Other Comprehensive Income

12 Months Ended

Jun. 30, 2022

Other Comprehensive Income

Other Comprehensive Income

Note 14 -     Other Comprehensive Income

The changes in accumulated other comprehensive (loss) income by component for the years ended June 30, 2022 and 2021, follows:

	Unrealized
	Gains and		Unrealized
	Losses on		Losses on
	Available		Held to
	for Sale Debt		Maturity Debt
	Securities		Securities		Total
June 30, 2022
Balance, beginning of period	$	188,558	$	(67,891)	$	120,667
Other comprehensive loss before reclassifications (net of tax)		(496,717)		—		(496,717)
Amortization of amounts transferred from securities available for sale to securities held to maturity (a)		—		17,206		17,206
Amounts reclassified from accumulated other comprehensive income (net of tax) (b)		(10,185)		—		(10,185)
Balance, end of period	$	(318,344)	$	(50,685)	$	(369,029)

(a) The reclassification adjustment is reflected in the Consolidated Statement of Income as Interest Income - Debt Securities.

(b) The reclassification adjustment is reflected in the Consolidated Statement of Income as Net Gains on Securities Transactions ($14,000) and Provision for Income Taxes of ($3,815).

	Unrealized
	Gains and		Unrealized
	Losses on		Losses on
	Available		Held to
	for Sale Debt		Maturity Debt
	Securities		Securities		Total
June 30, 2021
Balance, beginning of period	$	262,688	$	(195,963)	$	66,725
Other comprehensive loss before reclassifications (net of tax)		(74,130)		—		(74,130)
Amortization of amounts transferred from debt securities available for sale to held to maturity (a)		—		128,072		128,072
Balance, end of period	$	188,558	$	(67,891)	$	120,667

(a) The reclassification adjustment is reflected in the Consolidated Statement of Income as Interest Income - Debt Securities.