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Consolidated Statements of Changes in Stockholders' Equity and Retained Earnings (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Unearned Compensation ESOP [Member]
Beginning Balance (in shares) at Jun. 30, 2022   6,521,642        
Beginning Balance at Jun. 30, 2022 $ 74,250 $ 65 $ 27,720 $ 48,970   $ (2,505)
Net income 986     986    
Other comprehensive income (2)       $ (2)  
ESOP shares committed to be released 45   (6)     51
Ending Balance (in shares) at Dec. 31, 2022   6,521,642        
Ending Balance at Dec. 31, 2022 75,279 $ 65 27,714 49,956 (2) (2,454)
Beginning Balance (in shares) at Sep. 30, 2022   6,521,642        
Beginning Balance at Sep. 30, 2022 74,917 $ 65 27,718 49,615 1 (2,480)
Net income 341     341    
Other comprehensive income (1)       (1)  
ESOP shares committed to be released 22   (4)     26
Ending Balance (in shares) at Dec. 31, 2022   6,521,642        
Ending Balance at Dec. 31, 2022 75,279 $ 65 27,714 49,956 (2) (2,454)
Beginning Balance (in shares) at Jun. 30, 2023   6,632,642        
Beginning Balance at Jun. 30, 2023 75,889 $ 65 27,814 50,416 (3) (2,403)
Net income (87)     (87)    
Other comprehensive income 2       2  
Stock-based compensation 179   179      
Cumulative effect accounting adjustment [1] (223)     (223)    
ESOP shares committed to be released 35   (17)     52
Ending Balance (in shares) at Dec. 31, 2023   6,632,642        
Ending Balance at Dec. 31, 2023 75,795 $ 65 27,976 50,106 (1) (2,351)
Beginning Balance (in shares) at Sep. 30, 2023   6,632,642        
Beginning Balance at Sep. 30, 2023 75,897 $ 65 27,896 50,316 (3) (2,377)
Net income (210)     (210)    
Other comprehensive income 2       2  
Stock-based compensation 89   89      
ESOP shares committed to be released 17   (9)     26
Ending Balance (in shares) at Dec. 31, 2023   6,632,642        
Ending Balance at Dec. 31, 2023 $ 75,795 $ 65 $ 27,976 $ 50,106 $ (1) $ (2,351)
[1]

(1) Represents adjustment needed to reflect the cumulative impact on retained earnings pursuant to the Company's adoption of Accounting Standards Update 2016-13. The adjustment presented includes $12,000 ($9,000, net of tax) attributable to the change in accounting methodology for estimating the allowance for credit losses related to loans, $276,000 ($198,000, net of tax) attributable to the change in accounting methodology for estimating the allowance for credit losses related to securities held to maturity and $23,000 ($16,000, net of tax) related to the reserve for off-balance sheet exposures resulting from the Company's adoption of the standard. Amount shown in the table above is presented net of tax.