Holding Company Condensed Financial Information (Tables)

12 Months Ended

Jun. 30, 2020


	June 30,
(In Thousands)	2020		2019

Assets
Cash and cash equivalents	$	6,842	$	5,421
Investment in subsidiary		117,080		115,185
Other assets		108		131
	$	124,030	$	120,737

Liabilities and Stockholders’ Equity
Other liabilities	$	54	$	96
Stockholders’ equity		123,976		120,641
	$	124,030	$	120,737


	Year Ended June 30,
(In Thousands)	2020		2019

Dividend from the Bank	$	7,500	$	7,500
Interest and other income		19		17
Total income		7,519		7,517

General and administrative expenses		1,166		1,209
Earnings before income taxes and equity in undistributed earnings of the Bank		6,353		6,308

Income tax benefit		(338)		(352)
Earnings before equity in undistributed earnings of the Bank		6,691		6,660

Equity in undistributed earnings of the Bank		998		(2,243)
Net income	$	7,689	$	4,417


	Year Ended June 30,
(In Thousands)	2020		2019

Cash flow from operating activities:
Net income	$	7,689	$	4,417
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of the Bank		(998)		2,243
Decrease (increase) in other assets		23		(8)
(Decrease) increase in other liabilities		(42)		33
Net cash provided by operating activities		6,672		6,685

Cash flow from financing activities:
Exercise of stock options		215		553
Treasury stock purchases		(1,283)		(1,412)
Cash dividends		(4,183)		(4,194)
Net cash used for financing activities		(5,251)		(5,053)
Net increase in cash and cash equivalents		1,421		1,632
Cash and cash equivalents at beginning of year		5,421		3,789
Cash and cash equivalents at end of year	$	6,842	$	5,421