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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Jun. 30, 2021
Accounting Policies [Abstract] |
Schedule of contributed to the ESOP |
|  | For the fiscal year ended |
|  | June 30, |
|  | 2021 |  |  | 2020 |
Allocated shares |  |  | 99,668 |  |  |  | 104,254 |
Shares committed to be released |  |  | 9,338 |  |  |  | 9,338 |
Unearned shares |  |  | 10,261 |  |  |  | 28,936 |
Total ESOP shares |  |  | 119,267 |  |  |  | 142,528 |
Fair value of unearned shares at End of period |  | $ | 76,000 |  |  | $ | 195,000 |
Schedule of earnings per share |
|  | For the fiscal year ended |
|  | June 30, |
|  | 2021 |  |  | 2020 |
Net income (loss) allocated to common shareholders, basic and diluted |  | $ | 1,820,000 |  |  | $ | (12,547,000 | )
EARNINGS (LOSS) PER SHARE |  | $ | 0.22 |  |  | $ | (1.52 | )
Weighted average common shares outstanding, basic and diluted |  |  | 8,216,193 |  |  |  | 8,251,860 |
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 Markets for Identical Assets |  |  | Significant Other Observable Inputs |  |  | Significant Unobservable Inputs |
(in thousands) |  | Fair Value |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed: residential |  | $ | 33 |  |  | $ | -- |  |  | $ | 33 |  |  | $ | -- |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency bonds |  | $ | 503 |  |  | $ | -- |  |  | $ | 503 |  |  | $ | -- |
Agency mortgage-backed: residential |  | $ | 38 |  |  | $ | -- |  |  | $ | 38 |  |  | $ | -- |
Schedule of fair value measurements of assets and liabilities measured at fair value on a nonrecurring basis |
|  |  |  |  |  | Fair Value Measurements Using |
(in thousands) |  | Fair Value |  |  | Quotes Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other real estate owned, net One- to four-family |  | $ | 465 |  |  | $ | - |  |  | $ | - |  |  | $ | 465 |
Schedule of assets measured at fair value on a non-recurring basis |
June 30, 2020 |  | Fair Value (in thousands) |  |  | Valuation Technique(s) |  | Unobservable Input(s) |  | Range (Weighted Average) |
Foreclosed and repossessed assets: |  |  |  |  |  |  |  |  |  |  |
1-4 family |  | $ | 465 |  |  | Sales comparison approach |  | Adjustments for differences between comparable sales |  | -2.7% to 41.2% (20.4%) |
Schedule of financial instruments |
|  |  |  |  | Fair Value Measurements at |
|  | Carrying |  |  | June 30, 2021 Using |
(in thousands) |  | Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 21,648 |  |  | $ | 21,648 |  |  |  |  |  |  |  |  |  |  | $ | 21,648 |
Time deposits in other financial institutions |  |  | 247 |  |  |  | 248 |  |  |  |  |  |  |  |  |  |  |  | 248 |
Available-for-sale securities |  |  | 33 |  |  |  |  |  |  | $ | 33 |  |  |  |  |  |  |  | 33 |
Held-to-maturity securities |  |  | 462 |  |  |  |  |  |  |  | 476 |  |  |  |  |  |  |  | 476 |
Loans held for sale |  |  | 1,307 |  |  |  |  |  |  |  | 1,336 |  |  |  |  |  |  |  | 1,336 |
Loans receivable - net |  |  | 297,902 |  |  |  |  |  |  |  |  |  |  | $ | 306,346 |  |  |  | 306,346 |
Federal Home Loan Bank stock |  |  | 6,498 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | n/a |
Accrued interest receivable |  |  | 694 |  |  |  |  |  |  |  | 694 |  |  |  |  |  |  |  | 694 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 226,843 |  |  | $ | 101,951 |  |  | $ | 125,232 |  |  |  |  |  |  | $ | 227,183 |
Federal Home Loan Bank advances |  |  | 56,873 |  |  |  |  |  |  |  | 57,314 |  |  |  |  |  |  |  | 57,314 |
Advances by borrowers for taxes and insurance |  |  | 838 |  |  |  |  |  |  |  | 838 |  |  |  |  |  |  |  | 838 |
Accrued interest payable |  |  | 20 |  |  |  |  |  |  |  | 20 |  |  |  |  |  |  |  | 20 |
|  | Carrying |  |  | Fair Value Measurements at 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 |
Time 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 |
Schedule of loans outstanding |
(in thousands) |  | 2021 |  |  | 2020 |
Outstanding principal, beginning of year |  | $ | 1,047 |  |  | $ | 1,246 |
Changes in composition of related parties |  |  | 936 |  |  |  | (129 | )
Principal disbursed during the year |  |  | -- |  |  |  | -- |
Principal repaid and refinanced during the year |  |  | (578 | ) |  |  | (70 | )
Outstanding principal, end of year |  | $ | 1,405 |  |  | $ | 1,047 |

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