Note

– Leases

Effective

July 1, 2019,

the Corporation adopted ASU

2016

02,

Leases (Topic

842

). As of

March 31, 2020,

the Corporation leases real estate for

six

office locations and various equipment under operating lease agreements. The lease agreements have maturity dates ranging from

one

year or less to

September 1, 2028,

including extension periods. Lease agreements for

four

locations have a lease term of

months or less and are therefore considered short-term leases and are exempt from Topic

842.

The weighted average remaining life of the lease term for the leases with a term over

months was

54.92

months as of

March

31,2020.

Costs associated with operating leases accounted for under Topic

842

were

$27

and

$82

for the

three

- and

nine

-month periods ended

March 31, 2020,

respectively. The costs of short-term leases were

$22

and

$66

for the

three

- and

nine

-month periods ended

March 31, 2020,

respectively. The right-of-use asset, included in premises and equipment, and lease liability, included in other liabilities, were

$500

as of

March 31, 2020.

Total estimated rental commitments for the operating leases within the scope of Topic

842

were as follows as of

March 31, 2020:

Period Ending June 30
2020	$	27
2021		105
2022		95
2023		76
2024		51
Thereafter		146
Total	$	500