Deposits

12 Months Ended

Jun. 30, 2024

Deposits.

Deposits

Note 6: Deposits

Deposits at June 30, 2024 and 2023 consisted of the following:

	June 30, 2024				June 30, 2023
(Dollars in Thousands)	Interest Rate	Amount			Interest Rate	Amount
Checking deposits – noninterest-bearing	—	$	95,627		—	$	103,006
Checking deposits – interest-bearing(1)	0.00% - 0.20%		254,624		0.00% - 0.20%		302,872
Savings deposits(1)	0.00% - 4.64%		238,878		0.00% - 0.70%		290,204
Money market deposits(1)	0.00% - 4.64%		25,324		0.00% - 2.00%		33,551
Time deposits:
$250 and under(1)(2)	0.00% - 5.35%		226,110		0.00% - 5.25%		192,147
Over $250	0.10% - 5.12%		47,785		0.10% - 5.35%		28,791
Total deposits(3)		$	888,348			$	950,571
Weighted average interest rate on deposits			1.29	%			0.73	%

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

(2) Includes brokered certificates of deposit of $131.8 million and $106.4 million at June 30, 2024 and 2023, respectively.

(3) Includes uninsured deposits of approximately $122.7 million and $140.1 million at June 30, 2024 and 2023, respectively.

The aggregate annual maturities of time deposits at June 30, 2024 and 2023 were as follows:

	June 30,
(In Thousands)	2024		2023
One year or less	$	245,713	$	166,501
Over one to two years		19,604		37,062
Over two to three years		3,779		9,922
Over three to four years		1,896		3,069
Over four to five years		1,649		2,578
Over five years		1,254		1,806
Total time deposits	$	273,895	$	220,938

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

	Year Ended June 30,
(In Thousands)	2024		2023
Checking deposits – interest-bearing	$	118	$	140
Savings deposits		313		168
Money market deposits		172		87
Time deposits		9,063		2,751
Total interest expense on deposits	$	9,666	$	3,146

At June 30, 2024, the Bank had related party deposits of approximately $6.3 million, compared to $8.1 million at June 30, 2023. At June 30, 2024 and 2023, deposits with negative balances (i.e. overdrafts) that were reclassified to loans held for investment totaled $24,000 and $15,000, respectively. The Bank is required to maintain reserve balances with the Federal Reserve Bank of San Francisco. Effective March 26, 2020, the FRB 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, 2024 and 2023.