Operating Leases

12 Months Ended

Jun. 30, 2012

Note 14. Operating Leases

The Bank of Greene County has non-cancelable lease commitments for three branch locations. These leases include obligations for real estate taxes, insurance and maintenance expenses. Total lease expense was $67,000 and $67,000 for the years ended June 30, 2012 and 2011, respectively. Minimum non-cancelable lease commitments for future years ending June 30 are as follows:

(In thousands)
Fiscal year end	Annual Lease Payments
2013	$65
2014	69
2015	70
2016	52
2017	41
Thereafter	20
Total payments	$317

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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