Goodwill and Intangible Assets

12 Months Ended

Jun. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 6. Goodwill and Intangible Assets

The change in goodwill during the years ended June 30, 2021 and 2020 is as follows (in thousands):

	2021		2020
Balance at July 1,	$	6,106	$	6,106
Impairment		-		-
Total at June 30,	$	6,106	$	6,106

Impairment exists when a reporting unit’s carrying value of goodwill exceeds its fair value. The Company tests for goodwill impairment on an annual basis as of June 30^th. No impairment charges were required to be recorded in the years ended June 30, 2021 or 2020.

Acquired Intangible Assets: Acquired intangible assets were as follows at June 30 (in thousands):

	2021					2020
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Amortized intangible assets:
Core deposit intangible	$	887	$	(736	)	$	887	$	(658	)

Aggregate amortization expense was $78,000 and $94,000 for the years ended June 30, 2021 and 2020, respectively.

Estimated amortization expense for each of the next five fiscal years ended June 30 (in thousands):

2022	$	62
2023		46
2024		30
2025		13
2026		-