Premises and Equipment

3 Months Ended

Sep. 30, 2023

Premises and Equipment

Premises and Equipment

Note 7 – Premises and Equipment

The components of premises and equipment are as follows as of September 30, 2023 and June 30, 2023:

	September 30,		June 30,
(Dollars in thousands)	2023		2023
Land	$	1,441	$	1,778
Office buildings and improvements		7,878		9,080
Furniture, fixtures and equipment		2,266		2,273
Automobiles		58		58
		11,643		13,189
Accumulated depreciation		(3,975)		(4,135)
	$	7,668	$	9,054

Depreciation expense amounted to $197 thousand and $265 thousand for the three months ended September 30, 2023 and 2022, respectively.  During the three months ended September 30, 2023, the Company transferred one property with a carrying value of $1.2 million to the held for sale classification.  The Company intends to sell this property by June 30, 2024.