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Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2024

Basis of Presentation

Schedule of calculation of earnings per share

​

​	​	​	​	​	​	​
​	​	Years Ended June 30,
​		2024			2023
Net income (loss) applicable to common stock	​	$	(186,994)	​	$	1,672,070
​	​	​	​	​	​	​
Average number of shares outstanding	​	​	2,119,189	​	​	2,189,017
Less: Average unallocated ESOP shares	​	​	76,909	​	​	80,405
​	​	​	​	​	​	​
Average number of common shares outstanding used to calculate basic earnings per share	​	​	2,042,280	​	​	2,108,612
Effect of dilutive restricted stock awards	​	​	-	​	​	3,897
​	​	​	​	​	​	​
Average number of common shares outstanding used to calculate dilutive earnings per share	​	​	2,042,280	​	​	2,112,509
​	​	​	​	​	​	​
​	​	​	​	​	​	​
Earnings (loss) per common share:	​	​	​	​	​	​
Basic	​	$	(0.09)	​	$	0.79
Diluted	​	​	(0.09)	​	​	0.79

Schedule of impact of adopting ASC 326

​

​	​	​	​	​	​	​	​	​	​
​	​	June 30, 2023		​	July 1, 2023		​	July 1, 2023
​	​	As Previously		​	​	​	​	As Reported
​	​	Reported		​	Impact of		​	Under
​		(Incurred Loss)			ASC 326			ASC 326
Assets:	​	​	​	​	​	​	​	​	​
Loans, net	​	$	197,713,756	​	$	175,000	​	$	197,888,756
​	​	​	​	​	​	​	​	​	​
Deferred income taxes, net	​	​	486,916	​	​	(34,923)	​	​	451,993
​	​	​	​	​	​	​	​	​	​
Liabilities:	​	​	​	​	​	​	​	​	​
Reserve for credit losses on unfunded commitments (included in other liabilities)	​	​	—	​	​	(6,702)	​	​	(6,702)
​	​	​	​	​	​	​	​	​	​
Total equity:	​	$	31,279,518	​	$	133,375	​	$	31,412,893

​

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- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Tabular disclosure of the effect of income (loss) on basic earnings per share.

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