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Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Jun. 30, 2025

Fair Value of Assets and Liabilities

Schedule of assets and liabilities measured at fair value on a recurring basis


					Quoted Prices in			Other Observable			Unobservable
					Active Markets			Inputs			Inputs
		Total			(Level 1)			(Level 2)			(Level 3)
June 30, 2025
Available for sale debt securities
States and municipalities		$	449,316		$	—		$	449,316		$	—
Mortgage-backed			858,762			—			858,762			—
Corporate bonds			3,893,201			—			2,283,201			1,610,000
Total assets		$	5,201,279		$	—		$	3,591,279		$	1,610,000


					Quoted Prices in			Other Observable			Unobservable
					Active Markets			Inputs			Inputs
		Total			(Level 1)			(Level 2)			(Level 3)
June 30, 2024
Available for sale debt securities
States and municipalities		$	685,588		$	—		$	685,588		$	—
Mortgage-backed			1,292,907			—			1,292,907			—
Corporate bonds			4,628,266			—			3,168,266			1,460,000
Total assets		$	6,606,761		$	—		$	5,146,761		$	1,460,000

Schedule of financial assets measured at fair value on a nonrecurring basis

June 30,

June 30,

Valuation

Unobservable

Range

2025

2024

Technique

Input

(Weighted Avg.)

Foreclosed assets (OREO), net

$

996,373

$

1,375,140

Collateral valuation

Discount from market value

2025:10%-75%

2024:10%-75%

Collateral dependent financial assets

$

66,645

—

Appraisal

Discount from market value

0%

Schedule of available for sale debt securities measured at fair value on a recurring basis using unobservable inputs


Balance at July 1, 2023		$	1,580,000

Unrealized (losses) included in other comprehensive income (loss)			(120,000)

Balance at June 30, 2024			1,460,000

Unrealized (losses) included in other comprehensive income (loss)			150,000

Balance at June 30, 2025		$	1,610,000

Schedule of estimated fair values of financial instruments


		June 30, 2025						June 30, 2024
		Carrying Value			Fair Value			Carrying Value			Fair Value
Financial Assets
Cash and due from banks		$	2,242,736		$	2,242,736		$	2,977,438		$	2,977,438
Federal funds sold			12,143,000			12,143,000			7,495,000			7,495,000
Interest bearing deposits in other financial institutions			237,247			237,247			199,888			199,888
Available for sale debt securities			5,201,279			5,201,279			6,601,761			6,601,761
Held to maturity debt securities			483,787			373,568			510,276			510,276
Loans, net			200,795,706			195,176,000			183,447,633			172,191,000
Investment in restricted stock			1,329,413			1,329,413			1,329,413			1,329,413
Accrued interest receivable			667,686			667,686			597,768			597,768
Financial Liabilities
Deposits		$	175,240,826		$	174,732,000		$	172,980,754		$	156,433,000
Federal Home Loan Bank (FHLB) advances			15,000,000			15,000,000			13,000,000			13,000,000
Accrued interest payable			270,693			270,693			287,072			287,072

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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