Note 16 - Parent Company Financial Statements

12 Months Ended

Jun. 30, 2021

Notes to Financial Statements

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

NOTE

16

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PARENT COMPANY FINANCIAL STATEMENTS

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

	June 30, 2021		June 30, 2020
Condensed Balance Sheets
Cash	$	226	$	258
Equity securities, at fair value		424		—
Other assets		38		274
Investment in subsidiary		69,267		62,853
Total assets	$	69,955	$	63,385
Other liabilities	$	55	$	145
Shareholders' equity		69,900		63,240
Total liabilities & shareholders' equity	$	69,955	$	63,385

	Year Ended June 30, 2021			Year Ended June 30, 2020
Condensed Statements of Income and Comprehensive Income
Cash dividends from Bank subsidiary	$	2,050		$	6,120
Other income		46			25
Other expense		281			1,050
Income before income taxes and equity in undistributed net income of subsidiary		1,815			5,095
Income tax benefit		(49	)		(189	)
Income before equity in undistributed net income of Bank subsidiary		1,864			5,284
Equity in undistributed net income of subsidiary		7,124			243
Net income	$	8,988		$	5,527
Comprehensive income	$	8,278		$	8,221

Condensed Statements of Cash Flows	Year Ended June 30, 2021			Year Ended June 30, 2020
Cash flows from operating activities:
Net income	$	8,988		$	5,527
Equity in undistributed net income of Bank subsidiary		(7,124	)		(243	)
Securities amortization and accretion, net		—			(8	)
Change in other assets and liabilities		122			(158	)
Net cash flows from operating activities		1,986			5,118
Cash flows from investing activities:
Purchase of equity securities		(400	)		—
Proceeds from sale of available-for-sale securities		—			1,654
Acquisition		—			(5,128	)
Net cash flows from investing activities		(400	)		(3,474	)
Cash flows from financing activities:
Dividend paid		(1,785	)		(1,554	)
Issuance of treasury stock for stock awards		167			130
Net cash flows from financing activities		(1,618	)		(1,424	)
Change in cash and cash equivalents		(32	)		220
Beginning cash and cash equivalents		258			38
Ending cash and cash equivalents	$	226		$	258