Note 16 - Parent Company Financial Statements

12 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

NOTE

1

6

—PARENT COMPANY FINANCIAL STATEMENTS

The condensed financial information of Consumers Bancorp. Inc. (parent company only) follows:

	June 30, 20 20		June 30, 201 9
Condensed Balance Sheets
Assets
Cash	$	258	$	38
Securities, available-for-sale		—		1,646
Other assets		274		75
Investment in subsidiary		62,853		49,545
Total assets	$	63,385	$	51,304
Liabilities
Other liabilities	$	145	$	138
Shareholders' equity		63,240		51,166
Total liabilities & shareholders' equity	$	63,385	$	51,304

	Year Ended June 30, 20 20			Year Ended June 30, 201 9
Condensed Statements of Income and Comprehensive Income
Cash dividends from Bank subsidiary	$	6,120		$	1,620
Other income		25			40
Other expense		1,050			408
Income before income taxes and equity in undistributed net income of subsidiary		5,095			1,252
Income tax benefit		(189	)		(49	)
Income before equity in undistributed net income of Bank subsidiary		5,284			1,301
Equity in undistributed net income of subsidiary		243			4,265
Net income	$	5,527		$	5,566
Comprehensive income	$	8,221		$	8,767

Condensed Statements of Cash Flows	Year Ended June 30, 20 20			Year Ended June 30, 201 9
Cash flows from operating activities :
Net income	$	5,527		$	5,566
Equity in undistributed net income of Bank subsidiary		(243	)		(4,265	)
Securities amortization and accretion, net		(8	)		(10	)
Change in other assets and liabilities		(158	)		63
Net cash flows from operating activities		5,118			1,354
Cash flows from investing activities:
Proceeds from sale of available-for-sale securities		1,654			—
Acquisition		(5,128	)		—
Net cash flows from investing activities		(3,474	)		—
Cash flows from financing activities:
Dividend paid		(1,554	)		(1,421	)
Issuance of treasury stock for stock awards		130			59
Net cash flows from financing activities		(1,424	)		(1,362	)
Change in cash and cash equivalents		220			(8	)
Beginning cash and cash equivalents		38			46
Ending cash and cash equivalents	$	258		$	38