Deposits

12 Months Ended

Jun. 30, 2019

Banking and Thrift [Abstract]

Deposits

Note 7: Deposits

Deposits at June 30, 2019 and 2018 consisted of the following:

(Dollars in Thousands)	June 30, 2019				June 30, 2018
	Interest Rate	Amount			Interest Rate	Amount
Checking deposits – non interest-bearing	—	$	90,184		—	$	86,174
Checking deposits – interest-bearing(1)	0% - 0.30%	257,909			0% - 0.30%	259,372
Savings deposits(1)	0% - 1.29%	264,387			0% - 1.29%	289,791
Money market deposits(1)	0% - 2.00%	35,646			0% - 2.00%	34,633
Time deposits:(1)
Under $100(2)	0.00% - 2.13%	94,200			0.00% - 3.90%	116,454
$100 and over	0.15% - 2.52%	98,945			0.15% - 2.13%	121,174
Total deposits		$	841,271			$	907,598
Weighted-average interest rate on deposits		0.37		%		0.39		%

⁽¹⁾ Certain interest-bearing checking, savings, money market and time deposits require a minimum balance to earn interest.

⁽²⁾ Includes brokered deposits of $0 and $1.6 million at June 30, 2019 and 2018, respectively.

The aggregate annual maturities of time deposits at June 30, 2019 and 2018 were as follows:

(In Thousands)	June 30,
	2019		2018
One year or less	$	106,080	$	116,333
Over one to two years	37,117		65,200
Over two to three years	26,334		26,163
Over three to four years	15,135		13,890
Over four to five years	7,784		14,227
Over five years	695		1,815
Total time deposits	$	193,145	$	237,628

Interest expense on deposits for the periods indicated is summarized as follows:

	Year Ended June 30,
(In Thousands)	2019		2018
Checking deposits – interest-bearing	$	305		$	293
Savings deposits	572			595
Money market deposits	123			114
Time deposits	2,381			2,493
Total interest expense on deposits	$	3,381		$	3,495

The Bank is required to maintain reserve balances with the Federal Reserve Bank of San Francisco.  Such reserves are calculated based on deposit balances and are offset by the cash balances maintained by the Bank.  The cash balances maintained by the Bank at June 30, 2019 and 2018 were sufficient to cover the reserve requirements.