XML 63 R22.htm IDEA: XBRL DOCUMENT v3.19.3

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Schedule of retirement and employee benefit plans

		For the fiscal year ended
		June 30,
		2019				2018
Allocated shares			123,241				104,649
Shares committed to be released			9,338				9,338
Unearned shares			47,607				66,286
Total ESOP shares			180,186				180,273
Fair value of unearned shares at End of period (dollars in thousands)		$	374			$	560

Schedule of earnings per share

		2019				2018
Net income allocated to common shareholders, basic and diluted		$	812,000			$	1,323,000
EARNINGS PER SHARE
Basic and diluted		$	0.10			$	0.16
Weighted average common shares outstanding, basic and diluted			8,335,612				8,366,521

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

		Fair Value Measurements Using
						Quotes Prices
						in Active				Significant
						Markets for				Other				Significant
						Identical				Observable				Unobservable
						Assets				Inputs				Inputs
(in thousands)		Fair Value				(Level 1)				(Level 2)				(Level 3)
2019
U.S. Treasury notes		$	497			$	--			$	497			$	--
Agency bonds		$	505			$	--			$	505			$	--
Agency mortgage-backed: residential		$	43			$	--			$	43			$	--
2018
Agency mortgage-backed: residential		$	48			$	--			$	48			$	--

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

		Fair Value Measurements Using
						Quotes Prices
						in Active				Significant
						Markets for				Other				Significant
						Identical				Observable				Unobservable
						Assets				Inputs				Inputs
(in thousands)		Fair Value				(Level 1)				(Level 2)				(Level 3)
2019
Loans
One- to four-family		$	593			$	-			$	-			$	593
Other real estate owned, net
One- to four-family		$	117			$	-			$	-			$	117
2018
Loans
One- to four-family		$	513			$	-			$	-			$	513
Other real estate owned, net
One- to four-family		$	5			$	-			$	-			$	5

Schedule of level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis

Range

Fair Value

Valuation

Unobservable

(Weighted

June 30, 2019

(in thousands)

Technique(s)

Input(s)

Average)

Loans:

1-4 family

$

593

Sales comparison approach

Adjustments for differences between comparable sales

25.3% to -50.6% (-0.6%)

Foreclosed and repossessed assets:

1-4 family

$

117

Sales comparison approach

Adjustments for differences between comparable sales

8.6% to 31.0% (29.0%)

Range

Fair Value

Valuation

Unobservable

(Weighted

June 30, 2018

(in thousands)

Technique(s)

Input(s)

Average)

Foreclosed and repossessed assets:

1-4 family

$

513

Sales comparison approach

Adjustments for differences between comparable sales

-38.5% to 20.7% (-27.8%)

Land

$

5

Sales comparison approach

Adjustments for differences between comparable sales

0.0% to 0.0% (0.0%)

Schedule of carrying value and fair value of the Company's financial instruments

						Fair Value Measurements at
(in thousands)						June 30, 2019 Using
		Carrying Value				Level 1				Level 2				Level 3				Total
Financial assets
Cash and cash equivalents		$	9,861			$	9,861											$	9,861
Time deposits in other financial institutions			6,962				6,963												6,963
Available-for-sale securities			1,045							$	1,045								1,045
Held-to-maturity securities			775								775								775
Loans receivable - net			280,969											$	285,700				285,700
Federal Home Loan Bank stock			6,482																n/a
Accrued interest receivable			758								758								758
Financial liabilities
Deposits		$	195,836			$	69,944			$	123,920							$	193,864
Federal Home Loan Bank advances			66,703								66,719								66,719
Advances by borrowers for taxes and insurance			763								763								763
Accrued interest payable			28								28								28

						Fair Value Measurements at
(in thousands)						June 30, 2018 Using
		Carrying Value				Level 1				Level 2				Level 3				Total
Financial assets
Cash and cash equivalents		$	9,943			$	9,943											$	9,943
Time deposits in other financial institutions			5,692				5,692												5,692
Available-for-sale securities			48							$	48								48
Held-to-maturity securities			1,002								998								998
Loans receivable - net			270,310											$	271,295				271,295
Federal Home Loan Bank stock			6,482																n/a
Accrued interest receivable			706								706								706
Financial liabilities
Deposits		$	195,653			$	75,163			$	120,215							$	195,378
Federal Home Loan Bank advances			53,052								53,043								53,043
Advances by borrowers for taxes and insurance			762								762								762
Accrued interest payable			22								22								22

Schedule of loans outstanding to executive officers, directors, significant shareholders and their affiliates

(in thousands)		2019				2018
Outstanding principal, beginning of year		$	845			$	983
Changes in composition of related parties			--				--
Principal disbursed during the year			538				53
Principal repaid and refinanced during the year			(137	)			(191
Outstanding principal, end of year		$	1,246			$	845

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI http://asc.fasb.org/extlink&oid=117815213&loc=SL7498348-110258

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique used to measure similar asset in prior period by class of asset or liability on non-recurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisValuationTechniquesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=118260190&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the costs related to the various types of retirement plans including defined benefit pension plan cost, defined contribution plan cost, other postretirement benefit plan cost, and net periodic benefit cost.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfCostsOfRetirementPlansTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration