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FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

6 Months Ended

Dec. 31, 2023

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, 2023 and June 30, 2023.

		December 31, 2023
(In thousands)		Carrying  Value				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	15,724			$	15,724			$	-			$	-			$	15,724
Securities available for sale			132				-				132				-				132
Securities held to maturity			149,117				-				136,427				-				136,427
Federal Home Loan Bank of Boston stock			950				-				-				950				950
Loans, net			174,974				-				-				155,651				155,651
Accrued interest receivable			1,467				-				-				1,467				1,467
Liabilities:
Deposits			257,940				-				-				239,860				239,860
Short-term borrowings			8,800				-				-				8,800				8,800
Long-term borrowings			10,300				-				-				10,329				10,329
		June 30, 2023
(In thousands)		Carrying  Value				Level 1				Level 2				Level 3				Total
Assets:
Cash and cash equivalents		$	6,861			$	6,861			$	-			$	-			$	6,861
Securities available for sale			146				-				146				-				146
Securities held to maturity			147,902				-				132,273				-				132,273
Federal Home Loan Bank of Boston stock			381				-				-				381				381
Loans, net			175,911				-				-				157,505				157,505
Accrued interest receivable			1,363				-				-				1,363				1,363
Liabilities:
Deposits			263,376				-				-				241,711				241,711
Short-term borrowings			3,675				-				-				3,667				3,667

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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
-Name Accounting Standards Codification
-Section 50
-Paragraph 2C
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- References

No definition available.

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