v3.22.2.2
Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2022
Jun. 30, 2021
ASSETS    
Cash and due from financial institutions $ 2,002 $ 1,834
Fed funds sold 14,824 5,001
Interest-bearing demand deposits 8,997 14,813
Cash and cash equivalents 25,823 21,648
Time deposits in other financial institutions 247
Securities available for sale 10,477 33
Securities held-to-maturity, at amortized cost- approximate fair value of $323 and $476 at June 30, 2022 and 2021, respectively 339 462
Loans held for sale 152 1,307
Loans, net of allowance of $1,529 and $1,622 at June 30, 2022 and 2021, respectively 274,583 297,902
Other real estate owned, net 10 82
Premises and equipment, net 4,563 4,697
Federal Home Loan Bank stock, at cost 6,498 6,498
Accrued interest receivable 649 694
Bank-owned life insurance 2,750 2,672
Goodwill 947 947
Prepaid income taxes 382 40
Prepaid expenses and other assets 907 834
Total assets 328,080 338,063
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Deposits 239,857 226,843
Federal Home Loan Bank advances 34,066 56,873
Advances by borrowers for taxes and insurance 766 838
Accrued interest payable 12 20
Deferred income taxes 889 614
Other liabilities 465 579
Total liabilities 276,055 285,767
Commitments and contingencies
Shareholders’ equity    
Preferred stock, 500,000 shares authorized, $.01 par value; no shares issued and outstanding
Common stock, 20,000,000 shares authorized, $.01 par value; 8,596,064 shares issued 86 86
Additional paid-in capital 34,892 34,916
Retained earnings 20,560 20,364
Unearned employee stock ownership plan (ESOP) (5) (102)
Treasury shares at cost, 441,369 and 369,349 common shares at June 30, 2022 and 2021, respectively (3,508) (2,968)
Accumulated other comprehensive income
Total shareholders’ equity 52,025 52,296
Total liabilities and shareholders’ equity $ 328,080 $ 338,063