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Consolidated Statement of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2022
Mar. 31, 2021
INTEREST AND DIVIDEND INCOME:        
Loans, including fees $ 700 $ 753 $ 2,113 $ 2,422
Investment securities 334 370 1,027 1,205
Mortgage-backed securities 276 149 714 623
Certificates of deposit 1 3 5 13
FHLB Stock 70 38 187 174
Total interest and dividend income 1,381 1,313 4,046 4,437
INTEREST EXPENSE:        
Deposits 34 61 106 257
Federal Home Loan Bank advances – long-term – fixed rate 38 76 135 269
Federal Home Loan Bank advances – long-term – variable rate 0 19 35 111
Federal Home Loan Bank advances – short-term 93 25 208 85
Other short-term borrowings 0 0 0 1
Total interest expense 165 181 484 723
NET INTEREST INCOME 1,216 1,132 3,562 3,714
(CREDIT) PROVISION FOR LOAN LOSSES (16) (8) (52) (15)
NET INTEREST INCOME AFTER (CREDIT) PROVISION FOR LOAN LOSSES 1,232 1,140 3,614 3,729
NON-INTEREST INCOME:        
Earnings on Bank Owned Life Insurance 28 28 84 85
Investment securities gains 0 56 74 93
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 10 11 32 30
Total non-interest income 96 152 372 367
NON-INTEREST EXPENSE:        
Salaries and employee benefits 548 632 1,691 1,726
Occupancy and equipment 61 71 225 208
Data processing 59 60 179 181
Correspondent bank service charges 10 10 29 29
Federal deposit insurance premium 25 8 71 62
ATM Network expense 20 21 62 64
Other 151 134 468 422
Total non-interest expense 874 936 2,725 2,692
INCOME BEFORE INCOME TAXES 454 356 1,261 1,404
INCOME TAX EXPENSE 116 91 322 363
NET INCOME $ 338 $ 265 $ 939 $ 1,041
EARNINGS PER SHARE:        
Basic (in dollars per share) $ 0.19 $ 0.15 $ 0.54 $ 0.59
Diluted (in dollars per share) $ 0.19 $ 0.15 $ 0.54 $ 0.59
AVERAGE SHARES OUTSTANDING:        
Basic (in shares) 1,741,446 1,751,849 1,740,117 1,749,739
Diluted (in shares) 1,741,446 1,751,849 1,740,117 1,749,739
Deposit Account [Member]        
NON-INTEREST INCOME:        
Non-interest revenue $ 26 $ 22 $ 74 $ 63
ATM Fee Income [Member]        
NON-INTEREST INCOME:        
Non-interest revenue $ 32 $ 35 $ 108 $ 109