Fair Value of Financial Instruments (Tables)

9 Months Ended

Mar. 31, 2020

Fair Value of Financial Instruments

Schedule of fair value assets measured on recurring basis

	Fair Value as of March 31, 2020
	Level 1		Level 2		Level 3		Total
Securities classified as available for sale:
Obligations of states and political subdivisions	$	—	$	20,105,016	$	—	$	20,105,016
Mortgage-backed securities		—		1,448,230		—		1,448,230
Certificates of deposit		—		825,576		—		825,576
Total	$	—	$	22,378,822	$	—	$	22,378,822

	Fair Value as of June 30, 2019
	Level 1		Level 2		Level 3		Total
Securities classified as available for sale:
Obligations of states and political subdivisions	$	—	$	18,878,383	$	—	$	18,878,383
Mortgage-backed securities		—		1,106,138		—		1,106,138
Certificates of deposit		—		557,597		—		557,597
Total	$	—	$	20,542,118	$	—	$	20,542,118

Schedule of fair value assets measured on nonrecurring basis

	Fair Value as of March 31, 2020
	Level 1		Level 2		Level 3		Total
Impaired loans with a valuation allowance, net	$	—	$	—	$	188,183	$	188,183
Other real estate owned, net		—		—		3,302,148		3,302,148
Total	$	—	$	—	$	3,490,331	$	3,490,331

	Fair Value as of June 30, 2019
	Level 1		Level 2		Level 3		Total
Impaired loans with a valuation allowance	$	—	$	—	$	274,750	$	274,750
Other real estate owned, net		—		—		4,080,401		4,080,401
Total	$	—	$	—	$	4,355,151	$	4,355,151