Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Mar. 31, 2022 | May 03, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000910679 | |
Entity Registrant Name | WVS Financial Corp | |
Amendment Flag | false | |
Current Fiscal Year End Date | --06-30 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2022 | |
Document Transition Report | false | |
Entity File Number | 0-22444 | |
Entity Incorporation, State or Country Code | PA | |
Entity Tax Identification Number | 25-1710500 | |
Entity Address, Address Line One | 9001 Perry Highway | |
Entity Address, City or Town | Pittsburgh | |
Entity Address, State or Province | PA | |
Entity Address, Postal Zip Code | 15237 | |
City Area Code | 412 | |
Local Phone Number | 364-1911 | |
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 | |
Entity Shell Company | false | |
Title of 12(b) Security | Common Stock, par value $.01 | |
Trading Symbol | WVFC | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 1,878,056 |
Consolidated Balance Sheet (Cur
Consolidated Balance Sheet (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
ASSETS | ||
Cash and due from banks | $ 2,833 | $ 2,514 |
Interest-earning demand deposits | 490 | 37 |
Total cash and cash equivalents | 3,323 | 2,551 |
Certificates of deposit | 350 | 350 |
Investment securities available-for-sale (amortized cost of $136,126 and $150,886) | 135,287 | 151,577 |
Investment securities held-to-maturity (fair value of $9,545 and $15,592) | 9,954 | 15,489 |
Mortgage-backed securities held-to-maturity (fair value of $125,924 and $82,659) | 129,413 | 82,459 |
Net loans receivable (allowance for loan losses of $513 and $565) | 76,166 | 80,684 |
Accrued interest receivable | 987 | 749 |
Federal Home Loan Bank (FHLB) stock, at cost | 6,793 | 6,044 |
Premises and equipment | 590 | 657 |
Deferred tax assets (net) | 389 | 245 |
Bank owned life insurance | 5,104 | 5,021 |
Other assets | 442 | 252 |
TOTAL ASSETS | 368,798 | 346,078 |
Savings Deposits: | ||
Non-interest-bearing accounts | 27,741 | 25,452 |
NOW accounts | 28,148 | 26,881 |
Savings accounts | 50,293 | 50,058 |
Money market accounts | 24,062 | 22,995 |
Certificates of deposit | 29,972 | 29,731 |
Advance payments by borrowers for taxes and insurance | 1,460 | 2,050 |
Total Savings Deposits | 161,676 | 157,167 |
Federal Home Loan Bank advances: long-term – fixed rate | 5,000 | 10,000 |
Federal Home Loan Bank advances: long-term – variable rate | 0 | 25,000 |
Federal Home Loan Bank advances: short-term | 161,823 | 113,093 |
Total Federal Home Loan Bank advances | 166,823 | 148,093 |
Accrued interest payable | 114 | 155 |
Other liabilities | 2,525 | 2,274 |
TOTAL LIABILITIES | 331,138 | 307,689 |
STOCKHOLDERS' EQUITY | ||
Preferred stock: 5,000,000 authorized, none outstanding | 0 | 0 |
Common stock: 10,000,000 authorized, 3,805,636 shares issued; | 38 | 38 |
Additional paid in capital | 21,618 | 21,596 |
Treasury stock: 1,925,854 and 1,921,522 shares at cost, respectively | (29,185) | (29,119) |
Retained earnings, substantially restricted | 47,603 | 47,186 |
Accumulated other comprehensive (loss) income | (701) | 502 |
Unallocated Employee Stock Ownership Plan (“ESOP”) shares | (1,713) | (1,814) |
TOTAL STOCKHOLDERS’ EQUITY | 37,660 | 38,389 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 368,798 | $ 346,078 |
Consolidated Balance Sheet (C_2
Consolidated Balance Sheet (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Investment securities available-for-sale, amortized cost | $ 136,126 | $ 150,886 |
Investment securities held-to-maturity, fair value | 9,545 | 15,592 |
Mortgage-backed securities held-to-maturity, fair value | 125,924 | 82,659 |
Net loans receivable, allowance for loan losses | $ 513 | $ 565 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares oustanding (in shares) | 0 | 0 |
Common stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, shares issued (in shares) | 3,805,636 | 3,805,636 |
Treasury stock, shares (in shares) | 1,925,854 | 1,921,522 |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
INTEREST AND DIVIDEND INCOME: | ||||
Loans, including fees | $ 700 | $ 753 | $ 2,113 | $ 2,422 |
Investment securities | 334 | 370 | 1,027 | 1,205 |
Mortgage-backed securities | 276 | 149 | 714 | 623 |
Certificates of deposit | 1 | 3 | 5 | 13 |
FHLB Stock | 70 | 38 | 187 | 174 |
Total interest and dividend income | 1,381 | 1,313 | 4,046 | 4,437 |
INTEREST EXPENSE: | ||||
Deposits | 34 | 61 | 106 | 257 |
Federal Home Loan Bank advances – long-term – fixed rate | 38 | 76 | 135 | 269 |
Federal Home Loan Bank advances – long-term – variable rate | 0 | 19 | 35 | 111 |
Federal Home Loan Bank advances – short-term | 93 | 25 | 208 | 85 |
Other short-term borrowings | 0 | 0 | 0 | 1 |
Total interest expense | 165 | 181 | 484 | 723 |
NET INTEREST INCOME | 1,216 | 1,132 | 3,562 | 3,714 |
(CREDIT) PROVISION FOR LOAN LOSSES | (16) | (8) | (52) | (15) |
NET INTEREST INCOME AFTER (CREDIT) PROVISION FOR LOAN LOSSES | 1,232 | 1,140 | 3,614 | 3,729 |
NON-INTEREST INCOME: | ||||
Earnings on Bank Owned Life Insurance | 28 | 28 | 84 | 85 |
Investment securities gains | 0 | 56 | 74 | 93 |
Other than temporary impairment (“OTTI”) losses | 0 | 0 | 0 | (13) |
Portion of loss (gain) recognized in other comprehensive income (before taxes) | 0 | 0 | 0 | 0 |
Net impairment loss recognized in earnings | 0 | 0 | 0 | (13) |
Other | 10 | 11 | 32 | 30 |
Total non-interest income | 96 | 152 | 372 | 367 |
NON-INTEREST EXPENSE: | ||||
Salaries and employee benefits | 548 | 632 | 1,691 | 1,726 |
Occupancy and equipment | 61 | 71 | 225 | 208 |
Data processing | 59 | 60 | 179 | 181 |
Correspondent bank service charges | 10 | 10 | 29 | 29 |
Federal deposit insurance premium | 25 | 8 | 71 | 62 |
ATM Network expense | 20 | 21 | 62 | 64 |
Other | 151 | 134 | 468 | 422 |
Total non-interest expense | 874 | 936 | 2,725 | 2,692 |
INCOME BEFORE INCOME TAXES | 454 | 356 | 1,261 | 1,404 |
INCOME TAX EXPENSE | 116 | 91 | 322 | 363 |
NET INCOME | $ 338 | $ 265 | $ 939 | $ 1,041 |
EARNINGS PER SHARE: | ||||
Basic (in dollars per share) | $ 0.19 | $ 0.15 | $ 0.54 | $ 0.59 |
Diluted (in dollars per share) | $ 0.19 | $ 0.15 | $ 0.54 | $ 0.59 |
AVERAGE SHARES OUTSTANDING: | ||||
Basic (in shares) | 1,741,446 | 1,751,849 | 1,740,117 | 1,749,739 |
Diluted (in shares) | 1,741,446 | 1,751,849 | 1,740,117 | 1,749,739 |
Deposit Account [Member] | ||||
NON-INTEREST INCOME: | ||||
Non-interest revenue | $ 26 | $ 22 | $ 74 | $ 63 |
ATM Fee Income [Member] | ||||
NON-INTEREST INCOME: | ||||
Non-interest revenue | $ 32 | $ 35 | $ 108 | $ 109 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
NET INCOME | $ 338 | $ 265 | $ 939 | $ 1,041 |
Investment securities available for sale not other-than-temporarily impaired: | ||||
(Losses) gains arising during the year | (890) | (19) | (1,454) | 1,358 |
Less: Income tax effect | 188 | 4 | 305 | (285) |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), before Adjustment, after Tax, Total | (702) | (15) | (1,149) | 1,073 |
(Gains) recognized in earnings | 0 | (56) | (74) | (93) |
Less: Income tax effect | 0 | 12 | 15 | 20 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | (44) | (59) | (73) | |
Unrealized holding (losses) gains on investment securities available for sale not other-than-temporarily impaired, net of tax | (702) | (59) | (1,208) | 1,000 |
Investment securities held to maturity other-than-temporarily impaired: | ||||
Total losses | 0 | 0 | 0 | 13 |
Losses recognized in earnings | 0 | 0 | 0 | 13 |
Gains (losses) recognized in comprehensive income | 0 | 0 | 0 | 0 |
Income tax effect | 0 | 0 | 0 | 0 |
Accretion of other comprehensive gain on other-than-temporarily impaired securities held to maturity | 2 | 4 | 6 | 12 |
Less: Income tax effect | (1) | (1) | (1) | (2) |
Unrealized holding gains on other-than-temporarily impaired securities held to maturity, net of tax | 1 | 3 | 5 | 10 |
Other comprehensive (loss) income | (701) | (56) | (1,203) | 1,010 |
COMPREHENSIVE (LOSS) INCOME | (363) | 209 | (264) | 2,051 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||||
Investment securities available for sale not other-than-temporarily impaired: | ||||
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 0 | |||
Investment securities held to maturity other-than-temporarily impaired: | ||||
Other comprehensive (loss) income | $ (702) | $ (59) | $ (1,208) | $ 1,001 |
Consolidated Statement of Chang
Consolidated Statement of Changes In Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Unallocated ESOP Shares [Member] | Total |
Balance at Jun. 30, 2020 | $ 38 | $ 21,577 | $ (28,775) | $ 46,590 | $ (556) | $ (1,961) | $ 36,913 |
Net income | 0 | 0 | 0 | 1,041 | 0 | 0 | 1,041 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | 1,010 | 0 | 1,010 |
Purchase of treasury stock | 0 | 0 | (52) | 0 | 0 | 0 | (52) |
Amortization of unallocated ESOP shares | 0 | 11 | 0 | 0 | 0 | 108 | 119 |
Cash dividends declared | 0 | 0 | 0 | (525) | 0 | 0 | (525) |
Balance at Mar. 31, 2021 | 38 | 21,588 | (28,827) | 47,106 | 454 | (1,853) | 38,506 |
Balance at Dec. 31, 2020 | 38 | 21,581 | (28,827) | 47,016 | 510 | (1,891) | 38,427 |
Net income | 0 | 0 | 0 | 265 | 0 | 0 | 265 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (56) | 0 | (56) |
Amortization of unallocated ESOP shares | 0 | 7 | 0 | 0 | 0 | 38 | 45 |
Cash dividends declared | 0 | 0 | 0 | (175) | 0 | 0 | (175) |
Balance at Mar. 31, 2021 | 38 | 21,588 | (28,827) | 47,106 | 454 | (1,853) | 38,506 |
Balance at Jun. 30, 2021 | 38 | 21,596 | (29,119) | 47,186 | 502 | (1,814) | 38,389 |
Net income | 0 | 0 | 0 | 939 | 0 | 0 | 939 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (1,203) | 0 | (1,203) |
Purchase of treasury stock | 0 | 0 | (66) | 0 | 0 | 0 | (66) |
Amortization of unallocated ESOP shares | 0 | 22 | 0 | 0 | 0 | 101 | 123 |
Cash dividends declared | 0 | 0 | 0 | (522) | 0 | 0 | (522) |
Balance at Mar. 31, 2022 | 38 | 21,618 | (29,185) | 47,603 | (701) | (1,713) | 37,660 |
Balance at Dec. 31, 2021 | 38 | 21,611 | (29,119) | 47,439 | 0 | (1,747) | 38,222 |
Net income | 0 | 0 | 0 | 338 | 0 | 0 | 338 |
Other comprehensive income (loss) | 0 | 0 | 0 | 0 | (701) | 0 | (701) |
Purchase of treasury stock | 0 | 0 | (66) | 0 | 0 | 0 | (66) |
Amortization of unallocated ESOP shares | 0 | 7 | 0 | 0 | 0 | 34 | 41 |
Cash dividends declared | 0 | 0 | 0 | (174) | 0 | 0 | (174) |
Balance at Mar. 31, 2022 | $ 38 | $ 21,618 | $ (29,185) | $ 47,603 | $ (701) | $ (1,713) | $ 37,660 |
Consolidated Statement of Cha_2
Consolidated Statement of Changes In Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Purchase of treasury stock, shares (in shares) | 4,332,000 | 4,332 | 4,014,000 | |
Cash dividends declared, per share (in dollars per share) | $ 0.10 | $ 0.10 | $ 0.30 | $ 0.20 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
OPERATING ACTIVITIES | ||
Net income | $ 939 | $ 1,041 |
Adjustments to reconcile net income to cash (used for) provided by operating activities: | ||
(Credit) Provision for loan losses | (51) | (15) |
Depreciation | 71 | 53 |
Investment securities gains | (74) | (93) |
Net impairment loss recognized in earnings | 0 | 13 |
Amortization of discounts, premiums and deferred loan fees, net | 941 | 208 |
Amortization of unallocated ESOP shares | 123 | 119 |
Deferred income taxes | 177 | 26 |
Increase (decrease) in accrued income taxes | 41 | (280) |
Earnings on bank owned life insurance | (84) | (85) |
Increase in accrued employee benefits | 150 | 770 |
Increase in accrued interest receivable | (238) | (18) |
Decrease in accrued interest payable | (41) | (326) |
Increase in deferred director compensation payable | 40 | 40 |
Other, net | (169) | (782) |
Net cash provided by operating activities | 1,825 | 671 |
INVESTING ACTIVITIES | ||
Purchases of investment securities | (38,698) | (70,843) |
Proceeds from sale of investments | 9,060 | 8,082 |
Proceeds from repayments of investment securities | 43,570 | 60,797 |
Purchase of mortgage-backed securities | (79,236) | (13,163) |
Proceeds from Sale and Maturity of Held-to-Maturity Securities, Total | 5,540 | 750 |
Proceeds from repayments of mortgage-backed securities | 32,314 | 51,835 |
Purchases of certificates of deposit | (100) | (100) |
Maturities/redemptions of certificates of deposit | 100 | 1,590 |
Purchase of loans | (3,722) | (7,950) |
Net decrease in net loans receivable | 8,221 | 12,792 |
Purchase of FHLB stock | (12,680) | (12,058) |
Redemption of FHLB stock | 11,931 | 13,773 |
Acquisition of premises and equipment | (4) | (132) |
Net cash (used for) provided by investing activities | (23,704) | 45,373 |
FINANCING ACTIVITIES | ||
Net increase in transaction and savings accounts | 4,858 | 7,735 |
Net increase (decrease) in certificates of deposit | 241 | (3,280) |
Net decrease in advance payments by borrowers for taxes and insurance | (590) | (576) |
Repayments of Federal Home Loan Bank long-term advances | (30,000) | (65,000) |
Net increase in FHLB short-term advances | 48,730 | 22,934 |
Repayments of other short-term borrowings | 0 | (5,800) |
Purchase of treasury stock | (66) | (52) |
Cash dividends paid | (522) | (525) |
Net cash provided by (used for) financing activities | 22,651 | (44,564) |
Increase in cash and cash equivalents | 772 | 1,480 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD | 2,551 | 2,500 |
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD | 3,323 | 3,980 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Interest on deposits and borrowings | 525 | 1,049 |
Income taxes | $ 95 | $ 653 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 1. BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of WVS Financial Corp. (the Company) and subsidiary have been prepared in accordance with the instructions for Form 10 not three nine March 31, 2022 , are not may The coronavirus (COVID- 19 may may 19 third On March 27, 2020, 19. 19 not not 30 December 31, 2019 March 1, 2020 60 19 January 1, 2022. 19 not January 1, 2022, no |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. RECENT ACCOUNTING PRONOUNCEMENTS In June 2016, 2016 13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments (“ASU 2016 13” 2016 13 December 15, 2019, December 15, 2018. first November 2019, 2019 10, Financial Instruments – Credit Losses (Topic 326 815 842 . This Update defers the effective date of ASU 2016 13 December 15, 2022, one first one In November 2019, 2019 10, 326 815 842 2016 13 December 15, 2022, 2 No. 2017 04, 350 one not not In March 2020, 2020 04, Reference Rate Reform (Topic 848 March 2020 , to provide temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates, such as Secured Overnight Financing Rate. Entities can elect not not one December 31, 2022. In January 2021, 2021 01, Reference Rate Reform (Topic 848 848. 2021 01 848. 2021 01 may March 12, 2020, not December 31, 2022, December 31, 2022, December 31, 2022, not In March 2022, 2022 02, Financial Instruments - Credit Losses (ASC 326 326 326 2016 13 December 15, 2022. not |
Note 3 - Revenue Recognition
Note 3 - Revenue Recognition | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 3. REVENUE RECOGNITION The Company recognizes revenue in accordance with ASC 606, Revenue from contracts with Customers Topic 606 not 606. not |
Note 4 - Earnings Per Share
Note 4 - Earnings Per Share | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 4. EARNINGS PER SHARE The following table sets forth the computation of the weighted-average common shares used to calculate basic and diluted earnings per share. Three Months Ended Nine Months Ended March 31, March 31, 2022 2021 2022 2021 Weighted average common shares outstanding 3,805,636 3,805,636 3,805,636 3,805,636 Average treasury stock shares (1,923,257 ) (1,902,946 ) (1,922,092 ) (1,902,562 ) Average unallocated ESOP shares (140,933 ) (150,841 ) (143,427 ) (153,335 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 1,741,446 1,751,849 1,740,117 1,749,739 Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 1,741,446 1,751,849 1,740,117 1,749,739 There are no The unallocated shares controlled by the ESOP are not |
Note 5 - Investment Securities
Note 5 - Investment Securities | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 5. INVESTMENT SECURITIES The amortized cost, gross unrealized gains and losses, and fair values of investments are as follows: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) March 31, 2022 AVAILABLE FOR SALE U.S. government agency securities $ 3,198 $ - $ (151 ) $ 3,047 Corporate debt securities 98,551 157 (623 ) 98,085 Foreign debt securities1 33,656 44 (226 ) 33,474 Obligations of states and political subdivisions 721 - (40 ) 681 Total $ 136,126 $ 201 $ (1,040 ) $ 135,287 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) March 31, 2022 HELD TO MATURITY U.S. government agency securities $ 7,749 $ - $ (437 ) $ 7,312 Obligations of states and political subdivisions 2,205 28 - 2,233 Total $ 9,954 $ 28 $ (437 ) $ 9,545 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) June 30, 2021 AVAILABLE FOR SALE U.S. government agency securities $ 3,215 $ - $ (1 ) $ 3,214 Corporate debt securities 109,501 546 (7 ) 110,040 Foreign debt securities1 37,440 179 (21 ) 37,598 Obligations of states and political subdivisions 730 - (5 ) 725 Total $ 150,886 $ 725 $ (34 ) $ 151,577 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) June 30, 2021 HELD TO MATURITY U.S. government agency securities $ 12,744 $ 5 $ - $ 12,749 Obligations of states and political subdivisions 2,745 98 - 2,843 Total $ 15,489 $ 103 $ - $ 15,592 1 The Company recorded gross realized investment security gains of $0 and $74 thousand during the three nine March 31, 2022 , respectively. Proceeds from the sales of investment securities totaled $0 and $9.1 million during the same periods. The Company recorded gross realized investment security gains of $56 thousand and $93 thousand during the three nine March 31, 2021 , respectively. Proceeds from the sales of investment securities totaled $1.0 million and $8.1 million during the same periods. The amortized cost and fair values of debt securities at March 31, 2022 , by contractual maturity, are shown below. Expected maturities may may Due in one year or less Due after one through five years Due after five through ten years Due after ten years Total (Dollars in Thousands) AVAILABLE FOR SALE Amortized cost $ 61,935 $ 73,723 $ 468 $ - $ 136,126 Fair value 61,835 73,016 436 - 135,287 HELD TO MATURITY Amortized cost $ 1,185 $ 1,020 $ 7,749 $ - $ 9,954 Fair value 1,198 1,035 7,312 - 9,545 At March 31, 2022 investment securities with amortized costs of $13.2 million and $29.1 million and fair values of $12.6 million and $29.2 million were pledged to secure borrowings with the Federal Home Loan Bank (“FHLB”) of Pittsburgh and the Federal Reserve Bank of Cleveland (“FRB”), respectively. Of the securities pledged to the FHLB, $142.3 million of amortized cost, and $138.0 million of fair value was excess collateral. Of the securities pledged to the FRB, $29.1 million of amortized cost, and $29.2 million of fair value, was excess collateral. Excess collateral is maintained to support future borrowings and may |
Note 6 - Mortgage-backed Securi
Note 6 - Mortgage-backed Securities | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Mortgage Backed Securities [Text Block] | 6. MORTGAGE-BACKED SECURITIES Mortgage-backed securities (“MBS”) include mortgage pass-through certificates (“PCs”) and collateralized mortgage obligations (“CMOs”). With a pass-through security, investors own an undivided interest in the pool of mortgages that collateralize the PCs. Principal and interest is passed through to the investor as it is generated by the mortgages underlying the pool. PCs and CMOs may may The Company’s CMO portfolio is comprised of two not At March 31, 2022 , the Company’s Agency CMOs totaled $129.1 million as compared to $82.1 million at June 30, 2021 . The Company’s Private-Label CMOs totaled $359 thousand at March 31, 2022 as compared to $400 thousand at June 30, 2021 . The $47.0 million increase in the Agency CMO segment of our MBSportfolio was due to purchases of Agency CMOs which totaled $79.2 million, partially offset by repayments totaling $32.3 million. During the three nine March 31, 2022 , the Company received principal payments totaling $25 thousand and $96 thousand on its Private-Label CMOs. At March 31, 2022 and June 30, 2021 , all of the Company’s MBS portfolio was comprised of adjustable or floating rate investments. The Company has no Due to prepayments of the underlying loans, and the prepayment characteristics of the CMO traunches, the actual maturities of the Company’s MBS are expected to be substantially less than the scheduled maturities. The Company retains an independent third three 820, Fair Value Measurements and Disclosures . The valuation does not no no six March 31, 2022 . During the three nine March 31, 2022 , the Company recorded no additional credit impairment charge on its Private-Label CMO portfolio. The Company believes that the data and assumptions used to determine the fair values of its securities are reasonable. The fair value calculations reflect relevant facts and market conditions. Events and conditions occurring after the valuation date could have a material effect on the Private-Label CMO segment’s fair value. The following table sets forth information with respect to the Company’s Private-Label CMO portfolio as of March 31, 2022 two At March 31, 2022 Rating Book Value Fair Value2 Life to Date Impairment Recorded in Earnings Cusip # Security Description S&P Moody’s Fitch (Dollars in Thousands) 126694CP1 CWHL SER 21 A11 NR WR D $ 222 $ 253 $ 271 126694KF4 CWHL SER 24 A15 NR NR D 98 127 181 126694MP0 CWHL SER 26 1A5 NR NR WD 39 42 48 $ 359 $ 422 $ 500 The amortized cost and fair values of the Company’s mortgage-backed securities are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in Thousands) March 31, 2022 HELD TO MATURITY Collateralized mortgage obligations: Agency $ 129,054 $ 144 $ (3,696 ) $ 125,502 Private-label 359 63 - 422 Total $ 129,413 $ 207 $ (3,696 ) $ 125,924 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in Thousands) June 30, 2021 HELD TO MATURITY Collateralized mortgage obligations: Agency $ 82,059 $ 283 $ (140 ) $ 82,202 Private-label 400 57 - 457 Total $ 82,459 $ 340 $ (140 ) $ 82,659 The amortized cost and fair value of the Company’s mortgage-backed securities at March 31, 2022 may may Due in one year or less Due after one through five years Due after five through ten years Due after ten years Total (Dollars in Thousands) HELD TO MATURITY Amortized cost $ - $ 27 $ - $ 129,386 $ 129,413 Fair value - 27 - 125,897 125,924 At March 31, 2022 , mortgage-backed securities with amortized costs of $129.1 million and fair values of $125.5 million were pledged to secure public deposits and borrowings with the FHLB. Of the securities pledged, $13.1 million of fair value was excess collateral. At June 30, 2021 , mortgage-backed securities with anamortized cost of $78.9 million and fair values of $79.0 million, were pledged to secure public deposits and borrowings with the FHLB. Of the securities pledged, $5.0 million of fair value was excess collateral. Excess collateral is maintained to support future borrowings and may 2 third |
Note 7 - Accumulated Other Comp
Note 7 - Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | 7. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables present the changes in accumulated other comprehensive income (loss) by component, for the three nine March 31, 2022 2021 Three Months Ended March 31, 2022 (Dollars in Thousands – net of tax) Unrealized Gains and Losses on Available-for-Sale Securities Unrealized Gains and Losses on Held-to-Maturity Securities Total Beginning Balance – December 31, 2021 $ 40 $ (40 ) $ - Other comprehensive (loss) before reclassifications (702 ) 1 (701 ) Amounts reclassified from accumulated other comprehensive (loss) income - - - Net current-period other comprehensive (loss) income (702 ) 1 (701 ) Ending Balance – March 31, 2022 $ (662 ) $ (39 ) $ (701 ) Nine Months Ended March 31, 2022 (Dollars in Thousands – net of tax) Unrealized Gains and Losses on Available-for-Sale Securities Unrealized Gains and Losses on Held-to-Maturity Securities Total Beginning Balance – June 30, 2021 $ 546 $ (44 ) $ 502 Other comprehensive (loss) before reclassifications (1,149 ) 5 (1,144 ) Amounts reclassified from accumulated other comprehensive (loss) income (59 ) - (59 ) Net current-period other comprehensive (loss) income (1,208 ) 5 (1,203 ) Ending Balance – March 31, 2022 $ (662 ) $ (39 ) $ (701 ) Three Months Ended March 31, 2021 (Dollars in Thousands – net of tax) Unrealized Gains and Losses on Available-for-Sale Securities Unrealized Gains and Losses on Held-to-Maturity Securities Total Beginning Balance – December 31, 2020 $ 561 $ (51 ) $ 510 Other comprehensive (loss) income before reclassifications (15 ) 3 (12 ) Amounts reclassified from accumulated other comprehensive (loss) income (44 ) - (44 ) Net current-period other comprehensive (loss) income (59 ) 3 (56 ) Ending Balance – March 31, 2021 $ 502 $ (48 ) $ 454 Nine Months Ended March 31, 2021 (Dollars in Thousands – net of tax) Unrealized Gains and Losses on Available-for-Sale Securities Unrealized Gains and Losses on Held-to-Maturity Securities Total Beginning Balance – June 30, 2020 $ (499 ) $ (57 ) $ (556 ) Other comprehensive income before reclassifications 1,074 9 1,083 Amounts reclassified from accumulated other comprehensive (loss) income (73 ) - (73 ) Net current-period other comprehensive income 1,001 9 1,010 Ending Balance – March 31, 2021 $ 502 $ (48 ) $ 454 |
Note 8 - Unrealized Losses on S
Note 8 - Unrealized Losses on Securities | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Unrealized Gain (Loss) on Marketable Securities, Cost Method Investments and Other Investments [Text Block] | 8. UNREALIZED LOSSES ON SECURITIES The following tables show the Company’s gross unrealized losses and fair value, aggregated by category and length of time that the individual securities have been in a continuous unrealized loss position, at March 31, 2022 June 30, 2021 March 31, 2022 Less Than Twelve Months Twelve Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (Dollars in Thousands) U.S. government securities $ 10,359 $ (588 ) $ - $ - $ 10,359 $ (588 ) Corporate debt securities 43,529 (623 ) - - 43,529 (623 ) Foreign debt securities3 8,425 (144 ) 4,345 (82 ) 12,770 (226 ) Obligations of states and political subdivisions 436 (32 ) 245 (8 ) 681 (40 ) Collateralized mortgage obligations 114,507 (3,552 ) 5,933 (144 ) 120,440 (3,696 ) Total $ 177,256 $ (4,939 ) $ 10,523 $ (234 ) $ 187,779 $ (5,173 ) June 30, 2021 Less Than Twelve Months Twelve Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (Dollars in Thousands) U.S. government agency securities $ 3,214 $ (1 ) $ - $ - $ 3,214 $ (1 ) Corporate debt securities 17,111 (7 ) - - 17,111 (7 ) Foreign debt securities 3 10,929 (21 ) - - 10,929 (21 ) Obligations of states and political subdivisions 725 (5 ) - - 725 (5 ) Collateralized mortgage obligations 22,810 (42 ) 10,407 (98 ) 33,217 (140 ) Total $ 54,789 $ (76 ) $ 10,407 $ (98 ) $ 65,196 $ (174 ) For debt securities, impairment is considered to be other than temporary if an entity ( 1 2 not 3 not not not not The following table presents a roll-forward of the credit loss component of the amortized cost of mortgage-backed securities that we have written down for OTTI and the credit component of the loss that is recognized in earnings. OTTI recognized in earnings for credit impaired mortgage-backed securities is presented as additions in two first not first Three Months Ended Nine Months Ended March 31, March 31, 2022 2021 2022 2021 (Dollars in Thousands) (Dollars in Thousands) Beginning balance $ 322 $ 324 $ 322 $ 311 Initial credit impairment - - - - Subsequent credit impairment - - - 13 Reductions for amounts recognized in earnings due to intent or requirement to sell - - - - Reductions for securities sold - - - - Reduction for actual realized losses - (2 ) - (2 ) Reduction for increase in cash flows expected to be collected - - - - Ending balance $ 322 $ 322 $ 322 $ 322 3 During the three nine March 31, 2022 , the Company did not three nine March 31, 2022 , the Company accreted back out of othercomprehensive income $2 thousand (net of income tax effect of $1 thousand) and $5 thousand (net of income tax effect of $1 thousand), based on principal repayments on Private-Label CMOs previously identified with OTTI. In the case of its Private-Label residential CMOs that exhibit adverse risk characteristics, the Company employs models to determine the cash flows that it is likely to collect from the securities. These models consider borrower characteristics and the particular attributes of the loans underlying the securities, in conjunction with assumptions about future changes in home prices and interest rates, to predict the likelihood a loan will default and the impact on default frequency, loss severity and remaining credit enhancement. A significant input to these models is the forecast of future housing price changes for the relevant states and metropolitan statistical areas, which are based upon an assessment of the various housing markets. In general, since the ultimate receipt of contractual payments on these securities will depend upon the credit and prepayment performance of the underlying loans and, if needed, the credit enhancements for the senior securities owned by the Company, the Company uses these models to assess whether the credit enhancement associated with each security is sufficient to protect against likely losses of principal and interest on the underlying mortgage loans. The development of the modeling assumptions requires significant judgment. In accordance with ASC Topic 820, third third The Company reviewed the independent third March 31, 2022 OTTI process. Based on the results of this review, the Company deemed the independent third If the Company intends to sell an impaired debt security, or more likely than not not In instances in which the Company determines that a credit loss exists but the Company does not not not 1 2 not Regardless of whether an OTTI is recognized in its entirety in earnings or if the credit portion is recognized in earnings and the noncredit portion is recognized in other comprehensive income (loss), the estimation of fair values has a significant impact on the amount(s) of any impairment that is recorded. The noncredit portion of any OTTI losses on securities classified as available-for-sale is adjusted to fair value with an offsetting adjustment to the carrying value of the security. The fair value adjustment could increase or decrease the carrying value of the security. All of the Company’s Private-Label CMOs were originally, and continue to be classified, as held to maturity. In periods subsequent to the recognition of an OTTI loss, the other-than-temporarily impaired debt security is accounted for as if it had been purchased on the measurement date of the OTTI at an amount equal to the previous amortized cost basis less the credit-related OTTI recognized in earnings. For debt securities for which credit-related OTTI is recognized in earnings, the difference between the new cost basis and the cash flows expected to be collected is accreted into interest income over the remaining life of the security in a prospective manner based on the amount and timing of future estimated cash flows. The Company had investments in 88 March 31, 2022 . Based on its analysis, management has concluded that three |
Note 9 - Loans and Related Allo
Note 9 - Loans and Related Allowance for Loan Losses | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | 9. LOANS AND RELATED ALLOWANCE FOR LOAN LOSSES The following table summarizes the primary segments of the loan portfolio as of March 31, 2022 June 30, 2021 March 31, 2022 June 30, 2021 Total Loans Individually evaluated for impairment Collectively evaluated for impairment Total Loans Individually evaluated for impairment Collectively evaluated for impairment (Dollars in Thousands) First mortgage loans: 1 – 4 family dwellings $ 62,449 $ - $ 62,449 $ 67,410 $ - $ 67,410 Construction 1,914 - 1,914 2,612 - 2,612 Land acquisition & development 516 - 516 666 - 666 Multi-family dwellings 3,342 - 3,342 3,469 - 3,469 Commercial 4,722 - 4,722 3,939 - 3,939 Consumer Loans: Home equity 2,144 - 2,144 1,340 - 1,340 Home equity lines of credit 1,339 - 1,339 1,508 - 1,508 Other 15 - 15 27 - 27 Commercial Loans 30 - 30 - - - $ 76,471 $ - $ 76,471 $ 80,971 $ - $ 80,971 Plus: Deferred loan costs 208 278 Allowance for loan losses (513 ) (565 ) Total $ 76,166 $ 80,684 Impaired loans are loans for which it is probable the Company will not 1 4 not The definition of “impaired loans” is not two may not not Loans that experience insignificant payment delays, which are defined as 90 not As of March 31, 2022 June 30, 2021 Three Months Ended Nine Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 (Dollars in Thousands) Average nonaccrual loans 1 – 4 family dwellings $ - $ - $ - $ - Construction - - - - Land acquisition & development - - - - Commercial real estate - - - - Home equity lines of credit - - - - Total $ - $ - $ - $ - Income that would have been recognized $ - $ - $ - $ - Interest income recognized $ - $ - $ - $ - Interest income foregone $ - $ - $ - $ - The Company’s loan portfolio may may six During the three nine March 31, 2022 2021 When the Company modifies a loan, management evaluates any possible impairment based on the present value of expected future cash flows, discounted at the contractual interest rate of the original loan agreement, except when the sole (remaining) source of repayment for the loan is the operation or liquidation of the collateral. In these cases, management uses the current fair value of the collateral, less selling costs, instead of discounted cash flows. If management determines that the value of the modified loan is less than the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount), impairment is recognized by segment or class of loan, as applicable, through an allowance estimate or a charge-off to the allowance. Segment and class status is determined by the loan’s classification at origination. The allowance for loan losses is established through provisions for loan losses charged against income. Loans deemed to be uncollectible are charged against the allowance account. Subsequent recoveries, if any, are credited to the allowance. The allowance is maintained at a level believed adequate by management to absorb estimated potential loan losses. Management’s determination of the adequacy of the allowance is based on periodic evaluations of the loan portfolio considering past experience, current economic conditions, composition of the loan portfolio and other relevant factors. This evaluation is inherently subjective, as it requires material estimates that may The Federal Deposit Insurance Corporation (“FDIC”), in conjunction with the other federal banking agencies adopted a Revised Interagency Policy Statement on the Allowance for Loan and Lease Losses (“ALLL”). The revised policy statement provides that an institution must maintain an ALLL at a level that is appropriate to cover estimated credit losses on individually evaluated loans determined to be impaired, as well as estimated credit losses inherent in the remainder of the loan and lease portfolio. The banking agencies also revised the policy to ensure consistency with generally accepted accounting principals (“GAAP”). The revised policy statement updates the responsibilities of the board of directors, management, and bank examiners regarding the ALLL, factors to be considered in the estimation of the ALLL, and the objectives and elements of an effective loan review system. Federal regulations require that each insured savings institution classify its assets on a regular basis. In addition, in connection with examinations of insured institutions, federal examiners have authority to identify problem assets and, if appropriate, classify them. There are three one not not not 100% may not The Company’s general policy is to internally classify its assets on a regular basis and establish prudent general valuation allowances that are adequate to absorb losses that have not not 1 0% 5% 2 1.00% 100% 3 50% 100% March 31, 2022 The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of March 31, 2022 June 30, 2021 Current 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days + Past Due Accruing 90 Days + Past Due Non-accrual Total Past Due Total Loans (Dollars in Thousands) March 31, 2022 First mortgage loans: 1 – 4 family dwellings $ 62,449 $ - $ - $ - $ - $ - $ 62,449 Construction 1,914 - - - - - 1,914 Land acquisition & development 516 - - - - - 516 Multi-family dwellings 3,342 - - - - - 3,342 Commercial 4,722 - - - - - 4,722 Consumer Loans: Home equity 2,144 - - - - - 2,144 Home equity lines of credit 1,339 - - - - - 1,339 Other 15 - - - - - 15 Commercial Loans 30 - - - - - 30 $ 76,471 $ - $ - $ - $ - $ - $ 76,471 Deferred loan costs 208 Allowance for loan losses (513 ) Net Loans Receivable $ 76,166 Current 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days + Past Due Accruing 90 Days + Past Due Non-accrual Total Past Due Total Loans (Dollars in Thousands) June 30, 2021 First mortgage loans: 1 – 4 family dwellings $ 67,410 $ - $ - $ - $ - $ - $ 67,410 Construction 2,612 - - - - - 2,612 Land acquisition & development 666 - - - - - 666 Multi-family dwellings 3,469 - - - - - 3,469 Commercial 3,939 - - - - - 3,939 Consumer Loans - Home equity 1,340 - - - - - 1,340 Home equity lines of credit 1,508 - - - - - 1,508 Other 27 - - - - - 27 Commercial Loans - - - - - - - $ 80,971 $ - $ - $ - $ - $ - $ 80,971 Deferred loan costs 278 Allowance for loan losses (565 ) Net Loans Receivable $ 80,684 Credit quality information The following tables represent credit exposure by internally assigned grades for the periods ended March 31, 2022 June 30, 2021 not The Company’s internally assigned grades are as follows: Pass – loans which are protected by the current net worth and paying capacity of the obligor or by the value of the underlying collateral. Special Mention – loans where a potential weakness or risk exists, which could cause a more serious problem if not Substandard – loans that have a well-defined weakness based on objective evidence and can be characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not Doubtful – loans classified as doubtful have all the weaknesses inherent in a substandard loan. In addition, these weaknesses make collection or liquidation in full highly questionable and improbable, based on existing circumstances. Loss – loans classified as loss are considered uncollectible, or of such value that continuance as a loan is not The primary credit quality indicator used by management in the 1 4 90 The following tables present the Company’s internally classified construction, land acquisition and development, multi-family residential, commercial real estate and commercial ( not March 31, 2022 June 30, 2021 March 31, 2022 Construction Land Acquisition & Development Loans Multi-family Residential Commercial Real Estate Commercial (Dollars in Thousands) Pass $ 1,914 $ 516 $ 3,342 $ 4,722 $ 30 Special Mention - - - - - Substandard - - - - - Doubtful - - - - - Ending Balance $ 1,914 $ 516 $ 3,342 $ 4,722 $ 30 June 30, 2021 Construction Land Acquisition & Development Loans Multi-family Residential Commercial Real Estate Commercial (Dollars in Thousands) Pass $ 2,612 $ 666 $ 3,469 $ 3,939 $ - Special Mention - - - - - Substandard - - - - - Doubtful - - - - - Ending Balance $ 2,612 $ 666 $ 3,469 $ 3,939 $ - The following table presents performing and non-performing 1 4 March 31, 2022 June 30, 2021 March 31, 2022 1 – 4 Family Consumer (Dollars in Thousands) Performing $ 62,449 $ 3,498 Non-performing - - Total $ 62,449 $ 3,498 June 30, 2021 1 – 4 Family Consumer (Dollars in Thousands) Performing $ 67,410 $ 2,875 Non-performing - - Total $ 67,410 $ 2,875 The Company determines its allowance for loan losses in accordance with generally accepted accounting principles. The Company uses a systematic methodology as required by Financial Reporting Release No. 28 No. 102 Our methodology used to determine the allocated portion of the allowance is as follows. For groups of homogenous loans, we apply a loss rate to the groups’ aggregate balance. Our group loss rate reflects our historical loss experience. We may not 310. one three 310. 1 2 3 The Company had no March 31, 2022 The allowance for loan losses represents the amount which management estimates is adequate to provide for probable losses inherent in its loan portfolio. The allowance method is used in providing for loan losses. Accordingly, all loan losses are charged to the allowance, and all recoveries are credited to it. The allowance for loan losses is established through a provision for loan losses charged to operations. The provision for loan losses is based on management’s periodic evaluation of individual loans, economic factors, past loan loss experience, changes in the composition and volume of the portfolio, and other relevant factors. The estimates used in determining the adequacy of the allowance for loan losses, including the amounts and timing of future cash flows expected on impaired loans, are particularly susceptible to changes in the near term. The following tables summarize the primary segments of the allowance for loan losses, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of March 31, 2022 2021 three nine March 31, 2022 2021 As of March 31, 2022 First Mortgage Loans 1 – 4 Family Construction Land Acquisition & Development Multi- family Commercial Consumer Loans Commercial Loans Total (Dollars in Thousands) Beginning ALLL Balance at December 31, 2021 $ 342 $ 49 $ 20 $ 21 $ 62 $ 35 $ - $ 529 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provisions (18 ) 15 (6 ) (1 ) (7 ) (1 ) 2 (16 ) Ending ALLL Balance at March 31, 2022 $ 324 $ 64 $ 14 $ 20 $ 55 $ 34 $ 2 $ 513 Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 324 64 14 20 55 34 2 513 $ 324 $ 64 $ 14 $ 20 $ 55 $ 34 $ 2 $ 513 As of March 31, 2022 First Mortgage Loans 1 – 4 Family Construction Land Acquisition & Development Multi- family Commercial Consumer Loans Commercial Loans Total (Dollars in Thousands) Beginning ALLL Balance at June 30, 2021 $ 389 $ 50 $ 11 $ 24 $ 59 $ 32 $ - $ 565 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provisions (65 ) 14 3 (4 ) (4 ) 2 2 (52 ) Ending ALLL Balance at March 31, 2022 $ 324 $ 64 $ 14 $ 20 $ 55 $ 34 $ 2 $ 513 Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 324 64 14 20 55 34 2 513 $ 324 $ 64 $ 14 $ 20 $ 55 $ 34 $ 2 $ 513 As of March 31, 2021 First Mortgage Loans 1 – 4 Family Construction Land Acquisition & Development Multi- family Commercial Consumer Loans Commercial Loans Total (Dollars in Thousands) Beginning ALLL Balance at December 31, 2020 $ 446 $ 34 $ 6 $ 25 $ 62 $ 36 $ 2 $ 611 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provisions (29 ) 22 5 - (1 ) (3 ) (2 ) (8 ) Ending ALLL Balance at March 31, 2021 $ 417 $ 56 $ 11 $ 25 $ 61 $ 33 $ - $ 603 Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 417 56 11 25 61 33 - 603 $ 417 $ 56 $ 11 $ 25 $ 61 $ 33 $ - $ 603 As of March 31, 2021 First Mortgage Loans 1 – 4 Family Construction Land Acquisition & Development Multi- family Commercial Consumer Loans Commercial Loans Total (Dollars in Thousands) Beginning ALLL Balance at June 30, 2020 $ 449 $ 38 $ 6 $ 26 $ 66 $ 32 $ 1 $ 618 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provisions (32 ) 18 5 (1 ) (5 ) 1 (1 ) (15 ) Ending ALLL Balance at March 31, 2021 $ 417 $ 56 $ 11 $ 25 $ 61 $ 33 $ - $ 603 Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 417 56 11 25 61 33 - 603 $ 417 $ 56 $ 11 $ 25 $ 61 $ 33 $ - $ 603 During the three nine March 31, 2022 decreased by $16 thousand and $52 thousand, respectively. The decrease in the ALLL for the three March 31, 2022 19 1 4 The decrease in the ALLL for the nine March 31, 2022 $63 19 19 19 2022, March 31, 2022. |
Note 10 - Federal Home Loan Ban
Note 10 - Federal Home Loan Bank (FHLB) Advances | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | 10. FEDERAL HOME LOAN BANK (FHLB) ADVANCES The following table presents contractual maturities of FHLB long-term advances as of March 31, 2022 June 30, 2021 Maturity range Weighted-average Stated interest rate range March 31, June 30, Description from to interest rate4 from to 2022 2021 (Dollars in Thousands) Fixed 10/1/2021 10/3/2022 3.09 % 2.95 % 3.09 % $ 5,000 $ 10,000 Adjustable 10/1/2021 10/1/2021 N/A 0.29 % 0.36 % - 25,000 Total $ 5,000 $ 35,000 __________________________ 4 March 31, 2022 Maturities of FHLB long-term advances at March 31, 2022 Maturing During Weighted- Fiscal Year Ended Average June 30: Amount Interest Rate5 (Dollars in Thousands) 2022 $ - - 2023 5,000 3.09 % 2024 - - 2025 - - 2026 - - 2026 and thereafter - - Total $ 5,000 3.09 % The Company also utilized revolving and short-term FHLB advances. Short-term FHLB advances generally mature within 90 may March 31, 2022 June 30, 2021 March 31, 2022 June 30, 2021 (Dollars in Thousands) FHLB revolving and short-term advances: Ending balance $ 161,823 $ 113,093 Average balance 65,095 34,715 Maximum month-end balance 161,824 113,093 Average interest rate 0.33 % 0.34 % Weighted-average rate at period end 0.41 % 0.28 % At March 31, 2022 had remaining borrowing capacity with the FHLB of approximately $13.1 million. The FHLB advances are secured by the Company’s FHLB stock, loans, and mortgage-backed and investment securities held in safekeeping at the FHLB. FHLB advances are subject to substantial prepayment penalties. |
Note 11 - Other Short-term Borr
Note 11 - Other Short-term Borrowings | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Short-Term Debt [Text Block] | 11. OTHER SHORT-TERM BORROWINGS The Company periodically utilizes other short-term borrowings comprised of FRB discount window borrowings. FRB discount window borrowings mature within 90 may March 31, 2022 June 30, 2021 FRBC Discount Window Borrowings: March 31, June 30, 2022 2021 (Dollars in Thousands) Ending balance $ - $ - Average balance - 456 Maximum month-end balance - 5,875 Average interest rate - % 0.25 % Weighted-average rate at period end - % - % At March 31, 2022 $27.6 5 March 31, 2022 |
Note 12 - Fair Value Measuremen
Note 12 - Fair Value Measurements | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | 12. FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for an asset or liability in an orderly transaction between market participants at the measurement date. GAAP established a fair value hierarchy that prioritizes the use of inputs used in valuation methodologies into the following three Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair-valued using other financial instruments, the parameters of which can be directly observed. Level III: Assets and liabilities that have little to no not two Assets Measured at Fair Value on a Recurring Basis Investment Securities Available-for-Sale Fair values for securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges or matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities. The Company has no The following tables present the assets reported on a recurring basis on the Consolidated Balance Sheet at their fair value as of March 31, 2022 June 30, 2021 March 31, 2022 Level I Level II Level III Total (Dollars in Thousands) Assets measured on a recurring basis: Investment securities – available for sale: U.S. government agency securities $ - $ 3,047 $ - $ 3,047 Corporate debt securities - 98,085 - 98,085 Foreign debt securities 6 - 33,474 - 33,474 Obligations of states and political subdivisions - 681 - 681 $ - $ 135,287 $ - $ 135,287 6 June 30, 2021 Level I Level II Level III Total (Dollars in Thousands) Assets measured on a recurring basis: Investment securities – available for sale: U.S. government agency securities $ - $ 3,214 $ - $ 3,214 Corporate securities - 110,040 - 110,040 Foreign debt securities 7 - 37,598 - 37,598 Obligations of states and political subdivisions - 725 - 725 $ - $ 151,577 $ - $ 151,577 |
Note 13 - Fair Value of Financi
Note 13 - Fair Value of Financial Instruments | 9 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 13. FAIR VALUE OF FINANCIAL INSTRUMENTS The carrying amounts and estimated fair values of financial instruments are as follows: March 31, 2022 Carrying Amount Fair Value Level I Level II Level III (Dollars in Thousands) FINANCIAL ASSETS Cash and cash equivalents $ 3,323 $ 3,323 $ 3,323 $ - $ - Certificates of deposit 350 350 350 - - Investment securities – held to maturity 9,954 9,545 - 9,545 - Mortgage-backed securities – held to maturity: Agency 129,054 125,502 - 125,502 - Private-label 359 422 - - 422 Net loans receivable 76,166 75,035 - - 75,035 Accrued interest receivable 987 987 987 - - FHLB stock 6,793 6,793 6,793 - - Bank owned life insurance 5,104 5,104 5,104 - - FINANCIAL LIABILITIES Deposits: Non-interest bearing deposits $ 27,741 $ 27,741 $ 27,741 $ - $ - Interest-earning checking 28,148 28,148 28,148 - - Savings accounts 50,293 50,293 50,293 - - Money market accounts 24,062 24,062 24,062 - - Certificates of deposit 29,972 29,856 - - 29,856 Advance payments by borrowers for taxes and insurance 1,460 1,460 1,460 - - FHLB advances – fixed rate 5,000 5,016 - - 5,016 FHLB advances – variable rate - - - - - FHLB short-term advances 161,823 161,823 161,823 - - Accrued interest payable 114 114 114 - - 7 June 30, 2021 Carrying Fair Value Level I Level II Level III (Dollars in Thousands) FINANCIAL ASSETS Cash and cash equivalents $ 2,551 $ 2,551 $ 2,551 $ - $ - Certificates of deposit 350 350 350 - - Investment securities – held to maturity 15,489 15,592 - 15,592 - Mortgage-backed securities – held to maturity: Agency 82,059 82,202 - 82,202 - Private-label 400 457 - - 457 Net loans receivable 80,684 82,930 - - 82,930 Accrued interest receivable 749 749 749 - - FHLB stock 6,044 6,044 6,044 - - Bank owned life insurance 5,021 5,021 5,021 - - FINANCIAL LIABILITIES Deposits: Non-interest bearing deposits $ 25,452 $ 25,452 $ 25,452 $ - $ - Interest-earning checking 26,881 26,881 26,881 - - Savings accounts 50,058 50,058 50,058 - - Money market accounts 22,995 22,995 22,995 - - Certificates of deposit 29,731 29,763 - - 29,763 Advance payments by borrowers for taxes and insurance 2,050 2,050 2,050 - - FHLB advances – fixed rate 10,000 9,763 - - 9,763 FHLB advances – variable rate 25,000 25,000 25,000 - - FHLB short-term advances 113,093 113,093 113,093 - - Accrued interest payable 155 155 155 - - All financial instruments included in the above tables, with the exception of net loans receivable, certificates of deposit liabilities, and FHLB advances – fixed rate, are carried at cost, which approximates the fair value of the instruments. |
Note 4 - Earnings Per Share (Ta
Note 4 - Earnings Per Share (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended March 31, March 31, 2022 2021 2022 2021 Weighted average common shares outstanding 3,805,636 3,805,636 3,805,636 3,805,636 Average treasury stock shares (1,923,257 ) (1,902,946 ) (1,922,092 ) (1,902,562 ) Average unallocated ESOP shares (140,933 ) (150,841 ) (143,427 ) (153,335 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 1,741,446 1,751,849 1,740,117 1,749,739 Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 1,741,446 1,751,849 1,740,117 1,749,739 |
Note 5 - Investment Securities
Note 5 - Investment Securities (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Debt Securities Available for Sale and Held to Maturity [Table Text Block] | Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) March 31, 2022 AVAILABLE FOR SALE U.S. government agency securities $ 3,198 $ - $ (151 ) $ 3,047 Corporate debt securities 98,551 157 (623 ) 98,085 Foreign debt securities1 33,656 44 (226 ) 33,474 Obligations of states and political subdivisions 721 - (40 ) 681 Total $ 136,126 $ 201 $ (1,040 ) $ 135,287 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) March 31, 2022 HELD TO MATURITY U.S. government agency securities $ 7,749 $ - $ (437 ) $ 7,312 Obligations of states and political subdivisions 2,205 28 - 2,233 Total $ 9,954 $ 28 $ (437 ) $ 9,545 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) June 30, 2021 AVAILABLE FOR SALE U.S. government agency securities $ 3,215 $ - $ (1 ) $ 3,214 Corporate debt securities 109,501 546 (7 ) 110,040 Foreign debt securities1 37,440 179 (21 ) 37,598 Obligations of states and political subdivisions 730 - (5 ) 725 Total $ 150,886 $ 725 $ (34 ) $ 151,577 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) June 30, 2021 HELD TO MATURITY U.S. government agency securities $ 12,744 $ 5 $ - $ 12,749 Obligations of states and political subdivisions 2,745 98 - 2,843 Total $ 15,489 $ 103 $ - $ 15,592 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Due in one year or less Due after one through five years Due after five through ten years Due after ten years Total (Dollars in Thousands) AVAILABLE FOR SALE Amortized cost $ 61,935 $ 73,723 $ 468 $ - $ 136,126 Fair value 61,835 73,016 436 - 135,287 HELD TO MATURITY Amortized cost $ 1,185 $ 1,020 $ 7,749 $ - $ 9,954 Fair value 1,198 1,035 7,312 - 9,545 |
Note 6 - Mortgage-backed Secu_2
Note 6 - Mortgage-backed Securities (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Company's Private Label Collateralized Mortgage Obligations [Table Text Block] | At March 31, 2022 Rating Book Value Fair Value2 Life to Date Impairment Recorded in Earnings Cusip # Security Description S&P Moody’s Fitch (Dollars in Thousands) 126694CP1 CWHL SER 21 A11 NR WR D $ 222 $ 253 $ 271 126694KF4 CWHL SER 24 A15 NR NR D 98 127 181 126694MP0 CWHL SER 26 1A5 NR NR WD 39 42 48 $ 359 $ 422 $ 500 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Due in one year or less Due after one through five years Due after five through ten years Due after ten years Total (Dollars in Thousands) AVAILABLE FOR SALE Amortized cost $ 61,935 $ 73,723 $ 468 $ - $ 136,126 Fair value 61,835 73,016 436 - 135,287 HELD TO MATURITY Amortized cost $ 1,185 $ 1,020 $ 7,749 $ - $ 9,954 Fair value 1,198 1,035 7,312 - 9,545 |
Collateralized Mortgage-Backed Securities [Member] | |
Notes Tables | |
Debt Securities, Held-to-Maturity [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in Thousands) March 31, 2022 HELD TO MATURITY Collateralized mortgage obligations: Agency $ 129,054 $ 144 $ (3,696 ) $ 125,502 Private-label 359 63 - 422 Total $ 129,413 $ 207 $ (3,696 ) $ 125,924 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Dollars in Thousands) June 30, 2021 HELD TO MATURITY Collateralized mortgage obligations: Agency $ 82,059 $ 283 $ (140 ) $ 82,202 Private-label 400 57 - 457 Total $ 82,459 $ 340 $ (140 ) $ 82,659 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Due in one year or less Due after one through five years Due after five through ten years Due after ten years Total (Dollars in Thousands) HELD TO MATURITY Amortized cost $ - $ 27 $ - $ 129,386 $ 129,413 Fair value - 27 - 125,897 125,924 |
Note 7 - Accumulated Other Co_2
Note 7 - Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Three Months Ended March 31, 2022 (Dollars in Thousands – net of tax) Unrealized Gains and Losses on Available-for-Sale Securities Unrealized Gains and Losses on Held-to-Maturity Securities Total Beginning Balance – December 31, 2021 $ 40 $ (40 ) $ - Other comprehensive (loss) before reclassifications (702 ) 1 (701 ) Amounts reclassified from accumulated other comprehensive (loss) income - - - Net current-period other comprehensive (loss) income (702 ) 1 (701 ) Ending Balance – March 31, 2022 $ (662 ) $ (39 ) $ (701 ) Nine Months Ended March 31, 2022 (Dollars in Thousands – net of tax) Unrealized Gains and Losses on Available-for-Sale Securities Unrealized Gains and Losses on Held-to-Maturity Securities Total Beginning Balance – June 30, 2021 $ 546 $ (44 ) $ 502 Other comprehensive (loss) before reclassifications (1,149 ) 5 (1,144 ) Amounts reclassified from accumulated other comprehensive (loss) income (59 ) - (59 ) Net current-period other comprehensive (loss) income (1,208 ) 5 (1,203 ) Ending Balance – March 31, 2022 $ (662 ) $ (39 ) $ (701 ) Three Months Ended March 31, 2021 (Dollars in Thousands – net of tax) Unrealized Gains and Losses on Available-for-Sale Securities Unrealized Gains and Losses on Held-to-Maturity Securities Total Beginning Balance – December 31, 2020 $ 561 $ (51 ) $ 510 Other comprehensive (loss) income before reclassifications (15 ) 3 (12 ) Amounts reclassified from accumulated other comprehensive (loss) income (44 ) - (44 ) Net current-period other comprehensive (loss) income (59 ) 3 (56 ) Ending Balance – March 31, 2021 $ 502 $ (48 ) $ 454 Nine Months Ended March 31, 2021 (Dollars in Thousands – net of tax) Unrealized Gains and Losses on Available-for-Sale Securities Unrealized Gains and Losses on Held-to-Maturity Securities Total Beginning Balance – June 30, 2020 $ (499 ) $ (57 ) $ (556 ) Other comprehensive income before reclassifications 1,074 9 1,083 Amounts reclassified from accumulated other comprehensive (loss) income (73 ) - (73 ) Net current-period other comprehensive income 1,001 9 1,010 Ending Balance – March 31, 2021 $ 502 $ (48 ) $ 454 |
Note 8 - Unrealized Losses on_2
Note 8 - Unrealized Losses on Securities (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Unrealized Loss on Investments [Table Text Block] | March 31, 2022 Less Than Twelve Months Twelve Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (Dollars in Thousands) U.S. government securities $ 10,359 $ (588 ) $ - $ - $ 10,359 $ (588 ) Corporate debt securities 43,529 (623 ) - - 43,529 (623 ) Foreign debt securities3 8,425 (144 ) 4,345 (82 ) 12,770 (226 ) Obligations of states and political subdivisions 436 (32 ) 245 (8 ) 681 (40 ) Collateralized mortgage obligations 114,507 (3,552 ) 5,933 (144 ) 120,440 (3,696 ) Total $ 177,256 $ (4,939 ) $ 10,523 $ (234 ) $ 187,779 $ (5,173 ) June 30, 2021 Less Than Twelve Months Twelve Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses (Dollars in Thousands) U.S. government agency securities $ 3,214 $ (1 ) $ - $ - $ 3,214 $ (1 ) Corporate debt securities 17,111 (7 ) - - 17,111 (7 ) Foreign debt securities 3 10,929 (21 ) - - 10,929 (21 ) Obligations of states and political subdivisions 725 (5 ) - - 725 (5 ) Collateralized mortgage obligations 22,810 (42 ) 10,407 (98 ) 33,217 (140 ) Total $ 54,789 $ (76 ) $ 10,407 $ (98 ) $ 65,196 $ (174 ) |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Table Text Block] | Three Months Ended Nine Months Ended March 31, March 31, 2022 2021 2022 2021 (Dollars in Thousands) (Dollars in Thousands) Beginning balance $ 322 $ 324 $ 322 $ 311 Initial credit impairment - - - - Subsequent credit impairment - - - 13 Reductions for amounts recognized in earnings due to intent or requirement to sell - - - - Reductions for securities sold - - - - Reduction for actual realized losses - (2 ) - (2 ) Reduction for increase in cash flows expected to be collected - - - - Ending balance $ 322 $ 322 $ 322 $ 322 |
Note 9 - Loans and Related Al_2
Note 9 - Loans and Related Allowance for Loan Losses (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | March 31, 2022 June 30, 2021 Total Loans Individually evaluated for impairment Collectively evaluated for impairment Total Loans Individually evaluated for impairment Collectively evaluated for impairment (Dollars in Thousands) First mortgage loans: 1 – 4 family dwellings $ 62,449 $ - $ 62,449 $ 67,410 $ - $ 67,410 Construction 1,914 - 1,914 2,612 - 2,612 Land acquisition & development 516 - 516 666 - 666 Multi-family dwellings 3,342 - 3,342 3,469 - 3,469 Commercial 4,722 - 4,722 3,939 - 3,939 Consumer Loans: Home equity 2,144 - 2,144 1,340 - 1,340 Home equity lines of credit 1,339 - 1,339 1,508 - 1,508 Other 15 - 15 27 - 27 Commercial Loans 30 - 30 - - - $ 76,471 $ - $ 76,471 $ 80,971 $ - $ 80,971 Plus: Deferred loan costs 208 278 Allowance for loan losses (513 ) (565 ) Total $ 76,166 $ 80,684 |
Financing Receivable, Nonaccrual [Table Text Block] | Three Months Ended Nine Months Ended March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021 (Dollars in Thousands) Average nonaccrual loans 1 – 4 family dwellings $ - $ - $ - $ - Construction - - - - Land acquisition & development - - - - Commercial real estate - - - - Home equity lines of credit - - - - Total $ - $ - $ - $ - Income that would have been recognized $ - $ - $ - $ - Interest income recognized $ - $ - $ - $ - Interest income foregone $ - $ - $ - $ - |
Financing Receivable, Past Due [Table Text Block] | Current 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days + Past Due Accruing 90 Days + Past Due Non-accrual Total Past Due Total Loans (Dollars in Thousands) March 31, 2022 First mortgage loans: 1 – 4 family dwellings $ 62,449 $ - $ - $ - $ - $ - $ 62,449 Construction 1,914 - - - - - 1,914 Land acquisition & development 516 - - - - - 516 Multi-family dwellings 3,342 - - - - - 3,342 Commercial 4,722 - - - - - 4,722 Consumer Loans: Home equity 2,144 - - - - - 2,144 Home equity lines of credit 1,339 - - - - - 1,339 Other 15 - - - - - 15 Commercial Loans 30 - - - - - 30 $ 76,471 $ - $ - $ - $ - $ - $ 76,471 Deferred loan costs 208 Allowance for loan losses (513 ) Net Loans Receivable $ 76,166 Current 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days + Past Due Accruing 90 Days + Past Due Non-accrual Total Past Due Total Loans (Dollars in Thousands) June 30, 2021 First mortgage loans: 1 – 4 family dwellings $ 67,410 $ - $ - $ - $ - $ - $ 67,410 Construction 2,612 - - - - - 2,612 Land acquisition & development 666 - - - - - 666 Multi-family dwellings 3,469 - - - - - 3,469 Commercial 3,939 - - - - - 3,939 Consumer Loans - Home equity 1,340 - - - - - 1,340 Home equity lines of credit 1,508 - - - - - 1,508 Other 27 - - - - - 27 Commercial Loans - - - - - - - $ 80,971 $ - $ - $ - $ - $ - $ 80,971 Deferred loan costs 278 Allowance for loan losses (565 ) Net Loans Receivable $ 80,684 |
Financing Receivable Credit Quality Indicators [Table Text Block] | March 31, 2022 Construction Land Acquisition & Development Loans Multi-family Residential Commercial Real Estate Commercial (Dollars in Thousands) Pass $ 1,914 $ 516 $ 3,342 $ 4,722 $ 30 Special Mention - - - - - Substandard - - - - - Doubtful - - - - - Ending Balance $ 1,914 $ 516 $ 3,342 $ 4,722 $ 30 June 30, 2021 Construction Land Acquisition & Development Loans Multi-family Residential Commercial Real Estate Commercial (Dollars in Thousands) Pass $ 2,612 $ 666 $ 3,469 $ 3,939 $ - Special Mention - - - - - Substandard - - - - - Doubtful - - - - - Ending Balance $ 2,612 $ 666 $ 3,469 $ 3,939 $ - |
Schedule of Participating Mortgage Loans [Table Text Block] | March 31, 2022 1 – 4 Family Consumer (Dollars in Thousands) Performing $ 62,449 $ 3,498 Non-performing - - Total $ 62,449 $ 3,498 June 30, 2021 1 – 4 Family Consumer (Dollars in Thousands) Performing $ 67,410 $ 2,875 Non-performing - - Total $ 67,410 $ 2,875 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | As of March 31, 2022 First Mortgage Loans 1 – 4 Family Construction Land Acquisition & Development Multi- family Commercial Consumer Loans Commercial Loans Total (Dollars in Thousands) Beginning ALLL Balance at December 31, 2021 $ 342 $ 49 $ 20 $ 21 $ 62 $ 35 $ - $ 529 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provisions (18 ) 15 (6 ) (1 ) (7 ) (1 ) 2 (16 ) Ending ALLL Balance at March 31, 2022 $ 324 $ 64 $ 14 $ 20 $ 55 $ 34 $ 2 $ 513 Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 324 64 14 20 55 34 2 513 $ 324 $ 64 $ 14 $ 20 $ 55 $ 34 $ 2 $ 513 As of March 31, 2022 First Mortgage Loans 1 – 4 Family Construction Land Acquisition & Development Multi- family Commercial Consumer Loans Commercial Loans Total (Dollars in Thousands) Beginning ALLL Balance at June 30, 2021 $ 389 $ 50 $ 11 $ 24 $ 59 $ 32 $ - $ 565 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provisions (65 ) 14 3 (4 ) (4 ) 2 2 (52 ) Ending ALLL Balance at March 31, 2022 $ 324 $ 64 $ 14 $ 20 $ 55 $ 34 $ 2 $ 513 Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 324 64 14 20 55 34 2 513 $ 324 $ 64 $ 14 $ 20 $ 55 $ 34 $ 2 $ 513 As of March 31, 2021 First Mortgage Loans 1 – 4 Family Construction Land Acquisition & Development Multi- family Commercial Consumer Loans Commercial Loans Total (Dollars in Thousands) Beginning ALLL Balance at December 31, 2020 $ 446 $ 34 $ 6 $ 25 $ 62 $ 36 $ 2 $ 611 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provisions (29 ) 22 5 - (1 ) (3 ) (2 ) (8 ) Ending ALLL Balance at March 31, 2021 $ 417 $ 56 $ 11 $ 25 $ 61 $ 33 $ - $ 603 Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 417 56 11 25 61 33 - 603 $ 417 $ 56 $ 11 $ 25 $ 61 $ 33 $ - $ 603 As of March 31, 2021 First Mortgage Loans 1 – 4 Family Construction Land Acquisition & Development Multi- family Commercial Consumer Loans Commercial Loans Total (Dollars in Thousands) Beginning ALLL Balance at June 30, 2020 $ 449 $ 38 $ 6 $ 26 $ 66 $ 32 $ 1 $ 618 Charge-offs - - - - - - - - Recoveries - - - - - - - - Provisions (32 ) 18 5 (1 ) (5 ) 1 (1 ) (15 ) Ending ALLL Balance at March 31, 2021 $ 417 $ 56 $ 11 $ 25 $ 61 $ 33 $ - $ 603 Individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - $ - Collectively evaluated for impairment 417 56 11 25 61 33 - 603 $ 417 $ 56 $ 11 $ 25 $ 61 $ 33 $ - $ 603 |
Note 10 - Federal Home Loan B_2
Note 10 - Federal Home Loan Bank (FHLB) Advances (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Federal Home Loan Bank, Advances [Table Text Block] | Maturity range Weighted-average Stated interest rate range March 31, June 30, Description from to interest rate4 from to 2022 2021 (Dollars in Thousands) Fixed 10/1/2021 10/3/2022 3.09 % 2.95 % 3.09 % $ 5,000 $ 10,000 Adjustable 10/1/2021 10/1/2021 N/A 0.29 % 0.36 % - 25,000 Total $ 5,000 $ 35,000 |
Maturities of Federal Home Loan Bank Long Term Advances [Table Text Block] | Maturing During Weighted- Fiscal Year Ended Average June 30: Amount Interest Rate5 (Dollars in Thousands) 2022 $ - - 2023 5,000 3.09 % 2024 - - 2025 - - 2026 - - 2026 and thereafter - - Total $ 5,000 3.09 % |
Schedule of Federal Home Loan Bank Short Term Advances [Table Text Block] | March 31, 2022 June 30, 2021 (Dollars in Thousands) FHLB revolving and short-term advances: Ending balance $ 161,823 $ 113,093 Average balance 65,095 34,715 Maximum month-end balance 161,824 113,093 Average interest rate 0.33 % 0.34 % Weighted-average rate at period end 0.41 % 0.28 % |
Note 11 - Other Short-term Bo_2
Note 11 - Other Short-term Borrowings (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Short-Term Debt [Table Text Block] | March 31, June 30, 2022 2021 (Dollars in Thousands) Ending balance $ - $ - Average balance - 456 Maximum month-end balance - 5,875 Average interest rate - % 0.25 % Weighted-average rate at period end - % - % |
Note 12 - Fair Value Measurem_2
Note 12 - Fair Value Measurements (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | March 31, 2022 Level I Level II Level III Total (Dollars in Thousands) Assets measured on a recurring basis: Investment securities – available for sale: U.S. government agency securities $ - $ 3,047 $ - $ 3,047 Corporate debt securities - 98,085 - 98,085 Foreign debt securities 6 - 33,474 - 33,474 Obligations of states and political subdivisions - 681 - 681 $ - $ 135,287 $ - $ 135,287 June 30, 2021 Level I Level II Level III Total (Dollars in Thousands) Assets measured on a recurring basis: Investment securities – available for sale: U.S. government agency securities $ - $ 3,214 $ - $ 3,214 Corporate securities - 110,040 - 110,040 Foreign debt securities 7 - 37,598 - 37,598 Obligations of states and political subdivisions - 725 - 725 $ - $ 151,577 $ - $ 151,577 |
Note 13 - Fair Value of Finan_2
Note 13 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | March 31, 2022 Carrying Amount Fair Value Level I Level II Level III (Dollars in Thousands) FINANCIAL ASSETS Cash and cash equivalents $ 3,323 $ 3,323 $ 3,323 $ - $ - Certificates of deposit 350 350 350 - - Investment securities – held to maturity 9,954 9,545 - 9,545 - Mortgage-backed securities – held to maturity: Agency 129,054 125,502 - 125,502 - Private-label 359 422 - - 422 Net loans receivable 76,166 75,035 - - 75,035 Accrued interest receivable 987 987 987 - - FHLB stock 6,793 6,793 6,793 - - Bank owned life insurance 5,104 5,104 5,104 - - FINANCIAL LIABILITIES Deposits: Non-interest bearing deposits $ 27,741 $ 27,741 $ 27,741 $ - $ - Interest-earning checking 28,148 28,148 28,148 - - Savings accounts 50,293 50,293 50,293 - - Money market accounts 24,062 24,062 24,062 - - Certificates of deposit 29,972 29,856 - - 29,856 Advance payments by borrowers for taxes and insurance 1,460 1,460 1,460 - - FHLB advances – fixed rate 5,000 5,016 - - 5,016 FHLB advances – variable rate - - - - - FHLB short-term advances 161,823 161,823 161,823 - - Accrued interest payable 114 114 114 - - June 30, 2021 Carrying Fair Value Level I Level II Level III (Dollars in Thousands) FINANCIAL ASSETS Cash and cash equivalents $ 2,551 $ 2,551 $ 2,551 $ - $ - Certificates of deposit 350 350 350 - - Investment securities – held to maturity 15,489 15,592 - 15,592 - Mortgage-backed securities – held to maturity: Agency 82,059 82,202 - 82,202 - Private-label 400 457 - - 457 Net loans receivable 80,684 82,930 - - 82,930 Accrued interest receivable 749 749 749 - - FHLB stock 6,044 6,044 6,044 - - Bank owned life insurance 5,021 5,021 5,021 - - FINANCIAL LIABILITIES Deposits: Non-interest bearing deposits $ 25,452 $ 25,452 $ 25,452 $ - $ - Interest-earning checking 26,881 26,881 26,881 - - Savings accounts 50,058 50,058 50,058 - - Money market accounts 22,995 22,995 22,995 - - Certificates of deposit 29,731 29,763 - - 29,763 Advance payments by borrowers for taxes and insurance 2,050 2,050 2,050 - - FHLB advances – fixed rate 10,000 9,763 - - 9,763 FHLB advances – variable rate 25,000 25,000 25,000 - - FHLB short-term advances 113,093 113,093 113,093 - - Accrued interest payable 155 155 155 - - |
Note 4 - Earnings Per Share - S
Note 4 - Earnings Per Share - Schedule of Basic and Diluted Earnings per Share (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Weighted average common shares outstanding (in shares) | 3,805,636 | 3,805,636 | 3,805,636 | 3,805,636 |
Average treasury stock shares (in shares) | (1,923,257) | (1,902,946) | (1,922,092) | (1,902,562) |
Average unallocated ESOP shares (in shares) | (140,933) | (150,841) | (143,427) | (153,335) |
Weighted average common shares and common stock equivalents used to calculate basic earnings per share (in shares) | 1,741,446 | 1,751,849 | 1,740,117 | 1,749,739 |
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share (in shares) | 1,741,446 | 1,751,849 | 1,740,117 | 1,749,739 |
Note 5 - Investment Securitie_2
Note 5 - Investment Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Marketable Securities, Realized Gain (Loss), Excluding Other than Temporary Impairments, Total | $ 0 | $ 56 | $ 74 | $ 93 |
Proceeds from Sale of Other Investments | 0 | $ 1,000 | 9,100 | $ 8,100 |
Federal Home Loan Bank Borrowings [Member] | ||||
Investment Securities Pledged as Collateral, Excess Collateral | 142,300 | 142,300 | ||
Investment Securities Pledged as Collateral, Excess Collateral, Fair Value | 138,000 | 138,000 | ||
Federal Home Loan Bank Borrowings [Member] | Asset Pledged as Collateral [Member] | ||||
Debt Securities, Total | 12,600 | 12,600 | ||
Federal Home Loan Bank Borrowings [Member] | Asset Pledged as Collateral [Member] | Federal Home Loan Bank Advances [Member] | ||||
Marketable Securities, Total | 13,200 | 13,200 | ||
Federal Reserve Bank of Cleveland Borrowings [Member] | ||||
Investment Securities Pledged as Collateral, Excess Collateral | 29,100 | 29,100 | ||
Investment Securities Pledged as Collateral, Excess Collateral, Fair Value | 29,200 | 29,200 | ||
Federal Reserve Bank of Cleveland Borrowings [Member] | Asset Pledged as Collateral [Member] | ||||
Debt Securities, Total | 29,200 | 29,200 | ||
Federal Reserve Bank of Cleveland Borrowings [Member] | Asset Pledged as Collateral [Member] | Federal Home Loan Bank Advances [Member] | ||||
Marketable Securities, Total | $ 29,100 | $ 29,100 |
Note 5 - Investment Securitie_3
Note 5 - Investment Securities - Schedule of Amortized Cost and Fair Values of Investments (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 | |
Investment securities available-for-sale, amortized cost | $ 136,126 | $ 150,886 | |
Gross Unrealized Gains | 201 | 725 | |
Gross Unrealized Losses | (1,040) | (34) | |
Investment securities available-for-sale (amortized cost of $136,126 and $150,886) | 135,287 | 151,577 | |
Investment securities - held to maturity | 9,954 | 15,489 | |
Gross Unrealized Gains | 28 | 103 | |
Gross Unrealized Losses | (437) | 0 | |
Fair Value | 9,545 | 15,592 | |
US Government Corporations and Agencies Securities [Member] | |||
Investment securities available-for-sale, amortized cost | 3,198 | 3,215 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | (151) | (1) | |
Investment securities available-for-sale (amortized cost of $136,126 and $150,886) | 3,047 | 3,214 | |
Investment securities - held to maturity | 7,749 | 12,744 | |
Gross Unrealized Gains | 0 | 5 | |
Gross Unrealized Losses | (437) | 0 | |
Fair Value | 7,312 | 12,749 | |
Corporate Debt Securities [Member] | |||
Investment securities available-for-sale, amortized cost | 98,551 | 109,501 | |
Gross Unrealized Gains | 157 | 546 | |
Gross Unrealized Losses | (623) | (7) | |
Investment securities available-for-sale (amortized cost of $136,126 and $150,886) | 98,085 | 110,040 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Investment securities available-for-sale, amortized cost | 721 | 730 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | (40) | (5) | |
Investment securities available-for-sale (amortized cost of $136,126 and $150,886) | 681 | 725 | |
Investment securities - held to maturity | 2,205 | 2,745 | |
Gross Unrealized Gains | 28 | 98 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 2,233 | 2,843 | |
Debt Security, Corporate, Non-US [Member] | |||
Investment securities available-for-sale, amortized cost | [1] | 33,656 | 37,440 |
Gross Unrealized Gains | [1] | 44 | 179 |
Gross Unrealized Losses | [1] | (226) | (21) |
Investment securities available-for-sale (amortized cost of $136,126 and $150,886) | [1] | $ 33,474 | $ 37,598 |
[1] | U.S. dollar denominated investment-grade corporate bonds of large foreign corporate issuers. |
Note 5 - Investment Securitie_4
Note 5 - Investment Securities - Schedule of Investments By Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Due in one year or less, available for sale, amortized cost | $ 61,935 | |
Due after one through five years, available for sale, amortized cost | 73,723 | |
Due after five through ten years, available for sale, amortized cost | 468 | |
Due after ten years, available for sale, amortized cost | 0 | |
Investment securities available-for-sale, amortized cost | 136,126 | $ 150,886 |
Due in one year or less, available for sale, fair value | 61,835 | |
Due after one through five years, available for sale, fair value | 73,016 | |
Due after five through ten years, available for sale, fair value | 436 | |
Due after ten years,, available for sale, fair value | 0 | |
Investment securities available-for-sale (amortized cost of $136,126 and $150,886) | 135,287 | 151,577 |
Due in one year or less, held to maturity, amortized cost | 1,185 | |
Due after one through five years, held to maturity, amortized cost | 1,020 | |
Due after five through ten years, held to maturity, amortized cost | 7,749 | |
Due after ten years, held to maturity, amortized cost | 0 | |
Investment securities held-to-maturity (fair value of $9,545 and $15,592) | 9,954 | 15,489 |
Due in one year or less, held to maturity, fair value | 1,198 | |
Due after one through five years, held to maturity, fair value | 1,035 | |
Due after five through ten years, held to maturity, fair value | 7,312 | |
Due after ten years, held to maturity, fair value | 0 | |
Investment securities held-to-maturity, fair value | $ 9,545 | $ 15,592 |
Note 6 - Mortgage-backed Secu_3
Note 6 - Mortgage-backed Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Mar. 31, 2022 | Mar. 31, 2022 | Mar. 31, 2021 | Jun. 30, 2021 | |||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss, Total | $ 9,954 | $ 9,954 | $ 15,489 | |||
Payments to Acquire Mortgage-Backed Securities (MBS) categorized as Held-to-Maturity | 79,236 | $ 13,163 | ||||
Proceeds from Sale and Maturity of Held-to-Maturity Securities, Total | 5,540 | $ 750 | ||||
Other than Temporary Impairment Losses, Investments, Total | 0 | 0 | ||||
Debt Securities, Held-to-Maturity, Fair Value, Total | 9,545 | 9,545 | 15,592 | |||
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss, Total | 129,054 | 129,054 | 82,059 | |||
Increase (Decrease) in Held to Maturity Securities | 47,000 | |||||
Payments to Acquire Mortgage-Backed Securities (MBS) categorized as Held-to-Maturity | 79,200 | |||||
Debt Securities, Held-to-Maturity, Fair Value, Total | 125,502 | 125,502 | 82,202 | |||
Mortgage-Backed Securities, Issued by Private Enterprises [Member] | ||||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss, Total | 359 | 359 | 400 | |||
Proceeds from Sale and Maturity of Held-to-Maturity Securities, Total | 32,300 | |||||
Proceeds from Maturities, Prepayments and Calls of Mortgage Backed Securities (MBS) | 25 | 96 | ||||
Other than Temporary Impairment Losses, Investments, Total | 0 | 0 | ||||
Debt Securities, Held-to-Maturity, Fair Value, Total | 422 | [1] | 422 | [1] | 457 | |
Collateralized Mortgage-Backed Securities [Member] | ||||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss, Total | 129,413 | 129,413 | 82,459 | |||
Debt Securities, Held-to-Maturity, Fair Value, Total | 125,924 | 125,924 | 82,659 | |||
Held to Maturity Securities Pledged as Collateral, Excess Collateral | 13,100 | 13,100 | 5,000 | |||
Collateralized Mortgage-Backed Securities [Member] | Asset Pledged as Collateral [Member] | Federal Home Loan Bank Advances [Member] | ||||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss, Total | 129,100 | 129,100 | ||||
Debt Securities, Held-to-Maturity, Fair Value, Total | $ 125,500 | $ 125,500 | 79,000 | |||
Collateralized Mortgage-Backed Securities [Member] | Asset Pledged as Collateral [Member] | Deposits and Federal Home Loan Bank Advances [Member] | ||||||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss, Total | $ 78,900 | |||||
[1] | Fair value estimate provided by the Company's independent third-party valuation consultant. |
Note 6 - Mortgage-backed Secu_4
Note 6 - Mortgage-backed Securities - Schedule of Information Relating to Private Label CMO Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 | ||
Investment securities held-to-maturity (fair value of $9,545 and $15,592) | $ 9,954 | $ 15,489 | ||
Investment securities held-to-maturity, fair value | 9,545 | 15,592 | ||
Mortgage-Backed Securities, Issued by Private Enterprises [Member] | ||||
Investment securities held-to-maturity (fair value of $9,545 and $15,592) | 359 | 400 | ||
Investment securities held-to-maturity, fair value | 422 | [1] | $ 457 | |
Life to date impairment recorded in earnings | 500 | |||
Mortgage-Backed Securities, Issued by Private Enterprises [Member] | Cusip No. 126694CP1 [Member] | ||||
Investment securities held-to-maturity (fair value of $9,545 and $15,592) | 222 | |||
Investment securities held-to-maturity, fair value | [1] | 253 | ||
Life to date impairment recorded in earnings | 271 | |||
Mortgage-Backed Securities, Issued by Private Enterprises [Member] | Cusip No. 126694KF4 [Member] | ||||
Investment securities held-to-maturity (fair value of $9,545 and $15,592) | 98 | |||
Investment securities held-to-maturity, fair value | [1] | 127 | ||
Life to date impairment recorded in earnings | 181 | |||
Mortgage-Backed Securities, Issued by Private Enterprises [Member] | Cusip No. 126694MP0 [Member] | ||||
Investment securities held-to-maturity (fair value of $9,545 and $15,592) | 39 | |||
Investment securities held-to-maturity, fair value | [1] | 42 | ||
Life to date impairment recorded in earnings | $ 48 | |||
[1] | Fair value estimate provided by the Company's independent third-party valuation consultant. |
Note 6 - Mortgage-backed Secu_5
Note 6 - Mortgage-backed Securities - Schedule of Amortized Cost and Fair Values of Mortgage-backed Securities (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 | |
Investment securities - held to maturity | $ 9,954 | $ 15,489 | |
Gross Unrealized Gains | 28 | 103 | |
Gross Unrealized Losses | (437) | 0 | |
Fair Value | 9,545 | 15,592 | |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | |||
Investment securities - held to maturity | 129,054 | 82,059 | |
Gross Unrealized Gains | 144 | 283 | |
Gross Unrealized Losses | (3,696) | (140) | |
Fair Value | 125,502 | 82,202 | |
Mortgage-Backed Securities, Issued by Private Enterprises [Member] | |||
Investment securities - held to maturity | 359 | 400 | |
Gross Unrealized Gains | 63 | 57 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 422 | [1] | 457 |
Collateralized Mortgage-Backed Securities [Member] | |||
Investment securities - held to maturity | 129,413 | 82,459 | |
Gross Unrealized Gains | 207 | 340 | |
Gross Unrealized Losses | (3,696) | (140) | |
Fair Value | $ 125,924 | $ 82,659 | |
[1] | Fair value estimate provided by the Company's independent third-party valuation consultant. |
Note 6 - Mortgage-backed Secu_6
Note 6 - Mortgage-backed Securities - Schedule of Mortgage-backed Securities By Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Due in one year or less, held to maturity, amortized cost | $ 1,185 | |
Due after one through five years, held to maturity, amortized cost | 1,020 | |
Due after five through ten years, held to maturity, amortized cost | 7,749 | |
Due after ten years, held to maturity, amortized cost | 0 | |
Investment securities held-to-maturity (fair value of $9,545 and $15,592) | 9,954 | $ 15,489 |
Due in one year or less, held to maturity, fair value | 1,198 | |
Due after one through five years, held to maturity, fair value | 1,035 | |
Due after five through ten years, held to maturity, fair value | 7,312 | |
Due after ten years, held to maturity, fair value | 0 | |
Investment securities held-to-maturity, fair value | 9,545 | 15,592 |
Collateralized Mortgage-Backed Securities [Member] | ||
Due in one year or less, held to maturity, amortized cost | 0 | |
Due after one through five years, held to maturity, amortized cost | 27 | |
Due after five through ten years, held to maturity, amortized cost | 0 | |
Due after ten years, held to maturity, amortized cost | 129,386 | |
Investment securities held-to-maturity (fair value of $9,545 and $15,592) | 129,413 | 82,459 |
Due in one year or less, held to maturity, fair value | 0 | |
Due after one through five years, held to maturity, fair value | 27 | |
Due after five through ten years, held to maturity, fair value | 0 | |
Due after ten years, held to maturity, fair value | 125,897 | |
Investment securities held-to-maturity, fair value | $ 125,924 | $ 82,659 |
Note 7 - Accumulated Other Co_3
Note 7 - Accumulated Other Comprehensive Income (loss) - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Balance | $ 38,222 | $ 38,427 | $ 38,389 | $ 36,913 |
Other comprehensive (loss) income | (701) | (56) | (1,203) | 1,010 |
Balance | 37,660 | 38,506 | 37,660 | 38,506 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member] | ||||
Balance | 40 | 561 | 546 | (499) |
Other comprehensive (loss) before reclassifications | (702) | (15) | (1,149) | 1,074 |
Amounts reclassified from accumulated other comprehensive (loss) income | 0 | (44) | (59) | (73) |
Other comprehensive (loss) income | (702) | (59) | (1,208) | 1,001 |
Balance | (662) | 502 | (662) | 502 |
AOCI, Accumulated Gain (Loss), Debt Securities, Held-to-maturity, Parent [Member] | ||||
Balance | (40) | (51) | (44) | (57) |
Other comprehensive (loss) before reclassifications | 1 | 3 | 5 | 9 |
Amounts reclassified from accumulated other comprehensive (loss) income | 0 | 0 | 0 | 0 |
Other comprehensive (loss) income | 1 | 3 | 5 | 9 |
Balance | (39) | (48) | (39) | (48) |
AOCI Attributable to Parent [Member] | ||||
Balance | 0 | 510 | 502 | (556) |
Other comprehensive (loss) before reclassifications | (701) | (12) | (1,144) | 1,083 |
Amounts reclassified from accumulated other comprehensive (loss) income | 0 | (44) | (59) | (73) |
Other comprehensive (loss) income | (701) | (56) | (1,203) | 1,010 |
Balance | $ (701) | $ 454 | $ (701) | $ 454 |
Note 8 - Unrealized Losses on_3
Note 8 - Unrealized Losses on Securities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Mar. 31, 2022 | Mar. 31, 2022 | |
Other than Temporary Impairment Losses, Investments, Total | $ 0 | $ 0 |
Other Comprehensive Income (Loss) Reclassification Adjustment From AOCI for Write-down of Securities | 2 | 5 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, Tax | $ 1 | $ 1 |
Note 8 - Unrealized Losses On_4
Note 8 - Unrealized Losses On Securities - Schedule of Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 | ||
Investment securities, less than twelve months, fair value | $ 177,256 | $ 54,789 | ||
Investment securities, less than twelve months, gross unrealized losses | (4,939) | (76) | ||
Investment securities, twelve months or greater, fair value | 10,523 | 10,407 | ||
Investment securities, twelve months or greater, gross unrealized losses | (234) | (98) | ||
Investment securities, total, fair value | 187,779 | 65,196 | ||
Investment securities, total, gross unrealized losses | (5,173) | (174) | ||
US Government Corporations and Agencies Securities [Member] | ||||
Investment securities, less than twelve months, fair value | 10,359 | 3,214 | ||
Investment securities, less than twelve months, gross unrealized losses | (588) | (1) | ||
Investment securities, twelve months or greater, fair value | 0 | 0 | ||
Investment securities, twelve months or greater, gross unrealized losses | 0 | 0 | ||
Investment securities, total, fair value | 10,359 | 3,214 | ||
Investment securities, total, gross unrealized losses | (588) | (1) | ||
Corporate Debt Securities [Member] | ||||
Investment securities, less than twelve months, fair value | 43,529 | 17,111 | ||
Investment securities, less than twelve months, gross unrealized losses | (623) | (7) | ||
Investment securities, twelve months or greater, fair value | 0 | 0 | ||
Investment securities, twelve months or greater, gross unrealized losses | 0 | 0 | ||
Investment securities, total, fair value | 43,529 | 17,111 | ||
Investment securities, total, gross unrealized losses | (623) | (7) | ||
Debt Security, Corporate, Non-US [Member] | ||||
Investment securities, less than twelve months, fair value | 8,425 | [1] | 10,929 | [2] |
Investment securities, less than twelve months, gross unrealized losses | (144) | [1] | (21) | [2] |
Investment securities, twelve months or greater, fair value | 4,345 | [1] | 0 | [2] |
Investment securities, twelve months or greater, gross unrealized losses | (82) | [1] | 0 | [2] |
Investment securities, total, fair value | 12,770 | [1] | 10,929 | [2] |
Investment securities, total, gross unrealized losses | (226) | [1] | (21) | [2] |
US States and Political Subdivisions Debt Securities [Member] | ||||
Investment securities, less than twelve months, fair value | 436 | 725 | ||
Investment securities, less than twelve months, gross unrealized losses | (32) | (5) | ||
Investment securities, twelve months or greater, fair value | 245 | 0 | ||
Investment securities, twelve months or greater, gross unrealized losses | (8) | 0 | ||
Investment securities, total, fair value | 681 | 725 | ||
Investment securities, total, gross unrealized losses | (40) | (5) | ||
Collateralized Mortgage-Backed Securities [Member] | ||||
Investment securities, less than twelve months, fair value | 114,507 | 22,810 | ||
Investment securities, less than twelve months, gross unrealized losses | (3,552) | (42) | ||
Investment securities, twelve months or greater, fair value | 5,933 | 10,407 | ||
Investment securities, twelve months or greater, gross unrealized losses | (144) | (98) | ||
Investment securities, total, fair value | 120,440 | 33,217 | ||
Investment securities, total, gross unrealized losses | $ (3,696) | $ (140) | ||
[1] | U.S. dollar denominated investment-grade corporate bonds of large foreign corporate issuers. | |||
[2] | U.S. dollar denominated investment-grade corporate bonds of large foreign corporate issuers. |
Note 8 - Unrealized Losses On_5
Note 8 - Unrealized Losses On Securities - Schedule of Changes In the Credit Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Beginning balance | $ 322 | $ 324 | $ 322 | $ 311 |
Initial credit impairment | 0 | 0 | 0 | 0 |
Subsequent credit impairment | 0 | 0 | 0 | 13 |
Reductions for amounts recognized in earnings due to intent or requirement to sell | 0 | 0 | 0 | 0 |
Reductions for securities sold | 0 | 0 | 0 | 0 |
Reduction for actual realized losses | 0 | (2) | 0 | (2) |
Reduction for increase in cash flows expected to be collected | 0 | 0 | 0 | 0 |
Ending balance | $ 322 | $ 322 | $ 322 | $ 322 |
Note 9 - Loans and Related Al_3
Note 9 - Loans and Related Allowance for Loan Losses (Details Textual) Pure in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||||
Jun. 30, 2022USD ($) | Mar. 31, 2022USD ($) | Mar. 31, 2021USD ($) | Mar. 31, 2022USD ($) | Mar. 31, 2021USD ($) | Mar. 31, 2022USD ($) | Mar. 31, 2021USD ($) | Jun. 30, 2021USD ($) | |
Impaired Financing Receivable, Recorded Investment, Total | $ 0 | $ 0 | $ 0 | $ 0 | ||||
Financing Receivable, Nonaccrual | $ 0 | 0 | $ 0 | $ 0 | ||||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | 0 | 0 | ||||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | ||||
Provision for Loan, Lease, and Other Losses, Total | $ (16) | $ (8) | $ (52) | $ (15) | $ (52) | $ (15) | ||
Land Acquisition and Development Loan [Member] | ||||||||
Provision for Loan, Lease, and Other Losses, Total | (4) | |||||||
Family 1-4 Loans [Member] | ||||||||
Provision for Loan, Lease, and Other Losses, Total | 10 | |||||||
COVID-19 [Member] | ||||||||
Provision for Loan, Lease, and Other Losses, Total | $ (23) | $ 63 | ||||||
COVID-19 [Member] | Forecast [Member] | ||||||||
Provision for Loan, Lease, and Other Losses, Total | $ 22 |
Note 9 - Loans and Related Al_4
Note 9 - Loans and Related Allowance for Loan Losses - Schedule of Primary Segments of Loan Portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Total Loans | $ 76,471 | $ 80,971 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 76,471 | 80,971 |
Plus: Deferred loan costs | 208 | 278 |
Allowance for loan losses | (513) | (565) |
Total | 76,166 | 80,684 |
First Mortgage Loans One to Four Family Dwellings [Member] | ||
Total Loans | 62,449 | 67,410 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 62,449 | 67,410 |
First Mortgage Loans Construction [Member] | ||
Total Loans | 1,914 | 2,612 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 1,914 | 2,612 |
First Mortgage Loans Land Acquisition and Development [Member] | ||
Total Loans | 516 | 666 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 516 | 666 |
First Mortgage Loans Multifamily Dwellings [Member] | ||
Total Loans | 3,342 | 3,469 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 3,342 | 3,469 |
First Mortgage Loans Commercial [Member] | ||
Total Loans | 4,722 | 3,939 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 4,722 | 3,939 |
Consumer Loans Home Equity [Member] | ||
Total Loans | 2,144 | 1,340 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 2,144 | 1,340 |
Consumer Loans, Home Equity Lines of Credit [Member] | ||
Total Loans | 1,339 | 1,508 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 1,339 | 1,508 |
Consumer Loans, Other [Member] | ||
Total Loans | 15 | 27 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 15 | 27 |
Commercial Loans [Member] | ||
Total Loans | 30 | 0 |
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | $ 30 | $ 0 |
Note 9 - Loans and Related Al_5
Note 9 - Loans and Related Allowance for Loan Losses - Schedule of Nonaccrual Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Average nonaccrual loans | $ 0 | $ 0 | $ 0 | $ 0 |
Income that would have been recognized | 0 | 0 | 0 | 0 |
Interest income recognized | 0 | 0 | 0 | 0 |
Interest income foregone | 0 | 0 | 0 | 0 |
First Mortgage Loans One to Four Family Dwellings [Member] | ||||
Average nonaccrual loans | 0 | 0 | 0 | 0 |
First Mortgage Loans Construction [Member] | ||||
Average nonaccrual loans | 0 | 0 | 0 | 0 |
First Mortgage Loans Land Acquisition and Development [Member] | ||||
Average nonaccrual loans | 0 | 0 | 0 | 0 |
Commercial Real Estate [Member] | ||||
Average nonaccrual loans | 0 | 0 | 0 | 0 |
Consumer Loans, Home Equity Lines of Credit [Member] | ||||
Average nonaccrual loans | $ 0 | $ 0 | $ 0 | $ 0 |
Note 9 - Loans and Related Al_6
Note 9 - Loans and Related Allowance for Loan Losses - Schedule of Loan Portfolio By Aging Categories (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Total Loans | $ 76,471 | $ 80,971 |
90 Days + Past Due Non-accrual | 0 | 0 |
Deferred loan costs | 208 | 278 |
Allowance for loan losses | (513) | (565) |
Net loans receivable (allowance for loan losses of $513 and $565) | 76,166 | 80,684 |
Financial Asset, Not Past Due [Member] | ||
Total Loans | 76,471 | 80,971 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Financial Asset, Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans One to Four Family Dwellings [Member] | ||
Total Loans | 62,449 | 67,410 |
90 Days + Past Due Non-accrual | 0 | 0 |
First Mortgage Loans One to Four Family Dwellings [Member] | Financial Asset, Not Past Due [Member] | ||
Total Loans | 62,449 | 67,410 |
First Mortgage Loans One to Four Family Dwellings [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans One to Four Family Dwellings [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans One to Four Family Dwellings [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans One to Four Family Dwellings [Member] | Financial Asset, Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Construction [Member] | ||
Total Loans | 1,914 | 2,612 |
90 Days + Past Due Non-accrual | 0 | 0 |
First Mortgage Loans Construction [Member] | Financial Asset, Not Past Due [Member] | ||
Total Loans | 1,914 | 2,612 |
First Mortgage Loans Construction [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Construction [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Construction [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Construction [Member] | Financial Asset, Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Land Acquisition and Development [Member] | ||
Total Loans | 516 | 666 |
90 Days + Past Due Non-accrual | 0 | 0 |
First Mortgage Loans Land Acquisition and Development [Member] | Financial Asset, Not Past Due [Member] | ||
Total Loans | 516 | 666 |
First Mortgage Loans Land Acquisition and Development [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Land Acquisition and Development [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Land Acquisition and Development [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Land Acquisition and Development [Member] | Financial Asset, Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Multifamily Dwellings [Member] | ||
Total Loans | 3,342 | 3,469 |
90 Days + Past Due Non-accrual | 0 | 0 |
First Mortgage Loans Multifamily Dwellings [Member] | Financial Asset, Not Past Due [Member] | ||
Total Loans | 3,342 | 3,469 |
First Mortgage Loans Multifamily Dwellings [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Multifamily Dwellings [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Multifamily Dwellings [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Multifamily Dwellings [Member] | Financial Asset, Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Commercial [Member] | ||
Total Loans | 4,722 | 3,939 |
90 Days + Past Due Non-accrual | 0 | 0 |
First Mortgage Loans Commercial [Member] | Financial Asset, Not Past Due [Member] | ||
Total Loans | 4,722 | 3,939 |
First Mortgage Loans Commercial [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Commercial [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Commercial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
First Mortgage Loans Commercial [Member] | Financial Asset, Past Due [Member] | ||
Total Loans | 0 | 0 |
Consumer Loans Home Equity [Member] | ||
Total Loans | 2,144 | 1,340 |
90 Days + Past Due Non-accrual | 0 | 0 |
Consumer Loans Home Equity [Member] | Financial Asset, Not Past Due [Member] | ||
Total Loans | 2,144 | 1,340 |
Consumer Loans Home Equity [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Consumer Loans Home Equity [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Consumer Loans Home Equity [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Consumer Loans Home Equity [Member] | Financial Asset, Past Due [Member] | ||
Total Loans | 0 | 0 |
Home Equity Line of Credit [Member] | ||
Total Loans | 1,339 | 1,508 |
90 Days + Past Due Non-accrual | 0 | 0 |
Home Equity Line of Credit [Member] | Financial Asset, Not Past Due [Member] | ||
Total Loans | 1,339 | 1,508 |
Home Equity Line of Credit [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Home Equity Line of Credit [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Home Equity Line of Credit [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Home Equity Line of Credit [Member] | Financial Asset, Past Due [Member] | ||
Total Loans | 0 | 0 |
Consumer Loans, Other [Member] | ||
Total Loans | 15 | 27 |
90 Days + Past Due Non-accrual | 0 | 0 |
Consumer Loans, Other [Member] | Financial Asset, Not Past Due [Member] | ||
Total Loans | 15 | 27 |
Consumer Loans, Other [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Consumer Loans, Other [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Consumer Loans, Other [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Consumer Loans, Other [Member] | Financial Asset, Past Due [Member] | ||
Total Loans | 0 | 0 |
Commercial Loans [Member] | ||
Total Loans | 30 | 0 |
90 Days + Past Due Non-accrual | 0 | 0 |
Commercial Loans [Member] | Financial Asset, Not Past Due [Member] | ||
Total Loans | 30 | 0 |
Commercial Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Commercial Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Commercial Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Total Loans | 0 | 0 |
Commercial Loans [Member] | Financial Asset, Past Due [Member] | ||
Total Loans | $ 0 | $ 0 |
Note 9 - Loans and Related Al_7
Note 9 - Loans and Related Allowance for Loan Losses - Schedule of Loans By Internal Classification (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
First Mortgage Loans Construction [Member] | ||
Loans receivable | $ 1,914 | $ 2,612 |
First Mortgage Loans Land Acquisition and Development [Member] | ||
Loans receivable | 516 | 666 |
First Mortgage Loans Multifamily Dwellings [Member] | ||
Loans receivable | 3,342 | 3,469 |
First Mortgage Loans Commercial [Member] | ||
Loans receivable | 4,722 | 3,939 |
Commercial Loans [Member] | ||
Loans receivable | 30 | 0 |
Pass [Member] | First Mortgage Loans Construction [Member] | ||
Loans receivable | 1,914 | 2,612 |
Pass [Member] | First Mortgage Loans Land Acquisition and Development [Member] | ||
Loans receivable | 516 | 666 |
Pass [Member] | First Mortgage Loans Multifamily Dwellings [Member] | ||
Loans receivable | 3,342 | 3,469 |
Pass [Member] | First Mortgage Loans Commercial [Member] | ||
Loans receivable | 4,722 | 3,939 |
Pass [Member] | Commercial Loans [Member] | ||
Loans receivable | 30 | 0 |
Special Mention [Member] | First Mortgage Loans Construction [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | First Mortgage Loans Land Acquisition and Development [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | First Mortgage Loans Multifamily Dwellings [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | First Mortgage Loans Commercial [Member] | ||
Loans receivable | 0 | 0 |
Special Mention [Member] | Commercial Loans [Member] | ||
Loans receivable | 0 | 0 |
Substandard [Member] | First Mortgage Loans Construction [Member] | ||
Loans receivable | 0 | 0 |
Substandard [Member] | First Mortgage Loans Land Acquisition and Development [Member] | ||
Loans receivable | 0 | 0 |
Substandard [Member] | First Mortgage Loans Multifamily Dwellings [Member] | ||
Loans receivable | 0 | 0 |
Substandard [Member] | First Mortgage Loans Commercial [Member] | ||
Loans receivable | 0 | 0 |
Substandard [Member] | Commercial Loans [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | First Mortgage Loans Construction [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | First Mortgage Loans Land Acquisition and Development [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | First Mortgage Loans Multifamily Dwellings [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | First Mortgage Loans Commercial [Member] | ||
Loans receivable | 0 | 0 |
Doubtful [Member] | Commercial Loans [Member] | ||
Loans receivable | $ 0 | $ 0 |
Note 9 - Loans and Related Al_8
Note 9 - Loans and Related Allowance for Loan Losses - Schedule of Performing and Non-performing Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
First Mortgage Loans One to Four Family Dwellings [Member] | ||
Loans receivable | $ 62,449 | $ 67,410 |
Consumer Loan [Member] | ||
Loans receivable | 3,498 | 2,875 |
Performing Financial Instruments [Member] | First Mortgage Loans One to Four Family Dwellings [Member] | ||
Loans receivable | 62,449 | 67,410 |
Performing Financial Instruments [Member] | Consumer Loan [Member] | ||
Loans receivable | 3,498 | 2,875 |
Nonperforming Financial Instruments [Member] | First Mortgage Loans One to Four Family Dwellings [Member] | ||
Loans receivable | 0 | 0 |
Nonperforming Financial Instruments [Member] | Consumer Loan [Member] | ||
Loans receivable | $ 0 | $ 0 |
Note 9 - Loans and Related Al_9
Note 9 - Loans and Related Allowance for Loan Losses - Schedule of Primary Segments of Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Balance | $ 529 | $ 611 | $ 565 | $ 618 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
(CREDIT) PROVISION FOR LOAN LOSSES | (16) | (8) | (52) | (15) | $ (52) | $ (15) |
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | 0 |
Collectively evaluated for impairment | 513 | 603 | 513 | 603 | 513 | 603 |
Balance | 513 | 603 | 513 | 603 | 513 | 603 |
First Mortgage Loans One to Four Family Dwellings [Member] | ||||||
Balance | 342 | 446 | 389 | 449 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
(CREDIT) PROVISION FOR LOAN LOSSES | (18) | (29) | (65) | (32) | ||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | 0 |
Collectively evaluated for impairment | 324 | 417 | 324 | 417 | 324 | 417 |
Balance | 324 | 417 | 324 | 417 | 324 | 417 |
First Mortgage Loans Construction [Member] | ||||||
Balance | 49 | 34 | 50 | 38 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
(CREDIT) PROVISION FOR LOAN LOSSES | 15 | 22 | 14 | 18 | ||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | 0 |
Collectively evaluated for impairment | 64 | 56 | 64 | 56 | 64 | 56 |
Balance | 64 | 56 | 64 | 56 | 64 | 56 |
First Mortgage Loans Land Acquisition and Development [Member] | ||||||
Balance | 20 | 6 | 11 | 6 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
(CREDIT) PROVISION FOR LOAN LOSSES | (6) | 5 | 3 | 5 | ||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | 0 |
Collectively evaluated for impairment | 14 | 11 | 14 | 11 | 14 | 11 |
Balance | 14 | 11 | 14 | 11 | 14 | 11 |
First Mortgage Loans Multifamily Dwellings [Member] | ||||||
Balance | 21 | 25 | 24 | 26 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
(CREDIT) PROVISION FOR LOAN LOSSES | (1) | 0 | (4) | (1) | ||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | 0 |
Collectively evaluated for impairment | 20 | 25 | 20 | 25 | 20 | 25 |
Balance | 20 | 25 | 20 | 25 | 20 | 25 |
First Mortgage Loans Commercial [Member] | ||||||
Balance | 62 | 62 | 59 | 66 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
(CREDIT) PROVISION FOR LOAN LOSSES | (7) | (1) | (4) | (5) | ||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | 0 |
Collectively evaluated for impairment | 55 | 61 | 55 | 61 | 55 | 61 |
Balance | 55 | 61 | 55 | 61 | 55 | 61 |
Consumer Portfolio Segment [Member] | ||||||
Balance | 35 | 36 | 32 | 32 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
(CREDIT) PROVISION FOR LOAN LOSSES | (1) | (3) | 2 | 1 | ||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | 0 |
Collectively evaluated for impairment | 34 | 33 | 34 | 33 | 34 | 33 |
Balance | 34 | 33 | 34 | 33 | 34 | 33 |
Commercial Portfolio Segment [Member] | ||||||
Balance | 0 | 2 | 0 | 1 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
(CREDIT) PROVISION FOR LOAN LOSSES | 2 | (2) | 2 | (1) | ||
Individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 | 0 |
Collectively evaluated for impairment | 2 | 0 | 2 | 0 | 2 | 0 |
Balance | $ 2 | $ 0 | $ 2 | $ 0 | $ 2 | $ 0 |
Note 10 - Federal Home Loan B_3
Note 10 - Federal Home Loan Bank (FHLB) Advances (Details Textual) $ in Millions | Mar. 31, 2022USD ($) |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 13.1 |
Note 10 - Federal Home Loan B_4
Note 10 - Federal Home Loan Bank (FHLB) Advances - Schedule of Contractual Maturities of Federal Home Loan Bank Long-term Advances (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 | |
Federal Home Loan Bank advances: long-term | $ 166,823 | $ 148,093 | |
Fixed Debt [Member] | |||
Federal Home Loan Bank advances: long-term | $ 5,000 | 10,000 | |
Fixed Debt [Member] | Weighted Average [Member] | |||
Interest rate | [1] | 3.09% | |
Fixed Debt [Member] | Minimum [Member] | |||
Interest rate | 2.95% | ||
Fixed Debt [Member] | Maximum [Member] | |||
Interest rate | 3.09% | ||
Adjustable Debt [Member] | |||
Federal Home Loan Bank advances: long-term | $ 0 | 25,000 | |
Adjustable Debt [Member] | Minimum [Member] | |||
Interest rate | 0.29% | ||
Adjustable Debt [Member] | Maximum [Member] | |||
Interest rate | 0.36% | ||
Federal Home Loan Bank Advances [Member] | |||
Federal Home Loan Bank advances: long-term | $ 5,000 | $ 35,000 | |
Federal Home Loan Bank Advances [Member] | Weighted Average [Member] | |||
Interest rate | 3.09% | ||
[1] | As of March 31, 2022 |
Note 10 - Federal Home Loan B_5
Note 10 - Federal Home Loan Bank (FHLB) Advances - Maturities of Federal Home Loan Bank Long-term Advances (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Total, amount | $ 161,823 | $ 113,093 |
Federal Home Loan Bank Advances [Member] | ||
2022, amount | 0 | |
2023, amount | 5,000 | |
2024, amount | 0 | |
2025, amount | 0 | |
2026, amount | 0 | |
2026 and thereafter, amount | 0 | |
Total, amount | $ 5,000 | |
Federal Home Loan Bank Advances [Member] | Weighted Average [Member] | ||
2022 | 0.00% | |
2023 | 3.09% | |
2024 | 0.00% | |
2025 | 0.00% | |
2026 | 0.00% | |
2026 and thereafter | 0.00% | |
Interest rate | 3.09% |
Note 10 - Federal Home Loan B_6
Note 10 - Federal Home Loan Bank (FHLB) Advances - Schedule of Federal Home Loan Bank Short-term Advances (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Jun. 30, 2021 | |
Ending balance | $ 161,823 | $ 113,093 |
Average balance | 65,095 | 34,715 |
Maximum month-end balance | $ 161,824 | $ 113,093 |
Average interest rate | 0.33% | 0.34% |
Weighted-average rate at period end | 0.41% | 0.28% |
Note 11 - Other Short-term Bo_3
Note 11 - Other Short-term Borrowings (Details Textual) $ in Millions | Mar. 31, 2022USD ($) |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 13.1 |
Federal Reserve Bank of Cleveland Borrowings [Member] | |
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 27.6 |
Note 11 - Other Short-term Bo_4
Note 11 - Other Short-term Borrowings - Schedule of FRBC Borrowings (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Jun. 30, 2021 | |
Ending balance | $ 0 | $ 0 |
Average balance | 0 | 456 |
Maximum month-end balance | $ 0 | $ 5,875 |
Average interest rate | 0.00% | 0.25% |
Weighted-average rate at period end | 0.00% | 0.00% |
Note 12 - Fair Value Measurem_3
Note 12 - Fair Value Measurements - Assets Measured At Fair Value On a Recurring and Nonrecurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 | |
Assets measured on a recurring basis | $ 135,287 | $ 151,577 | |
US Government Agencies Debt Securities [Member] | |||
Assets measured on a recurring basis | 3,047 | 3,214 | |
Corporate Debt Securities [Member] | |||
Assets measured on a recurring basis | 98,085 | 110,040 | |
Debt Security, Corporate, Non-US [Member] | |||
Assets measured on a recurring basis | [1] | 33,474 | 37,598 |
US States and Political Subdivisions Debt Securities [Member] | |||
Assets measured on a recurring basis | 681 | 725 | |
Fair Value, Inputs, Level 1 [Member] | |||
Assets measured on a recurring basis | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | |||
Assets measured on a recurring basis | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member] | |||
Assets measured on a recurring basis | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Debt Security, Corporate, Non-US [Member] | |||
Assets measured on a recurring basis | [1] | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Assets measured on a recurring basis | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Assets measured on a recurring basis | 135,287 | 151,577 | |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | |||
Assets measured on a recurring basis | 3,047 | 3,214 | |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | |||
Assets measured on a recurring basis | 98,085 | 110,040 | |
Fair Value, Inputs, Level 2 [Member] | Debt Security, Corporate, Non-US [Member] | |||
Assets measured on a recurring basis | [1] | 33,474 | 37,598 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Assets measured on a recurring basis | 681 | 725 | |
Fair Value, Inputs, Level 3 [Member] | |||
Assets measured on a recurring basis | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | |||
Assets measured on a recurring basis | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member] | |||
Assets measured on a recurring basis | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Debt Security, Corporate, Non-US [Member] | |||
Assets measured on a recurring basis | [1] | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | |||
Assets measured on a recurring basis | $ 0 | $ 0 | |
[1] | U.S. dollar-denominated investment-grade corporate bonds of large foreign corporate issuers. |
Note 13 - Fair Value of Finan_3
Note 13 - Fair Value of Financial Instruments - Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Cash and cash equivalents | $ 3,323 | $ 2,551 |
Certificates of deposit | 350 | 350 |
Investment securities - held to maturity | 9,954 | 15,489 |
Net loans receivable | 76,166 | 80,684 |
Accrued interest receivable | 987 | 749 |
FHLB stock | 6,793 | 6,044 |
Bank owned life insurance | 5,104 | 5,021 |
Non-interest bearing deposits | 27,741 | 25,452 |
Interest-earning checking | 28,148 | 26,881 |
Savings accounts | 50,293 | 50,058 |
Money market accounts | 24,062 | 22,995 |
FHLB advances – fixed rate | 166,823 | 148,093 |
FHLB short-term advances | 161,823 | 113,093 |
Accrued interest payable | 114 | 155 |
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment securities - held to maturity | 129,054 | 82,059 |
Mortgage-Backed Securities, Issued by Private Enterprises [Member] | ||
Investment securities - held to maturity | 359 | 400 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 3,323 | 2,551 |
Certificates of deposit | 350 | 350 |
Investment securities - held to maturity | 9,954 | 15,489 |
Net loans receivable | 76,166 | 80,684 |
Accrued interest receivable | 987 | 749 |
FHLB stock | 6,793 | 6,044 |
Bank owned life insurance | 5,104 | 5,021 |
Non-interest bearing deposits | 27,741 | 25,452 |
Interest-earning checking | 28,148 | 26,881 |
Savings accounts | 50,293 | 50,058 |
Money market accounts | 24,062 | 22,995 |
Certificates of deposit | 29,972 | 29,731 |
Advance payments by borrowers for taxes and insurance | 1,460 | 2,050 |
FHLB advances – fixed rate | 5,000 | 10,000 |
FHLB advances – variable rate | 0 | 25,000 |
FHLB short-term advances | 161,823 | 113,093 |
Accrued interest payable | 114 | 155 |
Reported Value Measurement [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment securities - held to maturity | 129,054 | 82,059 |
Reported Value Measurement [Member] | Mortgage-Backed Securities, Issued by Private Enterprises [Member] | ||
Investment securities - held to maturity | 359 | 400 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 3,323 | 2,551 |
Certificates of deposit | 350 | 350 |
Investment securities - held to maturity | 9,545 | 15,592 |
Net loans receivable | 75,035 | 82,930 |
Accrued interest receivable | 987 | 749 |
FHLB stock | 6,793 | 6,044 |
Bank owned life insurance | 5,104 | 5,021 |
Non-interest bearing deposits | 27,741 | 25,452 |
Interest-earning checking | 28,148 | 26,881 |
Savings accounts | 50,293 | 50,058 |
Money market accounts | 24,062 | 22,995 |
Certificates of deposit | 29,856 | 29,763 |
Advance payments by borrowers for taxes and insurance | 1,460 | 2,050 |
FHLB advances – fixed rate | 5,016 | 9,763 |
FHLB advances – variable rate | 0 | 25,000 |
FHLB short-term advances | 161,823 | 113,093 |
Accrued interest payable | 114 | 155 |
Estimate of Fair Value Measurement [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment securities - held to maturity | 125,502 | 82,202 |
Estimate of Fair Value Measurement [Member] | Mortgage-Backed Securities, Issued by Private Enterprises [Member] | ||
Investment securities - held to maturity | 422 | 457 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 3,323 | 2,551 |
Certificates of deposit | 350 | 350 |
Investment securities - held to maturity | 0 | 0 |
Net loans receivable | 0 | 0 |
Accrued interest receivable | 987 | 749 |
FHLB stock | 6,793 | 6,044 |
Bank owned life insurance | 5,104 | 5,021 |
Non-interest bearing deposits | 27,741 | 25,452 |
Interest-earning checking | 28,148 | 26,881 |
Savings accounts | 50,293 | 50,058 |
Money market accounts | 24,062 | 22,995 |
Certificates of deposit | 0 | 0 |
Advance payments by borrowers for taxes and insurance | 1,460 | 2,050 |
FHLB advances – fixed rate | 0 | 0 |
FHLB advances – variable rate | 0 | 25,000 |
FHLB short-term advances | 161,823 | 113,093 |
Accrued interest payable | 114 | 155 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment securities - held to maturity | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-Backed Securities, Issued by Private Enterprises [Member] | ||
Investment securities - held to maturity | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Certificates of deposit | 0 | 0 |
Investment securities - held to maturity | 9,545 | 15,592 |
Net loans receivable | 0 | 0 |
Accrued interest receivable | 0 | 0 |
FHLB stock | 0 | 0 |
Bank owned life insurance | 0 | 0 |
Non-interest bearing deposits | 0 | 0 |
Interest-earning checking | 0 | 0 |
Savings accounts | 0 | 0 |
Money market accounts | 0 | 0 |
Certificates of deposit | 0 | 0 |
Advance payments by borrowers for taxes and insurance | 0 | 0 |
FHLB advances – fixed rate | 0 | 0 |
FHLB advances – variable rate | 0 | 0 |
FHLB short-term advances | 0 | 0 |
Accrued interest payable | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment securities - held to maturity | 125,502 | 82,202 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities, Issued by Private Enterprises [Member] | ||
Investment securities - held to maturity | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Certificates of deposit | 0 | 0 |
Investment securities - held to maturity | 0 | 0 |
Net loans receivable | 75,035 | 82,930 |
Accrued interest receivable | 0 | 0 |
FHLB stock | 0 | 0 |
Bank owned life insurance | 0 | 0 |
Non-interest bearing deposits | 0 | 0 |
Interest-earning checking | 0 | 0 |
Savings accounts | 0 | 0 |
Money market accounts | 0 | 0 |
Certificates of deposit | 29,856 | 29,763 |
Advance payments by borrowers for taxes and insurance | 0 | 0 |
FHLB advances – fixed rate | 5,016 | 9,763 |
FHLB advances – variable rate | 0 | 0 |
FHLB short-term advances | 0 | 0 |
Accrued interest payable | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Investment securities - held to maturity | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-Backed Securities, Issued by Private Enterprises [Member] | ||
Investment securities - held to maturity | $ 422 | $ 457 |