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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net Income $ 1,672,070 $ 1,334,763
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation 205,013 207,951
Amortization of deferred loan fees (50,036) (535,665)
ESOP expense 40,127 48,349
Stock based compensation 130,628  
Net amortization of discounts and premiums on debt securities 101,677 119,555
Net gain on sale of loans (129,520) (308,444)
Realized gain on available for sale debt securities (24,000) (14,000)
Net gain on foreclosed assets (246,751)  
Net change in deferred taxes 249,564 362,678
Gain from proceeds on life insurance death benefit (261,297)  
Earnings on cash value of life insurance (236,420) (224,580)
Increase in interest receivable (46,795) (13,413)
Originations of loans held for sale (3,868,410) (16,779,892)
Proceeds from loans held for sale 3,997,930 17,088,336
Net amortization of operating lease right of use assets 106,855  
Net change in operating lease liabilities (113,655)  
Net change in other assets (21,880) (185,787)
Net change in other liabilities 484,029 (274,319)
Net Cash from Operating Activities 1,989,129 825,532
Investing Activities    
Net change in interest-bearing deposits in other financial institutions (1,817,066) 117,390
Purchase of debt securities available for sale   (3,500,000)
Proceeds from life insurance death benefit 966,834  
Proceeds from sales, maturities, and repayments of debt securities available for sale 1,037,601 2,987,332
Proceeds from maturities and calls of debt securities held to maturity 22,828 196,744
Purchase of bank owned life insurance   (3,000,000)
Net increase in restricted stock (447,273) (60,800)
Net change in loans (14,121,657) (40,924,889)
Purchases of property and equipment (65,363) (34,094)
Net Cash used in Investing Activities (14,424,096) (44,218,317)
Financing Activities    
Net change in deposits 9,153,858 16,144,331
Borrowings of FHLB advances 8,000,000  
Borrowings (Repayments) of PPPLF funding, net   (10,372,148)
Purchase and retirement of common stock (1,371,844)  
Net Cash from Financing Activities 15,782,014 5,772,183
Net Change in Cash and Cash Equivalents 3,347,047 (37,620,602)
Cash and Cash Equivalents, Beginning of Year 8,428,041 46,048,643
Cash and Cash Equivalents, End of Year 11,775,088 8,428,041
Supplemental Disclosure of Cash Flow Information    
Interest 2,234,990 944,133
Taxes 159,000 $ 79,000
Supplemental Schedule of Noncash Investing and Financing Activities    
Transfer of loans to foreclosed assets 2,087,809  
Lease liabilities arising from using right-of-use assets $ 698,837