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Benefit Plans (Tables)
 12 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
Schedule of Net Periodic Benefit Expense
The following table sets forth the aggregate net periodic benefit expense for the Bank’s Benefit Equalization Plan, Postretirement Welfare Plan, Directors’ Consultation and Retirement Plan, Atlas Bank Retirement Income Plan and Supplemental Executive Retirement Plan:
Year Ended June 30, Affected Line Item in the Consolidated Statements of Income
202420232022
(In Thousands)
Service cost$77 $281 $547 Salaries and employee benefits
Interest cost369 369 279 Other expense
(Accretion) amortization of unrecognized (gain) loss(58)(24)80 Other expense
Expected return on assets(92)(99)(110)Other expense
Net periodic benefit cost$296 $527 $796 
Years Ended June 30,
202420232022
(In Thousands)
Net periodic benefit cost:
Interest cost$81 $78 $62 
Expected return on assets(93)(99)(110)
Amortization of net loss42 28 21 
Total expense (benefit)$30 $7 $(27)
Valuation assumptions
Discount rate5.00 %4.50 %3.00 %
Long term rate of return on plan assets3.50 %3.50 %3.50 %
Years Ended June 30,
202420232022
(In Thousands)
Net periodic benefit cost:
Interest cost$115 $111 $86 
Amortization of net actuarial loss42 46 71 
Total expense$157 $157 $157 
Valuation assumptions
Discount rate5.00 %4.50 %3.00 %
Salary increase rateN/AN/AN/A
Years Ended June 30,
202420232022
(In Thousands)
Net periodic benefit cost:
Service cost$79 $95 $116 
Interest cost50 48 33 
Amortization of net actuarial gain(42)(28)(12)
Total expense$87 $115 $137 
Valuation assumptions
Discount rate5.00 %4.50 %3.00 %
Salary increase rate3.25 %3.25 %3.25 %
Years Ended June 30,
202420232022
(In Thousands)
Net periodic benefit cost:
Interest cost$124 $117 $92 
Amortization of net actuarial gain(99)(69)— 
Total expense$25 $48 $92 
 
Valuation assumptions
Discount rate5.00 %4.50 %3.00 %
Salary increase rateN/AN/AN/A
Year Ended June 30,
20242023
(In Thousands)
Net periodic benefit cost:
Service cost$— $185 
Interest cost— 11 
Total expense$— $196 
Valuation assumptions
Discount rate— %3.00 %
Salary increase rate— %4.00 %
Employee Stock Ownership Plan (ESOP) Disclosures
At June 30, 2024 and 2023, the ESOP shares were as follows:
June 30,
20242023
(In Thousands)
Shares purchased by ESOP6,022 6,022 
Less: Shares allocated3,764 3,564 
Less: Shares committed to be released100 100 
Remaining unearned ESOP shares2,158 2,358 
Fair value of unearned ESOP shares$13,272 $16,624 
Schedule of Net Funded Status
The following tables set forth the ABRIP’s funded status and net periodic benefit cost:
June 30,
20242023
(In Thousands)
Change in benefit obligation:
Projected benefit obligation - beginning$1,700 $1,816 
Interest cost81 78 
Actuarial gain(51)(46)
Benefit payments(160)(148)
Projected benefit obligation - ending$1,570 $1,700 
Change in plan assets:
Fair value of assets - beginning$2,717 $2,907 
Actual return on assets92 (42)
Benefit payments(160)(148)
Fair value of assets - ending$2,649 $2,717 
Reconciliation of funded status:
Projected benefit obligation$(1,570)$(1,700)
Fair value of assets2,649 2,717 
Funded status included in other assets$1,079 $1,017 
Accumulated benefit obligation$(1,570)$(1,700)
Valuation assumptions
Discount rate5.50 %5.00 %
Salary increase rateN/AN/A
The following tables set forth the BEP’s funded status and components of net periodic benefit cost:
June 30,
20242023
(In Thousands)
Change in benefit obligation:
Projected benefit obligation - beginning$2,425 $2,592 
Interest cost115 111 
Actuarial gain(40)(34)
Benefit payments(246)(244)
Projected benefit obligation - ending$2,254 $2,425 
Change in plan assets:
Fair value of assets - beginning$— $— 
Contributions246 244 
Benefit payments(246)(244)
Fair value of assets - ending$— $— 
Reconciliation of funded status:
Accumulated benefit obligation$(2,254)$(2,425)
Projected benefit obligation$(2,254)$(2,425)
Fair value of assets— — 
Funded status included in other liabilities$(2,254)$(2,425)
Valuation assumptions
Discount rate5.50 %5.00 %
Salary increase rateN/AN/A
The following tables set forth the accrued accumulated postretirement benefit obligation and the net periodic benefit cost:
June 30,
20242023
(In Thousands)
Change in benefit obligation:
Projected benefit obligation - beginning$1,036 $1,085 
Service cost79 95 
Interest cost50 48 
Actuarial gain(90)(214)
Premiums/claims paid(13)(13)
Plan amendments— 35 
Projected benefit obligation - ending$1,062 $1,036 
Change in plan assets:
Fair value of assets - beginning$— $— 
Contributions13 13 
Premiums/claims paid(13)(13)
Fair value of assets - ending$— $— 
Reconciliation of funded status:
Projected benefit obligation$(1,062)$(1,036)
Fair value of assets— — 
Funded status included in other liabilities$(1,062)$(1,036)
Valuation assumptions
Discount rate5.50 %5.00 %
Salary increase rate3.25 %3.25 %
The following table sets forth the DCRP’s funded status and components of net periodic cost:
June 30,
20242023
(In Thousands)
Change in benefit obligation:
Projected benefit obligation - beginning$2,520 $2,646 
Interest cost124 117 
Actuarial gain(181)(194)
Benefit payments(49)(49)
Projected benefit obligation - ending$2,414 $2,520 
Change in plan assets:
Fair value of assets - beginning$— $— 
Contributions49 49 
Benefit payments(49)(49)
Fair value of assets - ending$— $— 
Reconciliation of funded status:
Accumulated benefit obligation$(2,414)$(2,520)
Projected benefit obligation$(2,414)$(2,520)
Fair value of assets— — 
Funded status included in other liabilities$(2,414)$(2,520)
Valuation assumptions
Discount rate5.50 %5.00 %
Salary increase rateN/AN/A
The following tables set forth the SERP’s funded status and net periodic benefit cost:
June 30,
20242023
(In Thousands)
Change in benefit obligation:
Projected benefit obligation - beginning$633 $437 
Service cost— 185 
Interest cost— 11 
Projected benefit obligation - ending$633 $633 
Reconciliation of funded status:
Projected benefit obligation$(633)$(633)
Fair value of assets— — 
Funded status included in other liabilities$(633)$(633)
Valuation assumptions
Discount rate— %3.00 %
Salary increase rateN/AN/A
Schedule of Expected Benefit Payments
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
Benefit Payments
(In Thousands)
Years ending June 30:
2025$150 
2026151 
2027147 
2028143 
2029138 
2030-2034619 
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
Benefit Payments
(In Thousands)
Years ending June 30:
2025$243 
2026238 
2027232 
2028225 
2029218 
2030-2034973 
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
Benefit Payments
(In Thousands)
Years ending June 30:
2025$59 
202672 
202780 
202898 
2029113 
2030-2034572 
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
Benefit Payments
(In Thousands)
Years ending June 30:
2025$101 
2026122 
2027143 
2028163 
2029213 
2030-20341,334 
The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid:
Benefit Payments
(In Thousands)
Years ending June 30:
2025$— 
2026— 
2027— 
2028— 
2029— 
2030-2034633 
Schedule of Fair Value of ABRIP's Assets
The fair value of the ABRIP’s assets at June 30, 2024 and 2023 by asset category (see Note 18 for the definitions of levels), are as follows:
June 30, 2024
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
(In Thousands)
Prudential Guaranteed Deposit Fund$— $2,649 $— $2,649 
June 30, 2023
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)		Significant
Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Total
(In Thousands)
Prudential Guaranteed Deposit Fund$— $2,717 $— $2,717