Holding Company Condensed Financial Information (Tables)

12 Months Ended

Jun. 30, 2022

Holding Company Condensed Financial Information

Schedule of condensed statements of financial condition

	June 30,
(In Thousands)	2022		2021
Assets
Cash and cash equivalents	$	3,751	$	5,576
Investment in subsidiary		124,875		121,696
Other assets		61		60
	$	128,687	$	127,332
Liabilities and Stockholders’ Equity
Other liabilities	$	37	$	52
Stockholders’ equity		128,650		127,280
	$	128,687	$	127,332

Schedule of condensed statements of operations

	Year Ended June 30,
(In Thousands)	2022		2021
Dividend from the Bank	$	7,500	$	5,000
Interest and other income		3		5
Total income		7,503		5,005
General and administrative expenses		1,219		1,117
Earnings before income taxes and equity in undistributed earnings of the Bank		6,284		3,888
Income tax benefit		(358)		(328)
Earnings before equity in undistributed earnings of the Bank		6,642		4,216
Equity in undistributed earnings of the Bank		2,451		3,345
Net income	$	9,093	$	7,561

Schedule of condensed statements of cash flows

	Year Ended June 30,
(In Thousands)	2022		2021
Cash flow from operating activities:
Net income	$	9,093	$	7,561
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of the Bank		(2,451)		(3,345)
(Increase) decrease in other assets		(1)		48
Decrease in other liabilities		(15)		(2)
Net cash provided by operating activities		6,626		4,262
Cash flow from financing activities:
Exercise of stock options		—		981
Treasury stock purchases		(4,305)		(2,336)
Cash dividends		(4,146)		(4,173)
Net cash used for financing activities		(8,451)		(5,528)
Net decrease in cash during the year		(1,825)		(1,266)
Cash and cash equivalents at beginning of year		5,576		6,842
Cash and cash equivalents at end of year	$	3,751	$	5,576