Loan Commitments

12 Months Ended

Jun. 30, 2025

Loan Commitments [Abstract]

LOAN COMMITMENTS

NOTE J - LOAN COMMITMENTS

The Banks are a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of their customers, including commitments to extend credit. Such commitments involve, to varying degrees, elements of credit and interest-rate risk in excess of the amount recognized in the consolidated statements of financial condition. The contract or notional amounts of the commitments reflect the extent of the Banks’ involvement in such financial instruments.

The Banks’ exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual notional amount of those instruments. The Banks use the same credit policies in making commitments and conditional obligations as those utilized for on-balance-sheet instruments.

At June 30, 2025 and 2024, the Banks had the following outstanding loan commitments:

	2025				2024
(in thousands)	Fixed		Variable		Fixed		Variable
Unused commitment:
Revolving, open-end lines secured by real estate	$	-	$	17,614	$	-	$	14,965
Commitments to fund real estate construction loans		-		8,985		-		10,272
Other unused commitments:
Commercial and industrial loans		29		287		90		370
Other		122		632		460		741
Letters of credit		-		310		-		212

Commitments to make loans are generally made for periods of 60 days or less. There were no fixed rate loan commitments to fund real estate construction loans at June 30, 2025. Other unused commitments include real estate loan commitments, which represent the primary loans made by the Banks. Long-term, fixed rate mortgage loans are usually sold to the FHLB, as part of the Company’s interest rate risk strategy.

At June 30, 2025 and 2024, we have recorded a liability on unfunded commitments of $59,000 and $60,000, respectively