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Federal Home Loan Bank Stock
3 Months Ended
Sep. 30, 2022
Federal Home Loan Banks [Abstract]  
Federal Home Loan Bank Stock
Note 7: Federal Home Loan Bank Stock
Federal Home Loan Bank stock is a required investment for institutions that are members of the Federal Home Loan Bank system. The required investment in the common stock is based on a predetermined formula. The Company owned approximately $3,340,000 and $3,142,000 of Federal Home Loan Bank stock as of September 30, 2022 and June 30, 2022, respectively. The FHLB provides liquidity and funding through advances.