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Consolidated Statements of Income - USD ($)
12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Interest Income    
Loans, including fees $ 8,181,894 $ 6,758,834
Debt securities 249,518 331,106
Other 546,398 67,202
Total interest income 8,977,810 7,157,142
Interest Expense    
Deposits 2,175,876 940,953
Borrowings and other 102,623 6,814
Total interest expense 2,278,499 947,767
Net Interest Income 6,699,311 6,209,375
Net Interest Income After Provision for Loan Losses 6,699,311 6,209,375
Non-Interest Income    
Service charges on deposit accounts 153,069 165,495
Mortgage banking income 351,377 689,334
Increase in cash value of life insurance 236,420 224,580
Gain on proceeds from life insurance death benefit 261,297  
Net gain on securities transactions 24,000 14,000
Gain on acquisition of foreclosed assets 246,751  
Other income 28,664 24,938
Total non-interest income 1,301,578 1,118,347
Non-Interest Expenses    
Salaries and employee benefits 3,296,003 3,135,242
Occupancy and equipment expenses 730,989 710,842
Data processing and office 400,918 393,768
Professional fees 712,246 656,954
Marketing expenses 87,179 77,626
Debit card expenses 89,886 78,142
Directors fees 89,256 67,900
Other expenses 477,607 435,103
Total non-interest expenses 5,884,084 5,555,577
Income Before Income Taxes 2,116,805 1,772,145
Provision for Income Taxes 444,735 437,382
Net Income $ 1,672,070 $ 1,334,763
Net income per common shares-basic $ 0.79 $ 0.62
Net income per common shares-diluted $ 0.79 $ 0.62
Weighted average number of common shares outstanding-basic 2,108,612 2,145,095
Weighted average number of common shares outstanding-diluted 2,112,509 2,145,095