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v3.22.2.2

SECURITIES (Tables) | 12 Months Ended
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Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost, Carrying Amount and Fair Value of Available-for-sale Securities | The amortized cost, carrying amount and fair value for the securities available-for-sale for the following periods were:
| June 30, 2022
| Trading |  | Available-for-sale |  |
(Dollars in thousands) | Fair Value |  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  |  |  |  |  |  |  |
Mortgage-backed securities (MBS): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agencies 1 | $ | — |  |  | $ | 27,722 |  |  | $ | 9 |  |  | $ | (2,406) |  |  | $ | 25,325 |  |  |  |  |  |  |  |  |
Non-agency 2 | — |  |  | 187,616 |  |  | 1,832 |  |  | (2,634) |  |  | 186,814 |  |  |  |  |  |  |  |  |
Total mortgage-backed securities | — |  |  | 215,338 |  |  | 1,841 |  |  | (5,040) |  |  | 212,139 |  |  |  |  |  |  |  |  |
Non-MBS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal | 1,758 |  |  | 3,529 |  |  | — |  |  | (281) |  |  | 3,248 |  |  |  |  |  |  |  |  |
Asset-backed securities and structured notes | — |  |  | 47,000 |  |  | 131 |  |  | — |  |  | 47,131 |  |  |  |  |  |  |  |  |
Total Non-MBS | 1,758 |  |  | 50,529 |  |  | 131 |  |  | (281) |  |  | 50,379 |  |  |  |  |  |  |  |  |
Total debt securities | $ | 1,758 |  |  | $ | 265,867 |  |  | $ | 1,972 |  |  | $ | (5,321) |  |  | $ | 262,518 |  |  |  |  |  |  |  |  |
| June 30, 2021
| Trading |  | Available-for-sale |  |
(Dollars in thousands) | Fair Value |  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  |  |  |  |  |  |  |
Mortgage-backed securities (MBS): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agencies 1 | $ | — |  |  | $ | 23,639 |  |  | $ | 420 |  |  | $ | (146) |  |  | $ | 23,913 |  |  |  |  |  |  |  |  |
Non-agency 2 | — |  |  | 65,174 |  |  | 2,862 |  |  | (421) |  |  | 67,615 |  |  |  |  |  |  |  |  |
Total mortgage-backed securities | — |  |  | 88,813 |  |  | 3,282 |  |  | (567) |  |  | 91,528 |  |  |  |  |  |  |  |  |
Non-MBS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal | 1,983 |  |  | 3,466 |  |  | 99 |  |  | — |  |  | 3,565 |  |  |  |  |  |  |  |  |
Asset-backed securities and structured notes | — |  |  | 90,549 |  |  | 1,693 |  |  | — |  |  | 92,242 |  |  |  |  |  |  |  |  |
Total Non-MBS | 1,983 |  |  | 94,015 |  |  | 1,792 |  |  | — |  |  | 95,807 |  |  |  |  |  |  |  |  |
Total debt securities | $ | 1,983 |  |  | $ | 182,828 |  |  | $ | 5,074 |  |  | $ | (567) |  |  | $ | 187,335 |  |  |  |  |  |  |  |  |
1 Includes securities guaranteed by Ginnie Mae, a U.S. government agency, and the government sponsored enterprises Fannie Mae and Freddie Mac. 2 Private sponsors of securities collateralized primarily by first-lien mortgage loans on commercial properties or by pools of 1-4 family residential first mortgages. Primarily super senior securities secured by prime, Alt-A or pay-option ARM mortgages.
Schedule of Securities in a Continuous Unrealized Loss Position | The securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position were as follows:
| June 30, 2022
| Available-for-sale securities in loss position for |  |
| Less Than 12 Months |  | More Than 12 Months |  | Total |  |  |  |  |  |
(Dollars in thousands) | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  |  |  |  |  |  |  |  |  |  |  |
MBS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agencies | $ | 16,446 |  |  | $ | (1,338) |  |  | $ | 8,097 |  |  | $ | (1,068) |  |  | $ | 24,543 |  |  | $ | (2,406) |  |  |  |  |  |  |  |  |  |  |  |  |
Non-agency | 92,796 |  |  | (2,204) |  |  | 4,751 |  |  | (430) |  |  | 97,547 |  |  | (2,634) |  |  |  |  |  |  |  |  |  |  |  |  |
Total MBS securities | 109,242 |  |  | (3,542) |  |  | 12,848 |  |  | (1,498) |  |  | 122,090 |  |  | (5,040) |  |  |  |  |  |  |  |  |  |  |  |  |
Non-MBS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal debt | 3,248 |  |  | (281) |  |  | — |  |  | — |  |  | 3,248 |  |  | (281) |  |  |  |  |  |  |  |  |  |  |  |  |
Total Non-MBS | 3,248 |  |  | (281) |  |  | — |  |  | — |  |  | 3,248 |  |  | (281) |  |  |  |  |  |  |  |  |  |  |  |  |
Total debt securities | $ | 112,490 |  |  | $ | (3,823) |  |  | $ | 12,848 |  |  | $ | (1,498) |  |  | $ | 125,338 |  |  | $ | (5,321) |  |  |  |  |  |  |  |  |  |  |  |  |
| June 30, 2021
| Available-for-sale securities in loss position for |  |
| Less Than 12 Months |  | More Than 12 Months |  | Total |  |  |  |  |  |
(Dollars in thousands) | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  |  |  |  |  |  |  |  |  |  |  |
MBS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agencies | $ | 10,001 |  |  | $ | (146) |  |  | $ | — |  |  | $ | — |  |  | $ | 10,001 |  |  | $ | (146) |  |  |  |  |  |  |  |  |  |  |  |  |
Non-agency | — |  |  | — |  |  | 6,018 |  |  | (421) |  |  | 6,018 |  |  | (421) |  |  |  |  |  |  |  |  |  |  |  |  |
Total MBS securities | 10,001 |  |  | (146) |  |  | 6,018 |  |  | (421) |  |  | 16,019 |  |  | (567) |  |  |  |  |  |  |  |  |  |  |  |  |
Non-MBS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal debt | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities and structured notes | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Total Non-MBS | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Total debt securities | $ | 10,001 |  |  | $ | (146) |  |  | $ | 6,018 |  |  | $ | (421) |  |  | $ | 16,019 |  |  | $ | (567) |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Unrealized Gain (Loss) on Securities in Accumulated Other Comprehensive Loss | The components of the Company’s accumulated other comprehensive income (loss) are as follows:
| At June 30,
(Dollars in thousands) | 2022 |  | 2021
Available-for-sale debt securities—net unrealized gains (losses) | $ | (3,349) |  |  | $ | 4,507 |
Available-for-sale debt securities—non-credit related | (845) |  |  | (845) |
Subtotal | (4,194) |  |  | 3,662 |
Tax (provision) benefit | 1,261 |  |  | (1,155) |
Net unrealized gain (loss) on investment securities in accumulated other comprehensive loss | $ | (2,933) |  |  | $ | 2,507 |

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