v3.26.1
Income Taxes (Tables)
12 Months Ended
Jun. 30, 2026
Income Taxes  
Schedule of Provision for Income Taxes

Year Ended June 30, 

(In Thousands)

  ​ ​ ​

2026

  ​ ​ ​

2025

Current:

 

  ​

 

  ​

Federal

$

1,703

$

709

State

 

937

 

479

 

2,640

 

1,188

Deferred:

 

  ​

 

  ​

Federal

 

185

 

948

State

 

156

 

482

 

341

 

1,430

Provision for income taxes

$

2,981

$

2,618

Schedule of estimated combined federal and state statutory tax rates

Year Ended June 30, 

2026

2025

(In Thousands)

  ​ ​ ​

Amount

  ​ ​ ​

Tax Rate

  ​ ​ ​

Amount

  ​ ​ ​

Tax Rate

  ​ ​ ​

Federal income tax at statutory rate

$

2,023

 

21.00

%  

$

1,863

 

21.00

%  

State income tax, net of federal income tax benefit

 

790

 

8.20

%  

 

759

 

8.55

%  

Changes in taxes resulting from:

 

  ​

 

 

  ​

 

Bank-owned life insurance

 

(39)

 

(0.40)

%  

 

(39)

 

(0.44)

%  

Non-deductible expenses

 

9

 

0.10

%  

 

28

 

0.31

%  

Non-deductible stock-based compensation

 

5

 

0.05

%  

 

2

 

0.02

%  

Shortfall on stock-based compensation

 

200

 

2.07

%  

 

1

 

0.02

%  

Return to provision adjustment

(9)

(0.10)

%  

2

0.03

%  

Other

 

2

 

0.02

%  

 

2

 

0.02

%  

Effective income tax

$

2,981

 

30.94

%  

$

2,618

 

29.51

%  

Schedule of cash paid for income taxes

Year Ended June 30, 

2026

2025

(In Thousands)

  ​ ​ ​

Amount

  ​ ​ ​

Amount

  ​ ​ ​

Federal

$

1,375

 

$

1,185

 

State and local jurisdictions:

 

  ​

 

 

  ​

 

California

 

750

 

 

731

 

Net cash paid for income taxes

$

2,125

 

$

1,916

 

Schedule of Deferred Tax Assets and Liabilities

June 30, 

(In Thousands)

  ​ ​ ​

2026

  ​ ​ ​

2025

Deferred taxes - federal

$

(734)

$

(551)

Deferred taxes - state

 

(437)

 

(281)

Total deferred tax liabilities

$

(1,171)

$

(832)

June 30, 

(In Thousands)

  ​ ​ ​

2026

  ​ ​ ​

2025

Loss reserves

$

1,983

$

2,163

Non-accrued interest

 

114

 

146

Deferred compensation

 

1,580

 

1,520

Accrued vacation

 

192

 

197

Depreciation

 

208

 

239

State tax

 

280

 

179

Lease liability

670

536

Other

 

196

 

258

Total deferred tax assets

 

5,223

 

5,238

FHLB - San Francisco stock dividends

 

(645)

 

(645)

Prepaid expenses

 

(54)

 

(66)

Unrealized gain on investment securities

 

(4)

 

(6)

Unrealized gain on interest-only strips

 

(1)

 

(2)

Gain on other equity investments

(331)

(232)

Right-of-use asset

(665)

(526)

Deferred loan costs, net

 

(4,694)

 

(4,593)

Total deferred tax liabilities

 

(6,394)

 

(6,070)

Net deferred tax liabilities

$

(1,171)

$

(832)