Premises and Equipment

9 Months Ended

Mar. 31, 2024

Premises and Equipment

Premises and Equipment

Note 7 – Premises and Equipment

The components of premises and equipment are as follows as of March 31, 2024 and June 30, 2023:

	March 31,		June 30,
(Dollars in thousands)	2024		2023
Land	$	1,441	$	1,778
Office buildings and improvements		7,904		9,080
Furniture, fixtures and equipment		2,304		2,273
Automobiles		58		58
		11,707		13,189
Accumulated depreciation		(4,355)		(4,135)
	$	7,352	$	9,054

Depreciation expense amounted to $184 thousand and $585 thousand for the three and nine months ended March 31, 2024, respectively, and $232 thousand and $815 thousand for the three and nine months ended March 31, 2023, respectively.  During the nine months ended March 31, 2024, the Company transferred one property with a carrying value of $1.2 million to the held for sale classification reported in the accrued interest receivable and other assets line on the consolidated statements of financial condition. The Company intends to sell this property by December 31, 2024.