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Disclosures about Fair Value of Assets (Tables)

3 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements of Assets Recognized on Recurring Basis

The following table presents the fair value measurements of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2022 and June 30, 2022:​​​​​​​

						Fair Value Measurements Using
		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
September 30, 2022:
Available-for-sale securities:
U.S. Treasury		$	3,364			$	—			$	3,364			$	—
U.S. Government and federal agency and Government sponsored enterprises (GSE’s)			8,854				—				8,854				—
Mortgage-backed: GSE residential			175,427				—				175,427				—
Small Business Administration			15,233				—				15,233				—
State and political subdivisions			3,741				—				1,079				2,662
Mortgage servicing rights			1,553				—				—				1,553

						Fair Value Measurements Using
		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
June 30, 2022:
Available-for-sale securities:
U.S. Treasury		$	3,400			$	—			$	3,400			$	—
U.S. Government and federal agency and Government sponsored enterprises (GSE’s)			9,121				—				9,121				—
Mortgage-backed: GSE residential			188,185				—				188,185				—
Small Business Administration			16,442				—				16,442				—
State and political subdivisions			3,758				—				1,096				2,662
Mortgage servicing rights			1,463				—				—				1,463

Reconciliation of Beginning and Ending Balances of Recurring Fair Value Measurements Recognized in Accompanying Balance Sheet

The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying balance sheet using significant unobservable (Level 3) inputs:

		State and Political Subdivision
Balance, July 1, 2022		$	2,662
Transfers into Level 3			—
Transfers out of Level 3			—
Total realized and unrealized gains and losses included in net income			—
Purchases			—
Sales			—
Settlements			—
Balance, September 30, 2022		$	2,662
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date		$	—

		Mortgage Servicing Rights
Balance, July 1, 2022		$	1,463
Total realized and unrealized gains and losses included in net income			130
Servicing rights that result from asset transfers			17
Payments received and loans refinanced			(57	)
Balance, September 30, 2022		$	1,553
Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date		$	130

Quantitative Information about Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements

The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements at September 30, 2022 and June 30, 2022.

		Fair Value at September 30, 2022				Valuation Technique		Unobservable Inputs		Range (Weighted Average)
Mortgage servicing rights		$	1,553			Discounted cash flow		Discount rate Constant prepayment rate Probability of default		9.5% (9.5%) 6.1% - 6.9% (6.6%) 0.10% - 0.14% (0.12%)
State and political subdivision		$	2,662			Discounted cash flow		Maturity/Call Date Weighted average coupon Marketability yield adjustment		1 month – 10 years 2.97% - 3.08% (3.03%) 1.0% - 2.0% (1.6%)

		Fair Value at June 30, 2022				Valuation Technique		Unobservable Inputs		Range (Weighted Average)
Mortgage servicing rights		$	1,463			Discounted cash flow		Discount rate Constant prepayment rate Probability of default		9.5% (9.5%) 6.0% - 6.7% (6.7%) 0.10% - 0.14% (0.12%)
State and political subdivision			2,662			Discounted cash flow		Maturity/Call Date Weighted average coupon Marketability yield adjustment		1 month – 10 years 2.97% - 3.08% (3.03%) 1.0% - 2.0% (1.6%)

Estimated Fair Values of Financial Instruments and Level within Fair Value Hierarchy in which Fair Value Measurements Fall

The following tables present estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at September 30, 2022 and June 30, 2022.

		Carrying Amount				Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
September 30, 2022:
Financial assets
Cash and cash equivalents		$	11,386			$	11,386			$	—			$	—
Interest-bearing time deposits in banks			1,500				1,500				—				—
Loans, net of allowance for loan losses			544,107				—				—				531,480
Federal Home Loan Bank stock			3,340				—				3,340				—
Accrued interest receivable			2,329				—				2,329				—
Financial liabilities
Deposits			657,405				—				418,374				238,531
Repurchase agreements			9,720				—				9,720				—
Federal Home Loan Bank advances			63,000				—				62,756				—
Advances from borrowers for taxes and insurance			782				—				782				—
Accrued interest payable			207				—				207				—
Unrecognized financial instruments (net of contract amount)			—				—				—				—
Commitments to originate loans			—				—				—				—

		Carrying Amount				Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
June 30, 2022:
Financial assets
Cash and cash equivalents		$	75,811			$	75,811			$	—			$	—
Interest-bearing time deposits in banks			1,500				1,500				—				—
Loans, net of allowance for loan losses			518,931				—				—				512,643
Federal Home Loan Bank stock			3,142				—				3,142				—
Accrued interest receivable			2,023				—				2,023				—
Financial liabilities
Deposits			752,020				—				501,544				250,650
Repurchase agreements			9,244				—				9,244				—
Federal Home Loan Bank advances			15,000				—				14,903				—
Advances from borrowers for taxes and insurance			503				—				503				—
Accrued interest payable			176				—				176				—
Unrecognized financial instruments (net of contract amount)
Commitments to originate loans			—				—				—				—

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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