Provision for Income Taxes (Tables)

12 Months Ended

Jun. 30, 2012

Provision For Income Taxes Tables

Schedule of components of the provision for income taxes

	2012			2011
Current tax expense - federal	$	1,785,633		$	1,480,465
Current tax expense - state		17,020			31,425
Deferred tax expense		(111,465	)		12,115
Provision for income taxes	$	1,691,188		$	1,524,005

Schedule of effective income tax rates

	2012			2011
U.S. federal statutory income tax rate		34.0	%		34.0	%
Increase (reduction) in rate resulting from:
State franchise tax, net of federal income tax benefit		0.1			0.4
ESOP cost versus Fair Market Value		1.2			1.2
Dividend on allocated ESOP shares		(4.3	)		(4.8	)
Qualified production activities		(2.9	)		(2.7	)
Stock-based compensation		(0.2	)		0.2
Other		(0.1	)		—
Effective tax rate		27.8	%		28.3	%

Schedule of deferred tax assets and liabilities

	2012		2011
Deferred tax assets:
Accrued expenses	$	333,592	$	306,965
ESOP		121,314		116,981
Stock-based compensation		15,697		10,874
Inventory - effect on uniform capitalization		70,788		37,535
Other		3,715		5,180
Total deferred tax assets		545,106		477,535
Deferred tax liabilities:
Unrealized gain on investment securities		795		—
Property, plant and equipment - principally due
to differences in depreciation methods		343,817		387,709
Total deferred tax liabilities		344,612		387,709
Net deferred tax asset	$	200,494	$	89,826