XML 27 R12.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Securities | 12 Months Ended
--- | ---
Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract] |
SECURITIES | NOTE B - SECURITIES The following table summarizes the amortized cost and fair value of the available for sale securities and held to maturity investment securities portfolio at June 30, 2022 and 2021 and the corresponding amounts of gross unrealized or unrecognized gains and losses. Unrealized gains or losses apply to available-for-sale securities and are recognized in accumulated other comprehensive income, while unrealized gains or losses on held-to-maturity securities are not recognized in the financial statements. The gains and losses are as follows:
|  | 2022 |
(in thousands) |  | Amortized cost |  |  | Gross unrealized gains |  |  | Gross unrealized losses |  |  | Estimated fair value |
Available-for-sale Securities |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed residential |  | $ | 10,477 |  |  | $ | - |  |  | $ | - |  |  | $ | 10,477 |
Held-to-maturity Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed: residential |  | $ | 339 |  |  | $ | 2 |  |  | $ | 18 |  |  | $ | 323 |
|  | 2021 |
(in thousands) |  | Amortized cost |  |  | Gross unrealized gains |  |  | Gross unrealized losses |  |  | Estimated fair value |
Available-for-sale Securities |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed residential |  | $ | 33 |  |  | $ | - |  |  | $ | - |  |  | $ | 33 |
Held-to-maturity Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed: residential |  | $ | 462 |  |  | $ | 16 |  |  | $ | 2 |  |  | $ | 476 |
At June 30, 2022, the Company’s debt securities consisted of mortgage-backed securities, which do not have a single maturity date. Actual maturities may differ from contractual maturities, because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. There were no sales of securities during the fiscal year ended June 30, 2022 or 2021. At June 30, 2022 the Company had $242,000 in held-to-maturity mortgage-backed securities with gross unrealized losses of $18,000, while at June 30, 2021, the Company had $258,000 in held-to-maturity mortgage-backed securities with gross unrealized losses of $2,000. Of the unrealized losses at June 30, 2022, $3,000 have been in an unrealized loss position for more than 12 months and $15,000 have been in an unrealized loss position for less than 12 months. Unrealized losses on agency mortgage-backed securities have not been recognized into income because they are of high credit quality (rated AA or higher), management does not intend to sell and it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates and other market conditions. The fair value is expected to recover as the investments reach maturity. At June 30, 2022 and 2021, pledged securities totaled $1.7 million and $1.8 million, respectively. In addition, at June 30, 2022 and 2021, our pledged assets also included time deposits and/or overnight deposits of $1.5 million and $1.5 million, respectively.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration