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FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

6 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Summary Of Generally Accepted Accounting Principles

The following table summarizes financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2022 and June 30, 2022.

		December 31, 2022
(In thousands)		Carrying  Value				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	10,574			$	10,574			$	-			$	-			$	10,574
Securities available for sale			168				-				168				-				168
Securities held to maturity			149,473				-				132,624				-				132,624
Federal Home Loan Bank of Boston stock			191				-				-				191				191
Loans, net			178,569				-				-				161,781				161,781
Accrued interest receivable			1,303				-				-				1,303				1,303
Liabilities:
Deposits			275,462				-				-				259,368				259,368
		June 30, 2022
(In thousands)		Carrying  Value				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	31,667			$	31,667			$	-			$	-			$	31,667
Securities available for sale			199				-				199				-				199
Securities held to maturity			145,239				-				133,593				-				133,593
Federal Home Loan Bank of Boston stock			191				-				-				191				191
Loans, net			172,593				-				-				161,098				161,098
Accrued interest receivable			1,265				-				-				1,265				1,265
Liabilities:
Deposits			287,075				-				-				268,039				268,039

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- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI https://asc.fasb.org/extlink&oid=126976982&loc=SL7498348-110258

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- References

No definition available.

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