Note 3: Loans and Allowance For Loan Losses: Loans and Leases Receivable, Troubled Debt Restructuring Policy (Policies)

12 Months Ended

Jun. 30, 2015

Policies

Loans and Leases Receivable, Troubled Debt Restructuring Policy

At June 30, 2015, and June 30, 2014, the Company had $4.7 million and $2.9 million, respectively, of commercial real estate loans, $602,000 and $1.8 million, respectively, of residential real estate loans, and $1.3 million and $125,000, respectively, of commercial loans that were modified in TDRs and impaired.  All loans classified as TDRs at June 30, 2015, and June 30, 2014, were so classified due to interest rate concessions.  During Fiscal 2015, three commercial real estate loans totaling $1.7 million, two commercial loans totaling $1.2 million, and four residential real estate loans totaling $542,000 were modified as TDRs and had payment defaults subsequent to the modification.  When loans modified as TDRs have subsequent payment defaults, the defaults are factored into the determination of the allowance for loan losses to ensure specific valuation allowance reflect amounts considered uncollectible.