Deposits

12 Months Ended

Jun. 30, 2022

Deposits

Deposits

Note 6: Deposits

Deposits at June 30, 2022 and 2021 consisted of the following:

	June 30, 2022				June 30, 2021
(Dollars in Thousands)	Interest Rate	Amount			Interest Rate	Amount
Checking deposits – non interest-bearing	—	$	125,089		—	$	123,179
Checking deposits – interest-bearing(1)	0.00% - 0.20%		335,788		0.00% - 0.20%		327,388
Savings deposits(1)	0.00% - 0.70%		333,581		0.00% - 0.70%		307,299
Money market deposits(1)	0.00% - 2.00%		39,897		0.00% - 2.00%		39,670
Time deposits:(1)
Under $100	0.00% - 2.13%		60,721		0.00% - 2.13%		71,026
$100 and over	0.05% - 2.13%		60,428		0.05% - 2.13%		69,411
Total deposits		$	955,504			$	937,973
Weighted-average interest rate on deposits			0.11	%			0.15	%

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

The aggregate annual maturities of time deposits at June 30, 2022 and 2021 were as follows:

	June 30,
(In Thousands)	2022		2021
One year or less	$	78,644	$	76,705
Over one to two years		20,600		37,687
Over two to three years		13,890		11,230
Over three to four years		3,552		11,923
Over four to five years		3,186		2,493
Over five years		1,277		399
Total time deposits	$	121,149	$	140,437

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

	Year Ended June 30,
(In Thousands)	2022		2021
Checking deposits – interest-bearing	$	149	$	188
Savings deposits		172		208
Money market deposits		71		80
Time deposits		752		1,269
Total interest expense on deposits	$	1,144	$	1,745

The Bank is required to maintain reserve balances with the Federal Reserve Bank of San Francisco. Effective March 26, 2020, the Federal Reserve lowered the reserve ratios on transaction accounts maintained at a depository institution to zero percent so there was no required reserve balance at June 30, 2022 and 2021.