Mortgage Banking Activities (Tables)

12 Months Ended

Jun. 30, 2013

Business Combinations [Abstract]

Originated Mortgage Servicing Rights Capitalized and Amortized

Originated mortgage servicing rights capitalized and amortized during the years ended June 30, 2013, 2012 and 2011 were as follows:

	2013			2012			2011
Servicing rights:
Beginning of period	$	6,867,334		$	7,519,287		$	6,960,969
Additions		4,309,341			3,473,077			3,862,505
Amortized to expense		(3,780,263	)		(3,612,550	)		(3,000,186	)
Change in valuation allowance for impairment		(178,087	)		(512,480	)		(304,001	)
End of period	$	7,218,325		$	6,867,334		$	7,519,287

Activity in Valuation Allowance for Mortgage Servicing Rights

Activity in the valuation allowance for mortgage servicing rights over the years ended June 30, 2013, 2012 and 2011 was as follows:

	2013			2012			2011
Balance, beginning of period	$	(816,481	)	$	(304,001	)	$	0
Impairment charges		(765,858	)		(698,468	)		(1,183,799	)
Impairment recoveries		587,771			185,988			879,798
Balance, end of period	$	(994,568	)	$	(816,481	)	$	(304,001	)

Mortgage Banking Activities

Mortgage banking activities, net, as presented in the consolidated statements of operations consisted of the following:

	Twelve months ended June 30,
	2013			2012			2011
Mortgage loan servicing fees	$	2,718,150		$	2,314,186		$	2,580,089
Amortization of mortgage servicing rights		(3,780,263	)		(3,612,550	)		(3,000,186	)
Recovery (impairment) of mortgage servicing rights		(178,087	)		(512,480	)		(304,001	)
Mortgage loan servicing (loss), net		(1,240,200	)		(1,810,844	)		(724,098	)
Changes in fair value of loans held for sale		(19,237	)		556,778			(142,208	)
Changes in fair value of mortgage banking derivatives		(964,244	)		1,370,796			(438,949	)
Realized gains on sale of loans		13,679,113			9,020,634			7,920,334
Mortgage banking activities, net	$	11,455,432		$	9,137,364		$	6,615,079