Holding Company Condensed Financial Information (Tables)

12 Months Ended

Jun. 30, 2024

Holding Company Condensed Financial Information

Schedule of condensed statements of financial condition

	June 30,
(In Thousands)	2024		2023
Assets
Cash and cash equivalents	$	3,385	$	3,737
Investment in subsidiary		126,601		125,949
Other assets		64		67
	$	130,050	$	129,753
Liabilities and Stockholders’ Equity
Other liabilities	$	109	$	66
Stockholders’ equity		129,941		129,687
	$	130,050	$	129,753

Schedule of condensed statements of operations

	Year Ended June 30,
(In Thousands)	2024		2023
Dividend from the Bank	$	7,000	$	9,500
Interest and other income		2		3
Total income		7,002		9,503
General and administrative expenses		1,294		1,267
Earnings before income taxes and equity in undistributed earnings of the Bank		5,708		8,236
Income tax benefit		(382)		(373)
Earnings before equity in undistributed earnings of the Bank		6,090		8,609
Equity in undistributed earnings of the Bank		1,261		(17)
Net income	$	7,351	$	8,592

Schedule of condensed statements of cash flows

	Year Ended June 30,
(In Thousands)	2024		2023
Cash flow from operating activities:
Net income	$	7,351	$	8,592
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of the Bank		(1,261)		17
Decrease (increase) in other assets		3		(6)
Increase in other liabilities		43		29
Net cash provided by operating activities		6,136		8,632
Cash flow from financing activities:
Treasury stock purchases		(2,601)		(4,648)
Cash dividends		(3,887)		(3,998)
Net cash used for financing activities		(6,488)		(8,646)
Net decrease in cash during the year		(352)		(14)
Cash and cash equivalents at beginning of year		3,737		3,751
Cash and cash equivalents at end of year	$	3,385	$	3,737