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INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Components of Provision for Income Taxes

The provision for income taxes is as follows:

			At June 30,
(Dollars in thousands)			2022						2021						2020
Current:
Federal			$	64,800					$	61,827					$	51,893
State			43,843						37,037						33,852
			108,643						98,864						85,745
Deferred:
Federal			(5,600)						(5,562)						(3,814)
State			(3,800)						(3,266)						(2,737)
			(9,400)						(8,828)						(6,551)
Total			$	99,243					$	90,036					$	79,194

Schedule of Effective Income Tax Rate Reconciliation

The differences between the statutory federal income tax rate and the effective tax rates are summarized as follows:

			At June 30,
			2022						2021						2020
Statutory federal tax rate			21.00		%				21.00		%				21.00		%
Increase (decrease) resulting from:
State taxes—net of federal tax benefit			9.13		%				8.70		%				9.27		%
Cash surrender value			(0.26)		%				(0.01)		%				(0.02)		%
Deferred tax asset write-off			—		%				—		%				0.77		%
Tax credits			(0.44)		%				(0.59)		%				(0.77)		%
Non-taxable income			(0.09)		%				(0.09)		%				(0.10)		%
Excess benefit RSU vesting			(1.31)		%				(0.64)		%				(0.05)		%
Other			1.16		%				1.08		%				0.05		%
Effective tax rate			29.19		%				29.45		%				30.15		%

Schedule of Net Deferred Tax Asset

The components of the net deferred tax asset are as follows:

			At June 30,
(Dollars in thousands)			2022						2021
Deferred tax assets:
Allowance for credit losses			$	59,045					$	51,663
State taxes			949						903
Stock-based compensation expense			5,101						4,891
Unrealized net losses on securities			1,261						—
Accrued compensation			2,533						3,388
Securities impaired			270						266
Non-accrual loan interest income			2,608						4,182
Lease liability			24,626						22,730
Net operating loss carryforward			1,273						1,811
Other liabilities – accruals			3,116						—
Total deferred tax assets			100,782						89,834
Deferred tax liabilities:
FHLB stock dividend			(842)						(830)
Other assets—prepaids			(2,083)						(2,717)
Depreciation and amortization			(8,838)						(9,998)
Operating lease right-of-use asset			(22,757)						(20,771)
Unrealized net gains on securities			—						(1,155)
Total deferred tax liabilities			(34,520)						(35,471)
Net deferred tax asset1			$	66,262					$	54,363

1 Net deferred tax asset is included in the other assets line on the consolidated balance sheet.

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a reconciliation of the beginning and ending amount of unrecognized tax positions for the periods presented:

(Dollars in thousands)			2022						2021						2020
Balance—beginning of period			$	3,369					$	813					$	1,084
Additions—current year tax positions			690						355						115
Additions—prior year tax positions			481						2,205						31
Reductions—prior year tax positions			(233)						(4)						(417)
Total liability for unrecognized tax positions—end of period			$	4,307					$	3,369					$	813

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of the change in unrecognized tax benefits.

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