NOTE 12: Income Taxes: Reconciliation of Income Tax Expense at the Statutory Rate to Actual Income Tax (Tables)

12 Months Ended

Jun. 30, 2019

Tables/Schedules

Reconciliation of Income Tax Expense at the Statutory Rate to Actual Income Tax

	For the year ended June 30
(dollars in thousands)	2019	2018	2017
Tax at statutory rate	$                                7,550	$                                8,074	$                                         7,565
Increase (reduction) in taxes       resulting from:
Nontaxable municipal income	(400)	(441)	(513)
State tax, net of Federal benefit	487	553	215
Cash surrender value of                   Bank-owned life insurance	(279)	(266)	(397)
Tax credit benefits	(270)	(871)	(367)
Adjustment of deferred tax asset                   for enacted changes in tax laws	-	1,124	-
Other, net	(41)	(370)	(441)
Actual provision	$                                7,047	$                                7,803	$                                         6,062