v3.26.1
Note 7 - Short-term Borrowings
 12 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Debt Disclosure [Text Block]

NOTE 7—SHORT-TERM BORROWINGS

 

As of June 30, 2026 and 2025, short-term borrowings consisted of federal funds purchased, repurchase agreements, and an unsecured line of credit. Information concerning all short-term borrowings maturing in less than one year is summarized as follows:

 

   

2026

    

2025

  

Balance at June 30

   $ 29,210     $ 15,511  

Average balance during the year

     19,474       20,296  

Maximum month-end balance

     29,210       27,907  

Average interest rate during the year

     1.88

%

     2.28

%

Weighted average rate, June 30

     2.64

%

     1.63

%

 

The Company has an unsecured $5,000 line of credit to provide capital support to the holding company that had an outstanding balance of $225 as of June 30, 2026. Repurchase agreements are financing arrangements that mature daily and are used to facilitate the needs of our customers. Physical control of all the securities is maintained for all securities pledged to secure repurchase agreements. Available-for-sale securities pledged for repurchase agreements as of June 30, 2026 and 2025 are presented in the following table:

 

   

Overnight and Continuous

  
   

2026

    

2025

  

U.S. government-sponsored entities and agencies

   $ 3,603     $ 4,035  

Mortgage-backed securities – residential

     11,709       13,455  

Mortgage-backed securities – commercial

     3,569       6,721  

Collateralized mortgage obligations – residential

     2,977       —  

Total pledged

   $ 21,858     $ 24,211  

Repurchase agreements

   $ 18,480     $ 15,511  

 

Total interest expense on short-term borrowings was $366 and $462 for the years ended June 30, 2026 and 2025, respectively.