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INCOME TAXES (Tables)

3 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation between the reported income taxes for the periods presented and the income taxes which would be computed by applying the federal income tax rate of 21% to income for the three months ended September 30, 2024 and 2023:

			Three Months Ended September 30,
			2024						2023
			(Dollars in Thousands)
Income before income taxes			$	7,178					$	13,151
Statutory federal tax rate			21		%				21		%
Federal income tax at statutory rate			$	1,507					$	2,762
(Reduction) increase in income taxes resulting from:
Tax exempt interest			(14)						(18)
State tax, net of federal tax effect			186						778
Incentive stock option compensation expense			—						3
Income from bank-owned life insurance			(539)						(350)
Other items, net			(54)						134
Total income tax expense			$	1,086					$	3,309
Effective income tax rate			15.13		%				25.16		%

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- References

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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