubled Debt Restructuring Subsequent Default Number of Loans		3
Troubled Debt Restructuring Subsequent Default Recorded Investment		$ 914
Extended payment terms \| Construction and development loans
Troubled Debt Restructuring Subsequent Default Number of Loans		1
Troubled Debt Restructuring Subsequent Default Recorded Investment		$ 293
Other Troubled Debt Restructurings \| One to four family loans
Troubled Debt Restructuring Subsequent Default Number of Loans		1
Troubled Debt Restructuring Subsequent Default Recorded Investment		$ 227
Other Troubled Debt Restructurings \| Total loans
Troubled Debt Restructuring Subsequent Default Number of Loans	1	1
Troubled Debt Restructuring Subsequent Default Recorded Investment	$ 247	$ 227
Other Troubled Debt Restructurings \| Commercial real estate loans
Troubled Debt Restructuring Subsequent Default Number of Loans	1
Troubled Debt Restructuring Subsequent Default Recorded Investment	$ 247

4. Employee Stock Ownership Plan: Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity (Details) $ in Thousands	Sep. 30, 2012 USD ($) shares
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares	1,044,775
Employee Stock Ownership Plan (ESOP), Number of Committed-to-be-Released Shares	13,225
Employee Stock Ownership Plan (ESOP), Shares in ESOP	1,058,000
Employee Stock Ownership Plan (ESOP), Deferred Shares, Fair Value \| $	$ 13,843

5. Commitments and Contingencies: Loan Commitments, Policy (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2012	Jun. 30, 2012
Loans Receivable Commitment Undisbursed Portions of Construction Loans	$ 14,873	$ 22,518
Loans Receivable Outstanding Commitment to Extend Credit	33,853	44,736
Loans Receivable Commitments with Variable Rate	4,099	5,322
Loans Receivable Commitments with Fixed Rate	$ 29,754	$ 39,413
Loan Commitments with Fixed Rate Interest Rate Range	2.50% (unaudited) to 7.75% (unaudited)	3.59% to 5.75%
Pre-approved but Unused Lines of Credit	$ 154,260	$ 154,283

5. Commitments and Contingencies: Restrictions on Cash Policy (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Cash Reserve Deposit Required and Made	$ 1,056	$ 1,466

5. Commitments and Contingencies: Standby Letters of Credit Policy (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Letters of Credit Outstanding, Amount	$ 252	$ 75

6. Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Estimate of Fair Value, Fair Value Disclosure \| US Government Agencies
Assets, Fair Value Disclosure, Recurring	$ 5,999	$ 6,102
Estimate of Fair Value, Fair Value Disclosure \| Mortgage-backed Securities, Issued by US Government Sponsored Enterprises
Assets, Fair Value Disclosure, Recurring	24,535	25,233
Estimate of Fair Value, Fair Value Disclosure \| Total fair value assets recurring
Assets, Fair Value Disclosure, Recurring	30,534	31,335
Fair Value, Inputs, Level 2 \| US Government Agencies
Assets, Fair Value Disclosure, Recurring	5,999	6,102
Fair Value, Inputs, Level 2 \| Mortgage-backed Securities, Issued by US Government Sponsored Enterprises
Assets, Fair Value Disclosure, Recurring	24,535	25,233
Fair Value, Inputs, Level 2 \| Total fair value assets recurring
Assets, Fair Value Disclosure, Recurring	$ 30,534	$ 31,335

6. Fair Value of Financial Instruments: Schedule of Fair Value Measurements, Nonrecurring (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Estimate of Fair Value, Fair Value Disclosure \| Impaired loans
Assets, Fair Value Disclosure, Nonrecurring	$ 3,298	$ 30,585
Estimate of Fair Value, Fair Value Disclosure \| Other real estate owned
Assets, Fair Value Disclosure, Nonrecurring	791	12,093
Estimate of Fair Value, Fair Value Disclosure \| Total fair value nonrecurring
Assets, Fair Value Disclosure, Nonrecurring	4,089	42,678
Fair Value, Inputs, Level 3 \| Impaired loans
Assets, Fair Value Disclosure, Nonrecurring	3,298	30,585
Fair Value, Inputs, Level 3 \| Other real estate owned
Assets, Fair Value Disclosure, Nonrecurring	791	12,093
Fair Value, Inputs, Level 3 \| Total fair value nonrecurring
Assets, Fair Value Disclosure, Nonrecurring	$ 4,089	$ 42,678

6. Fair Value of Financial Instruments: Schedule of Quantitative Information About Level 3 Fair Value Measurements (Details) - Nonrecurring measurements $ in Thousands	3 Months Ended
	Sep. 30, 2012 USD ($)
Impaired loans, net
Assets, Fair Value Disclosure, Nonrecurring	$ 3,298
Level 3 Fair Value Measurements Valuation Techniques	Discounted Appraisals
Level 3 Fair Value Measurements Unobservable Input	Collateral discounts
Level 3 Fair Value Measurements Range	5%-40%
Foreclosed real estate
Assets, Fair Value Disclosure, Nonrecurring	$ 791
Level 3 Fair Value Measurements Valuation Techniques	Discounted Appraisals
Level 3 Fair Value Measurements Unobservable Input	Collateral discounts
Level 3 Fair Value Measurements Range	10%-15%

6. Fair Value of Financial Instruments: Schedule of Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Fair Value, Inputs, Level 1 \| Cash and interest-bearing deposits
Financial Instruments Owned	$ 117,717	$ 224,801
Fair Value, Inputs, Level 1 \| Federal Home Loan Bank stock
Financial Instruments Owned	3,047	6,300
Fair Value, Inputs, Level 2 \| Certificates of deposit in other banks
Financial Instruments Owned	122,245	108,010
Fair Value, Inputs, Level 2 \| Securities available for sale
Financial Instruments Owned	30,534	31,335
Fair Value, Inputs, Level 2 \| Loans, net
Financial Instruments Owned	1,050,927	1,105,974
Fair Value, Inputs, Level 2 \| Loans held for sale
Financial Instruments Owned	19,407	10,949
Fair Value, Inputs, Level 2 \| Accrued interest receivable
Financial Instruments Owned	6,206	6,008
Fair Value, Inputs, Level 2 \| Noninterest-bearing and NOW deposits
Financial Instruments Owned	239,329	230,683
Fair Value, Inputs, Level 2 \| Money market accounts
Financial Instruments Owned	259,844	257,865
Fair Value, Inputs, Level 2 \| Savings accounts
Financial Instruments Owned	77,133	347,669
Fair Value, Inputs, Level 2 \| Certificates of deposit
Financial Instruments Owned	587,810	634,379
Fair Value, Inputs, Level 2 \| Other borrowings
Financial Instruments Owned	15,519	24,998
Fair Value, Inputs, Level 2 \| Accrued interest payable
Financial Instruments Owned	166	242
Fair Value, Inputs, Level 3 \| Loans, net
Financial Instruments Owned	52,753	49,455
Financial Instruments Owned Carrying Value \| Cash and interest-bearing deposits
Financial Instruments Owned	117,717	224,801
Financial Instruments Owned Carrying Value \| Certificates of deposit in other banks
Financial Instruments Owned	122,245	108,010
Financial Instruments Owned Carrying Value \| Securities available for sale
Financial Instruments Owned	30,534	31,335
Financial Instruments Owned Carrying Value \| Loans, net
Financial Instruments Owned	1,167,134	1,204,732
Financial Instruments Owned Carrying Value \| Loans held for sale
Financial Instruments Owned	19,120	10,787
Financial Instruments Owned Carrying Value \| Federal Home Loan Bank stock
Financial Instruments Owned	3,047	6,300
Financial Instruments Owned Carrying Value \| Accrued interest receivable
Financial Instruments Owned	6,206	6,008
Financial Instruments Owned Carrying Value \| Noninterest-bearing and NOW deposits
Financial Instruments Owned	239,329	230,683
Financial Instruments Owned Carrying Value \| Money market accounts
Financial Instruments Owned	259,844	257,865
Financial Instruments Owned Carrying Value \| Savings accounts
Financial Instruments Owned	77,133	347,669
Financial Instruments Owned Carrying Value \| Certificates of deposit
Financial Instruments Owned	584,003	629,958
Financial Instruments Owned Carrying Value \| Other borrowings
Financial Instruments Owned	14,225	22,265
Financial Instruments Owned Carrying Value \| Accrued interest payable
Financial Instruments Owned	166	242
Portion at Fair Value, Fair Value Disclosure \| Cash and interest-bearing deposits
Financial Instruments Owned	117,717	224,801
Portion at Fair Value, Fair Value Disclosure \| Certificates of deposit in other banks
Financial Instruments Owned	122,245	108,010
Portion at Fair Value, Fair Value Disclosure \| Securities available for sale
Financial Instruments Owned	30,534	31,335
Portion at Fair Value, Fair Value Disclosure \| Loans, net
Financial Instruments Owned	1,103,680	1,155,429
Portion at Fair Value, Fair Value Disclosure \| Loans held for sale
Financial Instruments Owned	19,407	10,949
Portion at Fair Value, Fair Value Disclosure \| Federal Home Loan Bank stock
Financial Instruments Owned	3,047	6,300
Portion at Fair Value, Fair Value Disclosure \| Accrued interest receivable
Financial Instruments Owned	6,206	6,008
Portion at Fair Value, Fair Value Disclosure \| Noninterest-bearing and NOW deposits
Financial Instruments Owned	239,329	230,683
Portion at Fair Value, Fair Value Disclosure \| Money market accounts
Financial Instruments Owned	259,844	257,865
Portion at Fair Value, Fair Value Disclosure \| Savings accounts
Financial Instruments Owned	77,133	347,669
Portion at Fair Value, Fair Value Disclosure \| Certificates of deposit
Financial Instruments Owned	587,810	634,379
Portion at Fair Value, Fair Value Disclosure \| Other borrowings
Financial Instruments Owned	15,519	24,998
Portion at Fair Value, Fair Value Disclosure \| Accrued interest payable
Financial Instruments Owned	$ 166	$ 242

6. Fair Value of Financial Instruments: Off-Balance-Sheet Credit Exposure, Policy (Details) - USD ($) $ in Thousands	Sep. 30, 2012	Jun. 30, 2012
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability	$ 202,986	$ 213,979

3. Loans: Schedule of Debtor Troubled Debt Restructuring, Current Period (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2012 USD ($)	Sep. 30, 2011 USD ($)
Total troubled debt restructured loans
Troubled Debt Restructuring Number of Loans	3	28
Troubled Debt Restructuring Pre-Modification Outstanding Recorded Investment	$ 407	$ 6,174
Troubled Debt Restructuring Post-Modification Outstanding Recorded Investment	$ 406	$ 6,040
Below market interest rate \| One to four family loans
Troubled Debt Restructuring Number of Loans	2	9
Troubled Debt Restructuring Pre-Modification Outstanding Recorded Investment	$ 171	$ 2,543
Troubled Debt Restructuring Post-Modification Outstanding Recorded Investment	$ 170	$ 2,543
Below market interest rate \| Commercial real estate loans
Troubled Debt Restructuring Number of Loans	1
Troubled Debt Restructuring Pre-Modification Outstanding Recorded Investment	$ 236
Troubled Debt Restructuring Post-Modification Outstanding Recorded Investment	$ 236
Below market interest rate \| Total loans
Troubled Debt Restructuring Number of Loans	3	9
Troubled Debt Restructuring Pre-Modification Outstanding Recorded Investment	$ 407	$ 2,543
Troubled Debt Restructuring Post-Modification Outstanding Recorded Investment	$ 406	$ 2,543
Extended payment terms \| One to four family loans
Troubled Debt Restructuring Number of Loans		12
Troubled Debt Restructuring Pre-Modification Outstanding Recorded Investment		$ 2,336
Troubled Debt Restructuring Post-Modification Outstanding Recorded Investment		$ 2,202
Extended payment terms \| Commercial real estate loans
Troubled Debt Restructuring Number of Loans		1
Troubled Debt Restructuring Pre-Modification Outstanding Recorded Investment		$ 8
Troubled Debt Restructuring Post-Modification Outstanding Recorded Investment		$ 8
Extended payment terms \| Total loans
Troubled Debt Restructuring Number of Loans		15
Troubled Debt Restructuring Pre-Modification Outstanding Recorded Investment		$ 2,588
Troubled Debt Restructuring Post-Modification Outstanding Recorded Investment		$ 2,454
Extended payment terms \| Construction and land/lots loans
Troubled Debt Restructuring Number of Loans		1
Troubled Debt Restructuring Pre-Modification Outstanding Recorded Investment		$ 158
Troubled Debt Restructuring Post-Modification Outstanding Recorded Investment		$ 158
Extended payment terms \| Commercial and industrial loans
Troubled Debt Restructuring Number of Loans		1
Troubled Debt Restructuring Pre-Modification Outstanding Recorded Investment		$ 86
Troubled Debt Restructuring Post-Modification Outstanding Recorded Investment		$ 86
Other Troubled Debt Restructurings \| One to four family loans
Troubled Debt Restructuring Number of Loans		2
Troubled Debt Restructuring Pre-Modification Outstanding Recorded Investment		$ 276
Troubled Debt Restructuring Post-Modification Outstanding Recorded Investment		$ 276
Other Troubled Debt Restructurings \| Commercial real estate loans
Troubled Debt Restructuring Number of Loans		2
Troubled Debt Restructuring Pre-Modification Outstanding Recorded Investment		$ 767
Troubled Debt Restructuring Post-Modification Outstanding Recorded Investment		$ 767
Other Troubled Debt Restructurings \| Total loans
Troubled Debt Restructuring Number of Loans		4
Troubled Debt Restructuring Pre-Modification Outstanding Recorded Investment		$ 1,043
Troubled Debt Restructuring Post-Modification Outstanding Recorded Investment		$ 1,043