Disclosures about Fair Value of Assets (Tables)

12 Months Ended

Jun. 30, 2025

Fair Value Measurements of Assets Recognized on Recurring Basis

The following table presents the fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2025 and 2024:


			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 30, 2025:
Available-for-sale securities:
US Government and federal agency	$	1,812	$	—	$	1,812	$	—
Mortgage-backed securities – GSE residential		171,079		—		171,079		—
Small Business Administration		13,114		—		13,114		—
State and political subdivisions		1,748		—		—		1,748
Mortgage servicing rights		1,429		—		—		1,429


			Fair Value Measurements Using
	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 30, 2024:
Available-for-sale securities:
US Treasury	$	444	$	444	$	—	$	—
US Government and federal agency		6,609		—		6,609		—
Mortgage-backed securities – GSE residential		166,236		—		166,236		—
Small Business Administration		14,086		—		14,086		—
State and political subdivisions		3,100		—		1,043		2,057
Mortgage servicing rights		1,491		—		—		1,491

Reconciliation of Beginning and Ending Balances of Recurring Fair Value Measurements Recognized in Accompanying Balance Sheet

The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying balance sheet using significant unobservable (Level 3) inputs:

June 30, 2025


	State and Political Subdivisions			Mortgage Servicing Rights			Total
Beginning balance	$	2,057		$	1,491		$	3,548
Transfers into Level 3		—			130			130
Transfers out of Level 3		—			(122	)		(122	)
Total realized and unrealized gains and losses included in net income		—			(70	)		(70	)
Purchases		—			—			—
Sales		—			—			—
Settlements		(309	)		—			(309	)

Ending balance	$	1,748		$	1,429		$	3,177

Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date	$	—		$	(70	)	$	(70	)

June 30, 2024


	State and Political Subdivisions			Mortgage Servicing Rights			Total
Beginning balance	$	2,361		$	1,482		$	3,843
Transfers into Level 3		—			151			151
Transfers out of Level 3		—			(143	)		(143	)
Total realized and unrealized gains and losses included in net income		—			1			1
Purchases		—			—			—
Sales		—			—			—
Settlements		(304	)		—			(304	)

Ending balance	$	2,057		$	1,491		$	3,548

Total gains or losses for the period included in net income attributable to the change in unrealized gains or losses related to assets and liabilities still held at the reporting date	$	—		$	1		$	1

Quantitative Information about Unobservable Inputs Used in Recurring and Nonrecurring Level 3 Fair Value Measurements

The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements.


	Fair Value at June 30, 2025		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Mortgage servicing rights	$	1,429	Discounted cash flow	Discount rate	9.5% (9.5%)
				Constant prepayment rate	4.9% - 9.8% (9.2%)
				Probability of default	0.07% - 0.12% (0.12%)
State and political subdivision	$	1,748	Discounted cash flow	Maturity/Call Date	1 month – 6 years
				Weighted average coupon	2.97% - 3.08% (3.04%)
				Marketability yield adjustment	1.0% - 2.0% (1.6%)


	Fair Value at June 30, 2024		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
Mortgage servicing rights	$	1,491	Discounted cash flow	Discount rate	10.0% (10.0%)
				Constant prepayment rate	6.2% - 8.0% (7.7%)
				Probability of default	0.08% - 0.12% (0.11%)
State and political subdivision	$	2,057	Discounted cash flow	Maturity/Call Date	1 month – 7 years
				Weighted average coupon	2.97% - 3.08% (3.03%)
				Marketability yield adjustment	1.0% - 2.0% (1.6%)

Estimated Fair Values of Financial Instruments and Level within Fair Value Hierarchy in which Fair Value Measurements Fall

The following table presents estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2025 and 2024.


	Carrying Amount		Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 30, 2025:
Financial assets
Cash and cash equivalents	$	20,092	$	20,092	$	—	$	—
Interest-bearing time deposits in banks		250		250		—		—
Loans, net of allowance for credit losses		633,603		—		—		610,986
Federal Home Loan Bank stock		5,174		—		5,174		—
Accrued interest receivable		3,545		—		3,545		—
Financial liabilities
Deposits		721,258		—		408,173		312,719
Repurchase agreements		18,795		—		18,795		—
Federal Home Loan Bank advances		54,124		—		52,892		—
Advances from borrowers for taxes and insurance		972		—		972		—
Accrued interest payable		1,861		—		1,861		—
Unrecognized financial instruments (net of contract amount)
Commitments to originate loans		—		—		—		—


	Carrying Amount		Fair Value Measurements Using Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 30, 2024:
Financial assets
Cash and cash equivalents	$	9,571	$	9,571	$	—	$	—
Interest-bearing time deposits in banks		250		250		—		—
Loans, net of allowance for credit losses		639,297		—		—		607,076
Federal Home Loan Bank stock		4,499		—		4,499		—
Accrued interest receivable		3,457		—		3,457		—
Financial liabilities
Deposits		727,177		—		407,544		318,612
Repurchase agreements		17,772		—		17,772		—
Federal Home Loan Bank advances		32,999		—		32,560		—
Other borrowings		25,250		—		25,199		—
Advances from borrowers for taxes and insurance		968		—		968		—
Accrued interest payable		3,009		—		3,009		—
Unrecognized financial instruments (net of contract amount)
Commitments to originate loans		—		—		—		—

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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