Note 8: Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)

6 Months Ended

Dec. 31, 2013

Tables/Schedules

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of income tax expense at the statutory rate to the Company’s actual income tax is shown below:

	For the three-month period ended		For the six-month period ended
	December 31, 2013	December 31, 2012	December 31, 2013	December 31, 2012
Tax at statutory rate	$1,181,934	$1,205,574	$2,401,353	$2,474,162
Increase (reduction) in taxes       resulting from:
Nontaxable municipal income	(133,668)	(128,391)	(262,244)	(252,659)
State tax, net of Federal benefit	71,280	84,480	152,460	176,880
Cash surrender value of                   Bank-owned life insurance	(44,088)	(43,764)	(87,918)	(86,543)
Tax credit benefits	(81,424)	(56,654)	(162,849)	(113,310)
Other, net	(36,587)	3,641	(59,909)	7,242
Actual provision	$957,447	$1,064,886	$1,980,894	$2,205,772