Note 10: Employee Benefits: 401(k) Retirement Plan Policy (Policies)

12 Months Ended

Jun. 30, 2014

Policies

401(k) Retirement Plan Policy

401(k) Retirement Plan. The Bank has a 401(k) retirement plan that covers substantially all eligible employees.  During fiscal 2012, the Bank amended the plan to make “safe harbor” matching contributions of up to 4% of eligible compensation, depending upon the percentage of eligible pay deferred into the plan by the employee.  Additional profit-sharing contributions of 4% of eligible salary have been accrued for the plan year ended June 30, 2014, based on financial performance for fiscal 2014.  Total 401(k) expense for fiscal 2014, 2013, and 2012 was $485,000, $446,000, and $413,000, respectively.  At June 30, 2014, 401(k) plan participants held approximately 214,000 shares of the Company’s stock in the plan.  Employee deferrals and safe harbor contributions are fully vested.  Profit-sharing or other contributions vest over a period of five years.