FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

12 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Summary Of financial assets and liabilities measured at fair value on a recurring basis

The following table summarizes financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2022 and June 30, 2021.

	June 30, 2022
(Dollars in thousands)	Carrying  Value		Level 1		Fair Value Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	31,667	$	31,667	$	-	$	-	$	31,667
Securities available for sale		199		-		199		-		199
Securities held to maturity		145,239		-		133,593		-		133,593
Federal Home Loan Bank of Boston stock		191		-		-		191		191
Loans - net		172,593		-		-		161,098		161,098
Accrued interest receivable		1,265		-		-		1,265		1,265
Liabilities:
Deposits		287,075		-		-		268,039		268,039

	June 30, 2021
(Dollars in thousands)	Carrying  Value		Level 1		Fair Value Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	40,678	$	40,678	$	-	$	-	$	40,678
Certificates of deposits		980		-		988		-		988
Securities available for sale		2,294		-		2,294		-		2,294
Securities held to maturity		105,114		-		107,391		-		107,391
Federal Home Loan Bank of Boston stock		453		-		-		453		453
Loans - net		174,433		-		-		177,324		177,324
Accrued interest receivable		1,146		-		-		1,146		1,146
Liabilities:
Deposits		284,674		-		-		285,955		285,955
Short-term borrowings		918		-		-		925		925
Accrued interest payable		3		-		-		3		3