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Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Interest and dividend income        
Loans, including fees $ 10,288 $ 8,477 $ 30,150 $ 23,562
Securities, taxable 1,508 1,343 4,447 3,892
Securities, tax-exempt 447 564 1,370 1,747
Equity securities 8 8 25 25
Federal bank and other restricted stocks 45 34 128 104
Federal funds sold and other interest-bearing deposits 110 95 209 291
Total interest and dividend income 12,406 10,521 36,329 29,621
Interest expense        
Deposits 4,282 2,084 11,644 3,808
Short-term borrowings 205 120 467 274
Federal Home Loan Bank advances 93 88 274 138
Total interest expense 4,580 2,292 12,385 4,220
Net interest income 7,826 8,229 23,944 25,401
Provision for credit losses on loans 15 160 380 795
Provision for credit losses on unfunded commitments 23 0 102 0
Net interest income after provision for credit losses 7,788 8,069 23,462 24,606
Noninterest income        
Mortgage banking activity 79 96 247 250
Bank owned life insurance income 70 66 208 196
Securities losses, net (1) (2) (80) (17)
Net change in market value of equity securities 0 19 0 (14)
Other 96 79 280 265
Total noninterest income 1,219 1,176 3,618 3,462
Noninterest expenses        
Salaries and employee benefits 3,604 3,512 10,786 10,542
Occupancy and equipment 921 783 2,567 2,364
Data processing expenses 204 195 599 579
Debit card processing expenses 298 275 918 824
Professional and director fees 267 210 732 797
FDIC assessments 210 159 587 398
Franchise taxes 121 97 314 379
Marketing and advertising 154 151 538 558
Telephone and network communications 90 88 267 270
Amortization of intangible 14 14 42 42
Other 637 560 1,866 1,689
Total noninterest expenses 6,520 6,044 19,216 18,442
Income before income taxes 2,487 3,201 7,864 9,626
Income tax expense 435 565 1,387 1,646
Net income $ 2,052 $ 2,636 $ 6,477 $ 7,980
Basic and diluted earnings per share (in dollars per share) $ 0.66 $ 0.86 $ 2.09 $ 2.6
Deposit Account [Member]        
Noninterest income        
Noninterest income (in scope of Topic 606) $ 402 $ 386 $ 1,261 $ 1,175
Debit Card [Member]        
Noninterest income        
Noninterest income (in scope of Topic 606) $ 573 $ 532 $ 1,702 $ 1,607