Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Dec. 31, 2022

Loans and Allowance for Loan Losses

Schedule of categories of loans

Categories of loans at December 31, 2022 and June 30, 2022 include:

	December 31,		June 30,
	2022		2022
		(Unaudited)
Real estate loans:
Commercial	$	4,865,994	$	5,136,407
Residential		66,402,411		65,638,154
Multifamily		703,814		718,911
Agricultural		4,472,173		3,450,672
Construction and land		5,357,109		6,006,613
Home equity line of credit (HELOC)		388,918		264,421
Commercial and industrial		299,250		339,094
Consumer		721,619		713,323
Total loans		83,211,288		82,267,595
Less:
Undisbursed loans in process		3,092,532		4,324,320
Net deferred loan fees		13,648		10,203
Allowance for loan losses		222,884		222,884
Net loans	$	79,882,224	$	77,710,188

Schedule of allowance for loan losses based on portfolio segment and impairment method

The following tables present the activity in the allowance for loan losses based on portfolio segment for the three and six months ended December 31, 2022 and 2021.

	Balance		Provision (credit)						Balance
	September 30, 2022		for loan losses		Charge-offs		Recoveries		December 31, 2022
	(Unaudited)
Real estate loans:
Commercial	$	19,694	$	(572)	$	—	$	—	$	19,122
Residential		175,740		(2,267)		—		—		173,473
Multifamily		1,879		(35)		—		—		1,844
Agricultural		15,904		1,671		—		—		17,575
Construction and land		6,087		1,572		—		—		7,659
HELOC		1,196		(178)		—		—		1,018
Commercial and industrial		1,304		(128)		—		—		1,176
Consumer		1,080		(63)		—		—		1,017
Total	$	222,884	$	—	$	—	$	—	$	222,884

	Balance		Provision (credit)						Balance
	June 30, 2022		for loan losses		Charge-offs		Recoveries		December 31, 2022
	(Unaudited)
Real estate loans:
Commercial	$	20,643	$	(1,521)	$	—	$	—	$	19,122
Residential		177,830		(4,357)		—		—		173,473
Multifamily		1,926		(82)		—		—		1,844
Agricultural		13,868		3,707		—		—		17,575
Construction and land		5,477		2,182		—		—		7,659
HELOC		1,306		(288)		—		—		1,018
Commercial and industrial		709		467		—		—		1,176
Consumer		1,125		(108)		—		—		1,017
Total	$	222,884	$	—	$	—	$	—	$	222,884

	Balance		Provision (credit)						Balance
	September 30, 2021		for loan losses		Charge-offs		Recoveries		December 31, 2021
	(Unaudited)
Real estate loans:
Commercial	$	26,165	$	2,857	$	—	$	—	$	29,022
Residential		172,441		(4,403)		—		—		168,038
Multifamily		—		—		—		—		—
Agricultural		11,853		1,013		—		—		12,866
Construction and land		9,765		234		—		—		9,999
HELOC		1,253		(270)		—		—		983
Commercial and industrial		655		613		—		—		1,268
Consumer		752		(44)		—		—		708
Total	$	222,884	$	—	$	—	$	—	$	222,884

	Balance		Provision (credit)						Balance
	June 30, 2021		for loan losses		Charge-offs		Recoveries		December 31, 2021
	(Unaudited)
Real estate loans:
Commercial	$	27,506	$	1,516	$	—	$	—	$	29,022
Residential		176,498		(8,460)		—		—		168,038
Multifamily		—		—		—		—		—
Agricultural		8,334		4,532		—		—		12,866
Construction and land		7,723		2,276		—		—		9,999
HELOC		577		406		—		—		983
Commercial and industrial		1,437		(169)		—		—		1,268
Consumer		809		(101)		—		—		708
Total	$	222,884	$	—	$	—	$	—	$	222,884

The following tables present the balance in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of December 31, 2022 and June 30, 2022:

	Allowance for loan losses				Loans
	Ending balance, evaluated for impairment				Ending balance, evaluated for impairment
	Individually		Collectively		Individually		Collectively
	(Unaudited)
December 31, 2022
Real estate loans:
Commercial	$	—	$	19,122	$	—	$	4,865,994
Residential		1,253		172,220		266,935		66,135,476
Multifamily		—		1,844		—		703,814
Agricultural		—		17,575		—		4,472,173
Construction and land		—		7,659		—		5,357,109
HELOC		—		1,018		—		388,918
Commercial and industrial		—		1,176		—		299,250
Consumer		—		1,017		—		721,619
Total	$	1,253	$	221,631	$	266,935	$	82,944,353

	Allowance for loan losses				Loans
	Ending balance, evaluated for impairment				Ending balance, evaluated for impairment
	Individually		Collectively		Individually		Collectively
June 30, 2022
Real estate loans:
Commercial	$	—	$	20,643	$	—	$	5,136,407
Residential		2,734		175,096		359,263		65,278,891
Multifamily		—		1,926		—		718,911
Agricultural		—		13,868		—		3,450,672
Construction and land		—		5477		—		6,006,613
HELOC		—		1,306		—		264,421
Commercial and industrial		—		709		—		339,094
Consumer		—		1,125		—		713,323
Total	$	2,734	$	220,150	$	359,263	$	81,908,332

Schedule of credit risk profile of Bank's loan portfolio based on internal rating category and payment activity

Information regarding the credit quality indicators most closely monitored for other than residential real estate loans by class as of December 31, 2022 and June 30, 2022 follows:

					Special
	Pass		Monitor		Mention		Substandard		Doubtful		Total
December 31, 2022 (Unaudited)
Real estate loans:
Commercial	$	4,708,949	$	157,045	$	—	$	—	$	—	$	4,865,994
Multifamily		703,814		—		—		—		—		703,814
Agricultural		4,242,232		229,941		—		—		—		4,472,173
Construction and land		32,304		5,285,586		—		39,219		—		5,357,109
Commercial and industrial		299,250		—		—		—		—		299,250
Consumer		721,619		—		—		—		—		721,619
Total loans	$	10,708,168	$	5,672,572	$	—	$	39,219	$	—	$	16,419,959
June 30, 2022
Real estate loans:
Commercial	$	4,963,148	$	173,259	$	—	$	—	$	—	$	5,136,407
Multifamily		718,911		—		—		—		—		718,911
Agricultural		3,212,171		238,501		—		—		—		3,450,672
Construction and land		79,160		5,887,572		—		39,881		—		6,006,613
Commercial and industrial		304,607		34,487		—		—		—		339,094
Consumer		713,323		—		—		—		—		713,323
Total loans	$	9,991,320	$	6,333,819	$	—	$	39,881	$	—	$	16,365,020

The following tables present the credit risk profile of the Company’s residential real estate loan portfolio based on internal rating category and payment activity as of December 31, 2022 and June 30, 2022:

	Performing		Nonperforming		Total
December 31, 2022	(Unaudited)
Real estate loans:
Residential	$	66,175,503	$	226,908	$	66,402,411
HELOC		388,918		—		388,918
Total	$	66,564,421	$	226,908	$	66,791,329

	Performing		Nonperforming		Total
June 30, 2022
Real estate loans:
Residential	$	65,412,572	$	225,582	$	65,638,154
HELOC		264,421		—		264,421
Total	$	65,676,993	$	225,582	$	65,902,575

Schedule of Bank's loan portfolio aging analysis of recorded investment in loans

	December 31, 2022
					Greater Than								Total Loans >
	30-59 Days		60-89 Days		90 Days		Total				Total Loans		90 Days &
	Past Due		Past Due		Past Due		Past Due		Current		Receivable		Accruing
	(Unaudited)
Real estate loans:
Commercial	$	—	$	—	$	—	$	—	$	4,865,994	$	4,865,994	$	—
Residential		885,334		283,326		136,395		1,305,055		65,097,356		66,402,411		40,027
Multifamily		—		—		—		—		703,814		703,814		—
Agricultural		—		—		—		—		4,472,173		4,472,173		—
Construction and land		—		—		—		—		5,357,109		5,357,109		—
HELOC		—		—		—		—		388,918		388,918		—
Commercial and industrial		—		—		—		—		299,250		299,250		—
Consumer		—		—		—		—		721,619		721,619		—
Total	$	885,334	$	283,326	$	136,395	$	1,305,055	$	81,906,233	$	83,211,288	$	40,027

	June 30, 2022
					Greater Than								Total Loans >
	30-59 Days		60-89 Days		90 Days		Total				Total Loans		90 Days &
	Past Due		Past Due		Past Due		Past Due		Current		Receivable		Accruing
Real estate loans:
Commercial	$	—	$	—	$	—	$	—	$	5,136,407	$	5,136,407	$	—
Residential		—		89,856		217,019		306,875		65,331,279		65,638,154		133,681
Multifamily		—		—		—		—		718,911		718,911		—
Agricultural		—		—		—		—		3,450,672		3,450,672		—
Construction and land		—		—		—		—		6,006,613		6,006,613		—
HELOC		—		—		—		—		264,421		264,421		—
Commercial and industrial		—		—		—		—		339,094		339,094		—
Consumer		—		—		—		—		713,323		713,323		—
Total	$	—	$	89,856	$	217,019	$	306,875	$	81,960,720	$	82,267,595	$	133,681

Schedule of information on impaired loans

	As of  December 31, 2022
			Unpaid
	Recorded		Principal		Specific
	Balance		Balance		Allowance
	(Unaudited)
Loans without a specific valuation allowance:
Real estate
Residential	$	205,357	$	205,357	$	—
Loans with a specific valuation allowance:
Real estate
Residential		61,578		61,578		1,253
Totals	$	266,935	$	266,935	$	1,253

	As of  June 30, 2022
			Unpaid
	Recorded		Principal		Specific
	Balance		Balance		Allowance
Loans without a specific valuation allowance:
Real estate
Residential	$	296,204	$	296,204	$	—
Loans with a specific valuation allowance:
Real estate
Residential		63,059		63,059		2,734
Totals	$	359,263	$	359,263	$	2,734

	Three Months Ended December 31,								Six Months Ended December 31,
	2022				2021				2022				2021
	Average				Average				Average				Average
	Balance of		Interest		Balance of		Interest		Balance of		Interest		Balance of		Interest
	Impaired		Income		Impaired		Income		Impaired		Income		Impaired		Income
	Loans		Recognized		Loans		Recognized		Loans		Recognized		Loans		Recognized
	(Unaudited)								(Unaudited)
Loans without a specific valuation allowance:
Real estate
Residential	$	205,890	$	1,637	$	98,800	$	2,040	$	206,352	$	3,245	$	99,723	$	2,482
Loans with a specific valuation allowance:
Real estate
Residential		62,039		1,375		64,648		1,246		62,373		2,094		64,930		2,189
Totals	$	267,929	$	3,012	$	163,448	$	3,286	$	268,725		5,339	$	164,653		4,671

Schedule of nonaccrual loans

	December 31,		June 30,
	2022		2022
		(Unaudited)
Residential real estate loans	$	226,908	$	225,582