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Federal Home Loan Bank Advances | 12 Months Ended
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Jun. 30, 2023
Federal Home Loan Banks [Abstract] |
Federal Home Loan Bank Advances | Note 7: Federal Home Loan Bank Advances The Federal Home Loan Bank advances totaled $19,500,000 and $15,000,000 as of June 30, 2023 and 2022, respectively. The Federal Home Loan Bank advances are secured by mortgage, multi-family, commercial real estate, and HELOC loans totaling $350,838,000 at June 30, 2023. Advances at June 30, 2023, at interest rates from 2.58 to 5.16 percent are subject to restrictions or penalties in the event of prepayment. IF Bancorp, Inc. Notes to Consolidated Financial Statements June 30, 2023 and 2022 (Table dollar amounts in thousands) Aggregate annual maturities of Federal Home Loan Bank advances at June 30, 2023, are:
2024 |  | $ | 14,000 |
2025 |  |  | 3,000 |
2026 |  |  | 2,500 |
2027 |  |  | — |
2028 |  |  | — |
Thereafter |  |  | — |
|  | $ | 19,500 |

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- Definition The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 470 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480876/942-470-45-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480848/942-470-50-3 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481544/470-10-50-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.13(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1 + Details
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