Note 9: 401(k) Retirement Plan

3 Months Ended

Sep. 30, 2015

Notes

Note 9: 401(k) Retirement Plan

Note 9:  401(k) Retirement Plan

The Bank has a 401(k) retirement plan that covers substantially all eligible employees. The Bank makes “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 were accrued for the plan year ended June 30, 2015, based on the financial performance for fiscal 2015.  During the three-month period ended September 30, 2015, retirement plan expenses recognized for the Plan totaled approximately $213,000, as compared to $166,000 for the same period of the prior fiscal year.