Loans and Allowance for Credit Losses (Tables)

12 Months Ended

Jun. 30, 2025

Classes of loans at June 30, include:


	2025			2024
Real estate loans
One- to four-family	$	178,979		$	177,263
Multi-family		126,127			126,031
Commercial		201,550			200,017
Home equity lines of credit		10,487			9,859
Construction		22,927			33,708
Commercial Business		93,961			91,784
Consumer		5,855			7,727

		639,886			646,389
Less
Unearned fees and discounts, net		(344	)		(407	)
Allowance for credit losses		6,627			7,499

Loans, net	$	633,603		$	639,297

Allowance for Credit Losses

The following tables present the activity in the allowance for credit losses and the recorded investment in loans based on loan classes as of June 30, 2025 and 2024:


	2025
	Real Estate Loans
	One- to four- family			Multi-family			Commercial			Home Equity Lines of Credit
Allowance for credit losses:
Balance, beginning of year	$	1,774		$	1,764		$	2,358		$	148
Provision (credit) charged to expense		(222	)		(121	)		(106	)		(4	)
Losses charged off		(79	)		(350	)		—			—
Recoveries		2			220			—			—

Balance, end of period	$	1,475		$	1,513		$	2,252		$	144

Loans:
Ending balance	$	178,979		$	126,127		$	201,550		$	10,487


	2025 (Continued)
	Construction			Commercial Business			Consumer			Total
Allowance for credit losses:
Balance, beginning of year	$	337		$	1,053		$	65		$	7,499
Provision (credit) charged to expense		(131	)		(131	)		37			(678	)
Losses charged off		—			(50	)		(70	)		(549	)
Recoveries		—			113			20			355

Balance, end of year	$	206		$	985		$	52		$	6,627

Loans:
Ending balance	$	22,927		$	93,961		$	5,855		$	639,886


	2024
	Real Estate Loans
	One- to four-family			Multi-family		Commercial			Home Equity Lines of Credit
Allowance for credit losses:
Balance, beginning of year	$	1,898		$	1,121	$	2,369		$	121
Provision (credit) charged to expense		(127	)		643		(11	)		27
Losses charged off		—			—		—			—
Recoveries		3			—		—			—

Balance, end of period	$	1,774		$	1,764	$	2,358		$	148

Loans:
Ending balance	$	177,263		$	126,031	$	200,017		$	9,859


	2024 (Continued)
	Construction			Commercial Business		Consumer			Total
Allowance for credit losses:
Balance, beginning of year	$	765		$	794	$	71		$	7,139
Provision (credit) charged to expense		(428	)		17		29			150
Losses charged off		—			—		(49	)		(49	)
Recoveries		—			242		14			259

Balance, end of year	$	337		$	1,053	$	65		$	7,499

Loans:
Ending balance	$	33,708		$	91,784	$	7,727		$	646,389

Credit Risk Profile of Association's Loan Portfolio Based on Risk Rating Category and Calendar Year of Origination

The following tables present the credit risk profile of the Company’s loan portfolio based on risk rating category and calendar year of origination as of June 30, 2025 and 2024 (in thousands):


June 30, 2025 Risk Rating	2025		2024			2023		2022		2021		Prior Years			Total
One- to Four-Family
Pass	$	16,760	$	23,826		$	32,946	$	45,173	$	19,879	$	40,102		$	178,686
Watch		—		—			—		—		51		40			91
Substandard		—		—			—		3		5		194			202

Total	$	16,760	$	23,826		$	32,946	$	45,176	$	19,935	$	40,336		$	178,979

Current period charge-offs	$	—	$	—		$	—	$	—	$	—	$	(79	)	$	(79	)
Current period recoveries	$	—	$	—		$	—	$	—	$	—	$	2		$	2
Multi-Family
Pass	$	4,517	$	15,648		$	10,379	$	39,148	$	19,827	$	36,383		$	125,902
Watch		—		—			—		—		—		—			—
Substandard		—		—			—		—		—		225			225

Total	$	4,517	$	15,648		$	10,379	$	39,148	$	19,827	$	36,608		$	126,127

Current period charge-offs	$	—	$	(350	)	$	—	$	—	$	—	$	—		$	(350	)
Current period recoveries	$	—	$	220		$	—	$	—	$	—	$	—		$	220
Commercial Real Estate
Pass	$	9,649	$	14,724		$	26,490	$	50,471	$	28,946	$	69,788		$	200,068
Watch		—		—			—		—		135		—			135
Substandard		—		—			—		—		846		501			1,347

Total	$	9,649	$	14,724		$	26,490	$	50,471	$	29,927	$	70,289		$	201,550

Home Equity Line of Credit
Pass	$	1,004	$	2,884		$	1,851	$	1,616	$	1,230	$	1,902		$	10,487
Watch		—		—			—		—		—		—			—
Substandard		—		—			—		—		—		—			—

Total	$	1,004	$	2,884		$	1,851	$	1,616	$	1,230	$	1,902		$	10,487

Construction
Pass	$	2,165	$	8,574		$	12,062	$	123	$	—	$	3		$	22,927
Watch		—		—			—		—		—		—			—
Substandard		—		—			—		—		—		—			—

Total	$	2,165	$	8,574		$	12,062	$	123	$	—	$	3		$	22,927


Commercial Business
Pass	$	10,266		$	23,374		$	31,068	$	4,070		$	5,209	$	14,493	$	88,480
Watch		—			—			—		—			—		—		—
Substandard		—			—			3,355		3			197		1,926		5,481

Total	$	10,266		$	23,374		$	34,423	$	4,073		$	5,406	$	16,419	$	93,961

Current period charge-offs	$	—		$	(50	)	$	—	$	—		$	—	$	—	$	(50	)
Current period recoveries	$	—		$	50		$	—	$	—		$	—	$	63	$	113
Consumer
Pass	$	1,489		$	1,583		$	1,430	$	883		$	304	$	149	$	5,838
Watch		—			—			—		—			—		—		—
Substandard		—			—			17		—			—		—		17

Total	$	1,489		$	1,583		$	1,447	$	883		$	304	$	149	$	5,855

Current period charge-offs	$	(28	)	$	(41	)	$	—	$	(1	)	$	—	$	—	$	(70	)
Current period recoveries	$	7		$	13		$	—	$	—		$	—	$	—	$	20
Total Loans
Pass	$	45,850		$	90,613		$	116,226	$	141,484		$	75,395	$	162,820	$	632,388
Watch		—			—			—		—			186		40		226
Substandard		—			—			3,372		6			1,048		2,846		7,272

Total	$	45,850		$	90,613		$	119,598	$	141,490		$	76,629	$	165,706	$	639,886


June 30, 2024 Risk Rating	2024			2023			2022		2021			2020		Prior Years		Total
One- to Four-Family
Pass	$	14,790		$	39,202		$	51,262	$	24,362		$	15,455	$	31,926	$	176,997
Watch		—			—			—		72			—		—		72
Substandard		—			14			5		5			—		170		194

Total	$	14,790		$	39,216		$	51,267	$	24,439		$	15,455	$	32,096	$	177,263

Current period recoveries	$	—		$	—		$	—	$	—		$	—	$	3	$	3
Multi-Family
Pass	$	573		$	9,004		$	51,279	$	20,346		$	22,728	$	21,867	$	125,797
Watch		—			—			—		—			—		—		—
Substandard		—			—			—		—			—		234		234

Total	$	573		$	9,004		$	51,279	$	20,346		$	22,728	$	22,101	$	126,031

Commercial Real Estate
Pass	$	4,602		$	29,665		$	57,530	$	27,622		$	30,489	$	48,886	$	198,794
Watch		—			—			—		—			—		—		—
Substandard		—			—			—		150			821		252		1,223

Total	$	4,602		$	29,665		$	57,530	$	27,772		$	31,310	$	49,138	$	200,017

Home Equity Line of Credit
Pass	$	1,629		$	2,361		$	1,874	$	1,806		$	795	$	1,394	$	9,859
Watch		—			—			—		—			—		—		—
Substandard		—			—			—		—			—		—		—

Total	$	1,629		$	2,361		$	1,874	$	1,806		$	795	$	1,394	$	9,859


Construction
Pass	$	9,123		$	21,043	$	3,250	$	—		$	—	$	292	$	33,708
Watch		—			—		—		—			—		—		—
Substandard		—			—		—		—			—		—		—

Total	$	9,123		$	21,043	$	3,250	$	—		$	—	$	292	$	33,708

Commercial Business
Pass	$	10,357		$	38,853	$	10,158	$	9,898		$	8,201	$	12,803	$	90,270
Watch		—			—		—		—			—		—		—
Substandard		—			133		47		190			1,088		56		1,514

Total	$	10,357		$	38,986	$	10,205	$	10,088		$	9,289	$	12,859	$	91,784

Current period recoveries	$	—		$	—	$	—	$	—		$	242	$	—	$	242
Consumer
Pass	$	1,956		$	2,635	$	1,830	$	843		$	394	$	69	$	7,727
Watch		—			—		—		—			—		—		—
Substandard		—			—		—		—			—		—		—

Total	$	1,956		$	2,635	$	1,830	$	843		$	394	$	69	$	7,727

Current period charge-offs	$	(48	)	$	—	$	—	$	(1	)	$	—	$	—	$	(49	)
Current period recoveries	$	14		$	—	$	—	$	—		$	—	$	—	$	14
Total Loans
Pass	$	43,030		$	142,763	$	177,183	$	84,877		$	78,062	$	117,237	$	643,152
Watch		—			—		—		72			—		—		72
Substandard		—			147		52		345			1,909		712		3,165

Total	$	43,030		$	142,910	$	177,235	$	85,294		$	79,971	$	117,949	$	646,389

Association's Loan Portfolio Aging Analysis

The following tables present the Company’s loan portfolio aging analysis:


	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater		Total Past Due		Current		Total Loans Receivable		Total Loans 90 Days Past Due & Accruing
June 30, 2025:
Real estate loans:
One- to four-family	$	866	$	307	$	29	$	1,202	$	177,777	$	178,979	$	29
Multi-family		25		—		—		25		126,102		126,127		—
Commercial		1,049		249		—		1,298		200,252		201,550		—
Home equity lines of credit		—		—		—		—		10,487		10,487		—
Construction		—		—		—		—		22,927		22,927		—
Commercial Business		256		300		—		556		93,405		93,961		—
Consumer		56		—		17		73		5,782		5,855		—

Total	$	2,252	$	856	$	46	$	3,154	$	636,732	$	639,886	$	29


	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater		Total Past Due		Current		Total Loans Receivable		Total Loans 90 Days Past Due & Accruing
June 30, 2024:
Real estate loans:
One- to four-family	$	1,009	$	192	$	—	$	1,201	$	176,062	$	177,263	$	—
Multi-family		141		—		—		141		125,890		126,031		—
Commercial		—		—		150		150		199,867		200,017		—
Home equity lines of credit		17		25		—		42		9,817		9,859		—
Construction		237		—		—		237		33,471		33,708		—
Commercial Business		21		20		—		41		91,743		91,784		—
Consumer		27		1		23		51		7,676		7,727		23

Total	$	1,452	$	238	$	173	$	1,863	$	644,526	$	646,389	$	23

Nonaccrual with no Allowance for Credit Losses and Nonaccrual Loans

The following table presents the amortized cost basis of loans on nonaccrual status and of nonaccrual loans individually evaluated for which no allowance was recorded as of June 30, 2025 and 2024:


	June 30, 2025				June 30, 2024
	Nonaccrual with no Allowance for Credit Losses		Nonaccrual		Nonaccrual with no Allowance for Credit Losses		Nonaccrual
Mortgages on real estate:
One- to four-family	$	—	$	—	$	—	$	—
Multi-family		—		—		—		—
Commercial		—		—		—		150
Home equity lines of credit		—		—		—		—
Construction loans		—		—		—		—
Commercial business loans		—		—		—		—
Consumer loans		—		17		—		—

Total	$	—	$	17	$	—	$	150

Amortized Costs of Loans Modified As On the Reporting Date and the Percentage of Amortized Cost of Loans Modified To Total Borrowers

The following table shows the amortized cost of loans at June 30, 2024 that were modified and experiencing financial difficulty, segregated by portfolio segment and type of modification. The percentage of the amortized cost of loans that were modified to borrowers in financial distress as compared to outstanding loans is also presented below.


	Payment Delay		Total Class of Financing Receivable
Real estate loans
One- to four-family	$	—		—
Multi-family		—		—
Commercial		252		0.13	%
Home equity lines of credit		—		—
Construction		—		—
Commercial business		133		0.15	%
Consumer		—		—

Total	$	385		0.06	%