v3.26.3
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jun. 30, 2026
Summary of Significant Accounting Policies [Abstract]  
Schedule of Contributed to ESOP

The amounts contributed to the ESOP were $0 for both 2026 and 2025 and no future expense for contributions is expected.

 

    For the fiscal year ended  
    June 30,  
    2026     2025  
Allocated shares     110,660       110,660  
Shares committed to be released     -       -  
Unearned shares     -       -  
Total ESOP shares     110,660       110,660  
                 
Fair value of unearned shares at end of period   $ -     $ -  
Schedule of Earnings Per Share The factors used in the basic and diluted earnings per share computations for the fiscal years ended June 30 follow:
    For the fiscal year ended  
    June 30,  
    2026     2025  
Net income (loss) allocated to common shareholders, basic and diluted (in thousands)   $ 1,909     $ 181  
                 
EARNINGS  PER SHARE   $ 0.24     $ 0.02  
                 
Weighted average common shares outstanding, basic and diluted     8,086,715       8,086,715  
Schedule of Fair Value Measurements of Assets and Liabilities The securities represented are only those classified as available-for sale.

 

          Fair Value Measurements Using  
          Quotes Prices
in Active
Markets for
Identical
Assets		     Significant
Other
Observable
Inputs		     Significant
Unobservable
Inputs		  
(in thousands)   Fair Value     (Level 1)     (Level 2)     (Level 3)  
2026                        
Agency mortgage-backed: residential   $ 10,906     $ -     $ 10,906     $ -  
                                 
2025                                
Agency mortgage-backed: residential   $ 9,757     $ -     $ 9,757     $ -  
Schedule of Financial Instruments

The Company’s financial instruments at June 30, 2026 and 2025 are as follows:

 

          Fair Value Measurements at  
    Carrying     June 30, 2026 Using  
(in thousands)   Value     Level 1     Level 2     Level 3     Total  
Financial assets                              
Cash and cash equivalents   $ 16,485     $ 16,485                     $ 16,485  
Available-for-sale securities     10,906             $ 10,906               10,906  
Held-to-maturity securities     134               132               132  
Loans receivable - net     319,428                     $ 329,835       329,835  
Federal Home Loan Bank stock     3,892                               n/a  
Accrued interest receivable     1,648               1,648               1,648  
                                         
Financial liabilities                                        
Deposits   $ 260,832     $ 77,747     $ 183,123             $ 260,870  
Federal Home Loan Bank advances     48,592               48,530               48,530  
Advances by borrowers for taxes and insurance     974               974               974  
Accrued interest payable     666               666               666  

 

          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  
Schedule of Loans Outstanding Loans outstanding to executive officers, directors, significant shareholders and their affiliates (related parties) at June 30, 2026 and 2025 are summarized as follows:
(in thousands)   2026     2025  
Outstanding principal, beginning of year   $ 1,062     $ 979  
Changes in composition of related parties     35       -  
Principal disbursed during the year     104       327  
Principal repaid and refinanced during the year     (71 )     (244 )
Outstanding principal, end of year   $ 1,130     $ 1,062