Condensed Financial Information (Holding Company Only) (Tables)

12 Months Ended

Jun. 30, 2017

Condensed Financial Information (Holding Company Only)

Condensed Balance Sheets

Condensed Balance Sheets

	June 30,
	2017		2016
Assets
Cash and due from financial institutions	$	5,046,023	$	6,816,101
Investment in Bank		28,547,549		27,153,439
Other assets		2,007,731		2,026,340
Total assets	$	35,601,303	$	35,995,880
Liabilities and Stockholders’ Equity
Other liabilities	$	30,000	$	21,794
Stockholders' equity		35,571,303		35,974,086
Total liabilities and stockholders’ equity	$	35,601,303	$	35,995,880

Condensed Statements of Income

Condensed Statements of Income

	Year Ended June 30,
	2017		2016
Interest income	$	82,092	$	78,342
Professional fees and other expenses		355,237		445,625
Loss before income tax and equity in undistributed net income of subsidiary		(273,145)		(367,283)
Income tax benefit		115,212		124,876
Loss before equity in undistributed net income of subsidiary		(157,933)		(242,407)
Equity in undistributed net income of subsidiary		1,392,978		1,297,165
Net income	$	1,235,045	$	1,054,758
Comprehensive income	$	1,220,387	$	1,062,889

Condensed Statements of Cash Flows

Condensed Statements of Cash Flows

	Year Ended June 30,
	2017		2016
Cash Flows from Operating Activities:
Net income	$	1,235,045	$	1,054,758
Items not providing cash		(1,366,163)		(1,168,812)
Net cash used by operating activities		(131,118)		(114,054)
Cash Flows from Investing Activities:
Downstream capital to Bank	$	—	$	(6,930,000)
Net cash used by investing activities		—		(6,930,000)
Cash Flows from Financing Activities:
ESOP Loan Finance	$	—	$	(951,912)
Stock buyback		(1,638,960)		—
Proceeds in advance of offering		—		(2,555,176)
Net cash used by financing activities		(1,638,960)		(3,507,088)
Decrease in cash and cash equivalents		(1,770,078)		(10,551,142)
Cash and Cash Equivalents
Beginning		6,816,101		17,367,243
Ending	$	5,046,023	$	6,816,101