Fair Value of Financial Instruments (Tables)

3 Months Ended

Sep. 30, 2021

Fair Value of Financial Instruments

Schedule of fair value assets measured on recurring basis

	Fair Value as of September 30, 2021
	Level 1		Level 2		Level 3		Total
Securities classified as available for sale:
Obligations of states and political subdivisions	$	—	$	25,578,235	$	—	$	25,578,235
US government agency obligations		—		5,624,782		—		5,624,782
Mortgage-backed securities		—		1,228,915		—		1,228,915
Municipal leases		—		999,976		—		999,976
Certificates of deposit		—		826,783		—		826,783
Total	$	—	$	34,258,691	$	—	$	34,258,691

	Fair Value as of June 30, 2021
	Level 1		Level 2		Level 3		Total
Securities classified as available for sale:
Obligations of states and political subdivisions	$	—	$	23,775,999	$	—	$	23,775,999
US government agency obligations		—		5,981,978		—		5,981,978
Mortgage-backed securities		—		1,274,916		—		1,274,916
Municipal leases		—		1,002,989		—		1,002,989
Certificates of deposit		—		832,818		—		832,818
Total	$	—	$	32,868,700	$	—	$	32,868,700

Schedule of fair value assets measured on nonrecurring basis

	Fair Value as of September 30, 2021
	Level 1		Level 2		Level 3		Total
Impaired loans with a valuation allowance, net	$	—	$	—	$	113,899	$	113,899
Other real estate owned, net		—		—		167,590		167,590
Total	$	—	$	—	$	281,489	$	281,489

	Fair Value as of June 30, 2021
	Level 1		Level 2		Level 3		Total
Impaired loans with a valuation allowance, net	$	—	$	—	$	116,906	$	116,906
Other real estate owned, net		—		—		167,590		167,590
Total	$	—	$	—	$	284,496	$	284,496

Summary of quantitative information about nonrecurring Level 3 fair value measurements

	As of September 30, 2021
	Fair Value		Valuation Technique	Unobservable Input(s)	Range/Weighted Average
Impaired loans with a valuation allowance, net	$	113,899	Market price or appraised value	Discount on appraised values for selling costs	5% - 15%
Other real estate owned, net	$	167,590	Market price or appraised value	Discount on appraised values for selling costs	5% - 15%

	As of June 30, 2021
	Fair Value		Valuation Technique	Unobservable Input(s)	Range/Weighted Average
Impaired loans with a valuation allowance, net	$	116,906	Market price or appraised value	Discount on appraised values for selling costs	5% - 15%
Other real estate owned, net	$	167,590	Market price or appraised value	Discount on appraised values for selling costs	5% - 15%