Fair Value of Financial Instruments (Tables)

6 Months Ended

Dec. 31, 2023

Fair Value of Financial Instruments

Schedule of assets measured at fair value on recurring basis

	December 31, 2023
(Dollars in thousands)	Level I		Level II		Level III		Total
Assets:
Investments available for sale:
Mortgage-backed securities	$	—	$	104,855	$	—	$	104,855
U.S. agency collateralized mortgage obligations		—		7,881		—		7,881
U.S. government agency securities		—		809		—		809
Municipal bonds		—		15,226		—		15,226
Corporate bonds		—		32,167		—		32,167
Equity securities		1,850		—		—		1,850
Total Assets	$	1,850	$	160,938	$	—	$	162,788

	June 30, 2023
(Dollars in thousands)	Level I		Level II		Level III		Total
Assets:
Investments available for sale:
Mortgage-backed securities	$	—	$	106,756	$	—	$	106,756
U.S. agency collateralized mortgage obligations		—		8,292		—		8,292
U.S. government agency securities		—		3,932		—		3,932
Municipal bonds		—		14,979		—		14,979
Corporate bonds		—		31,168		—		31,168
Equity securities		1,629		—		—		1,629
Total Assets	$	1,629	$	165,127	$	—	$	166,756

Schedule of carrying amount and fair value of financial assets and liabilities

	Fair Value Measurements at December 31, 2023
					Quoted Prices		Significant		Significant
					in Active Markets		Other Observable		Unobservable
	Carrying		Fair		for Identical Assets		Inputs		Inputs
(Dollars in thousands)	Amount		Value		(Level 1)		(Level 2)		(Level 3)
Financial instruments - assets:
Loans receivable, net	$	467,214	$	427,668	$	—	$	—	$	427,668
Securities held to maturity		96,404		81,239		—		81,239		—
Financial instruments - liabilities:
Certificates of deposit		157,634		154,955		—		—		154,955
Advances from Federal Home Loan Bank		54,000		54,033		—		—		54,033
Off-balance sheet financial instruments		—		—		—		—		—

	Fair Value Measurements at June 30, 2023
					Quoted Prices		Significant		Significant
					in Active Markets		Other Observable		Unobservable
	Carrying		Fair		for Identical Assets		Inputs		Inputs
(Dollars in thousands)	Amount		Value		(Level 1)		(Level 2)		(Level 3)
Financial instruments - assets:
Loans receivable, net	$	477,543	$	436,636	$	—	$	—	$	436,636
Securities held to maturity		99,690		82,313		—		82,313		—
Financial instruments - liabilities:
Certificates of deposit		159,377		155,426		—		—		155,426
Advances from Federal Home Loan Bank		34,000		34,000		—		—		34,000
Off-balance sheet financial instruments		—		—		—		—		—