FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

12 Months Ended

Jun. 30, 2023

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, 2023 and 2022.

	June 30, 2023
(In thousands)	Carrying  Value		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	6,861	$	6,861	$	-	$	-	$	6,861
Securities available for sale		146		-		146		-		146
Securities held to maturity		147,902		-		132,273		-		132,273
Federal Home Loan Bank of Boston stock		381		-		-		381		381
Loans, net		175,911		-		-		157,505		157,505
Accrued interest receivable		1,363		-		-		1,363		1,363
Liabilities:
Deposits		263,376		-		-		241,711		241,711
Short-term borrowings		3,675		-		-		3,667		3,667
	June 30, 2022
(In thousands)	Carrying  Value		Level 1		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