Premises and Equipment

12 Months Ended

Jun. 30, 2022

Premises and Equipment

Premises and Equipment

Note 7 – Premises and Equipment

The components of premises and equipment are as follows as of June 30, 2022 and 2021:

	June 30,
(Dollars in thousands)	2022		2021
Land	$	2,156	$	2,581
Office buildings and improvements		11,769		12,932
Furniture, fixtures and equipment		2,540		2,428
Automobiles		58		50
		16,523		17,991
Accumulated depreciation		(4,827)		(4,552)
	$	11,696	$	13,439

Depreciation expense amounted to $975 thousand and $985 thousand for the years ended June 30, 2022 and 2021, respectively.

During the year ended June 30, 2022, the Company transferred properties from premises and equipment with a total carrying value of $1.6 million to the held for sale classification and recorded a $20 thousand net loss on disposition of fixed assets. The Company intends to sell these properties by December 31, 2022.