| Parent Company Condensed Financial Statements |
15. Parent Company Condensed Financial Statements Financial information as of June 30, 2025 and 2024 and for the years then ended pertaining to CFSB Bancorp, Inc. is as follows: BALANCE SHEETS
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June 30, |
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2025 |
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2024 |
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Assets: |
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Cash and due from banks |
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$ |
8,463 |
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$ |
9,355 |
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Investment in Colonial Federal Savings Bank |
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64,475 |
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63,800 |
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Due from Colonial Federal Savings Bank |
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208 |
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170 |
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Accrued interest receivable on ESOP loan |
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38 |
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39 |
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Deferred tax assets |
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94 |
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141 |
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ESOP loan |
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2,344 |
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2,416 |
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Other assets |
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169 |
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165 |
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Total assets |
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$ |
75,791 |
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$ |
76,086 |
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Liabilities and Stockholders' Equity: |
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Liabilities |
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Other liabilities |
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$ |
61 |
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$ |
35 |
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Total liabilities |
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61 |
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35 |
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Stockholders' Equity |
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Common stock |
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$ |
65 |
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$ |
65 |
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Additional paid-in capital |
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28,476 |
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28,139 |
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Retained earnings |
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49,961 |
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50,226 |
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Treasury stock |
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(573 |
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(78 |
) |
Accumulated other comprehensive loss |
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- |
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- |
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ESOP-Unearned compensation |
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(2,199 |
) |
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(2,301 |
) |
Total stockholders' equity |
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75,730 |
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76,051 |
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Total liabilities and stockholders' equity |
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$ |
75,791 |
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$ |
76,086 |
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STATEMENTS OF OPERATIONS
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For the Year Ended |
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June 30, |
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June 30, |
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2025 |
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2024 |
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Interest income |
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$ |
79 |
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$ |
80 |
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Operating expenses |
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678 |
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284 |
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Loss before income taxes and equity in undistributed net income in Colonial Federal Savings Bank |
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(599 |
) |
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(204 |
) |
Applicable income tax expense (benefit) |
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(18 |
) |
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31 |
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Loss before equity in undistributed net income of Colonial Federal Savings Bank |
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(581 |
) |
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(235 |
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Equity in undistributed net income of Colonial Federal Savings Bank |
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316 |
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268 |
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Net (loss) income |
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$ |
(265 |
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$ |
33 |
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STATEMENTS OF CASH FLOWS
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For the Year Ended June 30, |
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2025 |
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2024 |
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Cash flows from operating activities: |
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Net (loss) income |
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$ |
(265 |
) |
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$ |
33 |
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Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
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Equity in undistributed net income of Colonial Federal Savings Bank |
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(316 |
) |
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(268 |
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Decrease in due from Colonial Federal Savings Bank |
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38 |
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444 |
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(Increase) Decrease in accrued interest receivable |
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(1 |
) |
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1 |
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Other, net |
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75 |
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(398 |
) |
Net cash used in operating activities |
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(469 |
) |
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(188 |
) |
Cash flows from investing activities: |
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Principal payments received on ESOP loan |
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72 |
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70 |
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Net cash provided by investing activities |
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72 |
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70 |
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Cash flows from financing activities: |
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Purchase of treasury stock |
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(495 |
) |
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(78 |
) |
Net cash used in financing activities |
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(495 |
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(78 |
) |
Net change in cash and cash equivalents |
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(892 |
) |
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(196 |
) |
Cash and cash equivalents at beginning of period |
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9,355 |
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9,551 |
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Cash and cash equivalents at end of period |
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$ |
8,463 |
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$ |
9,355 |
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