PARENT COMPANY (Tables)

12 Months Ended

Jun. 30, 2012

Condensed Statements of Financial Condition

CONDENSED STATEMENTS OF FINANCIAL CONDITION

	2012		2011
Cash and amounts due from depository institutions	$	348,883	$	2,940,911
Prepaid expenses and other assets		2,817,484		2,782,936
Investment in Bank subsidiary		69,915,230		68,031,126
Investment in non-Bank subsidiaries		5,915,618		5,171,655
Total assets	$	78,997,215	$	78,926,628
Accrued expenses and other liabilities	$	8,266,594	$	7,644,647
Stockholders' equity		70,730,621		71,281,981
Total liabilities and stockholders' equity	$	78,997,215	$	78,926,628

Condensed Statements of Operations

CONDENSED STATEMENTS OF OPERATIONS

	2012			2011			2010
Income:
Mortgage banking activities	$	—		$	—		$	5,468
Gain on cancellation of subordinated debt		—			—			17,627,438
		—			—			17,632,906
Expenses:
Interest expense		—			—			574,499
General and administrative		331,883			385,073			656,058
		331,883			385,073			1,230,557
Income (loss) before federal income taxes and equity in undistributed net income of subsidiaries		(331,883	)		(385,073	)		16,402,349
Federal income tax benefit (expense)		152,455			130,924			(5,576,799	)
Income (loss) before equity in undistributed net income of subsidiaries		(179,428	)		(254,149	)		10,825,550
Equity in undistributed net income (loss) of subsidiaries		(1,151,649	)		(9,436,971	)		(9,384,693	)
Net income (loss)	$	(1,331,077	)	$	(9,691,120	)	$	1,440,857

Condensed Statements of Cash Flows

CONDENSED STATEMENTS OF CASH FLOWS

	2012			2011			2010
Operating activities:
Net income (loss)	$	(1,331,077	)	$	(9,691,120	)	$	1,440,857
Equity in undistributed net loss (income) of subsidiaries		1,151,649			9,436,971			9,384,694
Gain on cancellation of subordinated debt		—			—			(17,627,438	)
Other, net		1,350,759			(128,778	)		6,712,933
Net cash from (used in) operating activities		1,171,331			(382,927	)		(88,954	)
Investing activities:
Advance to subsidiary		(763,359	)		(1,102,217	)		1,426,000
Investment in subsidiary		(3,000,000	)		(4,000,000	)		(20,000,000	)
Net decrease in cash from investing activities		(3,763,359	)		(5,102,217	)		(18,574,000	)
Financing activities:
Payment in exchange for cancellation of subordinated debt		—			—			(900,000	)
Proceeds from common stock issuance		—			—			27,964,061
Net cash from (used in) financing activities		—			—			27,064,061
Net increase (decrease) in cash and cash equivalents		(2,592,028	)		(5,485,144	)		8,401,107
Cash and cash equivalents at beginning of year		2,940,911			8,426,055			24,948
Cash and cash equivalents at end of year	$	348,883		$	2,940,911		$	8,426,055