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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND NATURE OF BUSINESS (Tables)
 3 Months Ended
Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule Of Earnings (Loss) Per Share

The following table presents the factors used in the earnings per share calculation:

 

 

For the Three Months Ended

 

(Dollars In thousands)

 

September 30, 2023

 

 

September 30, 2022

 

Net income

 

$

123

 

 

$

645

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding

 

 

6,632,642

 

 

 

6,521,642

 

Less: Average unallocated ESOP shares

 

 

(239,439

)

 

 

(249,665

)

Less: Average non-vested restricted shares

 

 

(111,000

)

 

 

-

 

Weighted average number of common shares outstanding used to calculate basic earnings per common share

 

 

6,282,203

 

 

 

6,271,977

 

Dilutive effect of share-based compensation

 

 

-

 

 

 

-

 

Weighted average number of common shares outstanding used to calculate diluted earnings per common share

 

 

6,282,203

 

 

 

6,271,977

 

 

 

 

 

 

 

 

Earnings per common share

 

 

 

 

 

 

Basic

 

$

0.02

 

 

$

0.10

 

Diluted

 

$

0.02

 

 

$

0.10