Oconee Federal Financial (OFED) 10-Q 12 May 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2023	May 05, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--06-30
Entity File Number	001-35033
Entity Registrant Name	Oconee Federal Financial Corp.
Entity Central Index Key	0001501078
Entity Tax Identification Number	32-0330122
Entity Incorporation, State or Country Code	SC
Entity Address, Address Line One	201 East North Second Street
Entity Address, City or Town	Seneca
Entity Address, State or Province	SC
Entity Address, Postal Zip Code	29678
City Area Code	(864)
Local Phone Number	882-2765
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	OFED
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		5,609,268

CONSOLIDATED BALANCE SHEETS (un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
ASSETS
Cash and due from banks	$ 6,174	$ 2,327
Interest-earning deposits	1,392	7,406
Fed funds sold	102
Total cash and cash equivalents	7,668	9,733
Securities available-for-sale	138,013	151,299
Loans	401,727	345,112
Allowance for loan losses	(1,489)	(1,339)
Net loans	400,238	343,773
Loans held for sale, at fair value		152
Premises and equipment, net	8,272	8,579
Accrued interest receivable
Loans	1,083	944
Investments	363	468
Restricted equity securities, at cost	2,651	1,189
Bank owned life insurance	20,754	20,398
Goodwill	2,593	2,593
Core deposit intangible	35	74
Loan servicing rights	386	345
Deferred tax assets	5,546	4,678
Other assets	544	567
Total assets	588,146	544,792
Deposits
Noninterest - bearing	56,803	60,697
Interest - bearing	414,152	398,985
Total deposits	470,955	459,682
Federal Home Loan Bank advances	42,000	9,000
Accrued interest payable and other liabilities	1,584	853
Total liabilities	514,539	469,535
SHAREHOLDERS’ EQUITY
Common stock, $0.01 par value, 100,000,000 shares authorized; 6,606,648 and 6,605,109 shares outstanding, respectively	66	66
Treasury stock, at par, 997,380 and 997,380 shares, respectively	(10)	(10)
Additional paid-in capital	6,105	6,055
Retained earnings	84,173	82,790
Accumulated other comprehensive loss	(16,727)	(13,588)
Unearned ESOP shares		(56)
Total shareholders’ equity	73,607	75,257
Total liabilities and shareholders’ equity	$ 588,146	$ 544,792

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Mar. 31, 2023	Jun. 30, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	6,606,648	6,605,109
Treasury stock, shares	997,380	997,380

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME/(LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Interest and dividend income:
Loans, including fees	$ 4,069	$ 3,392	$ 11,521	$ 10,560
Securities, taxable	762	543	2,290	1,336
Securities, tax-exempt	38	86	117	257
Other interest-earning assets	81	7	132	38
Total interest income	4,950	4,028	14,060	12,191
Interest expense:
Deposits	1,184	228	1,805	802
Other borrowings	372	19	685	61
Total interest expense	1,556	247	2,490	863
Net interest income	3,394	3,781	11,570	11,328
Provision for loan losses	50		150
Net interest income after provision for loan losses	3,344	3,781	11,420	11,328
Noninterest income:
Service charges on deposit accounts	106	101	329	304
Income on bank owned life insurance	127	121	356	348
Mortgage servicing income	22	27	66	85
Gain on sale of mortgage loans		33	12	182
ATM & debit card income	116	106	341	329
Change in fair value of equity securities, net	4		(1)	(49)
Loss on sale of securities, net			(84)
Gain on payoff of purchase credit impaired loans	51	70	240	70
Other	7	6	15	11
Total noninterest income	433	464	1,274	1,280
Noninterest expense:
Salaries and employee benefits	1,730	1,689	4,980	5,101
Occupancy and equipment	460	468	1,427	1,443
Data processing	297	266	836	768
ATM & debit card expense	101	86	260	256
Professional and supervisory fees	121	113	355	349
Office expense	42	39	156	131
Advertising	59	61	190	196
FDIC deposit insurance	38	36	108	105
Foreclosed assets, net	(37)		(36)	(1)
Change in loan servicing asset	(22)	(42)	(41)	(39)
Other	191	181	587	579
Total noninterest expense	2,980	2,897	8,822	8,888
Income before income taxes	797	1,348	3,872	3,720
Income tax expense	169	304	809	669
Net income	628	1,044	3,063	3,051
Other comprehensive income/(loss)
Unrealized gains/(losses) on securities available-for-sale	2,378	(9,871)	(4,056)	(11,715)
Tax effect	(501)	2,073	851	2,460
Reclassification adjustment for losses realized in net income			84
Tax effect			(18)
Total other comprehensive income/(loss)	1,877	(7,798)	(3,139)	(9,255)
Comprehensive income/(loss)	$ 2,505	$ (6,754)	$ (76)	$ (6,204)
Basic net income per share: (Note 3)	$ 0.11	$ 0.19	$ 0.55	$ 0.55
Diluted net income per share: (Note 3)	0.11	0.19	0.55	0.55
Dividends declared per share:	$ 0.10	$ 0.10	$ 0.30	$ 0.30

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands		Common Stock [Member]	Treasury Stock, Common [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Unearned ESOP Shares [Member]	Total
Beginning balance, value at Jun. 30, 2021		$ 66	$ (10)	$ 6,400	$ 80,915	$ 941	$ (212)	$ 88,100
Net income					3,051			3,051
Other comprehensive loss						(9,255)		(9,255)
Purchase of shares of treasury stock	[1]			(598)				(598)
Stock-based compensation expense				83				83
Dividend paid on unallocated shares-ESOP	[2]			12
Dividends	[2]				(1,663)			(1,651)
ESOP shares earned				161			129	290
Ending balance, value at Mar. 31, 2022		66	(10)	6,058	82,303	(8,314)	(83)	80,020
Beginning balance, value at Dec. 31, 2021		66	(10)	6,410	81,816	(516)	(109)	87,657
Net income					1,044			1,044
Other comprehensive loss						(7,798)		(7,798)
Purchase of shares of treasury stock	[3]			(410)				(410)
Stock-based compensation expense				22				22
Dividend paid on unallocated shares-ESOP				12
Dividends					(557)			(545)
ESOP shares earned				24			26	50
Ending balance, value at Mar. 31, 2022		66	(10)	6,058	82,303	(8,314)	(83)	80,020
Beginning balance, value at Jun. 30, 2022		66	(10)	6,055	82,790	(13,588)	(56)	75,257
Net income					3,063			3,063
Other comprehensive loss						(3,139)		(3,139)
Stock-based compensation expense				59				59
Dividend paid on unallocated shares-ESOP	[4]			2
Dividends	[4]				(1,680)			(1,678)
ESOP shares earned				(11)			56	45
Ending balance, value at Mar. 31, 2023		66	(10)	6,105	84,173	(16,727)		73,607
Beginning balance, value at Dec. 31, 2022		66	(10)	6,087	84,105	(18,604)		71,644
Net income					628			628
Other comprehensive loss						1,877		1,877
Stock-based compensation expense				18				18
Dividends					(560)			(560)
Ending balance, value at Mar. 31, 2023		$ 66	$ (10)	$ 6,105	$ 84,173	$ (16,727)		$ 73,607
[1]The weighted average cost of treasury shares purchased during the nine months ended March 31, 2022 was $ 23.39 75 6,900 63 6,400 12 500 23.17 113 10,700 110 10,600 3 100

CONSOLIDATED STATEMENTS OF ST_2

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Purchase of treasury stock (in shares)	16,582		24,472
Weighted average cost of treasury shares	$ 23.17		$ 23.39
Cash dividends paid		$ 113	$ 75
Additional shares under ESOP debt		10,700	6,900
Amount of dividend paid on allocated shares		$ 110	$ 63
Number of share allocated for dividend		10,600	6,400
Amount of dividend paid on unallocated shares		$ 3	$ 12
Number of share allocated for additional compensation expense		100	500

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash Flows From Operating Activities
Net income	$ 3,063	$ 3,051
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	150
Depreciation and amortization, net	738	1,345
Net amortization/(accretion) of purchase accounting adjustments	104	(83)
Deferred income tax benefit	(119)	(51)
Net gain on sale of real estate owned	(39)
Change in loan servicing asset	(41)	(39)
Net loss on sales of securities	84
Mortgage loans originated for sale	(859)	(8,770)
Mortgage loans sold	1,023	9,116
Gain on sales of mortgage loans	(12)	(182)
Change in fair value of equity securities	1	49
Increase in cash surrender value of bank owned life insurance	(356)	(348)
Gain on payoff of purchased credit impaired loans	(240)	(70)
ESOP shares earned	56	290
Stock based compensation expense	59	83
Net change in operating assets and liabilities:
Accrued interest receivable and other assets	(22)	178
Accrued interest payable and other liabilities	731	114
Net cash provided by operating activities	4,321	4,683
Cash Flows From Investing Activities
Purchases of premises and equipment	(102)	(145)
Purchases of securities available-for-sale	(11,150)	(53,282)
Proceeds from maturities, paydowns and calls of securities available-for-sale	9,124	23,807
Proceeds from sales of securities available-for-sale	11,049
Sales of restricted equity securities	851	375
Purchases of restricted equity securities	(2,313)	(6)
Proceeds from sale of real estate owned	145
Loan originations and repayments, net	(56,585)	3,120
Net cash used in investing activities	(48,981)	(26,131)
Cash Flows from Financing Activities
Net change in deposits	11,273	14,518
Proceeds from notes payable to FHLB	53,500
Repayment of notes payable to FHLB	(20,500)	(10,000)
Dividends paid	(1,678)	(1,651)
Purchase of treasury stock		(598)
Net cash provided by financing activities	42,595	2,269
Change in cash and cash equivalents	(2,065)	(19,179)
Cash and cash equivalents, beginning of period	9,733	30,649
Cash and cash equivalents, end of period	$ 7,668	$ 11,470

BASIS OF PRESENTATION, RISKS AN

BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES	9 Months Ended
	Mar. 31, 2023
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 ( 74.24 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, 2023 and June 30, 2022 and the results of operations and cash flows for the interim periods ended March 31, 2023 and 2022. All interim amounts are unaudited, 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, 2023 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, 2022. 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.

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	9 Months Ended
	Mar. 31, 2023
Accounting Changes and Error Corrections [Abstract]
NEW ACCOUNTING STANDARDS	(2) NEW ACCOUNTING STANDARDS Accounting Standards Update (“ASU”) 2023-01, “Leases (Topic 842): Common Control Arrangements”. Issued in March 2023, the FASB amended the Leases topic in the Accounting Standards Codification to provide a practical expedient for private companies and not-for-profit entities that are not conduit bond obligors to use the written terms and conditions of a common control arrangement to determine whether a lease exists and, if so, the classification of and accounting for that lease. The amendments also change the guidance for public and private companies to require that leasehold improvements be amortized over the useful life of those improvements to the common control group regardless of the lease term. The amendments are effective for fiscal years beginning after December 15, 2023, 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 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848”. Issued in December 2022, the FASB issued amendments to extend the period of time preparers can use the reference rate reform relief guidance under Accounting Standards Codification (ASC) Topic 848 from December 31, 2022, to December 31, 2024, to address the fact that all London Interbank Offered Rate (LIBOR) tenors were not discontinued as of December 31, 2021, and some tenors will be published until June 2023. The amendments are effective immediately for all entities and applied prospectively. The Company does not expect these amendments to have a material effect on its financial statements. ASU 2022-03, “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions”. Issued in June 2022, ASU 2022-03 provides guidance on the fair value measurement of an equity security that is subject to a contractual sale restriction and require specific disclosures related to such an equity security. The amendments are effective for financial statements issued for annual periods beginning after December 15, 2023, 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 2022-02, “Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures”. Issued in March 2022, ASU 2022-02 provides guidance to improve the decision usefulness of information provided to investors about certain loan re-financings, restructurings, and write-offs. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company does not expect these amendments to have a material effect on its financial statements. ASU 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance”. Issued in November 2021, ASU 2021-10 requires certain annual disclosures about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy to other accounting guidance. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2021. The Company adopted this standard on July 1, 2022. This pronouncement did not have a material effect on the financial statements. 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 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. 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. ASU 2019-05, “Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief”. Issued in May 2019, ASU 2019-05 provides entities with an option to irrevocably elect the fair value option, applied on an instrument-by-instrument basis for eligible instruments, upon adoption of ASU 2016-13, Measurement of Credit Losses on Financial Instruments. On October 16, 2019, the Financial Accounting Standards Board (“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. 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 is currently evaluating the impact of ASU 2016-13 on its consolidated financial statements by running a parallel loss model. In November 2019, the FASB issued guidance delaying the implementation schedule and 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 the quarter ended March 31, 2023 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 has no changes in its assessment since filing the Annual Report on Form 10-K.

EARNINGS PER SHARE (_EPS_)

EARNINGS PER SHARE (“EPS”)	9 Months Ended
	Mar. 31, 2023
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 $ 628 $ 1,044 $ 3,063 $ 3,051 Less: distributed earnings allocated to participating securities (1 ) (1 ) (3 ) (4 ) Less: (undistributed income) dividends in excess of earnings allocated to participating securities — (1 ) (2 ) (3 ) Net earnings available to common shareholders $ 627 $ 1,042 $ 3,058 $ 3,044 Weighted average common shares outstanding including participating securities 5,609,268 5,590,270 5,608,953 5,590,947 Less: participating securities (9,200 ) (12,000 ) (9,200 ) (12,000 ) Less: average unearned ESOP shares — (9,362 ) (2,677 ) (9,824 ) Weighted average common shares outstanding 5,600,068 5,568,908 5,597,076 5,569,123 Basic earnings per share $ 0.11 $ 0.19 $ 0.55 $ 0.55 Weighted average common shares outstanding 5,600,068 5,568,908 5,597,076 5,569,123 Add: dilutive effects of assumed exercises of stock options 3,163 4,862 3,721 4,701 Average shares and dilutive potential common shares 5,603,231 5,573,770 5,600,797 5,573,824 Diluted earnings per share $ 0.11 $ 0.19 $ 0.55 $ 0.55 For the three and the nine months ended March 31, 2023 and 2022, 21,200

SECURITIES AVAILABLE-FOR-SALE

SECURITIES AVAILABLE-FOR-SALE	9 Months Ended
	Mar. 31, 2023
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, 2023 and June 30, 2022 are as follows: March 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Change in Fair Value Equity Securities Fair Value Available-for-sale: FHLMC common stock $ 20 $ — $ — $ 13 $ 33 Municipal securities 8,670 — (338 ) — 8,332 CMOs 12,729 — (1,655 ) — 11,074 U.S. Government agency mortgage-backed securities 125,366 — (17,283 ) — 108,083 U.S. Treasury and Government agency bonds 12,388 — (1,897 ) — 10,491 Total available-for-sale $ 159,173 $ — $ (21,173 ) $ 13 $ 138,013 June 30, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Change in Fair Value Equity Securities Fair Value Available-for-sale: FHLMC common stock $ 20 $ — $ — $ 14 $ 34 Certificates of deposit 1,247 2 — — 1,249 Municipal securities 16,991 3 (397 ) — 16,597 CMOs 14,145 — (1,081 ) — 13,064 U.S. Government agency mortgage-backed securities 123,652 — (14,048 ) — 109,604 U.S. Treasury and Government agency bonds 12,431 — (1,680 ) — 10,751 Total available-for-sale $ 168,486 $ 5 $ (17,206 ) $ 14 $ 151,299 Securities pledged at March 31, 2023 and June 30, 2022 had fair values of $ 55,427 19,322 At March 31, 2023 and June 30, 2022, 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 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, 2023 and June 30, 2022. 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, 2023 Available-for-sale: Municipal securities $ 3,367 $ (41 ) 7 $ 4,965 $ (297 ) 14 $ 8,332 $ (338 ) 21 CMOs — — — 11,074 (1,655 ) 15 11,074 (1,655 ) 15 U.S. Government agency mortgage-backed securities 12,662 (499 ) 8 95,421 (16,784 ) 81 108,083 (17,283 ) 89 U.S. Treasury and Government agency bonds — — — 10,491 (1,897 ) 7 10,491 (1,897 ) 7 $ 16,029 $ (540 ) 15 $ 121,951 $ (20,633 ) 117 $ 137,980 $ (21,173 ) 132 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, 2022 Available-for-sale: Municipal securities $ 15,027 $ (397 ) 41 $ — $ — — $ 15,027 $ (397 ) 41 CMOs 12,174 (972 ) 17 889 (109 ) 1 13,063 (1,081 ) 18 U.S. Government agency mortgage-backed securities 80,288 (9,197 ) 69 29,188 (4,851 ) 22 109,476 (14,048 ) 91 U.S. Treasury and Government agency bonds 3,822 (403 ) 2 6,930 (1,277 ) 5 10,752 (1,680 ) 7 $ 111,311 $ (10,969 ) 129 $ 37,007 $ (6,237 ) 28 $ 148,318 $ (17,206 ) 157 (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, 2023 were recognized into net income for the three or nine months ended March 31, 2023 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, 2022 were recognized as having OTTI during the year ended June 30, 2022. The following table presents the amortized cost and fair value of debt securities classified as available-for-sale at March 31, 2023 and June 30, 2022 by contractual maturity. March 31, 2023 June 30, 2022 Amortized Fair Amortized Fair Cost Value Cost Value Less than one year $ — $ — $ 1,247 $ 1,249 Due from one to five years 1,447 1,407 4,756 4,727 Due after five years to ten years 18,584 16,556 22,244 20,391 Due after ten years 1,027 860 2,422 2,230 Mortgage-backed securities, CMOs and FHLMC stock (1) 138,115 119,190 137,817 122,702 Total available for sale $ 159,173 $ 138,013 $ 168,486 $ 151,299 (1) Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty. Federal Home Loan Mortgage Corporation (“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, 2023 and 2022: Three Months Ended Nine Months Ended Available-for-sale: March 31, March 31, March 31, March 31, Proceeds $ — $ — $ 11,049 $ — Gross gains — — — — Gross losses — — (84 ) — The tax benefit related to the net realized loss for the nine months ended March 31, 2023 was $ 18

LOANS

LOANS	9 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
LOANS	(5) LOANS The components of loans at March 31, 2023 and June 30, 2022 were as follows: March 31, June 30, Real estate loans: One-to-four family $ 310,347 $ 276,410 Multi-family 341 368 Home equity 7,978 4,803 Nonresidential 25,783 24,629 Agricultural 2,485 2,573 Construction and land 50,261 32,836 Total real estate loans 397,195 341,619 Commercial and industrial 3,326 2,313 Consumer and other loans 1,206 1,180 Total loans $ 401,727 $ 345,112 The table above includes net deferred loan fees of $ 2,291 2,157 The following table presents the activity in the allowance for loan losses Three months March 31, 2023 Beginning Balance Provision Charge-offs Recoveries Ending Real estate loans: One-to-four family $ 1,016 $ (15 ) $ — $ — $ 1,001 Multi-family 3 — — — 3 Home equity 49 8 — — 57 Nonresidential 152 16 — — 168 Agricultural 15 — — — 15 Construction and land 172 32 — — 204 Total real estate loans 1,407 41 — — 1,448 Commercial and industrial 30 9 — — 39 Consumer and other loans 2 — — — 2 Total loans $ 1,439 $ 50 $ — $ — $ 1,489 Nine months ended March 31, 2023 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 965 $ 36 $ — $ — $ 1,001 Multi-family 9 (6 ) — — 3 Home equity 34 23 — — 57 Nonresidential 158 10 — — 168 Agricultural 15 — — — 15 Construction and land 132 72 — — 204 Total real estate loans 1,313 135 — — 1,448 Commercial and industrial 24 15 — — 39 Consumer and other loans 2 — — — 2 Total loans $ 1,339 $ 150 $ — $ — $ 1,489 The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment Ending Allowance on Loans: Loans: At March 31, 2023 Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment Real estate loans: One-to-four family $ — $ 1,001 $ — $ 310,347 Multi-family — 3 — 341 Home equity — 57 — 7,978 Nonresidential — 168 445 25,338 Agricultural — 15 — 2,485 Construction and land — 204 — 50,261 Total real estate loans — 1,448 445 396,750 Commercial and industrial — 39 — 3,326 Consumer and other loans — 2 — 1,206 Total loans $ — $ 1,489 $ 445 $ 401,282 The following table presents the activity in the allowance for loan losses for the three and nine months ended March 31, 2022 by portfolio segment: Three months ended March 31, 2022 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 989 $ 14 $ — $ — $ 1,003 Multi-family 4 — — — 4 Home equity 41 (2 ) — — 39 Nonresidential 139 18 — — 157 Agricultural 15 — — — 15 Construction and land 95 (2 ) — — 93 Total real estate loans 1,283 28 — — 1,311 Commercial and industrial 26 — — — 26 Consumer and other loans 30 (28 ) — — 2 Total loans $ 1,339 $ — $ — $ — $ 1,339 Nine months ended March 31, 2022 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 992 $ 11 $ — $ — $ 1,003 Multi-family 4 — — — 4 Home equity 41 (2 ) — — 39 Nonresidential 133 24 — — 157 Agricultural 15 — — — 15 Construction and land 103 (10 ) — — 93 Total real estate loans 1,288 23 — — 1,311 Commercial and industrial 22 4 — — 26 Consumer and other loans 29 (27 ) — — 2 Total loans $ 1,339 $ — $ — $ — $ 1,339 The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at June 30, 2022: Ending Allowance on Loans: Loans: At June 30, 2022 Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment Real estate loans: One-to-four family $ — $ 965 $ 948 $ 275,462 Multi-family — 9 — 368 Home equity — 34 — 4,803 Nonresidential — 158 478 24,151 Agricultural — 15 — 2,573 Construction and land — 132 — 32,836 Total real estate loans — 1,313 1,426 340,193 Commercial and industrial — 24 — 2,313 Consumer and other loans — 2 — 1,180 Total loans $ — $ 1,339 $ 1,426 $ 343,686 The tables below present loans that were individually evaluated for impairment by portfolio segment March 31, 2023 Unpaid Recorded Investment Related Allowance Average Interest With no recorded allowance: Real estate loans: One-to-four family $ — $ — $ — $ 474 $ — Multi-family — — — — — Home equity — — — — — Nonresidential 472 445 — 462 — Agricultural — — — — — Construction and land — — — — — Total real estate loans 472 445 — 936 — Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ 472 $ 445 $ — $ 936 $ — 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 $ 472 $ 445 $ — $ 936 $ — Consumer and other loans — — — — — Total $ 472 $ 445 $ — $ 936 $ — June 30, 2022 Unpaid Recorded Related Allowance Average Interest With no recorded allowance: Real estate loans: One-to-four family $ 952 $ 948 $ — $ 474 $ 38 Multi-family — — — — — Home equity — — — — — Nonresidential 507 478 — 239 — Agricultural — — — — — Construction and land — — — — — Total real estate loans 1,459 1,426 — 713 38 Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ 1,459 $ 1,426 $ — $ 713 $ 38 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 $ 1,459 $ 1,426 $ — $ 713 $ 38 Consumer and other loans — — — — — Total $ 1,459 $ 1,426 $ — $ 713 $ 38 The following tables present the aging of past due loans as well as nonaccrual loans. Nonaccrual loans and accruing loans past due 90 250 Total past due loans and nonaccrual loans 30-59 60-89 90 Days Total Current Total Nonaccrual Accruing Real estate loans: One-to-four family $ 2,372 $ 560 $ 173 $ 3,105 $ 307,242 $ 310,347 $ 416 $ — Multi-family — — — — 341 341 — — Home equity 42 — 46 88 7,890 7,978 46 — Nonresidential 320 78 — 398 25,385 25,783 523 — Agricultural — — — — 2,485 2,485 — — Construction and land — — — — 50,261 50,261 — — Total real estate loans 2,734 638 219 3,591 393,604 397,195 985 — Commercial and industrial — — — — 3,326 3,326 — — Consumer and other loans — — — — 1,206 1,206 — — Total $ 2,734 $ 638 $ 219 $ 3,591 $ 398,136 $ 401,727 $ 985 $ — Total past due and nonaccrual loans by portfolio segment at June 30, 2022: 30-59 60-89 90 Days Total Current Total Nonaccrual Accruing Real estate loans: One-to-four family $ 2,632 $ 891 $ 696 $ 4,219 $ 272,191 $ 276,410 $ 1,401 $ — Multi-family — — 208 208 160 368 208 — Home equity 17 — — 17 4,786 4,803 — — Nonresidential 82 156 — 238 24,391 24,629 478 — Agricultural — — — — 2,573 2,573 — — Construction and land 436 — — 436 32,400 32,836 — — Total real estate loans 3,167 1,047 904 5,118 336,501 341,619 2,087 — Commercial and industrial — — — — 2,313 2,313 — — Consumer and other loans — — — — 1,180 1,180 — — Total $ 3,167 $ 1,047 $ 904 $ 5,118 $ 339,994 $ 345,112 $ 2,087 $ — Troubled Debt Restructurings: At March 31, 2023 and June 30, 2022, total loans that have been modified as troubled debt restructurings were $ 472 869 one one 445 839 Allowance for Loan Loss: There have been no changes to our allowance for loan loss methodology during the quarter ended March 31, 2023. Due to the increase in the size of the loan portfolio, a $ 50 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: 80 For traditional homes, the Company may originate loans with loan-to-value ratios in excess of 80 80 Multi-family: five years 30 five 75 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: 80 10 10 20 Nonresidential Real Estate: five 20 20 75 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. 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). 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. Agricultural: five 20 20 75 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: 80 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 eight months 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: 18 18 60 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, 2023: Pass Pass-Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 307,326 $ 1,567 $ 713 $ 741 $ — $ 310,347 Multi-family 341 — — — — 341 Home equity 7,871 61 — 46 — 7,978 Nonresidential 25,213 — — 570 — 25,783 Agricultural 2,485 — — — — 2,485 Construction and land 50,069 162 30 — — 50,261 Total real estate loans 393,305 1,790 743 1,357 — 397,195 Commercial and industrial 3,326 — — — — 3,326 Consumer and other loans 1,206 — — — — 1,206 Total $ 397,837 $ 1,790 $ 743 $ 1,357 $ — $ 401,727 Total loans by risk grade and portfolio segment at June 30, 2022: Pass Pass-Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 268,631 $ 2,806 $ 2,412 $ 2,561 $ — $ 276,410 Multi-family 160 — — 208 — 368 Home equity 4,603 193 — 7 — 4,803 Nonresidential 23,763 — 188 678 — 24,629 Agricultural 2,573 — — — — 2,573 Construction and land 32,637 166 — 33 — 32,836 Total real estate loans 332,367 3,165 2,600 3,487 — 341,619 Commercial and industrial 2,313 — — — — 2,313 Consumer and other loans 1,180 — — — — 1,180 Total $ 335,860 $ 3,165 $ 2,600 $ 3,487 $ — $ 345,112

BORROWINGS

BORROWINGS	9 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
BORROWINGS	(6) BORROWINGS At March 31, 2023 and June 30, 2022, advances from the Federal Home Loan Bank were as follows: March 31, 2023 Balance Stated Interest Rate FHLB advances due April 2023 through January 2025 $ 42,000 1.59 5.37 Total $ 42,000 June 30, 2022 Balance Stated Interest Rate FHLB advances due September 2021 through January 2025 $ 9,000 1.40 2.05 Total $ 9,000 Payments over the next five fiscal years are as follows: 2023 $ 39,500 2025 $ 2,500 The weighted average interest rate of all outstanding FHLB advances was 4.87 1.74 Each advance is payable at its maturity date, with a prepayment penalty for fixed rate advances. The advances are collateralized by $ 51,469 14,779 141,640 There were no overnight borrowings at March 31, 2023 or June 30, 2022.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Mar. 31, 2023
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). We invest in the common stock of the Federal Home Loan Bank of Atlanta and in preferred and common stock of First National Bankers Bancshares, Inc. The stock is classified as restricted equity securities and is carried at cost. 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. There were no impaired loans with specific allocations at March 31, 2023 or June 30, 2022. Loans Held for Sale: 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. 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. Deposits: The fair values disclosed for demand deposit, money market and savings accounts are equal to the amount payable on demand at the reporting date resulting in a Level 2 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates of deposit to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. FHLB Advances: The fair values of the Company’s FHLB advances are estimated using discounted cash flow analysis based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. Assets measured at fair value on a recurring basis at March 31, 2023 and June 30, 2022 are summarized below: Fair Value Measurements March 31, 2023 June 30, 2022 (Level 2) (Level 3) (Level 2) (Level 3) Financial assets: Securities available-for-sale: FHLMC common stock $ 33 $ — $ 34 $ — Certificates of deposit — — 1,249 — Municipal securities 8,332 — 16,597 — CMOs 11,074 — 13,064 — U.S. Government agency mortgage-backed securities 108,083 — 109,604 — U.S. Treasury and Government agency bonds 10,491 — 10,751 — Total securities available-for-sale 138,013 — 151,299 — Loan servicing rights — 386 — 345 Total financial assets $ 138,013 $ 386 $ 151,299 $ 345 There are no liabilities 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 Fair Value Measurements (Level 3) Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Loan Loan Loan Loan Balance at beginning of period: $ 364 $ 302 $ 345 $ 305 Unrealized net gains included in net income 22 42 41 39 Balance at end of period: $ 386 $ 344 $ 386 $ 344 The table below presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value at March 31, 2023 and June 30, 2022. Level 3 Quantitative Information March 31, 2023 June 30, 2022 Valuation Unobservable Fair Value Fair Value Technique Inputs Range Loan servicing rights $ 386 $ 345 Discounted cash Discount rate, estimated 10.88 11.38 There are no assets or liabilities measured at fair value on a non-recurring basis at March 31, 2023 or June 30, 2022. 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, 2023 and June 30, 2022 are summarized below: March 31, 2023 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 138,013 $ — $ 138,013 $ — $ 138,013 Loans, net (1) 400,238 — — 376,420 376,420 Loan servicing rights 386 — — 386 386 Restricted equity securities 2,651 N/A N/A N/A N/A Financial liabilities Deposits $ 470,955 $ — $ 465,168 $ — $ 465,168 FHLB Advances 42,000 — 41,863 — 41,863 June 30, 2022 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 151,299 $ — $ 151,299 $ — $ 151,299 Loans, net (1) 343,773 — — 325,859 325,859 Loans held for sale (2) 152 — — 152 152 Loan servicing rights 345 — — 345 345 Restricted equity securities 1,189 N/A N/A N/A N/A Financial liabilities Deposits $ 459,682 $ — $ 454,970 $ — $ 454,970 FHLB Advances 9,000 — 8,868 — 8,868 (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, 2023 and June 30, 2022 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, 2023
Employee Stock Ownership Plan
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 10.00 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 2022 or 2021. There was no 3 62 252 Shares held by the ESOP at March 31, 2023 and June 30, 2022 were as follows: March 31, June 30, Committed to be released to participants — 5,355 Allocated to participants 168,630 163,220 Unearned — 5,354 Total ESOP shares 168,630 173,929 Fair value of unearned shares $ — $ 76

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
STOCK BASED COMPENSATION	(9) STOCK BASED COMPENSATION In 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 435,472 124,420 311,052 The following table summarizes stock option activity for the nine months ended March 31, 2023: Options Weighted- Aggregate Value (1) Outstanding - June 30, 2022 49,900 $ 22.48 Granted — — Exercised (6,000 ) 19.40 Forfeited — — Outstanding - March 31, 2023 43,900 $ 22.90 $ — Fully vested and exercisable at March 31, 2023 32,700 $ 22.20 $ — Expected to vest in future periods 11,200 Fully vested and expected to vest - March 31, 2023 43,900 $ 22.90 $ — (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 $ 18.50 The following table summarizes stock option activity for the nine months ended March 31, 2022: Options Weighted- Aggregate (1) Outstanding - June 30, 2021 131,901 $ 15.70 Granted — — Exercised (82,001 ) 11.58 Forfeited — — Outstanding - March 31, 2022 49,900 $ 22.48 $ 126 Fully vested and exercisable at March 31, 2022 34,100 $ 21.40 $ 123 Expected to vest in future periods 15,800 Fully vested and expected to vest - March 31, 2022 49,900 $ 22.48 $ 126 (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 $ 25.00 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 3,302 4,071 4 13 5 15 37 2.8 The following table summarizes non-vested restricted stock activity for the nine months ended March 31, 2023 and March 31, 2022. March 31, March 31, Balance - beginning of year 9,700 14,300 Granted — — Forfeited — — Vested (500 ) (2,300 ) Balance - end of period 9,200 12,000 Weighted average grant date fair value $ 23.16 $ 23.00 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, 2023 was $ 14 46 18 67 172 3.2

LOAN SERVICING RIGHTS

LOAN SERVICING RIGHTS	9 Months Ended
	Mar. 31, 2023
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, 2023 and June 30, 2022 are as follows: March 31, June 30, Mortgage loan portfolio serviced for: FHLMC $ 35,669 $ 39,476 Custodial escrow balances maintained in connection with serviced loans were $ 341 453 Activity for loan servicing rights for the three and nine months ended March 31, 2023 and 2022 is as follows: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Loan servicing rights: Beginning of period: $ 364 $ 302 $ 345 $ 305 Change in fair value 22 42 41 39 End of period: $ 386 $ 344 $ 386 $ 344 Fair value at March 31, 2023 was determined using a discount rate of 11.38 3.57 12.49 3 9.75 7.09 11.30 4.0

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	(11) SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information for the nine months ended March 31, 2023 and 2022 is as follows: March 31, March 31, Cash paid during the period for: Interest paid $ 2,488 $ 861 Income taxes paid $ 1,095 $ 580 Supplemental noncash disclosures: Transfers from loans to real estate owned $ 106 $ — Change in unrealized gain/loss on securities available-for-sale $ (4,056 ) $ (11,715 )

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	(12) SUBSEQUENT EVENTS Dividend Declared On April 27, 2023, the Board of Directors of Oconee Federal Financial Corp. declared a quarterly cash dividend of $ 0.10 May 11, 2023 May 25, 2023

BASIS OF PRESENTATION, RISKS _2

BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES (Policies)	9 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation:	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 ( 74.24 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, 2023 and June 30, 2022 and the results of operations and cash flows for the interim periods ended March 31, 2023 and 2022. All interim amounts are unaudited, 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, 2023 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, 2022.
Reclassifications:	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 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:	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.

EARNINGS PER SHARE (_EPS_) (Tab

EARNINGS PER SHARE (“EPS”) (Tables)	9 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
The factors used in the earnings per common share computation follow:	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 $ 628 $ 1,044 $ 3,063 $ 3,051 Less: distributed earnings allocated to participating securities (1 ) (1 ) (3 ) (4 ) Less: (undistributed income) dividends in excess of earnings allocated to participating securities — (1 ) (2 ) (3 ) Net earnings available to common shareholders $ 627 $ 1,042 $ 3,058 $ 3,044 Weighted average common shares outstanding including participating securities 5,609,268 5,590,270 5,608,953 5,590,947 Less: participating securities (9,200 ) (12,000 ) (9,200 ) (12,000 ) Less: average unearned ESOP shares — (9,362 ) (2,677 ) (9,824 ) Weighted average common shares outstanding 5,600,068 5,568,908 5,597,076 5,569,123 Basic earnings per share $ 0.11 $ 0.19 $ 0.55 $ 0.55 Weighted average common shares outstanding 5,600,068 5,568,908 5,597,076 5,569,123 Add: dilutive effects of assumed exercises of stock options 3,163 4,862 3,721 4,701 Average shares and dilutive potential common shares 5,603,231 5,573,770 5,600,797 5,573,824 Diluted earnings per share $ 0.11 $ 0.19 $ 0.55 $ 0.55

SECURITIES AVAILABLE-FOR-SALE (

SECURITIES AVAILABLE-FOR-SALE (Tables)	9 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investment securities at March 31, 2023 and June 30, 2022 are as follows:	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, 2023 and June 30, 2022 are as follows: March 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Change in Fair Value Equity Securities Fair Value Available-for-sale: FHLMC common stock $ 20 $ — $ — $ 13 $ 33 Municipal securities 8,670 — (338 ) — 8,332 CMOs 12,729 — (1,655 ) — 11,074 U.S. Government agency mortgage-backed securities 125,366 — (17,283 ) — 108,083 U.S. Treasury and Government agency bonds 12,388 — (1,897 ) — 10,491 Total available-for-sale $ 159,173 $ — $ (21,173 ) $ 13 $ 138,013 June 30, 2022 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Change in Fair Value Equity Securities Fair Value Available-for-sale: FHLMC common stock $ 20 $ — $ — $ 14 $ 34 Certificates of deposit 1,247 2 — — 1,249 Municipal securities 16,991 3 (397 ) — 16,597 CMOs 14,145 — (1,081 ) — 13,064 U.S. Government agency mortgage-backed securities 123,652 — (14,048 ) — 109,604 U.S. Treasury and Government agency bonds 12,431 — (1,680 ) — 10,751 Total available-for-sale $ 168,486 $ 5 $ (17,206 ) $ 14 $ 151,299
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, 2023 and June 30, 2022.	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, 2023 and June 30, 2022. 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, 2023 Available-for-sale: Municipal securities $ 3,367 $ (41 ) 7 $ 4,965 $ (297 ) 14 $ 8,332 $ (338 ) 21 CMOs — — — 11,074 (1,655 ) 15 11,074 (1,655 ) 15 U.S. Government agency mortgage-backed securities 12,662 (499 ) 8 95,421 (16,784 ) 81 108,083 (17,283 ) 89 U.S. Treasury and Government agency bonds — — — 10,491 (1,897 ) 7 10,491 (1,897 ) 7 $ 16,029 $ (540 ) 15 $ 121,951 $ (20,633 ) 117 $ 137,980 $ (21,173 ) 132 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, 2022 Available-for-sale: Municipal securities $ 15,027 $ (397 ) 41 $ — $ — — $ 15,027 $ (397 ) 41 CMOs 12,174 (972 ) 17 889 (109 ) 1 13,063 (1,081 ) 18 U.S. Government agency mortgage-backed securities 80,288 (9,197 ) 69 29,188 (4,851 ) 22 109,476 (14,048 ) 91 U.S. Treasury and Government agency bonds 3,822 (403 ) 2 6,930 (1,277 ) 5 10,752 (1,680 ) 7 $ 111,311 $ (10,969 ) 129 $ 37,007 $ (6,237 ) 28 $ 148,318 $ (17,206 ) 157 (1) Actual amounts.
The following table presents the amortized cost and fair value of debt securities classified as available-for-sale at March 31, 2023 and June 30, 2022 by contractual maturity.	The following table presents the amortized cost and fair value of debt securities classified as available-for-sale at March 31, 2023 and June 30, 2022 by contractual maturity. March 31, 2023 June 30, 2022 Amortized Fair Amortized Fair Cost Value Cost Value Less than one year $ — $ — $ 1,247 $ 1,249 Due from one to five years 1,447 1,407 4,756 4,727 Due after five years to ten years 18,584 16,556 22,244 20,391 Due after ten years 1,027 860 2,422 2,230 Mortgage-backed securities, CMOs and FHLMC stock (1) 138,115 119,190 137,817 122,702 Total available for sale $ 159,173 $ 138,013 $ 168,486 $ 151,299 (1) Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty. Federal Home Loan Mortgage Corporation (“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, 2023 and 2022:	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, 2023 and 2022: Three Months Ended Nine Months Ended Available-for-sale: March 31, March 31, March 31, March 31, Proceeds $ — $ — $ 11,049 $ — Gross gains — — — — Gross losses — — (84 ) —

LOANS (Tables)

LOANS (Tables)	9 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
The components of loans at March 31, 2023 and June 30, 2022 were as follows:	The components of loans at March 31, 2023 and June 30, 2022 were as follows: March 31, June 30, Real estate loans: One-to-four family $ 310,347 $ 276,410 Multi-family 341 368 Home equity 7,978 4,803 Nonresidential 25,783 24,629 Agricultural 2,485 2,573 Construction and land 50,261 32,836 Total real estate loans 397,195 341,619 Commercial and industrial 3,326 2,313 Consumer and other loans 1,206 1,180 Total loans $ 401,727 $ 345,112
The following table presents the activity in the allowance for loan losses	The following table presents the activity in the allowance for loan losses Three months March 31, 2023 Beginning Balance Provision Charge-offs Recoveries Ending Real estate loans: One-to-four family $ 1,016 $ (15 ) $ — $ — $ 1,001 Multi-family 3 — — — 3 Home equity 49 8 — — 57 Nonresidential 152 16 — — 168 Agricultural 15 — — — 15 Construction and land 172 32 — — 204 Total real estate loans 1,407 41 — — 1,448 Commercial and industrial 30 9 — — 39 Consumer and other loans 2 — — — 2 Total loans $ 1,439 $ 50 $ — $ — $ 1,489 Nine months ended March 31, 2023 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 965 $ 36 $ — $ — $ 1,001 Multi-family 9 (6 ) — — 3 Home equity 34 23 — — 57 Nonresidential 158 10 — — 168 Agricultural 15 — — — 15 Construction and land 132 72 — — 204 Total real estate loans 1,313 135 — — 1,448 Commercial and industrial 24 15 — — 39 Consumer and other loans 2 — — — 2 Total loans $ 1,339 $ 150 $ — $ — $ 1,489 The following table presents the activity in the allowance for loan losses for the three and nine months ended March 31, 2022 by portfolio segment: Three months ended March 31, 2022 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 989 $ 14 $ — $ — $ 1,003 Multi-family 4 — — — 4 Home equity 41 (2 ) — — 39 Nonresidential 139 18 — — 157 Agricultural 15 — — — 15 Construction and land 95 (2 ) — — 93 Total real estate loans 1,283 28 — — 1,311 Commercial and industrial 26 — — — 26 Consumer and other loans 30 (28 ) — — 2 Total loans $ 1,339 $ — $ — $ — $ 1,339 Nine months ended March 31, 2022 Beginning Balance Provision Charge-offs Recoveries Ending Balance Real estate loans: One-to-four family $ 992 $ 11 $ — $ — $ 1,003 Multi-family 4 — — — 4 Home equity 41 (2 ) — — 39 Nonresidential 133 24 — — 157 Agricultural 15 — — — 15 Construction and land 103 (10 ) — — 93 Total real estate loans 1,288 23 — — 1,311 Commercial and industrial 22 4 — — 26 Consumer and other loans 29 (27 ) — — 2 Total loans $ 1,339 $ — $ — $ — $ 1,339
The following table presents the 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 Ending Allowance on Loans: Loans: At March 31, 2023 Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment Real estate loans: One-to-four family $ — $ 1,001 $ — $ 310,347 Multi-family — 3 — 341 Home equity — 57 — 7,978 Nonresidential — 168 445 25,338 Agricultural — 15 — 2,485 Construction and land — 204 — 50,261 Total real estate loans — 1,448 445 396,750 Commercial and industrial — 39 — 3,326 Consumer and other loans — 2 — 1,206 Total loans $ — $ 1,489 $ 445 $ 401,282 The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment at June 30, 2022: Ending Allowance on Loans: Loans: At June 30, 2022 Individually Evaluated for Impairment Collectively Evaluated for Impairment Individually Evaluated for Impairment Collectively Evaluated for Impairment Real estate loans: One-to-four family $ — $ 965 $ 948 $ 275,462 Multi-family — 9 — 368 Home equity — 34 — 4,803 Nonresidential — 158 478 24,151 Agricultural — 15 — 2,573 Construction and land — 132 — 32,836 Total real estate loans — 1,313 1,426 340,193 Commercial and industrial — 24 — 2,313 Consumer and other loans — 2 — 1,180 Total loans $ — $ 1,339 $ 1,426 $ 343,686
The tables below present loans that were individually evaluated for impairment by portfolio segment	The tables below present loans that were individually evaluated for impairment by portfolio segment March 31, 2023 Unpaid Recorded Investment Related Allowance Average Interest With no recorded allowance: Real estate loans: One-to-four family $ — $ — $ — $ 474 $ — Multi-family — — — — — Home equity — — — — — Nonresidential 472 445 — 462 — Agricultural — — — — — Construction and land — — — — — Total real estate loans 472 445 — 936 — Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ 472 $ 445 $ — $ 936 $ — 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 $ 472 $ 445 $ — $ 936 $ — Consumer and other loans — — — — — Total $ 472 $ 445 $ — $ 936 $ — June 30, 2022 Unpaid Recorded Related Allowance Average Interest With no recorded allowance: Real estate loans: One-to-four family $ 952 $ 948 $ — $ 474 $ 38 Multi-family — — — — — Home equity — — — — — Nonresidential 507 478 — 239 — Agricultural — — — — — Construction and land — — — — — Total real estate loans 1,459 1,426 — 713 38 Commercial and industrial — — — — — Consumer and other loans — — — — — Total $ 1,459 $ 1,426 $ — $ 713 $ 38 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 $ 1,459 $ 1,426 $ — $ 713 $ 38 Consumer and other loans — — — — — Total $ 1,459 $ 1,426 $ — $ 713 $ 38
Total past due loans and nonaccrual loans	Total past due loans and nonaccrual loans 30-59 60-89 90 Days Total Current Total Nonaccrual Accruing Real estate loans: One-to-four family $ 2,372 $ 560 $ 173 $ 3,105 $ 307,242 $ 310,347 $ 416 $ — Multi-family — — — — 341 341 — — Home equity 42 — 46 88 7,890 7,978 46 — Nonresidential 320 78 — 398 25,385 25,783 523 — Agricultural — — — — 2,485 2,485 — — Construction and land — — — — 50,261 50,261 — — Total real estate loans 2,734 638 219 3,591 393,604 397,195 985 — Commercial and industrial — — — — 3,326 3,326 — — Consumer and other loans — — — — 1,206 1,206 — — Total $ 2,734 $ 638 $ 219 $ 3,591 $ 398,136 $ 401,727 $ 985 $ — Total past due and nonaccrual loans by portfolio segment at June 30, 2022: 30-59 60-89 90 Days Total Current Total Nonaccrual Accruing Real estate loans: One-to-four family $ 2,632 $ 891 $ 696 $ 4,219 $ 272,191 $ 276,410 $ 1,401 $ — Multi-family — — 208 208 160 368 208 — Home equity 17 — — 17 4,786 4,803 — — Nonresidential 82 156 — 238 24,391 24,629 478 — Agricultural — — — — 2,573 2,573 — — Construction and land 436 — — 436 32,400 32,836 — — Total real estate loans 3,167 1,047 904 5,118 336,501 341,619 2,087 — Commercial and industrial — — — — 2,313 2,313 — — Consumer and other loans — — — — 1,180 1,180 — — Total $ 3,167 $ 1,047 $ 904 $ 5,118 $ 339,994 $ 345,112 $ 2,087 $ —
Total loans by risk grade and portfolio segment at March 31, 2023:	Total loans by risk grade and portfolio segment at March 31, 2023: Pass Pass-Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 307,326 $ 1,567 $ 713 $ 741 $ — $ 310,347 Multi-family 341 — — — — 341 Home equity 7,871 61 — 46 — 7,978 Nonresidential 25,213 — — 570 — 25,783 Agricultural 2,485 — — — — 2,485 Construction and land 50,069 162 30 — — 50,261 Total real estate loans 393,305 1,790 743 1,357 — 397,195 Commercial and industrial 3,326 — — — — 3,326 Consumer and other loans 1,206 — — — — 1,206 Total $ 397,837 $ 1,790 $ 743 $ 1,357 $ — $ 401,727 Total loans by risk grade and portfolio segment at June 30, 2022: Pass Pass-Watch Special Substandard Doubtful Total Real estate loans: One-to-four family $ 268,631 $ 2,806 $ 2,412 $ 2,561 $ — $ 276,410 Multi-family 160 — — 208 — 368 Home equity 4,603 193 — 7 — 4,803 Nonresidential 23,763 — 188 678 — 24,629 Agricultural 2,573 — — — — 2,573 Construction and land 32,637 166 — 33 — 32,836 Total real estate loans 332,367 3,165 2,600 3,487 — 341,619 Commercial and industrial 2,313 — — — — 2,313 Consumer and other loans 1,180 — — — — 1,180 Total $ 335,860 $ 3,165 $ 2,600 $ 3,487 $ — $ 345,112

BORROWINGS (Tables)

BORROWINGS (Tables)	9 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
At March 31, 2023 and June 30, 2022, advances from the Federal Home Loan Bank were as follows:	At March 31, 2023 and June 30, 2022, advances from the Federal Home Loan Bank were as follows: March 31, 2023 Balance Stated Interest Rate FHLB advances due April 2023 through January 2025 $ 42,000 1.59 5.37 Total $ 42,000 June 30, 2022 Balance Stated Interest Rate FHLB advances due September 2021 through January 2025 $ 9,000 1.40 2.05 Total $ 9,000
Payments over the next five fiscal years are as follows:	Payments over the next five fiscal years are as follows: 2023 $ 39,500 2025 $ 2,500

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Assets measured at fair value on a recurring basis at March 31, 2023 and June 30, 2022 are summarized below:	Assets measured at fair value on a recurring basis at March 31, 2023 and June 30, 2022 are summarized below: Fair Value Measurements March 31, 2023 June 30, 2022 (Level 2) (Level 3) (Level 2) (Level 3) Financial assets: Securities available-for-sale: FHLMC common stock $ 33 $ — $ 34 $ — Certificates of deposit — — 1,249 — Municipal securities 8,332 — 16,597 — CMOs 11,074 — 13,064 — U.S. Government agency mortgage-backed securities 108,083 — 109,604 — U.S. Treasury and Government agency bonds 10,491 — 10,751 — Total securities available-for-sale 138,013 — 151,299 — Loan servicing rights — 386 — 345 Total financial assets $ 138,013 $ 386 $ 151,299 $ 345
The table below presents a reconciliation of all Level 3 assets measured at fair value on a recurring basis using significant unobservable inputs	The table below presents a reconciliation of all Level 3 assets measured at fair value on a recurring basis using significant unobservable inputs Fair Value Measurements (Level 3) Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Loan Loan Loan Loan Balance at beginning of period: $ 364 $ 302 $ 345 $ 305 Unrealized net gains included in net income 22 42 41 39 Balance at end of period: $ 386 $ 344 $ 386 $ 344
The table below presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value at March 31, 2023 and June 30, 2022.	The table below presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value at March 31, 2023 and June 30, 2022. Level 3 Quantitative Information March 31, 2023 June 30, 2022 Valuation Unobservable Fair Value Fair Value Technique Inputs Range Loan servicing rights $ 386 $ 345 Discounted cash Discount rate, estimated 10.88 11.38
The estimated fair values of the Company’s remaining on-balance sheet financial instruments at March 31, 2023 and June 30, 2022 are summarized below:	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, 2023 and June 30, 2022 are summarized below: March 31, 2023 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 138,013 $ — $ 138,013 $ — $ 138,013 Loans, net (1) 400,238 — — 376,420 376,420 Loan servicing rights 386 — — 386 386 Restricted equity securities 2,651 N/A N/A N/A N/A Financial liabilities Deposits $ 470,955 $ — $ 465,168 $ — $ 465,168 FHLB Advances 42,000 — 41,863 — 41,863 June 30, 2022 Carrying Fair Value Amount (Level 1) (Level 2) (Level 3) Total Financial assets Securities available-for-sale $ 151,299 $ — $ 151,299 $ — $ 151,299 Loans, net (1) 343,773 — — 325,859 325,859 Loans held for sale (2) 152 — — 152 152 Loan servicing rights 345 — — 345 345 Restricted equity securities 1,189 N/A N/A N/A N/A Financial liabilities Deposits $ 459,682 $ — $ 454,970 $ — $ 454,970 FHLB Advances 9,000 — 8,868 — 8,868 (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, 2023 and June 30, 2022 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, 2023
Employee Stock Ownership Plan
Shares held by the ESOP at March 31, 2023 and June 30, 2022 were as follows:	Shares held by the ESOP at March 31, 2023 and June 30, 2022 were as follows: March 31, June 30, Committed to be released to participants — 5,355 Allocated to participants 168,630 163,220 Unearned — 5,354 Total ESOP shares 168,630 173,929 Fair value of unearned shares $ — $ 76

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	9 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
The following table summarizes stock option activity for the nine months ended March 31, 2023:	The following table summarizes stock option activity for the nine months ended March 31, 2023: Options Weighted- Aggregate Value (1) Outstanding - June 30, 2022 49,900 $ 22.48 Granted — — Exercised (6,000 ) 19.40 Forfeited — — Outstanding - March 31, 2023 43,900 $ 22.90 $ — Fully vested and exercisable at March 31, 2023 32,700 $ 22.20 $ — Expected to vest in future periods 11,200 Fully vested and expected to vest - March 31, 2023 43,900 $ 22.90 $ — (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 $ 18.50 The following table summarizes stock option activity for the nine months ended March 31, 2022: Options Weighted- Aggregate (1) Outstanding - June 30, 2021 131,901 $ 15.70 Granted — — Exercised (82,001 ) 11.58 Forfeited — — Outstanding - March 31, 2022 49,900 $ 22.48 $ 126 Fully vested and exercisable at March 31, 2022 34,100 $ 21.40 $ 123 Expected to vest in future periods 15,800 Fully vested and expected to vest - March 31, 2022 49,900 $ 22.48 $ 126 (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 $ 25.00
The following table summarizes non-vested restricted stock activity for the nine months ended March 31, 2023 and March 31, 2022.	The following table summarizes non-vested restricted stock activity for the nine months ended March 31, 2023 and March 31, 2022. March 31, March 31, Balance - beginning of year 9,700 14,300 Granted — — Forfeited — — Vested (500 ) (2,300 ) Balance - end of period 9,200 12,000 Weighted average grant date fair value $ 23.16 $ 23.00

LOAN SERVICING RIGHTS (Tables)

LOAN SERVICING RIGHTS (Tables)	9 Months Ended
	Mar. 31, 2023
Transfers and Servicing [Abstract]
The principal balances of those loans at March 31, 2023 and June 30, 2022 are as follows:	The principal balances of those loans at March 31, 2023 and June 30, 2022 are as follows: March 31, June 30, Mortgage loan portfolio serviced for: FHLMC $ 35,669 $ 39,476
Activity for loan servicing rights for the three and nine months ended March 31, 2023 and 2022 is as follows:	Activity for loan servicing rights for the three and nine months ended March 31, 2023 and 2022 is as follows: Three Months Ended Nine Months Ended March 31, March 31, March 31, March 31, Loan servicing rights: Beginning of period: $ 364 $ 302 $ 345 $ 305 Change in fair value 22 42 41 39 End of period: $ 386 $ 344 $ 386 $ 344

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental cash flow information for the nine months ended March 31, 2023 and 2022 is as follows:	Supplemental cash flow information for the nine months ended March 31, 2023 and 2022 is as follows: March 31, March 31, Cash paid during the period for: Interest paid $ 2,488 $ 861 Income taxes paid $ 1,095 $ 580 Supplemental noncash disclosures: Transfers from loans to real estate owned $ 106 $ — Change in unrealized gain/loss on securities available-for-sale $ (4,056 ) $ (11,715 )

BASIS OF PRESENTATION, RISKS _3

BASIS OF PRESENTATION, RISKS AND UNCERTAINTIES (Details Narrative)	Mar. 31, 2023
Oconee Federal Mutual Holding Company [Member]
Percentage of ownership in the entity	74.24%

The factors used in the earning

The factors used in the earnings per common share computation follow: (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Earnings per share
Net income	$ 628	$ 1,044	$ 3,063	$ 3,051
Less:  distributed earnings allocated to participating securities	(1)	(1)	(3)	(4)
Less:  (undistributed income) dividends in excess of earnings allocated to participating securities		(1)	(2)	(3)
Net earnings available to common shareholders	$ 627	$ 1,042	$ 3,058	$ 3,044
Weighted average common shares outstanding including participating securities	5,609,268	5,590,270	5,608,953	5,590,947
Less:  participating securities	(9,200)	(12,000)	(9,200)	(12,000)
Less: average unearned ESOP shares		(9,362)	(2,677)	(9,824)
Weighted average common shares outstanding	5,600,068	5,568,908	5,597,076	5,569,123
Basic earnings per share	$ 0.11	$ 0.19	$ 0.55	$ 0.55
Add:  dilutive effects of assumed exercises of stock options	3,163	4,862	3,721	4,701
Average shares and dilutive potential common shares	5,603,231	5,573,770	5,600,797	5,573,824
Diluted earnings per share	$ 0.11	$ 0.19	$ 0.55	$ 0.55

EARNINGS PER SHARE (_EPS_) (Det

EARNINGS PER SHARE (“EPS”) (Details Narrative) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Antidilutive shares	21,200	21,200	21,200	21,200

Investment securities at March

Investment securities at March 31, 2023 and June 30, 2022 are as follows: (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Marketable Securities [Line Items]
Change In Fair Value Equity Securities	$ 13	$ 14
Gross Unrealized Gains		5
Gross Unrealized Losses	(21,173)	(17,206)
Total, Amortized Cost	159,173	168,486
Total, Fair Value	138,013	151,299
FHLMC Common Stock [Member]
Marketable Securities [Line Items]
Equity Securities, Amortized Cost	20	20
Change In Fair Value Equity Securities	13	14
Equity Securities, Fair Value	33	34
US States and Political Subdivisions Debt Securities [Member]
Marketable Securities [Line Items]
Debt Securities, Amortized Cost	8,670	16,991
Gross Unrealized Gains		3
Gross Unrealized Losses	(338)	(397)
Debt Securities, Fair Value	8,332	16,597
Collateralized Mortgage Obligations [Member]
Marketable Securities [Line Items]
Debt Securities, Amortized Cost	12,729	14,145
Gross Unrealized Losses	(1,655)	(1,081)
Debt Securities, Fair Value	11,074	13,064
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member]
Marketable Securities [Line Items]
Debt Securities, Amortized Cost	125,366	123,652
Gross Unrealized Losses	(17,283)	(14,048)
Debt Securities, Fair Value	108,083	109,604
US Government Agencies Debt Securities [Member]
Marketable Securities [Line Items]
Debt Securities, Amortized Cost	12,388	12,431
Gross Unrealized Losses	(1,897)	(1,680)
Debt Securities, Fair Value	$ 10,491	10,751
Certificates of Deposit [Member]
Marketable Securities [Line Items]
Debt Securities, Amortized Cost		1,247
Gross Unrealized Gains		2
Debt Securities, Fair Value		$ 1,249

The following tables show the f

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, 2023 and June 30, 2022. (Details) $ in Thousands		Mar. 31, 2023 USD ($) Number	Jun. 30, 2022 USD ($) Number
Marketable Securities [Line Items]
Less than 12 Months, Fair Value		$ 16,029	$ 111,311
Less than 12 Months, Unrealized Loss		$ (540)	$ (10,969)
Less than 12 Months, Number in Unrealized Loss | Number	[1]	15	129
12 Months or More, Fair Value		$ 121,951	$ 37,007
12 Months or More, Unrealized Loss		$ (20,633)	$ (6,237)
12 Months or More, Number in Unrealized Loss | Number	[1]	117	28
Total, Fair Value		$ 137,980	$ 148,318
Total, Unrealized Loss		$ (21,173)	$ (17,206)
Total, Number in Unrealized Loss | Number	[1]	132	157
US States and Political Subdivisions Debt Securities [Member]
Marketable Securities [Line Items]
Less than 12 Months, Fair Value		$ 3,367	$ 15,027
Less than 12 Months, Unrealized Loss		$ (41)	$ (397)
Less than 12 Months, Number in Unrealized Loss | Number	[1]	7	41
12 Months or More, Fair Value		$ 4,965
12 Months or More, Unrealized Loss		$ (297)
12 Months or More, Number in Unrealized Loss | Number	[1]	14
Total, Fair Value		$ 8,332	$ 15,027
Total, Unrealized Loss		$ (338)	$ (397)
Total, Number in Unrealized Loss | Number	[1]	21	41
Collateralized Mortgage Obligations [Member]
Marketable Securities [Line Items]
Less than 12 Months, Fair Value			$ 12,174
Less than 12 Months, Unrealized Loss			$ (972)
Less than 12 Months, Number in Unrealized Loss | Number	[1]		17
12 Months or More, Fair Value		$ 11,074	$ 889
12 Months or More, Unrealized Loss		$ (1,655)	$ (109)
12 Months or More, Number in Unrealized Loss | Number	[1]	15	1
Total, Fair Value		$ 11,074	$ 13,063
Total, Unrealized Loss		$ (1,655)	$ (1,081)
Total, Number in Unrealized Loss | Number	[1]	15	18
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member]
Marketable Securities [Line Items]
Less than 12 Months, Fair Value		$ 12,662	$ 80,288
Less than 12 Months, Unrealized Loss		$ (499)	$ (9,197)
Less than 12 Months, Number in Unrealized Loss | Number	[1]	8	69
12 Months or More, Fair Value		$ 95,421	$ 29,188
12 Months or More, Unrealized Loss		$ (16,784)	$ (4,851)
12 Months or More, Number in Unrealized Loss | Number	[1]	81	22
Total, Fair Value		$ 108,083	$ 109,476
Total, Unrealized Loss		$ (17,283)	$ (14,048)
Total, Number in Unrealized Loss | Number	[1]	89	91
US Government Agencies Debt Securities [Member]
Marketable Securities [Line Items]
Less than 12 Months, Fair Value			$ 3,822
Less than 12 Months, Unrealized Loss			$ (403)
Less than 12 Months, Number in Unrealized Loss | Number	[1]		2
12 Months or More, Fair Value		$ 10,491	$ 6,930
12 Months or More, Unrealized Loss		$ (1,897)	$ (1,277)
12 Months or More, Number in Unrealized Loss | Number	[1]	7	5
Total, Fair Value		$ 10,491	$ 10,752
Total, Unrealized Loss		$ (1,897)	$ (1,680)
Total, Number in Unrealized Loss | Number	[1]	7	7
[1]Actual amounts.

The following table presents th

The following table presents the amortized cost and fair value of debt securities classified as available-for-sale at March 31, 2023 and June 30, 2022 by contractual maturity. (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Less than one year			$ 1,247
Less than one year			1,249
Due from one to five years		$ 1,447	4,756
Due from one to five years		1,407	4,727
Due after five years to ten years		18,584	22,244
Due after five years to ten years		16,556	20,391
Due after ten years		1,027	2,422
Due after ten years		860	2,230
Mortgage-backed securities, CMOs and FHLMC stock	[1]	138,115	137,817
Mortgage-backed securities, CMOs and FHLMC stock	[1]	119,190	122,702
Total, Amortized Cost		159,173	168,486
Total, Fair Value		$ 138,013	$ 151,299
[1]Actual cash flows may differ from contractual maturities as borrowers may prepay obligations without prepayment penalty. Federal Home Loan Mortgage Corporation (“FHLMC”) common stock is not scheduled because it has no contractual maturity date.

The following table presents _2

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, 2023 and 2022: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Proceeds			$ 11,049
Gross gains
Gross losses			$ (84)

SECURITIES AVAILABLE-FOR-SALE_2

SECURITIES AVAILABLE-FOR-SALE (Details Narrative) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Securities pledged to secure public deposits	$ 55,427	$ 19,322
Percentage holdings of securities greater than shareholders' equity	10%	10%
Tax benefit related to net realized loss	$ 18

The components of loans at Marc

The components of loans at March 31, 2023 and June 30, 2022 were as follows: (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 401,727	$ 345,112
Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	397,195	341,619
Commercial And Industrial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	3,326	2,313
Consumer And Other Loans Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	1,206	1,180
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	310,347	276,410
Real Estate Multi Family Loan [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	341	368
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	7,978	4,803
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	25,783	24,629
Real Estate Agricultural [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	2,485	2,573
Real Estate Construction And Land Loan [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 50,261	$ 32,836

LOANS (Details Narrative)

LOANS (Details Narrative) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023 USD ($) Number	Mar. 31, 2022 USD ($)	Mar. 31, 2023 USD ($) Number	Mar. 31, 2022 USD ($)	Jun. 30, 2022 USD ($) Number
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net deferred loan fees	$ 2,291		$ 2,291		$ 2,157
Period past due for non-accrual status			90 days
Impaired loans individually evaluated	250		$ 250
Recorded investment in troubled debt restructuring	472		472		869
Loans individually evaluated for impairment	445		445		1,426
Provision for loan losses	50		150
Troubled Debt Restructurings [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans individually evaluated for impairment	445		445		839
Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans individually evaluated for impairment	445		445		$ 1,426
Provision for loan losses	$ 41	28	$ 135	23
Commercial Real Estate [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan-to-value ratios (as a percent)			75%
Term of loans			20 years
Amortization period			20 years
Commercial Real Estate [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term of loans			5 years
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of troubled debt restructured loans | Number	1		1		1
Loans individually evaluated for impairment	$ 445		$ 445		$ 478
Provision for loan losses	16	18	$ 10	24
Real Estate One-to-Four Family Loan [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan-to-value ratios if the borrower obtains mortgage insurance or provides readily marketable collateral (as a percent)			80%
Real Estate One-to-Four Family Loan [Member] | Owner Occupied Homes [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan-to-value ratios (as a percent)			80%
Real Estate One-to-Four Family Loan [Member] | Non Owner Occupied Homes [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan-to-value ratios (as a percent)			80%
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans individually evaluated for impairment					$ 948
Provision for loan losses	(15)	14	$ 36	11
Real Estate Multi Family Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Amortization period			30 years
Real Estate Multi Family Loan [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term of loans			5 years
Loans made as a percentage of lesser of appraised value or purchase price			75%
Real Estate Multi Family Loan [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of units in properties used to secure loans | Number			5
Real Estate Multi Family Loan [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for loan losses			$ (6)
Home Equity Line of Credit [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan-to-value ratios (as a percent)			80%
Term of loans			10 years
Amortization period			20 years
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for loan losses	$ 8	$ (2)	$ 23	$ (2)
Real Estate Agricultural [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan-to-value ratios (as a percent)			75%
Term of loans			20 years
Amortization period			20 years
Real Estate Agricultural [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term of loans			5 years
Construction Loans [Member] | Owner Occupied Homes [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan-to-value ratios (as a percent)			80%
Construction Loans [Member] | Non Residential Properties [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan-to-value ratios (as a percent)			85%
Term of loans			8 months
Number of loans a borrower is permitted to have at a time | Number			2
Consumer Loans Unsecured [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term of loans			18 months
Consumer Loans Secured By Vehicles [Member] | Maximum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term of loans			60 months
Consumer Loans Secured By Vehicles [Member] | Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term of loans			18 months

The following table presents _3

The following table presents the activity in the allowance for loan losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	$ 1,439	$ 1,339	$ 1,339	$ 1,339
Provision	50		150
Ending Balance	1,489	1,339	1,489	1,339
Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	1,407	1,283	1,313	1,288
Provision	41	28	135	23
Ending Balance	1,448	1,311	1,448	1,311
Commercial And Industrial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	30	26	24	22
Provision	9		15	4
Ending Balance	39	26	39	26
Consumer And Other Loans Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	2	30	2	29
Provision		(28)		(27)
Ending Balance	2	2	2	2
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	1,016	989	965	992
Provision	(15)	14	36	11
Ending Balance	1,001	1,003	1,001	1,003
Real Estate Multi Family Loan [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	3	4	9	4
Provision			(6)
Ending Balance	3	4	3	4
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	49	41	34	41
Provision	8	(2)	23	(2)
Ending Balance	57	39	57	39
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	152	139	158	133
Provision	16	18	10	24
Ending Balance	168	157	168	157
Real Estate Agricultural [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	15	15	15	15
Ending Balance	15	15	15	15
Real Estate Construction And Land Loan [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning Balance	172	95	132	103
Provision	32	(2)	72	(10)
Ending Balance	$ 204	$ 93	$ 204	$ 93

The following table presents _4

The following table presents the recorded balances of loans and amount of allowance allocated based upon impairment method by portfolio segment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ending Allowance on Loans Collectively Evaluated for Impairment	$ 1,489	$ 1,339
Loans Individually Evaluated for Impairment	445	1,426
Loans Collectively Evaluated for Impairment	401,282	343,686
Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ending Allowance on Loans Collectively Evaluated for Impairment	1,448	1,313
Loans Individually Evaluated for Impairment	445	1,426
Loans Collectively Evaluated for Impairment	396,750	340,193
Commercial And Industrial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ending Allowance on Loans Collectively Evaluated for Impairment	39	24
Loans Collectively Evaluated for Impairment	3,326	2,313
Consumer And Other Loans Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ending Allowance on Loans Collectively Evaluated for Impairment	2	2
Loans Collectively Evaluated for Impairment	1,206	1,180
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ending Allowance on Loans Collectively Evaluated for Impairment	1,001	965
Loans Individually Evaluated for Impairment		948
Loans Collectively Evaluated for Impairment	310,347	275,462
Real Estate Multi Family Loan [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ending Allowance on Loans Collectively Evaluated for Impairment	3	9
Loans Collectively Evaluated for Impairment	341	368
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ending Allowance on Loans Collectively Evaluated for Impairment	57	34
Loans Collectively Evaluated for Impairment	7,978	4,803
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ending Allowance on Loans Collectively Evaluated for Impairment	168	158
Loans Individually Evaluated for Impairment	445	478
Loans Collectively Evaluated for Impairment	25,338	24,151
Real Estate Agricultural [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ending Allowance on Loans Collectively Evaluated for Impairment	15	15
Loans Collectively Evaluated for Impairment	2,485	2,573
Real Estate Construction And Land Loan [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Ending Allowance on Loans Collectively Evaluated for Impairment	204	132
Loans Collectively Evaluated for Impairment	$ 50,261	$ 32,836

The tables below present loans

The tables below present loans that were individually evaluated for impairment by portfolio segment (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 30, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance, with no recorded allowance	$ 472	$ 1,459
Recorded Investment, with no recorded allowance	445	1,426
Average Recorded Investment, with no recorded allowance	936	713
Interest Income Recognized, with no recorded allowance		38
Impaired Financing Receivable, Unpaid Principal Balance	472	1,459
Impaired Financing Receivable, Recorded Investment	445	1,426
Impaired Financing Receivable, Average Recorded Investment	936	713
Impaired Financing Receivable, Interest Income, Accrual Method		38
Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance, with no recorded allowance	472	1,459
Recorded Investment, with no recorded allowance	445	1,426
Average Recorded Investment, with no recorded allowance	936	713
Interest Income Recognized, with no recorded allowance		38
Impaired Financing Receivable, Unpaid Principal Balance	472	1,459
Impaired Financing Receivable, Recorded Investment	445	1,426
Impaired Financing Receivable, Average Recorded Investment	936	713
Impaired Financing Receivable, Interest Income, Accrual Method		38
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance, with no recorded allowance		952
Recorded Investment, with no recorded allowance		948
Average Recorded Investment, with no recorded allowance	474	474
Interest Income Recognized, with no recorded allowance		38
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance, with no recorded allowance	472	507
Recorded Investment, with no recorded allowance	445	478
Average Recorded Investment, with no recorded allowance	$ 462	$ 239

Total past due loans and nonacc

Total past due loans and nonaccrual loans (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Financing Receivable, Past Due [Line Items]
Loans	$ 401,727	$ 345,112
Nonaccrual loans	985	2,087
Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	2,734	3,167
Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	638	1,047
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	219	904
Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	3,591	5,118
Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	398,136	339,994
Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans	397,195	341,619
Nonaccrual loans	985	2,087
Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	2,734	3,167
Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	638	1,047
Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	219	904
Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	3,591	5,118
Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	393,604	336,501
Commercial And Industrial Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans	3,326	2,313
Commercial And Industrial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	3,326	2,313
Consumer And Other Loans Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans	1,206	1,180
Consumer And Other Loans Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	1,206	1,180
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans	310,347	276,410
Nonaccrual loans	416	1,401
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	2,372	2,632
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	560	891
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	173	696
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	3,105	4,219
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	307,242	272,191
Real Estate Multi Family Loan [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans	341	368
Nonaccrual loans		208
Real Estate Multi Family Loan [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans		208
Real Estate Multi Family Loan [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans		208
Real Estate Multi Family Loan [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	341	160
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans	7,978	4,803
Nonaccrual loans	46
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	42	17
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	46
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	88	17
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	7,890	4,786
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans	25,783	24,629
Nonaccrual loans	523	478
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	320	82
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	78	156
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	398	238
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	25,385	24,391
Real Estate Agricultural [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans	2,485	2,573
Real Estate Agricultural [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	2,485	2,573
Real Estate Construction And Land Loan [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Loans	50,261	32,836
Real Estate Construction And Land Loan [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans		436
Real Estate Construction And Land Loan [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans		436
Real Estate Construction And Land Loan [Member] | Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Loans	$ 50,261	$ 32,400

Total loans by risk grade and p

Total loans by risk grade and portfolio segment at March 31, 2023: (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	$ 401,727	$ 345,112
Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	397,837	335,860
Pass Watch [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,790	3,165
Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	743	2,600
Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,357	3,487
Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	397,195	341,619
Real Estate Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	393,305	332,367
Real Estate Portfolio Segment [Member] | Pass Watch [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,790	3,165
Real Estate Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	743	2,600
Real Estate Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,357	3,487
Commercial And Industrial Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	3,326	2,313
Commercial And Industrial Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	3,326	2,313
Consumer And Other Loans Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,206	1,180
Consumer And Other Loans Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,206	1,180
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	310,347	276,410
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	307,326	268,631
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member] | Pass Watch [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,567	2,806
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	713	2,412
Real Estate One-to-Four Family Loan [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	741	2,561
Real Estate Multi Family Loan [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	341	368
Real Estate Multi Family Loan [Member] | Real Estate Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	341	160
Real Estate Multi Family Loan [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans		208
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	7,978	4,803
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	7,871	4,603
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member] | Pass Watch [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	61	193
Home Equity Line of Credit [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	46	7
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	25,783	24,629
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	25,213	23,763
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans		188
Commercial Real Estate [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	570	678
Real Estate Agricultural [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	2,485	2,573
Real Estate Agricultural [Member] | Real Estate Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	2,485	2,573
Real Estate Construction And Land Loan [Member] | Real Estate Portfolio Segment [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	50,261	32,836
Real Estate Construction And Land Loan [Member] | Real Estate Portfolio Segment [Member] | Pass [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	50,069	32,637
Real Estate Construction And Land Loan [Member] | Real Estate Portfolio Segment [Member] | Pass Watch [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	162	166
Real Estate Construction And Land Loan [Member] | Real Estate Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	$ 30
Real Estate Construction And Land Loan [Member] | Real Estate Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans		$ 33

At March 31, 2023 and June 30,

At March 31, 2023 and June 30, 2022, advances from the Federal Home Loan Bank were as follows: (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
FHLB Advances	$ 42,000	$ 9,000
Stated percentage of Federal Home Loan Bank Advances	4.87%	1.74%
Minimum [Member]
Stated percentage of Federal Home Loan Bank Advances	1.59%	1.40%
Maximum [Member]
Stated percentage of Federal Home Loan Bank Advances	5.37%	2.05%

Payments over the next five fis

Payments over the next five fiscal years are as follows: (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2023	$ 39,500
2025	$ 2,500

BORROWINGS (Details Narrative)

BORROWINGS (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Debt Instrument [Line Items]
Stated percentage of Federal Home Loan Bank Advances	4.87%	1.74%
Federal Home Loan Bank remaining availability	$ 141,640
Federal Home Loan Bank Advances [Member]
Debt Instrument [Line Items]
FHLB advances collateralized by investment securities	$ 51,469	$ 14,779

Assets measured at fair value o

Assets measured at fair value on a recurring basis at March 31, 2023 and June 30, 2022 are summarized below: (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	$ 138,013	$ 151,299
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	138,013	151,299
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan servicing rights	386	345
FHLMC Common Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities	33	34
Certificates of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities		1,249
US States and Political Subdivisions Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities	8,332	16,597
Collateralized Mortgage Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities	11,074	13,064
Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities	108,083	109,604
US Government Agencies Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities	10,491	10,751
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	138,013	151,299
Total financial assets	138,013	151,299
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan servicing rights	386	345
Total financial assets	386	345
Fair Value, Recurring [Member] | FHLMC Common Stock [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Securities	33	34
Fair Value, Recurring [Member] | Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities		1,249
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities	8,332	16,597
Fair Value, Recurring [Member] | Collateralized Mortgage Obligations [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities	11,074	13,064
Fair Value, Recurring [Member] | Mortgage-Backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities	108,083	109,604
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities	$ 10,491	$ 10,751

The table below presents a reco

The table below presents a reconciliation of all Level 3 assets measured at fair value on a recurring basis using significant unobservable inputs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Balance at beginning of period:	$ 364	$ 302	$ 345	$ 305
Unrealized net gains/(losses) included in net income	22	42	41	39
Balance at end of period:	$ 386	$ 344	$ 386	$ 344

The table below presents the va

The table below presents the valuation methodology and unobservable inputs for Level 3 assets measured at fair value at March 31, 2023 and June 30, 2022. (Details) - Fair Value, Nonrecurring [Member] - Valuation Technique, Discounted Cash Flow [Member] $ in Thousands	Mar. 31, 2023 USD ($) Number	Jun. 30, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan servicing rights | $	$ 386	$ 345
Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan servicing rights, measurement input	0.1088
Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan servicing rights, measurement input	0.1138

The estimated fair values of th

The estimated fair values of the Company’s remaining on-balance sheet financial instruments at March 31, 2023 and June 30, 2022 are summarized below: (Details) - USD ($) $ in Thousands		Mar. 31, 2023	Jun. 30, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available-for-sale		$ 138,013	$ 151,299
Loans held for sale			152
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available-for-sale		138,013	151,299
Deposits		465,168	454,970
FHLB Advances		41,863	8,868
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, net	[1]	376,420	325,859
Loans held for sale	[2]		152
Loan servicing rights		386	345
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available-for-sale		138,013	151,299
Loans, net	[1]	400,238	343,773
Loans held for sale	[2]		152
Loan servicing rights		386	345
Restricted equity securities		2,651	1,189
Deposits		470,955	459,682
FHLB Advances		42,000	9,000
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available-for-sale		138,013	151,299
Loans, net	[1]	376,420	325,859
Loans held for sale	[2]		152
Loan servicing rights		386	345
Deposits		465,168	454,970
FHLB Advances		$ 41,863	$ 8,868
[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, 2023 and June 30, 2022 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.

Shares held by the ESOP at Marc

Shares held by the ESOP at March 31, 2023 and June 30, 2022 were as follows: (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Employee Stock Ownership Plan
Committed to be released to participants		5,355
Allocated to participants	168,630	163,220
Unearned		5,354
Total ESOP shares	168,630	173,929
Fair value of unearned shares		$ 76

EMPLOYEE STOCK OWNERSHIP PLAN_2

EMPLOYEE STOCK OWNERSHIP PLAN (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2011
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Employee stock ownership plan, employer loan for shares (in shares)					248,842
Common stock share price (in dollars per share)					$ 10
Compensation expense recognized			$ 56,000	$ 290,000
Employee Stock Ownership Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Compensation expense recognized	$ 0	$ 62,000	$ 3,000	$ 252,000

The following table summarizes

The following table summarizes stock option activity for the nine months ended March 31, 2023: (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Mar. 31, 2023		Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
Outstanding - beginning of year (in shares)	49,900		131,901
Outstanding - beginning of year (in dollars per share)	$ 22.48		$ 15.70
Granted (in shares)
Granted (in dollars per share)
Exercised (in shares)	(6,000)		(82,001)
Exercised (in dollars per share)	$ 19.40		$ 11.58
Outstanding - end of period (in shares)	43,900		49,900
Outstanding - end of period (in dollars per share)	$ 22.90		$ 22.48
Outstanding - end of period		[1]	$ 126	[2]
Fully vested and exercisable at end of period (in shares)	32,700		34,100
Fully vested and exercisable at end of period (in dollars per share)	$ 22.20		$ 21.40
Fully vested and exercisable at end of period		[1]	$ 123	[2]
Expected to vest in future periods (in shares)	11,200		15,800
Fully vested and expected to vest - end of period (in shares)	43,900		49,900
Fully vested and expected to vest - end of period (in dollars per share)	$ 22.90		$ 22.48
Fully vested and expected to vest - end of period		[1]	$ 126	[2]
Closing price of common stock (in dollars per share)	$ 18.50		$ 25
[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 $ 18.50 25.00

The following table summarize_2

The following table summarizes non-vested restricted stock activity for the nine months ended March 31, 2023 and March 31, 2022. (Details) - $ / shares	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]
Balance - beginning of year	9,700	14,300
Granted
Forfeited
Vested	(500)	(2,300)
Balance - end of period	9,200	12,000
Weighted average grant date fair value	$ 23.16	$ 23

STOCK BASED COMPENSATION (Detai

STOCK BASED COMPENSATION (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022	Apr. 05, 2012
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares authorized (in shares)					435,472
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares authorized (in shares)					124,420
Stock-based compensation expense	$ 14	$ 18	$ 46	$ 67
Expected period for recognition			3 years 2 months 12 days
Unrecognized compensation expense for nonvested restricted stock awards	172		$ 172
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares authorized (in shares)					311,052
Options earned (in shares)			3,302	4,071
Stock-based compensation expense	4	$ 5	$ 13	$ 15
Total unrecognized compensation cost related to stock options	$ 37		$ 37
Expected period for recognition			2 years 9 months 18 days

The principal balances of those

The principal balances of those loans at March 31, 2023 and June 30, 2022 are as follows: (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 30, 2022
Transfers and Servicing [Abstract]
Mortgage loan portfolio serviced for: FHLMC	$ 35,669	$ 39,476

Activity for loan servicing rig

Activity for loan servicing rights for the three and nine months ended March 31, 2023 and 2022 is as follows: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Loan servicing rights:
Beginning of period:	$ 364	$ 302	$ 345	$ 305
Change in fair value	22	42	41	39
End of period:	$ 386	$ 344	$ 386	$ 344

LOAN SERVICING RIGHTS (Details

LOAN SERVICING RIGHTS (Details Narrative) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Custodial escrow balances	$ 341		$ 453
Discount rate	11.38%	9.75%
Weighted average default rate	3%	4%
Minimum [Member]
Prepayment speed assumption	3.57%	7.09%
Maximum [Member]
Prepayment speed assumption	12.49%	11.30%

Supplemental cash flow inform_3

Supplemental cash flow information for the nine months ended March 31, 2023 and 2022 is as follows: (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash paid during the period for:
Interest paid	$ 2,488	$ 861
Income taxes paid	1,095	580
Supplemental noncash disclosures:
Transfers from loans to real estate owned	106
Change in unrealized gain/loss on securities available-for-sale	$ (4,056)	$ (11,715)

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - $ / shares		3 Months Ended		9 Months Ended
	Apr. 27, 2023	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2023	Mar. 31, 2022
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)		$ 0.10	$ 0.10	$ 0.30	$ 0.30
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)	$ 0.10
Dividends payable, date of record	May 11, 2023
Dividends payable, payment date	May 25, 2023