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Loan Servicing | 12 Months Ended
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Jun. 30, 2024
Transfers and Servicing [Abstract] |
Loan Servicing |
Note 5: | Loan Servicing
Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balance of mortgage loans serviced for others was $133,786,000 and $133,228,000 at June 30, 2024 and 2023, respectively. Custodial escrow balances in connection with the foregoing loan servicing were $1,090,000 and $1,536,000 at June 30, 2024 and 2023, respectively. The aggregate fair value of capitalized mortgage servicing rights at June 30, 2024 and 2023 was $1,491,000 and $1,482,000, respectively. Comparable market values and a valuation model that calculates the present value of future cash flows were used to estimate fair value. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as costs to service, a discount rate, custodial earnings rate, default rates and losses and prepayment speeds. The following summarizes the activity in mortgage servicing rights measured using the fair value method:
|  | 2024 |  |  | 2023 |
Fair value, beginning of period |  | $ | 1,482 |  |  | $ | 1,463 |
Additions: |  |  |  |  |  |  |  |
Servicing assets resulting from asset transfers |  |  | 151 |  |  |  | 89 |
Subtractions: |  |  |  |  |  |  |  |
Payments received and loans refinanced |  |  | (143 | ) |  |  | (171 | )
Changes in fair value, due to changes in valuation inputs or assumptions |  |  | 1 |  |  |  | 101 |
Fair value, end of period |  | $ | 1,491 |  |  | $ | 1,482 |
For purposes of measuring impairment, risk characteristics including product type, investor type, and interest rates, were used to stratify the originated mortgage servicing rights.

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- Definition The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(11)) -Publisher 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