LOANS AND RELATED ALLOWANCE FOR LOAN LOSSES (Tables)

9 Months Ended

Mar. 31, 2020

Receivables [Abstract]

Schedule of Primary Segments of Loan Portfolio

The following table summarizes the primary segments of the loan portfolio as of March 31, 2020 and June 30, 2019.

		March 31, 2020							June 30, 2019
		Total Loans			Individually evaluated for impairment		Collectively evaluated for impairment		Total Loans			Individually evaluated for impairment		Collectively evaluated for impairment
		(Dollars in Thousands)
First mortgage loans:
1 – 4 family dwellings	$		79,166		$	-	$	79,166	$	76,789		$	-	$	76,789
Construction			1,335			-		1,335		2,907			-		2,907
Land acquisition & development			446			-		446		694			-		694
Multi-family dwellings			2,562			-		2,562		3,123			-		3,123
Commercial			4,182			-		4,182		3,727			-		3,727
Consumer loans
Home equity			1,030			-		1,030		906			-		906
Home equity lines of credit			1,859			-		1,859		1,953			-		1,953
Other			143			-		143		112			-		112
Commercial loans			11			-		11		418			-		418
	$		90,734		$	-	$	90,734	$	90,629		$	-	$	90,629
Plus: Deferred loan costs			441							507
Allowance for loan losses			(523	)						(548	)
Total	$		90,652						$	90,588

Schedule of Nonaccrual Loans

Total nonaccrual loans as of March 31, 2020 and June 30, 2019 and the related interest income recognized for the three and nine months ended March 31, 2020 and March 31, 2019 are as follows:

		March 31,         2020			June 30,         2019
		(Dollars in Thousands)
Principal outstanding
1 – 4 family dwellings	$		-	$		225
Construction			-			-
Land acquisition & development			-			-
Commercial real estate			-			-
Home equity lines of credit			-			-
Total	$		-	$		225

		Three Months Ended						Nine Months Ended
		March 31,			March 31,			March 31,			March 31,
		2020			2019			2020			2019
		(Dollars in Thousands)
Average nonaccrual loans
1 – 4 family dwellings	$		-	$		230	$		62	$		232
Construction			-			-			-			-
Land acquisition & development			-			-			-			-
Commercial real estate			-			-			-			-
Home equity lines of credit			-			-			-			-
Total	$		-	$		230	$		62	$		232
Income that would have been recognized	$		-	$		5	$		8	$		11
Interest income recognized	$		-	$		5	$		8	$		11

Schedule of Loan Portfolio by Aging Categories

The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of March 31, 2020 and June 30, 2019:

		Current			30 – 59   Days Past   Due			60 – 89   Days Past   Due			90 Days +   Past Due Accruing			90 Days +   Past Due Non-accrual			Total   Past   Due			Total Loans
		(Dollars in Thousands)
March 31, 2020
First mortgage loans:
1 – 4 family dwellings	$		79,166	$		-	$		-	$		-	$		-	$		-	$		79,166
Construction			1,335			-			-			-			-			-			1,335
Land acquisition & development			446			-			-			-			-			-			446
Multi-family dwellings			2,562			-			-			-			-			-			2,562
Commercial			4,182			-			-			-			-			-			4,182
Consumer Loans:
Home equity			1,030			-			-			-			-			-			1,030
Home equity lines of credit			1,859			-			-			-			-			-			1,859
Other			143			-			-			-			-			-			143
Commercial Loans			11			-			-			-			-			-			11
	$		90,734	$		-	$		-	$		-	$		-	$		-			90,734
Plus: Deferred loan fees																					441
Allowance for loan losses																					(523	)
Net Loans Receivable																			$		90,652
		Current			30 – 59   Days Past   Due			60 – 89   Days Past   Due			90 Days +   Past Due Accruing			90 Days +   Past Due Non-accrual			Total   Past   Due			Total Loans
		(Dollars in Thousands)
June 30, 2019
First mortgage loans:
1 – 4 family dwellings	$		76,564	$		-	$		-	$		-	$		225	$		225	$		76,789
Construction			2,907			-			-			-			-			-			2,907
Land acquisition & development			694			-			-			-			-			-			694
Multi-family dwellings			3,123			-			-			-			-			-			3,123
Commercial			3,727			-			-			-			-			-			3,727
Consumer Loans
Home equity			906			-			-			-			-			-			906
Home equity lines of credit			1,953			-			-			-			-			-			1,953
Other			112			-			-			-			-			-			112
Commercial Loans			418			-			-			-			-			-			418
	$		90,404	$		-	$		-	$		-	$		225	$		225			90,629
Plus: Deferred loan costs																					507
Allowance for loan losses																					(548	)
Net Loans Receivable																			$		90,588

Schedule of Loans by Internal Classification

The following tables present the Company’s internally classified construction, land acquisition and development, multi-family dwellings, commercial real estate and commercial (not secured by real estate) loans at March 31, 2020 and June 30, 2019.

		March 31, 2020
		Construction			Land Acquisition & Development			Multi- family Residential			Commercial Real Estate			Commercial
		(Dollars in Thousands)
Pass	$		1,335	$		446	$		2,562	$		4,182	$		11
Special Mention			-			-			-			-			-
Substandard			-			-			-			-			-
Doubtful			-			-			-			-			-
Ending Balance	$		1,335	$		446	$		2,562	$		4,182	$		11

		June 30, 2019
		(Dollars in Thousands)
	Construction				Land Acquisition &   Development   Loans			Multi-family   Residential			Commercial   Real Estate			Commercial
Pass	$		2,907	$		694	$		3,123	$		3,727	$		418
Special Mention			-			-			-			-			-
Substandard			-			-			-			-			-
Doubtful			-			-			-			-			-
Ending Balance	$		2,907	$		694	$		3,123	$		3,727	$		418

Schedule of Performing and Non-Performing Loans

The following table presents performing and non-performing 1 – 4 family residential and consumer loans based on payment activity for the periods ended March 31, 2020 and June 30, 2019.

		March 31, 2020
		1 – 4 Family			Consumer
		(Dollars in Thousands)
Performing	$		79,166	$		3,032
Non-performing			-			-
Total	$		79,166	$		3,032
		June 30, 2019
		1 – 4 Family			Consumer
		(Dollars in Thousands)
Performing	$		76,564	$		2,971
Non-performing			225			-
Total	$		76,789	$		2,971

Schedule of Primary Segments of Allowance for Loan Losses

The following tables summarize the primary segments of the allowance for loan losses (“ALLL”), segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of March 31, 2020 and 2019. Activity in the allowance is presented for the three and nine months ended March 31, 2020 and 2019.

		For the three months ended
		March 31, 2020
		First Mortgage Loans
		1 – 4     Family				Construction				Land   Acquisition &   Development			Multi-   family			Commercial			Consumer   Loans				Commercial   Loans			Total
		(Dollars in Thousands)
Beginning ALLL Balance at December 31, 2019	$		398		$		37		$		4	$		13	$		45	$		32		$		1	$		530
Charge-offs			-				-				-			-			-			-				-			-
Recoveries			-				-				-			-			-			-				-			-
Provisions			(2	)			(5	)			-			-			2			(2	)			-			(7	)
Ending ALLL Balance at March 31, 2020	$		396		$		32		$		4	$		13	$		47	$		30		$		1	$		523
Individually evaluated for impairment	$		-		$		-		$		-	$		-	$		-	$		-		$		-	$		-
Collectively evaluated for impairment			396				32				4			13			47			30				1			523
	$		396		$		32		$		4	$		13	$		47	$		30		$		1	$		523

		For the nine months ended
		March 31, 2020
		First Mortgage Loans
		1 – 4   Family				Construction				Land   Acquisition &   Development				Multi-   family				Commercial				Consumer   Loans				Commercial   Loans				Total
		(Dollars in Thousands)
Beginning ALLL Balance at June 30, 2019	$		405		$		46		$		10		$		17		$		37		$		30		$		3		$		548
Charge-offs			-				-				-				-				-				-				-				-
Recoveries			-				-				-				-				-				-				-				-
Provisions			(9	)			(14	)			(6	)			(4	)			10				-				(2	)			(25	)
Ending ALLL Balance at March 31, 2020	$		396		$		32		$		4		$		13		$		47		$		30		$		1		$		523
Individually evaluated for impairment	$		-		$		-		$		-		$		-		$		-		$		-		$		-		$		-
Collectively evaluated for impairment			396				32				4				13				47				30				1				523
	$		396		$		32		$		4		$		13		$		47		$		30		$		1		$		523
		For the three months ended
		March 31, 2019
		First Mortgage Loans
		1 – 4   Family				Construction				Land   Acquisition &   Development				Multi-   family				Commercial				Consumer   Loans				Commercial   Loans				Total
		(Dollars in Thousands)
Beginning ALLL Balance at December 31, 2018	$		373		$		25		$		10		$		18		$		39		$		33		$		3		$		501
Charge-offs			-				-				-				-				-				-				-				-
Recoveries			-				-				-				-				-				-				-				-
Provisions			6				8				-				(1	)			(1	)			(3	)			-				9
Ending ALLL Balance at March 31, 2019	$		379		$		33		$		10		$		17		$		38		$		30		$		3		$		510
Individually evaluated for impairment	$		-		$		-		$		-		$		-		$		-		$		-		$		-		$		-
Collectively evaluated for impairment			379				33				10				17				38				30				3				510
	$		379		$		33		$		10		$		17		$		38		$		30		$		3		$		510

		For the nine months ended
		March 31, 2019
		First Mortgage Loans
		1 – 4   Family			Construction			Land   Acquisition &   Development			Multi-   family				Commercial			Consumer   Loans				Commercial   Loans				Total
					(Dollars in Thousands)
Beginning ALLL Balance at June 30, 2018	$		356	$		24	$		-	$		18		$		35	$		31		$		4		$		468
Charge-offs			-			-			-			-				-			-				-				-
Recoveries			-			-			-			-				-			-				-				-
Provisions			23			9			10			(1	)			3			(1	)			(1	)			42
Ending ALLL Balance at March 31, 2019	$		379	$		33	$		10	$		17		$		38	$		30		$		3		$		510
Individually evaluated for impairment	$		-	$		-	$		-	$		-		$		-	$		-		$		-		$		-
Collectively evaluated for impairment			379			33			10			17				38			30				3				510
	$		379	$		33	$		10	$		17		$		38	$		30		$		3		$		510