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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Activities    
Net income $ 950,782 $ 975,192
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 153,227 152,464
ESOP expense 38,736  
Net amortization of discounts and premiums on debt securities 92,766 104,386
Amortization of deferred loan fees, net (528,901) (254,799)
Net gain on sale of loans (260,775) (921,293)
Realized gain on available for sale debt securities (14,000)  
Net gains and write down on foreclosed assets   (10,840)
Net change in deferred taxes 259,413 327,193
Earnings on cash value of life insurance (164,447) (123,893)
Decrease in interest receivable 46,779 39,352
Originations of loans held for sale (14,480,692) (43,581,265)
Proceeds from loans held for sale 14,741,467 44,502,558
Net change in other assets (63,598) (1,093,611)
Net change in other liabilities (181,385) (424,007)
Net Cash from Operating Activities 589,372 (308,563)
Investing Activities    
Net change in interest-bearing deposits in other financial institutions 729,259 (1,138,477)
Purchase of debt securities available for sale (3,500,000)  
Proceeds from sales, maturities, and repayments of debt securities available for sale 2,631,411 3,704,986
Proceeds from maturities and calls of debt securities held to maturity 173,235 1,928,017
Purchase of bank owned life insurance (3,000,000)  
Net change in loans (19,111,523) (22,501,149)
Proceeds from sale of foreclosed assets   74,920
Purchases of property and equipment (25,064) (40,546)
Net Cash (used in) from Investing Activities (22,102,682) (17,972,249)
Financing Activities    
Net change in deposits 17,035,492 42,861,418
Repayments of FHLB advances   (4,000,000)
Repayments of PPPLF funding, net (10,372,148) 5,740,692
Net Cash (used in) from Financing Activities 6,663,344 44,602,110
Net Change in Cash and Cash Equivalents (14,849,966) 26,321,298
Cash and Cash Equivalents, Beginning of Year 46,048,643 24,274,747
Cash and Cash Equivalents, End of Year 31,198,677 50,596,045
Supplemental Disclosure of Cash Flow Information    
Interest 687,430 $ 831,109
Taxes $ 72,000