v3.25.4

Derivative Financial Instruments (Tables) | 6 Months Ended
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Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Instruments | The following table summarizes the total fair value, including interest accruals, and outstanding notional amounts of derivative instruments as of December 31, 2025 and June 30, 2025 (in thousands):
| December 31, 2025 |  | June 30, 2025
| Notional Amount |  | Derivative Assets |  | Derivative Liabilities |  | Notional Amount |  | Derivative Assets |  | Derivative Liabilities
Derivatives designated as cash flow hedges
Interest rate contracts | $ | 425,000 |  |  | $ | — |  |  | $ | 389 |  |  | $ | 100,000 |  |  | $ | 86 |  |  | $ | — |
Derivatives not designated as hedges
Interest rate contracts | 600,000 |  |  | 1,222 |  |  | — |  |  | 405,074 |  |  | 2,558 |  |  | 15 |
Risk sharing assets/liabilities | 10,225,492 |  |  | 38,992 |  |  | — |  |  | 8,561,709 |  |  | 43,179 |  |  | 90 |
Total gross derivative assets/liabilities | $ | 11,250,492 |  |  | $ | 40,214 |  |  | $ | 389 |  |  | $ | 9,066,783 |  |  | $ | 45,823 |  |  | $ | 105 |
Schedule of Impact of the Cash Flow Hedges on Accumulated Other Comprehensive Income | The following table summarizes the impact of the cash flow hedges on Accumulated Other Comprehensive Income (“AOCI”) (in thousands):
|  | Three Months Ended December 31, |  | Six Months Ended December 31,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Balance at beginning of period |  | $ | (1,548) |  |  | $ | (85) |  |  | $ | (1,419) |  |  | $ | 1,407 |
Changes in fair value |  | (339) |  |  | (5) |  |  | (315) |  |  | (1,273) |
Amounts reclassified into earnings (1) |  | 34 |  |  | (84) |  |  | (119) |  |  | (308) |
Balance at end of period (2) |  | $ | (1,853) |  |  | $ | (174) |  |  | $ | (1,853) |  |  | $ | (174) |
(1)The amounts reclassified into earnings are presented in the interim condensed consolidated statements of operations and comprehensive income (loss) within funding costs. (2)As of December 31, 2025, we estimated that $0.4 million of net derivative losses included in AOCI are expected to be reclassified into earnings within the next 12 months.
Schedule of Impact of the Derivative Instruments on Consolidated Statements of Operations and Comprehensive Income (Loss) | The following table summarizes the impact of the derivative instruments on income and indicates where within the interim consolidated statements of operations and comprehensive income (loss) such impact is reported (in thousands):
| Location of gains (losses) where the effects of derivatives are recorded |  | Three Months Ended December 31, |  | Six Months Ended December 31,
| 2025 |  | 2024 |  | 2025 |  | 2024
The effects of cash flow hedging
Interest rate contracts | Funding costs |  | $ | (34) |  |  | $ | 84 |  |  | $ | 119 |  |  | $ | 308 |
The effects of derivatives not designated in hedging relationships
Interest rate contracts | Other income, net |  | (379) |  |  | 2,705 |  |  | (1,567) |  |  | (1,248) |
Risk sharing assets/liabilities | Gain on sales of loans |  | 6,552 |  |  | 5,321 |  |  | 13,279 |  |  | 15,883 |

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