Fair Value of Financial Instruments (Tables)

6 Months Ended

Dec. 31, 2021

Fair Value of Financial Instruments

Schedule of fair value assets measured on recurring basis

	Fair Value as of December 31, 2021
	Level 1		Level 2		Level 3		Total
Securities classified as available for sale:
Obligations of states and political subdivisions	$	—	$	30,457,298	$	—	$	30,457,298
US government agency obligations		—		5,575,899		—		5,575,899
Mortgage-backed securities		—		1,180,781		—		1,180,781
Municipal leases		—		998,590		—		998,590
Certificates of deposit		—		820,658		—		820,658
Total	$	—	$	39,033,226	$	—	$	39,033,226

	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 December 31, 2021
	Level 1		Level 2		Level 3		Total
Impaired loans with a valuation allowance, net	$	—	$	—	$	108,652	$	108,652
Other real estate owned, net		—		—		167,590		167,590
Total	$	—	$	—	$	276,242	$	276,242

	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 December 31, 2021
	Fair Value		Valuation Technique	Unobservable Input(s)	Range/Weighted Average
Impaired loans with a valuation allowance, net	$	108,652	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%