Note 8 - COVID-19

6 Months Ended

Dec. 31, 2020

COVID 19 [Member]

Notes to Financial Statements

Unusual or Infrequent Items, or Both, Disclosure [Text Block]

Note

8

– COVID-

19

In

December 2019,

a novel strain of coronavirus surfaced in Wuhan, China, and has spread around the world, resulting in business and social disruption. The coronavirus was declared a Pandemic by the World Health Organization on

March 11, 2020.

The operations and business results of the Corporation could be materially adversely affected. The extent to which the coronavirus

may

impact business activity or investment results will depend on future developments, which are highly uncertain and cannot be predicted, including new information which

may

emerge concerning the severity of the coronavirus and the actions required to contain the coronavirus or treat its impact, among others. As a result of the economic shutdown engineered to slow down the spread of COVID-

19,

the ability of our customers to make payments on loans could be adversely impacted, resulting in elevated loan losses and an increase in the Corporation's allowance for loan losses. Additionally, it is reasonably possible future evaluations of the carrying amount of goodwill could result in a conclusion that goodwill is impaired.