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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2018
Interest Income:      
Loans $ 102,129 $ 92,328 $ 73,122
Investment securities 1,992 2,323 2,166
Mortgage-backed securities 2,802 2,704 1,817
Other interest-earning assets 129 127 69
TOTAL INTEREST INCOME 107,052 97,482 77,174
Interest Expense:      
Deposits 24,084 21,208 12,825
Securities sold under agreements to repurchase   36 37
Advances from FHLB 1,932 2,377 1,041
Note payable 112 158 121
Subordinated debt 788 921 767
TOTAL INTEREST EXPENSE 26,916 24,700 14,791
NET INTEREST INCOME 80,136 72,782 62,383
Provision for loan losses (Note 3) 6,002 2,032 3,047
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 74,134 70,750 59,336
Noninterest income:      
Deposit account charges and related fees 5,680 5,005 4,584
Bank card interchange income 3,073 2,581 2,273
Loan Late Charges 573 463 432
Loan Servicing Fees 196 376 801
Other Loan Fees 1,258 1,360 1,467
Net realized gains on sale of loans 1,630 771 804
Net realized gains on sale of AFS securities   244 334
Earnings on bank owned life insurance 1,021 1,329 947
Other income 1,319 964 727
TOTAL NONINTEREST INCOME 14,750 13,093 12,369
Noninterest expense:      
Compensation and benefits 29,336 26,379 23,302
Occupancy and equipment, net 7,288 6,586 6,356
Data processing expense 5,173 3,545 2,963
Telecommunications expense 1,263 1,137 950
Deposit insurance premiums 155 661 517
Legal and professional fees 969 965 1,178
Advertising 1,227 1,161 1,197
Postage and office supplies 804 772 729
Intangible amortization 1,771 1,672 1,457
Foreclosed property expenses/losses 992 442 186
Provision for off balance sheet credit exposure 648 149 58
Other operating expense 4,826 4,423 4,080
TOTAL NONINTEREST EXPENSE 54,452 47,892 42,973
INCOME BEFORE INCOME TAXES 34,432 35,951 28,732
Current 6,890 6,972 8,333
Deferred (3) 75 (530)
Income Taxes (Note 12) 6,887 7,047 7,803
NET INCOME $ 27,545 $ 28,904 $ 20,929
Basic earnings per share available to common stockholders $ 3.00 $ 3.14 $ 2.40
Diluted earnings per share available to common stockholders 2.99 3.14 2.39
Dividends paid $ 0.60 $ 0.52 $ 0.44