Fair Value of Financial Instruments (Tables)

6 Months Ended

Dec. 31, 2022

The following table presents financial assets measured at fair value on a recurring basis at the dates indicated:


	December 31, 2022
	Total		Level 1		Level 2		Level 3
Debt securities available for sale
U.S government agencies	$	15,399	$	—	$	15,399	$	—
MBS, residential	84,447		—		84,447		—
Municipal bonds	4,409		—		4,409		—
Corporate bonds	43,687		—		43,687		—
Total debt securities available for sale	$	147,942	$	—	$	147,942	$	—

Loans held for sale	$	518	$	—	$	518	$	—


	June 30, 2022
	Total		Level 1		Level 2		Level 3
Debt securities available for sale
U.S government agencies	$	18,459	$	—	$	18,459	$	—
MBS, residential	47,233		—		47,233		—
Municipal bonds	5,558		—		5,558		—
Corporate bonds	55,728		—		55,728		—
Total debt securities available for sale	$	126,978	$	—	$	126,978	$	—

The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated:

The stated carrying value and estimated fair value amounts of financial instruments as of December 31, 2022 and June 30, 2022, are summarized below:


	December 31, 2022
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	165,034	$	165,034	$	165,034	$	—	$	—

Certificates of deposit in other banks	29,371		29,371		—		29,371		—
Debt securities available for sale, at fair value	147,942		147,942		—		147,942		—
FHLB and FRB stock	13,661		N/A		N/A		N/A		N/A
SBIC investments	12,414		12,414		—		—		12,414
Loans held for sale, at fair value	518		518		—		518		—
Loans held for sale, at the lower of cost or fair value	72,777		74,917		—		—		74,917
Loans, net	2,946,764		2,867,148		—		—		2,867,148
Accrued interest receivable	11,076		11,076		—		642		10,434
Liabilities
Noninterest-bearing and NOW deposits	1,365,312		1,365,312		—		1,365,312		—
Money market accounts	992,083		992,083		—		992,083		—
Savings accounts	230,896		230,896		—		230,896		—
Certificates of deposit	459,729		450,270		—		450,270		—
Borrowings	130,000		130,000		—		130,000		—
Accrued interest payable	358		358		—		358		—


	June 30, 2022
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	105,119	$	105,119	$	105,119	$	—	$	—
Commercial paper, net	194,427		194,427		194,427		—		—
Certificates of deposit in other banks	23,551		23,551		—		23,551		—
Debt securities available for sale	126,978		126,978		—		126,978		—
FHLB and FRB stock	9,326		N/A		N/A		N/A		N/A
SBIC investments	12,758		12,758		—		—		12,758
Loans held for sale	79,307		80,489		—		—		80,489
Loans, net	2,734,605		2,687,293		—		—		2,687,293
Accrued interest receivable	8,573		8,573		24		580		7,969
Liabilities
Noninterest-bearing and NOW deposits	1,400,727		1,400,727		—		1,400,727		—
Money market accounts	969,661		969,661		—		969,661		—
Savings accounts	238,197		238,197		—		238,197		—
Certificates of deposit	491,176		485,452		—		485,452		—

Accrued interest payable	80		80		—		80		—