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Disclosures About Fair Value of Assets and Liabilities (Tables)

3 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

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

		Fair Value Measurements Using
(in thousands)		Fair Value				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
September 30, 2020
Agency mortgage-backed: residential		$	36			$	–			$	36			$	–
June 30, 2020
Agency bonds		$	503			$	–			$	503			$	–
Agency mortgage-backed: residential			38				–				38				–
		$	541			$	–			$	541			$	–

Schedule of assets measured at fair value on a non-recurring basis

Fair Value Measurements Using

(in thousands)

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, 2020

Other real estate owned, net

One- to four-family

$

465

$

–

$

–

$

465

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

										Range
		Fair Value				Valuation		Unobservable		(Weighted
June 30, 2020		(in thousands)				Technique(s)		Input(s)		Average)
Foreclosed and repossessed assets:
One- to four-family		$	465			Sales comparison approach		Adjustments  for differences between comparable sales		-2.7% to 41.2% (20.4%)

Schedule of foregoing methods and assumptions, the carrying value and fair value

						Fair Value Measurements at
		Carrying				September 30, 2020 Using
(in thousands)		Value				Level 1				Level 2				Level 3				Total
Financial assets
Cash and cash equivalents		$	17,116			$	17,116											$	17,116
Time deposits in other financial institutions			1,241				1,254												1,254
Available-for-sale securities			36							$	36								36
Held-to-maturity securities			564								582								582
Loans held for sale			1,035											$	1,064				1,064
Loans receivable - net			290,509												300,232				300,232
Federal Home Loan Bank stock			6,498																n/a
Accrued interest receivable			700								700								700
Financial liabilities
Deposits		$	215,102			$	84,030			$	131,898								215,928
Federal Home Loan Bank advances			58,392								59,140								59,140
Advances by borrowers for taxes and insurance			1,084								1,084								1,084
Accrued interest payable			24								24								24

						Fair Value Measurements at
		Carrying				June 30, 2020 Using
(in thousands)		Value				Level 1				Level 2				Level 3				Total
Financial assets
Cash and cash equivalents		$	13,702			$	13,702											$	13,702
Term deposits in other financial institutions			2,229				2,252												2,252
Available-for-sale securities			541							$	541								541
Held-to-maturity securities			598								611								611
Loans held for sale			667								685								685
Loans receivable – net			285,887											$	295,431				295,431
Federal Home Loan Bank stock			6,498																n/a
Accrued interest receivable			830								830								830
Financial liabilities
Deposits		$	212,273			$	78,118			$	135,000							$	213,118
Federal Home Loan Bank advances			54,715								55,416								55,416
Advances by borrowers for taxes and insurance			800								800								800
Accrued interest payable			27								27								27

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ 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 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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-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

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- 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

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://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 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- 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=121572278&loc=d3e13467-108611

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-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

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