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Consolidated Statement of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
INTEREST AND DIVIDEND INCOME:        
Loans, including fees $ 716 $ 806 $ 1,413 $ 1,670
Investment securities 334 398 693 835
Mortgage-backed securities 238 204 438 473
Certificates of deposit 2 4 4 10
FHLB Stock 57 47 117 136
Total interest and dividend income 1,347 1,459 2,665 3,124
INTEREST EXPENSE:        
Deposits 35 92 72 196
Federal Home Loan Bank advances – long-term – fixed rate 40 78 97 193
Federal Home Loan Bank advances – long-term – variable rate 0 19 35 92
Federal Home Loan Bank advances – short-term 70 27 115 60
Other short-term borrowings 0 0 0 1
Total interest expense 145 216 319 542
NET INTEREST INCOME 1,202 1,243 2,346 2,582
(CREDIT) PROVISION FOR LOAN LOSSES (22) (8) (36) (7)
NET INTEREST INCOME AFTER (CREDIT) PROVISION FOR LOAN LOSSES 1,224 1,251 2,382 2,589
NON-INTEREST INCOME:        
Earnings on Bank Owned Life Insurance 28 29 56 57
Investment securities gains 39 11 74 36
Other than temporary impairment (“OTTI”) losses 0 0 0 (13)
Portion of loss (gain) recognized in other comprehensive income (before taxes) 0 0 0 0
Net impairment loss recognized in earnings 0 0 0 (13)
Other 8 8 22 19
Total non-interest income 138 103 276 214
NON-INTEREST EXPENSE:        
Salaries and employee benefits 554 542 1,143 1,094
Occupancy and equipment 96 70 164 138
Data processing 58 61 120 120
Correspondent bank service charges 9 10 19 19
Federal deposit insurance premium 24 27 46 54
ATM Network expense 21 21 42 43
Other 157 145 317 288
Total non-interest expense 919 876 1,851 1,756
INCOME BEFORE INCOME TAXES 443 478 807 569
INCOME TAX EXPENSE 113 123 206 272
NET INCOME $ 330 $ 355 $ 601 $ 775
EARNINGS PER SHARE:        
Basic (in dollars per share) $ 0.19 $ 0.20 $ 0.35 $ 0.44
Diluted (in dollars per share) $ 0.19 $ 0.20 $ 0.35 $ 0.44
AVERAGE SHARES OUTSTANDING:        
Basic (in shares) 1,740,704 1,749,372 1,739,465 1,748,705
Diluted (in shares) 1,740,704 1,749,372 1,739,465 1,748,705
Deposit Account [Member]        
NON-INTEREST INCOME:        
Non-interest revenue $ 26 $ 19 $ 48 $ 41
ATM Fee Income [Member]        
NON-INTEREST INCOME:        
Non-interest revenue $ 37 $ 36 $ 76 $ 74