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Deposits | 12 Months Ended
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Jun. 30, 2020
Capital |
Deposits | Note 7: Deposits Deposits at June 30, 2020 and 2019 consisted of the following:
|  | June 30, 2020 |  | June 30, 2019 |
(Dollars in Thousands) |  | Interest Rate |  | Amount |  | Interest Rate |  | Amount |
Checking deposits – non interest-bearing |  | — |  | $ | 118,771 |  | — |  | $ | 90,184 |
Checking deposits – interest-bearing(1) |  | 0% - 0.25 | % |  | 290,463 |  | 0% - 0.30 | % |  | 257,909 |
Savings deposits(1) |  | 0% - 1.00 | % |  | 273,769 |  | 0% - 1.29 | % |  | 264,387 |
Money market deposits(1) |  | 0% - 2.00 | % |  | 39,989 |  | 0% - 2.00 | % |  | 35,646 |
Time deposits:(1) |  |  |  |  |  |  |  |  |  |  |
Under $100 |  | 0.00% - 2.13 | % |  | 82,180 |  | 0.00% - 2.13 | % |  | 94,200 |
$100 and over |  | 0.15% - 2.13 | % |  | 87,797 |  | 0.15% - 2.52 | % |  | 98,945 |
Total deposits |  |  |  | $ | 892,969 |  |  |  | $ | 841,271 |
Weighted-average interest rate on deposits |  |  |  |  | 0.26 | % |  |  |  | 0.37 | %
| (1) |  | Certain interest-bearing checking, savings, money market and time deposits require a minimum balance to earn interest.
The aggregate annual maturities of time deposits at June 30, 2020 and 2019 were as follows:
|  | June 30,
(In Thousands) |  | 2020 |  | 2019
One year or less |  | $ | 90,576 |  | $ | 106,080
Over one to two years |  |  | 33,995 |  |  | 37,117
Over two to three years |  |  | 25,937 |  |  | 26,334
Over three to four years |  |  | 8,184 |  |  | 15,135
Over four to five years |  |  | 10,350 |  |  | 7,784
Over five years |  |  | 935 |  |  | 695
Total time deposits |  | $ | 169,977 |  | $ | 193,145
Interest expense on deposits for the periods indicated is summarized as follows:
|  | Year Ended June 30,
(In Thousands) |  | 2020 |  | 2019
Checking deposits – interest-bearing |  | $ | 314 |  | $ | 305
Savings deposits |  |  | 496 |  |  | 572
Money market deposits |  |  | 110 |  |  | 123
Time deposits |  |  | 2,023 |  |  | 2,381
Total interest expense on deposits |  | $ | 2,943 |  | $ | 3,381
The Bank is required to maintain reserve balances with the Federal Reserve Bank of San Francisco. Such reserves are calculated based on deposit balances and are offset by the cash balances maintained by the Bank. The cash balances maintained by the Bank at June 30, 2020 and 2019 were sufficient to cover the reserve requirements.

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- Definition The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 405 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116652737&loc=d3e64164-112818 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.12) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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