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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2025

Income Taxes [Abstract]

Schedule of Statutory Corporate Tax Rate

Federal income taxes on earnings differs from that computed at the statutory corporate tax rate for the years ended June 30, 2025 and 2024, as follows:

(in thousands)		2025				2024
Income tax expense (benefit) at the statutory rate		$	54			$	(411	)
Increase (decrease) resulting from:
Cash surrender value of life insurance			(18	)			(18	)
State income tax expense (benefit)			13				(30	)
Goodwill Impairment			-				199
Other			8				21
		$	57			$	(239	)

Schedule of Net Deferred Tax Liability

The composition of the Company’s net deferred tax liability at June 30 is as follows:

(in thousands)		2025				2024
Taxes (payable) refundable on temporary differences at estimated corporate tax rate:
Deferred tax assets:
General loan loss allowance		$	542			$	531
Unfunded Commitments			15				14
Accrued expenses			45				44
Fair value accounting adjustments at acquisition			63				71
Nonaccrued interest on loans			105				115
Unrealized loss on available-for-sale securities			48				112
Depreciation			86				82
Net operating loss carryforwards			45				107
Total deferred tax assets			949				1,076
Deferred tax liabilities:
Federal Home Loan Bank stock dividends			(269	)			(344	)
Deferred loan origination costs			(24	)			(57	)
Loan servicing rights			(51	)			(41	)
Accrual to cash adjustment			(101	)			(216	)
Fair value accounting adjustments on acquisition			(534	)			(535	)
Total deferred tax liabilities			(979	)			(1,193	)
Net deferred tax liability		$	(30	)		$	(117	)

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- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

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