Employee Benefits (Tables)

12 Months Ended

Jun. 30, 2020

Employee Benefits

Schedule of changes in options outstanding

	2020			2019			2018
	Weighted			Weighted			Weighted
	Average			Average			Average
	Price		Number	Price		Number	Price		Number
Outstanding at beginning of year	$	26.35	51,000	$	22.18	33,500	$	9.35	44,000
Granted		37.40	19,500		34.35	17,500		37.31	13,500
Exercised		6.38	(10,000)		—	—		7.18	(24,000)
Forfeited		—	—		—	—		—	—
Outstanding at year-end	$	33.22	60,500	$	26.35	51,000	$	22.18	33,500
Options exercisable at year-end	$	26.31	18,900	$	14.73	20,700	$	10.57	16,000

Schedule of values of options granted

	2020			2019			2018
Assumptions:
Expected dividend yield		1.60	%		1.51	%		1.18	%
Expected volatility		22.55	%		20.39	%		20.42	%
Risk-free interest rate		1.55	%		2.67	%		2.54	%
Weighted-average expected life (years)		10.00			10.00			10.00
Weighted-average fair value of options granted during the year	$	8.81		$	8.78		$	10.14

Schedule of stock options

Weighted	Options Outstanding			Options Exercisable
Average		Weighted			Weighted
Remaining		Average			Average
Contractual	Number	Exercise		Number	Exercise
Life	Outstanding	Price		Exercisable	Price
50.2 mo.	10,000	$	17.55	10,000	$	17.55
90.6 mo.	13,500		37.31	5,400		37.31
102.2 mo.	17,500		34.35	3,500		34.35
115.7 mo.	19,500		37.40	—		37.40