Fair Value of Assets and Liabilities (Tables)

12 Months Ended

Jun. 30, 2022

Fair Value of Assets and Liabilities

Schedule of assets and liabilities measured at fair value on a recurring basis

			Quoted Prices in		Other Observable		Unobservable
			Active Markets		Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
June 30, 2022
Available for sale debt securities
States and municipalities	$	1,067,906	$	—	$	1,067,906	$	—
Mortgage-backed		2,739,054		—		2,739,054		—
Corporate bonds		6,810,278		—		4,910,278		1,900,000
Total assets	$	10,617,238	$	—	$	8,717,238	$	1,900,000

			Quoted Prices in		Other Observable		Unobservable
			Active Markets		Inputs		Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
June 30, 2021
Available for sale debt securities
States and municipalities	$	1,887,007	$	—	$	1,887,007	$	—
Mortgage-backed		4,711,568		—		4,711,568		—
Corporate bonds		4,311,189		—		4,311,189		—
Total assets	$	10,909,764	$	—	$	10,909,764	$	—

Schedule of available for sale debt securities measured at fair value on a recurring basis using unobservable inputs

Balance at July 1, 2021	$	—
Transfer of security from Level 2 to Level 3 (December 2021)		2,000,000
Unrealized gains (losses) included in other comprehensive income (loss)		—
Balance at December 31, 2021		2,000,000
Unrealized gains (losses) included in other comprehensive income (loss)		(100,000)
Balance at March 31, 2022	$	1,900,000
Unrealized gains (losses) included in other comprehensive income (loss)		—
Balance at June 30, 2022	$	1,900,000

Schedule of estimated fair values of financial instruments

	June 30, 2022				June 30, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
Financial Assets
Cash and due from banks	$	2,418,041	$	2,418,041	$	1,989,643	$	1,989,643
Federal funds sold		6,010,000		6,010,000		44,059,000		44,059,000
Interest bearing deposits in other financial institutions		1,945,073		1,945,073		2,062,463		2,062,463
Available for sale debt securities		10,617,238		10,617,238		10,909,764		10,909,764
Held to maturity debt securities		532,363		419,000		708,949		770,438
Loans, net		185,629,872		178,080,000		144,169,318		145,596,000
Investment in restricted stock		323,000		323,000		262,200		262,200
Accrued interest receivable		565,929		565,929		552,516		552,516
Financial Liabilities
Deposits	$	188,100,448	$	172,922,000	$	171,956,117	$	174,555,000
Payroll protection program lending facility		—		—		10,372,148		10,372,148
Accrued interest payable		31,071		31,071		10,152		10,152