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Condensed Financial Information (Parent Company Only)

12 Months Ended

Jun. 30, 2024

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information (Parent Company Only)

Note 19: Condensed Financial Information (Parent Company Only)

Presented below is condensed financial information as to financial position, results of operations and cash flows of the Company as of and for the years ended June 30, 2024 and 2023:

Condensed Balance Sheets

		June 30,				June 30,
		2024				2023
Assets
Cash and due from banks		$	6,191			$	7,407
Investment in common stock of subsidiary			66,113				62,574
ESOP loan			1,718				1,893
Total assets		$	74,022			$	71,874
Liabilities
Line of credit		$	—			$	—
Interest payable			—				—
Other liabilities			106				121
Total liabilities			106				121
Stockholders’ Equity			73,916				71,753
Total liabilities and stockholders’ equity		$	74,022			$	71,874

Condensed Statements of Income and Comprehensive Income

		Year Ending June 30,				Year Ending June 30,
		2024				2023
Income
Interest on ESOP loan		$	150			$	95
Deposits with financial institutions			—				—
Total income			150				95
Expense
Interest on line of credit			—				—
Other expenses			199				201
Total expense			199				201
Loss Before Income Tax and Equity in Undistributed Income of Subsidiary			(49	)			(106	)
Benefit for Income Taxes			(14	)			(30	)
Loss Before Equity in Undistributed Income of Subsidiary			(35	)			(76	)
Equity in Undistributed Income of Subsidiary			1,825				4,736
Net Income		$	1,790			$	4,660
Comprehensive Income		$	2,879			$	358

Condensed Statements of Cash Flows

		Year Ended June 30,				Year Ended June 30,
		2024				2023
Cash flows from operating activities
Net income		$	1,790			$	4,660
Items not requiring (providing) cash
Net change accrued interest payable			—				(21	)
Net change in other liabilities			(15	)			30
Earnings from subsidiary			(1,825	)			(4,736	)
Net cash used in operating activities			(50	)			(67	)
Cash flows from financing activities
Proceeds from exercise of stock options			—				732
Dividends paid			(1,341	)			(1,338	)
Dividends received			—				2,000
Loan for ESOP			175				190
Net cash provided by (used in) financing activities			(1,166	)			1,584
Net Change in Cash and Cash Equivalents			(1,216	)			1,517
Cash and Cash Equivalents at Beginning of Year			7,407				5,890
Cash and Cash Equivalents at End of Year		$	6,191			$	7,407

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- References

No definition available.

+ Details

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481231/810-10-45-11

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