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Loans and Allowance for Credit Losses (Tables)

9 Months Ended

Mar. 31, 2025

Categories of Loans

Classes of loans include:

		March 31, 2025				June 30, 2024
Real estate loans:
One- to four-family		$	176,143			$	177,263
Multi-family			124,002				126,031
Commercial			207,656				200,017
Home equity lines of credit			10,014				9,859
Construction			27,213				33,708
Commercial			93,724				91,784
Consumer			6,192				7,727
Total loans			644,944				646,389
Less:
Unearned fees and discounts, net			(343	)			(407	)
Allowance for credit losses			7,094				7,499
Loans, net		$	638,193			$	639,297

Allowance for Credit Losses

Allowance for Credit Losses

The following tables present the activity in the allowance for credit losses for the three-month and nine-month periods ended March 31, 2025 and 2024 and the year ended June 30, 2024:

		Three Months Ended March 31, 2025 Real Estate Loans
		One- to Four-Family				Multi-Family				Commercial				Home Equity Lines of Credit
Allowance for credit losses:
Balance, beginning of period		$	1,579			$	1,681			$	2,378			$	134
Provision (credit) for credit losses			21				(213	)			62				—
Losses charged off			—				—				—				—
Recoveries			—				20				—				—
Balance, end of period		$	1,600			$	1,488			$	2,440			$	134
Loans:
Ending balance		$	176,143			$	124,002			$	207,656			$	10,014
		Three Months Ended March 31, 2025 (Continued)
		Construction				Commercial				Consumer				Total
Allowance for credit losses:
Balance, beginning of period		$	298			$	1,216			$	60			$	7,346
Provision (credit) for credit losses			(53	)			(86	)			14				(255	)
Losses charged off			—				—				(21	)			(21	)
Recoveries			—				2				2				24
Balance, end of period		$	245			$	1,132			$	55			$	7,094
Loans:
Ending balance		$	27,213			$	93,724			$	6,192			$	644,944

		Nine Months Ended March 31, 2025 Real Estate Loans
		One- to Four-Family				Multi-Family				Commercial				Home Equity Lines of Credit
Allowance for credit losses:
Balance, beginning of period		$	1,774			$	1,764			$	2,358			$	148
Provision (credit) for credit losses			(175	)			(146	)			82				(14	)
Losses charged off			—				(350	)			—				—
Recoveries			1				220				—				—
Balance, end of period		$	1,600			$	1,488			$	2,440			$	134
Loans:
Ending balance		$	176,143			$	124,002			$	207,656			$	10,014
		Nine Months Ended March 31, 2025 (Continued)
		Construction				Commercial				Consumer				Total
Allowance for credit losses:
Balance, beginning of period		$	337			$	1,053			$	65			$	7,499
Provision (credit) for credit losses			(92	)			18				38				(289	)
Losses charged off			—				(50	)			(63	)			(463	)
Recoveries			—				111				15				347
Balance, end of period		$	245			$	1,132			$	55			$	7,094
Loans:
Ending balance		$	27,213			$	93,724			$	6,192			$	644,944
		Year Ended June 30, 2024 Real Estate Loans
		One- to Four-Family				Multi-Family				Commercial				Home Equity Lines of Credit
Allowance for credit losses:
Balance, beginning of year		$	1,898			$	1,121			$	2,369			$	121
Provision (credit) charged to expense			(127	)			643				(11	)			27
Losses charged off			—				—				—				—
Recoveries			3				—				—				—
Balance, end of year		$	1,774			$	1,764			$	2,358			$	148
Loans:
Ending balance		$	177,263			$	126,031			$	200,017			$	9,859

		Year Ended June 30, 2024 (Continued)
		Construction				Commercial				Consumer				Total
Allowance for credit losses:
Balance, beginning of year		$	765			$	794			$	71			$	7,139
Provision (credit) charged to expense			(428	)			17				29				150
Losses charged off			—				—				(49	)			(49	)
Recoveries			—				242				14				259
Balance, end of year		$	337			$	1,053			$	65			$	7,499
Loans:
Ending balance		$	33,708			$	91,784			$	7,727			$	646,389
		Three Months Ended March 31, 2024 Real Estate Loans
		One- to Four-Family				Multi-Family				Commercial				Home Equity Lines of Credit
Allowance for credit losses:
Balance, beginning of period		$	1,809			$	1,865			$	2,593			$	147
Provision (credit) for credit losses			16				(76	)			(280	)			—
Losses charged off			—				—				—				—
Recoveries			3				—				—				—
Balance, end of period		$	1,828			$	1,789			$	2,313			$	147
Loans:
Ending balance		$	176,117			$	127,757			$	198,823			$	9,602
		Three Months Ended March 31, 2024 (Continued)
		Construction				Commercial				Consumer				Total
Allowance for credit losses:
Balance, beginning of period		$	539			$	915			$	67			$	7,935
Provision (credit) for credit losses			(2	)			(44	)			8				(378	)
Losses charged off			—				—				(10	)			(10	)
Recoveries			—				174				1				178
Balance, end of period		$	537			$	1,045			$	66			$	7,725
Loans:
Ending balance		$	41,342			$	89,383			$	7,657			$	650,681

		Nine Months Ended March 31, 2024
		Real Estate Loans
		One- to Four-Family				Multi-Family				Commercial				Home Equity Lines of Credit
Allowance for credit losses:
Balance, beginning of period		$	1,898			$	1,121			$	2,369			$	121
Provision (credit) for credit losses			(73	)			668				(56	)			26
Losses charged off			—				—				—				—
Recoveries			3				—				—				—
Balance, end of period		$	1,828			$	1,789			$	2,313			$	147
Loans:
Ending balance		$	176,117			$	127,757			$	198,823			$	9,602
		Nine Months Ended March 31, 2024 (Continued)
		Construction				Commercial				Consumer				Total
Allowance for credit losses:
Balance, beginning of period		$	765			$	794			$	71			$	7,139
Provision (credit) for credit losses			(228	)			10				22				369
Losses charged off			—				—				(35	)			(35	)
Recoveries			—				241				8				252
Balance, end of period		$	537			$	1,045			$	66			$	7,725
Loans:
Ending balance		$	41,342			$	89,383			$	7,657			$	650,681

Credit Risk Profile of Association's Loan Portfolio Based on Risk Rating Category and Calendar Year of Origination

The following tables present the credit risk profile of the Company’s loan portfolio based on risk rating category and calendar year of origination as of March 31, 2025 and June 30, 2024 (in thousands):

March 31, 2025

Risk Rating		2025				2024				2023				2022				2021				Prior Years				Total
One- to Four-Family
Pass		$	5,275			$	23,570			$	36,665			$	46,872			$	21,188			$	42,107			$	175,677
Watch			—				—				—				—				56				—				56
Substandard			—				—				—				4				5				401				410
Total		$	5,275			$	23,570			$	36,665			$	46,876			$	21,249			$	42,508			$	176,143
Current Period Recoveries			—				—				—				—				—				1				1
Multi-Family
Pass		$	534			$	15,729			$	10,517			$	39,750			$	19,968			$	37,277			$	123,775
Watch			—				—				—				—				—				—				—
Substandard			—				—				—				—				—				227				227
Total		$	534			$	15,729			$	10,517			$	39,750			$	19,968			$	37,504			$	124,002
Current Period Charge-offs			—				—				(350	)			—				—				—				(350	)
Current Period Recoveries			—				—				220				—				—				—				220
Commercial Real Estate
Pass		$	8,977			$	14,799			$	26,189			$	51,061			$	29,485			$	74,865			$	205,376
Watch			—				—				—				—				137				—				137
Substandard			—				—				—				—				846				1,297				2,143
Total		$	8,977			$	14,799			$	26,189			$	51,061			$	30,468			$	76,162			$	207,656
Home Equity Line of Credit
Pass		$	367			$	2,503			$	2,042			$	1,583			$	1,449			$	2,070			$	10,014
Watch			—				—				—				—				—				—				—
Substandard			—				—				—				—				—				—				—
Total		$	367			$	2,503			$	2,042			$	1,583			$	1,449			$	2,070			$	10,014
Construction
Pass		$	1,110			$	13,899			$	12,058			$	123			$	—			$	23			$	27,213
Watch			—				—				—				—				—				—				—
Substandard			—				—				—				—				—				—				—
Total		$	1,110			$	13,899			$	12,058			$	123			$	—			$	23			$	27,213
Commercial Business
Pass		$	6,073			$	21,693			$	31,921			$	4,395			$	5,389			$	17,139			$	86,610
Watch			—				—				—				—				—				—				—
Substandard			21				—				3,436				36				197				3,424				7,114
Total		$	6,094			$	21,693			$	35,357			$	4,431			$	5,586			$	20,563			$	93,724
Current Period Charge-offs			—				—				(50	)			—				—				—				(50	)
Current Period Recoveries			—				—				50				—				—				61				111
Consumer
Pass		$	969			$	1,914			$	1,649			$	1,029			$	394			$	219			$	6,174
Watch			—				—				—				—				—				—				—
Substandard			—				—				18				—				—				—				18
Total		$	969			$	1,914			$	1,667			$	1,029			$	394			$	219			$	6,192
Current Period Charge-offs			(21	)			(41	)			—				(1	)			—				—				(63	)
Current Period Recoveries			2				13				—				—				—				—				15
Total Loans
Pass		$	23,305			$	94,107			$	121,041			$	144,813			$	77,873			$	173,700			$	634,839
Watch			—				—				—				—				193				—				193
Substandard			21				—				3,454				40				1,048				5,349				9,912
Total		$	23,326			$	94,107			$	124,495			$	144,853			$	79,114			$	179,049			$	644,944

June 30, 2024

Risk Rating		2024				2023				2022				2021				2020				Prior Years				Total
One- to Four-Family
Pass		$	14,790			$	39,202			$	51,262			$	24,362			$	15,455			$	31,926			$	176,997
Watch			—				—				—				72				—				—				72
Substandard			—				14				5				5				—				170				194
Total		$	14,790			$	39,216			$	51,267			$	24,439			$	15,455			$	32,096			$	177,263
Current period recoveries		$	—			$	—			$	—			$	—			$	—			$	3			$	3
Multi-Family
Pass		$	573			$	9,004			$	51,279			$	20,346			$	22,728			$	21,867			$	125,797
Watch			—				—				—				—				—				—				—
Substandard			—				—				—				—				—				234				234
Total		$	573			$	9,004			$	51,279			$	20,346			$	22,728			$	22,101			$	126,031
Commercial Real Estate
Pass		$	4,602			$	29,665			$	57,530			$	27,622			$	30,489			$	48,886			$	198,794
Watch			—				—				—				—				—				—				—
Substandard			—				—				—				150				821				252				1,223
Total		$	4,602			$	29,665			$	57,530			$	27,772			$	31,310			$	49,138			$	200,017
Home Equity Line of Credit
Pass		$	1,629			$	2,361			$	1,874			$	1,806			$	795			$	1,394			$	9,859
Watch			—				—				—				—				—				—				—
Substandard			—				—				—				—				—				—				—
Total		$	1,629			$	2,361			$	1,874			$	1,806			$	795			$	1,394			$	9,859
Construction
Pass		$	9,123			$	21,043			$	3,250			$	—			$	—			$	292			$	33,708
Watch			—				—				—				—				—				—				—
Substandard			—				—				—				—				—				—				—
Total		$	9,123			$	21,043			$	3,250			$	—			$	—			$	292			$	33,708
Commercial Business
Pass		$	10,357			$	38,853			$	10,158			$	9,898			$	8,201			$	12,803			$	90,270
Watch			—				—				—				—				—				—				—
Substandard			—				133				47				190				1,088				56				1,514
Total		$	10,357			$	38,986			$	10,205			$	10,088			$	9,289			$	12,859			$	91,784
Current period recoveries		$	—			$	—			$	—			$	—			$	242			$	—			$	242
Consumer
Pass		$	1,956			$	2,635			$	1,830			$	843			$	394			$	69			$	7,727
Watch			—				—				—				—				—				—				—
Substandard			—				—				—				—				—				—				—
Total		$	1,956			$	2,635			$	1,830			$	843			$	394			$	69			$	7,727
Current period charge-offs		$	(48	)		$	—			$	—			$	(1	)		$	—			$	—			$	(49	)
Current period recoveries		$	14			$	—			$	—			$	—			$	—			$	—			$	14
Total Loans
Pass		$	43,030			$	142,763			$	177,183			$	84,877			$	78,062			$	117,237			$	643,152
Watch			—				—				—				72				—				—				72
Substandard			—				147				52				345				1,909				712				3,165
Total		$	43,030			$	142,910			$	177,235			$	85,294			$	79,971			$	117,949			$	646,389

Association's Loan Portfolio Aging Analysis

The following tables present the Company’s loan portfolio aging analysis:

		30-59 Days Past Due				60-89 Days Past Due				90 Days or Greater				Total Past Due				Current				Total Loans Receivable				Total Loans 90 Days Past Due & Accruing
March 31, 2025:
Real estate loans:
One- to four-family		$	1,017			$	274			$	42			$	1,333			$	174,810			$	176,143			$	42
Multi-family			142				—				—				142				123,860				124,002				—
Commercial			1,056				—				250				1,306				206,350				207,656				250
Home equity lines of credit			—				—				—				—				10,014				10,014				—
Construction			—				—				—				—				27,213				27,213				—
Commercial			3,486				18				27				3,531				90,193				93,724				27
Consumer			42				20				—				62				6,130				6,192				—
Total		$	5,743			$	312			$	319			$	6,374			$	638,570			$	644,944			$	319

		30-59 Days Past Due				60-89 Days Past Due				90 Days or Greater				Total Past Due				Current				Total Loans Receivable				Total Loans 90 Days Past Due & Accruing
June 30, 2024:
Real estate loans:
One- to four-family		$	1,009			$	192			$	—			$	1,201			$	176,062			$	177,263			$	—
Multi-family			141				—				—				141				125,890				126,031				—
Commercial			—				—				150				150				199,867				200,017				—
Home equity lines of credit			17				25				—				42				9,817				9,859				—
Construction			237				—				—				237				33,471				33,708				—
Commercial			21				20				—				41				91,743				91,784				—
Consumer			27				1				23				51				7,676				7,727				—
Total		$	1,452			$	238			$	173			$	1,863			$	644,526			$	646,389			$	—

Nonaccrual with no Allowance for Credit Losses and Nonaccrual Loans

The following table presents the amortized cost basis of loans on nonaccrual status and of nonaccrual loans individually evaluated for which no allowance was recorded at March 31, 2025 and June 30, 2024:

		March 31, 2025								June 30, 2024
		Nonaccrual with no Allowance for Credit Losses				Nonaccrual				Nonaccrual with no Allowance for Credit Losses				Nonaccrual
Mortgages on real estate:
One- to four-family		$	—			$	—			$	—			$	—
Multi-family			—				—				—				—
Commercial			—				—				—				150
Home equity lines of credit			—				—				—				—
Construction loans			—				—				—				—
Commercial business loans			—				—				—				—
Consumer loans			—				18				—				—
Total		$	—			$	18			$	—			$	150

Loans Modified as Troubled Debt Restructurings

The following tables show the amortized cost of loans at March 31, 2025 and at June 30, 2024 that were modified and experiencing financial difficulty, segregated by portfolio segment and type of modification. The percentage of the amortized cost of loans that were modified to borrowers in financial distress as compared to outstanding loans is also presented below.

March 31, 2025

		Payment Delay				Total Class of Financing Receivable
Real estate loans
One- to four-family		$	—				—
Multi-family			—				—
Commercial			252				0.12	%
Home equity lines of credit			—				—
Construction			—				—
Commercial business			128				0.14	%
Consumer			—				—
Total		$	380				0.06	%

June 30, 2024

		Payment Delay				Total Class of Financing Receivable
Real estate loans
One- to four-family		$	—				—
Multi-family			—				—
Commercial			252				0.13	%
Home equity lines of credit			—				—
Construction			—				—
Commercial business			133				0.15	%
Consumer			—				—
Total		$	385				0.06	%

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Tabular disclosure of allowance for credit loss on financing receivable.

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+ References

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