Defined Benefit Pension Plan (Tables)

12 Months Ended

Jun. 30, 2019

Defined Benefit Pension Plan

Schedule of plan's funded status

	June 30, 2019		June 30, 2018
Change in projected benefit obligation
Projected benefit obligation at beginning of year	$	9,453,322	$	9,732,735
Interest cost		398,439		287,227
Benefits paid		(144,765)		(93,032)
Actuarial (gain) loss		894,036		(473,608)
Settlement		—		—
Projected benefit obligation at end of year		10,601,032		9,453,322
Change in plan assets
Fair value of plan assets at beginning of year		9,691,252		9,131,715
Actual return on assets		223,683		652,520
Employer contributions		—		4,603
Expenses paid from trust		—		(4,554)
Benefits paid		(144,765)		(93,032)
Fair value of plan assets at end of year		9,770,170		9,691,252
Funded status at end of year	$	(830,862)	$	237,930

Schedule of amounts recognized in the consolidated balance sheets in accrued interest payable and other liabilities and accumulated other comprehensive loss

	June 30, 2019		June 30, 2018
Pension (liability) asset	$	(830,862)	$	237,930

	June 30, 2019		June 30, 2018
Accumulated pension actuarial loss, net of income tax benefit of $1,522,485 and $1,522,485, respectively	$	2,506,295	$	1,285,024

Schedule of components of net periodic pension cost (income) included in compensation and benefits on the statements of operations

	June 30, 2019		June 30, 2018
Interest cost	$	398,439	$	287,227
Expected return on plan assets		(672,908)		(477,617)
Amortization of net actuarial loss		121,990		125,330
Net periodic pension income	$	(152,479)	$	(65,060)

Schedule of projected benefit payments

2020	$	3,310,900
2021		142,700
2022		142,500
2023		512,600
2024		510,100
2025-2029		4,513,300
	$	9,132,100

Schedule of percentage of the fair value of total Plan assets

	June 30, 2019		June 30, 2018
Cash Equivalents	5.6	%	0.9	%
Equities
Large Cap	43.0	%	59.9	%
Mid Cap	3.4	%	3.4	%
Small Cap	33.7	%	31.3	%
International	2.1	%	2.5	%
Other	8.5	%	—
Alternatives/Multi-Asset	3.7	%	—
Fixed Income
Certificates of deposit	—		2.0	%
Total	100.0	%	100.0	%