| Schedule of Financial Assets Measured at Fair Value on a Recurring Basis |
Financial assets measured at fair value on a recurring
basis are summarized below:
| | |
Fair
Value Measurements Using | |
| (in
thousands) | |
Fair Value | | |
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1) | | |
Significant
Other
Observable
Inputs
(Level 2) | | |
Significant
Unobservable
Inputs
(Level 3) | |
| March 31, 2026 | |
| | |
| | |
| | |
| |
| Agency
mortgage-backed: residential | |
$ | 10,265 | | |
$ | – | | |
$ | 10,265 | | |
$ | – | |
| | |
| | | |
| | | |
| | | |
| | |
| June
30, 2025 | |
| | | |
| | | |
| | | |
| | |
| Agency
mortgage-backed: residential | |
$ | 9,757 | | |
$ | – | | |
$ | 9,757 | | |
$ | – | |
|
| Schedule of Carrying Value and Fair Value of the Company’s Financial Instruments |
Based on the foregoing methods and assumptions,
the carrying value and fair value of the Company’s financial instruments at March 31, 2026 and June 30, 2025 are as follows:
| |
|
|
|
|
Fair Value Measurements at |
|
| |
|
Carrying |
|
|
March 31, 2026 Using |
|
| (in thousands) |
|
Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Financial assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
21,296 |
|
|
$ |
21,296 |
|
|
|
|
|
|
|
|
|
|
$ |
21,296 |
|
| Available-for-sale securities |
|
|
10,265 |
|
|
|
|
|
|
$ |
10,265 |
|
|
|
|
|
|
|
10,265 |
|
| Held-to-maturity securities |
|
|
143 |
|
|
|
|
|
|
|
141 |
|
|
|
|
|
|
|
141 |
|
| Loans receivable – net |
|
|
328,223 |
|
|
|
|
|
|
|
|
|
|
$ |
331,563 |
|
|
|
331,563 |
|
| Federal Home Loan Bank stock |
|
|
3,804 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
n/a |
|
| Accrued interest receivable |
|
|
1,593 |
|
|
|
|
|
|
|
1,593 |
|
|
|
|
|
|
|
1,593 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Financial liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Deposits |
|
$ |
273,689 |
|
|
$ |
76,428 |
|
|
$ |
197,343 |
|
|
|
|
|
|
|
273,771 |
|
| Federal Home Loan Bank advances |
|
|
48,937 |
|
|
|
|
|
|
|
49,094 |
|
|
|
|
|
|
|
49,094 |
|
| Advances by borrowers for taxes and insurance |
|
|
593 |
|
|
|
|
|
|
|
593 |
|
|
|
|
|
|
|
593 |
|
| Accrued interest payable |
|
|
709 |
|
|
|
|
|
|
|
709 |
|
|
|
|
|
|
|
709 |
|
| | |
| | |
Fair Value Measurements at | |
| | |
Carrying | | |
June 30, 2025 Using | |
| (in thousands) | |
Value | | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| Financial assets | |
| | |
| | |
| | |
| | |
| |
| Cash and cash equivalents | |
$ | 19,480 | | |
$ | 19,480 | | |
| | | |
| | | |
$ | 19,480 | |
| Available-for-sale securities | |
| 9,757 | | |
| | | |
$ | 9,757 | | |
| | | |
| 9,757 | |
| Held-to-maturity securities | |
| 171 | | |
| | | |
| 167 | | |
| | | |
| 167 | |
| Loans receivable - net | |
| 327,248 | | |
| | | |
| | | |
$ | 319,432 | | |
| 319,432 | |
| Federal Home Loan Bank stock | |
| 3,980 | | |
| | | |
| | | |
| | | |
| n/a | |
| Accrued interest receivable | |
| 1,438 | | |
| | | |
| 1,438 | | |
| | | |
| 1,438 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Financial liabilities | |
| | | |
| | | |
| | | |
| | | |
| | |
| Deposits | |
$ | 277,563 | | |
$ | 77,988 | | |
$ | 199,603 | | |
| | | |
$ | 277,591 | |
| Federal Home Loan Bank advances | |
| 42,760 | | |
| | | |
| 42,837 | | |
| | | |
| 42,837 | |
| Advances by borrowers for taxes and insurance | |
| 869 | | |
| | | |
| 869 | | |
| | | |
| 869 | |
| Accrued interest payable | |
| 949 | | |
| | | |
| 949 | | |
| | | |
| 949 | |
|