Premises and Equipment

6 Months Ended

Dec. 31, 2023

Premises and Equipment

Premises and Equipment

Note 7 – Premises and Equipment

The components of premises and equipment are as follows as of December 31, 2023 and June 30, 2023:

	December 31,		June 30,
(Dollars in thousands)	2023		2023
Land	$	1,441	$	1,778
Office buildings and improvements		7,894		9,080
Furniture, fixtures and equipment		2,298		2,273
Automobiles		58		58
		11,691		13,189
Accumulated depreciation		(4,170)		(4,135)
	$	7,521	$	9,054

Depreciation expense amounted to $203 thousand and $400 thousand for the three and six months ended December 31, 2023, respectively, and $319 thousand and $584 thousand for the three and six months ended December 31, 2022, respectively.  During the six months ended December 31, 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 December 31, 2024.