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Summary of Significant Accounting Policies (Tables)

12 Months Ended

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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