Related Party Transactions

12 Months Ended

Jun. 30, 2015

Note 13:

Related Party Transactions

At June 30, 2015 and 2014, the Company had loans outstanding to executive officers, directors, significant members and their affiliates (related parties). Changes in loans to executive officers and directors are summarized as follows:


	2015			2014

Balance, beginning of year	$	4,519		$	5,034
New loans		421			107
Repayments		(1,121	)		(622	)


Balance, end of year	$	3,819		$	4,519

Deposits from related parties held by the Company at June 30, 2015 and 2014 totaled $1,421,000 and $1,077,000, respectively.

In management’s opinion, such loans and other extensions of credit and deposits were made in the ordinary course of business and were made on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with other persons. Further, in management’s opinion, these loans did not involve more than normal risk of collectibility or present other unfavorable features.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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