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v3.22.1

SECURITIES (Tables) | 9 Months Ended
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Mar. 31, 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 trading and available-for-sale securities at March 31, 2022 and June 30, 2021 were:
| March 31, 2022
| Trading |  | Available-for-sale |  |
(Dollars in thousands) | Fair Value |  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  |  |  |  |  |  |  |
Mortgage-backed securities (MBS): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agencies 1 | $ | — |  |  | $ | 28,853 |  |  | $ | 43 |  |  | $ | (1,693) |  |  | $ | 27,203 |  |  |  |  |  |  |  |  |
Non-agency 2 | — |  |  | 151,517 |  |  | 1,423 |  |  | (1,461) |  |  | 151,479 |  |  |  |  |  |  |  |  |
Total mortgage-backed securities | — |  |  | 180,370 |  |  | 1,466 |  |  | (3,154) |  |  | 178,682 |  |  |  |  |  |  |  |  |
Non-MBS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal | 366 |  |  | 3,498 |  |  | — |  |  | (187) |  |  | 3,311 |  |  |  |  |  |  |  |  |
Asset-backed securities and structured notes | — |  |  | 46,993 |  |  | 524 |  |  | — |  |  | 47,517 |  |  |  |  |  |  |  |  |
Total Non-MBS | 366 |  |  | 50,491 |  |  | 524 |  |  | (187) |  |  | 50,828 |  |  |  |  |  |  |  |  |
Total debt securities | $ | 366 |  |  | $ | 230,861 |  |  | $ | 1,990 |  |  | $ | (3,341) |  |  | $ | 229,510 |  |  |  |  |  |  |  |  |
| June 30, 2021
| Trading |  | Available-for-sale |  |
(Dollars in thousands) | Fair Value |  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value |  |  |  |  |  |  |  |
Mortgage-backed securities (MBS): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. 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 Alt-A or pay-option ARM mortgages.
Schedule of Available-for-sale Securities in 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:
| March 31, 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agencies | $ | 19,641 |  |  | $ | (1,192) |  |  | $ | 5,167 |  |  | $ | (501) |  |  | $ | 24,808 |  |  | $ | (1,693) |  |  |  |  |  |  |  |  |  |  |  |  |
Non-agency | 43,916 |  |  | (1,085) |  |  | 5,040 |  |  | (376) |  |  | 48,956 |  |  | (1,461) |  |  |  |  |  |  |  |  |  |  |  |  |
Total MBS | 63,557 |  |  | (2,277) |  |  | 10,207 |  |  | (877) |  |  | 73,764 |  |  | (3,154) |  |  |  |  |  |  |  |  |  |  |  |  |
Non-MBS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal debt | 3,311 |  |  | (187) |  |  | — |  |  | — |  |  | 3,311 |  |  | (187) |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities and structured notes | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Total Non-MBS | 3,311 |  |  | (187) |  |  | — |  |  | — |  |  | 3,311 |  |  | (187) |  |  |  |  |  |  |  |  |  |  |  |  |
Total debt securities | $ | 66,868 |  |  | $ | (2,464) |  |  | $ | 10,207 |  |  | $ | (877) |  |  | $ | 77,075 |  |  | $ | (3,341) |  |  |  |  |  |  |  |  |  |  |  |  |
| 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. agencies | $ | 10,001 |  |  | $ | (146) |  |  | $ | — |  |  | $ | — |  |  | $ | 10,001 |  |  | $ | (146) |  |  |  |  |  |  |  |  |  |  |  |  |
Non-agency | — |  |  | — |  |  | 6,018 |  |  | (421) |  |  | 6,018 |  |  | (421) |  |  |  |  |  |  |  |  |  |  |  |  |
Total MBS | 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 Investments on Available-for-sale Securities | The Company had recorded unrealized gains and unrealized losses in accumulated other comprehensive loss as follows:
(Dollars in thousands) | March 31, 2022 |  | June 30, 2021
Available-for-sale debt securities—net unrealized gains (losses) | $ | (1,351) |  |  | $ | 4,507 |
Available-for-sale debt securities—non-credit related losses | (845) |  |  | (845) |
Subtotal | (2,196) |  |  | 3,662 |
Tax benefit (expense) | 570 |  |  | (1,155) |
Net unrealized gain (loss) on investment securities in accumulated other comprehensive income (loss) | $ | (1,626) |  |  | $ | 2,507 |

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 + Details
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