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Disclosures About Fair Value of Assets (Tables)

9 Months Ended

Mar. 31, 2025

Fair Value Measurements of Assets Recognized on Recurring Basis

The following table presents the fair value measurements of assets recognized in the accompanying condensed consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at March 31, 2025 and June 30, 2024:


			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2025:
Available-for-sale securities:
US Government and federal agency	$	1,786	$	—	$	1,786	$	—
Mortgage-backed securities – GSE residential		166,731		—		166,731		—
Small Business Administration		13,292		—		13,292		—
State and political subdivisions		2,776		—		1,028		1,748
Mortgage servicing rights		1,452		—		—		1,452


			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 30, 2024:
Available-for-sale securities:
US Treasury	$	444	$	—	$	444	$	—
U.S. Government and federal agency and Government sponsored enterprises (GSE’s)		6,609		—		6,609		—
Mortgage-backed: GSE residential		166,236		—		166,236		—
Small Business Administration		14,086		—		14,086		—
State and political subdivisions		3,100		—		1,043		2,057
Mortgage servicing rights		1,491		—		—		1,491

Reconciliation of Beginning and Ending Balances of Recurring Fair Value Measurements Recognized in Accompanying Balance Sheet

The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying balance sheet using significant unobservable (Level 3) inputs:

Nine months ended March 31, 2025


	Obligations of State and Political Subdivisions			Mortgage Servicing Rights			Total
Beginning balance	$	2,057		$	1,491		$	3,548
Transfers into Level 3		—			131			131
Transfers out of Level 3		—			(112	)		(112	)
Total realized and unrealized gains and losses included in net income		—			(58	)		(58	)
Purchases		—			—			—
Sales		—			—			—
Settlements		(309	)		—			(309	)

Ending balance	$	1,748		$	1,452		$	3,200

Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date	$	—		$	(58	)	$	(58	)

Year ended June 30, 2024


	Obligations of State and Political Subdivisions			Mortgage Servicing Rights			Total
Beginning balance	$	2,361		$	1,482		$	3,843
Transfers into Level 3		—			151			151
Transfers out of Level 3		—			(143	)		(143	)
Total realized and unrealized gains and losses included in net income		—			1			1
Purchases		—			—			—
Sales		—			—			—
Settlements		(304	)		—			(304	)

Ending balance	$	2,057		$	1,491		$	3,548

Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date	$	—		$	1		$	1

Quantitative Information about Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements

The following tables present quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements at March 31, 2025 and June 30, 2024.

Fair Value at
March 31, 2025

Valuation Technique

Unobservable Inputs

Range

(Weighted Average)

Mortgage servicing rights

1,452

Discounted cash flow

Discount rate

9.5% (9.5%)

Constant prepayment rate

6.2% - 8.6% (8.2%)

Probability of default

0.08% - 0.12% (0.11%)

State and political subdivisions

1,748

Discounted cash flow

Maturity/Call Date

1 month – 7 years

Weighted average
coupon

2.97% - 3.08% (3.03%)

Marketability yield
adjustment

1.0% - 2.0% (1.6%)

Fair Value at
June 30, 2024

Valuation Technique

Unobservable Inputs

Range

(Weighted Average)

Mortgage servicing rights

1,491

Discounted cash flow

Discount rate

10.0% (10.0%)

Constant prepayment rate

6.2% - 8.0% (7.7%)

Probability of default

0.08% - 0.12% (0.11%)

State and political subdivisions

2,057

Discounted cash flow

Maturity/Call Date

1 month – 7 years

Weighted average coupon

2.97% - 3.08% (3.03%)

Marketability yield
adjustment

1.0% - 2.0% (1.6%)

Estimated Fair Values of Financial Instruments and Level within Fair Value Hierarchy in which Fair Value Measurements Fall

The following tables present estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at March 31, 2025 and June 30, 2024.


	Carrying Amount		Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2025:
Financial assets
Cash and cash equivalents	$	8,872	$	8,872	$	—	$	—
Interest-bearing time deposits in banks		250		250		—		—
Loans, net of allowance for credit losses		638,193		—		—		611,718
Federal Home Loan Bank stock		5,763		—		5,763		—
Accrued interest receivable		3,827				3,827
Financial liabilities
Deposits		683,979		—		362,989		320,438
Repurchase agreements		18,910		—		18,910		—
Federal Home Loan Bank advances		85,999		—		84,967		—
Other borrowings		—		—		—		—
Advances from borrowers for taxes and insurance		1,168		—		1,168		—
Accrued interest payable		1,729		—		1,729		—
Unrecognized financial instruments (net of contract amount)
Commitments to originate loans		—		—		—		—


	Carrying Amount		Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 30, 2024:
Financial assets
Cash and cash equivalents	$	9,571	$	9,571	$	—	$	—
Interest-bearing time deposits in banks		250		250		—		—
Loans, net of allowance for credit losses		639,297		—		—		607,076
Federal Home Loan Bank stock		4,499		—		4,499		—
Accrued interest receivable		3,457		—		3,457		—
Financial liabilities
Deposits		727,177		—		407,544		318,612
Repurchase agreements		17,772		—		17,772		—
Federal Home Loan Bank advances		32,999		—		32,560		—
Other Borrowings		25,250		—		25,199		—
Advances from borrowers for taxes and insurance		968		—		968		—
Accrued interest payable		3,009		—		3,009		—
Unrecognized financial instruments (net of contract amount)
Commitments to originate loans		—		—		—		—

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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