Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Sep. 07, 2023 | Dec. 31, 2022 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0001006830 | ||
Entity Registrant Name | CONSUMERS BANCORP INC /OH/ | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --06-30 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Jun. 30, 2023 | ||
Entity File Number | 033-79130 | ||
Entity Incorporation, State or Country Code | OH | ||
Entity Tax Identification Number | 34-1771400 | ||
Entity Address, Address Line One | 614 East Lincoln Way | ||
Entity Address, City or Town | Minerva | ||
Entity Address, State or Province | OH | ||
Entity Address, Postal Zip Code | 44657 | ||
City Area Code | 330 | ||
Local Phone Number | 868-7701 | ||
Title of 12(g) Security | Common Shares, no par value | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 53,283,395 | ||
Entity Common Stock, Shares Outstanding | 3,096,100 | ||
Auditor Name | Plante & Moran, PLLC | ||
Auditor Location | Auburn Hills, MI | ||
Auditor Firm ID | 166 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
ASSETS: | ||
Cash on hand and noninterest-bearing deposits in financial institutions | $ 11,734 | $ 11,254 |
Federal funds sold and interest-bearing deposits in financial institutions | 21 | 9,698 |
Total cash and cash equivalents | 11,755 | 20,952 |
Certificates of deposit in financial institutions | 2,501 | 3,781 |
Securities, available-for-sale | 279,605 | 296,347 |
Securities, held-to-maturity (fair value 2023 $6,294 and 2022 $7,831) | 6,970 | 7,874 |
Equity securities, at fair value | 386 | 400 |
Federal bank and other restricted stocks, at cost | 2,168 | 2,525 |
Loans held for sale | 764 | 1,165 |
Total loans | 710,362 | 611,843 |
Less allowance for loan losses | (7,724) | (7,160) |
Net loans | 702,638 | 604,683 |
Cash surrender value of life insurance | 10,222 | 9,959 |
Premises and equipment, net | 17,182 | 16,521 |
Goodwill | 2,452 | 2,452 |
Core deposit intangible, net | 414 | 470 |
Accrued interest receivable and other assets | 22,967 | 10,184 |
Total assets | 1,060,024 | 977,313 |
LIABILITIES: | ||
Noninterest-bearing demand | 250,906 | 257,665 |
Interest bearing demand | 152,053 | 157,462 |
Savings | 335,231 | 369,054 |
Time | 214,343 | 102,381 |
Total deposits | 952,533 | 886,562 |
Short-term borrowings | 26,367 | 21,295 |
Federal Home Loan Bank advances | 8,776 | 8,256 |
Accrued interest payable and other liabilities | 16,864 | 7,230 |
Total liabilities | 1,004,540 | 923,343 |
Commitments and contingent liabilities (Note 14) | ||
SHAREHOLDERS’ EQUITY: | ||
Preferred stock, no par value; 350,000 shares authorized | 0 | 0 |
Common shares, no par value; 8,500,000 shares authorized; 3,144,739 and 3,132,056 shares issued as of June 30, 2023 and June 30, 2022, respectively | 20,769 | 20,287 |
Retained earnings | 65,485 | 56,906 |
Treasury stock, at cost (48,639 and 75,382 common shares at June 30, 2023 and 2022, respectively) | (809) | (1,117) |
Accumulated other comprehensive loss | (29,961) | (22,106) |
Total shareholders’ equity | 55,484 | 53,970 |
Total liabilities and shareholders’ equity | $ 1,060,024 | $ 977,313 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Held-to-maturity securities, fair value | $ 6,294 | $ 7,831 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 350,000 | 350,000 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 8,500,000 | 8,500,000 |
Common stock, shares issued (in shares) | 3,144,739 | 3,132,056 |
Treasury stock, shares (in shares) | 48,639 | 75,382 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Interest and dividend income: | ||
Loans, including fees | $ 32,754 | $ 28,207 |
Securities, taxable | 5,338 | 3,572 |
Securities, tax-exempt | 2,258 | 2,076 |
Equity securities | 33 | 33 |
Federal bank and other restricted stocks | 149 | 82 |
Federal funds sold and interest-bearing deposits | 407 | 190 |
Total interest and dividend income | 40,939 | 34,160 |
Interest expense: | ||
Deposits | 6,660 | 1,122 |
Short-term borrowings | 397 | 47 |
Federal Home Loan Bank advances | 167 | 245 |
Total interest expense | 7,224 | 1,414 |
Net interest income | 33,715 | 32,746 |
Provision for loan losses | 855 | 735 |
Net interest income after provision for loan losses | 32,860 | 32,011 |
Other income: | ||
Noninterest income (in scope of Topic 606) | 4,139 | 3,864 |
Bank owned life insurance income | 263 | 257 |
Mortgage banking activity | 345 | 632 |
Securities gains, net | 14 | 6 |
Net change in market value of equity securities | (14) | (24) |
Other | 360 | 335 |
Total other income | 4,747 | 4,735 |
Other expenses: | ||
Salaries and employee benefits | 14,020 | 13,260 |
Occupancy and equipment | 3,186 | 3,028 |
Data processing expenses | 775 | 795 |
Debit card processing expenses | 1,124 | 1,025 |
Professional and director fees | 1,065 | 878 |
Federal Deposit Insurance Corporation assessments | 608 | 580 |
Financial institutions tax | 478 | 542 |
Marketing and advertising | 740 | 663 |
Loan and collection expenses | 211 | 174 |
Telephone and communications | 362 | 375 |
Amortization of intangible | 56 | 54 |
Other | 2,060 | 1,841 |
Total other expenses | 24,685 | 23,215 |
Income before income taxes | 12,922 | 13,531 |
Income tax expense | 2,248 | 2,339 |
Net income | $ 10,674 | $ 11,192 |
Basic and diluted earnings per share (in dollars per share) | $ 3.45 | $ 3.68 |
Deposit Account [Member] | ||
Other income: | ||
Noninterest income (in scope of Topic 606) | $ 1,598 | $ 1,460 |
Debit Card [Member] | ||
Other income: | ||
Noninterest income (in scope of Topic 606) | $ 2,181 | $ 2,069 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Net income | $ 10,674 | $ 11,192 | |
Other comprehensive income (loss), net of tax: | |||
Unrealized losses arising during the period | (9,929) | (32,469) | |
Reclassification adjustment for gains included in income | [1],[2] | (14) | (6) |
Net unrealized loss | (9,943) | (32,475) | |
Income tax effect | 2,088 | 6,819 | |
Other comprehensive loss | (7,855) | (25,656) | |
Total comprehensive income (loss) | $ 2,819 | $ (14,464) | |
[1]Income tax expense[2]Securities gain, net |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | Treasury Stock, Common [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Jun. 30, 2021 | $ 20,011 | $ 47,663 | $ (1,324) | $ 3,550 | $ 69,900 |
Net income | 11,192 | 11,192 | |||
Other comprehensive loss | 0 | 0 | 0 | (25,656) | (25,656) |
Shares issued associated with dividend reinvestment plan and stock purchase plan | 174 | 174 | |||
Shares associated with stock awards | 102 | 0 | 207 | 0 | 309 |
Cash dividends declared | (1,949) | (1,949) | |||
Balance at Jun. 30, 2022 | 20,287 | 56,906 | (1,117) | (22,106) | 53,970 |
Net income | 0 | 10,674 | 0 | 0 | 10,674 |
Other comprehensive loss | 0 | 0 | 0 | (7,855) | (7,855) |
Shares issued associated with dividend reinvestment plan and stock purchase plan | 238 | 0 | 0 | 0 | 238 |
Shares associated with stock awards | 85 | 0 | 308 | 0 | 393 |
Cash dividends declared | 0 | (2,095) | 0 | 0 | (2,095) |
Restricted stock expense | 159 | 0 | 0 | 159 | |
Balance at Jun. 30, 2023 | $ 20,769 | $ 65,485 | $ (809) | $ (29,961) | $ 55,484 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Common stock, dividends, per share, declared (in dollars per share) | $ 0.68 | $ 0.64 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Cash flows from operating activities: | ||
Net income | $ 10,674 | $ 11,192 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Depreciation | 1,051 | 991 |
Securities amortization and accretion, net | 818 | 1,449 |
Provision for loan losses | 855 | 735 |
Loss on disposal of fixed assets | 0 | 6 |
Loss on disposition of other real estate and repossessed assets owned | 0 | 5 |
Mortgage banking activity | (345) | (632) |
Deferred income tax (benefit) expense | (96) | 146 |
Gain on sale of securities | (14) | (6) |
Net change in market value of equity securities | 14 | 24 |
Amortization of intangibles | 56 | 54 |
Origination of loans held for sale | (20,762) | (45,758) |
Proceeds from loans held for sale | 21,508 | 46,682 |
Increase in cash surrender value of life insurance | (263) | (257) |
Change in other assets and other liabilities | (180) | 316 |
Net cash flows from operating activities | 13,316 | 14,947 |
Securities available-for-sale: | ||
Purchases | (31,799) | (141,210) |
Maturities, calls and principal pay downs | 21,322 | 31,584 |
Proceeds from sales of available-for-sale securities | 16,472 | 2,722 |
Securities held-to-maturity: | ||
Purchases | 0 | (3,450) |
Principal pay downs | 904 | 3,572 |
Net decrease in certificates of deposit with other financial institutions | 1,280 | 2,044 |
Purchase of Federal Reserve Bank stock, at cost | 357 | (53) |
Net increase in loans | (98,945) | (25,602) |
Acquisition, net of cash received | 0 | 66,552 |
Acquisition of premises and equipment | (1,821) | (1,477) |
Disposal of premises and equipment | 0 | 18 |
Proceeds from sale of other real estate and repossessed assets owned | 11 | 78 |
Net cash flows from investing activities | (92,219) | (65,222) |
Cash flows from financing activities: | ||
Net increase in deposit accounts | 65,971 | 55,175 |
Proceeds from Federal Home Loan Bank advances | 17,000 | 0 |
Repayments of Federal Home Loan Bank advances | (16,480) | (9,794) |
Change in short-term borrowings | 5,072 | 9,092 |
Proceeds from dividend reinvestment and stock purchase plan | 238 | 174 |
Dividends paid | (2,095) | (1,949) |
Net cash flows from financing activities | 69,706 | 52,698 |
(Decrease) increase in cash and cash equivalents | (9,197) | 2,423 |
Cash and cash equivalents, beginning of year | 20,952 | 18,529 |
Cash and cash equivalents, end of year | 11,755 | 20,952 |
Supplemental disclosure of cash flow information: | ||
Interest | 6,929 | 1,416 |
Federal income taxes | 2,495 | 1,850 |
Non-cash items: | ||
Transfer from loans to other repossessed assets | 11 | 83 |
Transfer from loans to other real estate owned | 124 | 0 |
Issuance of treasury stock for stock awards | 393 | 309 |
Branch acquisition: | ||
Goodwill | 2,452 | 2,452 |
Net noncash liabilities assumed | 0 | (66,552) |
CFBank Branches [Member] | ||
Branch acquisition: | ||
Securities, available-for-sale | 0 | 15,602 |
Loans | 0 | 19,943 |
Premises and equipment | 0 | 413 |
Goodwill | 0 | 1,616 |
Core deposit intangible | 0 | 295 |
Accrued interest receivable and other assets | 0 | 216 |
Total noncash assets acquired | 0 | 38,085 |
Deposits | 0 | 104,538 |
Other liabilities | 0 | 99 |
Total liabilities assumed | $ 0 | $ 104,637 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation: Nature of Operations: Business Segment Information: Acquisition: Use of Estimates: Cash and Cash Equivalents: 90 Interest Bearing Deposits in Other Financial Institutions: one Certificates of Deposit in Financial Institutions: Cash Reserves: June 30, 2023 2022. Securities: may Interest income includes amortization of purchase premiums and accretion of discounts. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities and collateralized mortgage obligations where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (OTTI) on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. The evaluation of securities includes consideration given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, whether the market decline was affected by macroeconomic conditions and whether the Corporation has the intent to sell the security or it is more likely than not may When OTTI occurs, the amount of the OTTI recognized in earnings depends on whether the Corporation intends to sell the security, or it is more likely than not not not Equity Securities: Federal Bank and Other Restricted Stocks: may Loans Held for Sale: Mortgage Banking Derivatives: Loans: Interest income on commercial, commercial real estate and 1 4 90 no 120 All interest accrued but not six Loan Commitments and Related Financial Instruments: Concentrations of Credit Risk: Allowance for Loan Losses: may The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-classified loans and is based on historical loss experience adjusted for current factors. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans, for which the terms have been modified, resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings, and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not Impairment is evaluated collectively for smaller-balance loans of similar nature such as residential mortgage, consumer loans and on an individual loan basis for other loans. If a loan is impaired, a portion of the allowance is allocated so the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected from the collateral. Loans are evaluated for impairment when payments are delayed, typically 90 not The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors based on the risks present for each portfolio segment. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Corporation over the most recent three Commercial: may not may may may Commercial Real Estate: may 1 4 one four no 85% Consumer Low Income Housing Tax Credits (LIHTC) Other Real Estate and Repossessed Assets Owned: Transfers of Financial Assets: not Premises and Equipment: three thirty-nine one Cash Surrender Value of Life Insurance: June 30, 2023, June 30, 2022, Goodwill and Other Intangible Assets: not April 30 Long-Term Assets: may not Repurchase Agreements: not Retirement Plans: 401 Income Taxes: not not 50% Earnings per Common Share: Stock-Based Compensation: Comprehensive Income: Loss Contingencies: not Fair Value of Financial Instruments: 15 Dividend Restrictions: may Reclassifications: June 30, 2022 June 30, 2023 no Recently Issued Accounting Pronouncements Not June 2016, 2016 13, 326 326 2016 13 2016 13 December 15, 2019. December 15, 2018, July 2019, January 2023 October 16, 2019, December 15, 2022 The Corporation adopted this new guidance on July 1, 2023. No. 2016 13 not one In March 2022, 2022 02, 326 326 326 2016 13 December 15, 2022. not |
Note 2 - Acquisition
Note 2 - Acquisition | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 2 ACQUISITION On July 16, 2021, two The following table summarizes the estimated fair values of the assets acquired and liabilities assumed by the Corporation at the date of acquisition. The core deposit intangible will be amortized over ten not Assets acquired: Cash and cash equivalents $ 515 Securities, available-for-sale 15,602 Loans 19,943 Premises and equipment 413 Core deposit intangible 295 Accrued interest receivable 216 Total assets acquired 36,984 Liabilities assumed: Noninterest-bearing deposits 10,535 Interest-bearing deposits 94,003 Other liabilities 99 Total liabilities assumed 104,637 Fair value of net liabilities assumed (67,653 ) Cash received 66,037 Goodwill $ 1,616 The acquired assets and liabilities were measured at estimated fair values. Management made certain estimates and exercised judgement in accounting for the acquisition. The fair value of loans was estimated using discounted contractual cash flows. The book balance of the loans at the time of the acquisition was $20,325. The fair value disclosed above reflects a credit-related adjustment of $(388) and an adjustment for other factors of $6. Loans evidencing credit deterioration since origination, purchased credit impaired loans, included in loans receivable were immaterial. Acquisition costs of $144 pre-tax, or $118 after-tax, were recorded during fiscal year 2022. |
Note 3 - Securities
Note 3 - Securities | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3 SECURITIES The following table summarizes the amortized cost and fair value of securities available-for-sale and held-to-maturity at June 30, 2023 2022 Available-for-sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2023 Obligation of U.S Treasury $ 8,941 $ — $ (533 ) $ 8,408 Obligations of U.S. government-sponsored entities and agencies 29,430 7 (3,745 ) 25,692 Obligations of state and political subdivisions 92,891 63 (8,982 ) 83,972 U.S. Government-sponsored mortgage-backed securities - residential 104,689 12 (15,066 ) 89,635 U.S. Government-sponsored mortgage-backed securities - commercial 8,604 — (1,809 ) 6,795 U.S. Government-sponsored collateralized mortgage obligations – residential 55,800 8 (5,738 ) 50,070 Other debt securities 17,175 — (2,142 ) 15,033 Total available-for-sale securities $ 317,530 $ 90 $ (38,015 ) $ 279,605 Held-to-maturity Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value June 30, 2023 Obligations of state and political subdivisions $ 6,970 $ — $ (676 ) $ 6,294 Available-for-sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2022 Obligation of U.S Treasury $ 8,909 $ — $ (462 ) $ 8,447 Obligations of U.S. government-sponsored entities and agencies 28,689 — (2,424 ) 26,265 Obligations of state and political subdivisions 105,977 129 (8,749 ) 97,357 U.S. Government-sponsored mortgage-backed securities - residential 113,812 13 (11,642 ) 102,183 U.S. Government-sponsored mortgage-backed securities - commercial 8,623 — (1,322 ) 7,301 U.S. Government-sponsored collateralized mortgage obligations – residential 40,952 1 (2,774 ) 38,179 Other debt securities 17,367 — (752 ) 16,615 Total available-for-sale securities $ 324,329 $ 143 $ (28,125 ) $ 296,347 Held-to-maturity Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value June 30, 2022 Obligations of state and political subdivisions $ 7,874 $ 47 $ (90 ) $ 7,831 Proceeds from sales of available-for-sale securities during fiscal year 2023 2022 2023 2022 Proceeds from sales $ 16,472 $ 2,722 Gross realized gains 87 8 Gross realized losses (73 ) (2 ) The income tax provision related to the net realized gains amounted to $3 in fiscal year 2023 2022. The amortized cost and fair values of debt securities at June 30, 2023 may not Available-for-sale Amortized Cost Fair Value Due in one year or less $ 4,997 $ 4,899 Due after one year through five years 29,105 27,640 Due after five years through ten years 51,133 44,817 Due after ten years 63,202 55,749 Total 148,437 133,105 U.S. Government-sponsored mortgage-backed and related securities 169,093 146,500 Total $ 317,530 $ 279,605 Held-to-maturity Amortized Cost Fair Value Due after one year through five years $ 3,092 $ 2,988 Due after five years through ten years 533 488 Due after ten years 3,345 2,818 Total $ 6,970 $ 6,294 Securities with a carrying value of approximately $137,896 and $126,679 were pledged at June 30, 2023 2022, June 30, 2023 2022, no one 10% The following table summarizes the securities with unrealized and unrecognized losses at June 30, 2023 2022, Less than 12 Months 12 Months or more Total June 30, 2023 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Available-for-sale Obligations of U.S Treasury $ — $ — $ 8,408 $ (533 ) $ 8,408 $ (533 ) Obligations of U.S. government-sponsored entities and agencies 1,008 (10 ) 23,551 (3,735 ) 24,559 (3,745 ) Obligations of state and political subdivisions 16,009 (344 ) 62,492 (8,638 ) 78,501 (8,982 ) Mortgage-backed securities – residential 3,334 (84 ) 85,096 (14,982 ) 88,430 (15,066 ) Mortgage-backed securities – commercial — — 6,795 (1,809 ) 6,795 (1,809 ) Collateralized mortgage obligations - residential 22,039 (638 ) 27,023 (5,100 ) 49,062 (5,738 ) Other debt securities — — 15,033 (2,142 ) 15,033 (2,142 ) Total temporarily impaired $ 42,390 $ (1,076 ) $ 228,398 $ (36,939 ) $ 270,788 $ (38,015 ) Less than 12 Months 12 Months or more Total June 30, 2023 Fair Value Unrecognized Loss Fair Value Unrecognized Loss Fair Value Unrecognized Loss Held-to-maturity Obligations of state and political subdivisions $ — $ — $ 6,294 $ (676 ) $ 6,294 $ (676 ) Less than 12 Months 12 Months or more Total June 30, 2022 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Available-for-sale Obligations of U.S Treasury $ 8,447 $ (462 ) $ — $ — $ 8,447 $ (462 ) Obligations of U.S. government-sponsored entities and agencies 26,265 (2,424 ) — — 26,265 (2,424 ) Obligations of state and political subdivisions 80,445 (8,331 ) 2,047 (418 ) 82,492 (8,749 ) Mortgage-backed securities – residential 76,526 (7,586 ) 24,569 (4,056 ) 101,095 (11,642 ) Mortgage-backed securities – commercial 7,301 (1,322 ) — — 7,301 (1,322 ) Collateralized mortgage obligations – residential 30,729 (2,308 ) 2,713 (466 ) 33,442 (2,774 ) Other debt securities 16,156 (711 ) 459 (41 ) 16,615 (752 ) Total temporarily impaired $ 245,869 $ (23,144 ) $ 29,788 $ (4,981 ) $ 275,657 $ (28,125 ) Less than 12 Months 12 Months or more Total June 30, 2022 Fair Value Unrecognized Loss Fair Value Unrecognized Loss Fair Value Unrecognized Loss Held-to-maturity Obligations of state and political subdivisions $ 3,522 $ (90 ) $ — $ — $ 3,522 $ (90 ) Management evaluates securities for other-than-temporary impairment (OTTI) on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. The securities portfolio is evaluated for OTTI by segregating the portfolio into two 320, Accounting for Certain Investments in Debt and Equity Securities In determining OTTI under the ASC Topic 320 1 2 3 4 not As of June 30, 2023, June 30, 2023, twelve June 30, 2023. 2023 not no not not may not June 30, 2023. no June 30, 2022. As of June 30, 2023, twelve June 30, 2023 2022. 2023 2022 Unrealized loss recognized on equity securities held at the end of the period $ (14 ) $ (24 ) |
Note 4 - Loans
Note 4 - Loans | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 LOANS Major classifications of loans were as follows as of June 30: 2023 2022 Commercial $ 112,558 $ 87,008 Commercial real estate: Construction 23,981 15,158 Other 318,636 291,847 1 – 4 Family residential real estate: Owner occupied 156,989 142,244 Non-owner occupied 23,880 26,029 Construction 8,443 4,317 Consumer 65,617 44,964 Subtotal 710,104 611,567 Net deferred loan fees and costs 258 276 Allowance for loan losses (7,724 ) (7,160 ) Net loans $ 702,638 $ 604,683 The following table presents the activity in the allowance for loan losses by portfolio segment for the year ended June 30, 2023: 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Beginning balance $ 960 $ 3,927 $ 1,645 $ 628 $ 7,160 Provision for loan losses 348 15 (72 ) 564 855 Loans charged-off — — (6 ) (441 ) (447 ) Recoveries — 1 4 151 156 Total ending allowance balance $ 1,308 $ 3,943 $ 1,571 $ 902 $ 7,724 The following table presents the activity in the allowance for loan losses by portfolio segment for the year ended June 30, 2022: 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Beginning balance $ 904 $ 3,949 $ 1,307 $ 311 $ 6,471 Provision for loan losses 33 (24 ) 359 367 735 Loans charged-off — — (41 ) (132 ) (173 ) Recoveries 23 2 20 82 127 Total ending allowance balance $ 960 $ 3,927 $ 1,645 $ 628 $ 7,160 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2023. 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ — $ — Acquired loans collectively evaluated for impairment — 40 74 — 114 Originated loans collectively evaluated for impairment 1,308 3,903 1,497 902 7,610 Total ending allowance balance $ 1,308 $ 3,943 $ 1,571 $ 902 $ 7,724 Recorded investment in loans: Loans individually evaluated for impairment $ 314 $ 88 $ 3 $ — $ 405 Acquired loans collectively evaluated for impairment 622 6,953 23,038 1,230 31,843 Originated loans collectively evaluated for impairment 111,890 335,660 167,798 64,364 679,712 Total ending loans balance $ 112,826 $ 342,701 $ 190,839 $ 65,594 $ 711,960 The following table presents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2022. 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ — $ — Acquired loans collectively evaluated for impairment 1 62 85 — 148 Originated loans collectively evaluated for impairment 959 3,865 1,560 628 7,012 Total ending allowance balance $ 960 $ 3,927 $ 1,645 $ 628 $ 7,160 Recorded investment in loans: Loans individually evaluated for impairment $ 276 $ 42 $ 155 $ — $ 473 Acquired loans collectively evaluated for impairment 665 10,095 27,731 3,051 41,542 Originated loans collectively evaluated for impairment 86,310 296,776 146,058 41,898 571,042 Total ending loans balance $ 87,251 $ 306,913 $ 173,944 $ 44,949 $ 613,057 The following table presents information related to loans individually evaluated for impairment by class of loans as of and for the year ended June 30, 2023: Unpaid Allowance for Average Interest Cash Basis Principal Recorded Loan Losses Recorded Income Interest Balance Investment Allocated Investment Recognized Recognized With no related allowance recorded: Commercial $ 404 $ 314 $ — $ 306 $ 37 $ 37 Commercial real estate: Other 127 88 — 52 6 6 1-4 Family residential real estate: Owner occupied 24 — — 38 2 2 Non-owner occupied 3 3 — 29 — — Total $ 558 $ 405 $ — $ 425 $ 45 $ 45 The following table presents information related to loans individually evaluated for impairment by class of loans as of and for the year ended June 30, 2022: Unpaid Allowance for Average Interest Cash Basis Principal Recorded Loan Losses Recorded Income Interest Balance Investment Allocated Investment Recognized Recognized With no related allowance recorded: Commercial $ 414 $ 276 $ — $ 291 $ — $ — Commercial real estate: Other 83 42 — 518 193 193 1-4 Family residential real estate: Owner occupied 48 22 — 187 8 8 Non-owner occupied 193 133 — 93 75 75 With an allowance recorded: Commercial — — — 113 6 6 Total $ 738 $ 473 $ — $ 1,202 $ 282 $ 282 The following table presents the recorded investment in non-accrual and loans past due over 90 June 30, 2023 2022: June 30, 2023 June 30, 2022 Loans Past Due Loans Past Due Over 90 Days Over 90 Days Still Still Non-accrual Accruing Non-accrual Accruing Commercial $ — $ — $ 276 $ 9 Commercial real estate: Other 51 — — — 1 – 4 Family residential: Owner occupied — — 22 — Non-owner occupied 3 — 133 — Consumer — 50 — — Total $ 54 $ 50 $ 431 $ 9 Non-accrual loans and loans past due 90 The following table presents the aging of the recorded investment in past due loans as of June 30, 2023 Days Past Due 30 – 59 60 - 89 90 Days or Total Loans Not Days Days Greater Past Due Past Due Total Commercial $ — $ — $ — $ — $ 112,826 $ 112,826 Commercial real estate: Construction — — — — 23,996 23,996 Other — — 51 51 318,654 318,705 1-4 Family residential: Owner occupied 17 124 — 141 158,296 158,437 Non-owner occupied — — 3 3 23,885 23,888 Construction — — — — 8,514 8,514 Consumer 438 120 50 608 64,986 65,594 Total $ 455 $ 244 $ 104 $ 803 $ 711,157 $ 711,960 The above table of past due loans includes the recorded investment in non-accrual loans of $54 in the 90 The following table presents the aging of the recorded investment in past due loans as of June 30, 2022 Days Past Due 30 – 59 60 - 89 90 Days or Total Loans Not Days Days Greater Past Due Past Due Total Commercial $ — $ — $ 9 $ 9 $ 87,242 $ 87,251 Commercial real estate: Construction — — — — 15,138 15,138 Other 52 — — 52 291,723 291,775 1-4 Family residential: Owner occupied 125 — — 125 143,381 143,506 Non-owner occupied — — 27 27 26,036 26,063 Construction — — — — 4,375 4,375 Consumer 381 79 — 460 44,489 44,949 Total $ 558 $ 79 $ 36 $ 673 $ 612,384 $ 613,057 The above table of past due loans includes the recorded investment in non-accrual loans of $27 in the 90 not Troubled Debt Restructurings (TDR): The Corporation has certain loans that have been modified in order to maximize collection of loan balances that are classified as TDRs. A modified loan is usually classified as a TDR if, for economic reasons, management grants a concession to the original terms and conditions of the loan to a borrower who is experiencing financial difficulties that it would not The Corporation had $351 and $318 of loans classified as TDRs as of June 30, 2023 2022, June 30, 2023 2022, There were no loans classified as troubled debt restructurings for which there was a payment default within 12 twelve June 30, 2023 2022. 90 Credit Quality Indicators: The Corporation categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Corporation analyzes loans individually by classifying the loans as to credit risk. This analysis includes loans with a total outstanding loan relationship greater than $100 and non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed monthly. The Corporation uses the following definitions for risk ratings: Special Mention. may Substandard. not Doubtful. Loans not not $100 As of June 30, 2023, Special Not Pass Mention Substandard Doubtful Rated Commercial $ 110,928 $ 1,174 $ 573 $ — $ 151 Commercial real estate: Construction 23,996 — — — — Other 310,427 7,097 468 51 662 1-4 Family residential real estate: Owner occupied 2,013 — 17 — 156,407 Non-owner occupied 23,474 50 105 3 256 Construction 3,227 — — — 5,287 Consumer 597 — — — 64,997 Total $ 474,662 $ 8,321 $ 1,163 $ 54 $ 227,760 As of June 30, 2022, Special Not Pass Mention Substandard Doubtful Rated Commercial $ 86,265 $ 350 $ 178 $ 276 $ 182 Commercial real estate: Construction 15,138 — — — — Other 283,877 2,500 4,711 — 687 1-4 Family residential real estate: Owner occupied 1,321 — — 22 142,163 Non-owner occupied 25,606 59 — 133 265 Construction 1,234 — — — 3,141 Consumer 605 — — — 44,344 Total $ 414,046 $ 2,909 $ 4,889 $ 431 $ 190,782 |
Note 5 - Premises and Equipment
Note 5 - Premises and Equipment | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5 PREMISES AND EQUIPMENT Major classifications of premises and equipment were as follows as of June 30: 2023 2022 Land $ 2,417 $ 1,685 Land improvements 414 318 Building and leasehold improvements 15,973 15,608 Furniture, fixture and equipment 7,600 7,206 Total premises and equipment 26,404 24,816 Accumulated depreciation and amortization (9,222 ) (8,296 ) Premises and equipment, net $ 17,182 $ 16,521 Depreciation expenses were $1,051 and $991 for the years ended June 30, 2023 2022, As of June 30, 2023, seven one May 31, 2035, two 12 one not 12 June 30, 2023 Rent expense for all the operating leases was $254 and $228 for the twelve June 30, 2023 2022, June 30, 2023. Total estimated rental commitments for the operating leases with a term over 12 June 30, 2023: Period Ending June 30 2024 $ 177 2025 145 2026 125 2027 115 2028 115 Thereafter 342 Total undiscounted cash flows $ 1,019 Less: present value discount $ (68 ) Total lease liabilities $ 951 |
Note 6 - Goodwill and Acquired
Note 6 - Goodwill and Acquired Intangible Assets | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | NOTE 6 GOODWILL AND ACQUIRED INTANGIBLE ASSETS The change in goodwill was as follows: 2023 2022 Beginning of year $ 2,452 $ 836 Acquired goodwill — 1,616 Ending balance as of June 30, $ 2,452 $ 2,452 The following table summarizes the Corporation’s acquired intangible assets as of June 30, 2023 2022. June 30, 2023 June 30, 2022 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Core deposit intangible $ 565 $ 151 $ 565 $ 95 Goodwill and the core deposit intangible assets resulted from the acquisition of Peoples Bancorp of Mt. Pleasant, Inc. that was completed on January 1, 2020, July 16, 2021. not April 30, 2023. The core deposit intangible asset is amortized on a straight-line basis over ten 2023 2022. four |
Note 7 - Deposits
Note 7 - Deposits | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | NOTE 7 DEPOSITS Interest-bearing deposits as of June 30, 2023 2022 2023 2022 Demand $ 152,053 $ 157,462 Savings and money market 335,231 369,054 Time: $250 and over 46,822 18,164 Other 167,521 84,217 Total $ 701,627 $ 628,897 Scheduled maturities of time deposits at June 30, 2023 Twelve Months Ending June 30 2024 $ 193,381 2025 16,089 2026 2,890 2027 1,373 2028 434 Thereafter 176 $ 214,343 |
Note 8 - Short-term Borrowings
Note 8 - Short-term Borrowings | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 8 SHORT-TERM BORROWINGS Short-term borrowings consisted of federal funds purchased, repurchase agreements, and a line of credit for the Corporation. Information concerning all short-term borrowings at June 30, 2023 2022, one 2023 2022 Balance at June 30 $ 26,367 $ 21,295 Average balance during the year 22,603 12,960 Maximum month-end balance 26,367 21,878 Average interest rate during the year 1.76 % 0.36 % Weighted average rate, June 30 2.20 % 0.61 % In fiscal year 2022, June 30, 2023 2022, June 30, 2023 2022 Overnight and Continuous 2023 2022 U.S. government-sponsored entities and agencies pledged $ 3,730 $ 3,331 Residential mortgage-backed securities pledged 19,648 11,954 Commercial mortgage-backed securities 3,641 6,682 Total pledged $ 27,019 $ 21,967 Repurchase agreements $ 23,783 $ 20,025 Total interest expense on short-term borrowings was $397 and $47 for the years ended June 30, 2023 2022, |
Note 9 - Federal Home Loan Bank
Note 9 - Federal Home Loan Bank Advances | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | NOTE 9 FEDERAL HOME LOAN BANK ADVANCES A summary of Federal Home Loan Bank (FHLB) advances were as follows: June 30, 2023 June 30, 2022 Stated Interest Rate Range Weighted Average Weighted Average Advance Type From To Amount Rate Amount Rate Fixed rate, amortizing 1.37 % 1.37 % $ 176 1.37 % $ 256 1.37 % Fixed rate 0.90 1.18 8,000 1.04 8,000 1.04 Variable rate 5.19 5.19 600 5.19 — — Each fixed rate advance has a prepayment penalty equal to the present value of 100% of the lost cash flow based upon the difference between the contract rate on the advance and the current rate on a comparable new advance. The following table is a summary of the scheduled principal payments for all advances as of June 30, 2023: Twelve Months Ending June 30 Principal Payments 2024 $ 671 2025 4,056 2026 46 2027 3 2028 — Thereafter 4,000 Total $ 8,776 Pursuant to collateral agreements with the FHLB, advances are secured by all the stock invested in the FHLB and certain qualifying first first June 30, 2023 2022, June 30, 2023. |
Note 10 - Employee Benefit Plan
Note 10 - Employee Benefit Plans | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | NOTE 10 EMPLOYEE BENEFIT PLANS The Bank maintains a 401 six 21 June 30, 2023 2022, The Bank maintains a nonqualified Salary Continuation Plan (SCP) to reward and encourage certain Bank executives to remain employees of the Bank. The SCP is considered an unfunded plan for tax and Employee Retirement Income Security Act (ERISA) purposes and all obligations arising under the SCP are payable from the general assets of the Corporation. The estimated present value of future benefits to be paid to certain current and former executives totaled $3,687 as of June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022. June 30, 2023 2022, June 30, 2023 June 30, 2022. The Amended and Restated 2010 2010 2010 2010 2010 Under the 2010 2010 The Corporation has granted restricted stock awards and restricted stock units to certain employees and directors. Restricted stock units and awards are issued at no three three not The following table summarizes the status of the restricted stock awards and restricted stock units: Restricted Stock Awards Weighted- Average Grant Date Fair Value Per Share Restricted Stock Units Weighted- Average Grant Date Fair Value Per Share Outstanding at June 30, 2022 17,069 $ 19.95 — $ — Granted 26,743 18.74 17,578 18.74 Vested (20,768 ) 18.93 (8,500 ) 18.74 Non-vested at June 30, 2023 23,044 $ 19.46 9,078 $ 18.74 There was $579 in expense recognized in fiscal year 2023 2022 June 30, 2023, |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 11 INCOME TAXES The provision for income taxes consisted of the following for the years ended June 30, 21.0%: 2023 2022 Current income taxes $ 2,344 $ 2,193 Deferred income tax expense (benefit) (96 ) 146 Total income tax expense $ 2,248 $ 2,339 The net deferred income tax asset (liability) consisted of the following components at June 30: 2023 2022 Deferred tax assets: Allowance for loan losses $ 1,622 $ 1,504 Deferred compensation 986 999 Deferred income 31 18 Non-accrual loan interest income 20 29 Net unrealized securities loss 7,964 5,876 Other 3 6 Gross deferred tax asset 10,626 8,432 Deferred tax liabilities: Depreciation (783 ) (821 ) Loan fees (640 ) (582 ) FHLB stock dividends (102 ) (102 ) Prepaid expenses (150 ) (150 ) Intangible assets (199 ) (209 ) Gross deferred tax liabilities (1,874 ) (1,864 ) Net deferred asset $ 8,752 $ 6,568 The difference between the provision for income taxes and amounts computed by applying the statutory income tax rate of 21.0% June 30: 2023 2022 Income taxes computed at the statutory rate on pretax income $ 2,714 $ 2,842 Tax exempt income (400 ) (431 ) Cash surrender value income (55 ) (54 ) Tax credit (17 ) (22 ) Other non-deductible expenses 6 4 Total income tax expense $ 2,248 $ 2,339 The effective tax rate was 17.4% for the year ended June 30, 2023 June 30, 2022. June 30, 2023 June 30, 2022, not twelve June 30, 2023 2022 June 30, 2023 2022. The Corporation and the Bank are subject to U.S. federal income tax as an income-based tax and a capital-based financial institutions tax in the State of Ohio. The Corporation and the Bank are no 2019. |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 12 RELATED PARTY TRANSACTIONS In the ordinary course of business, the Bank has granted loans to certain executive officers, directors, and their affiliates. A summary of activity during the year ended June 30, 2023 Principal balance, July 1 $ 2,546 New loans, net of refinancing 210 Repayments (99 ) Principal balance, June 30 $ 2,657 Deposits from executive officers, directors and their affiliates totaled $6,100 at June 30, 2023 June 30, 2022. |
Note 13 - Regulatory Matters
Note 13 - Regulatory Matters | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 13 REGULATORY MATTERS Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and prompt corrective-action regulations involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors and the regulators can lower classifications in certain cases. Failure to meet various capital requirements can initiate regulatory action that could have a direct material effect on the financial statements. The prompt corrective action regulations provide five not As of fiscal year-end 2023 2022, 1 not June 30, 2023, The following table presents actual and required capital ratios as of June 30, 2023 June 30, 2022 Actual Minimum Capital Required Basel III (1) Minimum Required To Be Considered Well Capitalized Amount Ratio Amount Ratio Amount Ratio June 30, 2023 Common equity Tier 1 to risk-weighted assets $ 83.5 11.05 % $ 34.0 4.50 % $ 49.1 6.50 % Tier 1 capital to risk weighted assets 83.5 11.05 45.4 6.00 60.5 8.00 Total capital to risk weighted assets 91.2 12.07 60.5 8.00 75.6 10.00 Tier 1 capital to average assets 83.5 7.72 43.3 4.00 54.1 5.00 Actual Minimum Capital Required - Basel III (1) Minimum Required To Be Considered Well Capitalized Amount Ratio Amount Ratio Amount Ratio June 30, 2022 Common equity Tier 1 to risk-weighted assets $ 74.1 11.39 % $ 29.3 4.50 % $ 42.3 6.50 % Tier 1 capital to risk weighted assets 74.1 11.39 39.0 6.00 52.1 8.00 Total capital to risk weighted assets 81.3 12.49 52.1 8.00 65.1 10.00 Tier 1 capital to average assets 74.1 7.39 40.1 4.00 50.1 5.00 ( 1 These amounts exclude the capital conservation buffer. As of the latest regulatory examination, the Bank was categorized as well capitalized. There are no may The Corporation’s principal source of funds for dividend payment is dividends received from the Bank. Banking regulations limit the amount of dividends that may may two June 30, 2023 |
Note 14 - Commitments With Off-
Note 14 - Commitments With Off-balance Sheet Risk | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Commitments with Off-Balance Sheet Risk Disclosure [Text Block] | NOTE 14 COMMITMENTS WITH OFF-BALANCE SHEET RISK The Bank is a party to commitments to extend credit in the normal course of business to meet the financing needs of its customers. Commitments are agreements to lend to customers providing that there are no The Bank evaluates each customer’s credit on a case-by-case basis. The amount of collateral obtained is based on management’s credit evaluation of the customer. The amount of commitments to extend credit and the exposure to credit loss for non-performance by the customer (before considering collateral) was $142,767 and $148,390 as of June 30, 2023 2022, June 30, 2023, July 2023 August 2060. June 30, 2022, July 2022 December 2053. June 30, 2023 2022, June 30, 2023 2022, not |
Note 15 - Fair Value
Note 15 - Fair Value | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 15 FAIR VALUE Fair value is the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three may Level 1: Level 2: 1 not Level 3: Financial assets and financial liabilities measured at fair value on a recurring basis include the following: Securities available-for-sale and equity securities: 1 not 2 not 3 Assets and liabilities measured at fair value on a recurring basis are summarized below, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Fair Value Measurements at June 30, 2023 Using Balance at June 30, 2023 Level 1 Level 2 Level 3 Assets: Obligations of U.S. treasury $ 8,408 $ 8,408 Obligations of U.S. government-sponsored entities and agencies 25,692 — 25,692 — Obligations of states and political subdivisions 83,972 — 83,972 — U.S. government-sponsored mortgage-backed securities - residential 89,635 — 89,635 — U.S. government-sponsored mortgage-backed securities - commercial 6,795 — 6,795 — U.S. government-sponsored collateralized mortgage obligations 50,070 — 50,070 — Other debt securities 15,033 — 15,033 — Equity securities 386 — 386 — Balance at June 30, 2022 Level 1 Level 2 Level 3 Assets: Obligations of U.S. treasury $ 8,447 — $ 8,447 — Obligations of U.S. government-sponsored entities and agencies 26,265 26,265 Obligations of states and political subdivisions 97,357 — 97,357 — U.S. government-sponsored mortgage-backed securities - residential 102,183 — 102,183 — U.S. government-sponsored mortgage-backed securities – commercial 7,301 — 7,301 — U.S. government-sponsored collateralized mortgage obligations 38,179 — 38,179 — Other debt securities 16,615 — 16,615 — Equity securities 400 — 400 — There were no 1 2 2023 2022 Certain assets and liabilities are measured at fair value on a non-recurring basis; that is, the instruments are not Impaired Loans: may 3 Other Real Estate and Repossessed Assets Owned: no June 30, 2023 June 30, 2022. June 30, 2023, There were no assets measured at fair value on a non-recurring basis at June 30, 2023 2022 twelve June 30, 2023 2022. The following table shows the estimated fair values of financial instruments that are reported at amortized cost in the Corporation’s consolidated balance sheets, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: 2023 2022 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Financial Assets: Level 1 inputs: Cash and cash equivalents $ 11,755 $ 11,755 $ 20,952 $ 20,952 Level 2 inputs: Certificates of deposit in other financial institutions 2,501 2,450 3,781 3,847 Loans held for sale 764 774 1,165 1,188 Accrued interest receivable 3,024 3,024 2,703 2,703 Level 3 inputs: Securities held-to-maturity 6,970 6,294 7,874 7,831 Loans, net 702,638 656,737 604,683 577,708 Financial Liabilities: Level 2 inputs: Demand and savings deposits 738,190 738,190 784,181 784,181 Time deposits 214,343 211,856 102,381 102,622 Short-term borrowings 26,367 26,367 21,295 21,295 Federal Home Loan Bank advances 8,776 7,678 8,256 7,215 Accrued interest payable 344 344 49 49 The assumptions used to estimate fair value are described as follows: Cash and cash equivalents: 1 Certificates of deposits in other financial institutions: 2 Accrued interest receivable and payable, demand and savings deposits and short-term borrowings 2 Loans held for sale: third 2 Loans: no 3 not Securities held-to-maturity: 3 Time deposits: June 30, 2023 2022 2 not Federal Home Loan Bank advances: June 30, 2023 2022 2 Federal bank and other restricted stocks, at cost: not Off-balance sheet commitments: not not |
Note 16 - Affordable Tax Credit
Note 16 - Affordable Tax Credit Partnership | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Investments in Affordable Housing Tax Credits Projects [Text Block] | NOTE 16 AFFORDABLE TAX CREDIT PARTNERSHIP In April 2023, 42 not The Corporation uses the proportional amortization method to account for its investment. The investment is included in other assets and the unfunded commitment is included in other liabilities. As of June 30, 2023, no |
Note 17 - Parent Company Financ
Note 17 - Parent Company Financial Statements | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 17 PARENT COMPANY FINANCIAL STATEMENTS The condensed financial information of Consumers Bancorp. Inc. (parent company only) follows: Condensed Balance Sheets June 30, 2023 June 30, 2022 Assets: Cash $ 26 $ 76 Equity securities, at fair value 386 400 Other assets 22 17 Investment in subsidiary 56,328 54,823 Total assets $ 56,762 $ 55,316 Liabilities and Shareholders’ Equity: Short-term borrowings $ 1,200 $ 1,270 Other liabilities 78 76 Shareholders’ equity 55,484 53,970 Total liabilities & shareholders’ equity $ 56,762 $ 55,316 Condensed Statements of Income and Comprehensive Income Year Ended June 30, 2023 Year Ended June 30, 2022 Cash dividends from Bank subsidiary $ 1,575 $ 195 Dividend income 33 33 Net change in market value of equity securities (14 ) (24 ) Other income 14 2 Interest expense (75 ) (31 ) Other expense (295 ) (258 ) Income (loss) before income taxes and equity in undistributed net income of subsidiary 1,238 (83 ) Income tax benefit (76 ) (63 ) Income (loss) before equity in undistributed net income of Bank subsidiary 1,314 (20 ) Equity in undistributed net income of subsidiary 9,360 11,212 Net income $ 10,674 $ 11,192 Comprehensive income (loss) $ 2,819 $ (14,464 ) Condensed Statements of Cash Flows Year Ended June 30, 2023 Year Ended June 30, 2022 Cash flows from operating activities: Net income $ 10,674 $ 11,192 Equity in undistributed net income of Bank subsidiary (9,360 ) (11,212 ) Net change in market value of equity securities 14 24 Change in other assets and liabilities (3 ) 24 Net cash flows from operating activities 1,325 28 Cash flows from investing activities: Disposal of premises and equipment — 18 Net cash flows from investing activities — 18 Cash flows from financing activities: Dividend paid (2,095 ) (1,949 ) Restricted stock units 159 — Net change in short-term borrowings (70 ) 1,270 Proceeds from dividend reinvestment and stock purchase plan 238 174 Issuance of treasury stock for stock awards 393 309 Net cash flows from financing activities (1,375 ) (196 ) Change in cash and cash equivalents (50 ) (150 ) Beginning cash and cash equivalents 76 226 Ending cash and cash equivalents $ 26 $ 76 |
Note 18 - Earnings Per Share
Note 18 - Earnings Per Share | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 18 EARNINGS PER SHARE Basic earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period and is equal to net income divided by the weighted average number of shares outstanding during the period. Diluted earnings per share is the amount of earnings available to each share of common stock outstanding during the reporting period adjusted to include the effect of potentially dilutive common shares that may June 30, 2023. June 30, 2022. For the year Ended June 30, 2023 2022 Basic: Net income available to common shareholders $ 10,674 $ 11,192 Weighted average common shares outstanding 3,090,187 3,039,607 Basic income per share $ 3.45 $ 3.68 Diluted: Net income available to common shareholders $ 10,674 $ 11,192 Weighted average common shares outstanding 3,090,187 3,039,607 Dilutive effect of restricted stock — 246 Total common shares and dilutive potential common shares 3,090,187 3,039,853 Dilutive income per share $ 3.45 $ 3.68 |
Note 19 - Accumulated Other Com
Note 19 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | NOTE 19 ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The components of other comprehensive income related to unrealized gains (losses) on available-for-sale securities for the periods ended June 30, 2023 June 30, 2022, Pretax Tax Effect After-tax Affected Line Item in Consolidated Statements of Income Balance as of June 30, 2021 $ 4,493 $ (943 ) $ 3,550 Unrealized holding loss on available-for-sale securities arising during the period (32,469 ) 6,818 (25,651 ) Amounts reclassified from accumulated other comprehensive income (6 ) 1 (5 ) (a)(b) Net current period other comprehensive loss (32,475 ) 6,819 (25,656 ) Balance as of June 30, 2022 $ (27,982 ) $ 5,876 $ (22,106 ) Unrealized holding loss on available-for-sale securities arising during the period $ (9,929 ) $ 2,085 $ (7,844 ) Amounts reclassified from accumulated other comprehensive income (14 ) 3 (11 ) (a)(b) Net current period other comprehensive loss (9,943 ) 2,088 (7,855 ) Balance as of June 30, 2023 $ (37,925 ) $ 7,964 $ (29,961 ) (a) Securities gain, net (b) Income tax expense |
Note 20 - Revenue Recognition
Note 20 - Revenue Recognition | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 20 REVENUE RECOGNITION The Corporation accounts for revenues from contracts with customers under ASC 606, not 606. 606, no Service charges on deposit accounts: Interchange income: Other income The following table presents the Corporation's sources of noninterest income for the years ended June 30, 2023 2022. For the year Ended June 30, 2023 2022 Noninterest income In scope of Topic 606: Service charges on deposit accounts $ 1,598 $ 1,460 Debit card interchange income 2,181 2,069 Other income 360 335 Noninterest income (in scope of Topic 606) 4,139 3,864 Noninterest income (out-of-scope of Topic 606) 608 871 Total noninterest income $ 4,747 $ 4,735 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation: |
Nature of Operations [Policy Text Block] | Nature of Operations: |
Segment Reporting, Policy [Policy Text Block] | Business Segment Information: |
Business Combinations Policy [Policy Text Block] | Acquisition: |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates: |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents: 90 |
Interest Bearing Deposits in Other Financial Institutions [Policy Text Block] | Interest Bearing Deposits in Other Financial Institutions: one |
Certificate of Deposits in Financial Institutions [Policy Text Block] | Certificates of Deposit in Financial Institutions: |
Cash Reserves [Policy Text Block] | Cash Reserves: June 30, 2023 2022. |
Marketable Securities, Policy [Policy Text Block] | Securities: may Interest income includes amortization of purchase premiums and accretion of discounts. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities and collateralized mortgage obligations where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Management evaluates securities for other-than-temporary impairment (OTTI) on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. The evaluation of securities includes consideration given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, whether the market decline was affected by macroeconomic conditions and whether the Corporation has the intent to sell the security or it is more likely than not may When OTTI occurs, the amount of the OTTI recognized in earnings depends on whether the Corporation intends to sell the security, or it is more likely than not not not |
Equity Securities [Policy Text Block] | Equity Securities: |
Federal Home Loan Bank FHLB Stock [Policy Text Block] | Federal Bank and Other Restricted Stocks: may |
Financing Receivable, Held-for-Sale [Policy Text Block] | Loans Held for Sale: |
Derivatives, Policy [Policy Text Block] | Mortgage Banking Derivatives: |
Policy Loans Receivable, Policy [Policy Text Block] | Loans: Interest income on commercial, commercial real estate and 1 4 90 no 120 All interest accrued but not six |
Loan Commitments, Policy [Policy Text Block] | Loan Commitments and Related Financial Instruments: |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk: |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses: may The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-classified loans and is based on historical loss experience adjusted for current factors. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect all amounts due according to the contractual terms of the loan agreement. Loans, for which the terms have been modified, resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings, and classified as impaired. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not Impairment is evaluated collectively for smaller-balance loans of similar nature such as residential mortgage, consumer loans and on an individual loan basis for other loans. If a loan is impaired, a portion of the allowance is allocated so the loan is reported, net, at the present value of estimated future cash flows using the loan’s existing rate or at the fair value of collateral if repayment is expected from the collateral. Loans are evaluated for impairment when payments are delayed, typically 90 not The general component covers non-impaired loans and is based on historical loss experience adjusted for current factors based on the risks present for each portfolio segment. The historical loss experience is determined by portfolio segment and is based on the actual loss history experienced by the Corporation over the most recent three Commercial: may not may may may Commercial Real Estate: may 1 4 one four no 85% Consumer |
Investments in Affordable Housing Tax Credits Projects [Policy Text Block] | Low Income Housing Tax Credits (LIHTC) |
Financing Receivable, Held-for-Investment, Foreclosed Asset [Policy Text Block] | Other Real Estate and Repossessed Assets Owned: |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets: not |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment: three thirty-nine one |
Cash Surrender Value of Life Insurance [Policy Text Block] | Cash Surrender Value of Life Insurance: June 30, 2023, June 30, 2022, |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Other Intangible Assets: not April 30 |
Long-term Assets [Policy Text Block] | Long-Term Assets: may not |
Repurchase and Resale Agreements Policy [Policy Text Block] | Repurchase Agreements: not |
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Retirement Plans: 401 |
Income Tax, Policy [Policy Text Block] | Income Taxes: not not 50% |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Common Share: |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation: |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income: |
Malpractice Loss Contingency, Policy [Policy Text Block] | Loss Contingencies: not |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments: 15 |
Dividend Restrictions [Policy Text Block] | Dividend Restrictions: may |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications: June 30, 2022 June 30, 2023 no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements Not June 2016, 2016 13, 326 326 2016 13 2016 13 December 15, 2019. December 15, 2018, July 2019, January 2023 October 16, 2019, December 15, 2022 The Corporation adopted this new guidance on July 1, 2023. No. 2016 13 not one In March 2022, 2022 02, 326 326 326 2016 13 December 15, 2022. not |
Note 2 - Acquisition (Tables)
Note 2 - Acquisition (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Assets acquired: Cash and cash equivalents $ 515 Securities, available-for-sale 15,602 Loans 19,943 Premises and equipment 413 Core deposit intangible 295 Accrued interest receivable 216 Total assets acquired 36,984 Liabilities assumed: Noninterest-bearing deposits 10,535 Interest-bearing deposits 94,003 Other liabilities 99 Total liabilities assumed 104,637 Fair value of net liabilities assumed (67,653 ) Cash received 66,037 Goodwill $ 1,616 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Available-for-sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2023 Obligation of U.S Treasury $ 8,941 $ — $ (533 ) $ 8,408 Obligations of U.S. government-sponsored entities and agencies 29,430 7 (3,745 ) 25,692 Obligations of state and political subdivisions 92,891 63 (8,982 ) 83,972 U.S. Government-sponsored mortgage-backed securities - residential 104,689 12 (15,066 ) 89,635 U.S. Government-sponsored mortgage-backed securities - commercial 8,604 — (1,809 ) 6,795 U.S. Government-sponsored collateralized mortgage obligations – residential 55,800 8 (5,738 ) 50,070 Other debt securities 17,175 — (2,142 ) 15,033 Total available-for-sale securities $ 317,530 $ 90 $ (38,015 ) $ 279,605 Held-to-maturity Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value June 30, 2023 Obligations of state and political subdivisions $ 6,970 $ — $ (676 ) $ 6,294 Available-for-sale Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value June 30, 2022 Obligation of U.S Treasury $ 8,909 $ — $ (462 ) $ 8,447 Obligations of U.S. government-sponsored entities and agencies 28,689 — (2,424 ) 26,265 Obligations of state and political subdivisions 105,977 129 (8,749 ) 97,357 U.S. Government-sponsored mortgage-backed securities - residential 113,812 13 (11,642 ) 102,183 U.S. Government-sponsored mortgage-backed securities - commercial 8,623 — (1,322 ) 7,301 U.S. Government-sponsored collateralized mortgage obligations – residential 40,952 1 (2,774 ) 38,179 Other debt securities 17,367 — (752 ) 16,615 Total available-for-sale securities $ 324,329 $ 143 $ (28,125 ) $ 296,347 Held-to-maturity Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value June 30, 2022 Obligations of state and political subdivisions $ 7,874 $ 47 $ (90 ) $ 7,831 |
Schedule of Realized Gain (Loss) [Table Text Block] | 2023 2022 Proceeds from sales $ 16,472 $ 2,722 Gross realized gains 87 8 Gross realized losses (73 ) (2 ) |
Investments Classified by Contractual Maturity Date [Table Text Block] | Available-for-sale Amortized Cost Fair Value Due in one year or less $ 4,997 $ 4,899 Due after one year through five years 29,105 27,640 Due after five years through ten years 51,133 44,817 Due after ten years 63,202 55,749 Total 148,437 133,105 U.S. Government-sponsored mortgage-backed and related securities 169,093 146,500 Total $ 317,530 $ 279,605 Held-to-maturity Amortized Cost Fair Value Due after one year through five years $ 3,092 $ 2,988 Due after five years through ten years 533 488 Due after ten years 3,345 2,818 Total $ 6,970 $ 6,294 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or more Total June 30, 2023 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Available-for-sale Obligations of U.S Treasury $ — $ — $ 8,408 $ (533 ) $ 8,408 $ (533 ) Obligations of U.S. government-sponsored entities and agencies 1,008 (10 ) 23,551 (3,735 ) 24,559 (3,745 ) Obligations of state and political subdivisions 16,009 (344 ) 62,492 (8,638 ) 78,501 (8,982 ) Mortgage-backed securities – residential 3,334 (84 ) 85,096 (14,982 ) 88,430 (15,066 ) Mortgage-backed securities – commercial — — 6,795 (1,809 ) 6,795 (1,809 ) Collateralized mortgage obligations - residential 22,039 (638 ) 27,023 (5,100 ) 49,062 (5,738 ) Other debt securities — — 15,033 (2,142 ) 15,033 (2,142 ) Total temporarily impaired $ 42,390 $ (1,076 ) $ 228,398 $ (36,939 ) $ 270,788 $ (38,015 ) Less than 12 Months 12 Months or more Total June 30, 2023 Fair Value Unrecognized Loss Fair Value Unrecognized Loss Fair Value Unrecognized Loss Held-to-maturity Obligations of state and political subdivisions $ — $ — $ 6,294 $ (676 ) $ 6,294 $ (676 ) Less than 12 Months 12 Months or more Total June 30, 2022 Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss Available-for-sale Obligations of U.S Treasury $ 8,447 $ (462 ) $ — $ — $ 8,447 $ (462 ) Obligations of U.S. government-sponsored entities and agencies 26,265 (2,424 ) — — 26,265 (2,424 ) Obligations of state and political subdivisions 80,445 (8,331 ) 2,047 (418 ) 82,492 (8,749 ) Mortgage-backed securities – residential 76,526 (7,586 ) 24,569 (4,056 ) 101,095 (11,642 ) Mortgage-backed securities – commercial 7,301 (1,322 ) — — 7,301 (1,322 ) Collateralized mortgage obligations – residential 30,729 (2,308 ) 2,713 (466 ) 33,442 (2,774 ) Other debt securities 16,156 (711 ) 459 (41 ) 16,615 (752 ) Total temporarily impaired $ 245,869 $ (23,144 ) $ 29,788 $ (4,981 ) $ 275,657 $ (28,125 ) Less than 12 Months 12 Months or more Total June 30, 2022 Fair Value Unrecognized Loss Fair Value Unrecognized Loss Fair Value Unrecognized Loss Held-to-maturity Obligations of state and political subdivisions $ 3,522 $ (90 ) $ — $ — $ 3,522 $ (90 ) |
Unrealized Gain (Loss) on Investments [Table Text Block] | 2023 2022 Unrealized loss recognized on equity securities held at the end of the period $ (14 ) $ (24 ) |
Note 4 - Loans (Tables)
Note 4 - Loans (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2023 2022 Commercial $ 112,558 $ 87,008 Commercial real estate: Construction 23,981 15,158 Other 318,636 291,847 1 – 4 Family residential real estate: Owner occupied 156,989 142,244 Non-owner occupied 23,880 26,029 Construction 8,443 4,317 Consumer 65,617 44,964 Subtotal 710,104 611,567 Net deferred loan fees and costs 258 276 Allowance for loan losses (7,724 ) (7,160 ) Net loans $ 702,638 $ 604,683 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Beginning balance $ 960 $ 3,927 $ 1,645 $ 628 $ 7,160 Provision for loan losses 348 15 (72 ) 564 855 Loans charged-off — — (6 ) (441 ) (447 ) Recoveries — 1 4 151 156 Total ending allowance balance $ 1,308 $ 3,943 $ 1,571 $ 902 $ 7,724 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Beginning balance $ 904 $ 3,949 $ 1,307 $ 311 $ 6,471 Provision for loan losses 33 (24 ) 359 367 735 Loans charged-off — — (41 ) (132 ) (173 ) Recoveries 23 2 20 82 127 Total ending allowance balance $ 960 $ 3,927 $ 1,645 $ 628 $ 7,160 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ — $ — Acquired loans collectively evaluated for impairment — 40 74 — 114 Originated loans collectively evaluated for impairment 1,308 3,903 1,497 902 7,610 Total ending allowance balance $ 1,308 $ 3,943 $ 1,571 $ 902 $ 7,724 Recorded investment in loans: Loans individually evaluated for impairment $ 314 $ 88 $ 3 $ — $ 405 Acquired loans collectively evaluated for impairment 622 6,953 23,038 1,230 31,843 Originated loans collectively evaluated for impairment 111,890 335,660 167,798 64,364 679,712 Total ending loans balance $ 112,826 $ 342,701 $ 190,839 $ 65,594 $ 711,960 1-4 Family Commercial Residential Real Real Commercial Estate Estate Consumer Total Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — $ — $ — $ — $ — Acquired loans collectively evaluated for impairment 1 62 85 — 148 Originated loans collectively evaluated for impairment 959 3,865 1,560 628 7,012 Total ending allowance balance $ 960 $ 3,927 $ 1,645 $ 628 $ 7,160 Recorded investment in loans: Loans individually evaluated for impairment $ 276 $ 42 $ 155 $ — $ 473 Acquired loans collectively evaluated for impairment 665 10,095 27,731 3,051 41,542 Originated loans collectively evaluated for impairment 86,310 296,776 146,058 41,898 571,042 Total ending loans balance $ 87,251 $ 306,913 $ 173,944 $ 44,949 $ 613,057 |
Impaired Financing Receivables [Table Text Block] | Unpaid Allowance for Average Interest Cash Basis Principal Recorded Loan Losses Recorded Income Interest Balance Investment Allocated Investment Recognized Recognized With no related allowance recorded: Commercial $ 404 $ 314 $ — $ 306 $ 37 $ 37 Commercial real estate: Other 127 88 — 52 6 6 1-4 Family residential real estate: Owner occupied 24 — — 38 2 2 Non-owner occupied 3 3 — 29 — — Total $ 558 $ 405 $ — $ 425 $ 45 $ 45 Unpaid Allowance for Average Interest Cash Basis Principal Recorded Loan Losses Recorded Income Interest Balance Investment Allocated Investment Recognized Recognized With no related allowance recorded: Commercial $ 414 $ 276 $ — $ 291 $ — $ — Commercial real estate: Other 83 42 — 518 193 193 1-4 Family residential real estate: Owner occupied 48 22 — 187 8 8 Non-owner occupied 193 133 — 93 75 75 With an allowance recorded: Commercial — — — 113 6 6 Total $ 738 $ 473 $ — $ 1,202 $ 282 $ 282 |
Financing Receivable, Past Due [Table Text Block] | June 30, 2023 June 30, 2022 Loans Past Due Loans Past Due Over 90 Days Over 90 Days Still Still Non-accrual Accruing Non-accrual Accruing Commercial $ — $ — $ 276 $ 9 Commercial real estate: Other 51 — — — 1 – 4 Family residential: Owner occupied — — 22 — Non-owner occupied 3 — 133 — Consumer — 50 — — Total $ 54 $ 50 $ 431 $ 9 Days Past Due 30 – 59 60 - 89 90 Days or Total Loans Not Days Days Greater Past Due Past Due Total Commercial $ — $ — $ — $ — $ 112,826 $ 112,826 Commercial real estate: Construction — — — — 23,996 23,996 Other — — 51 51 318,654 318,705 1-4 Family residential: Owner occupied 17 124 — 141 158,296 158,437 Non-owner occupied — — 3 3 23,885 23,888 Construction — — — — 8,514 8,514 Consumer 438 120 50 608 64,986 65,594 Total $ 455 $ 244 $ 104 $ 803 $ 711,157 $ 711,960 Days Past Due 30 – 59 60 - 89 90 Days or Total Loans Not Days Days Greater Past Due Past Due Total Commercial $ — $ — $ 9 $ 9 $ 87,242 $ 87,251 Commercial real estate: Construction — — — — 15,138 15,138 Other 52 — — 52 291,723 291,775 1-4 Family residential: Owner occupied 125 — — 125 143,381 143,506 Non-owner occupied — — 27 27 26,036 26,063 Construction — — — — 4,375 4,375 Consumer 381 79 — 460 44,489 44,949 Total $ 558 $ 79 $ 36 $ 673 $ 612,384 $ 613,057 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Special Not Pass Mention Substandard Doubtful Rated Commercial $ 110,928 $ 1,174 $ 573 $ — $ 151 Commercial real estate: Construction 23,996 — — — — Other 310,427 7,097 468 51 662 1-4 Family residential real estate: Owner occupied 2,013 — 17 — 156,407 Non-owner occupied 23,474 50 105 3 256 Construction 3,227 — — — 5,287 Consumer 597 — — — 64,997 Total $ 474,662 $ 8,321 $ 1,163 $ 54 $ 227,760 Special Not Pass Mention Substandard Doubtful Rated Commercial $ 86,265 $ 350 $ 178 $ 276 $ 182 Commercial real estate: Construction 15,138 — — — — Other 283,877 2,500 4,711 — 687 1-4 Family residential real estate: Owner occupied 1,321 — — 22 142,163 Non-owner occupied 25,606 59 — 133 265 Construction 1,234 — — — 3,141 Consumer 605 — — — 44,344 Total $ 414,046 $ 2,909 $ 4,889 $ 431 $ 190,782 |
Note 5 - Premises and Equipme_2
Note 5 - Premises and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2023 2022 Land $ 2,417 $ 1,685 Land improvements 414 318 Building and leasehold improvements 15,973 15,608 Furniture, fixture and equipment 7,600 7,206 Total premises and equipment 26,404 24,816 Accumulated depreciation and amortization (9,222 ) (8,296 ) Premises and equipment, net $ 17,182 $ 16,521 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Period Ending June 30 2024 $ 177 2025 145 2026 125 2027 115 2028 115 Thereafter 342 Total undiscounted cash flows $ 1,019 Less: present value discount $ (68 ) Total lease liabilities $ 951 |
Note 6 - Goodwill and Acquire_2
Note 6 - Goodwill and Acquired Intangible Assets (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | 2023 2022 Beginning of year $ 2,452 $ 836 Acquired goodwill — 1,616 Ending balance as of June 30, $ 2,452 $ 2,452 |
Schedule of Intangible Assets and Goodwill [Table Text Block] | June 30, 2023 June 30, 2022 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Core deposit intangible $ 565 $ 151 $ 565 $ 95 |
Note 7 - Deposits (Tables)
Note 7 - Deposits (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | 2023 2022 Demand $ 152,053 $ 157,462 Savings and money market 335,231 369,054 Time: $250 and over 46,822 18,164 Other 167,521 84,217 Total $ 701,627 $ 628,897 |
Schedule of Time Deposit Maturities [Table Text Block] | Twelve Months Ending June 30 2024 $ 193,381 2025 16,089 2026 2,890 2027 1,373 2028 434 Thereafter 176 $ 214,343 |
Note 8 - Short-term Borrowings
Note 8 - Short-term Borrowings (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Short-Term Debt [Table Text Block] | 2023 2022 Balance at June 30 $ 26,367 $ 21,295 Average balance during the year 22,603 12,960 Maximum month-end balance 26,367 21,878 Average interest rate during the year 1.76 % 0.36 % Weighted average rate, June 30 2.20 % 0.61 % |
Schedule of Repurchase Agreements [Table Text Block] | Overnight and Continuous 2023 2022 U.S. government-sponsored entities and agencies pledged $ 3,730 $ 3,331 Residential mortgage-backed securities pledged 19,648 11,954 Commercial mortgage-backed securities 3,641 6,682 Total pledged $ 27,019 $ 21,967 Repurchase agreements $ 23,783 $ 20,025 |
Note 9 - Federal Home Loan Ba_2
Note 9 - Federal Home Loan Bank Advances (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Federal Home Loan Bank, Advances, by Branch of FHLB Bank [Table Text Block] | June 30, 2023 June 30, 2022 Stated Interest Rate Range Weighted Average Weighted Average Advance Type From To Amount Rate Amount Rate Fixed rate, amortizing 1.37 % 1.37 % $ 176 1.37 % $ 256 1.37 % Fixed rate 0.90 1.18 8,000 1.04 8,000 1.04 Variable rate 5.19 5.19 600 5.19 — — |
Schedule of Principal Payments [Table Text Block] | Twelve Months Ending June 30 Principal Payments 2024 $ 671 2025 4,056 2026 46 2027 3 2028 — Thereafter 4,000 Total $ 8,776 |
Note 10 - Employee Benefit Pl_2
Note 10 - Employee Benefit Plans (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Restricted Stock Awards Weighted- Average Grant Date Fair Value Per Share Restricted Stock Units Weighted- Average Grant Date Fair Value Per Share Outstanding at June 30, 2022 17,069 $ 19.95 — $ — Granted 26,743 18.74 17,578 18.74 Vested (20,768 ) 18.93 (8,500 ) 18.74 Non-vested at June 30, 2023 23,044 $ 19.46 9,078 $ 18.74 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2023 2022 Current income taxes $ 2,344 $ 2,193 Deferred income tax expense (benefit) (96 ) 146 Total income tax expense $ 2,248 $ 2,339 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2023 2022 Deferred tax assets: Allowance for loan losses $ 1,622 $ 1,504 Deferred compensation 986 999 Deferred income 31 18 Non-accrual loan interest income 20 29 Net unrealized securities loss 7,964 5,876 Other 3 6 Gross deferred tax asset 10,626 8,432 Deferred tax liabilities: Depreciation (783 ) (821 ) Loan fees (640 ) (582 ) FHLB stock dividends (102 ) (102 ) Prepaid expenses (150 ) (150 ) Intangible assets (199 ) (209 ) Gross deferred tax liabilities (1,874 ) (1,864 ) Net deferred asset $ 8,752 $ 6,568 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2023 2022 Income taxes computed at the statutory rate on pretax income $ 2,714 $ 2,842 Tax exempt income (400 ) (431 ) Cash surrender value income (55 ) (54 ) Tax credit (17 ) (22 ) Other non-deductible expenses 6 4 Total income tax expense $ 2,248 $ 2,339 |
Note 12 - Related Party Trans_2
Note 12 - Related Party Transactions (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Principal balance, July 1 $ 2,546 New loans, net of refinancing 210 Repayments (99 ) Principal balance, June 30 $ 2,657 |
Note 13 - Regulatory Matters (T
Note 13 - Regulatory Matters (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum Capital Required Basel III (1) Minimum Required To Be Considered Well Capitalized Amount Ratio Amount Ratio Amount Ratio June 30, 2023 Common equity Tier 1 to risk-weighted assets $ 83.5 11.05 % $ 34.0 4.50 % $ 49.1 6.50 % Tier 1 capital to risk weighted assets 83.5 11.05 45.4 6.00 60.5 8.00 Total capital to risk weighted assets 91.2 12.07 60.5 8.00 75.6 10.00 Tier 1 capital to average assets 83.5 7.72 43.3 4.00 54.1 5.00 Actual Minimum Capital Required - Basel III (1) Minimum Required To Be Considered Well Capitalized Amount Ratio Amount Ratio Amount Ratio June 30, 2022 Common equity Tier 1 to risk-weighted assets $ 74.1 11.39 % $ 29.3 4.50 % $ 42.3 6.50 % Tier 1 capital to risk weighted assets 74.1 11.39 39.0 6.00 52.1 8.00 Total capital to risk weighted assets 81.3 12.49 52.1 8.00 65.1 10.00 Tier 1 capital to average assets 74.1 7.39 40.1 4.00 50.1 5.00 |
Note 15 - Fair Value (Tables)
Note 15 - Fair Value (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at June 30, 2023 Using Balance at June 30, 2023 Level 1 Level 2 Level 3 Assets: Obligations of U.S. treasury $ 8,408 $ 8,408 Obligations of U.S. government-sponsored entities and agencies 25,692 — 25,692 — Obligations of states and political subdivisions 83,972 — 83,972 — U.S. government-sponsored mortgage-backed securities - residential 89,635 — 89,635 — U.S. government-sponsored mortgage-backed securities - commercial 6,795 — 6,795 — U.S. government-sponsored collateralized mortgage obligations 50,070 — 50,070 — Other debt securities 15,033 — 15,033 — Equity securities 386 — 386 — Balance at June 30, 2022 Level 1 Level 2 Level 3 Assets: Obligations of U.S. treasury $ 8,447 — $ 8,447 — Obligations of U.S. government-sponsored entities and agencies 26,265 26,265 Obligations of states and political subdivisions 97,357 — 97,357 — U.S. government-sponsored mortgage-backed securities - residential 102,183 — 102,183 — U.S. government-sponsored mortgage-backed securities – commercial 7,301 — 7,301 — U.S. government-sponsored collateralized mortgage obligations 38,179 — 38,179 — Other debt securities 16,615 — 16,615 — Equity securities 400 — 400 — |
Fair Value, by Balance Sheet Grouping [Table Text Block] | 2023 2022 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Financial Assets: Level 1 inputs: Cash and cash equivalents $ 11,755 $ 11,755 $ 20,952 $ 20,952 Level 2 inputs: Certificates of deposit in other financial institutions 2,501 2,450 3,781 3,847 Loans held for sale 764 774 1,165 1,188 Accrued interest receivable 3,024 3,024 2,703 2,703 Level 3 inputs: Securities held-to-maturity 6,970 6,294 7,874 7,831 Loans, net 702,638 656,737 604,683 577,708 Financial Liabilities: Level 2 inputs: Demand and savings deposits 738,190 738,190 784,181 784,181 Time deposits 214,343 211,856 102,381 102,622 Short-term borrowings 26,367 26,367 21,295 21,295 Federal Home Loan Bank advances 8,776 7,678 8,256 7,215 Accrued interest payable 344 344 49 49 |
Note 17 - Parent Company Fina_2
Note 17 - Parent Company Financial Statements (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | Condensed Balance Sheets June 30, 2023 June 30, 2022 Assets: Cash $ 26 $ 76 Equity securities, at fair value 386 400 Other assets 22 17 Investment in subsidiary 56,328 54,823 Total assets $ 56,762 $ 55,316 Liabilities and Shareholders’ Equity: Short-term borrowings $ 1,200 $ 1,270 Other liabilities 78 76 Shareholders’ equity 55,484 53,970 Total liabilities & shareholders’ equity $ 56,762 $ 55,316 |
Condensed Income Statement [Table Text Block] | Condensed Statements of Income and Comprehensive Income Year Ended June 30, 2023 Year Ended June 30, 2022 Cash dividends from Bank subsidiary $ 1,575 $ 195 Dividend income 33 33 Net change in market value of equity securities (14 ) (24 ) Other income 14 2 Interest expense (75 ) (31 ) Other expense (295 ) (258 ) Income (loss) before income taxes and equity in undistributed net income of subsidiary 1,238 (83 ) Income tax benefit (76 ) (63 ) Income (loss) before equity in undistributed net income of Bank subsidiary 1,314 (20 ) Equity in undistributed net income of subsidiary 9,360 11,212 Net income $ 10,674 $ 11,192 Comprehensive income (loss) $ 2,819 $ (14,464 ) |
Condensed Cash Flow Statement [Table Text Block] | Condensed Statements of Cash Flows Year Ended June 30, 2023 Year Ended June 30, 2022 Cash flows from operating activities: Net income $ 10,674 $ 11,192 Equity in undistributed net income of Bank subsidiary (9,360 ) (11,212 ) Net change in market value of equity securities 14 24 Change in other assets and liabilities (3 ) 24 Net cash flows from operating activities 1,325 28 Cash flows from investing activities: Disposal of premises and equipment — 18 Net cash flows from investing activities — 18 Cash flows from financing activities: Dividend paid (2,095 ) (1,949 ) Restricted stock units 159 — Net change in short-term borrowings (70 ) 1,270 Proceeds from dividend reinvestment and stock purchase plan 238 174 Issuance of treasury stock for stock awards 393 309 Net cash flows from financing activities (1,375 ) (196 ) Change in cash and cash equivalents (50 ) (150 ) Beginning cash and cash equivalents 76 226 Ending cash and cash equivalents $ 26 $ 76 |
Note 18 - Earnings Per Share (T
Note 18 - Earnings Per Share (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the year Ended June 30, 2023 2022 Basic: Net income available to common shareholders $ 10,674 $ 11,192 Weighted average common shares outstanding 3,090,187 3,039,607 Basic income per share $ 3.45 $ 3.68 Diluted: Net income available to common shareholders $ 10,674 $ 11,192 Weighted average common shares outstanding 3,090,187 3,039,607 Dilutive effect of restricted stock — 246 Total common shares and dilutive potential common shares 3,090,187 3,039,853 Dilutive income per share $ 3.45 $ 3.68 |
Note 19 - Accumulated Other C_2
Note 19 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Pretax Tax Effect After-tax Affected Line Item in Consolidated Statements of Income Balance as of June 30, 2021 $ 4,493 $ (943 ) $ 3,550 Unrealized holding loss on available-for-sale securities arising during the period (32,469 ) 6,818 (25,651 ) Amounts reclassified from accumulated other comprehensive income (6 ) 1 (5 ) (a)(b) Net current period other comprehensive loss (32,475 ) 6,819 (25,656 ) Balance as of June 30, 2022 $ (27,982 ) $ 5,876 $ (22,106 ) Unrealized holding loss on available-for-sale securities arising during the period $ (9,929 ) $ 2,085 $ (7,844 ) Amounts reclassified from accumulated other comprehensive income (14 ) 3 (11 ) (a)(b) Net current period other comprehensive loss (9,943 ) 2,088 (7,855 ) Balance as of June 30, 2023 $ (37,925 ) $ 7,964 $ (29,961 ) |
Note 20 - Revenue Recognition (
Note 20 - Revenue Recognition (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | For the year Ended June 30, 2023 2022 Noninterest income In scope of Topic 606: Service charges on deposit accounts $ 1,598 $ 1,460 Debit card interchange income 2,181 2,069 Other income 360 335 Noninterest income (in scope of Topic 606) 4,139 3,864 Noninterest income (out-of-scope of Topic 606) 608 871 Total noninterest income $ 4,747 $ 4,735 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | |||
Jun. 30, 2023 USD ($) | Jul. 01, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2021 USD ($) | |
Number of Reportable Segments | 1 | |||
Cash Reserve Deposit Required and Made Federal Reserve Banks | $ 0 | $ 0 | ||
Bank Owned Life Insurance | 19,167 | 19,128 | ||
Cash Surrender Value of Life Insurance | 10,222 | 9,959 | ||
Financing Receivable, Allowance for Credit Loss | $ 7,724 | $ 7,160 | $ 6,471 | |
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Subsequent Event [Member] | Maximum [Member] | ||||
Financing Receivable, Allowance for Credit Loss | $ 250 | |||
Off-Balance-Sheet, Credit Loss, Liability | 350 | |||
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Subsequent Event [Member] | Minimum [Member] | ||||
Off-Balance-Sheet, Credit Loss, Liability | $ 275 | |||
Software and Software Development Costs [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |||
Building [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 39 years 6 months |
Note 2 - Acquisition (Details T
Note 2 - Acquisition (Details Textual) - Two Branches from CFBank [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Jul. 16, 2021 | Sep. 30, 2021 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposits | $ 104,538 | |
Business Combination, Consideration Transferred, Deposit Premium, Percent | 1.75% | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | $ 15,602 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Receivable, Net | 19,943 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans, Book Value | 20,325 | |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Credit Related Adjustment | (388) | |
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Other Loan Factors | $ 6 | |
Business Combination, Acquisition Related Costs | $ 144 | |
Business Combination, Acquisition Related Costs, Net of Tax | $ 118 | |
Core Deposits [Member] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year) | 10 years |
Note 2 - Acquisition - Assets A
Note 2 - Acquisition - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Jul. 16, 2021 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 |
Goodwill | $ 2,452 | $ 2,452 | $ 836 | |
CFBank Branches [Member] | ||||
Cash and cash equivalents | $ 515 | |||
Securities, available-for-sale | 15,602 | 0 | 15,602 | |
Loans | 19,943 | |||
Premises and equipment | 413 | 0 | 413 | |
Core deposit intangible | 295 | |||
Accrued interest receivable | 216 | |||
Total assets acquired | 36,984 | 0 | 38,085 | |
Noninterest-bearing deposits | 10,535 | |||
Interest-bearing deposits | 94,003 | |||
Other liabilities | 99 | |||
Total liabilities assumed | 104,637 | 0 | 104,637 | |
Fair value of net liabilities assumed | (67,653) | |||
Cash received | 66,037 | |||
Goodwill | $ 1,616 | $ 0 | $ 1,616 |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | ||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | [1],[2] | $ 3 | $ 1 |
Debt Securities, Available-for-Sale, Restricted | $ 137,896 | 126,679 | |
Available-for-sale, Qualitative Disclosure, Number of Positions | 414 | ||
Held-to-maturity, Qualitative Disclosure, Number of Positions | 4 | ||
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | 400 | ||
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | 333 | ||
Debt Securities, Held-to-maturity, Unrealized Loss Position, Number of Positions | 4 | ||
Equity Securities, FV-NI, Cost | $ 400 | ||
Equity Securities, FV-NI, Realized Gain (Loss), Total | $ 0 | $ 0 | |
[1]Income tax expense[2]Securities gain, net |
Note 3 - Securities - Amortized
Note 3 - Securities - Amortized Cost and Fair Value of Securities Available-for-sale and Securities Held-to-maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Available-for-sale securities, amortized cost | $ 317,530 | $ 324,329 |
Available-for-sale securities, gross unrealized gains | 90 | 143 |
Available-for-sale securities, gross unrealized losses | (38,015) | (28,125) |
Available-for-sale securities, fair value | 279,605 | 296,347 |
Held-to-maturity, amortized cost | 6,970 | 7,874 |
Held-to-maturity, fair value | 6,294 | 7,831 |
US Treasury Securities [Member] | ||
Available-for-sale securities, amortized cost | 8,941 | 8,909 |
Available-for-sale securities, gross unrealized gains | 0 | 0 |
Available-for-sale securities, gross unrealized losses | (533) | (462) |
Available-for-sale securities, fair value | 8,408 | 8,447 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 92,891 | 105,977 |
Available-for-sale securities, gross unrealized gains | 63 | 129 |
Available-for-sale securities, gross unrealized losses | (8,982) | (8,749) |
Available-for-sale securities, fair value | 83,972 | 97,357 |
Held-to-maturity, amortized cost | 6,970 | 7,874 |
Held-to-maturity, gross unrecognized gains | 0 | 47 |
Held-to-maturity, gross unrecognized losses | (676) | (90) |
Held-to-maturity, fair value | 6,294 | 7,831 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Available-for-sale securities, amortized cost | 29,430 | 28,689 |
Available-for-sale securities, gross unrealized gains | 7 | 0 |
Available-for-sale securities, gross unrealized losses | (3,745) | (2,424) |
Available-for-sale securities, fair value | 25,692 | 26,265 |
Residential Mortgage-Backed Securities [Member] | ||
Available-for-sale securities, amortized cost | 104,689 | 113,812 |
Available-for-sale securities, gross unrealized gains | 12 | 13 |
Available-for-sale securities, gross unrealized losses | (15,066) | (11,642) |
Available-for-sale securities, fair value | 89,635 | 102,183 |
Commercial Mortgage-Backed Securities [Member] | ||
Available-for-sale securities, amortized cost | 8,604 | 8,623 |
Available-for-sale securities, gross unrealized gains | 0 | 0 |
Available-for-sale securities, gross unrealized losses | (1,809) | (1,322) |
Available-for-sale securities, fair value | 6,795 | 7,301 |
Collateralized Mortgage Obligations [Member] | ||
Available-for-sale securities, amortized cost | 55,800 | 40,952 |
Available-for-sale securities, gross unrealized gains | 8 | 1 |
Available-for-sale securities, gross unrealized losses | (5,738) | (2,774) |
Available-for-sale securities, fair value | 50,070 | 38,179 |
Other Debt Obligations [Member] | ||
Available-for-sale securities, amortized cost | 17,175 | 17,367 |
Available-for-sale securities, gross unrealized gains | 0 | 0 |
Available-for-sale securities, gross unrealized losses | (2,142) | (752) |
Available-for-sale securities, fair value | $ 15,033 | $ 16,615 |
Note 3 - Securities - Proceeds
Note 3 - Securities - Proceeds From Sales and Calls of Available-for-sale Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Proceeds from sales | $ 16,472 | $ 2,722 |
Gross realized gains | 87 | 8 |
Gross realized losses | $ (73) | $ (2) |
Note 3 - Securities - Amortiz_2
Note 3 - Securities - Amortized Cost and Fair Values of Debt Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | $ 4,997 | |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 4,899 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 29,105 | |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 27,640 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 51,133 | |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 44,817 | |
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis | 63,202 | |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 55,749 | |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis | 148,437 | |
Available-for-sale Securities, Debt Maturities, Single Maturity Date | 133,105 | |
Total available-for-sale securities, Amortized Cost Basis | 317,530 | $ 324,329 |
Total available-for-sale securities | 279,605 | 296,347 |
Due after one year through five years, Net Carrying Amount | 3,092 | |
Due after one year through five years, Fair Value | 2,988 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 533 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | 488 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount | 3,345 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 2,818 | |
Held-to-maturity Securities | 6,970 | 7,874 |
Held-to-maturity Securities, Fair Value | 6,294 | $ 7,831 |
U.S. Government-sponsored Mortgage-backed and Related Securities [Member] | ||
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis | 169,093 | |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Fair Value | $ 146,500 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities With Unrealized and Unrecognized Losses (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Obligations of U.S. government-sponsored entities and agencies | $ 42,390 | $ 245,869 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (1,076) | (23,144) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 228,398 | 29,788 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (36,939) | (4,981) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 270,788 | 275,657 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (38,015) | (28,125) |
US Treasury Securities [Member] | ||
Obligations of U.S. government-sponsored entities and agencies | 0 | 8,447 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 0 | (462) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 8,408 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (533) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 8,408 | 8,447 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (533) | (462) |
US States and Political Subdivisions Debt Securities [Member] | ||
Obligations of U.S. government-sponsored entities and agencies | 16,009 | 80,445 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (344) | (8,331) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 62,492 | 2,047 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (8,638) | (418) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 78,501 | 82,492 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (8,982) | (8,749) |
Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Fair Value | 0 | 3,522 |
Held-to-maturity, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 0 | (90) |
Debt Securities, Held-to-Maturity, Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value | 6,294 | 0 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Aggregate Loss | (676) | 0 |
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Fair Value | 6,294 | 3,522 |
Debt Securities, Held-to-Maturity, Unrealized Loss Position, Accumulated Loss | (676) | (90) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Obligations of U.S. government-sponsored entities and agencies | 1,008 | 26,265 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (10) | (2,424) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 23,551 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (3,735) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 24,559 | 26,265 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (3,745) | (2,424) |
Residential Mortgage-Backed Securities [Member] | ||
Obligations of U.S. government-sponsored entities and agencies | 3,334 | 76,526 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (84) | (7,586) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 85,096 | 24,569 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (14,982) | (4,056) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 88,430 | 101,095 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (15,066) | (11,642) |
Commercial Mortgage-Backed Securities [Member] | ||
Obligations of U.S. government-sponsored entities and agencies | 0 | 7,301 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 0 | (1,322) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 6,795 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (1,809) | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 6,795 | 7,301 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (1,809) | (1,322) |
Collateralized Debt Obligations [Member] | ||
Obligations of U.S. government-sponsored entities and agencies | 22,039 | 30,729 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | (638) | (2,308) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 27,023 | 2,713 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (5,100) | (466) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 49,062 | 33,442 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | (5,738) | (2,774) |
Other Debt Obligations [Member] | ||
Obligations of U.S. government-sponsored entities and agencies | 0 | 16,156 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 0 | (711) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 15,033 | 459 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | (2,142) | (41) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 15,033 | 16,615 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | $ (2,142) | $ (752) |
Note 3 - Securities - Unrealize
Note 3 - Securities - Unrealized Gains and Losses on Equity Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Unrealized loss recognized on equity securities held at the end of the period | $ (14) | $ (24) |
Note 4 - Loans (Details Textual
Note 4 - Loans (Details Textual) Pure in Thousands, $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | |
Interest Receivable | $ 1,598 | $ 1,214 |
Financing Receivable, Nonaccrual | 54 | 431 |
Financing Receivable, Modified, Accumulated | 351 | 318 |
Troubled Debt Restructuring, Debtor, Subsequent Periods, Contingent Payments, Amount | $ 0 | $ 0 |
Financing Receivable, Modifications, Number of Contracts | 0 | 0 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 |
Threshold Amount of Loans Outstanding to Perform Credit Analysis | $ 100 | |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Nonaccrual | $ 54 | $ 27 |
Financial Asset, Not Past Due [Member] | ||
Financing Receivable, Nonaccrual | $ 404 |
Note 4 - Loans - Major Classifi
Note 4 - Loans - Major Classifications (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 |
Gross loans | $ 710,104 | $ 611,567 | |
Gross loans | 710,104 | 611,567 | |
Net deferred loan fees and costs | 258 | 276 | |
Allowance for loan losses | (7,724) | (7,160) | $ (6,471) |
Net loans | 702,638 | 604,683 | |
Commercial Portfolio Segment [Member] | |||
Gross loans | 112,558 | 87,008 | |
Gross loans | 112,558 | 87,008 | |
Allowance for loan losses | (1,308) | (960) | (904) |
Commercial Real Estate Portfolio Segment [Member] | |||
Allowance for loan losses | (3,943) | (3,927) | (3,949) |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | |||
Gross loans | 23,981 | 15,158 | |
Gross loans | 23,981 | 15,158 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | |||
Gross loans | 318,636 | 291,847 | |
Gross loans | 318,636 | 291,847 | |
Residential Portfolio Segment [Member] | |||
Allowance for loan losses | (1,571) | (1,645) | (1,307) |
Residential Portfolio Segment [Member] | Construction Loans [Member] | |||
Gross loans | 8,443 | 4,317 | |
Gross loans | 8,443 | 4,317 | |
Residential Portfolio Segment [Member] | Residential Real Estate Owner Occupied Loans [Member] | |||
Gross loans | 156,989 | 142,244 | |
Gross loans | 156,989 | 142,244 | |
Residential Portfolio Segment [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | |||
Gross loans | 23,880 | 26,029 | |
Gross loans | 23,880 | 26,029 | |
Consumer Portfolio Segment [Member] | |||
Gross loans | 65,617 | 44,964 | |
Gross loans | 65,617 | 44,964 | |
Allowance for loan losses | $ (902) | $ (628) | $ (311) |
Note 4 - Loans - Allowance for
Note 4 - Loans - Allowance for Loan Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Balance | $ 7,160 | $ 6,471 |
Provision for loan losses | 855 | 735 |
Loans charged-off | (447) | (173) |
Recoveries | 156 | 127 |
Balance | 7,724 | 7,160 |
Individually evaluated for impairment | 0 | 0 |
Total ending allowance balance | 7,724 | 7,160 |
Loans individually evaluated for impairment | 405 | 473 |
Total ending loans balance | 711,960 | 613,057 |
Financial Asset Acquired [Member] | ||
Acquired loans collectively evaluated for impairment | 114 | 148 |
Loans collectively evaluated for impairment | 31,843 | 41,542 |
Financial Asset Originated [Member] | ||
Acquired loans collectively evaluated for impairment | 7,610 | 7,012 |
Loans collectively evaluated for impairment | 679,712 | 571,042 |
Commercial Portfolio Segment [Member] | ||
Balance | 960 | 904 |
Provision for loan losses | 348 | 33 |
Loans charged-off | 0 | 0 |
Recoveries | 0 | 23 |
Balance | 1,308 | 960 |
Individually evaluated for impairment | 0 | 0 |
Total ending allowance balance | 1,308 | 960 |
Loans individually evaluated for impairment | 314 | 276 |
Total ending loans balance | 112,826 | 87,251 |
Commercial Portfolio Segment [Member] | Financial Asset Acquired [Member] | ||
Acquired loans collectively evaluated for impairment | 0 | 1 |
Loans collectively evaluated for impairment | 622 | 665 |
Commercial Portfolio Segment [Member] | Financial Asset Originated [Member] | ||
Acquired loans collectively evaluated for impairment | 1,308 | 959 |
Loans collectively evaluated for impairment | 111,890 | 86,310 |
Commercial Real Estate Portfolio Segment [Member] | ||
Balance | 3,927 | 3,949 |
Provision for loan losses | 15 | (24) |
Loans charged-off | 0 | 0 |
Recoveries | 1 | 2 |
Balance | 3,943 | 3,927 |
Individually evaluated for impairment | 0 | 0 |
Total ending allowance balance | 3,943 | 3,927 |
Loans individually evaluated for impairment | 88 | 42 |
Total ending loans balance | 342,701 | 306,913 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Acquired [Member] | ||
Acquired loans collectively evaluated for impairment | 40 | 62 |
Loans collectively evaluated for impairment | 6,953 | 10,095 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Originated [Member] | ||
Acquired loans collectively evaluated for impairment | 3,903 | 3,865 |
Loans collectively evaluated for impairment | 335,660 | 296,776 |
Residential Portfolio Segment [Member] | ||
Balance | 1,645 | 1,307 |
Provision for loan losses | (72) | 359 |
Loans charged-off | (6) | (41) |
Recoveries | 4 | 20 |
Balance | 1,571 | 1,645 |
Individually evaluated for impairment | 0 | 0 |
Total ending allowance balance | 1,571 | 1,645 |
Loans individually evaluated for impairment | 3 | 155 |
Total ending loans balance | 190,839 | 173,944 |
Residential Portfolio Segment [Member] | Financial Asset Acquired [Member] | ||
Acquired loans collectively evaluated for impairment | 74 | 85 |
Loans collectively evaluated for impairment | 23,038 | 27,731 |
Residential Portfolio Segment [Member] | Financial Asset Originated [Member] | ||
Acquired loans collectively evaluated for impairment | 1,497 | 1,560 |
Loans collectively evaluated for impairment | 167,798 | 146,058 |
Consumer Portfolio Segment [Member] | ||
Balance | 628 | 311 |
Provision for loan losses | 564 | 367 |
Loans charged-off | (441) | (132) |
Recoveries | 151 | 82 |
Balance | 902 | 628 |
Individually evaluated for impairment | 0 | 0 |
Total ending allowance balance | 902 | 628 |
Loans individually evaluated for impairment | 0 | 0 |
Total ending loans balance | 65,594 | 44,949 |
Consumer Portfolio Segment [Member] | Financial Asset Acquired [Member] | ||
Acquired loans collectively evaluated for impairment | 0 | 0 |
Loans collectively evaluated for impairment | 1,230 | 3,051 |
Consumer Portfolio Segment [Member] | Financial Asset Originated [Member] | ||
Acquired loans collectively evaluated for impairment | 902 | 628 |
Loans collectively evaluated for impairment | $ 64,364 | $ 41,898 |
Note 4 - Loans - Impaired Loans
Note 4 - Loans - Impaired Loans (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Impaired Financing Receivable, Unpaid Principal Balance | $ 558 | $ 738 |
Impaired Financing Receivable, Recorded Investment | 405 | 473 |
Impaired Financing Receivable, Related Allowance | 0 | 0 |
Impaired Financing Receivable, Average Recorded Investment | 425 | 1,202 |
Impaired Financing Receivable, Interest Income, Accrual Method | 45 | 282 |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 45 | 282 |
Commercial Portfolio Segment [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 404 | 414 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 314 | 276 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 306 | 291 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 37 | 0 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 37 | 0 |
Impaired Financing Receivable, Related Allowance | 0 | |
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 0 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 0 | |
Impaired Financing Receivable, with Related Allowance, Average Recorded Investment | 113 | |
Impaired Financing Receivable, with Related Allowance, Interest Income, Accrual Method | 6 | |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 6 | |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 127 | 83 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 88 | 42 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 52 | 518 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 6 | 193 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 6 | 193 |
Residential Portfolio Segment [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 24 | 48 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 0 | 22 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 38 | 187 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 2 | 8 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | 2 | 8 |
Residential Portfolio Segment [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 3 | 193 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3 | 133 |
Impaired Financing Receivable, with No Related Allowance, Average Recorded Investment | 29 | 93 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Accrual Method | 0 | 75 |
Impaired Financing Receivable, with No Related Allowance, Interest Income, Cash Basis Method | $ 0 | $ 75 |
Note 4 - Loans - Loans Past Due
Note 4 - Loans - Loans Past Due (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 54 | $ 431 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 50 | 9 |
Recorded investment | 711,960 | 613,057 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Recorded investment | 455 | 558 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Recorded investment | 244 | 79 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 54 | 27 |
Recorded investment | 104 | 36 |
Financial Asset, Past Due [Member] | ||
Recorded investment | 803 | 673 |
Financial Asset, Not Past Due [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 404 | |
Recorded investment | 711,157 | 612,384 |
Commercial Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 276 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 9 |
Recorded investment | 112,826 | 87,251 |
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Recorded investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Recorded investment | 0 | 0 |
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Recorded investment | 0 | 9 |
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Recorded investment | 0 | 9 |
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Recorded investment | 112,826 | 87,242 |
Commercial Real Estate Portfolio Segment [Member] | ||
Recorded investment | 342,701 | 306,913 |
Commercial Real Estate Portfolio Segment [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 51 | 0 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Recorded investment | 318,705 | 291,775 |
Commercial Real Estate Portfolio Segment [Member] | Construction Loans [Member] | ||
Recorded investment | 23,996 | 15,138 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Other Commercial Real Estate Loans [Member] | ||
Recorded investment | 0 | 52 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||
Recorded investment | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Other Commercial Real Estate Loans [Member] | ||
Recorded investment | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||
Recorded investment | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Commercial Real Estate Loans [Member] | ||
Recorded investment | 51 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Loans [Member] | ||
Recorded investment | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Other Commercial Real Estate Loans [Member] | ||
Recorded investment | 51 | 52 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Construction Loans [Member] | ||
Recorded investment | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Other Commercial Real Estate Loans [Member] | ||
Recorded investment | 318,654 | 291,723 |
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Construction Loans [Member] | ||
Recorded investment | 23,996 | 15,138 |
Residential Portfolio Segment [Member] | ||
Recorded investment | 190,839 | 173,944 |
Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
Recorded investment | 8,514 | 4,375 |
Residential Portfolio Segment [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 22 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Recorded investment | 158,437 | 143,506 |
Residential Portfolio Segment [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 3 | 133 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 0 | 0 |
Recorded investment | 23,888 | 26,063 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||
Recorded investment | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Recorded investment | 17 | 125 |
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Recorded investment | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||
Recorded investment | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Recorded investment | 124 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Recorded investment | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Construction Loans [Member] | ||
Recorded investment | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Recorded investment | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Recorded investment | 3 | 27 |
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Construction Loans [Member] | ||
Recorded investment | 0 | 0 |
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Recorded investment | 141 | 125 |
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Recorded investment | 3 | 27 |
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Construction Loans [Member] | ||
Recorded investment | 8,514 | 4,375 |
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Recorded investment | 158,296 | 143,381 |
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Recorded investment | 23,885 | 26,036 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 0 | 0 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing | 50 | 0 |
Recorded investment | 65,594 | 44,949 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Recorded investment | 438 | 381 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Recorded investment | 120 | 79 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Recorded investment | 50 | 0 |
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member] | ||
Recorded investment | 608 | 460 |
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member] | ||
Recorded investment | $ 64,986 | $ 44,489 |
Note 4 - Loans - Recorded Inves
Note 4 - Loans - Recorded Investment by Risk Category (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Financing Receivable, Net | $ 702,638 | $ 604,683 |
Pass [Member] | ||
Financing Receivable, Net | 474,662 | 414,046 |
Special Mention [Member] | ||
Financing Receivable, Net | 8,321 | 2,909 |
Substandard [Member] | ||
Financing Receivable, Net | 1,163 | 4,889 |
Doubtful [Member] | ||
Financing Receivable, Net | 54 | 431 |
Not Rated [Member] | ||
Financing Receivable, Net | 227,760 | 190,782 |
Commercial Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Net | 110,928 | 86,265 |
Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Net | 1,174 | 350 |
Commercial Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Net | 573 | 178 |
Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Net | 0 | 276 |
Commercial Portfolio Segment [Member] | Not Rated [Member] | ||
Financing Receivable, Net | 151 | 182 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 23,996 | 15,138 |
Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 310,427 | 283,877 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 7,097 | 2,500 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 468 | 4,711 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 51 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Not Rated [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 0 | 0 |
Commercial Real Estate Portfolio Segment [Member] | Not Rated [Member] | Other Commercial Real Estate Loans [Member] | ||
Financing Receivable, Net | 662 | 687 |
Residential Portfolio Segment [Member] | Pass [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 3,227 | 1,234 |
Residential Portfolio Segment [Member] | Pass [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Net | 2,013 | 1,321 |
Residential Portfolio Segment [Member] | Pass [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 23,474 | 25,606 |
Residential Portfolio Segment [Member] | Special Mention [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 0 | 0 |
Residential Portfolio Segment [Member] | Special Mention [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Net | 0 | 0 |
Residential Portfolio Segment [Member] | Special Mention [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 50 | 59 |
Residential Portfolio Segment [Member] | Substandard [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 0 | 0 |
Residential Portfolio Segment [Member] | Substandard [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Net | 17 | 0 |
Residential Portfolio Segment [Member] | Substandard [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 105 | 0 |
Residential Portfolio Segment [Member] | Doubtful [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 0 | 0 |
Residential Portfolio Segment [Member] | Doubtful [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Net | 0 | 22 |
Residential Portfolio Segment [Member] | Doubtful [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 3 | 133 |
Residential Portfolio Segment [Member] | Not Rated [Member] | Construction Loans [Member] | ||
Financing Receivable, Net | 5,287 | 3,141 |
Residential Portfolio Segment [Member] | Not Rated [Member] | Residential Real Estate Owner Occupied Loans [Member] | ||
Financing Receivable, Net | 156,407 | 142,163 |
Residential Portfolio Segment [Member] | Not Rated [Member] | Residential Real Estate Non-owner Occupied Loans [Member] | ||
Financing Receivable, Net | 256 | 265 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Financing Receivable, Net | 597 | 605 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Financing Receivable, Net | 0 | 0 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Financing Receivable, Net | 0 | 0 |
Consumer Portfolio Segment [Member] | Doubtful [Member] | ||
Financing Receivable, Net | 0 | 0 |
Consumer Portfolio Segment [Member] | Not Rated [Member] | ||
Financing Receivable, Net | $ 64,997 | $ 44,344 |
Note 5 - Premises and Equipme_3
Note 5 - Premises and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Depreciation | $ 1,051 | $ 991 |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 7 years 10 months 13 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 1.95% | |
Operating Lease, Expense | $ 254 | $ 228 |
Premises and Equipment [Member] | ||
Operating Lease, Right-of-Use Asset | 921 | |
Other Liabilities [Member] | ||
Operating Lease, Liability | $ 951 |
Note 5 - Premises and Equipme_4
Note 5 - Premises and Equipment - Major Classifications of Premises and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Premises and equipment, gross | $ 26,404 | $ 24,816 |
Accumulated depreciation and amortization | (9,222) | (8,296) |
Premises and equipment, net | 17,182 | 16,521 |
Land [Member] | ||
Premises and equipment, gross | 2,417 | 1,685 |
Land Improvements [Member] | ||
Premises and equipment, gross | 414 | 318 |
Building And Leasehold Improvements [Member] | ||
Premises and equipment, gross | 15,973 | 15,608 |
Furniture and Fixtures [Member] | ||
Premises and equipment, gross | $ 7,600 | $ 7,206 |
Note 5 - Premises and Equipme_5
Note 5 - Premises and Equipment - Maturities of Lease Liabilities (Details) $ in Thousands | Jun. 30, 2023 USD ($) |
2024 | $ 177 |
2025 | 145 |
2026 | 125 |
2027 | 115 |
2028 | 115 |
Thereafter | 342 |
Total undiscounted cash flows | 1,019 |
Less: present value discount | (68) |
Other Liabilities [Member] | |
Total lease liabilities | $ 951 |
Note 6 - Goodwill and Acquire_3
Note 6 - Goodwill and Acquired Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Goodwill, Impairment Loss | $ 0 | |
Amortization of Intangible Assets | 56 | $ 54 |
Finite-Lived Intangible Asset, Expected Amortization, Year One | 57 | |
Finite-Lived Intangible Asset, Expected Amortization, after Year Four | 186 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Two | 57 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Three | 57 | |
Finite-Lived Intangible Asset, Expected Amortization, Year Four | $ 57 | |
Core Deposits [Member] | ||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years |
Note 6 - Goodwill and Acquire_4
Note 6 - Goodwill and Acquired Intangible Assets - Change in Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Beginning of year | $ 2,452 | $ 836 |
Acquired goodwill | 0 | 1,616 |
Ending balance as of June 30, | $ 2,452 | $ 2,452 |
Note 6 - Goodwill and Acquire_5
Note 6 - Goodwill and Acquired Intangible Assets - Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Core deposit intangible | $ 565 | $ 565 |
Core Deposits [Member] | ||
Accumulated amortization | $ 151 | $ 95 |
Note 7 - Deposits - Interest-be
Note 7 - Deposits - Interest-bearing Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Interest bearing demand | $ 152,053 | $ 157,462 |
Savings and money market | 335,231 | 369,054 |
$250 and over | 46,822 | 18,164 |
Other | 167,521 | 84,217 |
Total | $ 701,627 | $ 628,897 |
Note 7 - Deposits - Maturities
Note 7 - Deposits - Maturities of Time Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
2024 | $ 193,381 | |
2025 | 16,089 | |
2026 | 2,890 | |
2027 | 1,373 | |
2028 | 434 | |
Thereafter | 176 | |
Total | $ 214,343 | $ 102,381 |
Note 8 - Short-term Borrowing_2
Note 8 - Short-term Borrowings (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Interest Expense, Short-Term Borrowings | $ 397 | $ 47 |
Unsecured Debt [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | 5,000 | |
Long-Term Line of Credit | $ 1,200 | $ 1,270 |
Note 8 - Short-term Borrowing_3
Note 8 - Short-term Borrowings - Summary of Short-term Borrowings (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Short-term borrowings | $ 26,367 | $ 21,295 |
Average balance during the year | 22,603 | 12,960 |
Maximum month-end balance | $ 26,367 | $ 21,878 |
Average interest rate during the year | 1.76% | 0.36% |
Weighted average rate, June 30 | 2.20% | 0.61% |
Note 8 - Short-term Borrowing_4
Note 8 - Short-term Borrowings - Schedule of Repurchase Agreements (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Securities, available-for-sale | $ 279,605 | $ 296,347 |
Repurchase Agreements | 23,783 | 20,025 |
Asset Pledged as Collateral [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Securities, available-for-sale | 27,019 | 21,967 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities, available-for-sale | 25,692 | 26,265 |
US Government-sponsored Enterprises Debt Securities [Member] | Asset Pledged as Collateral [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Securities, available-for-sale | 3,730 | 3,331 |
Residential Mortgage-Backed Securities [Member] | ||
Securities, available-for-sale | 89,635 | 102,183 |
Residential Mortgage-Backed Securities [Member] | Asset Pledged as Collateral [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Securities, available-for-sale | 19,648 | 11,954 |
Commercial Mortgage-Backed Securities [Member] | ||
Securities, available-for-sale | 6,795 | 7,301 |
Commercial Mortgage-Backed Securities [Member] | Asset Pledged as Collateral [Member] | Securities Sold under Agreements to Repurchase [Member] | ||
Securities, available-for-sale | $ 3,641 | $ 6,682 |
Note 9 - Federal Home Loan Ba_3
Note 9 - Federal Home Loan Bank Advances (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Prepayment Penalty for Advances Received, Percentage of Lost Cash Flow | 100% | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 109,442 | |
First Mortgage Loans [Member] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 169,993 | $ 152,868 |
Note 9 - Federal Home Loan Ba_4
Note 9 - Federal Home Loan Bank Advances - Summary of Federal Home Loan Bank (FHLB) Advances (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
FHLB advance amount | $ 8,776 | |
Fixed Rate Amortizing FHLB Advances [Member] | ||
FHLB advance amount | $ 176 | $ 256 |
Weighted average rate | 1.37% | 1.37% |
Fixed Rate Amortizing FHLB Advances [Member] | Minimum [Member] | ||
Stated Interest rate range | 1.37% | |
Fixed Rate Amortizing FHLB Advances [Member] | Maximum [Member] | ||
Stated Interest rate range | 1.37% | |
Fixed Rate FHLB Advances [Member] | ||
FHLB advance amount | $ 8,000 | $ 8,000 |
Weighted average rate | 1.04% | 1.04% |
Fixed Rate FHLB Advances [Member] | Minimum [Member] | ||
Stated Interest rate range | 0.90% | |
Fixed Rate FHLB Advances [Member] | Maximum [Member] | ||
Stated Interest rate range | 1.18% | |
Variable Rate FHLB Advances [Member] | ||
FHLB advance amount | $ 600 | $ 0 |
Weighted average rate | 5.19% | 0% |
Variable Rate FHLB Advances [Member] | Minimum [Member] | ||
Stated Interest rate range | 5.19% | |
Variable Rate FHLB Advances [Member] | Maximum [Member] | ||
Stated Interest rate range | 5.19% |
Note 9 - Federal Home Loan Ba_5
Note 9 - Federal Home Loan Bank Advances - Summary of the Scheduled Principal Payments (Details) $ in Thousands | Jun. 30, 2023 USD ($) |
2024 | $ 671 |
2025 | 4,056 |
2026 | 46 |
2027 | 3 |
2028 | 0 |
Thereafter | 4,000 |
Total | $ 8,776 |
Note 10 - Employee Benefit Pl_3
Note 10 - Employee Benefit Plans (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage | 100% | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 4% | |
Defined Contribution Plan, Cost | $ 390 | $ 364 |
Defined Benefit Plan, Accumulated Benefit Obligation | $ 3,687 | $ 3,564 |
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 5.75% | 3% |
Defined Benefit Plan, Other Cost (Credit) | $ 256 | $ 534 |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 133 | 110 |
Restricted Stock Units (RSUs) [Member] | Directors and Senior Management [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 100% | |
Restricted Stock [Member] | ||
Share-Based Payment Arrangement, Expense | $ 579 | $ 361 |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 473 | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 8 months 12 days | |
Share-Based Payment Arrangement, Tranche One [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 25% | |
Share-Based Payment Arrangement, Tranche Three [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage | 25% | |
Share-based Payment Arrangement, Tranche Two, Three and Tour[Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years |
Note 10 - Employee Benefit Pl_4
Note 10 - Employee Benefit Plans - Summary of the Restricted Stock Awards (Details) | 12 Months Ended |
Jun. 30, 2023 $ / shares shares | |
Restricted Stock [Member] | |
Restricted Stock Awards, Outstanding, Beginning Balance (in shares) | shares | 17,069 |
Weighted-Average Grant Date Fair Value Per Share, Outstanding at Beginning Period (in dollars per share) | $ / shares | $ 19.95 |
Restricted Stock Awards, Granted (in shares) | shares | 26,743 |
Weighted-Average Grant Date Fair Value Per Share, Granted (in dollars per share) | $ / shares | $ 18.74 |
Restricted Stock Awards, Vested (in shares) | shares | (20,768) |
Weighted-Average Grant Date Fair Value Per Share, Vested (in dollars per share) | $ / shares | $ 18.93 |
Restricted Stock Awards, Outstanding, Ending Balance (in shares) | shares | 23,044 |
Weighted-Average Grant Date Fair Value Per Share, Outstanding at Ending Period (in dollars per share) | $ / shares | $ 19.46 |
Restricted Stock Units (RSUs) [Member] | |
Restricted Stock Awards, Outstanding, Beginning Balance (in shares) | shares | 0 |
Weighted-Average Grant Date Fair Value Per Share, Outstanding at Beginning Period (in dollars per share) | $ / shares | $ 0 |
Restricted Stock Awards, Granted (in shares) | shares | 17,578 |
Weighted-Average Grant Date Fair Value Per Share, Granted (in dollars per share) | $ / shares | $ 18.74 |
Restricted Stock Awards, Vested (in shares) | shares | (8,500) |
Weighted-Average Grant Date Fair Value Per Share, Vested (in dollars per share) | $ / shares | $ 18.74 |
Restricted Stock Awards, Outstanding, Ending Balance (in shares) | shares | 9,078 |
Weighted-Average Grant Date Fair Value Per Share, Outstanding at Ending Period (in dollars per share) | $ / shares | $ 18.74 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | |
Effective Income Tax Rate Reconciliation, Percent | 17.40% | 17.30% |
Unrecognized Tax Benefits | $ 0 | $ 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $ 0 | $ 0 |
Open Tax Year | 2019 2020 2021 2022 2023 |
Note 11 - Income Taxes - Provis
Note 11 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Current income taxes | $ 2,344 | $ 2,193 |
Deferred income tax expense (benefit) | (96) | 146 |
Total income tax expense | $ 2,248 | $ 2,339 |
Note 11 - Income Taxes - Net De
Note 11 - Income Taxes - Net Deferred Income Tax Asset (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Allowance for loan losses | $ 1,622 | $ 1,504 |
Deferred compensation | 986 | 999 |
Deferred income | 31 | 18 |
Non-accrual loan interest income | 20 | 29 |
Net unrealized securities loss | 7,964 | 5,876 |
Other | 3 | 6 |
Gross deferred tax asset | 10,626 | 8,432 |
Depreciation | (783) | (821) |
Loan fees | (640) | (582) |
FHLB stock dividends | (102) | (102) |
Prepaid expenses | (150) | (150) |
Intangible assets | (199) | (209) |
Gross deferred tax liabilities | (1,874) | (1,864) |
Net deferred asset | $ 8,752 | $ 6,568 |
Note 11 - Income Taxes - Schedu
Note 11 - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Income taxes computed at the statutory rate on pretax income | $ 2,714 | $ 2,842 |
Tax exempt income | (400) | (431) |
Cash surrender value income | (55) | (54) |
Tax credit | (17) | (22) |
Other non-deductible expenses | 6 | 4 |
Total income tax expense | $ 2,248 | $ 2,339 |
Note 12 - Related Party Trans_3
Note 12 - Related Party Transactions (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Executive Officers, Directors and Their Affiliates [Member] | ||
Related Party Deposit Liabilities | $ 6,100 | $ 6,781 |
Note 12 - Related Party Trans_4
Note 12 - Related Party Transactions - Loans to Related Parties (Details) - Executive Officers, Directors and Their Affiliates [Member] $ in Thousands | 12 Months Ended |
Jun. 30, 2023 USD ($) | |
Principal balance | $ 2,546 |
New loans, net of refinancing | 210 |
Repayments | (99) |
Principal balance | $ 2,657 |
Note 13 - Regulatory Matters (D
Note 13 - Regulatory Matters (Details Textual) $ in Thousands | Jun. 30, 2023 USD ($) |
Banking Regulation, Capital Conservation Buffer, Capital Conserved, Minimum | 0.025 |
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 21,811 |
Note 13 - Regulatory Matters -
Note 13 - Regulatory Matters - Schedule of Compliance With Regulatory Capital Requirements Under Banking Regulations (Details) - USD ($) | Jun. 30, 2023 | Jun. 30, 2022 | |
Common Equity Tier One Risk Based Capital | $ 83,500 | $ 74,100 | |
Common Equity Tier One Risk Based Capital to Risk Weighted Assets | 11.05% | 11.39% | |
Common Equity Tier One Risk Based Capital Required for Capital Adequacy | [1] | $ 34,000 | $ 29,300 |
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | [1] | 4.50% | 4.50% |
Common Equity Tier One Risk Based Capital Required to be Well Capitalized | $ 49,100 | $ 42,300 | |
Common Equity Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.50% | 6.50% | |
Tier One Risk Based Capital | $ 83,500 | $ 74,100 | |
Tier 1 capital to risk weighted assets Bank | 0.1105 | 0.1139 | |
Tier One Risk Based Capital Required for Capital Adequacy | [1] | $ 45,400 | $ 39,000 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | [1] | 0.0600 | 0.0600 |
Tier One Risk Based Capital Required to be Well Capitalized | $ 60,500 | $ 52,100 | |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 0.0800 | 0.0800 | |
Capital | $ 91,200 | $ 81,300 | |
Capital to Risk Weighted Assets | 0.1207 | 0.1249 | |
Capital Required for Capital Adequacy | [1] | $ 60,500 | $ 52,100 |
Capital Required for Capital Adequacy to Risk Weighted Assets | [1] | 0.0800 | 0.0800 |
Capital Required to be Well Capitalized | $ 75,600 | $ 65,100 | |
Capital Required to be Well Capitalized to Risk Weighted Assets | 0.1000 | 0.1000 | |
Tier One Leverage Capital | $ 83,500 | $ 74,100 | |
Tier One Leverage Capital to Average Assets | 0.0772 | 0.0739 | |
Tier One Leverage Capital Required for Capital Adequacy | [1] | $ 43,300 | $ 40,100 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | [1] | 0.0400 | 0.0400 |
Tier One Leverage Capital Required to be Well Capitalized | $ 54,100 | $ 50,100 | |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 0.0500 | 0.0500 | |
[1]These amounts exclude the capital conservation buffer. |
Note 14 - Commitments With Of_2
Note 14 - Commitments With Off-balance Sheet Risk (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure | $ 142,767 | $ 148,390 |
Loans and Leases Receivable, Commitments, Variable Rates | 126,698 | 119,637 |
Loans and Leases Receivable, Commitments, Fixed Rates | 16,069 | 28,753 |
Commitments to Extend Credit [Member] | ||
Fair Value Disclosure, off-Balance-Sheet Risks, Face Amount, Liability | 11,834 | 11,621 |
Financial Standby Letter of Credit [Member] | ||
Fair Value Disclosure, off-Balance-Sheet Risks, Face Amount, Liability | $ 1,178 | $ 1,110 |
Minimum [Member] | ||
Loans and Leases Receivable Commitments Fixed Rates Percentage | 3.05% | 2.62% |
Maximum [Member] | ||
Loans and Leases Receivable Commitments Fixed Rates Percentage | 11% | 8.25% |
Note 15 - Fair Value (Details T
Note 15 - Fair Value (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Other Real Estate | $ 124 | |
Fair Value, Nonrecurring [Member] | ||
Assets, Fair Value Disclosure | 0 | $ 0 |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | ||
Financing Receivable, Allowance for Credit Loss, Period Increase (Decrease) | $ 0 | $ 0 |
Note 15 - Fair Value - Assets a
Note 15 - Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Securities, available-for-sale | $ 279,605 | $ 296,347 |
Equity securities | 386 | 400 |
US Treasury Securities [Member] | ||
Securities, available-for-sale | 8,408 | 8,447 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities, available-for-sale | 25,692 | 26,265 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities, available-for-sale | 83,972 | 97,357 |
Residential Mortgage-Backed Securities [Member] | ||
Securities, available-for-sale | 89,635 | 102,183 |
Commercial Mortgage-Backed Securities [Member] | ||
Securities, available-for-sale | 6,795 | 7,301 |
Other Debt Obligations [Member] | ||
Securities, available-for-sale | 15,033 | 16,615 |
Fair Value, Recurring [Member] | ||
Equity securities | 386 | 400 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Equity securities | 0 | 0 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Equity securities | 386 | 400 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Equity securities | 0 | 0 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Securities, available-for-sale | 8,408 | 8,447 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | 0 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 8,408 | 8,447 |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | 0 | |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | ||
Securities, available-for-sale | 25,692 | 26,265 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | 0 | |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 25,692 | 26,265 |
Fair Value, Recurring [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | 0 | |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities, available-for-sale | 83,972 | 97,357 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 83,972 | 97,357 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Residential Mortgage-Backed Securities [Member] | ||
Securities, available-for-sale | 89,635 | 102,183 |
Fair Value, Recurring [Member] | Residential Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Residential Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 89,635 | 102,183 |
Fair Value, Recurring [Member] | Residential Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Commercial Mortgage-Backed Securities [Member] | ||
Securities, available-for-sale | 6,795 | 7,301 |
Fair Value, Recurring [Member] | Commercial Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Commercial Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 6,795 | 7,301 |
Fair Value, Recurring [Member] | Commercial Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Securities, available-for-sale | 50,070 | 38,179 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 50,070 | 38,179 |
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | ||
Securities, available-for-sale | 15,033 | 16,615 |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Securities, available-for-sale | 0 | 0 |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Securities, available-for-sale | 15,033 | 16,615 |
Fair Value, Recurring [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Securities, available-for-sale | $ 0 | $ 0 |
Note 15 - Fair Value - Estimate
Note 15 - Fair Value - Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Held-to-maturity, fair value | $ 6,294 | $ 7,831 |
Fair Value, Inputs, Level 1 [Member] | Reported Value Measurement [Member] | ||
Cash and cash equivalents | 11,755 | 20,952 |
Fair Value, Inputs, Level 1 [Member] | Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 11,755 | 20,952 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | ||
Certificates of deposit in other financial institutions | 2,501 | 3,781 |
Loans held for sale | 764 | 1,165 |
Accrued interest receivable | 3,024 | 2,703 |
Short-term borrowings | 26,367 | 21,295 |
Federal Home Loan Bank advances | 8,776 | 8,256 |
Accrued interest payable | 344 | 49 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Demand and Savings Deposits [Member] | ||
Demand and savings deposits | 738,190 | 784,181 |
Fair Value, Inputs, Level 2 [Member] | Reported Value Measurement [Member] | Time Deposits [Member] | ||
Demand and savings deposits | 214,343 | 102,381 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | ||
Certificates of deposit in other financial institutions | 2,450 | 3,847 |
Loans held for sale | 774 | 1,188 |
Accrued interest receivable | 3,024 | 2,703 |
Short-term borrowings | 26,367 | 21,295 |
Federal Home Loan Bank advances | 7,678 | 7,215 |
Accrued interest payable | 344 | 49 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Demand and Savings Deposits [Member] | ||
Demand and savings deposits | 738,190 | 784,181 |
Fair Value, Inputs, Level 2 [Member] | Estimate of Fair Value Measurement [Member] | Time Deposits [Member] | ||
Demand and savings deposits | 211,856 | 102,622 |
Fair Value, Inputs, Level 3 [Member] | Reported Value Measurement [Member] | ||
Held-to-maturity, fair value | 6,970 | 7,874 |
Loans, net | 702,638 | 604,683 |
Fair Value, Inputs, Level 3 [Member] | Estimate of Fair Value Measurement [Member] | ||
Held-to-maturity, fair value | 6,294 | 7,831 |
Loans, net | $ 656,737 | $ 577,708 |
Note 16 - Affordable Tax Cred_2
Note 16 - Affordable Tax Credit Partnership (Details Textual) $ in Thousands | Jun. 30, 2023 USD ($) |
Amortization Method Qualified Affordable Housing Project Investments | $ 10,250 |
Qualified Affordable Housing Project Investments, Commitment | $ 9,668 |
Note 17 - Parent Company Fina_3
Note 17 - Parent Company Financial Statements - Condensed Balance Sheets (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 |
Total assets | $ 1,060,024 | $ 977,313 | |
Short-term borrowings | 26,367 | 21,295 | |
Shareholders’ equity | 55,484 | 53,970 | $ 69,900 |
Total liabilities & shareholders’ equity | 1,060,024 | 977,313 | |
Parent Company [Member] | |||
Cash | 26 | 76 | |
Equity securities, at fair value | 386 | 400 | |
Other assets | 22 | 17 | |
Investment in subsidiary | 56,328 | 54,823 | |
Total assets | 56,762 | 55,316 | |
Short-term borrowings | 1,200 | 1,270 | |
Other liabilities | 78 | 76 | |
Shareholders’ equity | 55,484 | 53,970 | |
Total liabilities & shareholders’ equity | $ 56,762 | $ 55,316 |
Note 17 - Parent Company Fina_4
Note 17 - Parent Company Financial Statements - Condensed Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Dividend income | $ 33 | $ 33 |
Net change in market value of equity securities | (14) | (24) |
Interest expense | 7,224 | 1,414 |
Income tax benefit | 2,248 | 2,339 |
Net income | 10,674 | 11,192 |
Comprehensive income (loss) | 2,819 | (14,464) |
Parent Company [Member] | ||
Cash dividends from Bank subsidiary | 1,575 | 195 |
Dividend income | 33 | 33 |
Net change in market value of equity securities | (14) | (24) |
Other income | 14 | 2 |
Interest expense | (75) | (31) |
Other expense | (295) | (258) |
Income (loss) before income taxes and equity in undistributed net income of subsidiary | 1,238 | (83) |
Income tax benefit | (76) | (63) |
Income (loss) before equity in undistributed net income of Bank subsidiary | 1,314 | (20) |
Equity in undistributed net income of subsidiary | 9,360 | 11,212 |
Net income | 10,674 | 11,192 |
Comprehensive income (loss) | $ 2,819 | $ (14,464) |
Note 17 - Parent Company Fina_5
Note 17 - Parent Company Financial Statements - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Net income | $ 10,674 | $ 11,192 |
Net change in market value of equity securities | 14 | 24 |
Net cash flows from operating activities | 13,316 | 14,947 |
Net cash flows from investing activities | (92,219) | (65,222) |
Net change in short-term borrowings | 5,072 | 9,092 |
Net cash flows from financing activities | 69,706 | 52,698 |
Change in cash and cash equivalents | (9,197) | 2,423 |
Parent Company [Member] | ||
Net income | 10,674 | 11,192 |
Equity in undistributed net income of Bank subsidiary | (9,360) | (11,212) |
Net change in market value of equity securities | 14 | 24 |
Change in other assets and liabilities | (3) | 24 |
Net cash flows from operating activities | 1,325 | 28 |
Disposal of premises and equipment | 0 | 18 |
Net cash flows from investing activities | 0 | 18 |
Dividend paid | (2,095) | (1,949) |
Restricted stock units | 159 | 0 |
Net change in short-term borrowings | (70) | 1,270 |
Proceeds from dividend reinvestment and stock purchase plan | 238 | 174 |
Issuance of treasury stock for stock awards | 393 | 309 |
Net cash flows from financing activities | (1,375) | (196) |
Change in cash and cash equivalents | (50) | (150) |
Beginning cash and cash equivalents | 76 | 226 |
Ending cash and cash equivalents | $ 26 | $ 76 |
Note 18 - Earnings Per Share (D
Note 18 - Earnings Per Share (Details Textual) - shares | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 14,800 | |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 9,078 | 7,911 |
Note 18 - Earnings Per Share -
Note 18 - Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Net income available to common shareholders | $ 10,674 | $ 11,192 |
Weighted average common shares outstanding (in shares) | 3,090,187 | 3,039,607 |
Basic income per share (in dollars per share) | $ 3.45 | $ 3.68 |
Dilutive effect of restricted stock (in shares) | 0 | 246 |
Total common shares and dilutive potential common shares (in shares) | 3,090,187 | 3,039,853 |
Dilutive income per share (in dollars per share) | $ 3.45 | $ 3.68 |
Note 19 - Accumulated Other C_3
Note 19 - Accumulated Other Comprehensive Income (Loss) - Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Accumulated other comprehensive income (loss), before tax | $ (27,982) | $ 4,493 | |
Accumulated other comprehensive income (loss), tax | 5,876 | (943) | |
Accumulated other comprehensive income (loss), net | (22,106) | 3,550 | |
Unrealized holding loss on available-for-sale securities arising during the period, before tax | (9,929) | (32,469) | |
Unrealized holding loss on available-for-sale securities arising during the period, tax | 2,085 | 6,818 | |
Unrealized holding loss on available-for-sale securities arising during the period, net | (7,844) | (25,651) | |
Amounts reclassified from accumulated other comprehensive income, before tax | [1],[2] | (14) | (6) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | [1],[2] | 3 | 1 |
Amounts reclassified from accumulated other comprehensive income, net | [1],[2] | (11) | (5) |
Net current period other comprehensive loss, before tax | (9,943) | (32,475) | |
Net current period other comprehensive loss, tax | 2,088 | 6,819 | |
Other comprehensive loss | (7,855) | (25,656) | |
Accumulated other comprehensive income (loss), before tax | (37,925) | (27,982) | |
Accumulated other comprehensive income (loss), tax | 7,964 | 5,876 | |
Accumulated other comprehensive income (loss), net | $ (29,961) | $ (22,106) | |
[1]Income tax expense[2]Securities gain, net |
Note 20 - Revenue Recognition -
Note 20 - Revenue Recognition - Noninterest Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Noninterest income (in scope of Topic 606) | $ 4,139 | $ 3,864 |
Noninterest income | 4,747 | 4,735 |
Deposit Account [Member] | ||
Noninterest income (in scope of Topic 606) | 1,598 | 1,460 |
Debit Card [Member] | ||
Noninterest income (in scope of Topic 606) | 2,181 | 2,069 |
Financial Service, Other [Member] | ||
Noninterest income (in scope of Topic 606) | 360 | 335 |
Product and Service, Out of Scope of ASC 606 [Member] | ||
Noninterest income | $ 608 | $ 871 |