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

3 Months Ended

Mar. 31, 2014

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 nine-month period ended
	March 31, 2014	March 31, 2013	March 31, 2014	March 31, 2013
Tax at statutory rate	$1,028,253	$1,144,766	$3,429,606	$3,618,928
Increase (reduction) in taxes       resulting from:
Nontaxable municipal income	(132,788)	(127,011)	(395,031)	(379,671)
State tax, net of Federal benefit	59,400	80,520	211,860	257,400
Cash surrender value of                   Bank-owned life insurance	(42,753)	(42,765)	(130,670)	(129,307)
Tax credit benefits	(81,424)	(114,223)	(244,273)	(227,533)
Other, net	(49,241)	(40,438)	(109,151)	(33,196)
Actual provision	$781,447	$900,849	$2,762,341	$3,106,621