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Premises and Equipment

12 Months Ended

Jun. 30, 2020

Premises and Equipment

Premises and Equipment

Note 6: Premises and Equipment

Premises and equipment at June 30, 2020 and 2019 consisted of the following:

		June 30,
(In Thousands)		2020			2019
Land		$	2,853		$	2,853
Buildings			9,734			9,759
Leasehold improvements			3,243			3,252
Furniture and equipment			5,290			5,438
Automobiles			167			170
Operating lease – right of use assets(1)			2,525			—
			23,812			21,472
Less accumulated depreciation and amortization			(13,558)			(13,246)
Total premises and equipment, net		$	10,254		$	8,226

(1) Net of accumulated amortization.

Depreciation and amortization expense for the years ended June 30, 2020 and 2019 amounted to $1.5 million and $881,000, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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