| United States of America        | 61-1484858                           |
|---------------------------------|--------------------------------------|
| (State or other jurisdiction of | (I.R.S. Employer Identification No.) |
| incorporation or organization)  |                                 |

| Large accelerated filer o                     | Accelerated filer o         |
|-----------------------------------------------|-----------------------------|
| Non-accelerated filer o                       | Smaller Reporting Company x |
| (Do not check if a smaller reporting company) |                        |

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|       |   |              |   |                                                                                        |   | Page   |
|------------|--------|-------------------|--------|---------------------------------------------------------------------------------------------|--------|--------|
| PART I -   |   | ITEM 1            |   | FINANCIAL INFORMATION                                                                       |   | 3      |
|       |   |              |   |                                                                                        |   |   |
|       |   |              |   | Consolidated Balance Sheets                                                                 |   | 3      |
|       |   |              |   |                                                                                        |   |   |
|       |   |              |   | Consolidated Statements of Income                                                           |   | 4      |
|       |   |              |   |                                                                                        |   |   |
|       |   |              |   | Consolidated Statements of Comprehensive Income                                             |   | 5      |
|       |   |              |   |                                                                                        |   |   |
|       |   |              |   | Consolidated Statements of Cash Flows                                                       |   | 6      |
|       |   |              |   |                                                                                        |   |   |
|       |   |              |   | Notes to Consolidated Financial Statements                                                  |   | 8      |
|       |   |              |   |                                                                                        |   |   |
|       |   | ITEM 2            |   | Management’s Discussion and Analysis of Financial Condition and Results of Operations |   | 25     |
|       |   |              |   |                                                                                        |   |   |
|       |   | ITEM 3            |   | Quantitative and Qualitative Disclosures About Market Risk                                  |   | 33     |
|       |   |              |   |                                                                                        |   |   |
|       |   | ITEM 4            |   | Controls and Procedures                                                                     |   | 33     |
|       |   |              |   |                                                                                        |   |   |
| PART II -  |   | OTHER INFORMATION |   | 34                                                                                          |
|       |   |              |   |                                                                                        |   |   |
| SIGNATURES |   |              |   | 35                                                                                          |

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|                                                                                                                                           |   | March 31, |    |   | June 30,   |   |
|------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|---------|--------|------------|--------|
|                                                                                                                                           |   | 2011      |    |   | 2010       |   |
| ASSETS                                                                                                                                         |   |      |    |   | (Restated) |   |
|                                                                                                                                           |   |      |    |   |       |   |
| Cash and due from financial institutions                                                                                                       |   | $         | 817     |   |       | $      | 1,118 |   |
| Interest-bearing demand deposits                                                                                                               |   |      | 5,497   |   |       |   | 7,244 |   |
| Cash and cash equivalents                                                                                                                      |   |      | 6,314   |   |       |   | 8,362 |   |
|                                                                                                                                           |   |      |    |   |       |   |   |   |
| Interest-bearing deposits in other financial institutions                                                                                      |   |      | 100     |   |       |   | 100 |   |
| Securities available for sale                                                                                                                  |   |      | 209     |   |       |   | 246 |   |
| Securities held-to-maturity, at amortized cost- approximate fair value of $7,778 and $10,026 at March 31, 2011 and June 30, 2010, respectively |   |      | 7,385   |   |       |   | 9,435 |   |
| Loans held for sale                                                                                                                            |   |      | 325     |   |       |   | 370 |   |
| Loans                                                                                                                                          |   |      | 184,094 |   |       |   | 192,153 |   |
| Allowance for loan and lease losses                                                                                                            |   |      | (882    | )      |       |   | (1,535 | ) |
| Real estate owned, net                                                                                                                         |   |      | 3,666   |   |       |   | 748 |   |
| Premises and equipment, net                                                                                                                    |   |      | 2,684   |   |       |   | 2,731 |   |
| Federal Home Loan Bank stock                                                                                                                   |   |      | 5,641   |   |       |   | 5,641 |   |
| Accrued interest receivable                                                                                                                    |   |      | 503     |   |       |   | 518 |   |
| Bank-owned life insurance                                                                                                                      |   |      | 2,585   |   |       |   | 2,518 |   |
| Goodwill                                                                                                                                       |   |      | 14,507  |   |       |   | 14,507 |   |
| Other intangible assets                                                                                                                        |   |      | 120     |   |       |   | 218 |   |
| Prepaid FDIC assessments                                                                                                                       |   |      | 405     |   |       |   | 542 |   |
| Prepaid federal income taxes                                                                                                                   |   |      | 518     |   |       |   | - |   |
| Prepaid expenses and other assets                                                                                                              |   |      | 484     |   |       |   | 385 |   |
| Total assets                                                                                                                                   |   | $         | 228,658 |   |       | $      | 236,939 |   |
|                                                                                                                                           |   |      |    |   |       |   |   |   |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                     |   |      |    |   |       |   |   |   |
|                                                                                                                                           |   |      |    |   |       |   |   |   |
| Deposits                                                                                                                                       |   | $         | 142,411 |   |       | $      | 144,969 |   |
| Federal Home Loan Bank advances                                                                                                                |   |      | 25,926  |   |       |   | 32,009 |   |
| Advances by borrowers for taxes and insurance                                                                                                  |   |      | 321     |   |       |   | 335 |   |
| Accrued interest payable                                                                                                                       |   |      | 113     |   |       |   | 145 |   |
| Other liabilities                                                                                                                              |   |      | 1,592   |   |       |   | 1,673 |   |
| Total liabilities                                                                                                                              |   |      | 170,363 |   |       |   | 179,131 |   |
|                                                                                                                                           |   |      |    |   |       |   |   |   |
| Commitments and contingencies                                                                                                                  |   |      | -       |   |       |   | - |   |
|                                                                                                                                           |   |      |    |   |       |   |   |   |
| Shareholders’ equity                                                                                                                     |   |      |    |   |       |   |   |   |
| Preferred stock, 500,000 shares authorized, $.01 par value; no shares issued                                                                   |   |      | -       |   |       |   | - |   |
| Common stock, 20,000,000 shares authorized, $.01 par value; 8,596,064 shares issued and outstanding                                            |   |      | 86      |   |       |   | 86 |   |
| Additional paid-in capital                                                                                                                     |   |      | 36,893  |   |       |   | 36,623 |   |
| Retained earnings                                                                                                                              |   |      | 31,560  |   |       |   | 31,216 |   |
| Unearned employee stock ownership plan (ESOP)                                                                                                  |   |      | (2,078  | )      |       |   | (2,169 | ) |
| Treasury shares at cost, 811,375 and 745,530 common shares at March 31, 2011 and June 30, 2010, respectively                                   |   |      | (8,170  | )      |       |   | (7,952 | ) |
| Accumulated other comprehensive income                                                                                                         |   |      | 4       |   |       |   | 4 |   |
| Total shareholders’ equity                                                                                                               |   |      | 58,295  |   |       |   | 57,808 |   |
| Total liabilities and shareholders’ equity                                                                                               |   | $         | 228,658 |   |       | $      | 236,939 |   |

----

|                                                     |   | Nine months ended |   |   | Three months ended |   |
|----------------------------------------------------------|--------|-------------------|--------|--------|--------------------|--------|
|                                                     |   | March 31,         |   |   | March 31,          |   |
|                                                     |   | 2011              |   |   | 2010               |   |   | 2011 |   |   | 2010 |   |
|                                                     |   | (Restated)        |   |   | (Restated)         |   |
| Interest income                                          |   |              |   |   |               |   |   |   |   |   |   |   |
| Loans                                                    |   | $                 | 7,644  |   |               | $      | 7,984 |   |   | $ | 2,485 |   |   | $ | 2,701 |   |
| Mortgage-backed securities                               |   |              | 277    |   |               |   | 367 |   |   |   | 84 |   |   |   | 115 |   |
| Other securities                                         |   |              | 2      |   |               |   | 135 |   |   |   | 1 |   |   |   | 44 |   |
| Interest-bearing deposits and other                      |   |              | 184    |   |               |   | 197 |   |   |   | 65 |   |   |   | 64 |   |
| Total interest income                                    |   |              | 8,107  |   |               |   | 8,683 |   |   |   | 2,635 |   |   |   | 2,924 |   |
|                                                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                         |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                                 |   |              | 2,004  |   |               |   | 2,656 |   |   |   | 584 |   |   |   | 814 |   |
| Borrowings                                               |   |              | 545    |   |               |   | 1,195 |   |   |   | 141 |   |   |   | 389 |   |
| Total interest expense                                   |   |              | 2,549  |   |               |   | 3,851 |   |   |   | 725 |   |   |   | 1,203 |   |
|                                                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income                                      |   |              | 5,558  |   |               |   | 4,832 |   |   |   | 1,910 |   |   |   | 1,721 |   |
|                                                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Provision for losses on loans                            |   |              | 669    |   |               |   | 1,099 |   |   |   | 601 |   |   |   | 71 |   |
|                                                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Net interest income after provision for losses on loans  |   |              | 4,889  |   |               |   | 3,733 |   |   |   | 1,309 |   |   |   | 1,650 |   |
|                                                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest income                                      |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Earnings on bank-owned life insurance                    |   |              | 68     |   |               |   | 62 |   |   |   | 23 |   |   |   | 17 |   |
| Gain on sale of loans                                    |   |              | 107    |   |               |   | 96 |   |   |   | 15 |   |   |   | 37 |   |
| Loss on sale of real estate acquired through foreclosure |   |              | (36    | )      |               |   | (27 | ) |   |   | - |   |   |   | - |   |
| Other                                                    |   |              | 80     |   |               |   | 75 |   |   |   | 27 |   |   |   | 23 |   |
| Total non-interest income                                |   |              | 219    |   |               |   | 206 |   |   |   | 65 |   |   |   | 77 |   |
|                                                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Non-interest expense                                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Employee compensation and benefits                       |   |              | 2,257  |   |               |   | 2,341 |   |   |   | 736 |   |   |   | 778 |   |
| Occupancy and equipment                                  |   |              | 258    |   |               |   | 247 |   |   |   | 92 |   |   |   | 102 |   |
| Franchise taxes                                          |   |              | 144    |   |               |   | 141 |   |   |   | 46 |   |   |   | 49 |   |
| Data processing                                          |   |              | 189    |   |               |   | 177 |   |   |   | 63 |   |   |   | 64 |   |
| FDIC insurance premiums                                  |   |              | 149    |   |               |   | 139 |   |   |   | 46 |   |   |   | 46 |   |
| Auditing and accounting                                  |   |              | 146    |   |               |   | 121 |   |   |   | 59 |   |   |   | 45 |   |
| Amortization of intangible assets                        |   |              | 98     |   |               |   | 98 |   |   |   | 33 |   |   |   | 33 |   |
| Other operating                                          |   |              | 672    |   |               |   | 478 |   |   |   | 230 |   |   |   | 151 |   |
| Total non-interest expense                               |   |              | 3,913  |   |               |   | 3,742 |   |   |   | 1,305 |   |   |   | 1,268 |   |
|                                                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Income before income taxes                               |   |              | 1,195  |   |               |   | 197 |   |   |   | 69 |   |   |   | 459 |   |
|                                                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Federal income tax expense (benefit)                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Current                                                  |   |              | (185   | )      |               |   | (14 | ) |   |   | (519 | ) |   |   | 209 |   |
| Deferred                                                 |   |              | 179    |   |               |   | 80 |   |   |   | 144 |   |   |   | (52 | ) |
| Total federal income tax expense (benefit)               |   |              | (6     | )      |               |   | 66 |   |   |   | (375 | ) |   |   | 157 |   |
|                                                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| NET INCOME                                               |   | $                 | 1,201  |   |               | $      | 131 |   |   | $ | 444 |   |   | $ | 302 |   |
|                                                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| EARNINGS PER SHARE                                       |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted                                        |   | $                 | 0.16   |   |               | $      | 0.02 |   |   | $ | 0.06 |   |   | $ | 0.04 |   |
|                                                     |   |              |   |   |               |   |   |   |   |   |   |   |   |   |   |   |
| DIVIDENDS PER SHARE                                      |   | $                 | 0.30   |   |               | $      | 0.30 |   |   | $ | 0.10 |   |   | $ | 0.10 |   |

----

|                                                                                                                                                                                                                            |   | Nine months ended |    |   | Three months ended |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|---------|--------|--------------------|--------|
|                                                                                                                                                                                                                            |   | March 31,         |    |   | March 31,          |   |
|                                                                                                                                                                                                                            |   | 2011              |    |   | 2010               |   |   | 2011 |   |   | 2010 |   |
|                                                                                                                                                                                                                            |   | (Restated)        |    |   | (Restated)         |   |
| Net income                                                                                                                                                                                                                      |   | $                 | 1,201   |   |               | $      | 131 |   |   | $ | 444 |   |   | $ | 302 |   |
|                                                                                                                                                                                                                            |   |              |    |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Other comprehensive income (loss), net of taxes (benefits): Unrealized holding gains (losses) on securities designated as available for sale, net of taxes (benefits) of $--, $(35), $--and $(13) during the respective periods |   |              | — |   |               |   | (68 | ) |   |   | 1 |   |   |   | (25 | ) |
|                                                                                                                                                                                                                            |   |              |    |   |               |   |   |   |   |   |   |   |   |   |   |   |
| Comprehensive income                                                                                                                                                                                                            |   | $                 | 1,201   |   |               | $      | 63 |   |   | $ | 445 |   |   | $ | 277 |   |

----

|                                                                              |   | Nine months ended |    |
|-----------------------------------------------------------------------------------|--------|-------------------|---------|
|                                                                              |   | March 31,         |    |
|                                                                              |   | 2011              |    |   | 2010 |   |
|                                                                              |   |              |    |   | (Restated) |   |
| Cash flows from operating activities:                                             |   |              |    |   |   |   |
| Net income                                                                        |   | $                 | 1,201   |   |   | $ | 131 |   |
| Adjustments to reconcile net income to net cash provided by operating activities: |   |              |    |   |   |   |   |   |
| Depreciation                                                                      |   |              | 138     |   |   |   | 131 |   |
| Amortization of deferred loan origination (fees) costs                            |   |              | (5      | ) |   |   | (23 | ) |
| Amortization of premiums on FHLB advances                                         |   |              | (103    | ) |   |   | (314 | ) |
| Amortization of core deposit intangibles                                          |   |              | 98      |   |   |   | 98 |   |
| Net gain on sale of loans                                                         |   |              | (107    | ) |   |   | (96 | ) |
| Net loss on sale of real estate owned                                             |   |              | 36      |   |   |   | 27 |   |
| ESOP compensation expense                                                         |   |              | 91      |   |   |   | 176 |   |
| Amortization of stock benefit plans and stock options expense                     |   |              | 270     |   |   |   | 328 |   |
| Earnings on bank-owned life insurance                                             |   |              | (68     | ) |   |   | (62 | ) |
| Provision for loan losses                                                         |   |              | 669     |   |   |   | 1,099 |   |
| Origination of loans held for sale                                                |   |              | (2,850  | ) |   |   | (3,434 | ) |
| Proceeds from loans held for sale                                                 |   |              | 3,002   |   |   |   | 3,665 |   |
| Increase (decrease) in cash, due to changes in:                                   |   |              |    |   |   |   |   |   |
| Accrued interest receivable                                                       |   |              | 15      |   |   |   | 106 |   |
| Prepaid expenses and other assets                                                 |   |              | 38      |   |   |   | (629 | ) |
| Accrued interest payable                                                          |   |              | (32     | ) |   |   | (25 | ) |
| Accounts payable and other liabilities                                            |   |              | (599    | ) |   |   | (395 | ) |
| Net cash provided by operating activities                                         |   |              | 1,794   |   |   |   | 783 |   |
|                                                                              |   |              |    |   |   |   |   |   |
| Cash flows from investing activities:                                             |   |              |    |   |   |   |   |   |
| Purchase of available-for-sale securities                                         |   |              | (11,000 | ) |   |   | -- |   |
| Securities maturities, prepayments and calls:                                     |   |              |    |   |   |   |   |   |
| Held to maturity                                                                  |   |              | 13,050  |   |   |   | 4,841 |   |
| Available for sale                                                                |   |              | 37      |   |   |   | 68 |   |
| Loans originated for investment, net of principal collected                       |   |              | 2,897   |   |   |   | (4,036 | ) |
| Proceeds from sale of real estate owned                                           |   |              | 891     |   |   |   | 223 |   |
| Additions to premises and equipment, net                                          |   |              | (91     | ) |   |   | (48 | ) |
| Net cash provided by investing activities                                         |   |              | 5,784   |   |   |   | 1,048 |   |
|                                                                              |   |              |    |   |   |   |   |   |
| Cash flows from financing activities:                                             |   |              |    |   |   |   |   |   |
| Net change in deposits                                                            |   |              | (2,558  | ) |   |   | 4,707 |   |
| Payments by borrowers for taxes and insurance, net                                |   |              | (14     | ) |   |   | (127 | ) |
| Proceeds from Federal Home Loan Bank advances                                     |   |              | 16,000  |   |   |   | 9,500 |   |
| Repayments on Federal Home Loan Bank advances                                     |   |              | (21,980 | ) |   |   | (15,679 | ) |
| Dividends paid on common stock                                                    |   |              | (856    | ) |   |   | (862 | ) |
| Treasury stock repurchases                                                        |   |              | (218    | ) |   |   | (181 | ) |
| Net cash used in financing activities                                             |   |              | (9,626  | ) |   |   | (2,642 | ) |
|                                                                              |   |              |    |   |   |   |   |   |
| Net decrease in cash and cash equivalents                                         |   |              | (2,048  | ) |   |   | (811 | ) |
|                                                                              |   |              |    |   |   |   |   |   |
| Beginning cash and cash equivalents                                               |   |              | 8,362   |   |   |   | 4,217 |   |
|                                                                              |   |              |    |   |   |   |   |   |
| Ending cash and cash equivalents                                                  |   | $                 | 6,314   |   |   | $ | 3,406 |   |

----

|                                                                  |   | Nine months ended |   |
|-----------------------------------------------------------------------|--------|-------------------|--------|
|                                                                  |   | March 31,         |   |
|                                                                  |   | 2011              |   |   | 2010 |   |
|                                                                  |   |              |   |   |   |   |
| Supplemental disclosure of cash flow information:                     |   |              |   |   |   |   |
| Cash paid during the period for:                                      |   |              |   |   |   |   |
| Federal income taxes                                                  |   | $                 | 500    |   |   | $ | 360 |   |
|                                                                  |   |              |   |   |   |   |   |   |
| Interest on deposits and borrowings                                   |   | $                 | 2,684  |   |   | $ | 4,190 |   |
|                                                                  |   |              |   |   |   |   |   |   |
| Transfers from loans to real estate acquired through foreclosure, net |   | $                 | 3,845  |   |   | $ | 261 |   |
|                                                                  |   |              |   |   |   |   |   |   |
| Loans made on sale of real estate acquired through foreclosure        |   | $                 | 593    |   |   | $ | 146 |   |
|                                                                  |   |              |   |   |   |   |   |   |
| Capitalization of mortgage servicing rights                           |   | $                 | 24     |   |   | $ | 27 |   |

----

----

----

| (in thousands)                                                       |   | Effect on Retained Earnings |   |   | Effect on Current Year’s Earnings |   |
|----------------------------------------------------------------------|--------|-----------------------------|--------|--------|-----------------------------------------|--------|
| Recording of prior years’ additional ESOP compensation expense |   | $                           | (223   | )      |                                    | $      | — |   |
|                                                                 |   |                        |   |   |                                    |   |   |   |
| Income tax effect of the item above                                  |   |                        | 76     |   |                                    |   | — |   |
|                                                                 |   |                        |   |   |                                    |   |   |   |
| Net SAB 108 effect                                                   |   |                        | (147   | )      |                                    |   | — |   |

----

| (in thousands)                                                       |   | June 30, 2010 |   |
|----------------------------------------------------------------------|--------|---------------|--------|
| Balance Sheet:                                                       |   |          |   |
| Other liabilities as previously reported                             |   | $             | 1,749  |   |
| Income tax adjustment                                                |   |          | (76    | ) |
| Other liabilities as adjusted                                        |   | $             | 1,673  |   |
|                                                                 |   |          |   |   |
| Additional paid-in capital as previously reported                    |   | $             | 36,597 |   |
| ESOP compensation expense adjustment                                 |   |          | 26     |   |
| Additional paid-in capital as adjusted                               |   | $             | 36,623 |   |
|                                                                 |   |          |   |   |
| Retained earnings as previously reported                             |   | $             | 31,363 |   |
| ESOP compensation expense adjustment (net of tax)                    |   |          | (147   | ) |
| Retained earnings as adjusted                                        |   | $             | 31,216 |   |
|                                                                 |   |          |   |   |
| Unearned employee stock ownership plan (ESOP) as previously reported |   | $             | (2,366 | ) |
| ESOP compensation expense adjustment                                 |   |          | 197    |   |
| Unearned employee stock ownership plan (ESOP) as adjusted            |   | $             | (2,169 | ) |

| Nine- and three-months ended March 31, 2010                 |   | Nine months ended |    |   | Three months ended |   |
|-------------------------------------------------------------|--------|-------------------|---------|--------|--------------------|--------|
| Statements of Operations:                                   |   |              |    |   |               |   |
| Employee compensation and benefits as previously reported   |   | $                 | 2,304   |   |               | $      | 778 |   |
| ESOP expense adjustment                                     |   |              | 37      |   |               |   | — |   |
| Employee compensation and benefits as adjusted              |   | $                 | 2,341   |   |               | $      | 778 |   |
|                                                        |   |              |    |   |               |   |   |   |
| Total federal income tax expense as previously reported     |   | $                 | 79      |   |               | $      | 157 |   |
| Tax impact of ESOP expense adjustment                       |   |              | (13     | )      |               |   | — |   |
| Total federal income tax expense as adjusted                |   | $                 | 66      |   |               | $      | 157 |   |
|                                                        |   |              |    |   |               |   |   |   |
| Net income as previously reported                           |   | $                 | 155     |   |               | $      | 302 |   |
| ESOP expense adjustment (net of tax)                        |   |              | (24     | )      |               |   | -- |   |
| Net income as adjusted                                      |   | $                 | 131     |   |               | $      | 302 |   |
|                                                        |   |              |    |   |               |   |   |   |
| Earnings per share-basic and diluted as previously reported |   | $                 | 0.02    |   |               | $      | 0.04 |   |
| ESOP expense adjustment                                     |   |              | — |   |               |   | — |   |
| Earnings per share-basic and diluted as adjusted            |   | $                 | 0.02    |   |               | $      | 0.04 |   |

----

|                                                           |   | Nine months ended March 31, |   |
|----------------------------------------------------------------|--------|-----------------------------|--------|
|                                                           |   | 2011                        |   |   | 2010 |   |
|                                                           |   |                        |   | (Restated) |   |
| Net income                                                     |   | $                           | 1,201  |   |   | $ | 131 |   |
| Less earnings allocated to unvested shares                     |   |                        | (7     | ) |   |   | (13 | ) |
|                                                           |   |                        |   |   |   |   |   |   |
| Net income allocated to common shareholders, basic and diluted |   | $                           | 1,194  |   |   | $ | 118 |   |

|                                                           |   | Three months ended March 31, |    |
|----------------------------------------------------------------|--------|------------------------------|---------|
|                                                           |   | 2011                         |    |   | 2010 |   |
|                                                           |   |                         |    | (Restated) |   |
| Net income                                                     |   | $                            | 444     |   |   | $ | 302 |   |
| Less earnings allocated to unvested shares                     |   |                         | — |   |   |   | (3 | ) |
|                                                           |   |                         |    |   |   |   |   |   |
| Net income allocated to common shareholders, basic and diluted |   | $                            | 444     |   |   | $ | 299 |   |

|                                                                        |   | Nine months ended March 31, |      |
|-----------------------------------------------------------------------------|--------|-----------------------------|-----------|
| Basic                                                                       |   | 2011                        |      |   | 2010 |   |
| Weighted-average common shares including unvested common shares outstanding |   |                        | 7,487,610 |   |   |   | 7,521,493 |   |
| Less: Weighted-average unvested common shares                               |   |                        | 14,994    |   |   |   | 43,167 |   |
| Weighted-average common shares outstanding                                  |   |                        | 7,502,604 |   |   |   | 7,564,660 |   |
|                                                                        |   |                        |      |   |   |   |   |   |
| Diluted                                                                     |   |                        |      |   |   |   |   |   |
| Add: Dilutive effect of assumed exercise of stock options                   |   |                        | -         |   |   |   | 41,815 |   |
|                                                                        |   |                        |      |   |   |   |   |   |
| Weighted-average common shares outstanding (diluted)                        |   |                        | 7,502,604 |   |   |   | 7,606,475 |   |

----

|                                                                        |   | Three months ended March 31, |      |
|-----------------------------------------------------------------------------|--------|------------------------------|-----------|
|                                                                        |   | 2011                         |      |   | 2010 |   |
| Basic                                                                       |   |                         |      |   |   |   |
| Weighted-average common shares including unvested Common shares outstanding |   |                         | 7,513,815 |   |   |   | 7,542,219 |   |
| Less: Weighted-average unvested common shares                               |   |                         | —   |   |   |   | 25,900 |   |
| Weighted-average common shares outstanding                                  |   |                         | 7,513,815 |   |   |   | 7,568,119 |   |
|                                                                        |   |                         |      |   |   |   |   |   |
| Diluted                                                                     |   |                         |      |   |   |   |   |   |
| Add: Dilutive effect of assumed exercise of stock options                   |   |                         | —   |   |   |   | 18,862 |   |
|                                                                        |   |                         |      |   |   |   |   |   |
| Weighted-average common shares outstanding (diluted)                        |   |                         | 7,513,815 |   |   |   | 7,586,981 |   |

----

|                                |   | March 31, 2011 |   |
|-------------------------------------|--------|----------------|--------|
|                                |   |           |   |   | Gross |   |   | Gross |   |   | Estimated |   |
|                                |   | Amortized      |   |   | unrealized |   |   | unrealized |   |   | fair |   |
|                                |   | cost           |   |   | gains |   |   | losses |   |   | value |   |
|                                |   | (In thousands) |   |
| Available-for-sale Securities       |   |           |   |
| Agency mortgage-backed: residential |   | $              | 201    |   |   | $ | 8 |   |   | $ | - |   |   | $ | 209 |   |

|                                |   |      |   |   | Gross        |   |   | Gross        |   |   | Estimated |   |
|-------------------------------------|--------|-----------|--------|--------|--------------|--------|--------|--------------|--------|--------|-----------|--------|
|                                |   | Amortized |   |   | unrecognized |   |   | unrecognized |   |   | fair      |   |
|                                |   | cost      |   |   | gains        |   |   | losses       |   |   | value     |   |
| Held-to-maturity Securities         |   |      |   |   |         |   |   |         |   |   |      |   |
| Agency mortgage-backed: residential |   | $         | 7,385  |   |         | $      | 393    |         |   | $      | -         |   |   | $ | 7,778 |   |

|                                |   | June 30, 2010 |   |
|-------------------------------------|--------|---------------|--------|
|                                |   |          |   |   |   |   |   | Gross |   |   | Estimated |   |
|                                |   | Amortized     |   |   | unrealized |   |   | unrealized |   |   | fair |   |
|                                |   | cost          |   |   | gains |   |   | losses |   |   | value |   |
| Available-for-sale Securities       |   |          |   |   |   |   |   |   |   |   |   |   |
| Agency mortgage-backed: residential |   | $             | 240    |   |   | $ | 7 |   |   | $ | (1 | ) |   | $ | 246 |   |

|                                |   |      |   |   | Gross        |   |   | Gross        |   |   | Estimated |   |   |
|-------------------------------------|--------|-----------|--------|--------|--------------|--------|--------|--------------|--------|--------|-----------|--------|--------|
|                                |   | Amortized |   |   | unrecognized |   |   | unrecognized |   |   | fair      |   |   |
|                                |   | cost      |   |   | gains        |   |   | losses       |   |   | value     |   |   |
| Held-to-maturity Securities         |   |      |   |   |         |   |   |         |   |   |      |   |   |
| Agency mortgage-backed: residential |   | $         | 9,435  |   |         | $      | 591    |         |   | $      | -         |   |   | $ | 10,026 |   |

----

|                                    |   | March 31,      |    |   | June 30, |   |
|-----------------------------------------|--------|----------------|---------|--------|----------|--------|
|                                    |   | 2011           |    |   | 2010     |   |
|                                    |   | (In thousands) |    |
| Residential real estate                 |   |           |    |   |     |   |
| One- to four-family                     |   | $              | 159,438 |   |     | $      | 165,818 |   |
| Multi-family                            |   |           | 3,633   |   |     |   | 6,689 |   |
| Construction                            |   |           | 1,779   |   |     |   | 1,916 |   |
| Nonresidential real estate and land     |   |           | 12,207  |   |     |   | 10,943 |   |
| Loans on deposits                       |   |           | 2,598   |   |     |   | 2,754 |   |
| Consumer and other                      |   |           | 4,711   |   |     |   | 4,802 |   |
|                                    |   |           | 184,366 |   |     |   | 192,922 |   |
| Less:                                   |   |           |    |   |     |   |   |   |
| Undisbursed portion of loans in process |   |           | 345     |   |     |   | 631 |   |
| Deferred loan origination fees (cost)   |   |           | (73     | )      |     |   | 138 |   |
| Allowance for loan losses               |   |           | 882     |   |     |   | 1,535 |   |
|                                    |   | $              | 183,212 |   |     | $      | 190,618 |   |

|                                                                         |   | March 31,      |   |   | June 30, |   |
|------------------------------------------------------------------------------|--------|----------------|--------|--------|----------|--------|
|                                                                         |   | 2011           |   |   | 2010     |   |
|                                                                         |   | (In thousands) |   |
| Loans with no allocated allowance for loan losses                            |   | $              | 1,162  |   |     | $      | 1,348 |   |
| Loans with allocated allowance for loan losses                               |   |           | 1,693  |   |     |   | 5,370 |   |
| Total                                                                        |   | $              | 2,855  |   |     | $      | 6,718 |   |
|                                                                         |   |           |   |   |     |   |   |   |
| Amount of allowance for loan losses allocated                                |   | $              | 146    |   |     | $      | 904 |   |
| Average impaired loans for the nine- and twelve- months ended                |   | $              | 2,581  |   |     | $      | 4,304 |   |
| Interest recognized on impaired loans for the nine- and twelve- months ended |   | $              | 58     |   |     | $      | 246 |   |
| Cash received on impaired loans for the nine- and twelve- months ended       |   | $              | 56     |   |     | $      | 246 |   |

----

| (in thousands)                               |   | Recorded investment in loans |    |   | Ending allowance attributed to loans |   |    | Unallocated allowance |   |   | Total allowance |   |
|----------------------------------------------|--------|------------------------------|---------|--------|--------------------------------------|--------|---------|-----------------------|--------|--------|-----------------|--------|
|                                         |   |                         |    |   |                                 |   |    |                  |   |   |            |   |
|                                         |   |                         |    |   |                                 |   |    |                  |   |   |            |   |
| Loans individually evaluated for impairment: |   |                         |    |   |                                 |   |    |                  |   |   |            |   |
| Residential real estate:                     |   |                         |    |   |                                 |   |    |                  |   |   |            |   |
|   One- to four-family              |   | $                            | 2,855   |   |                                 | $      | 146     |                  |   | $      | —         |   |   | $ | 146 |   |
|   Multi-family                     |   |                         | — |   |                                 |   | — |                  |   |   | —         |   |   |   | — |   |
|   Construction                     |   |                         | — |   |                                 |   | — |                  |   |   | —         |   |   |   | — |   |
| Nonresidential real estate and land          |   |                         | — |   |                                 |   | — |                  |   |   | —         |   |   |   | — |   |
| Loans on deposits                            |   |                         | — |   |                                 |   | — |                  |   |   | —         |   |   |   | — |   |
| Consumer and other                           |   |                         | — |   |                                 |   | — |                  |   |   | —         |   |   |   | -- |   |
|                                         |   | $                            | 2,855   |   |                                 | $      | 146     |                  |   | $      | —         |   |   | $ | 146 |   |
|                                         |   |                         |    |   |                                 |   |    |                  |   |   |            |   |   |   |   |   |
| Loans collectively evaluated for impairment: |   |                         |    |   |                                 |   |    |                  |   |   |            |   |   |   |   |   |
| Residential real estate:                     |   |                         |    |   |                                 |   |    |                  |   |   |            |   |   |   |   |   |
|   One- to four-family              |   | $                            | 156,583 |   |                                 | $      | 462     |                  |   | $      | —         |   |   | $ | 462 |   |
|   Multi-family                     |   |                         | 3,633   |   |                                 |   | 11      |                  |   |   | —         |   |   |   | 11 |   |
|   Construction                     |   |                         | 1,779   |   |                                 |   | 5       |                  |   |   | —         |   |   |   | 5 |   |
| Nonresidential real estate and land          |   |                         | 12,207  |   |                                 |   | 36      |                  |   |   | —         |   |   |   | 36 |   |
| Loans on deposits                            |   |                         | 2,598   |   |                                 |   | 8       |                  |   |   | —         |   |   |   | 8 |   |
| Consumer and other                           |   |                         | 4,711   |   |                                 |   | 14      |                  |   |   | —         |   |   |   | 14 |   |
| Unallocated                                  |   |                         | — |   |                                 |   | — |                  |   |   | 200             |   |   |   | 200 |   |
|                                         |   | $                            | 181,511 |   |                                 | $      | 536     |                  |   | $      | 200             |   |   | $ | 736 |   |

----

|                                |   |        |   |   | Allowance |   |    |       |   |   |       |   |   |     |   |
|-------------------------------------|--------|-------------|--------|--------|-----------|--------|---------|------------|--------|--------|------------|--------|--------|----------|--------|
|                                |   | Outstanding |   |   | forLoan   |   |    | Average    |   |   | Interest   |   |   |     |   |
|                                |   | Principal   |   |   | Losses    |   |    | Recorded   |   |   | Income     |   |   | Cash     |   |
| (in thousands)                      |   | Balance     |   |   | Allocated |   |    | Investment |   |   | Recognized |   |   | Received |   |
| With no related allowance recorded: |   |        |   |   |      |   |    |       |   |   |       |   |   |     |   |
| One- to four-family                 |   | $           | 1,162  |   |      | $      | — |       |   | $      | 1,336      |   |   | $        | 40     |   |   | $ | 40 |   |
|                                |   |        |   |   |      |   |    |       |   |   |       |   |   |     |   |   |   |   |   |   |
| With an allowance recorded:         |   |        |   |   |      |   |    |       |   |   |       |   |   |     |   |   |   |   |   |   |
| One- to four-family                 |   | $           | 1,693  |   |      | $      | 146     |       |   | $      | 1,245      |   |   | $        | 18     |   |   | $ | 16 |   |

|                                              |   | March 31,      |    |   | June 30, |   |
|---------------------------------------------------|--------|----------------|---------|--------|----------|--------|
|                                              |   | 2011           |    |   | 2010     |   |
|                                              |   | (In thousands) |    |
|                                              |   |           |    |   |     |   |
| Nonaccrual loans                                  |   | $              | 2,123   |   |     | $      | 7,671 |   |
| Restructured loans                                |   |           | 732     |   |     |   | — |   |
| Loans past due 90 days or more and still accruing |   |           | — |   |     |   | 112 |   |
| Total                                             |   | $              | 2,855   |   |     | $      | 7,783 |   |

| (in thousands)                              |   | Nonaccrual |   |   | Loans Past Due Over 90 Days Still Accruing |   |
|---------------------------------------------|--------|------------|--------|--------|--------------------------------------------|--------|
| Consumer and other                          |   | $          | 20     |   |                                       | $      | - |   |
| One- to four-family residential real estate |   |       | 2,103  |   |                                       |   | - |   |
|                                        |   |       |   |   |                                       |   |   |   |
| Total                                       |   | $          | 2,123  |   |                                       | $      | - |   |

----

| (in thousands)                      |   | 30-89 Days Past Due |    |   | Greater than 90 Days Past Due |   |    | Total Past Due |   |   | Loans Not Past Due |   |   | Total  |    |
|-------------------------------------|--------|---------------------|---------|--------|-------------------------------|--------|---------|----------------|--------|--------|--------------------|--------|--------|--------|---------|
| Residential real estate:            |   |                |    |   |                          |   |    |           |   |   |               |   |   |   |    |
|   One-to four-family      |   | $                   | 2,729   |   |                          | $      | 2,103   |           |   | $      | 4,832              |   |   | $      | 154,606 |   |   | $ | 159,438 |   |
|   Multi-family            |   |                | — |   |                          |   | — |           |   |   | —            |   |   |   | 3,633   |   |   |   | 3,633 |   |
|   Construction            |   |                | — |   |                          |   | — |           |   |   | —            |   |   |   | 1,779   |   |   |   | 1,779 |   |
| Nonresidential real estate and land |   |                | — |   |                          |   | — |           |   |   | —            |   |   |   | 12,207  |   |   |   | 12,207 |   |
| Loans on deposits                   |   |                | — |   |                          |   | — |           |   |   | —            |   |   |   | 2,598   |   |   |   | 2,598 |   |
| Consumer and other                  |   |                | — |   |                          |   | 20      |           |   |   | 20                 |   |   |   | 4,691   |   |   |   | 4,711 |   |
| Total                               |   | $                   | 2,729   |   |                          | $      | 2,123   |           |   | $      | 4,852              |   |   | $      | 179,514 |   |   | $ | 184,366 |   |

----

| (in thousands)                      |   | Pass   |    |   | Special Mention |   |    | Substandard |   |   | Doubtful |   |   | Not rated |    |
|-------------------------------------|--------|--------|---------|--------|-----------------|--------|---------|-------------|--------|--------|----------|--------|--------|-----------|---------|
| Residential real estate:            |   |   |    |   |            |   |    |        |   |   |     |   |   |      |    |
|   One- to four-family     |   | $      | — |   |            | $      | 68      |        |   | $      | 3,534    |   |   | $         | — |   |   | $ | 155,836 |   |
|   Multi-family            |   |   | 3,633   |   |            |   | — |        |   |   | —  |   |   |      | — |   |   |   | — |   |
|   Construction            |   |   | 1,779   |   |            |   | — |        |   |   | —  |   |   |      | — |   |   |   | — |   |
| Nonresidential real estate and land |   |   | 11,933  |   |            |   | 274     |        |   |   | —  |   |   |      | — |   |   |   | — |   |
| Loans on deposits                   |   |   | — |   |            |   | — |        |   |   | —  |   |   |      | — |   |   |   | 2,598 |   |
| Consumer and other                  |   |   | — |   |            |   | — |        |   |   | 20       |   |   |      | — |   |   |   | 4,691 |   |

|                          |   | For the Nine Months Ended |   |
|-------------------------------|--------|---------------------------|--------|
|                          |   | March 31,                 |   |   | March 31, |   |
|                          |   | 2011                      |   |   | 2010 |   |
|                          |   | (In thousands)            |   |
| Beginning balance             |   | $                         | 1,535  |   |   | $ | 678 |   |
| Provision for losses on loans |   |                      | 669    |   |   |   | 1,099 |   |
| Charge-offs                   |   |                      | (1,322 | ) |   |   | (88 | ) |
|                          |   |                      |   |   |   |   |   |   |
| Ending balance                |   | $                         | 882    |   |   | $ | 1,689 |   |

----

| (in thousands)                       |   | Beginning balance |   |   | Provision for loan losses |   |    | Loans charged off |   |   | Recoveries |   |   | Ending balance |    |
|--------------------------------------|--------|-------------------|--------|--------|---------------------------|--------|---------|-------------------|--------|--------|------------|--------|--------|----------------|---------|
| Residential real estate:             |   |              |   |   |                      |   |    |              |   |   |       |   |   |           |    |
|   One- to four-family      |   | $                 | 1,261  |   |                      | $      | 669     |              |   | $      | (1,322     | )      |   | $              | — |   |   | $ | 608 |   |
|   Multi-family             |   |              | 11     |   |                      |   | — |              |   |   | —    |   |   |           | — |   |   |   | 11 |   |
|   Construction             |   |              | 5      |   |                      |   | — |              |   |   | —    |   |   |           | — |   |   |   | 5 |   |
| Nonresidential real estate and land  |   |              | 36     |   |                      |   | — |              |   |   | —    |   |   |           | — |   |   |   | 36 |   |
| Loans on deposits                    |   |              | 8      |   |                      |   | — |              |   |   | —    |   |   |           | — |   |   |   | 8 |   |
| Consumer and other                   |   |              | 14     |   |                      |   | — |              |   |   | —    |   |   |           | — |   |   |   | 14 |   |
| Unallocated                          |   |              | 200    |   |                      |   | — |              |   |   | —    |   |   |           | — |   |   |   | 200 |   |
|      Totals |   | $                 | 1,535  |   |                      | $      | 669     |              |   | $      | (1,322     | )      |   | $              | — |   |   | $ | 882 |   |

| (in thousands)                       |   | Beginning balance |   |   | Provision for loan losses |   |    | Loans charged off |   |   | Recoveries |   |   | Ending balance |    |
|--------------------------------------|--------|-------------------|--------|--------|---------------------------|--------|---------|-------------------|--------|--------|------------|--------|--------|----------------|---------|
| Residential real estate:             |   |              |   |   |                      |   |    |              |   |   |       |   |   |           |    |
|   One- to four-family      |   | $                 | 1,329  |   |                      | $      | 601     |              |   | $      | (1,322     | )      |   | $              | — |   |   | $ | 608 |   |
|   Multi-family             |   |              | 11     |   |                      |   | — |              |   |   | —    |   |   |           | — |   |   |   | 11 |   |
|   Construction             |   |              | 5      |   |                      |   | — |              |   |   | —    |   |   |           | — |   |   |   | 5 |   |
| Nonresidential real estate and land  |   |              | 36     |   |                      |   | — |              |   |   | —    |   |   |           | — |   |   |   | 36 |   |
| Loans on deposits                    |   |              | 8      |   |                      |   | — |              |   |   | —    |   |   |           | — |   |   |   | 8 |   |
| Consumer and other                   |   |              | 14     |   |                      |   | — |              |   |   | —    |   |   |           | — |   |   |   | 14 |   |
| Unallocated                          |   |              | 200    |   |                      |   | — |              |   |   | —    |   |   |           | — |   |   |   | 200 |   |
|      Totals |   | $                 | 1,603  |   |                      | $      | 601     |              |   | $      | (1,322     | )      |   | $              | — |   |   | $ | 882 |   |

----

----

|                                |   |  Fair Value Measurements at March 31, 2011 |   |
|-------------------------------------|--------|-------------------------------------------------|--------|
|                                |   |  (in thousands)                            |   |
|                                |   |                                            |   |   | Quotes Prices |   |   |   |   |   |   |   |
|                                |   |                                            |   |   | in Active |   |   | Significant |   |   |   |   |
|                                |   |                                            |   |   | Markets for |   |   | Other |   |   | Significant |   |
|                                |   |                                            |   |   | Identical |   |   | Observable |   |   | Unobservable |   |
|                                |   |                                            |   |   | Assets |   |   | Inputs |   |   | Inputs |   |
| Description                         |   | Total                                           |   |   | (Level 1) |   |   | (Level 2) |   |   | (Level 3) |   |
| Agency mortgage-backed: residential |   | $                                               | 209    |   |   | $ | - |   |   | $ | 209 |   |   | $ | - |   |

|                                |   | Fair Value Measurements at June 30, 2010 |   |
|-------------------------------------|--------|------------------------------------------|--------|
|                                |   |  (in thousands)                     |   |
|                                |   |                                     |   |   | Quotes Prices |   |   |   |   |   |   |   |
|                                |   |                                     |   |   | in Active |   |   | Significant |   |   |   |   |
|                                |   |                                     |   |   | Markets for |   |   | Other |   |   | Significant |   |
|                                |   |                                     |   |   | Identical |   |   | Observable |   |   | Unobservable |   |
|                                |   |                                     |   |   | Assets |   |   | Inputs |   |   | Inputs |   |
| Description                         |   | Total                                    |   |   | (Level 1) |   |   | (Level 2) |   |   | (Level 3) |   |
| Agency mortgage-backed: residential |   | $                                        | 246    |   |   | $ | - |   |   | $ | 246 |   |   | $ | - |   |

|                                |   |  Fair Value Measurements at March 31, 2011 |   |
|-------------------------------------|--------|-------------------------------------------------|--------|
|                                |   |  (in thousands)                            |   |
|                                |   |                                            |   |   | Quotes Prices |   |   |   |   |   |   |   |
|                                |   |                                            |   |   | in Active |   |   | Significant |   |   |   |   |
|                                |   |                                            |   |   | Markets for |   |   | Other |   |   | Significant |   |
|                                |   |                                            |   |   | Identical |   |   | Observable |   |   | Unobservable |   |
|                                |   |                                            |   |   | Assets |   |   | Inputs |   |   | Inputs |   |
| Description                         |   | Total                                           |   |   | (Level 1) |   |   | (Level 2) |   |   | (Level 3) |   |
| Impaired loans: One- to four-family |   | $                                               | 1,547  |   |   | $ | - |   |   | $ | - |   |   | $ | 1,547 |   |

|                                |   | Fair Value Measurements at June 30, 2010 . |   |
|-------------------------------------|--------|--------------------------------------------|--------|
|                                |   |  (in thousands)                       |   |
|                                |   |                                       |   |   | Quotes Prices |   |   |   |   |   |   |   |
|                                |   |                                       |   |   | in Active |   |   | Significant |   |   |   |   |
|                                |   |                                       |   |   | Markets for |   |   | Other |   |   | Significant |   |
|                                |   |                                       |   |   | Identical |   |   | Observable |   |   | Unobservable |   |
|                                |   |                                       |   |   | Assets |   |   | Inputs |   |   | Inputs |   |
|                                |   | Total                                      |   |   | (Level 1) |   |   | (Level 2) |   |   | (Level 3) |   |
| Impaired loans: One- to four-family |   | $                                          | 4,466  |   |   | $ | - |   |   | $ | - |   |   | $ | 4,466 |   |

----

|   | Cash and cash equivalents and interest-bearing deposits:  The carrying amounts presented in the consolidated statements of financial condition for cash and cash equivalents are deemed to approximate fair value. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Held-to-maturity securities:  For held-to-maturity securities, fair value is estimated by using pricing models, quoted price of securities with similar characteristics, which is level 2 pricing for the other securities. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Loans held for sale:  Loans originated and intended for sale in the secondary market are determined by FHLB pricing schedules. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------|

|   | Loans:  The loan portfolio has been segregated into categories with similar characteristics, such as one- to four-family residential, multi-family residential and nonresidential real estate.  These loan categories were further delineated into fixed-rate and adjustable-rate loans.  The fair values for the resultant loan categories were computed via discounted cash flow analysis, using current interest rates offered for loans with similar terms to borrowers of similar credit quality.  For loans on deposit accounts and consumer and other loans, fair values were deemed to equal the historic carrying values. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Federal Home Loan Bank stock:  It is not practicable to determine the fair value of FHLB stock due to restrictions placed on its transferability. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Accrued interest receivable:  The carrying amount is the estimated fair value. |
|--------|------------------------------------------------------------------------------------------|

|   | Deposits:  The fair value of NOW accounts, passbook accounts, and money market deposits are deemed to approximate the amount payable on demand.  Fair values for fixed-rate certificates of deposit have been estimated using a discounted cash flow calculation using the interest rates currently offered for deposits of similar remaining maturities. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                          |   | March 31, 2011 |    |   | June 30, 2010 |   |
|-----------------------------------------------|--------|----------------|---------|--------|---------------|--------|
|                                          |   | Carrying       |    |   | Fair          |   |   | Carrying |   |   | Fair |   |
|                                          |   | value          |    |   | value         |   |   | value |   |   | value |   |
|                                          |   | (In Thousands) |    |
| Financial assets                              |   |           |    |   |          |   |   |   |   |   |   |   |
| Cash and cash equivalents                     |   | $              | 6,314   |   |          | $      | 6,314 |   |   | $ | 8,362 |   |   | $ | 8,362 |   |
| Interest-earning deposits                     |   |           | 100     |   |          |   | 100 |   |   |   | 100 |   |   |   | 100 |   |
| Available-for-sale securities                 |   |           | 209     |   |          |   | 209 |   |   |   | 246 |   |   |   | 246 |   |
| Held-to-maturity securities                   |   |           | 7,385   |   |          |   | 7,778 |   |   |   | 9,435 |   |   |   | 10,026 |   |
| Loans held for sale                           |   |           | 325     |   |          |   | 336 |   |   |   | 370 |   |   |   | 383 |   |
| Loans receivable - net                        |   |           | 183,212 |   |          |   | 190,504 |   |   |   | 190,618 |   |   |   | 198,203 |   |
| Federal Home Loan Bank stock                  |   |           | 5,641   |   |          |   | n/a |   |   |   | 5,641 |   |   |   | n/a |   |
| Accrued interest receivable                   |   |           | 503     |   |          |   | 503 |   |   |   | 518 |   |   |   | 518 |   |
|                                          |   |           |    |   |          |   |   |   |   |   |   |   |   |   |   |   |
| Financial liabilities                         |   |           |    |   |          |   |   |   |   |   |   |   |   |   |   |   |
| Deposits                                      |   | $              | 142,411 |   |          | $      | 144,675 |   |   | $ | 144,969 |   |   | $ | 147,280 |   |
| Federal Home Loan Bank advances               |   |           | 25,926  |   |          |   | 24,778 |   |   |   | 32,009 |   |   |   | 30,590 |   |
| Advances by borrowers for taxes and insurance |   |           | 321     |   |          |   | 321 |   |   |   | 335 |   |   |   | 335 |   |
| Accrued interest payable                      |   |           | 113     |   |          |   | 113 |   |   |   | 145 |   |   |   | 145 |   |

----

|                                                                    |   | Nine Months Ended March 31, |    |
|-------------------------------------------------------------------------|--------|-----------------------------|---------|
|                                                                    |   | 2011                        |    |   | 2010 |   |
|                                                                    |   | AverageBalance              |    |   | InterestAndDividends |   |   | Yield/Cost |   |   | Average Balance |   |   | InterestAnd Dividends |   |   | Yield/Cost |   |
|                                                                    |   | (Dollars in thousands)      |    |
| Interest-earning assets:                                                |   |                        |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                                                                   |   | $                           | 190,950 |   |   | $ | 7,644 |   |   |   | 5.34 | % |   | $ | 191,390 |   |   | $ | 7,984 |   |   |   | 5.56 | % |
| Mortgage-backed securities                                              |   |                        | 8,689   |   |   |   | 277 |   |   |   | 4.25 |   |   |   | 11,502 |   |   |   | 367 |   |   |   | 4.25 |   |
| Other securities                                                        |   |                        | 1,264   |   |   |   | 2 |   |   |   | 0.21 |   |   |   | 5,274 |   |   |   | 135 |   |   |   | 3.41 |   |
| Other interest-earning assets                                           |   |                        | 12,826  |   |   |   | 184 |   |   |   | 1.91 |   |   |   | 8,735 |   |   |   | 197 |   |   |   | 3.01 |   |
| Total interest-earning assets                                           |   |                        | 213,729 |   |   |   | 8,107 |   |   |   | 5.06 |   |   |   | 216,901 |   |   |   | 8,683 |   |   |   | 5.34 |   |
|                                                                    |   |                        |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Less: Allowance for loan losses                                         |   |                        | (1,532  | ) |   |   |   |   |   |   |   |   |   |   | (1,292 | ) |   |   |   |   |   |   |   |   |
| Non-interest-earning assets                                             |   |                        | 23,228  |   |   |   |   |   |   |   |   |   |   |   | 22,857 |   |   |   |   |   |   |   |   |   |
| Total assets                                                            |   | $                           | 235,425 |   |   |   |   |   |   |   |   |   |   | $ | 238,466 |   |   |   |   |   |   |   |   |   |
|                                                                    |   |                        |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                                           |   |                        |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand deposits                                                         |   | $                           | 13,727  |   |   | $ | 65 |   |   |   | 0.63 | % |   | $ | 12,594 |   |   | $ | 80 |   |   |   | 0.85 | % |
| Savings                                                                 |   |                        | 30,690  |   |   |   | 227 |   |   |   | 0.99 |   |   |   | 29,513 |   |   |   | 217 |   |   |   | 0.98 |   |
| Certificates of deposit                                                 |   |                        | 99,994  |   |   |   | 1,712 |   |   |   | 2.28 |   |   |   | 100,035 |   |   |   | 2,359 |   |   |   | 3.14 |   |
| Total deposits                                                          |   |                        | 144,411 |   |   |   | 2,004 |   |   |   | 1.85 |   |   |   | 142,142 |   |   |   | 2,656 |   |   |   | 2.49 |   |
| Borrowings                                                              |   |                        | 30,817  |   |   |   | 545 |   |   |   | 2.36 |   |   |   | 35,817 |   |   |   | 1,195 |   |   |   | 4.45 |   |
| Total interest-bearing liabilities                                      |   |                        | 175,228 |   |   |   | 2,549 |   |   |   | 1.94 |   |   |   | 177,959 |   |   |   | 3,851 |   |   |   | 2.89 |   |
|                                                                    |   |                        |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Noninterest-Bearing demand deposits                                     |   |                        | 942     |   |   |   |   |   |   |   |   |   |   |   | 699 |   |   |   |   |   |   |   |   |   |
| Noninterest-bearing liabilities                                         |   |                        | 1,826   |   |   |   |   |   |   |   |   |   |   |   | 2,513 |   |   |   |   |   |   |   |   |   |
| Total liabilities                                                       |   |                        | 177,996 |   |   |   |   |   |   |   |   |   |   |   | 181,171 |   |   |   |   |   |   |   |   |   |
|                                                                    |   |                        |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Shareholders’ equity                                              |   |                        | 57,429  |   |   |   |   |   |   |   |   |   |   |   | 57,295 |   |   |   |   |   |   |   |   |   |
| Total liabilities and shareholders’ equity                        |   | $                           | 235,425 |   |   |   |   |   |   |   |   |   |   | $ | 238,466 |   |   |   |   |   |   |   |   |   |
| Net interest income/average yield                                       |   |                        |    |   |   | $ | 5,558 |   |   |   | 3.12 | % |   |   |   |   |   | $ | 4,832 |   |   |   | 2.45 | % |
| Net interest margin                                                     |   |                        |    |   |   |   |   |   |   |   | 3.47 | % |   |   |   |   |   |   |   |   |   |   | 2.97 | % |
| Average interest-earning assets to average interest-bearing liabilities |   |                        |    |   |   |   |   |   |   |   | 121.97 | % |   |   |   |   |   |   |   |   |   |   | 121.88 | % |

----

|                                                                    |   | Three Months Ended March 31, |    |
|-------------------------------------------------------------------------|--------|------------------------------|---------|
|                                                                    |   | 2011                         |    |   | 2010 |   |
|                                                                    |   | AverageBalance               |    |   | InterestAndDividends |   |   | Yield/Cost |   |   | Average Balance |   |   | InterestAnd Dividends |   |   | Yield/Cost |   |
|                                                                    |   | (Dollars in thousands)       |    |
| Interest-earning assets:                                                |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loans                                                                   |   | $                            | 188,757 |   |   | $ | 2,485 |   |   |   | 5.27 | % |   | $ | 193,052 |   |   | $ | 2,701 |   |   |   | 5.60 | % |
| Mortgage-backed securities                                              |   |                         | 7,845   |   |   |   | 84 |   |   |   | 4.28 |   |   |   | 10,860 |   |   |   | 115 |   |   |   | 4.24 |   |
| Other securities                                                        |   |                         | 711     |   |   |   | 1 |   |   |   | 0.56 |   |   |   | 5,157 |   |   |   | 44 |   |   |   | 3.41 |   |
| Other interest-earning assets                                           |   |                         | 12,127  |   |   |   | 65 |   |   |   | 2.14 |   |   |   | 9,580 |   |   |   | 64 |   |   |   | 2.67 |   |
| Total interest-earning assets                                           |   |                         | 209,440 |   |   |   | 2,635 |   |   |   | 5.03 |   |   |   | 218,649 |   |   |   | 2,924 |   |   |   | 5.35 |   |
|                                                                    |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Less: Allowance for loan losses                                         |   |                         | (1,545  | ) |   |   |   |   |   |   |   |   |   |   | (1,618 | ) |   |   |   |   |   |   |   |   |
| Non-interest-earning assets                                             |   |                         | 23,064  |   |   |   |   |   |   |   |   |   |   |   | 23,112 |   |   |   |   |   |   |   |   |   |
| Total assets                                                            |   | $                            | 230,959 |   |   |   |   |   |   |   |   |   |   | $ | 240,143 |   |   |   |   |   |   |   |   |   |
|                                                                    |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest-bearing liabilities:                                           |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Demand deposits                                                         |   | $                            | 13,880  |   |   | $ | 16 |   |   |   | 0.46 | % |   | $ | 14,656 |   |   | $ | 22 |   |   |   | 0.60 | % |
| Savings                                                                 |   |                         | 31,020  |   |   |   | 77 |   |   |   | 0.99 |   |   |   | 29,796 |   |   |   | 72 |   |   |   | 0.97 |   |
| Certificates of deposit                                                 |   |                         | 97,994  |   |   |   | 491 |   |   |   | 2.00 |   |   |   | 101,490 |   |   |   | 720 |   |   |   | 2.84 |   |
| Total deposits                                                          |   |                         | 142,894 |   |   |   | 584 |   |   |   | 1.64 |   |   |   | 145,942 |   |   |   | 814 |   |   |   | 2.23 |   |
| Borrowings                                                              |   |                         | 27,363  |   |   |   | 141 |   |   |   | 2.06 |   |   |   | 36,342 |   |   |   | 389 |   |   |   | 4.28 |   |
| Total interest-bearing liabilities                                      |   |                         | 170,257 |   |   |   | 725 |   |   |   | 1.70 |   |   |   | 182,284 |   |   |   | 1,203 |   |   |   | 2.64 |   |
|                                                                    |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Noninterest-Bearing demand deposits                                     |   |                         | 757     |   |   |   |   |   |   |   |   |   |   |   | 1,054 |   |   |   |   |   |   |   |   |   |
| Noninterest-bearing liabilities                                         |   |                         | 1,488   |   |   |   |   |   |   |   |   |   |   |   | 1,997 |   |   |   |   |   |   |   |   |   |
| Total liabilities                                                       |   |                         | 172,502 |   |   |   |   |   |   |   |   |   |   |   | 185,335 |   |   |   |   |   |   |   |   |   |
|                                                                    |   |                         |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Shareholders’ equity                                              |   |                         | 58,457  |   |   |   |   |   |   |   |   |   |   |   | 54,808 |   |   |   |   |   |   |   |   |   |
| Total liabilities and shareholders’ equity                        |   | $                            | 230,959 |   |   |   |   |   |   |   |   |   |   | $ | 240,143 |   |   |   |   |   |   |   |   |   |
| Net interest income/average yield                                       |   |                         |    |   |   | $ | 1,910 |   |   |   | 3.33 | % |   |   |   |   |   | $ | 1,721 |   |   |   | 2.71 | % |
| Net interest margin                                                     |   |                         |    |   |   |   |   |   |   |   | 3.65 | % |   |   |   |   |   |   |   |   |   |   | 3.15 | % |
| Average interest-earning assets to average interest-bearing liabilities |   |                         |    |   |   |   |   |   |   |   | 123.01 | % |   |   |   |   |   |   |   |   |   |   | 119.95 | % |

----

|                                                                                                                                                                                                                                                                                                                                                                                         |   | Number |   |   |     |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|----------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                         |   | of     |   |   | Carrying |   |
|                                                                                                                                                                                                                                                                                                                                                                                         |   | Loans  |   |   | Value    |   |
| 1-4 family, owner occupied                                                                                                                                                                                                                                                                                                                                                              |   |   | 26     |   |     | $      | 1,637 |   |
| 1-4 family, non-owner occupied                                                                                                                                                                                                                                                                                                                                                               |   |   | 5      |   |     |   | 880 |   |
| Multi-family, non-owner occupied                                                           |   |   | 2      |   |     |   | 1,059 |   |
|       Total substandard loans                                                                                                                                                                                                                                                                                                                                  |   |   | 33     |   |     | $      | 3,576 |   |

----

|                                                        |   | Number     |   |   | Aggregate |   |
|-------------------------------------------------------------|--------|------------|--------|--------|-----------|--------|
|                                                        |   | of         |   |   | Carrying  |   |
|                                                        |   | Properties |   |   | Value     |   |
| Single-family homes                                    |   |       | 39     |   |      | $      | 1,927 |   |
| 2-4 family properties                                       |   |       | 12     |   |      |   | 1,488 |   |
| 16-plex                                                     |   |       | 1      |   |      |   | 236 |   |
| Building lot                                           |   |       | 1      |   |      |   | 15 |   |
|       Total substandard loans |   |       | 53     |   |      | $      | 3,666 |   |

----

----

----

----

----

| ·   | Changed the method of calculating the number of shares to be committed to be released to participants; and |
|--------------------|------------------------------------------------------------------------------------------------------------|

| ·   | Segregated the dividends associated with unallocated ESOP shares from Company funds. |
|--------------------|--------------------------------------------------------------------------------------|

----

|                |   |                 |    |                |   |   | Total # of              |   |   | Maximum # of shares   |    |
|---------------------|--------|----------------------|---------|---------------------|--------|--------|-------------------------|--------|--------|-----------------------|---------|
|                |   |                 |    | Average             |   |   | shares purchased        |   |   | that may yet be       |    |
|                |   | Total                |    | price paidper share |   |   |  publiclyannounced |   |   | purchased under       |    |
| Period              |   | # of sharespurchased |    | (incl commissions)  |   |   | plans or programs       |   |   | the plans or programs |    |
| January 1-31, 2011  |   |                 | — |                |   | $      | —                 |   |   |                  | — |   |   |   | 97,500 |   |
| February 1-28, 2011 |   |                 | 5,000   |                |   | $      | —                 |   |   |                  | — |   |   |   | 92,500 |   |
| March 1-31, 2011    |   |                 | — |                |   | $      | —                 |   |   |                  | — |   |   |   | 92,500 |   |

| 3.11 |   | Charter of Kentucky First Federal Bancorp                                   |
|------|--------|-----------------------------------------------------------------------------|
| 3.21 |   | Bylaws of Kentucky First Federal Bancorp                                    |
| 4.11 |   | Specimen Stock Certificate of Kentucky First Federal Bancorp                |
| 31.1 |   | CEO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
| 31.2 |   | CFO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
| 32.1 |   | CEO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
| 32.2 |   | CFO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |

----

----

|               | KENTUCKY FIRST FEDERAL BANCORP |                                              |
|--------------------|--------------------------------|---------------------------------------------------|
|               |                           |                                              |   |
| Date: May 16, 2011 | By:                            | /s/ Tony D. Whitaker                    |   |
|               |                           | Tony D. Whitaker                                  |   |
|               |                           | Chairman of the Board and Chief Executive Officer |   |
|               |                           |                                              |   |

| Date: May 16, 2011   | By:    | /s/ R. Clay Hulette              |   |
|-------------------------------------|--------|--------------------------------------------|--------|
|                                |   | R. Clay Hulette                            |   |
|                                |   | Vice President and Chief Financial Officer |   |

----