Year ended June 30,

Condensed Statements of Income and Comprehensive Income

2013

2012

2011

Interest income

$311,013

$110,741

$17,438

Interest expense

227,127

232,154

226,776

Net interest income (expense)

83,886

(121,413)

(209,338)

Dividends from Bank

3,000,000

2,700,000

2,000,000

Operating expenses

368,747

410,759

325,857

Income before income taxes and equity

in undistributed income of the Bank

2,715,139

2,167,828

1,464,805

Income tax benefit

107,000

199,000

170,100

Income before equity in undistributed

income of the Bank

2,822,139

2,366,828

1,634,905

Equity in undistributed income of the Bank

7,245,076

7,731,435

9,835,126

NET INCOME

$10,067,215

$10,098,263

$11,470,031

COMPREHENSIVE INCOME

$9,188,374

$10,262,544

$11,417,687