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Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Jun. 30, 2021

Categories of Loans

Classes of loans at June 30, include:

		2021				2020
Real estate loans
One- to four-family, including home equity loans		$	117,435			$	128,876
Multi-family			104,433				96,195
Commercial			155,884				145,113
Home equity lines of credit			6,688				8,551
Construction			25,345				22,042
Commercial			103,088				107,581
Consumer			7,653				7,529
			520,526				515,887
Less
Unearned fees and discounts, net			556				(164	)
Allowance for loan losses			6,599				6,234
Loans, net		$	513,371			$	509,817

Allowance for Loan Losses and Recorded Investment in Loans Based on Portfolio Segment and Impairment Method

The following tables present the balance in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of June 30, 2021 and 2020:

		2021
		Real Estate Loans
		One- to four- family				Multi-family				Commercial				Home Equity Lines of Credit
Allowance for loan losses:
Balance, beginning of year		$	1,044			$	1,514			$	1,706			$	87
Provision charged to expense			(64	)			160				125				(20	)
Losses charged off			(15	)			—				—				—
Recoveries			2				—				—				—
Balance, end of period		$	967			$	1,674			$	1,831			$	67
Ending balance: individually evaluated for impairment		$	—			$	—			$	—			$	—
Ending balance: collectively evaluated for impairment		$	967			$	1,674			$	1,831			$	67
Loans:
Ending balance		$	117,435			$	104,433			$	155,884			$	6,688
Ending balance: individually evaluated for impairment		$	1,252			$	—			$	—			$	—
Ending balance: collectively evaluated for impairment		$	116,183			$	104,433			$	155,884			$	6,688
		2021 (Continued)
		Construction				Commercial				Consumer				Total
Allowance for loan losses:
Balance, beginning of year		$	240			$	1,583			$	60			$	6,234
Provision charged to expense			18				611				14				844
Losses charged off			—				(473	)			(25	)			(513	)
Recoveries			—				19				13				34
Balance, end of year		$	258			$	1,740			$	62			$	6,599
Ending balance: individually evaluated for impairment		$	—			$	—			$	—			$	—
Ending balance: collectively evaluated for impairment		$	258			$	1,740			$	62			$	6,599
Loans:
Ending balance		$	25,345			$	103,088			$	7,653			$	520,526
Ending balance: individually evaluated for impairment		$	—			$	46			$	—			$	1,298
Ending balance: collectively evaluated for impairment		$	25,345			$	103,042			$	7,653			$	519,228

		2020
		Real Estate Loans
		One- to four- family				Multi-family				Commercial				Home Equity Lines of Credit
Allowance for loan losses:
Balance, beginning of year		$	1,031			$	1,642			$	1,623			$	89
Provision charged to expense			50				(128	)			83				(2	)
Losses charged off			(40	)			—				—				—
Recoveries			3				—				—				—
Balance, end of period		$	1,044			$	1,514			$	1,706			$	87
Ending balance: individually evaluated for impairment		$	—			$	—			$	—			$	—
Ending balance: collectively evaluated for impairment		$	1,044			$	1,514			$	1,706			$	87
Loans:
Ending balance		$	128,876			$	96,195			$	145,113			$	8,551
Ending balance: individually evaluated for impairment		$	1,336			$	—			$	—			$	15
Ending balance: collectively evaluated for impairment		$	127,540			$	96,195			$	145,113			$	8,536
		2020 (Continued)
		Construction				Commercial				Consumer				Total
Allowance for loan losses:
Balance, beginning of year		$	213			$	1,659			$	71			$	6,328
Provision charged to expense			27				84				14				128
Losses charged off			—				(191	)			(37	)			(268	)
Recoveries			—				31				12				46
Balance, end of year		$	240			$	1,583			$	60			$	6,234
Ending balance: individually evaluated for impairment		$	—			$	—			$	—			$	—
Ending balance: collectively evaluated for impairment		$	240			$	1,583			$	60			$	6,234
Loans:
Ending balance		$	22,042			$	107,581			$	7,529			$	515,887
Ending balance: individually evaluated for impairment		$	—			$	304			$	5			$	1,660
Ending balance: collectively evaluated for impairment		$	22,042			$	107,277			$	7,524			$	514,227

Credit Risk Profile of Association's Loan Portfolio Based on Rating Category and Payment Activity

The following tables present the credit risk profile of the Company’s loan portfolio, as of June 30, 2021 and 2020, based on rating category and payment activity:

		Real Estate Loans
June 30, 2021		One- to four- family				Multi- family				Commercial				Home Equity Lines of Credit				Construction
Pass		$	116,980			$	104,170			$	154,833			$	6,688			$	25,345
Watch			—				—				954				—				—
Substandard			455				263				97				—				—
Doubtful			—				—				—				—				—
Loss			—				—				—				—				—
Total		$	117,435			$	104,433			$	155,884			$	6,688			$	25,345
June 30, 2021, (Continued)		Commercial				Consumer				Total
Pass		$	97,078			$	7,652			$	512,746
Watch			5,964				1				6,919
Substandard			46				—				861
Doubtful			—				—				—
Loss			—				—				—
Total		$	103,088			$	7,653			$	520,526

		Real Estate Loans
June 30, 2020		One- to four- family				Multi -family				Commercial				Home Equity Lines of Credit				Construction
Pass		$	127,279			$	95,925			$	143,727			$	8,402			$	22,042
Watch			775				—				1,073				134				—
Substandard			822				270				313				15				—
Doubtful			—				—				—				—				—
Loss			—				—				—				—				—
Total		$	128,876			$	96,195			$	145,113			$	8,551			$	22,042
June 30, 2020, (Continued)		Commercial				Consumer				Total
Pass		$	105,605			$	7,524			$	510,504
Watch			1,651				—				3,633
Substandard			81				5				1,506
Doubtful			244				—				244
Loss			—				—				—
Total		$	107,581			$	7,529			$	515,887

Association's Loan Portfolio Aging Analysis

The following tables present the Company’s loan portfolio aging analysis as of June 30, 2021 and 2020:

		30-59 Days Past Due				60-89 Days Past Due				Greater Than 90 Days				Total Past Due				Current				Total Loans Receivable				Total Loans > 90 Days & Accruing
June 30, 2021
Real estate loans:
One- to four-family		$	320			$	52			$	152			$	524			$	116,911			$	117,435			$	118
Multi-family			—				—				—				—				104,433				104,433				—
Commercial			86				—				—				86				155,798				155,884				—
Home equity lines of credit			55				—				—				55				6,633				6,688				—
Construction			—				—				—				—				25,345				25,345				—
Commercial			9				—				—				9				103,079				103,088				—
Consumer			6				—				—				6				7,647				7,653				—
Total		$	476			$	52			$	152			$	680			$	519,846			$	520,526			$	118
June 30, 2020
Real estate loans:
One- to four-family		$	1,034			$	225			$	385			$	1,644			$	127,232			$	128,876			$	304
Multi-family			—				—				—				—				96,195				96,195				—
Commercial			172				95				—				267				144,846				145,113				—
Home equity lines of credit			—				—				—				—				8,551				8,551				—
Construction			—				—				—				—				22,042				22,042				—
Commercial			—				4				244				248				107,333				107,581				—
Consumer			24				43				—				67				7,462				7,529				—
Total		$	1,230			$	367			$	629			$	2,226			$	513,661			$	515,887			$	304

Summary of Impaired Loans

The following tables present impaired loans for year ended June 30, 2021 and 2020:

		June 30, 2021
		Recorded Balance				Unpaid Principal Balance				Specific Allowance				Average Investment in Impaired Loans				Interest Income Recognized				Interest on Cash Basis
Loans without a specific allowance:
Real estate loans:
One- to four-family		$	1,252			$	1,252			$	—			$	1,271			$	67			$	50
Multi-family			—				—				—				—				—				—
Commercial			—				—				—				—				—				—
Home equity lines of credit			—				—				—				—				—				—
Construction			—				—				—				—				—				—
Commercial			46				46				—				265				19				23
Consumer			—				—				—				—				—				—
Loans with a specific allowance:
Real estate loans:
One- to four-family		$	—			$	—			$	—			$	—			$	—			$	—
Multi-family			—				—				—				—				—				—
Commercial			—				—				—				—				—				—
Home equity lines of credit			—				—				—				—				—				—
Construction			—				—				—				—				—				—
Commercial			—				—				—				—				—				—
Consumer			—				—				—				—				—				—
Total:
Real estate loans:
One- to four-family		$	1,252			$	1,252			$	—			$	1,271			$	67			$	50
Multi-family			—				—				—				—				—				—
Commercial			—				—				—				—				—				—
Home equity lines of credit			—				—				—				—				—				—
Construction			—				—				—				—				—				—
Commercial			46				46				—				265				19				23
Consumer			—				—				—				—				—				—
Total		$	1,298			$	1,298			$	—			$	1,536			$	86			$	73

		June 30, 2020
		Recorded Balance				Unpaid Principal Balance				Specific Allowance				Average Investment in Impaired Loans				Interest Income Recognized				Interest on Cash Basis
Loans without a specific allowance:
Real estate loans:
One- to four-family		$	1,336			$	1,336			$	—			$	1,388			$	61			$	62
Multi-family			—				—				—				—				—				—
Commercial			—				—				—				3				—				—
Home equity lines of credit			15				15				—				18				—				—
Construction			—				—				—				—				—				—
Commercial			304				304				—				382				23				25
Consumer			5				5				—				9				—				—
Loans with a specific allowance:
Real estate loans:
One- to four-family		$	—			$	—			$	—			$	—			$	—			$	—
Multi-family			—				—				—				—				—				—
Commercial			—				—				—				—				—				—
Home equity lines of credit			—				—				—				—				—				—
Construction			—				—				—				—				—				—
Commercial			—				—				—				—				—				—
Consumer			—				—				—				—				—				—
Total:
Real estate loans:
One- to four-family		$	1,336			$	1,336			$	—			$	1,388			$	61			$	62
Multi-family			—				—				—				—				—				—
Commercial			—				—				—				3				—				—
Home equity lines of credit			15				15				—				18				—				—
Construction			—				—				—				—				—				—
Commercial			304				304				—				382				23				25
Consumer			5				5				—				9				—				—
Total		$	1,660			$	1,660			$	—			$	1,800			$	84			$	87

Loans Modified as Troubled Debt Restructurings

The following table represents loans modified as troubled debt restructurings during the years ending June 30, 2021 and 2020:

		Year Ended June 30, 2021								Year Ended June 30, 2020
		Number of Modifications				Recorded Investment				Number of Modifications				Recorded Investment
Real estate loans:
One- to four-family			—			$	—				—			$	—
Home equity lines of credit			—				—				—				—
Multi-family			—				—				—				—
Commercial			—				—				—				—
Total real estate loans			—				—				—				—
Construction			—				—				—				—
Commercial			—				—				1				61
Consumer loans			—				—				—				—
Total			—			$	—				1			$	61

Nonaccrual 1 [Member]

Nonaccrual Loans

The following table presents the Company’s nonaccrual loans at June 30, 2021 and 2020:

		2021				2020
Real estate loans
One- to four-family, including home equity loans		$	34			$	81
Multi-family			—				—
Commercial			—				—
Home equity lines of credit			—				15
Construction			—				—
Commercial			—				304
Consumer			—				5
Total		$	34			$	405

Nonaccrual 2 [Member]

Nonaccrual Loans

The following table presents the recorded balance, at original cost, of troubled debt restructurings, as of June 30, 2021 and 2020. With the exception of a single one- to four-family loan in the amount of $118,000, all were performing according to the terms of the restructuring as of June 30, 2021, and with the exception of a single one- to four-family loan for $127,000, all loans were performing according to the terms of restructuring as of June 30, 2020. As of June 30, 2021 all loans listed were accruing. As of June 30, 2020 all loans listed were on nonaccrual except for nine one- to four-family residential loans totaling $1.3 million.

		June 30, 2021				June 30, 2020
Real estate loans
One- to four-family		$	1,218			$	1,256
Multi-family			—				—
Commercial			—				—
Home equity lines of credit			—				15
Total real estate loans			1,218				1,271
Construction			—				—
Commercial			46				59
Consumer			—				—
Total		$	1,264			$	1,330

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