Oconee Federal Financial (OFED) 10-Q 14 May 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2020	May 07, 2020
Document And Entity Information [Abstract]
Entity Registrant Name	Oconee Federal Financial Corp.
Entity Central Index Key	0001501078
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity File Number	001-35033
Entity Incorporation, State or Country Code	SC
Entity Reporting Status Current	Yes
Entity Interactive Data Current	Yes
Entity Small Business	true
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		5,675,281
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020

CONSOLIDATED BALANCE SHEETS (un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
ASSETS
Cash and due from banks	$ 5,114	$ 5,678
Interest-earning deposits	20,854	30,946
Fed funds sold	144	66
Total cash and cash equivalents	26,112	36,690
Securities available-for-sale	86,885	95,429
Loans	353,164	360,088
Allowance for loan losses	(1,296)	(1,297)
Net loans	351,868	358,791
Loans held for sale, at fair value	1,083
Premises and equipment, net	9,489	8,134
Real estate owned, net	295	811
Accrued interest receivable
Loans	1,055	1,137
Investments	329	447
Restricted equity securities, at cost	1,249	1,854
Bank owned life insurance	19,370	19,022
Goodwill	2,593	2,593
Core deposit intangible	233	305
Loan servicing rights	590	868
Deferred tax assets	604	1,187
Other assets	469	558
Total assets	502,224	527,826
Deposits
Noninterest - bearing	37,012	36,232
Interest - bearing	369,351	382,874
Total deposits	406,363	419,106
Federal Home Loan Bank advances	5,000	19,000
Accrued interest payable and other liabilities	1,422	1,423
Total liabilities	412,785	439,529
SHAREHOLDERS' EQUITY
Common stock, $0.01 par value, 100,000,000 shares authorized; 6,530,074 and 6,530,074 shares outstanding, respectively	65	65
Treasury stock, at par, 854,068 and 771,008 shares, respectively	(9)	(8)
Additional paid-in capital	9,192	10,986
Retained earnings	78,745	77,464
Accumulated other comprehensive income	1,903	394
Unearned ESOP shares	(457)	(604)
Total shareholders' equity	89,439	88,297
Total liabilities and shareholders' equity	$ 502,224	$ 527,826

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Mar. 31, 2020	Jun. 30, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	100,000,000	100,000,000
Common stock, outstanding	6,530,074	6,530,074
Treasury stock	854,068	771,008

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Interest and dividend income:
Loans, including fees	$ 4,174	$ 4,123	$ 12,436	$ 11,942
Securities, taxable	368	396	1,149	1,211
Securities, tax-exempt	93	173	292	587
Other interest-earning assets	84	94	422	167
Total interest income	4,719	4,786	14,299	13,907
Interest expense:
Deposits	905	837	2,991	2,058
Other borrowings	13	178	198	424
Total interest expense	918	1,015	3,189	2,482
Net interest income	3,801	3,771	11,110	11,425
Provision for loan losses		85		234
Net interest income after provision for loan losses	3,801	3,686	11,110	11,191
Noninterest income:
Service charges on deposit accounts	104	113	330	327
Income on bank owned life insurance	121	126	348	355
Mortgage servicing income	44	51	141	161
Gain on sale of mortgage loans	21	37	103	86
ATM & debit card income	82	72	255	225
Change in fair value of equity securities, net	(130)	132	(98)	90
Gain/(loss) on sale of securities, net	113	(51)	125	(50)
Gain on payoff of purchase credit impaired loans	277	42	309	64
Other	1	6	5	49
Total noninterest income	633	528	1,518	1,307
Noninterest expense:
Salaries and employee benefits	1,628	1,779	4,796	5,192
Occupancy and equipment	556	463	1,483	1,340
Data processing	230	221	667	677
ATM & debit card expense	60	50	182	155
Professional and supervisory fees	132	112	460	513
Office expense	57	46	165	149
Advertising	72	68	199	177
FDIC deposit insurance	1	32	3	95
Foreclosed assets, net	123	31	267	56
Change in loan servicing asset	191	67	278	143
Other	196	191	601	611
Total noninterest expense	3,246	3,060	9,101	9,108
Income before income taxes	1,188	1,154	3,527	3,390
Income tax expense	242	202	556	649
Net income	946	952	2,971	2,741
Other comprehensive income
Unrealized gains on securities available-for-sale	1,635	1,450	2,034	2,350
Tax effect	(341)	(289)	(426)	(469)
Reclassification adjustment for (gains)/losses realized in net income	(113)	51	(125)	50
Tax effect	23	(11)	26	(11)
Total other comprehensive income	1,204	1,201	1,509	1,920
Comprehensive income	$ 2,150	$ 2,153	$ 4,480	$ 4,661
Basic net income per share: (Note 3) (in dollars per share)	$ 0.17	$ 0.17	$ 0.52	$ 0.48
Diluted net income per share: (Note 3) (in dollars per share)	0.17	0.16	0.52	0.47
Dividends declared per share: (in dollars per share)	$ 0.10	$ 0.30	$ 0.30	$ 0.30

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands		Common Stock [Member]	Treasury Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Unearned ESOP Shares [Member]	Total
Balance at Jun. 30, 2018		$ 65	$ (7)	$ 12,000	$ 76,136	$ (2,528)	$ (801)	$ 84,865
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					2,741			2,741
Other comprehensive income						1,920		1,920
Reclassification of unrealized gain on equity					109	(109)
Purchase of shares of treasury stock	[1]		(1)	(1,427)				(1,428)
Stock-based compensation expense				106				106
Dividends	[2]			42	(1,681)			(1,639)
ESOP shares earned				175			148	323
Balance at Mar. 31, 2019		65	(8)	10,896	77,305	(717)	(653)	86,888
Balance at Dec. 31, 2018		65	(7)	11,625	76,819	(1,809)	(702)	85,991
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					952			952
Other comprehensive income						1,201		1,201
Reclassification of unrealized gain on equity					109	(109)
Purchase of shares of treasury stock	[3]		(1)	(812)				(813)
Stock-based compensation expense				40				40
Dividends					(575)			(575)
ESOP shares earned				43			49	92
Balance at Mar. 31, 2019		65	(8)	10,896	77,305	(717)	(653)	86,888
Balance at Jun. 30, 2019		65	(8)	10,986	77,464	394	(604)	88,297
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					2,971			2,971
Other comprehensive income						1,509		1,509
Purchase of shares of treasury stock	[4]		(1)	(2,036)				(2,037)
Stock-based compensation expense				59				59
Dividends	[5]			29	(1,690)			(1,661)
ESOP shares earned				154			147	301
Balance at Mar. 31, 2020		65	(9)	9,192	78,745	1,903	(457)	89,439
Balance at Dec. 31, 2019		65	(8)	10,215	78,392	699	(507)	88,856
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income					946			946
Other comprehensive income						1,204		1,204
Purchase of shares of treasury stock	[6]		(1)	(1,109)				(1,110)
Stock-based compensation expense				20				20
Dividends					(593)			(593)
ESOP shares earned				66			50	116
Balance at Mar. 31, 2020		$ 65	$ (9)	$ 9,192	$ 78,745	$ 1,903	$ (457)	$ 89,439
[1]	The weighted average cost of treasury shares purchased during the nine months ended was $26.88 per share. Treasury stock repurchases were accounted for using the par value method.
[2]	Approximately $85 of cash dividends paid on shares in the ESOP was used as an additional principal reduction on the ESOP debt, resulting in the release of approximately 7,100 additional shares. The portion of the dividend paid on allocated shares of approximately $49 and resulting release of approximately 4,500 shares, was treated as a dividend. The portion of the dividend paid on unallocated shares of approximately $36 and resulting release of approximately 2,600 shares, and was accounted for as additional compensation expense for the nine months ended March 31, 2019.
[3]	The weighted average cost of treasury shares purchased during the three months ended was $26.71 per share. Treasury stock repurchases were accounted for using the par value method.
[4]	The weighted average cost of treasury shares purchased during the six months ended was $24.52 per share. Treasury stock repurchases were accounted for using the par value method.
[5]	Approximately $79 of cash dividends paid on shares in the ESOP was used as an additional principal reduction on the ESOP debt, resulting in the release of approximately 7,300 additional shares. The portion of the dividend paid on allocated shares of approximately $50 and resulting release of approximately 4,400 shares, was treated as a dividend. The portion of the dividend paid on unallocated shares of approximately $29 and resulting release of approximately 2,800 shares, and was accounted for as additional compensation expense for the nine months ended March 31, 2020.
[6]	The weighted average cost of treasury shares purchased during the three months ended was $25.81 per share. Treasury stock repurchases were accounted for using the par value method.

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Purchase of treasury stock (in shares)	30,438	4,298	49,877	83,060
Weighted average cost of treasury shares (per share)	26.71	25.81	26.88	24.52
Principal reduction of ESOP Debt shares			$ 85	$ 79
Principal reduction of ESOP Debt shares (in shares)			7,100	7,300
Principal reduction of ESOP Debt allocated shares			$ 49	$ 50
Principal reduction of ESOP Debt allocated shares (in shares)			4,500	4,400
Dividend paid unallocated shares - additional compensation			$ 36	$ 29
Dividend paid unallocated shares - additional compensation (in shares)			2,600	2,800

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash Flows From Operating Activities
Net income	$ 2,971	$ 2,741
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses		234
Provision for real estate owned	117	18
Depreciation and amortization, net	932	879
Net accretion of purchase accounting adjustments	(50)	(159)
Deferred income tax expense/(income)	403	(46)
Net loss on sale of real estate owned	120	9
Net gain on sale of premises and equipment		(29)
Change in loan servicing asset	278	143
Net gain/(loss) on sales of securities	(125)	50
Mortgage loans originated for sale	(9,603)	(4,160)
Mortgage loans sold	8,623	4,246
Gain on sales of mortgage loans	(103)	(86)
Change in fair value of equity securities	98	(90)
Increase in cash surrender value of bank owned life insurance	(348)	(355)
Gain on payoff of purchased credit impaired loans	(309)	(64)
ESOP compensation expense	301	323
Stock based compensation expense	59	106
Net change in operating assets and liabilities:
Accrued interest receivable and other assets	289	72
Accrued interest payable and other liabilities	(1)	622
Net cash provided by operating activities	3,652	4,455
Cash Flows From Investing Activities
Purchases of premises and equipment	(1,798)	(1,145)
Disposal of premises and equipment		29
Purchases of securities available-for-sale	(21,627)	(4,184)
Proceeds from maturities, paydowns and calls of securities available-for-sale	16,708	8,546
Proceeds from sales of securities available-for-sale	14,762	12,228
Purchases of restricted equity securities	(213)	(366)
Sales of restricted equity securities	818	151
Proceeds from sale of real estate owned	279	541
Loan originations and repayments, net	7,282	(32,720)
Net cash provided/(used) in investing activities	16,211	(16,920)
Net cash (used)/provided by financing activities
Net change in deposits	(12,743)	16,417
Proceeds from notes payable to FHLB	5,000	54,100
Repayment of notes payable to FHLB	(19,000)	(49,600)
Dividends paid	(1,661)	(1,639)
Purchase of treasury stock	(2,037)	(1,428)
Net cash provided/(used) by financing activities	(30,441)	17,850
Change in cash and cash equivalents	(10,578)	5,385
Cash and cash equivalents, beginning of period	36,690	9,910
Cash and cash equivalents, end of period	$ 26,112	$ 15,295

BASIS OF PRESENTATION, RISKS AN

BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES	9 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES	(1) BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES Basis of Presentation: The accompanying unaudited consolidated financial statements of Oconee Federal Financial Corp., which include the accounts of its wholly owned subsidiary Oconee Federal Savings and Loan Association (the “Association”) (referred to herein as “the Company,” “we,” “us,” or “our”), have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Intercompany accounts and transactions are eliminated during consolidation. The Company is majority owned (73.37%) by Oconee Federal, MHC. These financial statements do not include the transactions and balances of Oconee Federal, MHC. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to present fairly the Company’s financial position as of March 31, 2020 and June 30, 2019 and the results of operations and cash flows for the interim periods ended March 31, 2020 and 2019. All interim amounts have not been audited, and the results of operations for the interim periods herein are not necessarily indicative of the results of operations to be expected for the year ending June 30, 2020 or any other period. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2019. Reclassifications: Certain amounts have been reclassified to conform to the current period presentation. The reclassifications had no effect on net income or shareholders’ equity as previously reported. Cash Flows: Cash and cash equivalents include cash on hand, federal funds sold, overnight interest-earning deposits and amounts due from other depository institutions. Use of Estimates: To prepare financial statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the consolidated financial statements and the disclosures provided, and actual results could differ. Risks and Uncertainties: On March 10, 2020, the World Health Organization declared the outbreak of novel coronavirus (“COVID-19”) a pandemic, which continues to spread throughout the world and has adversely impacted global commercial activity and contributed to significant declines and volatility in financial markets. The COVID-19 outbreak and government responses are creating disruption in global supply chains and adversely impacting many industries. The outbreak could have a continued material adverse impact on economic and market conditions and trigger a period of global economic slowdown. The federal banking agencies have encouraged financial institutions to prudently work with affected borrowers and recently passed legislation has provided relief from reporting loan classifications due to modifications related to the COVID-19 outbreak. Certain industries have been particularly hard-hit, including the travel and hospitality industry, the restaurant industry and the retail industry. The spread of the coronavirus has caused us to modify our business practices, including employee travel, employee work locations, and cancellation of physical participation in meetings, events and conferences. We have certain employees working remotely and we may take further actions as may be required by government authorities or that we determine are in the best interests of our employees, customers and business partners. The rapid development and fluidity of this situation precludes any prediction as to the ultimate material adverse impact of the COVID-19 outbreak with regard to capital, liquidity, loan loss reserves, etc. Nevertheless, the outbreak presents uncertainty and risk with respect to the Company, its performance, and its financial results.

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	9 Months Ended
	Mar. 31, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
NEW ACCOUNTING STANDARDS	(2) NEW ACCOUNTING STANDARDS Accounting Standards Update (“ASU”) 2020-04, “Reference Rate Reform (Topic 848)”. Issued in March 2020, ASU 2020-04 provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The amendments are effective as of March 12, 2020 through December 31, 2022. The Company does not expect these amendments to have a material effect on its financial statements. ASU 2020-03, “Codification Improvements to Financial Instruments”. Issued in March 2020, ASU 2020-03 provides guidance that makes narrow-scope improvements to various aspects of the financial instrument guidance, including the current expected credit losses (CECL) guidance issued in 2016. The amendments were effective upon issuance. The Company does not expect these amendments to have a material effect on its financial statements. ASU 2020-02, “Financial Instruments – Credit Losses (Topic 326) and Leases (Topic 842)”. Issued in February 2020, ASU 2020-02 provides guidance to add and amend SEC paragraphs in the Accounting Standards Codification to reflect the issuance of SEC Staff Accounting Bulletin No. 119 related to the new credit losses standard and comments by the SEC staff related to the revised effective date of the new leases standard. The amendments were effective upon issuance. The Company does not expect these amendments to have a material effect on its financial statements. ASU 2019-12, “Income Taxes (Topic 740)”. Issued in December 2019, ASU 2019-12 provides guidance to simplify accounting for income taxes by removing specific technical exceptions that often produce information investors have a hard time understanding. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. For the Company, the amendments are effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements. ASU 2019-11, “Codification to Improvements to Topic 326, Financial Instruments – Credit Losses”. Issued in November 2019, ASU 2019-11 provides guidance that addresses issues raised by stakeholders during the implementation of ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The amendments affect a variety of Topics in the Accounting Standards Codification. For the Company, the amendments are effective for fiscal years beginning after December 15, 2022 including interim periods within those fiscal years. Early adoption is permitted in any interim period as long as an entity has adopted the amendments in ASU 2016-13. The Company does not expect these amendments to have a material effect on its financial statements. ASU 2019-10, “Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842)”. Issued in November 2019, ASU 2019-10 provides guidance to defer the effective dates for private companies, not-for-profit organizations, and certain smaller reporting companies (such as the Company) applying standards on current expected credit losses (CECL), derivatives, hedging and leases. For the Company, the new effective date for Credit Losses (CECL) will be for fiscal years beginning after December 15, 2022 including interim periods within those fiscal years. For the Company, the effective dates for Derivatives, Hedging and Leases were not deferred under this guidance. The Company does not expect these amendments to have a material effect on its financial statements. ASU 2019-07, “Codification Updates to SEC Sections”. Issued in July 2019, ASU 2019-07 updates various Topics of the Accounting Standards Codification to align the guidance in various SEC sections of the Codification with the requirements of certain SEC final rules. The amendments were effective upon issuance and did not have a material effect on the financial statements. ASU 2019-05, “ Financial Instruments – Credit Losses (Topic 326): Targeted Transition Relief ASU 2019-04, “ Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments ASU 2019-01, Leases (Topic 842): Codification Improvements. Issued in March 2019, ASU 2019-01 aligns the guidance for fair value of the underlying asset by lessors that are not manufacturers or dealers in Accounting Standards Codification (ASC) 842, Leases Fair Value Measurement) Leases Fair Value Measurement Financial Services—Depository and Lending ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement”. Issued in August 2018, ASU 2018-13 provides guidance about fair value measurement disclosures. The amendment requires numerous removals, modifications and additions of fair value disclosure information. The amendments in this update are effective for all entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years; early adoption is permitted. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this Update and delay adoption of the additional disclosures until their effective date. The Company does not expect these amendments to have a material effect on its consolidated financial statements. ASU 2017-08, “Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities”. Issued in March 2017, ASU 2017-08 amends the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted, including adoption in an interim period. If an entity early adopts in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. The amendments were applied on a modified retrospective basis, with a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company adopted this standard on June 30, 2019 as reflected by a $245 adjustment to retained earnings. ASU 2017-04, “Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”. Issued in January 2017, ASU 2017-04 amendments eliminate Step 2 from the goodwill impairment test. The amendments also eliminate the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The guidance is effective for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. ASU 2017-04 should be adopted on a prospective basis. The Company does not believe that this new guidance will have a material effect on its consolidated financial statements. ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”. Issued in June 2016, ASU 2016-13 provides financial statement users with more decision-useful information about the expected credit losses on financial instruments that are not accounted for at fair value through net income, including loans held for investment, held-to-maturity debt securities, trade and other receivables, net investment in leases and other commitments to extend credit held by a reporting entity at each reporting date. ASU 2016-13 requires that financial assets measured at amortized cost be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The amendments in ASU 2016-13 eliminate the probable incurred loss recognition in current GAAP and reflect an entity’s current estimate of all expected credit losses. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the financial assets. For purchased financial assets with a more-than-insignificant amount of credit deterioration since origination (“PCD assets”) that are measured at amortized cost, the initial allowance for credit losses is added to the purchase price rather than being reported as a credit loss expense. Subsequent changes in the allowance for credit losses on PCD assets are recognized through the statement of income as a credit loss expense. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses rather than as a direct write-down to the security. Early adoption is permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company has determined that it will continue to prepare its credit loss allowance internally. The Company is currently evaluating the impact of ASU 2016-13 on its consolidated financial statements. On October 16, 2019, the FASB announced a delay in the implementation schedule allowing certain entities, including smaller reporting companies (such as the Company) to adopt ASU 2016-13 in fiscal years beginning after December 15, 2022, and interim periods within those years. There have been no accounting standards that have been issued or proposed by the FASB or other standards-setting bodies during this quarter that are expected to have a material impact on the Company’s financial position, results of operations or cash flows. The Company continues to evaluate the impact of standards previously issued and not yet effective, and have no changes in our assessment to disclose since filing of the Annual Report on Form 10-K.

EARNINGS PER SHARE (''EPS'')

EARNINGS PER SHARE (''EPS'')	9 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE ("EPS")	(3) EARNINGS PER SHARE (“EPS”) Basic EPS is based on the weighted average number of common shares outstanding and is adjusted for ESOP shares not yet committed to be released. Unvested restricted stock awards, which contain rights to non-forfeitable dividends, are considered participating securities and the two-class method of computing basic and diluted EPS is applied. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as outstanding stock options, were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. Diluted EPS is calculated by adjusting the weighted average number of shares of common stock outstanding to include the effect of contracts or securities exercisable (such as stock options) or which could be converted into common stock, if dilutive, using the treasury stock method. The factors used in the earnings per common share computation follow: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Earnings per share Net income $ 946 $ 952 $ 2,971 $ 2,741 Less: distributed earnings allocated to participating securities (1 ) (2 ) (3 ) (4 ) Less: (undistributed income) dividends in excess of earnings allocated to participating securities — — (2 ) (3 ) Net earnings available to common shareholders $ 945 $ 950 $ 2,966 $ 2,734 Weighted average common shares outstanding including participating securities 5,705,937 5,759,840 5,721,903 5,765,601 Less: participating securities (8,800 ) (15,355 ) (8,800 ) (15,355 ) Less: average unearned ESOP shares (51,990 ) (71,107 ) (54,778 ) (73,799 ) Weighted average common shares outstanding 5,645,147 5,673,378 5,658,325 5,676,447 Basic earnings per share $ 0.17 $ 0.17 $ 0.52 $ 0.48 Weighted average common shares outstanding 5,645,147 5,673,378 5,658,325 5,676,447 Add: dilutive effects of assumed exercises of stock options 71,002 123,144 67,598 123,526 Average shares and dilutive potential common shares 5,716,149 5,796,522 5,725,923 5,799,973 Diluted earnings per share $ 0.17 $ 0.16 $ 0.52 $ 0.47 For the three and nine months ended March 31, 2020, 11,200 shares were considered anti-dilutive as the exercise price was in excess of the average market price, and for the three and nine months ended March 31, 2019, 22,400 shares were considered anti-dilutive as the exercise price was in excess of the average market price.

SECURITIES AVAILABLE-FOR-SALE

SECURITIES AVAILABLE-FOR-SALE	9 Months Ended
	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
SECURITIES AVAILABLE-FOR-SALE	(4) SECURITIES AVAILABLE-FOR-SALE Debt, mortgage-backed and equity securities have been classified in the consolidated balance sheets according to management’s intent. U.S. Government agency mortgage-backed securities consists of securities issued by U.S. Government agencies and U.S. Government sponsored enterprises. Investment securities at March 31, 2020 and June 30, 2019 are as follows: Gross Gross Change in Amortized Unrealized Unrealized Fair Value Fair March 31, 2020 Cost Gains Losses Equity Securities Value Available-for-sale: FHLMC common stock $ 20 $ — $ — $ 94 $ 114 Certificates of deposit 2,493 52 — — 2,545 Municipal securities 21,102 476 (4 ) — 21,574 SBA loan pools 15 — — — 15 CMOs 10,733 345 (1 ) — 11,077 U.S. Government agency mortgage-backed securities 48,007 1,514 — — 49,521 U.S. Government agency bonds 2,013 26 — — 2,039 Total available-for-sale $ 84,383 $ 2,413 $ (5 ) $ 94 $ 86,885 Gross Gross Change in Amortized Unrealized Unrealized Fair Value Fair June 30, 2019 Cost Gains Losses Equity Securities Value Available-for-sale: FHLMC common stock $ 20 $ — $ — $ 192 $ 212 Certificates of deposit 2,493 11 (5 ) — 2,499 Municipal securities 24,968 295 (38 ) — 25,225 SBA loan pools 22 — — — 22 CMOs 14,889 111 (30 ) — 14,970 U.S. Government agency mortgage-backed securities 40,366 228 (52 ) — 40,542 U.S. Government agency bonds 11,980 10 (31 ) — 11,959 Total available-for-sale $ 94,738 $ 655 $ (156 ) $ 192 $ 95,429 Securities pledged at March 31, 2020 and June 30, 2019 had fair values of $14,404 and $26,029, respectively. These securities were pledged to secure public deposits and Federal Home Loan Bank (“FHLB”) advances. At March 31, 2020 and June 30, 2019, there were no holdings of securities of any one issuer, other than U.S. Government agencies and U.S. Government sponsored enterprises, in an amount greater than 10% of shareholders’ equity. The following tables show the fair value and unrealized loss of securities that have been in unrealized loss positions for less than twelve months and for twelve months or more at March 31, 2020 and June 30, 2019. The tables also show the number of securities in an unrealized loss position for each category of investment security as of the respective dates. Less than 12 Months 12 Months or More Total Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) March 31, 2020 Available-for-sale: Municipal securities 1,149 (4 ) 2 — — — 1,149 (4 ) 2 CMOs 573 (1 ) 1 — — — 573 (1 ) 1 U.S. Government agency — — — — — — mortgage-backed securities — — — — — — — — — U.S. Government agency bonds — — — — — — — — — $ 1,725 $ (5 ) 3 $ — $ — — $ 1,725 $ (5 ) 3 Less than 12 Months 12 Months or More Total Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) June 30, 2019 Available-for-sale: Certificates of deposit $ 991 $ (5 ) 4 $ — $ — — $ 991 $ (5 ) 4 Municipal securities 745 (10 ) 2 3,750 (28 ) 7 4,495 (38 ) 9 CMOs — — — 3,059 (30 ) 7 3,059 (30 ) 7 U.S. Government agency mortgage-backed securities 5,377 (9 ) 5 11,198 (43 ) 18 16,575 (52 ) 23 U.S. Government agency bonds 4,475 (23 ) 4 2,013 (8 ) 2 6,488 (31 ) 6 $ 11,588 $ (47 ) 15 $ 20,020 $ (109 ) 34 $ 31,608 $ (156 ) 49 (1) Actual amounts. The Company evaluates securities for other-than-temporary impairments (“OTTI”) at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. The Company considers the length of time and the extent to which the fair value has been less than amortized cost and the financial condition and near-term prospects of the issuer. Additionally, the Company considers its intent to sell or whether it will be more likely than not it will be required to sell the security prior to the security’s anticipated recovery in fair value. In analyzing an issuer’s financial condition, the Company may consider whether the securities are issued by federal Government agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial condition. None of the unrealized losses at March 31, 2020 were recognized into net income for the three or nine months ended March 31, 2020 because the issuers’ bonds are of high credit quality, management does not intend to sell and it is more likely than not that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates. The fair value of these securities is expected to recover as they approach their maturity date or reset date. None of the unrealized losses at June 30, 2019 were recognized as having OTTI during the year ended June 30, 2019. The following table presents the amortized cost and fair value of debt securities classified as available-for-sale at March 31, 2020 and June 30, 2019 by contractual maturity. March 31, 2020 June 30, 2019 Amortized Fair Amortized Fair Cost Value Cost Value Less than one year $ 251 $ 250 $ 2,000 $ 1,994 Due from one to five years 8,525 8,697 11,627 11,663 Due after five years to ten years 11,284 11,538 18,817 18,955 Due after ten years 5,563 5,688 7,019 7,093 Mortgage-backed securities, CMOs and FHLMC stock (1) 58,760 60,712 55,275 55,724 Total available for sale $ 84,383 $ 86,885 $ 94,738 $ 95,429 (1) Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty. FHLMC common stock is not scheduled because it has no contractual maturity date. The following table presents the gross proceeds from sales of securities available-for-sale and gains or losses recognized for the three and nine months ended March 31, 2020 and 2019: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Available-for-sale: Proceeds $ 9,494 $ 11,035 $ 14,762 $ 12,228 Gross gains 122 10 137 13 Gross losses (9 ) (61 ) (12 ) (63 ) The tax provision related to the net realized gain for the nine months ended March 31, 2020 was $26, and the tax benefit related to the net realized loss for the nine months ended March 31, 2019 was $11.

LOANS

LOANS	9 Months Ended
	Mar. 31, 2020
Loans and Leases Receivable Disclosure [Abstract]
LOANS	(5) LOANS The components of loans at March 31, 2020 and June 30, 2019 were as follows: March 31, June 30, Real estate loans: One-to-four family $ 284,226 $ 289,077 Multi-family 1,506 1,605 Home equity 6,458 5,191 Nonresidential 14,671 19,350 Agricultural 1,525 1,510 Construction and land 34,194 33,651 Total real estate loans 342,580 350,384 Commercial and industrial 3,738 4,390 Consumer and other loans 6,846 5,314 Total loans $ 353,164 $ 360,088 The following tables present the activity in the allowance for loan losses for the three and nine months ended March 31, 2020 by portfolio segment: Three months ended March 31, 2020 Beginning Balance Provision Charge-offs Recoveries Ending Real estate loans: One-to-four family $ 993 $ 6 $ — $ — $ 999 Multi-family 4 — — — 4 Home equity 33 3 — — 36 Nonresidential 77 (14 ) — — 63 Agricultural 4 — — — 4 Construction and land 94 10 — — 104 Total real estate loans 1,205 5 — — 1,210 Commercial and industrial 66 (7 ) — — 59 Consumer and other loans 25 2 — — 27 Total loans $ 1,296 $ — $ — $ — $ 1,296 Nine months ended March 31, 2020 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 995 $ 4 $ — $ — $ 999 Multi-family 4 — — — 4 Home equity 24 12 — — 36 Nonresidential 87 (24 ) — — 63 Agricultural 3 1 — — 4 Construction and land 94 10 — — 104 Total real estate loans 1,207 3 — — 1,210 Commercial and industrial 67 (8 ) — — 59 Consumer and other loans 23 5 (1 ) — 27 Total loans $ 1,297 $ — $ (1 ) $ — $ 1,296 The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at March 31, 2020: Ending Allowance on Loans: Loans: At March 31, 202 Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment Real estate loans: One-to-four family $ — $ 999 $ 2,473 $ 281,753 Multi-family — 4 — 1,506 Home equity — 36 — 6,458 Nonresidential — 63 575 14,096 Agricultural — 4 320 1,205 Construction and land — 104 — 34,194 Total real estate loans — 1,210 3,368 339,212 Commercial and industrial — 59 — 3,738 Consumer and other loans — 27 — 6,846 Total loans $ — $ 1,296 $ 3,368 $ 349,796 The following tables present the activity in the allowance for loan losses for the three and nine months ended March 31, 2019 by portfolio segment: Three months ended March 31, 2019 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 986 $ 18 $ — $ — $ 1,004 Multi-family 4 — — — 4 Home equity 15 5 — — 20 Nonresidential 104 (11 ) — — 93 Agricultural 1 — — — 1 Construction and land 97 (3 ) — — 94 Total real estate loans 1,207 9 — — 1,216 Commercial and industrial 18 55 — — 73 Consumer and other loans 3 21 — — 24 Total loans $ 1,228 $ 85 $ — $ — $ 1,313 Nine months ended March 31, 2019 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 939 $ 83 $ (18 ) $ — $ 1,004 Multi-family 4 — — — 4 Home equity 8 12 — — 20 Nonresidential 66 27 — — 93 Agricultural 1 — — — 1 Construction and land 74 20 — — 94 Total real estate loans 1,092 142 (18 ) — 1,216 Commercial and industrial 4 69 — — 73 Consumer and other loans 1 23 — — 24 Total loans $ 1,097 $ 234 $ (18 ) $ — $ 1,313 The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at June 30, 2019: Ending Allowance on Loans: Loans: At June 30, 2019 Individually Evaluated for Impairment Collectively Evaluated for Individually Evaluated for Collectively Evaluated for Real estate loans: One-to-four family $ — $ 995 $ 2,291 $ 286,786 Multi-family — 4 — 1,605 Home equity — 24 — 5,191 Nonresidential — 87 613 18,737 Agricultural — 3 356 1,154 Construction and land — 94 — 33,651 Total real estate loans — 1,207 3,260 347,124 Commercial and industrial — 67 — 4,390 Consumer and other loans — 23 — 5,314 Total loans $ — $ 1,297 $ 3,260 $ 356,828 The tables below present loans that were individually evaluated for impairment by portfolio segment at March 31, 2020 and June 30, 2019, including the average recorded investment balance and interest earned for the nine months ended March 31, 2020 and the year ended June 30, 2019: March 31, 2020 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized With no recorded allowance: Real estate loans: One-to-four family $ 2,553 $ 2,473 $ — $ 2,382 $ 46 Multi-family — — — — — Home equity — — — — — Nonresidential 608 575 — 594 — Agricultural 869 320 — 338 — Construction and land — — — — — Total real estate loans 4,030 3,368 — 3,314 46 Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ 4,030 $ 3,368 $ — $ 3,314 $ 46 With recorded allowance: Real estate loans: One-to-four family $ — $ — $ — $ — $ — Multi-family — — — — — Home equity — — — — — Nonresidential — — — — — Agricultural — — — — — Construction and land — — — — — Total real estate loans — — — — — Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ — $ — $ — $ — $ — Totals: Real estate loans $ 4,030 $ 3,368 $ — $ 3,314 $ 46 Consumer and other loans — — — — — Total $ 4,030 $ 3,368 $ — $ 3,314 $ 46 June 30, 2019 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized With no recorded allowance: Real estate loans: One-to-four family $ 2,375 $ 2,291 $ — $ 2,363 $ 53 Multi-family — — — — — Home equity — — — — — Nonresidential 648 613 — 642 — Agricultural 905 356 — 390 — Construction and land — — — — — Total real estate loans 3,928 3,260 — 3,395 53 Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ 3,928 $ 3,260 $ — $ 3,395 $ 53 With recorded allowance: Real estate loans: One-to-four family $ — $ — $ — $ — $ — Multi-family — — — — — Home equity — — — — — Nonresidential — — — — — Agricultural — — — — — Construction and land — — — — — Total real estate loans — — — — — Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ — $ — $ — $ — $ — Totals: Real estate loans $ 3,928 $ 3,260 $ — $ 3,395 $ 53 Consumer and other loans — — — — — Total $ 3,928 $ 3,260 $ — $ 3,395 $ 53 The following tables present the aging of past due loans as well as nonaccrual loans. Nonaccrual loans and accruing loans past due 90 days or more include both smaller balance homogenous loans and larger balance loans that are evaluated either collectively or individually for impairment. Total past due loans and nonaccrual loans at March 31, 2020: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 4,053 $ 1,503 $ 766 $ 6,322 $ 277,904 $ 284,226 $ 2,687 $ — Multi-family 222 — — 222 1,284 1,506 — — Home equity 9 — 40 49 6,409 6,458 40 — Nonresidential 445 184 — 629 14,042 14,671 758 — Agricultural 320 — — 320 1,205 1,525 320 — Construction and land 27 28 — 55 34,139 34,194 29 — Total real estate loans 5,076 1,715 806 7,597 334,983 342,580 3,834 — Commercial and industrial — — — — 3,738 3,738 — — Consumer and other loans — — — — 6,846 6,846 — — Total $ 5,076 $ 1,715 $ 806 $ 7,597 $ 345,567 $ 353,164 $ 3,834 $ — Total past due and nonaccrual loans by portfolio segment at June 30, 2019: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 5,879 $ 1,486 $ 229 $ 7,594 $ 281,483 $ 289,077 $ 2,674 $ — Multi-family 228 — — 228 1,377 1,605 — — Home equity 64 — 40 104 5,087 5,191 40 — Nonresidential 458 — — 458 18,892 19,350 816 — Agricultural — — — — 1,510 1,510 356 — Construction and land 308 31 — 339 33,312 33,651 31 — Total real estate loans 6,937 1,517 269 8,723 341,661 350,384 3,917 — Commercial and industrial — — — — 4,390 4,390 — — Consumer and other loans 8 — — 8 5,306 5,314 — — Total $ 6,945 $ 1,517 $ 269 $ 8,731 $ 351,357 $ 360,088 $ 3,917 $ — Troubled Debt Restructurings: At March 31, 2020 and June 30, 2019, total loans that have been modified as troubled debt restructurings were $2,400 and $2,675, respectively, which consisted of one agricultural loan, two non-residential real estate loans and four one-to-four family first lien loans at March 31, 2020 and June 30, 2019. There was no specific allowance for loss established for these loans at March 31, 2020 or June 30, 2019. Additionally, there were no commitments to lend any additional amounts on any loan after the modification. No loans have been modified as troubled debt restructurings during the nine months ended March 31, 2020. No loans modified as troubled debt restructurings during the twelve months ended March 31, 2020 have defaulted since restructuring. All of these loans are on nonaccrual at March 31, 2020 and June 30, 2019. At March 31, 2020 and June 30, 2019, $2,133 and $2,291, respectively, were individually evaluated for impairment. Allowance for Loan Loss: There have been no changes to our allowance for loan loss methodology during the quarter ended March 31, 2020. We have assessed the impact of the COVID-19 pandemic on the allowance for loan loss using the information that is available and have made adjustments to certain qualitative factors in our model in response to the additional risks that we believe have become present. After such adjustments to the calculation, we have determined that the recorded allowance is believed to be adequate at this time and as a result no additional provision for loan losses has been recorded during the quarter ended March 31, 2020. However, the rapid development and fluidity of this pandemic precludes any prediction as to the ultimate material adverse impact of the COVID-19 outbreak. We will continue to review and make adjustments as may be necessary as we move through the pandemic related quarantine and the country reopens. To the best of our knowledge, we have recorded all losses that are both probable and reasonably estimable for the three and nine months ended March 31, 2020 and March 31, 2019, respectively. Loan Grades: The Company utilizes a grading system whereby all loans are assigned a grade based on the risk profile of each loan. Loan grades are determined based on an evaluation of relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. All loans, regardless of size, are analyzed and are given a grade based upon the management’s assessment of the ability of borrowers to service their debts. Pass: Loan assets of this grade conform to a preponderance of our underwriting criteria and are acceptable as a credit risk, based upon the current net worth and paying capacity of the obligor. Loans in this category also include loans secured by liquid assets and secured loans to borrowers with unblemished credit histories. Pass-Watch: Loan assets of this grade represent our minimum level of acceptable credit risk. This grade may also represent obligations previously rated “Pass”, but with significantly deteriorating trends or previously rated. Special Mention: Loan assets of this grade have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loan assets of this grade are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Portfolio Segments: One-to-four family: For traditional homes, the Company may originate loans with loan-to-value ratios in excess of 80% if the borrower obtains mortgage insurance or provides readily marketable collateral. The Company may make exceptions for special loan programs that we offer. The Company also originates residential mortgage loans for non-owner-occupied homes with loan-to-value ratios of up to 80%. The Company historically originated residential mortgage loans with loan-to-value ratios of up to 75% for manufactured or modular homes. The Company no longer offers residential mortgage loans for manufactured or modular homes as of December 1, 2014. However, renewals of existing performing credits that meet the Company’s underwriting requirements will be considered. The Company requires lower loan-to-value ratios for manufactured and modular homes because such homes tend to depreciate over time. Manufactured or modular homes must be permanently affixed to a lot to make them more difficult to move without the Company’s permission. Such homes must be “de-titled” by the State of South Carolina or Georgia so that they are taxed and must be transferred as residential homes rather than vehicles. The Company also obtains a mortgage on the real estate to which such homes are affixed. Multi-family: Multi-family real estate loans generally present a higher level of risk than loans secured by one-to-four family residences. This greater risk is due to several factors, including the concentration of principal in a limited number of loans and borrowers, the effects of general economic conditions on income-producing properties and the increased difficulty of evaluating and monitoring these types of loans. Furthermore, the repayment of loans secured by multi-family residential real estate is typically dependent upon the successful operation of the related real estate project. Home Equity: Nonresidential Real Estate: Loans secured by nonresidential real estate generally are larger than one-to-four family residential loans and involve greater credit risk. Nonresidential real estate loans often involve large loan balances to single borrowers or groups of related borrowers. Repayment of these loans depends to a large degree on the results of operations and management of the properties securing the loans or the businesses conducted on such property, and may be affected to a greater extent by adverse conditions in the real estate market or the economy in general, including the current adverse conditions. Our nonresidential real estate lending includes a significant amount of loans to churches. Because a church’s financial stability often depends on donations from congregation members rather than income from business operations, repayment may be affected by economic conditions that affect individuals located both in our market area and in other market areas with which we are not as familiar. In addition, due to the unique nature of church buildings and properties, the real estate securing church loans may be less marketable than other nonresidential real estate. The Company considers a number of factors in originating nonresidential real estate loans. The Company evaluates the qualifications and financial condition of the borrower, including credit history, cash flows, the applicable business plan, the financial resources of the borrower, the borrower’s experience in owning or managing similar property and the borrower’s payment history with the Company and other financial institutions. In evaluating the property securing the loan, the factors the Company considers include the net operating income of the mortgaged property before debt service and depreciation, the ratio of the loan amount to the appraised value of the mortgaged property and the debt service coverage ratio (the ratio of net operating income to debt service). For church loans, the Company also considers the length of time the church has been in existence, the size and financial strength of the denomination with which it is affiliated, attendance figures and growth projections and current operating budgets. The collateral underlying all nonresidential real estate loans is appraised by outside independent appraisers approved by our board of directors. Personal guarantees may be obtained from the principals of nonresidential real estate borrowers, and in the case of church loans, guarantees from the applicable denomination may be obtained. Agricultural: Loans secured by agricultural real estate generally are larger than one-to-four family residential loans and involve greater credit risk. Agricultural real estate loans often involve large loan balances to single borrowers or groups of related borrowers. Repayment of these loans depends to a large degree on the results of operations and management of the properties securing the loans or the businesses conducted on such property, and may be affected to a greater extent by adverse conditions in the real estate market or the economy in general, including the current adverse conditions. Construction and Land: The Company also makes interim construction loans for nonresidential properties. In addition, the Company occasionally makes loans for the construction of homes “on speculation,” but the Company generally permits a borrower to have only two such loans at a time. These loans generally have a maximum term of eight months, and upon completion of construction convert to conventional amortizing nonresidential real estate loans. These construction loans have rates and terms comparable to permanent loans secured by property of the type being constructed that we originate. Generally, the maximum loan-to-value ratio of these construction loans is 85%. Commercial and Industrial Loans: Commercial and industrial loans and leases typically are underwritten on the basis of the borrower’s or lessee’s ability to make repayment from the cash flow of its business and generally are collateralized by business assets. As a result, such loans and leases involve additional complexities, variables and risks and require more thorough underwriting and servicing than other types of loans and leases. Consumer and Other Loans: Consumer loans may entail greater credit risk than residential mortgage loans, particularly in the case of consumer loans that are unsecured or are secured by rapidly depreciable assets, such as automobiles. In addition, consumer loan collections are dependent on the borrower’s continuing financial stability, and thus are more likely to be affected by adverse personal circumstances. Furthermore, the application of various federal and state laws, including bankruptcy and insolvency laws, may limit the amount which can be recovered on such loans. Based on the most recent analysis performed, the risk grade of loans by portfolio segment are presented in the following tables. Total loans by risk grade and portfolio segment at March 31, 2020: Pass Pass- Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 272,432 $ 4,285 $ 2,858 $ 4,651 $ — $ 284,226 Multi-family 1,506 — — — — 1,506 Home equity 5,954 400 55 49 — 6,458 Nonresidential 13,485 340 — 846 — 14,671 Agricultural 1,205 — — 320 — 1,525 Construction and land 33,700 423 — 71 — 34,194 Total real estate loans 328,282 5,448 2,913 5,937 — 342,580 Commercial and industrial 3,738 — — — — 3,738 Consumer and other loans 6,846 — — — — 6,846 Total $ 338,866 $ 5,448 $ 2,913 $ 5,937 $ — $ 353,164 Total loans by risk grade and portfolio segment at June 30, 2019: Pass Pass-Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 276,141 $ 5,316 $ 3,217 $ 4,403 $ — $ 289,077 Multi-family 1,605 — — — — 1,605 Home equity 4,733 313 69 76 — 5,191 Nonresidential 17,951 491 — 908 — 19,350 Agricultural 1,154 — — 356 — 1,510 Construction and land 33,130 446 — 75 — 33,651 Total real estate loans 334,714 6,566 3,286 5,818 — 350,384 Commercial and industrial 4,390 — — — — 4,390 Consumer and other loans 5,314 — — — — 5,314 Total $ 344,418 $ 6,566 $ 3,286 $ 5,818 $ — $ 360,088 At March 31, 2020, loans totaling $109 were in formal foreclosure proceedings and are included in the one-to-four family loan category.

BORROWINGS

BORROWINGS	9 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
BORROWINGS	(6) BORROWINGS At March 31, 2020 and June 30, 2019, advances from the Federal Home Loan Bank were as follows: March 31, 2020 Balance Stated Interest Rate FHLB advances due February 2023 through January 2025 $ 5,000 1.40% - 1.59% Total $ 5,000 June 30, 2019 Balance Stated Interest Rate FHLB advances due September 2019 through December 2019 $ 19,000 2.62% - 2.78% Total $ 19,000 Payments over the next five years are as follows: 2023 $ 2,500 2025 $ 2,500 The average interest rate of all outstanding FHLB advances was 1.50% and 2.75% on March 31, 2020 and June 30, 2019, respectively. Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The advances are collateralized by $12,499 and $22,632 of investment securities at March 31, 2020 and June 30, 2019, respectively. The Association has also pledged as collateral FHLB stock and has entered into a blanket collateral agreement whereby qualifying mortgages, free of other encumbrances and at various discounted values as determined by the FHLB, will be maintained. Based on this collateral, the Association is eligible to borrow up to a total of $126,142 at March 31, 2020. There were no overnight borrowings at March 31, 2020 or June 30, 2019.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	(7) FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value is the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Investment Securities: The fair values for investment securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). Impaired Loans: The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Real Estate Owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals, which are updated no less frequently than annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Real estate owned properties are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Appraisals for both collateral-dependent impaired loans and real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. On an annual basis, the Company compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value. Loan Servicing Rights: Fair value is determined based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data and results in a Level 3 classification. Assets and liabilities measured at fair value on a recurring basis at March 31, 2020 and June 30, 2019 are summarized below: Fair Value Measurements March 31, 2020 June 30, 2019 (Level 2) (Level 3) (Level 2) (Level 3) Financial assets: Securities available-for-sale: FHLMC common stock $ 114 $ — $ 212 $ — Certificates of deposit 2,545 — 2,499 — Municipal securities 21,574 — 25,225 — SBA loan pools 15 — 22 — CMOs 11,077 — 14,970 — U.S. Government agency mortgage-backed securities 49,521 — 40,542 — U.S. Government agency bonds 2,039 — 11,959 — Total securities available-for-sale 86,885 — 95,429 — Loan servicing rights — 590 — 868 Total financial assets $ 86,885 $ 590 $ 95,429 $ 868 Presented in the table below are assets measured at fair value on a nonrecurring basis using level 3 inputs at March 31, 2020 and June 30, 2019: Fair Value Measurements March 31, June 30, (Level 3) (Level 3) Non-financial assets: Real estate owned, net: One-to-four family $ 136 $ 226 Nonresidential 159 585 Total non-financial assets 295 811 Total assets measured at fair value on a non-recurring basis $ 295 $ 811 Real estate owned is carried at the lower of carrying value or fair value less costs to sell. The carrying value of real estate owned at March 31, 2020 and June 30, 2019 was $295 and $811, respectively. The valuation allowances associated with these properties at March 31, 2020 and June 30, 2019 was $89 and $38, respectively. The table below presents a reconciliation of all Level 3 assets measured at fair value on a recurring basis using significant unobservable inputs for the three and nine months ended March 31, 2020 and 2019: Fair Value Measurements (Level 3) Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Loan Servicing Rights Loan Servicing Rights Loan Servicing Rights Loan Servicing Rights Balance at beginning of period: $ 781 $ 1,017 $ 868 $ 1,093 Purchases — — — — Unrealized net losses included in net income (191 ) (67 ) (278 ) $ (143 ) Balance at end of period: $ 590 $ 950 $ 590 $ 950 The table below presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at March 31, 2020 and June 30, 2019. Level 3 Quantitative Information March 31, June 30, Valuation Technique Unobservable Inputs Range Fair Value Fair Value Loan servicing rights $ 590 $ 868 Discounted cash flows Discount rate, estimated timing of cash flows 9.00% to 9.75% Real estate owned net: One-to-four family $ 136 $ 226 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Nonresidential $ 159 $ 585 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Many of the Company’s assets and liabilities are short-term financial instruments whose carrying amounts reported in the consolidated balance sheets approximate fair value. These items include cash and cash equivalents, bank owned life insurance, accrued interest receivable and payable balances, variable rate loan and deposits that re-price frequently and fully. The estimated fair values of the Company’s remaining on-balance sheet financial instruments at March 31, 2020 and June 30, 2019 are summarized below: March 31, 2020 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 86,885 $ — $ 86,885 $ — $ 86,885 Loans, net (1) 351,868 — — 353,115 353,115 Loans held for sale (2) 1,083 — — 1,083 1,083 Loan servicing rights 590 — — 590 590 Restricted equity securities 1,249 N/A N/A N/A N/A Financial liabilities Deposits $ 406,363 $ 201,353 $ 201,876 $ — $ 403,229 FHLB Advances 5,000 — 5,000 — 5,000 June 30, 2019 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 95,429 $ — $ 95,429 $ — $ 95,429 Loans, net (1) 358,791 — — 358,473 358,473 Loan servicing rights 868 — — 868 868 Restricted equity securities 1,854 N/A N/A N/A N/A Financial liabilities Deposits $ 419,106 $ 196,466 $ 218,985 $ — $ 415,451 FHLB Advances 19,000 — 19,000 — 19,000 (1) Carrying amount of loans is net of unearned income and the allowance. In accordance with the adoption of ASU No. 2016-01, the fair value of loans as of March 31, 2020 and June 30, 2019 was measured using an exit price notion. (2) Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors and result in a Level 3 classification.

EMPLOYEE STOCK OWNERSHIP PLAN

EMPLOYEE STOCK OWNERSHIP PLAN	9 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
EMPLOYEE STOCK OWNERSHIP PLAN	(8) EMPLOYEE STOCK OWNERSHIP PLAN Employees participate in an Employee Stock Ownership Plan (“ESOP”). The ESOP borrowed from the Company to purchase 248,842 shares of the Company’s common stock at $10.00 per share during 2011. The Company makes discretionary contributions to the ESOP and pays dividends on unallocated shares to the ESOP, and the ESOP uses funds it receives to repay the loan. When loan payments are made, ESOP shares are allocated to participants based on relative compensation and expense is recorded. Dividends on allocated shares increase participant accounts. Participants receive the shares at the end of employment. The Company makes contributions to the ESOP each December. There were no discretionary contributions made to the ESOP for debt retirement in 2019 or 2018. Total ESOP compensation expense for the three and nine months ended March 31, 2020 was $93 and $301, respectively, and for the three and nine months ended March 31, 2019 was $98 and $323, respectively. Shares held by the ESOP at March 31, 2020 and June 30, 2019 were as follows: March 31, June 30, Committed to be released to participants 6,417 11,983 Allocated to participants 141,548 127,257 Unearned 44,736 59,245 Total ESOP shares 192,701 198,485 Fair value of unearned shares $ 851 $ 1,360

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
STOCK BASED COMPENSATION	(9) STOCK BASED COMPENSATION On April 5, 2012, the shareholders of Oconee Federal Financial Corp. approved the Oconee Federal Financial Corp. 2012 Equity Incentive Plan (the “Plan”) for employees and directors of the Company. The Plan authorizes the issuance of up to 435,472 shares of the Company’s common stock, with no more than 124,420 of shares as restricted stock awards and 311,052 as stock options, either incentive stock options or non-qualified stock options. The exercise price of options granted under the Plan may not be less than the fair market value on the date the stock option is granted. The compensation committee of the board of directors has sole discretion to determine the amount and to whom equity incentive awards are granted. There have been no stock options or restricted stock issued in fiscal 2020 or fiscal 2019. The following table summarizes stock option activity for the nine months ended March 31, 2020: Options Weighted- Average Exercise Price/Share Aggregate Intrinsic (1) Outstanding - June 30, 2019 169,519 $ 14.65 Granted — — Exercised — — Forfeited (5,200 ) 29.33 Outstanding - March 31, 2020 164,319 $ 14.18 $ 796 Fully vested and exercisable at March 31, 2020 148,319 $ 13.08 $ 883 Expected to vest in future periods 16,000 Fully vested and expected to vest - March 31, 2020 164,319 $ 14.18 $ 796 (1) The intrinsic value for stock options is defined as the difference between the current market value and the exercise price. The current market price was based on the closing price of common stock of $19.03 per share on March 31, 2020. Stock options are assumed to be earned ratably over their respective vesting periods and charged to compensation expense based upon their grant date fair value and the number of options assumed to be earned. There were 3,681 and 11,873 options that were earned during the nine months ended March 31, 2020 and 2019, respectively. Stock-based compensation expense for stock options for the three and nine months ended March 31, 2020 was $5 and $15, respectively, and for the three and nine months ended March 31, 2019 was $10 and $31, respectively. Total unrecognized compensation cost related to stock options was $61 at March 31, 2020 and is expected to be recognized over a weighted-average period of 3.3 years. The following table summarizes non-vested restricted stock activity for the nine months ended March 31, 2020: March 31, Balance - beginning of year 8,800 Granted — Forfeited — Vested — Balance - end of period 8,800 Weighted average grant date fair value $ 19.77 The fair value of the restricted stock awards is amortized to compensation expense over their respective vesting periods and is based on the market price of the Company’s common stock at the date of grant multiplied by the number of shares granted that are expected to vest. Stock-based compensation expense for restricted stock included in noninterest expense for the three and nine months ended March 31, 2020 was $15 and $44, respectively, and for the three and nine months ended March 31, 2019 was $24 and $75, respectively. Unrecognized compensation expense for non-vested restricted stock awards was $104 at March 31, 2020 and is expected to be recognized over a weighted-average period of 2.0 years.

LOAN SERVICING RIGHTS

LOAN SERVICING RIGHTS	9 Months Ended
	Mar. 31, 2020
Transfers and Servicing [Abstract]
LOAN SERVICING RIGHTS	(10) LOAN SERVICING RIGHTS Mortgage loans serviced for others are not reported as assets; however, the underlying mortgage servicing rights associated with servicing these mortgage loans serviced for others is recorded as an asset in the consolidated balance sheet. The principal balances of those loans at March 31, 2020 and June 30, 2019 are as follows: March 31, June 30, Mortgage loan portfolio serviced for: FHLMC $ 69,622 $ 83,938 Custodial escrow balances maintained in connection with serviced loans were $558 and $771 at March 31, 2020 and June 30, 2019. Activity for loan servicing rights for the three and nine months ended March 31, 2020 and 2019 is as follows: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Loan servicing rights: Beginning of period: $ 781 $ 1,017 $ 868 $ 1,093 Additions — — — — Change in fair value (191 ) (67 ) (278 ) (143 ) End of period: $ 590 $ 950 $ 590 $ 950 Fair value at March 31, 2020 was determined using a discount rate of 9.00%, prepayment speed assumptions ranging from 7.43% to 30.79% Conditional Prepayment Rate (“CPR”) depending on the loans’ coupon, term and seasoning, and a weighted average default rate of 0.26%. Fair value at March 31, 2019 was determined using a discount rate of 9.75%, prepayment speed assumptions ranging from 5.1% to 13.6% CPR depending on the loans’ coupon, term and seasoning, and a weighted average default rate of 0.37%.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	(11) SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information for the nine months ended March 31, 2020 and 2019 is as follows: March 31, March 31, Cash paid during the period for: Interest paid $ 3,187 $ 2,480 Income taxes paid $ 140 $ 543 Supplemental noncash disclosures: Transfers from loans to real estate owned $ — $ 273 Change in unrealized gain/loss on securities available-for-sale $ 1,909 $ 2,291

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	(12) SUBSEQUENT EVENTS Dividend Declared On April 23, 2020, the Board of Directors of Oconee Federal Financial Corp. declared a quarterly cash dividend of $0.10 per share of Oconee Federal Financial Corp.’s common stock. The dividend is payable to stockholders of record as of May 7, 2020, and will be paid on or about May 21, 2020.

EARNINGS PER SHARE (''EPS'') (T

EARNINGS PER SHARE (''EPS'') (Tables)	9 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Schedule of computation of in the earnings per common share	The factors used in the earnings per common share computation follow: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Earnings per share Net income $ 946 $ 952 $ 2,971 $ 2,741 Less: distributed earnings allocated to participating securities (1 ) (2 ) (3 ) (4 ) Less: (undistributed income) dividends in excess of earnings allocated to participating securities — — (2 ) (3 ) Net earnings available to common shareholders $ 945 $ 950 $ 2,966 $ 2,734 Weighted average common shares outstanding including participating securities 5,705,937 5,759,840 5,721,903 5,765,601 Less: participating securities (8,800 ) (15,355 ) (8,800 ) (15,355 ) Less: average unearned ESOP shares (51,990 ) (71,107 ) (54,778 ) (73,799 ) Weighted average common shares outstanding 5,645,147 5,673,378 5,658,325 5,676,447 Basic earnings per share $ 0.17 $ 0.17 $ 0.52 $ 0.48 Weighted average common shares outstanding 5,645,147 5,673,378 5,658,325 5,676,447 Add: dilutive effects of assumed exercises of stock options 71,002 123,144 67,598 123,526 Average shares and dilutive potential common shares 5,716,149 5,796,522 5,725,923 5,799,973 Diluted earnings per share $ 0.17 $ 0.16 $ 0.52 $ 0.47

SECURITIES AVAILABLE-FOR-SALE (

SECURITIES AVAILABLE-FOR-SALE (Tables)	9 Months Ended
	Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of investment securities	Investment securities at March 31, 2020 and June 30, 2019 are as follows: Gross Gross Change in Amortized Unrealized Unrealized Fair Value Fair March 31, 2020 Cost Gains Losses Equity Securities Value Available-for-sale: FHLMC common stock $ 20 $ — $ — $ 94 $ 114 Certificates of deposit 2,493 52 — — 2,545 Municipal securities 21,102 476 (4 ) — 21,574 SBA loan pools 15 — — — 15 CMOs 10,733 345 (1 ) — 11,077 U.S. Government agency mortgage-backed securities 48,007 1,514 — — 49,521 U.S. Government agency bonds 2,013 26 — — 2,039 Total available-for-sale $ 84,383 $ 2,413 $ (5 ) $ 94 $ 86,885 Gross Gross Change in Amortized Unrealized Unrealized Fair Value Fair June 30, 2019 Cost Gains Losses Equity Securities Value Available-for-sale: FHLMC common stock $ 20 $ — $ — $ 192 $ 212 Certificates of deposit 2,493 11 (5 ) — 2,499 Municipal securities 24,968 295 (38 ) — 25,225 SBA loan pools 22 — — — 22 CMOs 14,889 111 (30 ) — 14,970 U.S. Government agency mortgage-backed securities 40,366 228 (52 ) — 40,542 U.S. Government agency bonds 11,980 10 (31 ) — 11,959 Total available-for-sale $ 94,738 $ 655 $ (156 ) $ 192 $ 95,429
Schedule of fair value and unrealized loss of securities	The tables also show the number of securities in an unrealized loss position for each category of investment security as of the respective dates. Less than 12 Months 12 Months or More Total Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) March 31, 2020 Available-for-sale: Municipal securities 1,149 (4 ) 2 — — — 1,149 (4 ) 2 CMOs 573 (1 ) 1 — — — 573 (1 ) 1 U.S. Government agency — — — — — — mortgage-backed securities — — — — — — — — — U.S. Government agency bonds — — — — — — — — — $ 1,725 $ (5 ) 3 $ — $ — — $ 1,725 $ (5 ) 3 Less than 12 Months 12 Months or More Total Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) Fair Value Unrealized Number in Unrealized Loss (1) June 30, 2019 Available-for-sale: Certificates of deposit $ 991 $ (5 ) 4 $ — $ — — $ 991 $ (5 ) 4 Municipal securities 745 (10 ) 2 3,750 (28 ) 7 4,495 (38 ) 9 CMOs — — — 3,059 (30 ) 7 3,059 (30 ) 7 U.S. Government agency mortgage-backed securities 5,377 (9 ) 5 11,198 (43 ) 18 16,575 (52 ) 23 U.S. Government agency bonds 4,475 (23 ) 4 2,013 (8 ) 2 6,488 (31 ) 6 $ 11,588 $ (47 ) 15 $ 20,020 $ (109 ) 34 $ 31,608 $ (156 ) 49 (1) Actual amounts.
Schedule of classified amortized cost and fair value of debt securities	The following table presents the amortized cost and fair value of debt securities classified as available-for-sale at March 31, 2020 and June 30, 2019 by contractual maturity. March 31, 2020 June 30, 2019 Amortized Fair Amortized Fair Cost Value Cost Value Less than one year $ 251 $ 250 $ 2,000 $ 1,994 Due from one to five years 8,525 8,697 11,627 11,663 Due after five years to ten years 11,284 11,538 18,817 18,955 Due after ten years 5,563 5,688 7,019 7,093 Mortgage-backed securities, CMOs and FHLMC stock (1) 58,760 60,712 55,275 55,724 Total available for sale $ 84,383 $ 86,885 $ 94,738 $ 95,429 (1) Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty. FHLMC common stock is not scheduled because it has no contractual maturity date.
Schedule of proceeds from sales of securities	The following table presents the gross proceeds from sales of securities available-for-sale and gains or losses recognized for the three and nine months ended March 31, 2020 and 2019: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Available-for-sale: Proceeds $ 9,494 $ 11,035 $ 14,762 $ 12,228 Gross gains 122 10 137 13 Gross losses (9 ) (61 ) (12 ) (63 )

LOANS (Tables)

LOANS (Tables)	9 Months Ended
	Mar. 31, 2020
Loans and Leases Receivable Disclosure [Abstract]
Schedule of components of loans	The components of loans at March 31, 2020 and June 30, 2019 were as follows: March 31, June 30, Real estate loans: One-to-four family $ 284,226 $ 289,077 Multi-family 1,506 1,605 Home equity 6,458 5,191 Nonresidential 14,671 19,350 Agricultural 1,525 1,510 Construction and land 34,194 33,651 Total real estate loans 342,580 350,384 Commercial and industrial 3,738 4,390 Consumer and other loans 6,846 5,314 Total loans $ 353,164 $ 360,088
Schedule of activity in the allowance for loan losses	The following tables present the activity in the allowance for loan losses for the three and nine months ended March 31, 2020 by portfolio segment: Three months ended March 31, 2020 Beginning Balance Provision Charge-offs Recoveries Ending Real estate loans: One-to-four family $ 993 $ 6 $ — $ — $ 999 Multi-family 4 — — — 4 Home equity 33 3 — — 36 Nonresidential 77 (14 ) — — 63 Agricultural 4 — — — 4 Construction and land 94 10 — — 104 Total real estate loans 1,205 5 — — 1,210 Commercial and industrial 66 (7 ) — — 59 Consumer and other loans 25 2 — — 27 Total loans $ 1,296 $ — $ — $ — $ 1,296 Nine months ended March 31, 2020 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 995 $ 4 $ — $ — $ 999 Multi-family 4 — — — 4 Home equity 24 12 — — 36 Nonresidential 87 (24 ) — — 63 Agricultural 3 1 — — 4 Construction and land 94 10 — — 104 Total real estate loans 1,207 3 — — 1,210 Commercial and industrial 67 (8 ) — — 59 Consumer and other loans 23 5 (1 ) — 27 Total loans $ 1,297 $ — $ (1 ) $ — $ 1,296 The following tables present the activity in the allowance for loan losses for the three and nine months ended March 31, 2019 by portfolio segment: Three months ended March 31, 2019 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 986 $ 18 $ — $ — $ 1,004 Multi-family 4 — — — 4 Home equity 15 5 — — 20 Nonresidential 104 (11 ) — — 93 Agricultural 1 — — — 1 Construction and land 97 (3 ) — — 94 Total real estate loans 1,207 9 — — 1,216 Commercial and industrial 18 55 — — 73 Consumer and other loans 3 21 — — 24 Total loans $ 1,228 $ 85 $ — $ — $ 1,313 Nine months ended March 31, 2019 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 939 $ 83 $ (18 ) $ — $ 1,004 Multi-family 4 — — — 4 Home equity 8 12 — — 20 Nonresidential 66 27 — — 93 Agricultural 1 — — — 1 Construction and land 74 20 — — 94 Total real estate loans 1,092 142 (18 ) — 1,216 Commercial and industrial 4 69 — — 73 Consumer and other loans 1 23 — — 24 Total loans $ 1,097 $ 234 $ (18 ) $ — $ 1,313
Schedule of recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment	The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at March 31, 2020: Ending Allowance on Loans: Loans: At March 31, 202 Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment Real estate loans: One-to-four family $ — $ 999 $ 2,473 $ 281,753 Multi-family — 4 — 1,506 Home equity — 36 — 6,458 Nonresidential — 63 575 14,096 Agricultural — 4 320 1,205 Construction and land — 104 — 34,194 Total real estate loans — 1,210 3,368 339,212 Commercial and industrial — 59 — 3,738 Consumer and other loans — 27 — 6,846 Total loans $ — $ 1,296 $ 3,368 $ 349,796 The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at June 30, 2019: Ending Allowance on Loans: Loans: At June 30, 2019 Individually Evaluated for Impairment Collectively Evaluated for Individually Evaluated for Collectively Evaluated for Real estate loans: One-to-four family $ — $ 995 $ 2,291 $ 286,786 Multi-family — 4 — 1,605 Home equity — 24 — 5,191 Nonresidential — 87 613 18,737 Agricultural — 3 356 1,154 Construction and land — 94 — 33,651 Total real estate loans — 1,207 3,260 347,124 Commercial and industrial — 67 — 4,390 Consumer and other loans — 23 — 5,314 Total loans $ — $ 1,297 $ 3,260 $ 356,828
Schedule of loans individually evaluated for impairment	The tables below present loans that were individually evaluated for impairment by portfolio segment at March 31, 2020 and June 30, 2019, including the average recorded investment balance and interest earned for the nine months ended March 31, 2020 and the year ended June 30, 2019: March 31, 2020 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized With no recorded allowance: Real estate loans: One-to-four family $ 2,553 $ 2,473 $ — $ 2,382 $ 46 Multi-family — — — — — Home equity — — — — — Nonresidential 608 575 — 594 — Agricultural 869 320 — 338 — Construction and land — — — — — Total real estate loans 4,030 3,368 — 3,314 46 Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ 4,030 $ 3,368 $ — $ 3,314 $ 46 With recorded allowance: Real estate loans: One-to-four family $ — $ — $ — $ — $ — Multi-family — — — — — Home equity — — — — — Nonresidential — — — — — Agricultural — — — — — Construction and land — — — — — Total real estate loans — — — — — Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ — $ — $ — $ — $ — Totals: Real estate loans $ 4,030 $ 3,368 $ — $ 3,314 $ 46 Consumer and other loans — — — — — Total $ 4,030 $ 3,368 $ — $ 3,314 $ 46 June 30, 2019 Unpaid Principal Balance Recorded Investment Related Allowance Average Recorded Investment Interest Income Recognized With no recorded allowance: Real estate loans: One-to-four family $ 2,375 $ 2,291 $ — $ 2,363 $ 53 Multi-family — — — — — Home equity — — — — — Nonresidential 648 613 — 642 — Agricultural 905 356 — 390 — Construction and land — — — — — Total real estate loans 3,928 3,260 — 3,395 53 Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ 3,928 $ 3,260 $ — $ 3,395 $ 53 With recorded allowance: Real estate loans: One-to-four family $ — $ — $ — $ — $ — Multi-family — — — — — Home equity — — — — — Nonresidential — — — — — Agricultural — — — — — Construction and land — — — — — Total real estate loans — — — — — Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ — $ — $ — $ — $ — Totals: Real estate loans $ 3,928 $ 3,260 $ — $ 3,395 $ 53 Consumer and other loans — — — — — Total $ 3,928 $ 3,260 $ — $ 3,395 $ 53
Schedule of past due and nonaccrual loans by portfolio segment	Total past due loans and nonaccrual loans at March 31, 2020: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 4,053 $ 1,503 $ 766 $ 6,322 $ 277,904 $ 284,226 $ 2,687 $ — Multi-family 222 — — 222 1,284 1,506 — — Home equity 9 — 40 49 6,409 6,458 40 — Nonresidential 445 184 — 629 14,042 14,671 758 — Agricultural 320 — — 320 1,205 1,525 320 — Construction and land 27 28 — 55 34,139 34,194 29 — Total real estate loans 5,076 1,715 806 7,597 334,983 342,580 3,834 — Commercial and industrial — — — — 3,738 3,738 — — Consumer and other loans — — — — 6,846 6,846 — — Total $ 5,076 $ 1,715 $ 806 $ 7,597 $ 345,567 $ 353,164 $ 3,834 $ — Total past due and nonaccrual loans by portfolio segment at June 30, 2019: Accruing 30-59 60-89 90 Days Loans Days Days or More Total Total Nonaccrual Past Due 90 Past Due Past Due Past Due Past Due Current Loans Loans Days or More Real estate loans: One-to-four family $ 5,879 $ 1,486 $ 229 $ 7,594 $ 281,483 $ 289,077 $ 2,674 $ — Multi-family 228 — — 228 1,377 1,605 — — Home equity 64 — 40 104 5,087 5,191 40 — Nonresidential 458 — — 458 18,892 19,350 816 — Agricultural — — — — 1,510 1,510 356 — Construction and land 308 31 — 339 33,312 33,651 31 — Total real estate loans 6,937 1,517 269 8,723 341,661 350,384 3,917 — Commercial and industrial — — — — 4,390 4,390 — — Consumer and other loans 8 — — 8 5,306 5,314 — — Total $ 6,945 $ 1,517 $ 269 $ 8,731 $ 351,357 $ 360,088 $ 3,917 $ —
Schedule of total loans by risk grade and portfolio segment	Total loans by risk grade and portfolio segment at March 31, 2020: Pass Pass- Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 272,432 $ 4,285 $ 2,858 $ 4,651 $ — $ 284,226 Multi-family 1,506 — — — — 1,506 Home equity 5,954 400 55 49 — 6,458 Nonresidential 13,485 340 — 846 — 14,671 Agricultural 1,205 — — 320 — 1,525 Construction and land 33,700 423 — 71 — 34,194 Total real estate loans 328,282 5,448 2,913 5,937 — 342,580 Commercial and industrial 3,738 — — — — 3,738 Consumer and other loans 6,846 — — — — 6,846 Total $ 338,866 $ 5,448 $ 2,913 $ 5,937 $ — $ 353,164 Total loans by risk grade and portfolio segment at June 30, 2019: Pass Pass-Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 276,141 $ 5,316 $ 3,217 $ 4,403 $ — $ 289,077 Multi-family 1,605 — — — — 1,605 Home equity 4,733 313 69 76 — 5,191 Nonresidential 17,951 491 — 908 — 19,350 Agricultural 1,154 — — 356 — 1,510 Construction and land 33,130 446 — 75 — 33,651 Total real estate loans 334,714 6,566 3,286 5,818 — 350,384 Commercial and industrial 4,390 — — — — 4,390 Consumer and other loans 5,314 — — — — 5,314 Total $ 344,418 $ 6,566 $ 3,286 $ 5,818 $ — $ 360,088

BORROWINGS (Tables)

BORROWINGS (Tables)	9 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of advances from the Federal Home Loan Bank	At March 31, 2020 and June 30, 2019, advances from the Federal Home Loan Bank were as follows: March 31, 2020 Balance Stated Interest Rate FHLB advances due February 2023 through January 2025 $ 5,000 1.40% - 1.59% Total $ 5,000 June 30, 2019 Balance Stated Interest Rate FHLB advances due September 2019 through December 2019 $ 19,000 2.62% - 2.78% Total $ 19,000
Schedule of maturities of the advances from the Federal Home Loan Bank	Payments over the next five years are as follows: 2023 $ 2,500 2025 $ 2,500

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis at March 31, 2020 and June 30, 2019 are summarized below: Fair Value Measurements March 31, 2020 June 30, 2019 (Level 2) (Level 3) (Level 2) (Level 3) Financial assets: Securities available-for-sale: FHLMC common stock $ 114 $ — $ 212 $ — Certificates of deposit 2,545 — 2,499 — Municipal securities 21,574 — 25,225 — SBA loan pools 15 — 22 — CMOs 11,077 — 14,970 — U.S. Government agency mortgage-backed securities 49,521 — 40,542 — U.S. Government agency bonds 2,039 — 11,959 — Total securities available-for-sale 86,885 — 95,429 — Loan servicing rights — 590 — 868 Total financial assets $ 86,885 $ 590 $ 95,429 $ 868
Schedule of assets measured at fair value on a non-recurring basis	Presented in the table below are assets measured at fair value on a nonrecurring basis using level 3 inputs at March 31, 2020 and June 30, 2019: Fair Value Measurements March 31, June 30, (Level 3) (Level 3) Non-financial assets: Real estate owned, net: One-to-four family $ 136 $ 226 Nonresidential 159 585 Total non-financial assets 295 811 Total assets measured at fair value on a non-recurring basis $ 295 $ 811
Schedule of assets measured at fair value on a recurring basis	The table below presents a reconciliation of all Level 3 assets measured at fair value on a recurring basis using significant unobservable inputs for the three and nine months ended March 31, 2020 and 2019: Fair Value Measurements (Level 3) Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Loan Servicing Rights Loan Servicing Rights Loan Servicing Rights Loan Servicing Rights Balance at beginning of period: $ 781 $ 1,017 $ 868 $ 1,093 Purchases — — — — Unrealized net losses included in net income (191 ) (67 ) (278 ) $ (143 ) Balance at end of period: $ 590 $ 950 $ 590 $ 950
Schedule of valuation methodology and unobservable inputs	The table below presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value on a non-recurring basis at March 31, 2020 and June 30, 2019. Level 3 Quantitative Information March 31, June 30, Valuation Technique Unobservable Inputs Range Fair Value Fair Value Loan servicing rights $ 590 $ 868 Discounted cash flows Discount rate, estimated timing of cash flows 9.00% to 9.75% Real estate owned net: One-to-four family $ 136 $ 226 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20% Nonresidential $ 159 $ 585 Sales comparison approach Adjustment for differences between the comparable sales 0% to 20%
Schedule of carrying amounts and estimated fair values	The estimated fair values of the Company’s remaining on-balance sheet financial instruments at March 31, 2020 and June 30, 2019 are summarized below: March 31, 2020 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 86,885 $ — $ 86,885 $ — $ 86,885 Loans, net (1) 351,868 — — 353,115 353,115 Loans held for sale (2) 1,083 — — 1,083 1,083 Loan servicing rights 590 — — 590 590 Restricted equity securities 1,249 N/A N/A N/A N/A Financial liabilities Deposits $ 406,363 $ 201,353 $ 201,876 $ — $ 403,229 FHLB Advances 5,000 — 5,000 — 5,000 June 30, 2019 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 95,429 $ — $ 95,429 $ — $ 95,429 Loans, net (1) 358,791 — — 358,473 358,473 Loan servicing rights 868 — — 868 868 Restricted equity securities 1,854 N/A N/A N/A N/A Financial liabilities Deposits $ 419,106 $ 196,466 $ 218,985 $ — $ 415,451 FHLB Advances 19,000 — 19,000 — 19,000 (1) Carrying amount of loans is net of unearned income and the allowance. In accordance with the adoption of ASU No. 2016-01, the fair value of loans as of March 31, 2020 and June 30, 2019 was measured using an exit price notion. (2) Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors and result in a Level 3 classification.

EMPLOYEE STOCK OWNERSHIP PLAN (

EMPLOYEE STOCK OWNERSHIP PLAN (Tables)	9 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Schedule of employee stock ownership plan	Shares held by the ESOP at March 31, 2020 and June 30, 2019 were as follows: March 31, June 30, Committed to be released to participants 6,417 11,983 Allocated to participants 141,548 127,257 Unearned 44,736 59,245 Total ESOP shares 192,701 198,485 Fair value of unearned shares $ 851 $ 1,360

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	9 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule of stock option activity	The following table summarizes stock option activity for the nine months ended March 31, 2020: Options Weighted- Average Exercise Price/Share Aggregate Intrinsic (1) Outstanding - June 30, 2019 169,519 $ 14.65 Granted — — Exercised — — Forfeited (5,200 ) 29.33 Outstanding - March 31, 2020 164,319 $ 14.18 $ 796 Fully vested and exercisable at March 31, 2020 148,319 $ 13.08 $ 883 Expected to vest in future periods 16,000 Fully vested and expected to vest - March 31, 2020 164,319 $ 14.18 $ 796 (1) The intrinsic value for stock options is defined as the difference between the current market value and the exercise price. The current market price was based on the closing price of common stock of $19.03 per share on March 31, 2020.
Schedule of non-vested restricted stock activity	The following table summarizes non-vested restricted stock activity for the nine months ended March 31, 2020: March 31, Balance - beginning of year 8,800 Granted — Forfeited — Vested — Balance - end of period 8,800 Weighted average grant date fair value $ 19.77

LOAN SERVICING RIGHTS (Tables)

LOAN SERVICING RIGHTS (Tables)	9 Months Ended
	Mar. 31, 2020
Transfers and Servicing [Abstract]
Schedule of principal balances of mortgage loans serviced	The principal balances of those loans at March 31, 2020 and June 30, 2019 are as follows: March 31, June 30, Mortgage loan portfolio serviced for: FHLMC $ 69,622 $ 83,938
Schedule of activity for loan servicing rights	Activity for loan servicing rights for the three and nine months ended March 31, 2020 and 2019 is as follows: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Loan servicing rights: Beginning of period: $ 781 $ 1,017 $ 868 $ 1,093 Additions — — — — Change in fair value (191 ) (67 ) (278 ) (143 ) End of period: $ 590 $ 950 $ 590 $ 950

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	Supplemental cash flow information for the nine months ended March 31, 2020 and 2019 is as follows: March 31, March 31, Cash paid during the period for: Interest paid $ 3,187 $ 2,480 Income taxes paid $ 140 $ 543 Supplemental noncash disclosures: Transfers from loans to real estate owned $ — $ 273 Change in unrealized gain/loss on securities available-for-sale $ 1,909 $ 2,291

BASIS OF PRESENTATION, RISKS _2

BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES (Details Narrative)	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percentage of ownership in the entity	73.37%

NEW ACCOUNTING STANDARDS (Detai

NEW ACCOUNTING STANDARDS (Details Narrative) $ in Thousands	Jun. 30, 2019USD ($)
Accounting Standards Update 2017-08 [Member]
Effect of adoption of new accounting standard	$ 245

EARNINGS PER SHARE (''EPS'') (D

EARNINGS PER SHARE (''EPS'') (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Earnings per share
Net income	$ 946	$ 952	$ 2,971	$ 2,741
Less: distributed earnings allocated to participating securities	(1)	(2)	(3)	(4)
Less: (undistributed income) dividends in excess of earnings allocated to participating securities			(2)	(3)
Net earnings available to common shareholders	$ 945	$ 950	$ 2,966	$ 2,734
Weighted average common shares outstanding including participating securities	5,705,937	5,759,840	5,721,903	5,765,601
Less: participating securities	(8,800)	(15,355)	(8,800)	(15,355)
Less: average unearned ESOP shares	(51,990)	(71,107)	(54,778)	(73,799)
Weighted average common shares outstanding	5,645,147	5,673,378	5,658,325	5,676,447
Basic earnings per share (in dollars per share)	$ 0.17	$ 0.17	$ 0.52	$ 0.48
Weighted average common shares outstanding	5,645,147	5,673,378	5,658,325	5,676,447
Add: dilutive effects of assumed exercises of stock options	71,002	123,144	67,598	123,526
Average shares and dilutive potential common shares	5,716,149	5,796,522	5,725,923	5,799,973
Diluted earnings per share (in dollars per share)	$ 0.17	$ 0.16	$ 0.52	$ 0.47

EARNINGS PER SHARE (''EPS'') _2

EARNINGS PER SHARE (''EPS'') (Details Narrative) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Antidilutive shares	11,200	22,400	11,200	22,400

SECURITIES AVAILABLE-FOR-SALE_2

SECURITIES AVAILABLE-FOR-SALE (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Available-for-sale:
Amortized Cost	$ 84,383	$ 94,738
Gross Unrealized Gains	2,413	655
Gross Unrealized Losses	(5)	(156)
Change in Fair Value Equity Securities	94	192
Available-for-sale Securities	86,885	95,429
FHLMC Common Stock [Member]
Available-for-sale:
Amortized Cost	20	20
Change in Fair Value Equity Securities	94	192
Available-for-sale Securities	114	212
Certificates of Deposit [Member]
Available-for-sale:
Amortized Cost	2,493	2,493
Gross Unrealized Gains	52	11
Gross Unrealized Losses		(5)
Available-for-sale Securities	2,545	2,499
Municipal Securities [Member]
Available-for-sale:
Amortized Cost	21,102	24,968
Gross Unrealized Gains	476	295
Gross Unrealized Losses	(4)	(38)
Available-for-sale Securities	21,574	25,225
SBA Loan Pools [Member]
Available-for-sale:
Amortized Cost	15	22
Available-for-sale Securities	15	22
Collateralized Mortgage Obligations [Member]
Available-for-sale:
Amortized Cost	10,733	14,889
Gross Unrealized Gains	345	111
Gross Unrealized Losses	(1)	(30)
Available-for-sale Securities	11,077	14,970
US Government Agency Mortgage-Backed Securities [Member]
Available-for-sale:
Amortized Cost	48,007	40,366
Gross Unrealized Gains	1,514	228
Gross Unrealized Losses		(52)
Available-for-sale Securities	49,521	40,542
US Government Agencies Bonds [Member]
Available-for-sale:
Amortized Cost	2,013	11,980
Gross Unrealized Gains	26	10
Gross Unrealized Losses		(31)
Available-for-sale Securities	$ 2,039	$ 11,959

SECURITIES AVAILABLE-FOR-SALE_3

SECURITIES AVAILABLE-FOR-SALE (Details 1) $ in Thousands		Mar. 31, 2020USD ($)Number	Jun. 30, 2019USD ($)Number
Investment Holdings [Line Items]
Less than 12 Months, Fair Value		$ 1,725	$ 11,588
Less than 12 Months, Unrealized Loss		$ (5)	$ (47)
Less than 12 Months, Number in Unrealized Loss | Number	[1]	3	15
12 Months or More, Fair Value			$ 20,020
12 Months or More, Unrealized Loss			$ (109)
12 Months or More, Number in Unrealized Loss | Number	[1]		34
Total, Fair Value		$ 1,725	$ 31,608
Total, Unrealized Loss		$ (5)	$ (156)
Total, Number in Unrealized Loss | Number	[1]	3	49
Municipal Securities [Member]
Investment Holdings [Line Items]
Less than 12 Months, Fair Value		$ 1,149	$ 745
Less than 12 Months, Unrealized Loss		$ (4)	$ (10)
Less than 12 Months, Number in Unrealized Loss | Number	[1]	2	2
12 Months or More, Fair Value			$ 3,750
12 Months or More, Unrealized Loss			$ (28)
12 Months or More, Number in Unrealized Loss | Number	[1]		7
Total, Fair Value		$ 1,149	$ 4,495
Total, Unrealized Loss		$ (4)	$ (38)
Total, Number in Unrealized Loss | Number	[1]	2	9
Collateralized Mortgage Obligations [Member]
Investment Holdings [Line Items]
Less than 12 Months, Fair Value		$ 573
Less than 12 Months, Unrealized Loss		$ (1)
Less than 12 Months, Number in Unrealized Loss | Number	[1]	1
12 Months or More, Fair Value			$ 3,059
12 Months or More, Unrealized Loss			$ (30)
12 Months or More, Number in Unrealized Loss | Number	[1]		7
Total, Fair Value		$ 573	$ 3,059
Total, Unrealized Loss		$ (1)	$ (30)
Total, Number in Unrealized Loss | Number	[1]	1	7
US Government Agency Mortgage-Backed Securities [Member]
Investment Holdings [Line Items]
Less than 12 Months, Fair Value			$ 5,377
Less than 12 Months, Unrealized Loss			$ (9)
Less than 12 Months, Number in Unrealized Loss | Number	[1]		5
12 Months or More, Fair Value			$ 11,198
12 Months or More, Unrealized Loss			$ (43)
12 Months or More, Number in Unrealized Loss | Number	[1]		18
Total, Fair Value			$ 16,575
Total, Unrealized Loss			$ (52)
Total, Number in Unrealized Loss | Number	[1]		23
US Government Agencies Bonds [Member]
Investment Holdings [Line Items]
Less than 12 Months, Fair Value			$ 4,475
Less than 12 Months, Unrealized Loss			$ (23)
Less than 12 Months, Number in Unrealized Loss | Number	[1]		4
12 Months or More, Fair Value			$ 2,013
12 Months or More, Unrealized Loss			$ (8)
12 Months or More, Number in Unrealized Loss | Number	[1]		2
Total, Fair Value			$ 6,488
Total, Unrealized Loss			$ (31)
Total, Number in Unrealized Loss | Number	[1]		6
Certificates of Deposit [Member]
Investment Holdings [Line Items]
Less than 12 Months, Fair Value			$ 991
Less than 12 Months, Unrealized Loss			$ (5)
Less than 12 Months, Number in Unrealized Loss | Number	[1]		4
Total, Fair Value			$ 991
Total, Unrealized Loss			$ (5)
Total, Number in Unrealized Loss | Number	[1]		4
[1]	Actual amounts.

SECURITIES AVAILABLE-FOR-SALE_4

SECURITIES AVAILABLE-FOR-SALE (Details 2) - USD ($) $ in Thousands		Mar. 31, 2020	Jun. 30, 2019
Amortized Cost
Less than one year		$ 251	$ 2,000
Due from one to five years		8,525	11,627
Due after five years to ten years		11,284	18,817
Due after ten years		5,563	7,019
Mortgage-backed securities, CMOs and FHLMC stock	[1]	58,760	55,275
Total available for sale		84,383	94,738
Fair Value
Less than one year		250	1,994
Due from one to five years		8,697	11,663
Due after five years to ten years		11,538	18,955
Due after ten years		5,688	7,093
Mortgage-backed securities, CMOs and FHLMC stock	[1]	60,712	55,724
Total available for sale		$ 86,885	$ 95,429
[1]	Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty. FHLMC common stock is not scheduled because it has no contractual maturity date.

SECURITIES AVAILABLE-FOR-SALE_5

SECURITIES AVAILABLE-FOR-SALE (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Available-for-sale:
Proceeds	$ 9,494	$ 11,035	$ 14,762	$ 12,228
Gross gains	122	10	137	13
Gross losses	$ (9)	$ (61)	$ (12)	$ (63)

SECURITIES AVAILABLE-FOR-SALE_6

SECURITIES AVAILABLE-FOR-SALE (Details Narrative) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Securities pledged to secure public deposits	$ 14,404		$ 26,029
Percentage holdings of securities greater than shareholders' equity	10.00%		10.00%
Tax provision (benefit) related to net realized gain (loss)	$ 26	$ (11)

LOANS (Details)

LOANS (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Total loans	$ 353,164	$ 360,088
Consumer and Other Loans [Member]
Total loans	6,846	5,314
Real Estate Loans [Member]
Total loans	342,580	350,384
Real Estate Loans [Member] | One to Four Family [Member]
Total loans	284,226	289,077
Real Estate Loans [Member] | Multi Family [Member]
Total loans	1,506	1,605
Real Estate Loans [Member] | Home Equity [Member]
Total loans	6,458	5,191
Real Estate Loans [Member] | Nonresidential [Member]
Total loans	14,671	19,350
Real Estate Loans [Member] | Agricultural [Member]
Total loans	1,525	1,510
Real Estate Loans [Member] | Construction and Land [Member]
Total loans	34,194	33,651
Commercial and Industrial [Member]
Total loans	$ 3,738	$ 4,390

LOANS (Details 1)

LOANS (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Change in allowance for loan losses during the period
Beginning Balance	$ 1,296	$ 1,228	$ 1,297	$ 1,097
Provision		85		234
Charge-offs			(1)	(18)
Ending Balance	1,296	1,313	1,296	1,313
Real Estate Loans [Member]
Change in allowance for loan losses during the period
Beginning Balance	1,205	1,207	1,207	1,092
Provision	5	9	3	142
Charge-offs				(18)
Ending Balance	1,210	1,216	1,210	1,216
Real Estate Loans [Member] | One to Four Family [Member]
Change in allowance for loan losses during the period
Beginning Balance	993	986	995	939
Provision	6	18	4	83
Charge-offs				(18)
Ending Balance	999	1,004	999	1,004
Real Estate Loans [Member] | Multi Family [Member]
Change in allowance for loan losses during the period
Beginning Balance	4	4	4	4
Ending Balance	4	4	4	4
Real Estate Loans [Member] | Home Equity [Member]
Change in allowance for loan losses during the period
Beginning Balance	33	15	24	8
Provision	3	5	12	12
Ending Balance	36	20	36	20
Real Estate Loans [Member] | Nonresidential [Member]
Change in allowance for loan losses during the period
Beginning Balance	77	104	87	66
Provision	(14)	(11)	(24)	27
Ending Balance	63	93	63	93
Real Estate Loans [Member] | Agricultural [Member]
Change in allowance for loan losses during the period
Beginning Balance	4	1	3	1
Provision			1
Ending Balance	4	1	4	1
Real Estate Loans [Member] | Construction and Land [Member]
Change in allowance for loan losses during the period
Beginning Balance	94	97	94	74
Provision	10	(3)	10	20
Ending Balance	104	94	104	94
Commercial and Industrial [Member]
Change in allowance for loan losses during the period
Beginning Balance	66	18	67	4
Provision	(7)	55	(8)	69
Ending Balance	59	73	59	73
Consumer and Other Loans [Member]
Change in allowance for loan losses during the period
Beginning Balance	25	3	23	1
Provision	2	21	5	23
Charge-offs			(1)
Ending Balance	$ 27	$ 24	$ 27	$ 24

LOANS (Details 2)

LOANS (Details 2) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Ending Allowance on Loans:
Collectively Evaluated for Impairment	$ 1,296	$ 1,297
Loans:
Individually Evaluated for Impairment	3,368	3,260
Collectively Evaluated for Impairment	349,796	356,828
Real Estate Loans [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	1,210	1,207
Loans:
Individually Evaluated for Impairment	3,368	3,260
Collectively Evaluated for Impairment	339,212	347,124
Real Estate Loans [Member] | One to Four Family [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	999	995
Loans:
Individually Evaluated for Impairment	2,473	2,291
Collectively Evaluated for Impairment	281,753	286,786
Real Estate Loans [Member] | Multi Family [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	4	4
Loans:
Collectively Evaluated for Impairment	1,506	1,605
Real Estate Loans [Member] | Home Equity [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	36	24
Loans:
Collectively Evaluated for Impairment	6,458	5,191
Real Estate Loans [Member] | Nonresidential [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	63	87
Loans:
Individually Evaluated for Impairment	575	613
Collectively Evaluated for Impairment	14,096	18,737
Real Estate Loans [Member] | Agricultural [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	4	3
Loans:
Individually Evaluated for Impairment	320	356
Collectively Evaluated for Impairment	1,205	1,154
Real Estate Loans [Member] | Construction and Land [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	104	94
Loans:
Collectively Evaluated for Impairment	34,194	33,651
Commercial and Industrial [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	59	67
Loans:
Collectively Evaluated for Impairment	3,738	4,390
Consumer and Other Loans [Member]
Ending Allowance on Loans:
Collectively Evaluated for Impairment	27	23
Loans:
Collectively Evaluated for Impairment	$ 6,846	$ 5,314

LOANS (Details 3)

LOANS (Details 3) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2020	Jun. 30, 2019
With no recorded allowance:
Unpaid Principal Balance	$ 4,030	$ 3,928
Recorded Investment	3,368	3,260
Average Recorded Investment	3,314	3,395
Interest Income Recognized	46	53
Total:
Unpaid Principal Balance	4,030	3,928
Recorded Investment	3,368	3,260
Average Recorded Investment	3,314	3,395
Interest Income Recognized	46	53
Real Estate Loans [Member]
With no recorded allowance:
Unpaid Principal Balance	4,030	3,928
Recorded Investment	3,368	3,260
Average Recorded Investment	3,314	3,395
Interest Income Recognized	46	53
Total:
Unpaid Principal Balance	4,030	3,928
Recorded Investment	3,368	3,260
Average Recorded Investment	3,314	3,395
Interest Income Recognized	46	53
Real Estate Loans [Member] | One to Four Family [Member]
With no recorded allowance:
Unpaid Principal Balance	2,553	2,375
Recorded Investment	2,473	2,291
Average Recorded Investment	2,382	2,363
Interest Income Recognized	46	53
Real Estate Loans [Member] | Nonresidential [Member]
With no recorded allowance:
Unpaid Principal Balance	608	648
Recorded Investment	575	613
Average Recorded Investment	594	642
Real Estate Loans [Member] | Agricultural [Member]
With no recorded allowance:
Unpaid Principal Balance	869	905
Recorded Investment	320	356
Average Recorded Investment	$ 338	$ 390

LOANS (Details 4)

LOANS (Details 4) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Financing Receivable, Past Due [Line Items]
Total Past Due	$ 7,597	$ 8,731
Current	345,567	351,357
Total loans	353,164	360,088
Nonaccrual loans	3,834	3,917
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	5,076	6,945
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,715	1,517
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	806	269
Real Estate Loans [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	7,597	8,723
Current	334,983	341,661
Total loans	342,580	350,384
Nonaccrual loans	3,834	3,917
Real Estate Loans [Member] | One to Four Family [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	6,322	7,594
Current	277,904	281,483
Total loans	284,226	289,077
Nonaccrual loans	2,687	2,674
Real Estate Loans [Member] | Multi Family [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	222	228
Current	1,284	1,377
Total loans	1,506	1,605
Real Estate Loans [Member] | Home Equity [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	49	104
Current	6,409	5,087
Total loans	6,458	5,191
Nonaccrual loans	40	40
Real Estate Loans [Member] | Nonresidential [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	629	458
Current	14,042	18,892
Total loans	14,671	19,350
Nonaccrual loans	758	816
Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	320
Current	1,205	1,510
Total loans	1,525	1,510
Nonaccrual loans	320	356
Real Estate Loans [Member] | Construction and Land [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	55	339
Current	34,139	33,312
Total loans	34,194	33,651
Nonaccrual loans	29	31
Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	5,076	6,937
Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | One to Four Family [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	4,053	5,879
Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Multi Family [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	222	228
Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Home Equity [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	9	64
Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Nonresidential [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	445	458
Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Agricultural [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	320
Real Estate Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | Construction and Land [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	27	308
Real Estate Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,715	1,517
Real Estate Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | One to Four Family [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	1,503	1,486
Real Estate Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Nonresidential [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	184
Real Estate Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | Construction and Land [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	28	31
Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	806	269
Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | One to Four Family [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	766	229
Real Estate Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Home Equity [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due	40	40
Commercial and Industrial [Member]
Financing Receivable, Past Due [Line Items]
Current	3,738	4,390
Total loans	3,738	4,390
Consumer and Other Loans [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due		8
Current	6,846	5,306
Total loans	$ 6,846	5,314
Consumer and Other Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total Past Due		$ 8

LOANS (Details 5)

LOANS (Details 5) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	$ 353,164	$ 360,088
Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	338,866	344,418
Pass Watch [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	5,448	6,566
Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	2,913	3,286
Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	5,937	5,818
Real Estate Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	342,580	350,384
Real Estate Loans [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	328,282	334,714
Real Estate Loans [Member] | Pass Watch [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	5,448	6,566
Real Estate Loans [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	2,913	3,286
Real Estate Loans [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	5,937	5,818
Real Estate Loans [Member] | One to Four Family [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	284,226	289,077
Real Estate Loans [Member] | One to Four Family [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	272,432	276,141
Real Estate Loans [Member] | One to Four Family [Member] | Pass Watch [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	4,285	5,316
Real Estate Loans [Member] | One to Four Family [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	2,858	3,217
Real Estate Loans [Member] | One to Four Family [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	4,651	4,403
Real Estate Loans [Member] | Multi Family [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,506	1,605
Real Estate Loans [Member] | Multi Family [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,506	1,605
Real Estate Loans [Member] | Home Equity [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	6,458	5,191
Real Estate Loans [Member] | Home Equity [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	5,954	4,733
Real Estate Loans [Member] | Home Equity [Member] | Pass Watch [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	400	313
Real Estate Loans [Member] | Home Equity [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	55	69
Real Estate Loans [Member] | Home Equity [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	49	76
Real Estate Loans [Member] | Nonresidential [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	14,671	19,350
Real Estate Loans [Member] | Nonresidential [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	13,485	17,951
Real Estate Loans [Member] | Nonresidential [Member] | Pass Watch [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	340	491
Real Estate Loans [Member] | Nonresidential [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	846	908
Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,525	1,510
Real Estate Loans [Member] | Agricultural [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,205	1,154
Real Estate Loans [Member] | Agricultural [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	320	356
Real Estate Loans [Member] | Construction and Land [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	34,194	33,651
Real Estate Loans [Member] | Construction and Land [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	33,700	33,130
Real Estate Loans [Member] | Construction and Land [Member] | Pass Watch [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	423	446
Real Estate Loans [Member] | Construction and Land [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	71	75
Commercial and Industrial [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	3,738	4,390
Commercial and Industrial [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	3,738	4,390
Consumer and Other Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	6,846	5,314
Consumer and Other Loans [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	$ 6,846	$ 5,314

LOANS (Details Narrative)

LOANS (Details Narrative) $ in Thousands	Mar. 31, 2020USD ($)Number	Jun. 30, 2019USD ($)Number
Financing Receivable, Past Due [Line Items]
Recorded investment in troubled debt restructured loans | $	$ 2,400	$ 2,675
Troubled debt restructured loans individually evaluated for impairment | $	$ 2,133	$ 2,291
Real Estate Loans [Member] | Agricultural [Member]
Financing Receivable, Past Due [Line Items]
Number of troubled debt restructured loans	1	1
Real Estate Loans [Member] | One to Four Family [Member]
Financing Receivable, Past Due [Line Items]
Number of troubled debt restructured loans	4	4
Real Estate Loans [Member] | Nonresidential [Member]
Financing Receivable, Past Due [Line Items]
Number of troubled debt restructured loans	2	2

LOANS (Details Narrative 1)

LOANS (Details Narrative 1) $ in Thousands	9 Months Ended
	Mar. 31, 2020USD ($)Number
Financing Receivable, Credit Quality Indicator [Line Items]
Period past due for non-accrual status	90 days
Period past due for loans still on accrual basis	90 days
One to Four Family [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Formal foreclosure proceedings | $	$ 109
One to Four Family [Member] | Owner Occupied Homes [Member] | Minimum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratios if the borrower obtains mortgage insurance or provides readily marketable collateral (as a percent)	80.00%
One to Four Family [Member] | Owner Occupied Homes [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratios (as a percent)	80.00%
One to Four Family [Member] | Non Owner Occupied Homes [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratios (as a percent)	80.00%
One to Four Family [Member] | Manufactured or Modular Homes [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratios (as a percent)	75.00%
Construction Loans [Member] | Non Residential Properties [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Number of loans a borrower is permitted to have at a time	2
Loan-to-value ratios (as a percent)	85.00%
Term of loans	8 months
Agricultural [Member] | Minimum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Term of loans	5 years
Agricultural [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratios (as a percent)	75.00%
Term of loans	20 years
Amortization period	20 years
Home Equity [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratios (as a percent)	80.00%
Term of loans	10 years
Amortization period	20 years
Nonresidential [Member] | Minimum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Term of loans	5 years
Nonresidential [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratios (as a percent)	75.00%
Term of loans	20 years
Amortization period	20 years
Construction and Land [Member] | Owner Occupied Homes [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan-to-value ratios (as a percent)	80.00%
Term of loans	12 months
Multi Family [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Amortization period	30 years
Multi Family [Member] | Minimum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Number of units in properties used to secure loans	5
Multi Family [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Term of loans	5 years
Loans made as a percentage of lesser of appraised value or purchase price	75.00%
Consumer Loans Unsecured [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Term of loans	18 months
Consumer Loans Secured by Vehicles [Member] | Minimum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Term of loans	18 months
Consumer Loans Secured by Vehicles [Member] | Maximum [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Term of loans	60 months

BORROWINGS (Details)

BORROWINGS (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
FHLB Advances	$ 5,000	$ 19,000
Stated percentage of Federal Home Loan Bank Advances	1.50%	2.75%
Minimum [Member]
Stated percentage of Federal Home Loan Bank Advances	1.40%	2.62%
Maximum [Member]
Stated percentage of Federal Home Loan Bank Advances	1.59%	2.78%

BORROWINGS (Details 1)

BORROWINGS (Details 1) $ in Thousands	Mar. 31, 2020USD ($)
Debt Disclosure [Abstract]
2023	$ 2,500
2025	$ 2,500

BORROWINGS (Details Narrative)

BORROWINGS (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Stated percentage of Federal Home Loan Bank Advances	1.50%	2.75%
Federal Home Loan Bank with remaining availability	$ 126,142
Federal Home Loan Bank Advances [Member]
FHLB advances collateralized by investment securities	$ 12,499	$ 22,632

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018
Financial assets:
Securities available-for-sale	$ 86,885		$ 95,429
Loan servicing rights	590	$ 781	868	$ 950	$ 1,017	$ 1,093
FHLMC Common Stock [Member]
Financial assets:
Securities available-for-sale	114		212
Certificates of Deposit [Member]
Financial assets:
Securities available-for-sale	2,545		2,499
Municipal Securities [Member]
Financial assets:
Securities available-for-sale	21,574		25,225
SBA Loan Pools [Member]
Financial assets:
Securities available-for-sale	15		22
Collateralized Mortgage Obligations [Member]
Financial assets:
Securities available-for-sale	11,077		14,970
US Government Agency Mortgage-Backed Securities [Member]
Financial assets:
Securities available-for-sale	49,521		40,542
US Government Agencies Bonds [Member]
Financial assets:
Securities available-for-sale	2,039		11,959
Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Financial assets:
Loan servicing rights	590		868
Total financial assets	590		868
Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Financial assets:
Total financial assets	295		811
Level 2 [Member]
Financial assets:
Securities available-for-sale	86,885		95,429
Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Financial assets:
Securities available-for-sale	86,885		95,429
Total financial assets	86,885		95,429
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | FHLMC Common Stock [Member]
Financial assets:
Securities available-for-sale	114		212
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Certificates of Deposit [Member]
Financial assets:
Securities available-for-sale	2,545		2,499
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Municipal Securities [Member]
Financial assets:
Securities available-for-sale	21,574		25,225
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | SBA Loan Pools [Member]
Financial assets:
Securities available-for-sale	15		22
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | Collateralized Mortgage Obligations [Member]
Financial assets:
Securities available-for-sale	11,077		14,970
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agency Mortgage-Backed Securities [Member]
Financial assets:
Securities available-for-sale	49,521		40,542
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | US Government Agencies Bonds [Member]
Financial assets:
Securities available-for-sale	$ 2,039		$ 11,959

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 1) - Level 3 [Member] - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total non-financial assets	$ 295	$ 811
Total assets measured at fair value on a non-recurring basis	295	811
One to Four Family [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate owned, net	136	226
Nonresidential [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate owned, net	$ 159	$ 585

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) - Level 3 [Member] - Fair Value, Measurements, Recurring [Member] - Loan Servicing Rights [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Balance at beginning of period:	$ 781	$ 1,017	$ 868	$ 1,093
Unrealized net losses included in net income	(191)	(67)	(278)	(143)
Balance at end of period:	$ 590	$ 950	$ 590	$ 950

FAIR VALUE OF FINANCIAL INSTR_6

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) - Level 3 [Member] $ in Thousands	Mar. 31, 2020USD ($)Number	Jun. 30, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan servicing rights | $	$ 590	$ 868
Fair Value, Measurements, Nonrecurring [Member] | Discounted Cash Flows [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan servicing rights | $	$ 590	868
Fair Value, Measurements, Nonrecurring [Member] | Discounted Cash Flows [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan servicing rights, measurement input	0.0900
Fair Value, Measurements, Nonrecurring [Member] | Discounted Cash Flows [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan servicing rights, measurement input	0.0975
Fair Value, Measurements, Nonrecurring [Member] | Discounted Cash Flows [Member] | Nonresidential [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate owned, measurement input | Number	0
Fair Value, Measurements, Nonrecurring [Member] | Discounted Cash Flows [Member] | Nonresidential [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate owned, measurement input | Number	0.20
Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | One to Four Family [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate owned | $	$ 136	226
Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | One to Four Family [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate owned, measurement input | Number	0
Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | One to Four Family [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate owned, measurement input | Number	0.20
Fair Value, Measurements, Nonrecurring [Member] | Market Approach Valuation Technique [Member] | Nonresidential [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate owned | $	$ 159	$ 585

FAIR VALUE OF FINANCIAL INSTR_7

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) - USD ($) $ in Thousands		Mar. 31, 2020	Jun. 30, 2019
Financial assets
Securities available-for-sale		$ 86,885	$ 95,429
Loans held for sale		1,083
Level 1 [Member]
Financial liabilities
Deposits		201,353	196,466
Level 2 [Member]
Financial assets
Securities available-for-sale		86,885	95,429
Financial liabilities
Deposits		201,876	218,985
FHLB Advances		5,000	19,000
Level 3 [Member]
Financial assets
Loans, net	[1]	353,115	358,473
Loans held for sale	[2]	1,083
Loan servicing rights		590	868
Carrying Amount [Member]
Financial assets
Securities available-for-sale		86,885	95,429
Loans, net	[1]	351,868	358,791
Loans held for sale	[2]	1,083
Loan servicing rights		590	868
Restricted equity securities		1,249	1,854
Financial liabilities
Deposits		406,363	419,106
FHLB Advances		5,000	19,000
Total Fair Value [Member]
Financial assets
Securities available-for-sale		86,885	95,429
Loans, net	[1]	353,115	358,473
Loans held for sale	[2]	1,083
Loan servicing rights		590	868
Financial liabilities
Deposits		403,229	415,451
FHLB Advances		$ 5,000	$ 19,000
[1]	Carrying amount of loans is net of unearned income and the allowance. In accordance with the adoption of ASU No. 2016-01, the fair value of loans as of March 31, 2020 and June 30, 2019 was measured using an exit price notion.
[2]	Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors and result in a Level 3 classification.

FAIR VALUE OF FINANCIAL INSTR_8

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Carrying value of real estate owned	$ 295	$ 811
Real estate owned, valuation allowance	$ 89	$ 38

EMPLOYEE STOCK OWNERSHIP PLAN_2

EMPLOYEE STOCK OWNERSHIP PLAN (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Shares held by the ESOP
Committed to be released to participants	6,417	11,983
Allocated to participants	141,548	127,257
Unearned	44,736	59,245
Total ESOP shares	192,701	198,485
Fair value of unearned shares	$ 851	$ 1,360

EMPLOYEE STOCK OWNERSHIP PLAN_3

EMPLOYEE STOCK OWNERSHIP PLAN (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2011
Share-based Payment Arrangement [Abstract]
Employee stock ownership plan, employer loan for shares (in shares)					248,842
Common stock share price (in dollars per share)	$ 19.03		$ 19.03		$ 10
ESOP compensation expense	$ 93	$ 98	$ 301	$ 323

STOCK BASED COMPENSATION (Detai

STOCK BASED COMPENSATION (Details) - Employee and Directors Stock Options [Member] $ / shares in Units, $ in Thousands	9 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
Options
Outstanding - June 30, 2019 (in shares)	169,519
Forfeited (in shares)	(5,200)
Outstanding - March 31, 2020 (in shares)	164,319
Fully vested and exercisable at March 31, 2020 (in shares)	148,319
Expected to vest in future periods (in shares)	16,000
Fully vested and expected to vest - March 31, 2020 (in shares)	164,319
Weighted-Average Exercise Price/Share
Outstanding - June 30, 2019 (in dollars per share) | $ / shares	$ 14.65
Forfeited (in dollars per share) | $ / shares	29.33
Outstanding - March 31, 2020 (in dollars per share) | $ / shares	14.18
Fully vested and exercisable at March 31, 2020 (in dollars per share) | $ / shares	13.08
Fully vested and expected to vest - March 31, 2020 (in dollars per share) | $ / shares	$ 14.18
Aggregate Intrinsic Value
Outstanding - March 31, 2020 | $	$ 796	[1]
Fully vested and exercisable at March 31, 2020 | $	883	[1]
Fully vested and expected to vest - March 31, 2020 | $	$ 796	[1]
[1]	The intrinsic value for stock options is defined as the difference between the current market value and the exercise price. The current market price was based on the closing price of common stock of $19.03 per share on March 31, 2020.

STOCK BASED COMPENSATION (Det_2

STOCK BASED COMPENSATION (Details 1) - Restricted Stock [Member]	9 Months Ended
	Mar. 31, 2020$ / sharesshares
Non-vested stock activity
Balance - beginning of year (in shares)	8,800
Granted (in shares)
Forfeited (in shares)
Vested (in shares)
Balance - end of period (in shares)	8,800
Weighted average grant date fair value (in dollars per share) | $ / shares	$ 19.77

STOCK BASED COMPENSATION (Det_3

STOCK BASED COMPENSATION (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Apr. 05, 2012	Jun. 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Closing price of common stock (in dollars per share)	$ 19.03		$ 19.03			$ 10
Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)					435,472
Employee and Directors Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)					311,052
Options earned (in shares)			3,681	11,873
Stock-based compensation expense	$ 5	$ 10	$ 15	$ 31
Total unrecognized compensation cost related to stock options	61		$ 61
Expected period for recognition			3 years 3 months 18 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)					124,420
Stock-based compensation expense	15	$ 24	$ 44	$ 75
Unrecognized compensation expense for nonvested restricted stock awards	$ 104		$ 104
Expected period for recognition			2 years

LOAN SERVICING RIGHTS (Details)

LOAN SERVICING RIGHTS (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Jun. 30, 2019
Transfers and Servicing [Abstract]
Mortgage loan portfolio serviced for: FHLMC	$ 69,622	$ 83,938

LOAN SERVICING RIGHTS (Details

LOAN SERVICING RIGHTS (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Loan servicing rights:
Beginning of period:	$ 781	$ 1,017	$ 868	$ 1,093
Change in fair value	(191)	(67)	(278)	(143)
End of period:	$ 590	$ 950	$ 590	$ 950

LOAN SERVICING RIGHTS (Detail_2

LOAN SERVICING RIGHTS (Details Narrative) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Jun. 30, 2019
Servicing Assets at Fair Value [Line Items]
Custodial escrow balances	$ 558		$ 771
Discount rate	9.00%	9.75%
Weighted average default rate	0.26%	0.37%
Minimum [Member]
Servicing Assets at Fair Value [Line Items]
Prepayment speed assumption	7.43%	5.10%
Maximum [Member]
Servicing Assets at Fair Value [Line Items]
Prepayment speed assumption	30.79%	13.60%

SUPPLEMENTAL CASH FLOW INFORM_3

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash paid during the period for:
Interest paid	$ 3,187	$ 2,480
Income taxes paid	140	543
Supplemental noncash disclosures:
Transfers from loans to real estate owned		273
Change in unrealized gain/loss on securities available-for-sale	$ 1,909	$ 2,291

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - $ / shares	Apr. 23, 2020	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Dividends declared per share (in dollars per share)		$ 0.10	$ 0.30	$ 0.30	$ 0.30
Subsequent Event [Member]
Dividends declared per share (in dollars per share)	$ 0.10
Dividends payable, date declared	Apr. 23, 2020
Dividends payable, date of record	May 7, 2020
Dividends payable, date paid	May 21, 2020