Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2023

Significant Accounting Policies

Schedule of Error Corrections and Prior Period Adjustments

	September 30, 2022		2021		As
	As Previously Reported		Adjustments		Revised
Assets
Deferred tax asset	$	65,171	$	481,798	$	546,969
Total Assets	$	235,792,702	$	481,798	$	236,274,500
Liabilities and Stockholders'
Equity
Retained earnings	$	23,934,585	$	481,798	$	24,416,383
Total stockholders' equity		31,170,144		481,798		31,651,942
Total Liabilities and Stockholders' Equity	$	235,792,702	$	481,798	$	236,274,500

	December 31, 2022		2021		As
	As Previously Reported		Adjustments		Revised
Assets
Other assets	$	1,086,721	$	481,798	$	1,568,519
Total Assets	$	236,207,808	$	481,798	$	236,689,606
Liabilities and Stockholders'
Equity
Retained earnings	$	24,235,985	$	481,798	$	24,717,783
Total stockholders' equity		31,219,600		481,798		31,701,398
Total Liabilities and Stockholders' Equity	$	236,207,808	$	481,798	$	236,689,606

	March 31, 2023		2021		As
	As Previously Reported		Adjustments		Revised
Assets
Other assets	$	1,027,381	$	481,798	$	1,509,179
Total Assets	$	238,290,970	$	481,798	$	238,772,768
Liabilities and Stockholders'
Equity
Retained earnings	$	24,601,681	$	481,798	$	25,083,479
Total stockholders' equity		30,382,205		481,798		30,864,003
Total Liabilities and Stockholders' Equity	$	238,290,970	$	481,798	$	238,772,768

	September 30, 2021		2021		As
	As Previously Reported		Adjustments		Revised
Assets
Deferred tax asset	$	150,382	$	481,798	$	632,180
Total Assets	$	206,622,110	$	481,798	$	207,103,908
Liabilities and Stockholders'
Equity
Retained earnings	$	22,505,760	$	481,798	$	22,987,558
Total stockholders' equity		30,282,157		481,798		30,763,955
Total Liabilities and Stockholders' Equity	$	206,622,110	$	481,798	$	207,103,908

	December 31, 2021		2021		As
	As Previously Reported		Adjustments		Revised
Assets
Deferred tax asset	$	94,133	$	481,798	$	575,931
Total Assets	$	215,213,828	$	481,798	$	215,695,626
Liabilities and Stockholders'
Equity
Retained earnings	$	22,790,625	$	481,798	$	23,272,423
Total stockholders' equity		30,527,955		481,798		31,009,753
Total Liabilities and Stockholders' Equity	$	215,213,828	$	481,798	$	215,695,626

	March 31, 2022		2021		As
	As Previously Reported		Adjustments		Revised
Assets
Deferred tax asset	$	141,142	$	481,798	$	622,940
Total Assets	$	220,763,196	$	481,798	$	221,244,994
Liabilities and Stockholders'
Equity
Retained earnings	$	23,039,451	$	481,798	$	23,521,249
Total stockholders' equity		30,503,088		481,798		30,984,886
Total Liabilities and Stockholders' Equity	$	220,763,196	$	481,798	$	221,244,994

Schedule of calculation of earnings per share

		Years Ended June 30,
	2023		2022
Net income applicable to common stock	$	1,672,070	$	1,334,763
Average number of shares outstanding		2,189,017		2,229,497
Less: Average unallocated ESOP shares		80,405		84,402
Average number of common shares outstanding used to calculate basic earnings per share		2,108,612		2,145,095
Effect of dilutive restricted stock awards		3,897		-
Average number of common shares outstanding used to calculate dilutive earnings per share		2,112,509		2,145,095
Earnings per common share:
Basic	$	0.79	$	0.62
Diluted		0.79		0.62