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Foreclosed Assets | 3 Months Ended
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Sep. 30, 2025
Foreclosed Assets |
Foreclosed Assets | Note 6 - Foreclosed Assets Real estate owned activity was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months | ​ | Three Months
​ | ​ | Ended | ​ | Ended
​ |  | September 30, 2025 |  | September 30, 2024
Balance July 1, | ​ | $ | 2,334,560 | ​ | $ | 2,334,560
Loans transferred to real estate owned | ​ | ​ | — | ​ | ​ | —
Capitalized expenditures | ​ | ​ | — | ​ | ​ | —
Direct write-downs | ​ | ​ | — | ​ | ​ | —
Sales of real estate owned | ​ | ​ | — | ​ | ​ | —
Balance September 30, | ​ | $ | 2,334,560 | ​ | $ | 2,334,560
​ | ​ | ​ | ​ | ​ | ​ | ​
​ Activity in the valuation allowance is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months | ​ | Three Months
​ | ​ | Ended | ​ | Ended
​ |  | September 30, 2025 |  | September 30, 2024
Balance July 1, | ​ | $ | 1,315,867 | ​ | $ | 937,100
Provisions/(recoveries) charged (credited) to expense | ​ | ​ | — | ​ | ​ | —
Reductions from sales of real estate owned | ​ | ​ | — | ​ | ​ | —
Direct write-downs | ​ | ​ | — | ​ | ​ | —
Sales of real estate owned | ​ | ​ | — | ​ | ​ | —
Balance September 30, | ​ | $ | 1,315,867 | ​ | $ | 937,100
​ Expenses related to foreclosed assets include: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months | ​ | Three Months
​ | ​ | Ended | ​ | Ended
​ | ​ | September 30, 2025 | ​ | September 30, 2024
Balance July 1, | ​ | $ | — | ​ | $ | —
Net loss (gain) on sales | ​ | ​ | — | ​ | ​ | —
Provisions for unrealized losses | ​ | ​ | — | ​ | ​ | —
Operating expenses, net of rental income | ​ | ​ | 16,235 | ​ | ​ | 17,572
Balance September 30, | ​ | $ | 16,235 | ​ | $ | 17,572
​ | ​ | ​ | ​ | ​ | ​ | ​
​ During the year ended June 30, 2023, the Company foreclosed on collateral supporting a construction loan which was valued at $2.3 million and was included in foreclosed assets (OREO), net. The valuation was based on independent appraisals subject to certain discounts less estimated costs to sell. A subsequent independent appraisal was obtained in April 2024 subject to certain discounts less estimated costs to sell. After adjusting for estimated costs to sell, the revised valuation was $1.4 million resulting in a provision for valuation allowance of $937,100 being recorded during the year ended June 30, 2024. An offer to sell the property for $1.1 million was accepted by the Company in August 2025 resulting in a provision for valuation allowance of $378,767 being recorded during the year ended June 30, 2025. The sale is subject to customary due diligence and has not closed as of November 12, 2025. The recorded investment in 1-4 family owner occupied properties that were in the process of foreclosure was $190,013 and $66,645 at September 30, 2025 and June 30, 2025, respectively.

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- References No definition available. + Details
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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481990/310-10-45-3 + Details
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