v3.25.2
Parent Company Condensed Financial Statements (Tables)
 12 Months Ended
Jun. 30, 2025
Text Block [Abstract]  
BALANCE SHEETS

BALANCE SHEETS

 

 

June 30,

 

 

 

2025

 

 

2024

 

Assets:

 

 

 

 

 

 

Cash and due from banks

 

$

8,463

 

 

$

9,355

 

Investment in Colonial Federal Savings Bank

 

 

64,475

 

 

 

63,800

 

Due from Colonial Federal Savings Bank

 

 

208

 

 

 

170

 

Accrued interest receivable on ESOP loan

 

 

38

 

 

 

39

 

Deferred tax assets

 

 

94

 

 

 

141

 

ESOP loan

 

 

2,344

 

 

 

2,416

 

Other assets

 

 

169

 

 

 

165

 

Total assets

 

$

75,791

 

 

$

76,086

 

 

 

 

 

 

 

 

Liabilities and Stockholders' Equity:

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

Other liabilities

 

$

61

 

 

$

35

 

Total liabilities

 

 

61

 

 

 

35

 

Stockholders' Equity

 

 

 

 

 

 

Common stock

 

$

65

 

 

$

65

 

Additional paid-in capital

 

 

28,476

 

 

 

28,139

 

Retained earnings

 

 

49,961

 

 

 

50,226

 

Treasury stock

 

 

(573

)

 

 

(78

)

Accumulated other comprehensive loss

 

 

-

 

 

 

-

 

ESOP-Unearned compensation

 

 

(2,199

)

 

 

(2,301

)

Total stockholders' equity

 

 

75,730

 

 

 

76,051

 

Total liabilities and stockholders' equity

 

$

75,791

 

 

$

76,086

 
STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS

 

 

For the Year Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2025

 

 

2024

 

Interest income

 

$

79

 

 

$

80

 

Operating expenses

 

 

678

 

 

 

284

 

Loss before income taxes and equity in undistributed net income in Colonial Federal Savings Bank

 

 

(599

)

 

 

(204

)

Applicable income tax expense (benefit)

 

 

(18

)

 

 

31

 

Loss before equity in undistributed net income of Colonial Federal Savings Bank

 

 

(581

)

 

 

(235

)

Equity in undistributed net income of Colonial Federal Savings Bank

 

 

316

 

 

 

268

 

Net (loss) income

 

$

(265

)

 

$

33

 
STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS

 

 

For the Year Ended June 30,

 

 

 

2025

 

 

2024

 

Cash flows from operating activities:

 

 

 

 

 

 

Net (loss) income

 

$

(265

)

 

$

33

 

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

 

 

 

 

 

 

Equity in undistributed net income of Colonial Federal Savings Bank

 

 

(316

)

 

 

(268

)

Decrease in due from Colonial Federal Savings Bank

 

 

38

 

 

 

444

 

(Increase) Decrease in accrued interest receivable

 

 

(1

)

 

 

1

 

Other, net

 

 

75

 

 

 

(398

)

Net cash used in operating activities

 

 

(469

)

 

 

(188

)

Cash flows from investing activities:

 

 

 

 

 

 

Principal payments received on ESOP loan

 

 

72

 

 

 

70

 

Net cash provided by investing activities

 

 

72

 

 

 

70

 

Cash flows from financing activities:

 

 

 

 

 

 

Purchase of treasury stock

 

 

(495

)

 

 

(78

)

Net cash used in financing activities

 

 

(495

)

 

 

(78

)

Net change in cash and cash equivalents

 

 

(892

)

 

 

(196

)

Cash and cash equivalents at beginning of period

 

 

9,355

 

 

 

9,551

 

Cash and cash equivalents at end of period

 

$

8,463

 

 

$

9,355