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BANK-OWNED LIFE INSURANCE (Tables) | 12 Months Ended
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Jun. 30, 2023
Investments, All Other Investments [Abstract] |
Schedule of Bank-Owned Life Insurance Activity | The following table summarizes the activity in the Company’s bank-owned life insurance (“BOLI”) as of the dates indicated:
(Dollars in thousands) | BOLI values
Balance as of June 30, 2020 | $ | 6,380 |
Additions | 50,000 |
Change in Contract Value | 175 |
Balance as of June 30, 2021 | 56,555 |
Additions | 100,000 |
Change in Contract Value | 4,220 |
Balance as of June 30, 2022 | 160,775 |
Death Benefits | (1,805) |
Change in Contract Value | 4,444 |
Balance as of June 30, 2023 | $ | 163,414 |

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