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Disclosures About Fair Value of Assets and Liabilities (Tables)

6 Months Ended

Dec. 31, 2024

Disclosures About Fair Value of Assets and Liabilities [Abstract]

Schedule of Financial Assets Measured at Fair Value on a Recurring Basis

Financial assets measured at fair value on a recurring basis are summarized below:

		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)
December 31, 2024
Agency mortgage-backed: residential		$	8,628			$	–			$	8,628			$	–
June 30, 2024
Agency mortgage-backed: residential		$	9,648			$	–			$	9,648			$	–

Schedule of Carrying Value and Fair Value of the Company’s Financial Instruments

Based on the foregoing methods and assumptions, the carrying value and fair value of the Company’s financial instruments at December 31, 2024 and June 30, 2024 are as follows:

						Fair Value Measurements at
		Carrying				December 31, 2024 Using
(in thousands)		Value				Level 1				Level 2				Level 3				Total
Financial assets
Cash and cash equivalents		$	20,976			$	20,976											$	20,976
Available-for-sale securities			8,628							$	8,628								8,628
Held-to-maturity securities			190								180								180
Loans receivable – net			330,234											$	317,845				317,845
Federal Home Loan Bank stock			4,439																n/a
Accrued interest receivable			1,264								1,264								1,264
Financial liabilities
Deposits		$	263,055			$	76,135			$	187,110								263,245
Federal Home Loan Bank advances			61,792								61,753								61,753
Advances by borrowers for taxes and insurance			206								206								206
Accrued interest payable			478								478								478

						Fair Value Measurements at
		Carrying				June 30, 2024 Using
(in thousands)		Value				Level 1				Level 2				Level 3				Total
Financial assets
Cash and cash equivalents		$	18,287			$	18,287											$	18,287
Available-for-sale securities			9,648							$	9,648								9,648
Held-to-maturity securities			213								203								203
Loans receivable - net			333,025											$	318,867				318,867
Federal Home Loan Bank stock			4,230																n/a
Accrued interest receivable			1,169								1,169								1,169
Financial liabilities
Deposits		$	256,139			$	79,567			$	176,272							$	255,839
Federal Home Loan Bank advances			68,988								68,122								68,122
Advances by borrowers for taxes and insurance			909								909								909
Accrued interest payable			176								176								176

X

- 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
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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