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Deposits

12 Months Ended

Jun. 30, 2023

Deposits

Deposits

Note 6: Deposits

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Deposits at June 30, 2023 and 2022 consisted of the following:

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	June 30, 2023				​	June 30, 2022
(Dollars in Thousands)		Interest Rate		Amount			Interest Rate		Amount
Checking deposits – noninterest-bearing		—	​	$	103,006		—	​	$	125,089	​
Checking deposits – interest-bearing(1)		0.00% - 0.20%	​		302,872		0.00% - 0.20%	​		335,788	​
Savings deposits(1)		0.00% - 0.70%	​		290,204		0.00% - 0.70%	​		333,581	​
Money market deposits(1)		0.00% - 2.00%	​		33,551		0.00% - 2.00%	​		39,897	​
Time deposits:			​					​			​
Under $100(1)(2)		0.00% - 5.25%	​		154,316		0.00% - 2.13%	​		60,721	​
$100 and over		0.07% - 5.35%	​		66,622		0.05% - 2.13%	​		60,428	​
Total deposits(3)	​	​	​	$	950,571		​	​	$	955,504	​
Weighted-average interest rate on deposits		​	​		0.73	%	​	​		0.11	%

​

(1) Certain interest-bearing checking, savings, money market and time deposits require a minimum balance to earn interest.

(2) Includes brokered certificates of deposit of $106.4 million and $0 at June 30, 2023 and 2022, respectively.

(3) Includes uninsured deposits of approximately $140.1 million and $173.7 million at June 30, 2023 and 2022, respectively.

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The aggregate annual maturities of time deposits at June 30, 2023 and 2022 were as follows:

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​	​	​	​	​	​	​
​	​	June 30,
(In Thousands)		2023			2022
One year or less	​	$	166,501	​	$	78,644
Over one to two years	​		37,062	​		20,600
Over two to three years	​		9,922	​		13,890
Over three to four years	​		3,069	​		3,552
Over four to five years	​		2,578	​		3,186
Over five years	​		1,806	​		1,277
Total time deposits	​	$	220,938	​	$	121,149

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Interest expense on deposits for the years indicated is summarized as follows:

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​	​	​	​	​	​	​
​	​	Year Ended June 30,
(In Thousands)		2023			2022
Checking deposits – interest-bearing	​	$	140	​	$	149
Savings deposits	​		168	​		172
Money market deposits	​		87	​		71
Time deposits	​		2,751	​		752
Total interest expense on deposits	​	$	3,146	​	$	1,144

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At June 30, 2023, the Bank had related party deposits of approximately $8.1 million, compared to $6.6 million at June 30, 2022. At June 30, 2023 and 2022, deposits with negative balances (i.e. overdrafts) that were reclassified to loans held for investment totaled $15,000 and $32,000, respectively. The Bank is required to maintain reserve balances with the Federal Reserve Bank of San Francisco. Effective March 26, 2020, the FRB lowered the reserve ratios on transaction accounts maintained at a depository institution to zero percent so there was no required reserve balance at June 30, 2023 and 2022.

X

- 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 https://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 https://asc.fasb.org/extlink&oid=126897435&loc=d3e534808-122878

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph (e)

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1406

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X

- References

No definition available.

+ Details

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