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Nature of Operations and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Estimated Useful Lives of Premises and Equipment

The estimated useful lives for each major depreciable classification of premises and equipment are as follows:

Buildings and improvements			35-40 years
Furniture and equipment			3-5 years

Schedule of Impact of ASU 2016-13 Adoption

The following table illustrates the impact of ASU 2016-13 adoption (in thousands):

		July 1, 2022
		Allowance for credit losses as reported under ASU 2016-13				Allowance pre-ASU 2016-13 Adoption				Impact on Allowance of ASU 2016-13 Adoption
Assets:
Real Estate Loans
One- to four-family		$	1,410			$	1,028			$	382
Multi-Family			1,235				1,375				(140	)
Commercial			2,370				1,985				385
HELOC			103				70				33
Construction			681				489				192
Commercial Business			1,207				2,025				(818	)
Consumer			93				80				13
Allowance for credit losses for all loans		$	7,099			$	7,052			$	47
Liabilities:
Allowance for credit losses on off-balance sheet exposures		$	496			$	—			$	496

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Schedule of estimated useful lives of premises and equipment.

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Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
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-Name Accounting Standards Codification
-Topic 270
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