Business Combinations (Tables)

12 Months Ended

Jun. 30, 2021

Fidelity

Business Acquisition [Line Items]

Summary of fair value of equity, and the fair value of identifiable assets acquired and liabilities assumed as of the date of acquisition

(Dollars in thousands)
Fair value of equity	$	11,377
Assets acquired:
Cash and due from financial institutions	$	26,867
Interest-bearing time deposits		462
Loans receivable, net		55,949
Premises and equipment		747
Regulatory stock		334
Deferred income taxes		564
Other real estate owned		100
Core deposit intangible		65
Accrued interest receivable		209
Other assets		272
Total assets	$	85,569
Liabilities assumed:
Deposits	$	(66,409)
Advances from Federal Home Loan Bank		(5,688)
Accrued interest payable		(5)
Other liabilities		(1,477)
Total liabilities	$	(73,579)
Net assets acquired		11,990
Gain on bargain purchase	$	(613)

Summary of details the loans that are accounted for in accordance with FASB ASC 310-30

(Dollars in thousands)
Contractually required principal and interest at acquisition	$	619
Contractual cash flows not expected to be collected (nonaccretable difference)		431
Expected cash flows at acquisition		188
Interest component of expected cash flows (accretable discount)		27
Fair value of acquired loans accounted for under FASB ASC 310-30	$	161

Schedule of acquired loans not subject to the requirements of FASB ASC 310-30

(Dollars in thousands)
Contractually required principal at acquisition	$	56,785
Contractual cash flows not expected to be collected (credit mark)		1,240
Expected cash flows at acquisition		55,545
Interest rate premium mark		243
Fair value of acquired loans not accounted for under FASB ASC 310-30	$	55,788

Schedule of operating results attributable to acquiree

	Fidelity May 1, 2020
(Dollars in thousands)	to June 30, 2020
Net interest income	$	313
Non-interest income		17
Non-interest expense		(331)
Pre-tax income	$	(1)
Income tax expense		—
Net income	$	(1)

Summary of pro forma information

	Pro Forma for the Year Ended
(Dollars in thousands)	June 30, 2020		June 30, 2019
Net interest income	$	17,352	$	17,478
Provision for loan losses		(695)		(105)
Non-interest income		1,672		1,915
Non-interest expense		(16,005)		(14,819)
Pre-tax income	$	2,324	$	4,469
Income tax expense		488		938
Net income	$	1,836	$	3,531
Earnings per share basic and diluted	$	0.13	$	0.24

Washington

Business Acquisition [Line Items]

Summary of fair value of equity, and the fair value of identifiable assets acquired and liabilities assumed as of the date of acquisition

(Dollars in thousands)
Fair value of equity	$	9,165
Assets acquired:
Cash and due from financial institutions	$	21,981
Securities available for sale		1,996
Interest-bearing time deposits		100
Loans receivable, net		121,520
Premises and equipment		6,356
Regulatory stock		1,214
Deferred income taxes		2,154
Bank-owned life insurance		3,208
Core deposit intangible		197
Accrued interest receivable		413
Other assets		146
Total assets	$	159,285
Liabilities assumed:
Deposits	$	(135,546)
Advances from Federal Home Loan Bank		(11,281)
Accrued interest payable		(145)
Other liabilities		(3,015)
Total liabilities	$	(149,987)
Net assets acquired		9,298
Gain on bargain purchase	$	(133)

Summary of details the loans that are accounted for in accordance with FASB ASC 310-30

(Dollars in thousands)
Contractually required principal and interest at acquisition	$	420
Contractual cash flows not expected to be collected (nonaccretable difference)		230
Expected cash flows at acquisition		190
Interest component of expected cash flows (accretable discount)		27
Fair value of acquired loans accounted for under FASB ASC 310-30	$	163

Schedule of acquired loans not subject to the requirements of FASB ASC 310-30

(Dollars in thousands)
Contractually required principal at acquisition	$	125,491
Contractual cash flows not expected to be collected (credit mark)		2,440
Expected cash flows at acquisition		123,051
Interest rate discount mark		1,694
Fair value of acquired loans not accounted for under FASB ASC 310-30	$	121,357

Schedule of operating results attributable to acquiree

	Washington May 1, 2020
(Dollars in thousands)	to June 30, 2020
Net interest income	$	591
Non-interest income		67
Non-interest expense		(628)
Pre-tax income	$	30
Income tax expense		(6)
Net income	$	24

Summary of pro forma information

	Pro Forma for the Year Ended
(Dollars in thousands)	June 30, 2020		June 30, 2019
Net interest income	$	19,112	$	20,149
Provision for loan losses		(752)		(196)
Non-interest income		2,409		1,715
Non-interest expense		(17,392)		(18,223)
Pre-tax income	$	3,377	$	3,445
Income tax expense		709		723
Net income	$	2,668	$	2,722
Earnings per share basic and diluted	$	0.18	$	0.19