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Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Jun. 30, 2022

Categories of Loans

Classes of loans at June 30, include:

		2022				2021
Real estate loans
One- to four-family, including home equity loans		$	132,474			$	117,435
Multi-family			88,247				104,433
Commercial			167,375				155,884
Home equity lines of credit			6,987				6,688
Construction			41,254				25,345
Commercial			80,418				103,088
Consumer			8,981				7,653
			525,736				520,526
Less
Unearned fees and discounts, net			(247	)			556
Allowance for loan losses			7,052				6,599
Loans, net		$	518,931			$	513,371

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, 2022 and 2021:

		2022
		Real Estate Loans
		One- to four- family				Multi-family				Commercial				Home Equity Lines of Credit
Allowance for loan losses:
Balance, beginning of year		$	967			$	1,674			$	1,831			$	67
Provision charged to expense			100				(299	)			154				3
Losses charged off			(40	)			—				—				—
Recoveries			1				—				—				—
Balance, end of period		$	1,028			$	1,375			$	1,985			$	70
Ending balance: individually evaluated for impairment		$	—			$	—			$	—			$	—
Ending balance: collectively evaluated for impairment		$	1,028			$	1,375			$	1,985			$	70
Loans:
Ending balance		$	132,474			$	88,247			$	167,375			$	6,987
Ending balance: individually evaluated for impairment		$	1,350			$	—			$	—			$	—
Ending balance: collectively evaluated for impairment		$	131,124			$	88,247			$	167,375			$	6,987

		2022 (Continued)
		Construction				Commercial				Consumer				Total
Allowance for loan losses:
Balance, beginning of year		$	258			$	1,740			$	62			$	6,599
Provision charged to expense			231				265				38				492
Losses charged off			—				—				(27	)			(67	)
Recoveries			—				20				7				28
Balance, end of year		$	489			$	2,025			$	80			$	7,052
Ending balance: individually evaluated for impairment		$	—			$	—			$	—			$	—
Ending balance: collectively evaluated for impairment		$	489			$	2,025			$	80			$	7,052
Loans:
Ending balance		$	41,254			$	80,418			$	8,981			$	525,736
Ending balance: individually evaluated for impairment		$	—			$	35			$	—			$	1,385
Ending balance: collectively evaluated for impairment		$	41,254			$	80,383			$	8,981			$	524,351

		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

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, 2022 and 2021, based on rating category and payment activity:

		Real Estate Loans
June 30, 2022		One- to four-family				Multi-family				Commercial				Home Equity Lines of Credit				Construction
Pass		$	130,950			$	87,993			$	164,424			$	6,987			$	41,254
Watch			—				—				—				—				—
Substandard			1,524				254				2,951				—				—
Doubtful			—				—				—				—				—
Loss			—				—				—				—				—
Total		$	132,474			$	88,247			$	167,375			$	6,987			$	41,254
June 30, 2022, (Continued)		Commercial				Consumer				Total
Pass		$	73,226			$	8,970			$	513,804
Watch			—				—				—
Substandard			7,192				11				11,932
Doubtful			—				—				—
Loss			—				—				—
Total		$	80,418			$	8,981			$	525,736

		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

Association's Loan Portfolio Aging Analysis

The following tables present the Company’s loan portfolio aging analysis as of June 30, 2022 and 2021:

		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, 2022
Real estate loans:
One- to four-family		$	374			$	144			$	1,174			$	1,692			$	130,782			$	132,474			$	47
Multi-family			—				—				—				—				88,247				88,247				—
Commercial			—				—				—				—				167,375				167,375				—
Home equity lines of credit			—				—				—				—				6,987				6,987				—
Construction			—				—				—				—				41,254				41,254				—
Commercial			—				—				—				—				80,418				80,418				—
Consumer			78				21				—				99				8,882				8,981				—
Total		$	452			$	165			$	1,174			$	1,791			$	523,945			$	525,736			$	47
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

Summary of Impaired Loans

The following tables present impaired loans for year ended June 30, 2022 and 2021:

		June 30, 2022
		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		$	1,350			$	1,350			$	—			$	1,361			$	15			$	13
Multi-family			—				—				—				—				—				—
Commercial			—				—				—				—				—				—
Home equity lines of credit			—				—				—				—				—				—
Construction			—				—				—				—				—				—
Commercial			35				35				—				40				4				4
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		$	1,350			$	1,350			$	—			$	1,361			$	15			$	13
Multi-family			—				—				—				—				—				—
Commercial			—				—				—				—				—				—
Home equity lines of credit			—				—				—				—				—				—
Construction			—				—				—				—				—				—
Commercial			35				35				—				40				4				4
Consumer			—				—				—				—				—				—
Total		$	1,385			$	1,385			$	—			$	1,401			$	19			$	17

		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

Loans Modified as Troubled Debt Restructurings

The following table presents the Company’s nonaccrual loans at June 30, 2022 and 2021:

		2022				2021
Real estate loans
One- to four-family, including home equity loans		$	1,127			$	34
Multi-family			—				—
Commercial			—				—
Home equity lines of credit			—				—
Construction			—				—
Commercial			—				—
Consumer			—				—
Total		$	1,127			$	34

Nonaccrual 1 [Member]

Nonaccrual Loans

The following table presents the Company’s nonaccrual loans at June 30, 2022 and 2021:

		2022				2021
Real estate loans
One- to four-family, including home equity loans		$	1,127			$	34
Multi-family			—				—
Commercial			—				—
Home equity lines of credit			—				—
Construction			—				—
Commercial			—				—
Consumer			—				—
Total		$	1,127			$	34

Nonaccrual 2 [Member]

Nonaccrual Loans

The following table presents the recorded balance, at original cost, of troubled debt restructurings, as of June 30, 2022 and 2021. All were performing according to the terms of the restructuring as of June 30, 2022, and with the exception of a single one- to four-family loan for $118,000, all loans were performing according to the terms of restructuring as of June 30, 2021. All loans listed as of both June 30, 2022 and 2021 were accruing.

		June 30, 2022				June 30, 2021
Real estate loans
One- to four-family		$	962			$	1,218
Multi-family			—				—
Commercial			—				—
Home equity lines of credit			—				—
Total real estate loans			962				1,218
Construction			—				—
Commercial			36				46
Consumer			—				—
Total		$	998			$	1,264

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