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Fair Value (Tables)
 9 Months Ended
Mar. 31, 2013
Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis at March 31, 2013 and June 30, 2012, respectively, are summarized below:

 

     March 31,
2013		     Quoted Prices in
Active  Markets for
Identical Assets
(Level 1)		      Significant Other
Observable  Inputs
(Level 2)		     Significant
Unobservable
Inputs
(Level 3)		  

Assets:

          

Securities available for sale:

          

FNMA structured note

    $ —        $ —         $ —        $ —     

Trust preferred securities

      20,433,603        —           20,433,603        —     

Mortgage-backed GSE securities

      20,985,802        —           20,985,802        —     

Loans held-for-sale

      9,348,347        —           9,348,347        —     

Interest rate-lock commitments

      1,625,572        —           1,625,572        —     

Liabilities:

          

Mandatory forward sales contracts

      (77,959 )      —           (77,959 )      —     

 

     June 30,
2012		     Quoted Prices in
Active  Markets for
Identical Assets
(Level 1)		      Significant Other
Observable  Inputs
(Level 2)		     Significant
Unobservable
Inputs
(Level 3)		  

Assets:

          

Securities available for sale:

          

FNMA structured note

    $ 2,009,320      $ —         $ 2,009,320      $ —     

Trust preferred securities

      21,261,762        —           21,261,762        —     

Mortgage-backed GSE securities

      15,386,963        —           15,386,963        —     

Loans held-for-sale

      25,062,786        —           25,062,786        —     

Interest rate-lock commitments

      1,773,453        —           1,773,453        —     

Liabilities:

          

Mandatory forward sales contracts

      (117,718 )      —           (117,718 )      —  
Assets Measured at Fair Value on Nonrecurring Basis

Assets measured at fair value on a nonrecurring basis at March 31, 2013 and June 30, 2012, respectively are summarized below:

 

     March 31,
2013		      Quoted Prices in
Active  Markets for
Identical Assets
(Level 1)		      Significant Other
Observable  Inputs
(Level 2)		      Significant
Unobservable
Inputs
(Level 3)		  

Assets:

            

Impaired loans

            

1-4 Family

    $ 3,801,913       $ —         $ —         $ 3,801,913   

1-4 Family Construction

      521,363         —           —           521,363   

Multi-Family

      —           —           —           —     

Commercial Real Estate

      4,384,564         —           —           4,384,564   

Commercial Non-Real Estate

      585,042         —           —           585,042   

Land

      3,152,861         —           —           3,152,861   

Real estate owned

            

1-4 Family

      2,381,281         —           —           2,381,281   

Commercial Real Estate

      1,893,521         —           —           1,893,521   

Land

      2,976,361         —           —           2,976,361   

Impaired mortgage servicing rights

      6,561,862         —           6,561,862         —     

 

     June 30,
2012		      Quoted Prices in
Active  Markets for
Identical Assets
(Level 1)		      Significant Other
Observable  Inputs
(Level 2)		      Significant
Unobservable
Inputs
(Level 3)		  

Assets:

            

Impaired loans

            

1-4 Family

    $ 4,033,385       $ —         $ —         $ 4,033,385   

1-4 Family Construction

      660,862         —           —           660,862   

Multi-Family

      324,974         —           —           324,974   

Commercial Real Estate

      5,688,747         —           —           5,688,747   

Commercial Non-Real Estate

      238,229         —           —           238,229   

Land

      4,223,074         —           —           4,223,074   

Real estate owned

            

1-4 Family

      2,042,573         —           —           2,042,573   

Commercial Real Estate

      923,262         —           —           923,262   

Land

      2,914,174         —           —           2,914,174   

Impaired mortgage servicing rights

      6,499,157         —           6,499,157         —     
Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Non-Recurring Basis

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at March 31, 2013:

 

     Fair value at
March 31, 2013		      Valuation
Techniques		    Unobservable
Inputs		    Range and
Weighted
Average

Impaired loans

    $ 12,445,743       Appraisal value -
sales comparison
approach		    Adjustment by
management to
reflect current
conditions and
selling costs		    10-15%
and 12%

Real estate owned

      7,251,163       Appraisal value -
sales comparison
approach		    Adjustment by
mangagement
to reflect
current
conditions and
selling costs		    9-10%
and 10%
Aggregate Fair Value, Contractual Balance (Including Accrued Interest), and Gain or Loss Loans Held for Sale

As of March 31, 2013 and June 30, 2012, the aggregate fair value, contractual balance (including accrued interest), and gain or loss loans held for sale was as follows: 

     March 31,
2013		      June 30,
2012		  

Aggregate fair value

    $ 9,348,387       $ 25,062,786   

Contractual balance

      9,070,294         24,324,044   

Gain (loss)

      278,093         738,742   
Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at March 31, 2013 are as follows:

 

     Carrying     Fair Value Measurements at March 31, 2013  
     Value     Level 1     Level 2     Level 3      Total  
     (dollars in thousands)  

Assets:

            

Cash and amounts due from financial institutions

    $ 19,869      $ 19,869      $ —        $ —         $ 19,869   

Interest-bearing deposits

      80,125        80,125        —          —           80,125   

Securities available for sale

      41,419        —          41,419        —           41,419   

Loans receivable, net

      547,216        —          —          563,543         563,543   

Loans receivable held for sale, net

      9,348        —          9,348        —           9,348   

Federal Home Loan Bank stock

      12,811        N/A        N/A        N/A         N/A   

Accrued interest receivable

      2,165        —          123        2,042         2,165   

Commitments to make loans intended to be sold

      1,626        —          1,626        —           1,626   

Liabilities:

            

Demand deposits and savings

      (297,912 )      (297,912 )      —          —           (297,912 ) 

Time deposits

      (323,256 )      —          (325,192 )      —           (325,192 ) 

Notes payable

      (966 )      —          (966 )      —           (966 ) 

Advances from the Federal Home Loan Bank

      (35,000 )      —          (36,864 )      —           (36,864 ) 

Mandatory forward sale contract

      (78 )      (78 )      —          —           (78 ) 

Accrued interest payable

      (121 )      (33 )      (88 )         (121 ) 

 

The carrying amount and estimated fair values of financial instruments at June 30, 2012 were as follows:

 

           Fair Value Measurements at June 30, 2012  
     Carrying
Value		     Level 1     Level 2     Level 3      Total  
     (dollars in thousands)  

Assets:

            

Cash and amounts due from financial institutions

    $ 5,841      $ 5,841      $ —        $ —         $ 5,841   

Interest-bearing deposits

      114,270        114,270        —          —           114,270   

Securities available for sale

      38,658        —          38,658        —           38,658   

Loans receivable, net

      541,628        —          —          569,603         569,603   

Loans receivable held for sale, net

      25,063        —          25,063        —           25,063   

Federal Home Loan Bank stock

      12,811        N/A        N/A        N/A         N/A   

Accrued interest receivable

      2,047        —          174        1,873         2,047   

Commitments to make loans intended to be sold

      1,773        —          1,773        —           1,773   

Liabilities:

            

Demand deposits and savings

      (271,412 )      (271,412 )      —          —           (271,412 ) 

Time deposits

      (384,567 )      —          (385,872 )      —           (385,872 ) 

Notes payable

      (1,046 )      —          (1,046 )      —           (1,046 ) 

Advances from the Federal Home Loan Bank

      (35,000 )      —          (37,222 )      —           (37,222 ) 

Mandatory forward sale contract

      (118 )      —          (118 )      —           (118 ) 

Accrued interest payable

      (120 )      (112 )      (8 )      —           (120 )