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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Interest income:    
Loans $ 71,540 $ 60,049
Investment securities - tax exempt 17,594 14,385
Investment securities - taxable 10,507 8,599
Interest-bearing deposits and federal funds sold 4,023 1,592
Total interest income 103,664 84,625
Interest expense:    
Interest on deposits 49,714 20,055
Interest on borrowings 2,971 3,352
Total interest expense 52,685 23,407
Net interest income 50,979 61,218
Provision for credit losses [1] 766 (1,071)
Net interest income after provision for credit losses [1] 50,213 62,289
Noninterest income:    
Service charges on deposit accounts 4,640 4,713
Debit card fees 4,438 4,512
Investment services 1,157 781
E-commerce fees 116 110
Bank-owned life insurance 2,183 1,369
Net loss on sale of securities available-for-sale 0 (251)
Other operating income 1,374 912
Total noninterest income 13,908 12,146
Noninterest expense:    
Salaries and employee benefits 23,836 23,418
Occupancy expense 2,446 2,333
Equipment and furniture expense 710 699
Service and data processing fees 2,386 2,869
Computer software, supplies and support 1,577 1,653
Advertising and promotion 445 498
FDIC insurance premiums 1,289 1,085
Legal and professional fees 1,516 3,024
Other 3,097 3,029
Total noninterest expense 37,302 38,608
Income before provision for income taxes 26,819 35,827
Provision for income taxes 2,050 5,042
Net income $ 24,769 $ 30,785
Basic earnings per share (in dollars per share) $ 1.45 $ 1.81
Basic average shares outstanding (in shares) 17,026,828 17,026,828
Diluted earnings per share (in dollars per share) $ 1.45 $ 1.81
Diluted average shares outstanding (in shares) 17,026,828 17,026,828
Dividends per share (in dollars per share) $ 0.32 $ 0.28
[1] Effective July 1, 2023, the allowance calculation is based upon the CECL methodology.  Prior to July 1, 2023, the allowance calculation was based upon the incurred loss methodology.