PB Bancorp (PBBI) 10-Q 12 Nov 19 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2019	Nov. 01, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	PB Bancorp, Inc.
Entity Central Index Key	0001652106
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--06-30
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		7,447,204
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Interactive Data Current	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
ASSETS
Cash and due from depository institutions	$ 2,032	$ 2,173
Interest-bearing demand deposits with other banks	42,424	23,499
Total cash and cash equivalents	44,456	25,672
Securities available-for-sale, at fair value	37,035	38,919
Securities held-to-maturity (fair value of $58,545 as of September 30, 2019 and $63,858 as of June 30, 2019)	58,092	63,480
Federal Home Loan Bank stock, at cost	3,464	3,464
Loans	375,554	381,080
Less: Allowance for loan losses	(3,212)	(3,063)
Net loans	372,342	378,017
Premises and equipment, net	3,082	3,062
Accrued interest receivable	1,400	1,559
Other real estate owned	1,327	1,271
Goodwill	6,912	6,912
Bank-owned life insurance	13,355	13,267
Net deferred tax asset	386	443
Other assets	2,322	1,964
Total assets	544,173	538,030
Deposits
Non-interest-bearing	72,112	73,764
Interest-bearing	320,329	310,095
Total deposits	392,441	383,859
Mortgagors' escrow accounts	1,701	3,371
Federal Home Loan Bank advances	60,132	62,145
Securities sold under agreements to repurchase	1,618	804
Other liabilities	2,497	2,779
Total liabilities	458,389	452,958
Stockholders' Equity
Preferred stock, 50,000,000 shares authorized, $0.01 par value, no shares issued and outstanding
Common stock, 100,000,000 shares authorized, $0.01 par value, 7,447,204 shares issued and outstanding at September 30, 2019 and June 30, 2019.	74	74
Additional paid-in capital	58,649	58,598
Retained earnings	31,073	30,638
Accumulated other comprehensive loss	(155)	(269)
Unearned ESOP shares	(3,109)	(3,146)
Unearned stock awards	(748)	(823)
Total stockholders' equity	85,784	85,072
Total liabilities and stockholders' equity	$ 544,173	$ 538,030

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Consolidated Balance Sheets
Securities held-to-maturity, fair value (in dollars)	$ 58,545	$ 63,858
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued	7,447,204	7,447,204
Common stock, shares outstanding	7,447,204	7,447,204

Consolidated Statements of Net

Consolidated Statements of Net Income - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Interest and dividend income:
Interest and fees on loans	$ 3,986	$ 3,575
Interest and dividends on investments	711	866
Other	170	43
Total interest and dividend income	4,867	4,484
Interest expense:
Deposits and escrow	804	557
Borrowed funds	297	304
Total interest expense	1,101	861
Net interest and dividend income	3,766	3,623
Provision (credit) for loan losses	150	(600)
Net interest and dividend income after provision (credit) for loan losses	3,616	4,223
Non-interest income:
Total other-than-temporary impairment losses on debt securities	(199)
Portion of losses recognized in other comprehensive income	152
Net impairment losses recognized in earnings	(47)
Net commissions from brokerage services	49	25
Income from bank-owned life insurance	88	89
Gain on sales of other real estate owned, net	97	21
Other income	47	60
Total non-interest income	734	669
Non-interest expense:
Compensation and benefits	2,063	1,928
Occupancy and equipment	310	311
Data processing	300	297
LAN/WAN network	22	25
Advertising and marketing	41	34
FDIC deposit insurance		38
Other real estate owned	30	64
Write-down of other real estate owned		91
Other	445	418
Total non-interest expense	3,211	3,206
Income before income tax expense	1,139	1,686
Income tax expense	183	295
NET INCOME	$ 956	$ 1,391
Earnings per common share:
Basic (in dollars per share)	$ 0.14	$ 0.19
Diluted (in dollars per share)	$ 0.14	$ 0.19
Weighted average common shares outstanding:
Basic (in shares)	7,059,885	7,218,179
Diluted (in shares)	7,071,949	7,226,790
Non-interest income fees for services
Non-interest income:
Fees for services mortgage banking activities	$ 490	$ 470
Non-interest income mortgage banking activities
Non-interest income:
Fees for services mortgage banking activities	$ 10	$ 4

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands		3 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Consolidated Statements of Comprehensive Income
Net income		$ 956	$ 1,391
Other comprehensive income (loss):
Net unrealized holding gains (losses) on available-for-sale securities		251	(136)
Reclassification adjustment for losses on available-for-sale securities realized in income on (1)	[1]	47
Non-credit portion of other-than-temporary losses on available-for-sale securities		(152)
Other comprehensive income (loss) before tax		146	(136)
Income tax (loss) benefit related to other comprehensive income (loss)		(32)	29
Other comprehensive income (loss) net of tax		114	(107)
Total comprehensive income		$ 1,070	$ 1,284
[1]	Reported in net impairment losses recognized in earnings, included in non-interest income on the consolidated statements of net income. There was no income tax benefit associated with the reclassification adjustments.

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Unearned ESOP Shares	Unearned Stock Awards	Total
Balance at Jun. 30, 2018	$ 76	$ 60,329	$ 28,822	$ (522)	$ (3,293)	$ (1,123)	$ 84,289
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income			1,391	(107)			1,284
Cash dividends declared and paid ($0.06 and $0.07 per share for September 2018 and 2019)			(458)				(458)
ESOP shares committed to be released (4504 and 4505 shares for September 2018 and 2019)		16			37		53
Common stock repurchased (1,000 shares)		(11)					(11)
Share-based compensation expense		43				75	118
Balance at Sep. 30, 2018	76	60,377	29,755	(629)	(3,256)	(1,048)	85,275
Balance at Jun. 30, 2019	74	58,598	30,638	(269)	(3,146)	(823)	85,072
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income			956	114			1,070
Cash dividends declared and paid ($0.06 and $0.07 per share for September 2018 and 2019)			(521)				(521)
ESOP shares committed to be released (4504 and 4505 shares for September 2018 and 2019)		15			37		52
Share-based compensation expense		36				75	111
Balance at Sep. 30, 2019	$ 74	$ 58,649	$ 31,073	$ (155)	$ (3,109)	$ (748)	$ 85,784

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2019
Consolidated Statements of Changes in Stockholders' Equity
Cash dividends declared and paid (in dollars per share)	$ 0.06	$ 0.07
Number of ESOP shares committed to be released	4,504	4,505
Shares of common stock repurchased	1,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net income	$ 956	$ 1,391
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities premiums, net	97	113
Impairment losses on securities	47
Amortization of deferred loan costs, net	64	84
Provision (credit) for loan losses	150	(600)
Gain on sale of other real estate owned, net	(97)	(21)
Write-down of other real estate owned		91
Depreciation and amortization - premises and equipment	83	83
Amortization - software	2	1
Increase in accrued interest receivable and other assets	(201)	(767)
Income from bank-owned life insurance	(88)	(89)
Decrease in other liabilities	(282)	(403)
Share-based compensation expense	111	118
Deferred tax expense	25	850
ESOP expense	52	53
Net cash provided by operating activities	919	904
Cash flows from investing activities
Proceeds from calls, pay downs and maturities of available-for-sale securities	1,940	1,834
Proceeds from calls, pay downs and maturities of held-to-maturity securities	5,334	5,827
Net loan principal repayments	7,151	4,062
Loan purchases	(1,955)
Recoveries of loans previously charged off	8	571
Proceeds from sale of other real estate owned	298	126
Capital expenditures - premises and equipment	(103)	(7)
Net cash provided by investing activities	12,673	12,413
Cash flows from financing activities
Net increase (decrease) in deposit accounts	8,582	(4,444)
Net decrease in mortgagors' escrow accounts	(1,670)	(1,625)
Repayment of long-term Federal Home Loan Bank advances	(2,013)	(1,013)
Net increase in securities sold under agreements to repurchase	814	862
Cash dividends paid on common stock	(521)	(458)
Common stock repurchased		(11)
Net cash provided by (used in) financing activities	5,192	(6,689)
Net increase in cash and cash equivalents	18,784	6,628
Cash and cash equivalents at beginning of year	25,672	10,102
Cash and cash equivalents at end of period	44,456	16,730
Cash paid during the period for:
Interest	1,008	803
Income taxes paid	351	1
Loans transferred to other real estate owned	$ 257	$ 156

Organization

Organization	3 Months Ended
	Sep. 30, 2019
Organization
Organization	NOTE 1 – Organization PB Bancorp, Inc. (the “Company”) is a Maryland corporation incorporated in 2015 to be the successor to PSB Holdings, Inc. upon completion of the second-step mutual-to-stock conversion (the “Conversion”) of Putnam Bancorp, MHC (the “MHC”), the top tier mutual holding company of PSB Holdings, Inc. PSB Holdings, Inc. was the former mid-tier holding company for Putnam Bank (the “Bank”). Prior to completion of the Conversion, a majority of the shares of common stock of PSB Holdings, Inc. were owned by the MHC. In conjunction with the Conversion, the MHC and PSB Holdings, Inc. merged into the Company and the Company became PSB Holdings, Inc.’s successor. The Conversion was completed on January 7, 2016. The Company raised gross proceeds of $33.7 million in the related stock offering. Concurrent with the completion of the stock offering, each share of PSB Holdings, Inc. stock owned by public stockholders (stockholders other than the MHC) was exchanged for 1.1907 shares of Company common stock. The Conversion was accounted for as a capital raising transaction by entities under common control. The historical financial results of the MHC were immaterial to the results of the Company and therefore the net assets of the MHC were reflected as an increase to stockholders’ equity. Acquisition On October 22, 2019, the Company, Putnam Bank and Centreville Bank announced they had entered into a definitive agreement under which Centreville Bank will acquire the Company and Putnam Bank in an all cash transaction valued at approximately $115.5 million. The Company's stockholders will receive $15.25 for each share of Company common stock that they own. The transaction is expected to close in the first or second quarter of 2020 and is subject to customary closing conditions, including the approval of the Company's stockholders and required regulatory approvals. However, it is possible that factors outside the control of both companies, including whether or when the required regulatory approvals will be received, could result in the merger being completed at a different time or not at all.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2019
Basis of Presentation
Basis of Presentation	NOTE 2 – Basis of Presentation The accompanying unaudited consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial statements and the instructions to Form 10‑Q, and accordingly do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, the accompanying unaudited consolidated financial statements reflect all adjustments necessary, consisting of only normal recurring accruals and the elimination of all significant intercompany accounts, to present fairly the financial position, results of operations and cash flows of the Company for the periods presented. The interim results of operations are not necessarily indicative of the operating results to be expected for future periods, including the fiscal year ending June 30, 2020. These financial statements should be read in conjunction with the 2019 consolidated financial statements and notes thereto included in PB Bancorp, Inc.’s Annual Report on Form 10‑K filed with the Securities and Exchange Commission (‘‘SEC’’) on September 26, 2019.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Sep. 30, 2019
Recent Accounting Pronouncements
Recent Accounting Pronouncements	NOTE 3 – Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016‑02, Leases (Topic 842), which supersedes the requirements in Topic 840, Leases. The objective of Topic 842 is to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. The core principle of Topic 842 is that a lessee should recognize the assets and liabilities that arise from leases. The amendments in this Update are effective for companies that qualify as "smaller reporting companies" under SEC regulations, like the Company, fiscal years beginning after December 31, 2018, including interim periods within those fiscal years. Early application of the amendments in this Update is permitted for all entities. Based on the current level of long-term leases in place, adoption of this guideline was not material to the Company’s results of operations or financial position. In June 2016, the FASB issued ASU No. 2016‑13, Financial Instruments—Credit Losses (Topic 326), which requires entities to measure all expected credit losses for certain financial assets (such as loans and held-to-maturity securities) held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Entities will now use forward-looking information to better form their credit loss estimates. The ASU also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. The amendments in this Update are effective for companies that qualify as "smaller reporting companies" under SEC regulations, like the Company, fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early application will be permitted for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. However, the FASB recently voted to propose delaying the standard by three years for small reporting companies, which includes Putnam Bank. Management is currently working to implement these requirements to determine the potential impact on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017‑04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The amendments in this update simplify the subsequent measurement of goodwill by eliminating Step 2 from the goodwill impairment test. Instead, an entity will be required to perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity will recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized will not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity will consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. For public business entities, the amendments are effective for annual and any interim goodwill impairment tests in fiscal years beginning after December 15, 2020. Early adoption is permitted. We do not expect the application of this guidance to have a material impact on our consolidated financial statements. In August 2018, the FASB issued ASU 2018‑13, Fair Value Measurement (Topic 820), which amends the disclosure requirements by adding, changing, or removing certain disclosures about recurring or non-recurring fair value measurements. This ASU will be effective for public business entities for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of this update will not have a significant impact on the consolidated financial statements.

Critical Accounting Policies

Critical Accounting Policies	3 Months Ended
	Sep. 30, 2019
Critical Accounting Policies
Critical Accounting Policies	Note 4 - Critical Accounting Policies Critical accounting policies are those that involve significant judgments and assumptions by management that have, or could have, a material impact on our income or the carrying value of our assets. Our critical accounting policies are those related to the allowance for loan losses, realizability of deferred income taxes, valuation of goodwill and the impairment of securities. Allowance for Loan Losses . The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. The allowance for loan losses is evaluated on a quarterly basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general, specific and unallocated components, as further described below. General component The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: residential real estate, commercial real estate, residential construction, commercial and consumer/other. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels/trends in delinquencies; trends in volume and terms of loans; concentrations; changes in lending policies and procedures; experience/ability/depth of lending management and staff; loan rating migration; the effect of other external factors; changes in the value of underlying collateral; changes in the loan review system and national and local economic trends and conditions. The Company calculates historical losses using a five-year rolling average, which is considered indicative of the risk in the Company’s current loan portfolio. There were no changes in the Company’s policies or methodology pertaining to the general component of the allowance for loan losses through September 30, 2019. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Residential real estate - The Company does not originate loans with a loan-to-value ratio greater than 100% and does not originate subprime loans. Loans originated with a loan-to-value ratio greater than 80% generally require private mortgage insurance. All loans in this segment are collateralized by owner-occupied residential real estate and repayment is dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. Commercial real estate - Loans in this segment are primarily income-producing properties throughout New England. The underlying cash flows generated by the properties may be adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, would have an effect on the credit quality in this segment. Management obtains rent rolls annually and continually monitors the cash flows of these loans. Residential construction – Loans in this segment include speculative real estate development loans for which payment is derived from sale of the property. Credit risk is affected by the accuracy of estimated costs to complete the project, cost overruns, time to sell at an adequate price, and market conditions. Commercial – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer spending, will have an effect on the credit quality in this segment. Consumer/other - Loans in this segment are generally unsecured and repayment is dependent on the credit quality of the individual borrower. Specific component The specific component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent or foreclosure is probable. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer/other and residential real estate loans for impairment disclosures, unless such loans are non-accrual or subject to a troubled debt restructuring (“TDR”) agreement. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company periodically may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring ("TDR"). All TDRs are classified as impaired. Unallocated component An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general reserves in the portfolio. Goodwill . Goodwill is measured as the excess of the cost of a business acquisition over the sum of the amounts assigned to identifiable tangible and intangible assets acquired less liabilities assumed. Goodwill is not amortized but is subject to a review of qualitative factors annually or more frequently if circumstances warrant, to determine if an impairment test is required. If required, the Company uses the following two-step approach for reviewing goodwill for impairment: The first step (“Step 1”) is used to identify potential impairment, and involves comparing the reporting unit’s (the consolidated Company) estimated fair value to its carrying amount, including goodwill. If the estimated fair value of the reporting unit exceeds its carrying amount, goodwill is not deemed to be impaired. Should the carrying amount of the reporting unit exceed its estimated fair value, an indicator of impairment is deemed to exist and a second step is performed to measure the amount of such impairment, if any. The second step (“Step 2”) involves calculating the implied fair value of goodwill. The implied fair value of goodwill is determined in a manner similar to how the amount of goodwill is determined in a business combination (i.e. by measuring the excess of the estimated fair value, as determined in Step 1, over the aggregate estimated fair values of the individual assets, liabilities, and identifiable intangibles as of the impairment testing date). If the implied fair value of goodwill exceeds the carrying amount of goodwill assigned to the reporting unit, no impairment exists. If the carrying amount of goodwill exceeds the implied fair value of the goodwill, an impairment loss is recorded in an amount equal to such excess. An impairment loss cannot exceed the carrying amount of goodwill, and the loss (write-down) establishes a new carrying amount for the goodwill. Subsequent reversal of goodwill impairment losses is not permitted. Application of the goodwill impairment test requires significant judgments including estimation of future cash flows, which are dependent on internal forecasts, estimation of the long-term rate of growth, the period over which cash flows will occur, and determination of our cost of capital. Changes in these estimates and assumptions could materially affect the determination of fair value and/or conclusions related to goodwill impairment. Other-Than-Temporary Impairment of Securities. Each reporting period, the Company evaluates all securities classified as available-for-sale or held-to-maturity with a decline in fair value below the amortized cost of the investment to determine whether or not the impairment is deemed to be other-than-temporary (“OTTI”). OTTI is required to be recognized if (1) the Company intends to sell the security; (2) it is “more likely than not” that the Company will be required to sell the security before recovery of its amortized cost basis; or (3) for debt securities, the present value of expected cash flows is not sufficient to recover the entire amortized cost basis. For impaired debt securities that the Company intends to sell, or more likely than not will be required to sell, the full amount of the depreciation is recognized as OTTI through earnings. For all other impaired debt securities, credit-related OTTI is recognized through earnings and non-credit related OTTI is recognized in other comprehensive income, net of applicable taxes. Income Taxes. The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are established for the temporary differences between the accounting basis and the tax basis of the Company’s assets and liabilities at enacted rates expected to be in effect when the amounts related to such temporary differences are realized or settled. A valuation allowance is established against deferred tax assets when, based upon the available evidence including historical and projected taxable income, it is more likely than not that some or all of the deferred tax assets will not be realized. Management has discussed the development and selection of these critical accounting policies with the Audit Committee.

Earnings Per Share (EPS)

Earnings Per Share (EPS)	3 Months Ended
	Sep. 30, 2019
Earnings Per Share (EPS)
Earnings Per Share (EPS)	NOTE 5 – Earnings Per Share (EPS) Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. The rights to dividends on unvested options/awards are non-forfeitable, therefore the unvested awards/options are considered outstanding in the computation of basic earnings per share. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. For purposes of computing diluted EPS, the treasury stock method is used. The following information was used in the computation of EPS on both a basic and diluted basis for the three months ended September 30, 2019: Three months ended September 30, 2019 2018 Net income $ 956,000 $ 1,391,000 Weighted average common shares applicable to basic EPS 7,059,885 7,218,179 Effect of dilutive potential common shares 12,064 8,611 Weighted average common shares applicable to diluted EPS 7,071,949 7,226,790 Earnings per share: Basic $ 0.14 $ 0.19 Diluted $ 0.14 $ 0.19 For the three months ended September 30, 2019 and 2018, there were no antidilutive options not being included in the computation of diluted earnings per share.

Investment Securities

Investment Securities	3 Months Ended
	Sep. 30, 2019
Investment Securities
Investment Securities	NOTE 6 – Investment Securities The carrying value, estimated fair values, and gross unrealized gains and losses of investment securities by maturity and type are as follows: Amortized Gross Unrealized Fair Cost Basis Gains (Losses) Value (in thousands) September 30, 2019: Available-for-sale: Debt securities: U.S. government and government-sponsored securities: After ten years $ 2,088 $ — $ (68) $ 2,020 Corporate bonds: Due from five through ten years 3,999 — (307) 3,692 U.S. Government-sponsored and guaranteed mortgage-backed securities: Due from one through five years 4,505 16 (3) 4,518 From five through ten years 1,085 — (3) 1,082 After ten years 13,167 111 (62) 13,216 18,757 127 (68) 18,816 Non-agency mortgage-backed securities: Due after ten years 2,386 398 (277) 2,507 Other debt securities: Auction rate preferred: Due from five through ten years 8,000 — — 8,000 After ten years 2,000 — — 2,000 10,000 — — 10,000 Total available-for-sale securities $ 37,230 $ 525 $ (720) $ 37,035 Held-to-maturity: U.S. government and government-sponsored securities: Due in one year or less $ 3,991 $ 19 $ — $ 4,010 After ten years 4,150 32 — 4,182 8,141 51 — 8,192 State agency and municipal obligations From one through five years 439 — — 439 U.S. Government-sponsored and guaranteed mortgage-backed securities: Due from one through five years 329 7 — 336 From five through ten years 9,627 66 (26) 9,667 After ten years 39,556 492 (137) 39,911 49,512 565 (163) 49,914 Total held-to-maturity securities $ 58,092 $ 616 $ (163) $ 58,545 Amortized Gross Unrealized Fair Cost Basis Gains (Losses) Value (in thousands) June 30, 2019: Available-for-sale: Debt securities: U.S. government and government-sponsored securities: Due after ten years $ 2,310 $ — $ (68) $ 2,242 Corporate bonds: Due from five through ten years 3,999 — (323) 3,676 U.S. Government-sponsored and guaranteed mortgage-backed securities: Due from one through five years 5,066 13 (5) 5,074 From five through ten years 1,147 — (5) 1,142 After ten years 14,235 118 (117) 14,236 20,448 131 (127) 20,452 Non-agency mortgage-backed securities: Due after ten years 2,503 410 (340) 2,573 Other debt securities: Auction rate preferred: Due from five through ten years 8,000 — (24) 7,976 After ten years 2,000 — — 2,000 10,000 — (24) 9,976 Total available-for-sale securities $ 39,260 $ 541 $ (882) $ 38,919 Held-to-maturity: U.S. government and government-sponsored securities: Due in one year or less $ 4,000 $ — $ (4) $ 3,996 From one through five years 989 22 — 1,011 After ten years 4,379 — (2) 4,377 9,368 22 (6) 9,384 State agency and municipal obligations Due from one through five years 440 — (2) 438 U.S. Government-sponsored and guaranteed mortgage-backed securities: Due from one through five years 411 9 — 420 From five through ten years 9,636 24 (37) 9,623 After ten years 43,625 543 (175) 43,993 53,672 576 (212) 54,036 Total held-to-maturity securities $ 63,480 $ 598 $ (220) $ 63,858 There were no sales of available-for-sale securities for the three months ended September 30, 2019 and 2018. Gains and losses on the sales of securities are recorded on the trade date and are determined using the specific identification method. There were other-than-temporary impairment charges on available-for-sale securities realized in income during the three months ended September 30, 2019 of $47,000 and no other-than-temporary charges during the three months ended September 30, 2018. The write-downs for the three months ended September 30, 2019 included total other-than-temporary impairment losses on non-agency mortgage-backed securities of $199,000, net of $152,000 recognized in other comprehensive loss, before taxes. The following is a summary of the estimated fair value and related unrealized losses segregated by category and length of time that individual securities have been in a continuous unrealized loss position at: Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) September 30, 2019: Available-for-sale: U.S. Government and government-sponsored securities $ — $ — $ 2,020 $ 68 $ 2,020 $ 68 Corporate bonds — — 3,692 307 3,692 307 U.S. Government-sponsored and guaranteed mortgage-backed securities 2,266 12 5,944 56 8,210 68 Total temporarily impaired available-for-sale 2,266 12 11,656 431 13,922 443 Held-to-maturity: U.S. Government and government-sponsored securities — — 1,000 — 1,000 — State and political subdivisions 439 — — — 439 — U.S. Government-sponsored and guaranteed mortgage-backed securities 6,427 23 17,585 140 24,012 163 Total temporarily impaired held-to-maturity 6,866 23 18,585 140 25,451 163 Other-than-temporarily impaired debt securities (1): Non-agency mortgage-backed securities 265 12 952 265 1,217 277 Total temporarily-impaired and other- than-temporarily impaired securities $ 9,397 $ 47 $ 31,193 $ 836 $ 40,590 $ 883 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) June 30, 2019: Available-for-sale: U.S. Government and government-sponsored securities $ — $ — $ 2,242 $ 68 $ 2,242 $ 68 Corporate bonds — — 3,676 323 3,676 323 U.S. Government-sponsored and guaranteed mortgage-backed securities 1,425 7 13,576 120 15,001 127 Other securities 2,976 24 — — 2,976 24 Total temporarily impaired available-for-sale 4,401 31 19,494 511 23,895 542 Held-to-maturity: U.S. Government and government-sponsored securities — — 8,373 6 8,373 6 State and political subdivisions — — 438 2 438 2 U.S. Government-sponsored and guaranteed mortgage-backed securities — — 29,400 212 29,400 212 Total temporarily impaired held-to-maturity — — 38,211 220 38,211 220 Other-than-temporarily impaired debt securities (1): Non-agency mortgage-backed securities 268 11 947 329 1,215 340 Total temporarily-impaired and other- than-temporarily impaired securities $ 4,669 $ 42 $ 58,652 $ 1,060 $ 63,321 $ 1,102 (1) Includes other-than-temporary impaired available-for-sale debt securities in which a portion of the other-than-temporary impairment loss remains in accumulated other comprehensive loss. Management evaluates securities for OTTI at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. At September 30, 2019, there were 50 individual investment securities with aggregate depreciation of 2.1% from the Company’s amortized cost basis. Management has the intent and ability to hold these securities until cost recovery occurs and considers these declines to be temporary. The unrealized losses on the Company’s investment in U.S. Government-sponsored agency bonds and U.S. government-guaranteed and government-sponsored residential mortgage-backed securities were primarily caused by interest rate fluctuations. These investments are guaranteed or sponsored by the U.S. government or an agency thereof. Accordingly, it is expected that the securities would not be settled at a price less than the par value of the investment. Because the decline in market value is attributable to changes in interest rates and not to credit quality, and because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at September 30, 2019. The Company’s unrealized losses on investments in corporate bonds and other securities relate to investments in companies within the financial services sector. As of September 30, 2019, the Company had three investments in corporate single-issuer trust preferred securities (TRUPs) with a total book value of $4.0 million and total fair value of $3.7 million, all of which were classified as available-for-sale. The single-issuer trust preferred investments are evaluated for other-than-temporary impairment by performing a present value of cash flows calculation each quarter. None of the issuers have deferred interest payments or announced the intention to defer interest payments. The Company believes the decline in fair value is related to the spread over three-month LIBOR, on which the quarterly interest payments are based, as the spread over LIBOR being received is significantly lower than current market spreads. Management concluded the impairment of these investments was considered temporary and asserts that the Company does not have the intent to sell these investments and that it is more likely than not it will not have to sell the investments before recovery of their cost bases which may be at maturity. At September 30, 2019, there was one state and political subdivision security that had an unrealized loss of 0.1% from the Company’s amortized cost basis. We believe the unrealized loss was primarily caused by interest rate fluctuations. This security is guaranteed by a school district located in Texas. Because the decline in market value is attributable to changes in interest rates and not to credit quality, and because the Company does not intend to sell the investment and it is not more likely than not that the Company will be required to sell the investments before recovery of its amortized cost basis, which may be at maturity, the Company does not consider this investment to be other-than-temporarily impaired at September 30, 2019. For the three months ended September 30, 2019, there was $47,000 in other-than-temporary impairment losses recognized in earnings. There were no other-than-temporary impairment losses for the three months ended September 30, 2018. The other-than-temporary impairment losses were on non-agency mortgage-backed securities. The Company estimates the portion of possible loss attributable to credit loss using a discounted cash flow model. Significant inputs include the estimated cash flows of the underlying loans based on key assumptions, such as default rate, loss severity and prepayment rate. Assumptions can vary widely from security to security, and are influenced by such factors as loan interest rate, geographical location of the borrower, borrower characteristics and collateral type. The present value of the expected cash flows is compared to the Company’s amortized cost basis to determine if there was a credit-related impairment loss. Based on the expected cash flows derived from the model, the Company expects to recover the remaining unrealized losses on these securities. The following table represents a roll-forward of the amount of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in other comprehensive loss: Three months ended September 30, 2019 2018 (in thousands) Balance at beginning of period $ 16,016 $ 15,983 Additional credit losses on securities for which an other-than-temporary impairment charge was previously recorded 47 — Balance at end of period $ 16,063 $ 15,983

Loans

Loans	3 Months Ended
	Sep. 30, 2019
Loans
Loans	NOTE 7 – Loans The following table sets forth the composition of our loan portfolio at September 30, 2019 and June 30, 2019: September 30, June 30, 2019 2019 (in thousands) Real Estate: Residential (1) $ 216,101 $ 221,488 Commercial 144,360 145,694 Residential construction 1,974 1,476 Commercial 11,216 10,298 Consumer and other 785 968 Total loans 374,436 379,924 Net deferred loan costs 1,118 1,156 Allowance for loan losses (3,212) (3,063) Loans, net $ 372,342 $ 378,017 (1) Residential real estate loans include one-to four-family mortgage loans, second mortgage loans, and home equity lines of credit. Credit Quality Information The Company utilizes a nine grade internal loan rating system as follows: Loans rated 1 - 5 are considered “pass” rated loans with low to average risk. Loans rated 6 are considered “special mention.” These loans are starting to show signs of potential weakness and are being closely monitored by management. Loans rated 7 are considered “substandard.” Generally, a loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligors and/or the collateral pledged. There is a distinct possibility that the Company will sustain some loss if the weakness is not corrected. Loans rated 8 are considered “doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable. Loans rated 9 are considered uncollectible (“loss”) and of such little value that their continuance as loans is not warranted. On an annual basis, or more often if needed, the Company formally reviews the ratings on all commercial real estate, construction and commercial loans. Annually, the Company engages an independent third party to review a significant portion of loans within these segments. Management uses the results of these reviews as part of its annual review process. Credit quality for residential real estate and consumer/other loans is determined by monitoring loan payment history and ongoing communications with the borrower. The following table presents the Company’s loan classes by internally assigned grades at September 30, 2019 and June 30, 2019: Residential Commercial Residential Consumer Real Estate Real Estate Construction Commercial and other Total (in thousands) September 30, 2019 Grade: Pass $ 211,480 $ 141,541 $ 1,974 $ 10,293 $ 785 $ 366,073 Special Mention 1,384 1,567 — — — 2,951 Substandard 3,237 1,252 — 923 — 5,412 Doubtful — — — — — — Loss — — — — — — Total $ 216,101 $ 144,360 $ 1,974 $ 11,216 $ 785 $ 374,436 June 30, 2019 Grade: Pass $ 217,800 $ 142,829 $ 1,476 $ 9,355 $ 968 $ 372,428 Special Mention — 1,557 — — — 1,557 Substandard 3,688 1,308 — 943 — 5,939 Doubtful — — — — — — Loss — — — — — — Total $ 221,488 $ 145,694 $ 1,476 $ 10,298 $ 968 $ 379,924 Modifications deemed to be troubled debt restructures were not material for the three months ended September 30, 2019 and 2018. There were no material troubled debt restructurings that subsequently defaulted (defined as 30 or more days past due subsequent to restructuring) within one year of modification during the three months ended September 30, 2019 and 2018.

Non-performing Assets, Past Due

Non-performing Assets, Past Due and Impaired Loans	3 Months Ended
	Sep. 30, 2019
Non-performing Assets, Past Due and Impaired Loans
Non-performing Assets, Past Due and Impaired Loans	NOTE 8 – Non-performing Assets, Past Due and Impaired Loans The table below sets forth the amounts and categories of non-performing assets at the dates indicated: At September 30, At June 30, 2019 2019 (Dollars in thousands) Non-accrual loans: Real Estate: Residential $ 3,237 $ 3,530 Commercial 526 260 Consumer — — Total non-accrual loans 3,763 3,790 Accruing loans past due 90 days or more: Real Estate: Residential — 159 Commercial — 279 Total accruing loans past due 90 days or more — 438 Total non-performing loans 3,763 4,228 Other real estate owned 1,327 1,271 Total non-performing assets $ 5,090 $ 5,499 Total non-performing loans to total loans 1.00 % 1.11 % Total non-performing assets to total assets 0.94 % 1.02 % Management is focused on working with borrowers and guarantors to resolve non-accrual loans by restructuring or liquidating assets when prudent. Many of our commercial relationships are secured by development loans, in particular condominiums which have experienced a significant reduction in demand. The Company reviews the strength of the guarantors; requires face to face discussions and offers restructuring suggestions that provide the borrowers with short term relief and exit strategies. The Company obtains a current appraisal on all real estate secured loans that are 180 days or more past due if the appraisal on file is older than one year. If the determination is made that there is the potential for collateral shortfall, an allocated reserve will be assigned to the loan for the expected deficiency. It is the policy of the Company to charge off or write down loans or other assets when, in the opinion of the Credit Committee and Loan Review, the ultimate amount recoverable is less than the carrying value, or the collection of the amount is expected to be unduly prolonged. The level of non-performing assets is expected to fluctuate in response to changing economic and market conditions, and the relative sizes of the respective loan portfolios, along with management’s degree of success in resolving problem assets. The following table sets forth information regarding past due loans at September 30, 2019 and June 30, 2019: 90 days 30–59 Days 60–89 Days or Greater Total Past Due Past Due Past Due Past Due (in thousands) At September 30, 2019 Real Estate: Residential $ 245 $ 392 $ 446 $ 1,083 Commercial — — 278 278 Consumer and other 5 1 — 6 Total $ 250 $ 393 $ 724 $ 1,367 At June 30, 2019 Real Estate: Residential $ 39 $ 397 $ 668 $ 1,104 Commercial — — $ 279 279 Consumer and other 3 — — 3 Total $ 42 $ 397 $ 947 $ 1,386 The following is a summary of information pertaining to impaired loans at September 30, 2019 and June 30, 2019, none of which had a valuation allowance: At September 30, 2019 At June 30, 2019 Unpaid Unpaid Recorded Principal Recorded Principal Investment Balance Investment Balance (in thousands) Real Estate: Residential $ 1,830 $ 1,976 $ 2,150 $ 2,296 Commercial 248 248 260 260 Total impaired loans $ 2,078 $ 2,224 $ 2,410 $ 2,556 The following is a summary of additional information pertaining to impaired loans: Three months ended Three months ended September 30, 2019 September 30, 2018 Average Interest Interest Income Average Interest Interest Income Recorded Income Recognized Recorded Income Recognized Investment Recognized on Cash Basis Investment Recognized on Cash Basis (in thousands) Real Estate: Residential $ 1,990 $ 20 $ 18 $ 2,512 $ 17 $ 14 Commercial 254 — — 824 7 — Total impaired loans $ 2,244 $ 20 $ 18 $ 3,336 $ 24 $ 14

Allowance for Loan Losses

Allowance for Loan Losses	3 Months Ended
	Sep. 30, 2019
Allowance for Loan Losses
Allowance for Loan Losses	NOTE 9 – Allowance for Loan Losses An analysis of the allowance for loan losses for the three months ended September 30, 2019 and 2018 is as follows: Residential Commercial Residential Consumer Real Estate Real Estate Construction Commercial and Other Unallocated Total (in thousands) Three months ended September 30, 2019 Beginning balance $ 1,456 $ 1,418 $ 10 $ 79 $ 28 $ 72 $ 3,063 Charge-offs — — — — (9) — (9) Recoveries 3 — — 3 2 — 8 Provision 92 25 4 9 1 19 150 Ending Balance $ 1,551 $ 1,443 $ 14 $ 91 $ 22 $ 91 $ 3,212 Three months ended September 30, 2018 Beginning balance $ 1,385 $ 1,194 $ 14 $ 80 $ 135 $ 135 $ 2,943 Charge-offs — — — — (8) — (8) Recoveries 5 560 — 2 4 — 571 (Credit) provision 98 (660) (7) (5) — (26) (600) Ending Balance $ 1,488 $ 1,094 $ 7 $ 77 $ 131 $ 109 $ 2,906 Further information pertaining to the allowance for loan losses at September 30, 2019 and June 30, 2019 is as follows: Residential Commercial Residential Consumer Real Estate Real Estate Construction Commercial and Other Unallocated Total (in thousands) At September 30, 2019 Amount of allowance for loan losses for impaired loans $ — $ — $ — $ — $ — $ — $ — Amount of allowance for loan losses for non-impaired loans $ 1,551 $ 1,443 $ 14 $ 91 $ 22 $ 91 $ 3,212 Impaired loans $ 1,830 $ 248 $ — $ — $ — $ — $ 2,078 Non-impaired loans $ 214,271 $ 144,112 $ 1,974 $ 11,216 $ 785 $ — $ 372,358 At June 30, 2019 Amount of allowance for loan losses for impaired loans $ — $ — $ — $ — $ — $ — $ — Amount of allowance for loan losses for non-impaired loans $ 1,456 $ 1,418 $ 10 $ 79 $ 28 $ 72 $ 3,063 Impaired loans $ 2,150 $ 260 $ — $ — $ — $ — $ 2,410 Non-impaired loans $ 219,338 $ 145,434 $ 1,476 $ 10,298 $ 968 $ — $ 377,514

Stock-Based Incentive Plan

Stock-Based Incentive Plan	3 Months Ended
	Sep. 30, 2019
Stock-Based Incentive Plan
Stock-Based Incentive Plan	NOTE 10 – Stock-Based Incentive Plan In February 2017, stockholders of the Company approved the PB Bancorp, Inc. 2017 Stock-Based Incentive Plan (the “Incentive Plan”). Under the Incentive Plan, the Company may grant up to 453,267 stock options and 181,306 shares of restricted stock to its employees, officers and directors for an aggregate amount of up to 634,573 shares. Both incentive stock options and non-statutory stock options may be granted under the Incentive Plan. There were no stock options or awards granted during the three months ended September 30, 2019 and 2018. Both stock option and restricted stock awards granted to date vest at 20% per year beginning on the first anniversary of the date of the grant, and become fully vested in the event of a change in control of the Company Stock options are considered common stock equivalents for the purpose of computing earnings per share on a diluted basis. Restricted stock awards have non-forfeitable dividend rights, and are considered participating securities outstanding for the purpose of computing basic earnings per share. The Company has recorded share-based compensation expense related to outstanding stock option and restricted stock awards based upon the fair value at the date of grant over the vesting period of such awards on a straight-line basis. The fair value of each restricted stock allocation, based on the market price at the date of grant, is recorded to unearned stock awards. Compensation expense related to unearned restricted shares is amortized to compensation and benefits expense over the vesting period of the restricted stock awards, adjusted by actual forfeitures. The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option pricing method which includes several assumptions such as volatility, expected dividends, expected term and risk-free rate for each stock option award. The Company recorded share-based compensation expense in connection with the stock option and restricted stock awards for the three months ended September 30, 2019 of $111,000. The Company recorded share-based compensation expense in connection with the stock option and restricted stock awards for the three months ended September 30, 2018 of $118,000.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Sep. 30, 2019
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss	NOTE 11 – Accumulated Other Comprehensive Loss Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the equity section of the consolidated balance sheets, such items are components of accumulated other comprehensive loss. The components of accumulated other comprehensive loss and related tax effects are as follows: September 30, June 30, 2019 2019 (in thousands) Net unrealized loss on securities available-for-sale $ (195) $ (341) Tax effect 40 72 Accumulated other comprehensive loss $ (155) $ (269)

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Sep. 30, 2019
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 12 – FAIR VALUE MEASUREMENTS The Company groups its assets measured at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value as follows: Level 1 – Valuations for assets traded in active exchange markets, such as the New York Stock Exchange. Valuations are obtained from readily available pricing sources for market transactions involving identical assets. Level 2 – Valuations for assets traded in less active dealer or broker markets. Valuations are obtained from third party pricing services for identical or comparable assets. Level 3 – Valuations for assets that are derived from other methodologies, including option pricing models, discounted cash flow models and similar techniques, and not based on market exchange, dealer, or broker traded transactions. Level 3 valuations incorporate certain assumptions and projections in determining the fair value assigned to such assets. The level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to all of the Company’s assets carried at fair value for September 30, 2019 and June 30, 2019. The Company’s mortgage-backed securities and other debt securities available-for-sale are generally classified within Level 2 of the fair value hierarchy. For these securities, we obtain fair value measurements from independent pricing services, which are not adjusted by management. The fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, the U. S. treasury yield curve, trading levels, market consensus prepayment speeds, credit information and the instrument’s terms and conditions. Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability, and such adjustments are generally based on available market evidence. In the absence of such evidence, management’s best estimate is used. Subsequent to inception, management only changes Level 3 inputs and assumptions when corroborated by evidence such as transactions in similar instruments, completed or pending third-party transactions in the underlying investment or comparable entities, subsequent rounds of financing, recapitalization and other transactions across the capital structure, offerings in the equity or debt markets, and changes in financial ratios or cash flows. Level 3 assets consisted of available-for-sale auction-rate trust preferred securities (ARPs). All dividends are current. The Company has the ability and intent to hold these securities for the time necessary to collect the expected cash flows. The fair value of impaired loans and other real estate owned is based on the underlying collateral if repayment is expected solely from the collateral. Collateral values are estimated using Level 3 inputs based upon appraisals of similar properties obtained from a third party and adjusted by management as needed. The Company did not have any transfers of assets between levels of the fair value hierarchy during the three months ended September 30, 2019. The following summarizes assets measured at fair value on a recurring basis at September 30, 2019 and June 30, 2019: Total Fair Value Level 1 Level 2 Level 3 (in thousands) At September 30, 2019 Securities available-for-sale: U.S. government and government-sponsored securities $ 2,020 $ — $ 2,020 $ — Corporate bonds 3,692 — 3,692 — U.S. Government-sponsored and guaranteed mortgage-backed securities 18,816 — 18,816 — Non-agency mortgage-backed securities 2,507 — 2,507 — Other securities 10,000 — — 10,000 Total $ 37,035 $ — $ 27,035 $ 10,000 At June 30, 2019 Securities available-for-sale: U.S. government and government-sponsored securities $ 2,242 $ — $ 2,242 $ — Corporate bonds 3,676 — 3,676 — U.S. Government-sponsored and guaranteed mortgage-backed securities 20,452 — 20,452 — Non-agency mortgage-backed securities 2,573 — 2,573 — Other securities 9,976 — — 9,976 Total $ 38,919 $ — $ 28,943 $ 9,976 There were no changes in level 3 assets measured at fair value for the three months ended September 30, 2019 and 2018. The Company had no assets measured at fair value on a non-recurring basis at September 30, 2019. The following summarizes assets measured at fair value on a non-recurring basis and the adjustments to the carrying value at and for the three months ended September 30, 2018: Total Losses for the Total Fair three months ended Value Level 1 Level 2 Level 3 September 30, 2018 (in thousands) At June 30, 2019 Impaired loans $ 219 $ — $ — $ 219 $ — Other real estate owned 984 — — 984 91 $ 1,203 $ — $ — $ 1,203 $ 91 The amount of other real estate owned represents the carrying value for which write-downs are based on the estimated fair value of the property. Fair value estimates are made at a specific point in time, based on relevant market information and information about the asset. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular asset. Because a market may not readily exist for a significant portion of the Company’s asset, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. There were no liabilities measured at fair value on a recurring or non-recurring basis at September 30, 2019 or June 30, 2019. The following methods and assumptions were used by the Company in estimating fair value disclosures of its financial instruments: Cash and Cash Equivalents. The carrying amounts of cash and cash equivalents approximate fair values based on the short-term nature of the assets. Investment Securities Held-to-Maturity and FHLBB Stock. The fair value of securities held-to-maturity is estimated based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments or available market evidence. Ownership of Federal Home Loan Bank of Boston (“FHLBB”) stock is restricted to member banks; therefore, the stock is not traded. The estimated fair value of FHLBB stock is equal to its carrying value, which represents the price at which the FHLBB is obligated to redeem its stock. Loans. For valuation purposes, the loan portfolio was segregated into its significant categories, which are residential, commercial real estate, residential construction, commercial and consumer and other loans. These categories were further segregated, where appropriate, into components based on significant financial characteristics such as type of interest rate (fixed or adjustable). Fair values were estimated for each component using assumptions developed by management and a valuation model provided by a third party specialist. The fair values of residential, commercial real estate, residential construction, commercial and consumer and other loans were estimated by discounting the anticipated cash flows from the respective portfolios. Estimates of the timing and amount of these cash flows considered factors such as future loan prepayments. The discount rates reflected current market rates for loans with similar terms to borrowers of similar credit quality. The fair value of home equity lines of credit was based on the outstanding loan balances. Fair values for non-performing loans are estimated using discounted cash flow analyses or underlying collateral values, where applicable. Deposits and Mortgagors’ Escrow. The fair value of deposits with no stated maturity such as demand deposits, NOW, regular savings, and money market deposit accounts and mortgagors’ escrow accounts, is equal to the amount payable on demand. The fair value estimates do not include the benefit that results from the generally lower cost of funding provided by the deposit liabilities compared to the cost of borrowing funds in the market. The fair value estimate of time deposits is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits having similar remaining maturities. Federal Home Loan Bank Advances. The fair values of the Company’s Federal Home Loan Bank advances are estimated using discounted cash flow analyses based on the current incremental borrowing rates in the market for similar types of borrowing arrangements. Securities Sold Under Agreements to Repurchase. The Company enters into overnight repurchase agreements with its customers. Since these agreements are short-term instruments, the fair value of these agreements approximates their recorded balance. The Company also secures term repurchase agreements through other financial institutions. The fair value of these agreements are determined by discounting the anticipated future cash payments using rates currently available to the Bank for debt with similar terms and remaining maturities. Accrued Interest. The carrying amounts of accrued interest approximate fair value. Off-Balance Sheet Instruments. The fair value of off-balance-sheet mortgage lending commitments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. In the case of the commitments discussed in Note 14, the fair value equals the carrying amounts which are not significant. Summary of Fair Values of Financial Instruments. The estimated fair values, and related carrying amounts, of the Company’s financial instruments are as follows. Certain financial instruments and all nonfinancial instruments are exempt from disclosure requirements. Accordingly, the aggregate fair value amounts presented herein do not represent the underlying fair value of the Company. The following table presents the carrying amount and estimated fair values of the Company’s financial instruments, all of which are held or issued for purposes other than trading, as of September 30, 2019 and June 30, 2019: September 30, 2019 Carrying Fair Value Hierarchy Total Fair Amount Level 1 Level 2 Level 3 Value (in thousands) Financial assets: Cash and cash equivalents $ 44,456 $ 44,456 $ — $ — $ 44,456 Securities available-for-sale 37,035 — 27,035 10,000 37,035 Securities held-to-maturity 58,092 — 58,545 — 58,545 Federal Home Loan Bank stock 3,464 — — 3,464 3,464 Loans, net 372,342 — — 363,409 363,409 Accrued interest receivable 1,400 — — 1,400 1,400 Financial liabilities: Deposits 392,441 — — 393,429 393,429 Mortgagors' escrow accounts 1,701 — — 1,701 1,701 Federal Home Loan Bank advances 60,132 — 59,946 — 59,946 Securities sold under agreements to repurchase 1,618 — 1,618 — 1,618 Accrued interest payable 343 — — 343 343 June 30, 2019 Carrying Fair Value Hierarchy Total Fair Amount Level 1 Level 2 Level 3 Value (in thousands) Financial assets: Cash and cash equivalents $ 25,672 $ 25,672 $ — $ — $ 25,672 Securities available-for-sale 38,919 — 28,943 9,976 38,919 Securities held-to-maturity 63,480 — 63,858 — 63,858 Federal Home Loan Bank stock 3,464 — — 3,464 3,464 Loans, net 378,017 — — 366,442 366,442 Accrued interest receivable 1,559 — — 1,559 1,559 Financial liabilities: Deposits 383,859 — — 384,698 384,698 Mortgagors' escrow accounts 3,371 — — 3,371 3,371 Federal Home Loan Bank advances 62,145 — 62,773 — 62,773 Securities sold under agreements to repurchase 804 — 804 — 804 Accrued interest payable 251 — — 251 251

Subsequent Events

Subsequent Events	3 Months Ended
	Sep. 30, 2019
Subsequent Events
Subsequent Events	NOTE 13 – Subsequent Events On October 2, 2019, the Board of Directors of PB Bancorp, Inc. declared a quarterly cash dividend of $0.07 per share for stockholders of record as of October 16, 2019, which is payable on October 30, 2019.

Commitments to Extend Credit

Commitments to Extend Credit	3 Months Ended
	Sep. 30, 2019
Commitments to Extend Credit
Commitments to Extend Credit	NOTE 14 – Commitments to Extend Credit The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. These commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amounts recognized in the consolidated balance sheets. The contractual amounts of outstanding commitments were as follows: September 30, June 30, 2019 2019 (in thousands) Commitments to extend credit: Commitments to grant loans $ 20,262 $ 1,118 Unadvanced construction loans 4,852 6,872 Unadvanced lines of credit 21,645 21,819 Standby letters of credit 395 395 Outstanding commitments $ 47,154 $ 30,204

Critical Accounting Policies (P

Critical Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2019
Critical Accounting Policies
Allowance for Loan Losses	Allowance for Loan Losses . The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. The allowance for loan losses is evaluated on a quarterly basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general, specific and unallocated components, as further described below. General component The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: residential real estate, commercial real estate, residential construction, commercial and consumer/other. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels/trends in delinquencies; trends in volume and terms of loans; concentrations; changes in lending policies and procedures; experience/ability/depth of lending management and staff; loan rating migration; the effect of other external factors; changes in the value of underlying collateral; changes in the loan review system and national and local economic trends and conditions. The Company calculates historical losses using a five-year rolling average, which is considered indicative of the risk in the Company’s current loan portfolio. There were no changes in the Company’s policies or methodology pertaining to the general component of the allowance for loan losses through September 30, 2019. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Residential real estate - The Company does not originate loans with a loan-to-value ratio greater than 100% and does not originate subprime loans. Loans originated with a loan-to-value ratio greater than 80% generally require private mortgage insurance. All loans in this segment are collateralized by owner-occupied residential real estate and repayment is dependent on the credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. Commercial real estate - Loans in this segment are primarily income-producing properties throughout New England. The underlying cash flows generated by the properties may be adversely impacted by a downturn in the economy as evidenced by increased vacancy rates, which in turn, would have an effect on the credit quality in this segment. Management obtains rent rolls annually and continually monitors the cash flows of these loans. Residential construction – Loans in this segment include speculative real estate development loans for which payment is derived from sale of the property. Credit risk is affected by the accuracy of estimated costs to complete the project, cost overruns, time to sell at an adequate price, and market conditions. Commercial – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer spending, will have an effect on the credit quality in this segment. Consumer/other - Loans in this segment are generally unsecured and repayment is dependent on the credit quality of the individual borrower. Specific component The specific component relates to loans that are classified as impaired. Impairment is measured on a loan by loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent or foreclosure is probable. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer/other and residential real estate loans for impairment disclosures, unless such loans are non-accrual or subject to a troubled debt restructuring (“TDR”) agreement. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company periodically may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring ("TDR"). All TDRs are classified as impaired. Unallocated component An unallocated component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general reserves in the portfolio.
Goodwill	Goodwill . Goodwill is measured as the excess of the cost of a business acquisition over the sum of the amounts assigned to identifiable tangible and intangible assets acquired less liabilities assumed. Goodwill is not amortized but is subject to a review of qualitative factors annually or more frequently if circumstances warrant, to determine if an impairment test is required. If required, the Company uses the following two-step approach for reviewing goodwill for impairment: The first step (“Step 1”) is used to identify potential impairment, and involves comparing the reporting unit’s (the consolidated Company) estimated fair value to its carrying amount, including goodwill. If the estimated fair value of the reporting unit exceeds its carrying amount, goodwill is not deemed to be impaired. Should the carrying amount of the reporting unit exceed its estimated fair value, an indicator of impairment is deemed to exist and a second step is performed to measure the amount of such impairment, if any. The second step (“Step 2”) involves calculating the implied fair value of goodwill. The implied fair value of goodwill is determined in a manner similar to how the amount of goodwill is determined in a business combination (i.e. by measuring the excess of the estimated fair value, as determined in Step 1, over the aggregate estimated fair values of the individual assets, liabilities, and identifiable intangibles as of the impairment testing date). If the implied fair value of goodwill exceeds the carrying amount of goodwill assigned to the reporting unit, no impairment exists. If the carrying amount of goodwill exceeds the implied fair value of the goodwill, an impairment loss is recorded in an amount equal to such excess. An impairment loss cannot exceed the carrying amount of goodwill, and the loss (write-down) establishes a new carrying amount for the goodwill. Subsequent reversal of goodwill impairment losses is not permitted. Application of the goodwill impairment test requires significant judgments including estimation of future cash flows, which are dependent on internal forecasts, estimation of the long-term rate of growth, the period over which cash flows will occur, and determination of our cost of capital. Changes in these estimates and assumptions could materially affect the determination of fair value and/or conclusions related to goodwill impairment.
Other-Than-Temporary Impairment of Securities	Other-Than-Temporary Impairment of Securities. Each reporting period, the Company evaluates all securities classified as available-for-sale or held-to-maturity with a decline in fair value below the amortized cost of the investment to determine whether or not the impairment is deemed to be other-than-temporary (“OTTI”). OTTI is required to be recognized if (1) the Company intends to sell the security; (2) it is “more likely than not” that the Company will be required to sell the security before recovery of its amortized cost basis; or (3) for debt securities, the present value of expected cash flows is not sufficient to recover the entire amortized cost basis. For impaired debt securities that the Company intends to sell, or more likely than not will be required to sell, the full amount of the depreciation is recognized as OTTI through earnings. For all other impaired debt securities, credit-related OTTI is recognized through earnings and non-credit related OTTI is recognized in other comprehensive income, net of applicable taxes.
Income Taxes	Income Taxes. The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are established for the temporary differences between the accounting basis and the tax basis of the Company’s assets and liabilities at enacted rates expected to be in effect when the amounts related to such temporary differences are realized or settled. A valuation allowance is established against deferred tax assets when, based upon the available evidence including historical and projected taxable income, it is more likely than not that some or all of the deferred tax assets will not be realized. Management has discussed the development and selection of these critical accounting policies with the Audit Committee.

Earnings Per Share (EPS) (Table

Earnings Per Share (EPS) (Tables)	3 Months Ended
	Sep. 30, 2019
Earnings Per Share (EPS)
Schedule of computation of EPS on basic and diluted basis	The following information was used in the computation of EPS on both a basic and diluted basis for the three months ended September 30, 2019: Three months ended September 30, 2019 2018 Net income $ 956,000 $ 1,391,000 Weighted average common shares applicable to basic EPS 7,059,885 7,218,179 Effect of dilutive potential common shares 12,064 8,611 Weighted average common shares applicable to diluted EPS 7,071,949 7,226,790 Earnings per share: Basic $ 0.14 $ 0.19 Diluted $ 0.14 $ 0.19

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Sep. 30, 2019
Investment Securities
Schedule of carrying value and estimated fair values of investment securities by maturity	The carrying value, estimated fair values, and gross unrealized gains and losses of investment securities by maturity and type are as follows: Amortized Gross Unrealized Fair Cost Basis Gains (Losses) Value (in thousands) September 30, 2019: Available-for-sale: Debt securities: U.S. government and government-sponsored securities: After ten years $ 2,088 $ — $ (68) $ 2,020 Corporate bonds: Due from five through ten years 3,999 — (307) 3,692 U.S. Government-sponsored and guaranteed mortgage-backed securities: Due from one through five years 4,505 16 (3) 4,518 From five through ten years 1,085 — (3) 1,082 After ten years 13,167 111 (62) 13,216 18,757 127 (68) 18,816 Non-agency mortgage-backed securities: Due after ten years 2,386 398 (277) 2,507 Other debt securities: Auction rate preferred: Due from five through ten years 8,000 — — 8,000 After ten years 2,000 — — 2,000 10,000 — — 10,000 Total available-for-sale securities $ 37,230 $ 525 $ (720) $ 37,035 Held-to-maturity: U.S. government and government-sponsored securities: Due in one year or less $ 3,991 $ 19 $ — $ 4,010 After ten years 4,150 32 — 4,182 8,141 51 — 8,192 State agency and municipal obligations From one through five years 439 — — 439 U.S. Government-sponsored and guaranteed mortgage-backed securities: Due from one through five years 329 7 — 336 From five through ten years 9,627 66 (26) 9,667 After ten years 39,556 492 (137) 39,911 49,512 565 (163) 49,914 Total held-to-maturity securities $ 58,092 $ 616 $ (163) $ 58,545 Amortized Gross Unrealized Fair Cost Basis Gains (Losses) Value (in thousands) June 30, 2019: Available-for-sale: Debt securities: U.S. government and government-sponsored securities: Due after ten years $ 2,310 $ — $ (68) $ 2,242 Corporate bonds: Due from five through ten years 3,999 — (323) 3,676 U.S. Government-sponsored and guaranteed mortgage-backed securities: Due from one through five years 5,066 13 (5) 5,074 From five through ten years 1,147 — (5) 1,142 After ten years 14,235 118 (117) 14,236 20,448 131 (127) 20,452 Non-agency mortgage-backed securities: Due after ten years 2,503 410 (340) 2,573 Other debt securities: Auction rate preferred: Due from five through ten years 8,000 — (24) 7,976 After ten years 2,000 — — 2,000 10,000 — (24) 9,976 Total available-for-sale securities $ 39,260 $ 541 $ (882) $ 38,919 Held-to-maturity: U.S. government and government-sponsored securities: Due in one year or less $ 4,000 $ — $ (4) $ 3,996 From one through five years 989 22 — 1,011 After ten years 4,379 — (2) 4,377 9,368 22 (6) 9,384 State agency and municipal obligations Due from one through five years 440 — (2) 438 U.S. Government-sponsored and guaranteed mortgage-backed securities: Due from one through five years 411 9 — 420 From five through ten years 9,636 24 (37) 9,623 After ten years 43,625 543 (175) 43,993 53,672 576 (212) 54,036 Total held-to-maturity securities $ 63,480 $ 598 $ (220) $ 63,858
Schedule of securities in a continuous unrealized loss position	The following is a summary of the estimated fair value and related unrealized losses segregated by category and length of time that individual securities have been in a continuous unrealized loss position at: Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) September 30, 2019: Available-for-sale: U.S. Government and government-sponsored securities $ — $ — $ 2,020 $ 68 $ 2,020 $ 68 Corporate bonds — — 3,692 307 3,692 307 U.S. Government-sponsored and guaranteed mortgage-backed securities 2,266 12 5,944 56 8,210 68 Total temporarily impaired available-for-sale 2,266 12 11,656 431 13,922 443 Held-to-maturity: U.S. Government and government-sponsored securities — — 1,000 — 1,000 — State and political subdivisions 439 — — — 439 — U.S. Government-sponsored and guaranteed mortgage-backed securities 6,427 23 17,585 140 24,012 163 Total temporarily impaired held-to-maturity 6,866 23 18,585 140 25,451 163 Other-than-temporarily impaired debt securities (1): Non-agency mortgage-backed securities 265 12 952 265 1,217 277 Total temporarily-impaired and other- than-temporarily impaired securities $ 9,397 $ 47 $ 31,193 $ 836 $ 40,590 $ 883 Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) June 30, 2019: Available-for-sale: U.S. Government and government-sponsored securities $ — $ — $ 2,242 $ 68 $ 2,242 $ 68 Corporate bonds — — 3,676 323 3,676 323 U.S. Government-sponsored and guaranteed mortgage-backed securities 1,425 7 13,576 120 15,001 127 Other securities 2,976 24 — — 2,976 24 Total temporarily impaired available-for-sale 4,401 31 19,494 511 23,895 542 Held-to-maturity: U.S. Government and government-sponsored securities — — 8,373 6 8,373 6 State and political subdivisions — — 438 2 438 2 U.S. Government-sponsored and guaranteed mortgage-backed securities — — 29,400 212 29,400 212 Total temporarily impaired held-to-maturity — — 38,211 220 38,211 220 Other-than-temporarily impaired debt securities (1): Non-agency mortgage-backed securities 268 11 947 329 1,215 340 Total temporarily-impaired and other- than-temporarily impaired securities $ 4,669 $ 42 $ 58,652 $ 1,060 $ 63,321 $ 1,102 (1) Includes other-than-temporary impaired available-for-sale debt securities in which a portion of the other-than-temporary impairment loss remains in accumulated other comprehensive loss.
Schedule of amount of credit losses on debt securities	The following table represents a roll-forward of the amount of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in other comprehensive loss: Three months ended September 30, 2019 2018 (in thousands) Balance at beginning of period $ 16,016 $ 15,983 Additional credit losses on securities for which an other-than-temporary impairment charge was previously recorded 47 — Balance at end of period $ 16,063 $ 15,983

Loans (Tables)

Loans (Tables)	3 Months Ended
	Sep. 30, 2019
Loans
Schedule of composition of loan portfolio	The following table sets forth the composition of our loan portfolio at September 30, 2019 and June 30, 2019: September 30, June 30, 2019 2019 (in thousands) Real Estate: Residential (1) $ 216,101 $ 221,488 Commercial 144,360 145,694 Residential construction 1,974 1,476 Commercial 11,216 10,298 Consumer and other 785 968 Total loans 374,436 379,924 Net deferred loan costs 1,118 1,156 Allowance for loan losses (3,212) (3,063) Loans, net $ 372,342 $ 378,017 (1) Residential real estate loans include one-to four-family mortgage loans, second mortgage loans, and home equity lines of credit.
Schedule of the company's loan classes by risk rating	The following table presents the Company’s loan classes by internally assigned grades at September 30, 2019 and June 30, 2019: Residential Commercial Residential Consumer Real Estate Real Estate Construction Commercial and other Total (in thousands) September 30, 2019 Grade: Pass $ 211,480 $ 141,541 $ 1,974 $ 10,293 $ 785 $ 366,073 Special Mention 1,384 1,567 — — — 2,951 Substandard 3,237 1,252 — 923 — 5,412 Doubtful — — — — — — Loss — — — — — — Total $ 216,101 $ 144,360 $ 1,974 $ 11,216 $ 785 $ 374,436 June 30, 2019 Grade: Pass $ 217,800 $ 142,829 $ 1,476 $ 9,355 $ 968 $ 372,428 Special Mention — 1,557 — — — 1,557 Substandard 3,688 1,308 — 943 — 5,939 Doubtful — — — — — — Loss — — — — — — Total $ 221,488 $ 145,694 $ 1,476 $ 10,298 $ 968 $ 379,924

Non-performing Assets, Past D_2

Non-performing Assets, Past Due and Impaired Loans (Tables)	3 Months Ended
	Sep. 30, 2019
Non-performing Assets, Past Due and Impaired Loans
Schedule of non performing assets	The table below sets forth the amounts and categories of non-performing assets at the dates indicated: At September 30, At June 30, 2019 2019 (Dollars in thousands) Non-accrual loans: Real Estate: Residential $ 3,237 $ 3,530 Commercial 526 260 Consumer — — Total non-accrual loans 3,763 3,790 Accruing loans past due 90 days or more: Real Estate: Residential — 159 Commercial — 279 Total accruing loans past due 90 days or more — 438 Total non-performing loans 3,763 4,228 Other real estate owned 1,327 1,271 Total non-performing assets $ 5,090 $ 5,499 Total non-performing loans to total loans 1.00 % 1.11 % Total non-performing assets to total assets 0.94 % 1.02 %
Schedule of the past due and non-accrual loans	The following table sets forth information regarding past due loans at September 30, 2019 and June 30, 2019: 90 days 30–59 Days 60–89 Days or Greater Total Past Due Past Due Past Due Past Due (in thousands) At September 30, 2019 Real Estate: Residential $ 245 $ 392 $ 446 $ 1,083 Commercial — — 278 278 Consumer and other 5 1 — 6 Total $ 250 $ 393 $ 724 $ 1,367 At June 30, 2019 Real Estate: Residential $ 39 $ 397 $ 668 $ 1,104 Commercial — — $ 279 279 Consumer and other 3 — — 3 Total $ 42 $ 397 $ 947 $ 1,386
Schedule of information pertaining to impaired loans	The following is a summary of information pertaining to impaired loans at September 30, 2019 and June 30, 2019, none of which had a valuation allowance: At September 30, 2019 At June 30, 2019 Unpaid Unpaid Recorded Principal Recorded Principal Investment Balance Investment Balance (in thousands) Real Estate: Residential $ 1,830 $ 1,976 $ 2,150 $ 2,296 Commercial 248 248 260 260 Total impaired loans $ 2,078 $ 2,224 $ 2,410 $ 2,556 The following is a summary of additional information pertaining to impaired loans: Three months ended Three months ended September 30, 2019 September 30, 2018 Average Interest Interest Income Average Interest Interest Income Recorded Income Recognized Recorded Income Recognized Investment Recognized on Cash Basis Investment Recognized on Cash Basis (in thousands) Real Estate: Residential $ 1,990 $ 20 $ 18 $ 2,512 $ 17 $ 14 Commercial 254 — — 824 7 — Total impaired loans $ 2,244 $ 20 $ 18 $ 3,336 $ 24 $ 14

Allowance for Loan Losses (Tabl

Allowance for Loan Losses (Tables)	3 Months Ended
	Sep. 30, 2019
Allowance for Loan Losses
Schedule of analysis of the allowance for loan losses	An analysis of the allowance for loan losses for the three months ended September 30, 2019 and 2018 is as follows: Residential Commercial Residential Consumer Real Estate Real Estate Construction Commercial and Other Unallocated Total (in thousands) Three months ended September 30, 2019 Beginning balance $ 1,456 $ 1,418 $ 10 $ 79 $ 28 $ 72 $ 3,063 Charge-offs — — — — (9) — (9) Recoveries 3 — — 3 2 — 8 Provision 92 25 4 9 1 19 150 Ending Balance $ 1,551 $ 1,443 $ 14 $ 91 $ 22 $ 91 $ 3,212 Three months ended September 30, 2018 Beginning balance $ 1,385 $ 1,194 $ 14 $ 80 $ 135 $ 135 $ 2,943 Charge-offs — — — — (8) — (8) Recoveries 5 560 — 2 4 — 571 (Credit) provision 98 (660) (7) (5) — (26) (600) Ending Balance $ 1,488 $ 1,094 $ 7 $ 77 $ 131 $ 109 $ 2,906 Further information pertaining to the allowance for loan losses at September 30, 2019 and June 30, 2019 is as follows: Residential Commercial Residential Consumer Real Estate Real Estate Construction Commercial and Other Unallocated Total (in thousands) At September 30, 2019 Amount of allowance for loan losses for impaired loans $ — $ — $ — $ — $ — $ — $ — Amount of allowance for loan losses for non-impaired loans $ 1,551 $ 1,443 $ 14 $ 91 $ 22 $ 91 $ 3,212 Impaired loans $ 1,830 $ 248 $ — $ — $ — $ — $ 2,078 Non-impaired loans $ 214,271 $ 144,112 $ 1,974 $ 11,216 $ 785 $ — $ 372,358 At June 30, 2019 Amount of allowance for loan losses for impaired loans $ — $ — $ — $ — $ — $ — $ — Amount of allowance for loan losses for non-impaired loans $ 1,456 $ 1,418 $ 10 $ 79 $ 28 $ 72 $ 3,063 Impaired loans $ 2,150 $ 260 $ — $ — $ — $ — $ 2,410 Non-impaired loans $ 219,338 $ 145,434 $ 1,476 $ 10,298 $ 968 $ — $ 377,514

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Sep. 30, 2019
Accumulated Other Comprehensive Loss
Schedule of accumulated other comprehensive income (loss)	The components of accumulated other comprehensive loss and related tax effects are as follows: September 30, June 30, 2019 2019 (in thousands) Net unrealized loss on securities available-for-sale $ (195) $ (341) Tax effect 40 72 Accumulated other comprehensive loss $ (155) $ (269)

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Sep. 30, 2019
FAIR VALUE MEASUREMENTS
Schedule of summary of assets measured at fair value on a recurring basis	The following summarizes assets measured at fair value on a recurring basis at September 30, 2019 and June 30, 2019: Total Fair Value Level 1 Level 2 Level 3 (in thousands) At September 30, 2019 Securities available-for-sale: U.S. government and government-sponsored securities $ 2,020 $ — $ 2,020 $ — Corporate bonds 3,692 — 3,692 — U.S. Government-sponsored and guaranteed mortgage-backed securities 18,816 — 18,816 — Non-agency mortgage-backed securities 2,507 — 2,507 — Other securities 10,000 — — 10,000 Total $ 37,035 $ — $ 27,035 $ 10,000 At June 30, 2019 Securities available-for-sale: U.S. government and government-sponsored securities $ 2,242 $ — $ 2,242 $ — Corporate bonds 3,676 — 3,676 — U.S. Government-sponsored and guaranteed mortgage-backed securities 20,452 — 20,452 — Non-agency mortgage-backed securities 2,573 — 2,573 — Other securities 9,976 — — 9,976 Total $ 38,919 $ — $ 28,943 $ 9,976
Schedule of assets measured at fair value on a non-recurring basis and the adjustments to the carrying value	The Company had no assets measured at fair value on a non-recurring basis at September 30, 2019. The following summarizes assets measured at fair value on a non-recurring basis and the adjustments to the carrying value at and for the three months ended September 30, 2018: Total Losses for the Total Fair three months ended Value Level 1 Level 2 Level 3 September 30, 2018 (in thousands) At June 30, 2019 Impaired loans $ 219 $ — $ — $ 219 $ — Other real estate owned 984 — — 984 91 $ 1,203 $ — $ — $ 1,203 $ 91
Schedule of estimated fair value of financial instruments which are held or issued for purposes other than trading	The following table presents the carrying amount and estimated fair values of the Company’s financial instruments, all of which are held or issued for purposes other than trading, as of September 30, 2019 and June 30, 2019: September 30, 2019 Carrying Fair Value Hierarchy Total Fair Amount Level 1 Level 2 Level 3 Value (in thousands) Financial assets: Cash and cash equivalents $ 44,456 $ 44,456 $ — $ — $ 44,456 Securities available-for-sale 37,035 — 27,035 10,000 37,035 Securities held-to-maturity 58,092 — 58,545 — 58,545 Federal Home Loan Bank stock 3,464 — — 3,464 3,464 Loans, net 372,342 — — 363,409 363,409 Accrued interest receivable 1,400 — — 1,400 1,400 Financial liabilities: Deposits 392,441 — — 393,429 393,429 Mortgagors' escrow accounts 1,701 — — 1,701 1,701 Federal Home Loan Bank advances 60,132 — 59,946 — 59,946 Securities sold under agreements to repurchase 1,618 — 1,618 — 1,618 Accrued interest payable 343 — — 343 343 June 30, 2019 Carrying Fair Value Hierarchy Total Fair Amount Level 1 Level 2 Level 3 Value (in thousands) Financial assets: Cash and cash equivalents $ 25,672 $ 25,672 $ — $ — $ 25,672 Securities available-for-sale 38,919 — 28,943 9,976 38,919 Securities held-to-maturity 63,480 — 63,858 — 63,858 Federal Home Loan Bank stock 3,464 — — 3,464 3,464 Loans, net 378,017 — — 366,442 366,442 Accrued interest receivable 1,559 — — 1,559 1,559 Financial liabilities: Deposits 383,859 — — 384,698 384,698 Mortgagors' escrow accounts 3,371 — — 3,371 3,371 Federal Home Loan Bank advances 62,145 — 62,773 — 62,773 Securities sold under agreements to repurchase 804 — 804 — 804 Accrued interest payable 251 — — 251 251

Commitments to Extend Credit (T

Commitments to Extend Credit (Tables)	3 Months Ended
	Sep. 30, 2019
Commitments to Extend Credit
Schedule of notional amounts of commitments with off-balance-sheet credit risk	September 30, June 30, 2019 2019 (in thousands) Commitments to extend credit: Commitments to grant loans $ 20,262 $ 1,118 Unadvanced construction loans 4,852 6,872 Unadvanced lines of credit 21,645 21,819 Standby letters of credit 395 395 Outstanding commitments $ 47,154 $ 30,204

Organization - Additional Infor

Organization - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 22, 2019	Jan. 07, 2016
Mhc [Member]
Organization [Line Items]
Net proceeds from common stock offering		$ 33.7
Stock issued during period		1.1907
Centreville Bank [Member]
Organization [Line Items]
Business Combination, Consideration Transferred	$ 115.5
Business Acquisition, Share Price	$ 15.25

Earnings Per Share (EPS) - Sche

Earnings Per Share (EPS) - Schedule of Computation of EPS on Basic and Diluted Basis (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share (EPS)
Net income	$ 956	$ 1,391
Weighted average common shares applicable to basic EPS	7,059,885	7,218,179
Effect of dilutive potential common shares	12,064	8,611
Weighted average common shares applicable to diluted EPS (in shares)	7,071,949	7,226,790
Earnings per share:
Basic (in dollars per share)	$ 0.14	$ 0.19
Diluted (in dollars per share)	$ 0.14	$ 0.19

Earnings Per Share (EPS) - Addi

Earnings Per Share (EPS) - Additional Information (Details) - shares	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share (EPS)
Number of options excluded from computation of earnings per share	0	0

Investment Securities - Availab

Investment Securities - Available for sale debt securities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Available-for-sale debt securities
Available-for-sale securities, amortized cost basis	$ 37,230	$ 39,260
Available-for-sale securities, Gross Unrealized Gains	525	541
Available-for-sale securities, Gross Unrealized (Losses)	(720)	(882)
Securities available for sale, at fair value	37,035	38,919
U.S. Government and government-sponsored securities
Available-for-sale debt securities
After ten years, Amortized Cost	2,088	2,310
After ten years, Gross Unrealized Gains		0
After ten years, Gross Unrealized (Losses)	(68)	(68)
After ten years, Fair Value	2,020	2,242
Corporate bonds
Available-for-sale debt securities
Due from five through ten years, Amortized Cost	3,999	3,999
Due from five through ten years, Gross Unrealized Gains		0
Due from five through ten years, Gross Unrealized (Losses)	(307)	(323)
Due from five through ten years, Fair Value	3,692	3,676
U.S. Government-sponsored and guaranteed mortgage-backed securities
Available-for-sale debt securities
Due from one through five years, Amortized Cost	4,505	5,066
Due from one through five years, Gross Unrealized Gains	16	13
Due from one through five years, Gross Unrealized (Losses)	(3)	(5)
Due from one through five years, Fair Value	4,518	5,074
Due from five through ten years, Amortized Cost	1,085	1,147
Due from five through ten years, Gross Unrealized Gains		0
Due from five through ten years, Gross Unrealized (Losses)	(3)	(5)
Due from five through ten years, Fair Value	1,082	1,142
After ten years, Amortized Cost	13,167	14,235
After ten years, Gross Unrealized Gains	111	118
After ten years, Gross Unrealized (Losses)	(62)	(117)
After ten years, Fair Value	13,216	14,236
Available-for-sale securities, amortized cost basis	18,757	20,448
Available-for-sale securities, Gross Unrealized Gains	127	131
Available-for-sale securities, Gross Unrealized (Losses)	(68)	(127)
Securities available for sale, at fair value	18,816	20,452
Non-agency mortgage-backed securities
Available-for-sale debt securities
After ten years, Amortized Cost	2,386	2,503
After ten years, Gross Unrealized Gains	398	410
After ten years, Gross Unrealized (Losses)	(277)	(340)
After ten years, Fair Value	$ 2,507	$ 2,573

Investment Securities - Avail_2

Investment Securities - Available for sale equity securities (Details) - Auction rate preferred - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Debt and Equity Securities, FV-NI [Line Items]
Due from five through ten years, Amortized Cost	$ 8,000	$ 8,000
Due from five through ten years, Gross Unrealized Gains		0
Due from five through ten years, Gross Unrealized (Losses)		(24)
Due from five through ten years, Fair Value	8,000	7,976
After ten years, Amortized Cost	2,000	2,000
After ten years, Gross Unrealized Gains		0
After ten years, Gross Unrealized (Losses)		0
After ten years, Fair Value	2,000	2,000
Amortized Cost Basis	10,000	10,000
Gross Unrealized Gains		0
Gross Unrealized (Losses)		24
Fair Value	$ 10,000	$ 9,976

Investment Securities - Avail_3

Investment Securities - Available for sale (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Investment Securities
Available-for-sale securities, amortized cost basis	$ 37,230	$ 39,260
Available-for-sale securities, Gross Unrealized Gains	525	541
Gross Unrealized (Losses)	(720)	(882)
Fair Value	$ 37,035	$ 38,919

Investment Securities - Held-to

Investment Securities - Held-to-maturity Debt security (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Debt Securities, Held-to-maturity [Abstract]
Held-to-maturity securities, amortized cost basis	$ 58,092	$ 63,480
Held-to-maturity securities, Gross Unrealized Gains	616	598
Held-to-maturity securities, Gross Unrealized (Losses)	(163)	(220)
Held-to-maturity securities, Fair Value	58,545	63,858
U.S. Government and government-sponsored securities
Debt Securities, Held-to-maturity [Abstract]
Due in one year or less, amortized cost basis	3,991	4,000
Due in one year or less, Gross Unrealized Gains	19	0
Due in one year or less, Gross Unrealized (Losses)		(4)
Due in one year or less, Fair Value	4,010	3,996
From one through five years, Amortized Cost Basis		989
From one through five years, Gross Unrealized Gains		22
From one through five years, Gross Unrealized (Losses)		0
From one through five years, fair value		1,011
After ten years, Amortized Cost Basis	4,150	4,379
After ten years, Gross Unrealized Gains	32	0
After ten years, Gross Unrealized (Losses)		(2)
After ten years gross, fair value	4,182	4,377
Held-to-maturity securities, amortized cost basis	8,141	9,368
Held-to-maturity securities, Gross Unrealized Gains	51	22
Held-to-maturity securities, Gross Unrealized (Losses)		(6)
Held-to-maturity securities, Fair Value	8,192	9,384
State and political subdivisions
Debt Securities, Held-to-maturity [Abstract]
From one through five years, Amortized Cost Basis	439	440
From one through five years, Gross Unrealized Gains		0
From one through five years, Gross Unrealized (Losses)		(2)
From one through five years, fair value	439	438
U.S. Government-sponsored and guaranteed mortgage-backed securities
Debt Securities, Held-to-maturity [Abstract]
From one through five years, Amortized Cost Basis	329	411
From one through five years, Gross Unrealized Gains	7	9
From one through five years, Gross Unrealized (Losses)		0
From one through five years, fair value	336	420
From five through ten years, Amortized Cost Basis	9,627	9,636
From five through ten years, Gross Unrealized Gains	66	24
From five through ten years, Gross Unrealized (Losses)	(26)	(37)
From five through ten years, fair value	9,667	9,623
After ten years, Amortized Cost Basis	39,556	43,625
After ten years, Gross Unrealized Gains	492	543
After ten years, Gross Unrealized (Losses)	(137)	(175)
After ten years gross, fair value	39,911	43,993
Held-to-maturity securities, amortized cost basis	49,512	53,672
Held-to-maturity securities, Gross Unrealized Gains	565	576
Held-to-maturity securities, Gross Unrealized (Losses)	(163)	(212)
Held-to-maturity securities, Fair Value	$ 49,914	$ 54,036

Investment Securities - Avail_4

Investment Securities - Available for sale continuous unrealized loss position (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 2,266	$ 4,401
Less than 12 Months, Unrealized Loss	12	31
12 Months or More, Fair Value	11,656	19,494
12 Months or More, Unrealized Loss	431	511
Total, Fair Value	13,922	23,895
Total, Unrealized Loss	443	542
U.S. Government and government-sponsored securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value		0
Less than 12 Months, Unrealized Loss		0
12 Months or More, Fair Value	2,020	2,242
12 Months or More, Unrealized Loss	68	68
Total, Fair Value	2,020	2,242
Total, Unrealized Loss	68	68
U.S. Government-sponsored and guaranteed mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	2,266	1,425
Less than 12 Months, Unrealized Loss	12	7
12 Months or More, Fair Value	5,944	13,576
12 Months or More, Unrealized Loss	56	120
Total, Fair Value	8,210	15,001
Total, Unrealized Loss	68	127
Other securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value		2,976
Less than 12 Months, Unrealized Loss		24
12 Months or More, Fair Value		0
12 Months or More, Unrealized Loss		0
Total, Fair Value		2,976
Total, Unrealized Loss		24
Corporate Debt Securities
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value		0
Less than 12 Months, Unrealized Loss		0
12 Months or More, Fair Value	3,692	3,676
12 Months or More, Unrealized Loss	307	323
Total, Fair Value	3,692	3,676
Total, Unrealized Loss	$ 307	$ 323

Investment Securities - Held to

Investment Securities - Held to maturity continuous unrealized loss position (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 Months, Fair Value	$ 6,866	$ 0
Less than 12 Months, Unrealized Loss	23	0
12 Months or More, Fair Value	18,585	38,211
12 Months or More, Unrealized Loss	140	220
Total, Fair Value	25,451	38,211
Total, Unrealized Loss	163	220
U.S. Government and government-sponsored securities
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 Months, Fair Value		0
Less than 12 Months, Unrealized Loss		0
12 Months or More, Fair Value	1,000	8,373
12 Months or More, Unrealized Loss		6
Total, Fair Value	1,000	8,373
Total, Unrealized Loss		6
State and political subdivisions
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 Months, Fair Value	439	0
Less than 12 Months, Unrealized Loss		0
12 Months or More, Fair Value		438
12 Months or More, Unrealized Loss		2
Total, Fair Value	439	438
Total, Unrealized Loss		2
U.S. Government-sponsored and guaranteed mortgage-backed securities
Schedule of Held-to-maturity Securities [Line Items]
Less than 12 Months, Fair Value	6,427	0
Less than 12 Months, Unrealized Loss	23	0
12 Months or More, Fair Value	17,585	29,400
12 Months or More, Unrealized Loss	140	212
Total, Fair Value	24,012	29,400
Total, Unrealized Loss	$ 163	$ 212

Investment Securities - Other t

Investment Securities - Other than temporarily impaired debt securities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Schedule Of Debt Securities [Line Items]
Less than 12 Months, Fair Value	$ 9,397	$ 4,669
Less than 12 Months, Unrealized Loss	47	42
12 Months or More, Fair Value	31,193	58,652
12 Months or More, Unrealized Loss	836	1,060
Total, Fair Value	40,590	63,321
Total, Unrealized Loss	883	1,102
Non-agency mortgage-backed securities
Schedule Of Debt Securities [Line Items]
Less than 12 Months, Fair Value	265	268
Less than 12 Months, Unrealized Loss	12	11
12 Months or More, Fair Value	952	947
12 Months or More, Unrealized Loss	265	329
Total, Fair Value	1,217	1,215
Total, Unrealized Loss	$ 277	$ 340

Investment Securities - Activit

Investment Securities - Activity of credit component recognized in earnings (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Balance at beginning of year	$ 16,016	$ 15,983
Additional credit losses on securities for which an other-than-temporary impairment charge was previously recorded	47	0
Balance at end of year	$ 16,063	$ 15,983

Investment Securities - Additio

Investment Securities - Additional Information (Details)	3 Months Ended
	Sep. 30, 2019USD ($)security	Sep. 30, 2018USD ($)	Jun. 30, 2019USD ($)
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Available-for-sale securities, amortized cost basis	$ 37,230,000		$ 39,260,000
Fair Value	$ 37,035,000		$ 38,919,000
Percentage of amortized cost basis as aggregate depreciation of investment securities	2.10%
Other-than-temporary impairment charges on available-for-sale securities	$ 47,000	$ 0
Gains on sales of available-for-sale securities	$ 0	$ 0
Number of individual investment securities with unrealized losses | security	50
Other-than-temporary impairment losses on other comprehensive loss	$ 152,000
Trust Preferred Securities [Member]
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Number of investments in trust preferred securities | security	3
Available-for-sale securities, amortized cost basis	$ 4,000,000
Fair Value	$ 3,700,000
State and political subdivisions
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Number of available for sale securities with unrealized losses | security	1
Percentage of amortized cost basis as aggregate depreciation of investment securities	0.10%
Non-agency mortgage-backed securities
Schedule Of Available For Sale Securities And Held To Maturity Securities [Line Items]
Other-than-temporary impairment charges on available-for-sale securities	$ (199,000)

Loans - Summary of loans (Detai

Loans - Summary of loans (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Loans and Leases Receivable Disclosure [Line Items]
Total loans	$ 374,436	$ 379,924
Net deferred loan costs	1,118	1,156
Less: Allowance for loan losses	(3,212)	(3,063)
Net loans	372,342	378,017
Real Estate | Residential Real Estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	216,101	221,488
Real Estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total loans	144,360	145,694
Real Estate | Residential Construction
Loans and Leases Receivable Disclosure [Line Items]
Total loans	1,974	1,476
Commercial
Loans and Leases Receivable Disclosure [Line Items]
Total loans	11,216	10,298
Consumer
Loans and Leases Receivable Disclosure [Line Items]
Total loans	$ 785	$ 968

Loans - Loans by risk rating (D

Loans - Loans by risk rating (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 374,436	$ 379,924
Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	366,073	372,428
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	2,951	1,557
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	5,412	5,939
Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Loss
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Real Estate | Residential Real Estate
Financing Receivable, Recorded Investment [Line Items]
Total loans	216,101	221,488
Real Estate | Residential Real Estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	211,480	217,800
Real Estate | Residential Real Estate | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,384	0
Real Estate | Residential Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	3,237	3,688
Real Estate | Residential Real Estate | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Real Estate | Residential Real Estate | Loss
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Real Estate | Commercial
Financing Receivable, Recorded Investment [Line Items]
Total loans	144,360	145,694
Real Estate | Commercial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	141,541	142,829
Real Estate | Commercial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,567	1,557
Real Estate | Commercial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,252	1,308
Real Estate | Commercial | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Real Estate | Commercial | Loss
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Real Estate | Residential Construction
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,974	1,476
Real Estate | Residential Construction | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	1,974	1,476
Real Estate | Residential Construction | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Real Estate | Residential Construction | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Real Estate | Residential Construction | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Real Estate | Residential Construction | Loss
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Commercial
Financing Receivable, Recorded Investment [Line Items]
Total loans	11,216	10,298
Commercial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	10,293	9,355
Commercial | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Commercial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	923	943
Commercial | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Commercial | Loss
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Consumer
Financing Receivable, Recorded Investment [Line Items]
Total loans	785	968
Consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans	785	968
Consumer | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Consumer | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans	0	0
Consumer | Loss
Financing Receivable, Recorded Investment [Line Items]
Total loans	$ 0	$ 0

Non-performing Assets, Past D_3

Non-performing Assets, Past Due and Impaired Loans - Categories of non-performing assets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Non Accrual Loans [Abstract]
Total non-accrual loans	$ 3,763	$ 3,790
Accruing loans past due 90 days or more		438
Total non-performing loans	3,763	4,228
Other real estate owned	1,327	1,271
Total non-performing assets	$ 5,090	$ 5,499
Total non-performing loans to total loans	1.00%	1.11%
Total non-performing assets to total assets	0.94%	1.02%
Real Estate | Residential Real Estate
Non Accrual Loans [Abstract]
Total non-accrual loans	$ 3,237	$ 3,530
Accruing loans past due 90 days or more		159
Real Estate | Commercial
Non Accrual Loans [Abstract]
Total non-accrual loans	$ 526	260
Accruing loans past due 90 days or more		279
Consumer
Non Accrual Loans [Abstract]
Total non-accrual loans		$ 0

Non-performing Assets, Past D_4

Non-performing Assets, Past Due and Impaired Loans - Past due loans (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 1,367	$ 1,386
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	250	42
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	393	397
90 days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	724	947
Real Estate | Residential Real Estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,083	1,104
Real Estate | Residential Real Estate | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	245	39
Real Estate | Residential Real Estate | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	392	397
Real Estate | Residential Real Estate | 90 days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	446	668
Real Estate | Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	278	279
Real Estate | Commercial | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		0
Real Estate | Commercial | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		0
Real Estate | Commercial | 90 days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	278	279
Consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	6	3
Consumer | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	5	3
Consumer | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 1	0
Consumer | 90 days or Greater Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		$ 0

Non-performing Assets, Past D_5

Non-performing Assets, Past Due and Impaired Loans - Impaired loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019
Financing Receivable, Impaired [Line Items]
Impaired loans without valuation allowance, Recorded investment	$ 2,078		$ 2,410
Impaired loans without valuation allowance, Unpaid principal balance	2,224		2,556
Impaired loans without valuation allowance, Average Recorded investment	2,244	$ 3,336
Impaired loans without valuation allowance, Interest Income Recognized	20	24
Impaired loans without valuation allowance, Interest Income Recognized on Cash Basis	18	14
Real Estate | Residential Real Estate
Financing Receivable, Impaired [Line Items]
Impaired loans without valuation allowance, Recorded investment	1,830		2,150
Impaired loans without valuation allowance, Unpaid principal balance	1,976		2,296
Impaired loans without valuation allowance, Average Recorded investment	1,990	2,512
Impaired loans without valuation allowance, Interest Income Recognized	20	17
Impaired loans without valuation allowance, Interest Income Recognized on Cash Basis	18	14
Real Estate | Commercial
Financing Receivable, Impaired [Line Items]
Impaired loans without valuation allowance, Recorded investment	248		260
Impaired loans without valuation allowance, Unpaid principal balance	248		$ 260
Impaired loans without valuation allowance, Average Recorded investment	254	824
Impaired loans without valuation allowance, Interest Income Recognized	0	7
Impaired loans without valuation allowance, Interest Income Recognized on Cash Basis	$ 0	$ 0

Allowance for Loan Losses - Sch

Allowance for Loan Losses - Schedule of Analysis of the Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Allowance for loan losses:
Beginning balance	$ 3,063	$ 2,943
Charge-offs	(9)	(8)
Recoveries	8	571
(Credit) provision	150	(600)
Ending Balance	3,212	2,906
Real Estate | Residential Real Estate
Allowance for loan losses:
Beginning balance	1,456	1,385
Charge-offs		0
Recoveries	3	5
(Credit) provision	92	98
Ending Balance	1,551	1,488
Real Estate | Commercial
Allowance for loan losses:
Beginning balance	1,418	1,194
Charge-offs		0
Recoveries		560
(Credit) provision	25	(660)
Ending Balance	1,443	1,094
Real Estate | Residential Construction
Allowance for loan losses:
Beginning balance	10	14
Charge-offs		0
Recoveries		0
(Credit) provision	4	(7)
Ending Balance	14	7
Commercial
Allowance for loan losses:
Beginning balance	79	80
Charge-offs		0
Recoveries	3	2
(Credit) provision	9	(5)
Ending Balance	91	77
Consumer
Allowance for loan losses:
Beginning balance	28	135
Charge-offs	(9)	(8)
Recoveries	2	4
(Credit) provision	1	0
Ending Balance	22	131
Unallocated
Allowance for loan losses:
Beginning balance	72	135
Charge-offs		0
Recoveries		0
(Credit) provision	19	(26)
Ending Balance	$ 91	$ 109

Allowance for Loan Losses - Sum

Allowance for Loan Losses - Summary of Impaired and Non-Impaired Loans and Allowance for Loan Losses (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018	Jun. 30, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	$ 3,212	$ 3,063	$ 2,906	$ 2,943
Loans: Ending balance Impaired loans/Non-impaired loans	374,436	379,924
Impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	0	0
Loans: Ending balance Impaired loans/Non-impaired loans	2,078	2,410
Non-impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	3,212	3,063
Loans: Ending balance Impaired loans/Non-impaired loans	372,358	377,514
Real Estate | Residential Real Estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	1,551	1,456	1,488	1,385
Loans: Ending balance Impaired loans/Non-impaired loans	216,101	221,488
Real Estate | Residential Real Estate | Impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	0	0
Loans: Ending balance Impaired loans/Non-impaired loans	1,830	2,150
Real Estate | Residential Real Estate | Non-impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	1,551	1,456
Loans: Ending balance Impaired loans/Non-impaired loans	214,271	219,338
Real Estate | Commercial
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	1,443	1,418	1,094	1,194
Loans: Ending balance Impaired loans/Non-impaired loans	144,360	145,694
Real Estate | Commercial | Impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	0	0
Loans: Ending balance Impaired loans/Non-impaired loans	248	260
Real Estate | Commercial | Non-impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	1,443	1,418
Loans: Ending balance Impaired loans/Non-impaired loans	144,112	145,434
Real Estate | Residential Construction
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	14	10	7	14
Loans: Ending balance Impaired loans/Non-impaired loans	1,974	1,476
Real Estate | Residential Construction | Impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	0	0
Loans: Ending balance Impaired loans/Non-impaired loans		0
Real Estate | Residential Construction | Non-impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	14	10
Loans: Ending balance Impaired loans/Non-impaired loans	1,974	1,476
Commercial
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	91	79	77	80
Loans: Ending balance Impaired loans/Non-impaired loans	11,216	10,298
Commercial | Impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	0	0
Loans: Ending balance Impaired loans/Non-impaired loans		0
Commercial | Non-impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	91	79
Loans: Ending balance Impaired loans/Non-impaired loans	11,216	10,298
Consumer
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	22	28	131	135
Loans: Ending balance Impaired loans/Non-impaired loans	785	968
Consumer | Impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	0	0
Loans: Ending balance Impaired loans/Non-impaired loans		0
Consumer | Non-impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	22	28
Loans: Ending balance Impaired loans/Non-impaired loans	785	968
Unallocated
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	91	72	$ 109	$ 135
Unallocated | Impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	0	0
Loans: Ending balance Impaired loans/Non-impaired loans		0
Unallocated | Non-impaired loan receivables
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending balance : Amount of allowance for loan losses for Impaired/ Non-impaired loans	$ 91	72
Loans: Ending balance Impaired loans/Non-impaired loans		$ 0

Stock-Based Incentive Plan - Na

Stock-Based Incentive Plan - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Feb. 28, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 111	$ 118
Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares granted			634,573
Vesting percentage of stock awards granted	20.00%
Incentive Plan | Stock Options | Employees Officers And Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares granted			453,267
Incentive Plan | Restricted Stock | Employees Officers And Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares granted			181,306

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Tax effect (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Accumulated Other Comprehensive Loss
Net unrealized loss on securities available-for-sale	$ (195)	$ (341)
Tax effect	40	72
Accumulated other comprehensive loss	$ (155)	$ (269)

FAIR VALUE MEASUREMENTS - Measu

FAIR VALUE MEASUREMENTS - Measured at fair value on a recurring basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Available-for-sale:
Assets measured at fair value	$ 37,035	$ 38,919
U.S. government and government-sponsored securities
Available-for-sale:
Assets measured at fair value	2,020	2,242
Corporate bonds
Available-for-sale:
Assets measured at fair value	3,692	3,676
U.S. Government-sponsored and guaranteed mortgage-backed securities
Available-for-sale:
Assets measured at fair value	18,816	20,452
Non-agency mortgage-backed securities
Available-for-sale:
Assets measured at fair value	2,507	2,573
Other securities
Available-for-sale:
Assets measured at fair value	10,000	9,976
Level 1
Available-for-sale:
Assets measured at fair value	0	0
Level 1 | U.S. government and government-sponsored securities
Available-for-sale:
Assets measured at fair value	0	0
Level 1 | Corporate bonds
Available-for-sale:
Assets measured at fair value	0	0
Level 1 | U.S. Government-sponsored and guaranteed mortgage-backed securities
Available-for-sale:
Assets measured at fair value	0	0
Level 1 | Non-agency mortgage-backed securities
Available-for-sale:
Assets measured at fair value	0	0
Level 1 | Other securities
Available-for-sale:
Assets measured at fair value	0	0
Level 2
Available-for-sale:
Assets measured at fair value	27,035	28,943
Level 2 | U.S. government and government-sponsored securities
Available-for-sale:
Assets measured at fair value	2,020	2,242
Level 2 | Corporate bonds
Available-for-sale:
Assets measured at fair value	3,692	3,676
Level 2 | U.S. Government-sponsored and guaranteed mortgage-backed securities
Available-for-sale:
Assets measured at fair value	18,816	20,452
Level 2 | Non-agency mortgage-backed securities
Available-for-sale:
Assets measured at fair value	2,507	2,573
Level 2 | Other securities
Available-for-sale:
Assets measured at fair value	0	0
Level 3
Available-for-sale:
Assets measured at fair value	10,000	9,976
Level 3 | U.S. government and government-sponsored securities
Available-for-sale:
Assets measured at fair value	0	0
Level 3 | Corporate bonds
Available-for-sale:
Assets measured at fair value	0	0
Level 3 | U.S. Government-sponsored and guaranteed mortgage-backed securities
Available-for-sale:
Assets measured at fair value	0	0
Level 3 | Non-agency mortgage-backed securities
Available-for-sale:
Assets measured at fair value	0	0
Level 3 | Other securities
Available-for-sale:
Assets measured at fair value	$ 10,000	$ 9,976

FAIR VALUE MEASUREMENTS - Mea_2

FAIR VALUE MEASUREMENTS - Measured at fair value on a non-recurring basis (Details) - Fair value measurements non recurring basis - USD ($)	3 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value		$ 0	$ 1,203,000
Total Losses	$ 91,000
Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value			219,000
Total Losses	0
Other real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value			984,000
Total Losses	$ 91,000
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value			0
Level 1 | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value			0
Level 1 | Other real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value			0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value			0
Level 2 | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value			0
Level 2 | Other real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value			0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value			1,203,000
Level 3 | Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value			219,000
Level 3 | Other real estate owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value			$ 984,000

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Financial assets:
Securities available-for-sale	$ 37,035	$ 38,919
Securities held-to-maturity	58,545	63,858
Accrued interest receivable	1,400	1,559
Financial liabilities:
Mortgagors' escrow accounts	1,701	3,371
Carrying Amount
Financial assets:
Cash and cash equivalents	44,456	25,672
Securities available-for-sale	37,035	38,919
Securities held-to-maturity	58,092	63,480
Federal Home Loan Bank stock	3,464	3,464
Loans, net	372,342	378,017
Accrued interest receivable	1,400	1,559
Financial liabilities:
Deposits	392,441	383,859
Mortgagors' escrow accounts	1,701	3,371
Federal Home Loan Bank advances	60,132	62,145
Securities sold under agreements to repurchase	1,618	804
Accrued interest payable	343	251
Fair Value
Financial assets:
Cash and cash equivalents	44,456	25,672
Securities available-for-sale	37,035	38,919
Securities held-to-maturity	58,545	63,858
Federal Home Loan Bank stock	3,464	3,464
Loans, net	363,409	366,442
Accrued interest receivable	1,400	1,559
Financial liabilities:
Deposits	393,429	384,698
Mortgagors' escrow accounts	1,701	3,371
Federal Home Loan Bank advances	59,946	62,773
Securities sold under agreements to repurchase	1,618	804
Accrued interest payable	343	251
Level 1
Financial assets:
Cash and cash equivalents	44,456	25,672
Securities available-for-sale	0	0
Securities held-to-maturity	0	0
Federal Home Loan Bank stock	0	0
Loans, net	0	0
Accrued interest receivable	0	0
Financial liabilities:
Deposits	0	0
Mortgagors' escrow accounts	0	0
Federal Home Loan Bank advances	0	0
Securities sold under agreements to repurchase	0	0
Accrued interest payable	0	0
Level 2
Financial assets:
Cash and cash equivalents	0	0
Securities available-for-sale	27,035	28,943
Securities held-to-maturity	58,545	63,858
Federal Home Loan Bank stock	0	0
Loans, net	0	0
Accrued interest receivable	0	0
Financial liabilities:
Deposits	0	0
Mortgagors' escrow accounts	0	0
Federal Home Loan Bank advances	59,946	62,773
Securities sold under agreements to repurchase	1,618	804
Accrued interest payable	0	0
Level 3
Financial assets:
Cash and cash equivalents	0	0
Securities available-for-sale	10,000	9,976
Securities held-to-maturity	0	0
Federal Home Loan Bank stock	3,464	3,464
Loans, net	363,409	366,442
Accrued interest receivable	1,400	1,559
Financial liabilities:
Deposits	393,429	384,698
Mortgagors' escrow accounts	1,701	3,371
Federal Home Loan Bank advances	0	0
Securities sold under agreements to repurchase	0	0
Accrued interest payable	$ 343	$ 251

Subsequent Events (Detail)

Subsequent Events (Detail) - $ / shares	Oct. 02, 2019	Sep. 30, 2019	Sep. 30, 2018
Subsequent Event [Line Items]
Cash dividends declared and paid (in dollars per share)		$ 0.07	$ 0.06
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends payable declared date	Oct. 2, 2019
Cash dividends declared and paid (in dollars per share)	$ 0.07
Dividends payable record date	Oct. 16, 2019
Dividends payable date	Oct. 30, 2019

Commitments to Extend Credit (D

Commitments to Extend Credit (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jun. 30, 2019
Commitments to extend credit:
Outstanding commitments	$ 47,154	$ 30,204
Commitments to grant loans
Commitments to extend credit:
Outstanding commitments	20,262	1,118
Unadvanced construction loans
Commitments to extend credit:
Outstanding commitments	4,852	6,872
Unadvanced lines of credit
Commitments to extend credit:
Outstanding commitments	21,645	21,819
Standby letters of credit
Commitments to extend credit:
Outstanding commitments	$ 395	$ 395