Condensed Financial Information (Parent Company Only) (Tables)

12 Months Ended

Jun. 30, 2021

Condensed Financial Information Disclosure [Abstract]

Presented below is condensed financial information as to financial position, results of operations and cash flows of the Company as of and for the years ended June 30, 2021 and 2020:

Condensed Balance Sheets


	June 30,		June 30,
	2021		2020
Assets
Cash and due from banks	$	5,679	$	2,592
Investment in common stock of subsidiary		80,472		80,631
ESOP loan		2,279		2,469

Total assets	$	88,430	$	85,692

Liabilities
Line of credit	$	3,000	$	3,000
Interest payable		19		31
Other liabilities		107		97

Total liabilities		3,126		3,128

Stockholders’ Equity		85,304		82,564

Total liabilities and stockholders’ equity	$	88,430	$	85,692

Condensed Statement of Income and Comprehensive Income


	Year Ending June 30,			Year Ending June 30,
	2021			2020
Income
Interest on ESOP loan	$	78		$	141
Deposits with financial institutions		—			—

Total income		78			141
Expense
Interest on line of credit		76			133
Other expenses		181			203

Total expense		257			336
Loss Before Income Tax and Equity in Undistributed Income of Subsidiary		(179	)		(195	)
Benefit for Income Taxes		(51	)		(54	)

Loss Before Equity in Undistributed Loss of Subsidiary		(128	)		(141	)
Equity in Undistributed Income of Subsidiary		5,475			4,386

Net Income	$	5,347		$	4,245

Comprehensive Income	$	3,077		$	7,883

Condensed Statement of Cash Flows


	Year Ended June 30,			Year Ended June 30,
	2021			2020
Cash flows from operating activities
Net income	$	5,347		$	4,245

Items not requiring (providing) cash
Net change accrued interest payable		(12	)		31
Net change in other liabilities		10			(48	)
Earnings from subsidiary		(5,475	)		(4,386	)

Net cash used in operating activities		(130	)		(158	)

Cash flows from financing activities
Stock purchase per stock repurchase plan		—			(7,459	)
Dividends paid		(973	)		(1,008	)
Dividends received		4,000			4,000
Loan for ESOP		190			159
Proceeds from CIBC line of credit		—			5,000
Repayment of CIBC line of credit		—			(2,000	)

Net cash provided by (used in) financing activities		3,217			(1,308	)

Net Change in Cash and Cash Equivalents		3,087			(1,466	)
Cash and Cash Equivalents at Beginning of Year		2,592			4,058

Cash and Cash Equivalents at End of Year	$	5,679		$	2,592