Parent Company Financial Information

12 Months Ended

Jun. 30, 2023

Parent Company Financial Information

Parent Company Financial Information

Note 19 — Parent Company Financial Information

WILLIAM PENN BANCORPORATION

CONDENSED STATEMENTS OF FINANCIAL CONDITION — PARENT COMPANY ONLY

(Dollars in thousands)

As of June 30, 2023 and 2022

	June 30,
	2023		2022
ASSETS
Cash on deposit at the Bank	$	14,119	$	41,301
Investment in the Bank		144,004		148,364
Equity securities		1,629		2,258
Other assets		1,190		551
TOTAL ASSETS	$	160,942	$	192,474
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Accrued and other liabilities	$	197	$	148
TOTAL LIABILITIES		197		148
Commitments and contingencies		—		—
STOCKHOLDERS’ EQUITY		160,745		192,326
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	160,942	$	192,474

WILLIAM PENN BANCORPORATION

CONDENSED STATEMENTS OF OPERATIONS — PARENT COMPANY ONLY

(Dollars in thousands)

For the Years Ended June 30, 2023 and 2022

	Year Ended June 30,
	2023		2022
INCOME
Interest on interest-bearing deposits with the Bank	$	79	$	142
Interest income on securities		131		114
Unrealized loss on equity securities		(629)		(242)
Total (loss) income		(419)		14
EXPENSES
Professional fees		495		570
Other expenses		202		175
Total expenses		697		745
Loss before income tax benefit and equity in undistributed net income of affiliates		(1,116)		(731)
Income tax benefit		(257)		(168)
Equity in undistributed net income of the Bank		3,661		4,800
NET INCOME	$	2,802	$	4,237
Comprehensive loss	$	(5,219)	$	(11,056)

WILLIAM PENN BANCORPORATION

CONDENSED STATEMENTS OF CASH FLOW — PARENT COMPANY ONLY

(Dollars in thousands)

For the Years Ended June 30, 2023 and 2022

	Year Ended
	June 30,
	2023		2022
Cash flows from operating activities
Net income	$	2,802	$	4,237
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Equity in undistributed net earnings of subsidiaries		(3,661)		(4,800)
Unrealized loss on equity securities		629		242
Net intercompany transactions		1,483		—
Other		205		350
Net cash provided by operating activities		1,458		29
Cash flows from investing activities
Purchases of equity securities		—		(2,500)
Net cash used in investing activities		—		(2,500)
Cash flows from financing activities
Cash dividends		(1,584)		(5,143)
Stock purchased and retired		(27,056)		(9,080)
Net cash used in financing activities		(28,640)		(14,223)
Net decrease in cash and cash equivalents		(27,182)		(16,694)
Cash and cash equivalents – beginning		41,301		57,995
Cash and cash equivalents – ending	$	14,119	$	41,301
Supplementary cash flows information
Income tax payments	$	—	$	—