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ADVANCES FROM THE FEDERAL HOME LOAN BANK

12 Months Ended

Jun. 30, 2022

Advance from Federal Home Loan Bank [Abstract]

ADVANCES FROM THE FEDERAL HOME LOAN BANK

ADVANCES FROM THE FEDERAL HOME LOAN BANK

At June 30, 2022 and 2021, the Company’s fixed-rate FHLB advances had interest rates that ranged from 1.68% to 2.82% with a weighted average of 2.26% and ranged from 0.15% to 2.86% with a weighted average of 1.18%, respectively.

Fixed-rate advances from FHLB are scheduled to mature as follows:

			At June 30,
			2022												2021
(Dollars in thousands)			Amount						Weighted- Average Rate						Amount						Weighted- Average Rate
Within one year1			$	27,500					2.08		%				$	236,000					0.64		%
After one but within two years			—						—		%				27,500						2.08		%
After two but within three years			30,000						2.82		%				—						—		%
After three but within four years			—						—		%				30,000						2.82		%
After four but within five years			—						—		%				—						—		%
After five years			60,000						2.07		%				60,000						2.07		%
Total			$	117,500					2.26		%				$	353,500					1.18		%

1. Within one year category includes of term advances of $0 and $186,000 at June 30, 2022 and 2021, respectively.

The Company’s advances from the FHLB were collateralized by certain real estate loans with an aggregate unpaid balance of $3,823.1 million and $4,286.1 million at June 30, 2022 and 2021, respectively, by the Company’s investment in capital stock of the FHLB of San Francisco and by its investment in mortgage-backed securities. Generally, each advance carries a prepayment penalty and is payable in full at its maturity date.

The maximum amounts advanced at any month-end during the period from the FHLB were $1,360.5 million, $353.5 million, and $1,462.5 million during the years ended June 30, 2022, 2021, and 2020, respectively. At June 30, 2022, the Company had $2,014.2 million available immediately and $3,893.3 million available with additional collateral for advances from the FHLB for terms up to ten years.

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- Definition

The entire disclosure for borrowing from the Federal Home Loan Bank, including: (i) general description; (ii) title and nature of obligation; (iii) interest rate; (iv) payment terms; (v) maturity dates by year; (vi) collateral requirements; (vii) restrictive covenants; (viii) priority; (ix) conversion or redemption features; (x) carrying value of assets pledged as collateral; (xi) combined aggregate maturities for next five years; (xii) unused or available balances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.13(a))
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
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-URI https://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
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-URI https://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 45
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6479118&loc=d3e64650-112822

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