v3.25.2
Note 10 - Income Taxes (Tables)
12 Months Ended
Jun. 30, 2025
Notes Tables  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
   

2025

   

2024

 

Current income taxes

  $ 2,115     $ 2,087  

Deferred income tax benefit

    (458

)

    (242 )

Total income tax expense

  $ 1,657     $ 1,845  
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
   

2025

   

2024

 

Deferred tax assets:

               

Allowance for credit losses

  $ 1,859     $ 1,743  

Deferred compensation

    1,160       1,026  

Limited partnership interests

    503       154  

Deferred income

    116       132  

Non-accrual loan interest income

    19       22  

Net unrealized securities loss

    5,995       7,532  

Other

    25       3  

Gross deferred tax asset

    9,677       10,612  
                 

Deferred tax liabilities:

               

Depreciation

    (771

)

    (776

)

Loan fees

    (711

)

    (663

)

FHLB stock dividends

    (102

)

    (102

)

Prepaid expenses

    (205

)

    (176

)

Intangible assets

    (330

)

    (258

)

Gross deferred tax liabilities

    (2,119

)

    (1,975

)

Net deferred tax asset

  $ 7,558     $ 8,637  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
   

2025

   

2024

 

Income taxes computed at the statutory rate on pretax income

  $ 2,168     $ 2,189  

Tax exempt income

    (308

)

    (221

)

Cash surrender value income

    (82

)

    (58

)

Affordable housing tax credit

    (118

)

    (66 )

Tax credit

    (16 )     (16 )

Other non-deductible expenses

    13       17  

Total income tax expense

  $ 1,657     $ 1,845  

Effective tax rate

    16.0 %     17.7 %