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SECURITIES (Tables)
 3 Months Ended
Sep. 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 trading and available-for-sale securities at September 30, 2022 and June 30, 2022 were:
September 30, 2022
TradingAvailable-for-sale
(Dollars in thousands)Fair
Value		Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Mortgage-backed securities (MBS):
U.S. agencies1
$— $27,187 $1 $(3,425)$23,763 
Non-agency2
— 187,287 1,300 (4,575)184,012 
Total mortgage-backed securities— 214,474 1,301 (8,000)207,775 
Non-MBS:
Municipal75 3,560 — (565)2,995 
Asset-backed securities and structured notes— 47,000 — (136)46,864 
Total Non-MBS75 50,560 — (701)49,859 
Total debt securities$75 $265,034 $1,301 $(8,701)$257,634 
June 30, 2022
TradingAvailable-for-sale
(Dollars in thousands)Fair
Value		Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Mortgage-backed securities (MBS):
U.S. agencies1
$— $27,722 $9 $(2,406)$25,325 
Non-agency2
— 187,616 1,832 (2,634)186,814 
Total mortgage-backed securities— 215,338 1,841 (5,040)212,139 
Non-MBS:
Municipal1,758 3,529 — (281)3,248 
Asset-backed securities and structured notes— 47,000 131 — 47,131 
Total Non-MBS1,758 50,529 131 (281)50,379 
Total debt securities$1,758 $265,867 $1,972 $(5,321)$262,518 
1Includes securities guaranteed by Ginnie Mae, a U.S. government agency, and the government sponsored enterprises Fannie Mae and Freddie Mac.
2Private 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.
The following table sets forth the expected maturity distribution of our mortgage-backed securities and the contractual maturity distribution of our Non-RMBS securities and the weighted-average yield for each range of maturities:
At September 30, 2022
Total AmountDue Within One YearDue After One but within Five YearsDue After Five but within Ten YearsDue After Ten Years
(Dollars in thousands)Amount
Yield1
Amount
Yield1
Amount
Yield1
Amount
Yield1
Amount
Yield1
Available-for-sale
Mortgage-backed securities:
Agency2
$27,187 1.79 %$5,018 1.83 %$13,175 1.79 %$7,063 1.76 %$1,931 1.86 %
Non-Agency3
187,287 5.41 %1,285 16.89 %183,937 5.30 %1,726 8.90 %339 4.63 %
Total Mortgage-Backed Securities$214,474 4.95 %$6,303 4.90 %$197,112 5.07 %$8,789 3.17 %$2,270 2.28 %
Non-RMBS
Municipal3,560 3.57 %— — %— — %— — %3,560 3.57 %
Asset-backed securities and structured notes47,000 8.43 %35,155 8.43 %11,845 8.43 %— — %— — %
Total Non-RMBS$50,560 8.09 %$35,155 8.43 %$11,845 8.43 %$— — %$3,560 3.57 %
Available-for-sale—Amortized Cost$265,034 5.55 %$41,458 7.89 %$208,957 5.26 %$8,789 3.17 %$5,830 3.07 %
Available-for-sale—Fair Value$257,634 5.57 %$41,010 7.89 %$203,814 5.26 %$7,807 3.17 %$5,003 3.07 %
Total available-for-sale securities$257,634 5.57 %$41,010 7.89 %$203,814 5.26 %$7,807 3.17 %$5,003 3.07 %
1 Weighted-average yield is based on amortized cost of the securities. Residential mortgage-backed security yields and maturities include impact of expected prepayments and other timing factors such as interest rate forward curve.
2 Includes securities guaranteed by Ginnie Mae, a U.S. government agency, and the government sponsored enterprises Fannie Mae and Freddie Mac.
3 Private sponsors of securities collateralized primarily by pools of 1-4 family residential first mo prime, Alt-A or pay-option ARM mortgages.
Schedule of Securities in a Continuous Unrealized Loss Position
Securities with unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position were:
September 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:
U.S. agencies$15,070 $(1,882)$8,493 $(1,543)$23,563 $(3,425)
Non-agency127,685 (4,095)4,516 (480)132,201 (4,575)
Total MBS142,755 (5,977)13,009 (2,023)155,764 (8,000)
Non-MBS:
Municipal debt2,995 (565)— — 2,995 (565)
Asset-backed securities and structured notes46,864 (136)— — 46,864 (136)
Total Non-MBS49,859 (701)— — 49,859 (701)
Total debt securities$192,614 $(6,678)$13,009 $(2,023)$205,623 $(8,701)
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:
U.S. agencies$16,446 $(1,338)$8,097 $(1,068)$24,543 $(2,406)
Non-agency92,796 (2,204)4,751 (430)97,547 (2,634)
Total MBS109,242 (3,542)12,848 (1,498)122,090 (5,040)
Non-MBS:
Municipal debt3,248 (281)— — 3,248 (281)
Asset-backed securities and structured notes— — — — — — 
Total Non-MBS3,248 (281)— — 3,248 (281)
Total debt securities$112,490 $(3,823)$12,848 $(1,498)$125,338 $(5,321)
Components of Other Comprehensive Income (Loss)
The components of the Company’s accumulated other comprehensive income (loss) are:
(Dollars in thousands)September 30,
2022		June 30,
2022
Available-for-sale debt securities—net unrealized gains (losses)$(7,400)$(3,349)
Available-for-sale debt securities—non-credit related losses(845)(845)
Subtotal(8,245)(4,194)
Tax benefit (expense)2,475 1,261 
Net unrealized gain (loss) on investment securities in accumulated other comprehensive income (loss)$(5,770)$(2,933)