Note 11 - Income Taxes (Tables)

12 Months Ended

Jun. 30, 2021

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2021			2020
Current income taxes	$	2,170		$	1,273
Deferred income tax benefit		(320	)		(361	)
Total income tax expense	$	1,850		$	912

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2021			2020
Deferred tax assets:
Allowance for loan losses	$	1,317		$	1,119
Deferred compensation		896			722
Deferred income		32			46
Non-accrual loan interest income		54			42
Other		1			9
Gross deferred tax asset		2,300			1,938
Deferred tax liabilities:
Depreciation		(718	)		(742	)
Loan fees		(498	)		(402	)
FHLB stock dividends		(102	)		(102	)
Prepaid expenses		(56	)		(72	)
Intangible assets		(88	)		(102	)
Net unrealized securities gain		(944	)		(1,132	)
Gross deferred tax liabilities		(2,406	)		(2,552	)
Net deferred liability	$	(106	)	$	(614	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2021			2020
Income taxes computed at the statutory rate on pretax income	$	2,276		$	1,352
Tax exempt income		(360	)		(317	)
Cash surrender value income and death benefit		(55	)		(124	)
Tax credit		(22	)		(25	)
Other non-deductible expenses		11			26
Total income tax expense	$	1,850		$	912