XML 25 R14.htm IDEA: XBRL DOCUMENT v3.24.0.1
DERIVATIVES
 6 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVES DERIVATIVES
For additional information on the Company’s derivative instruments, see Note 1—“Organizations and Summary of Significant Accounting Policies,” Note 2—“Acquisitions” and Note 3—“Fair Value” in the 2023 Form 10-K and Note 3—“Fair Value” herein. As of December 31, 2023 and June 30, 2023, there were no derivatives designated in hedge accounting relationships.
The following table presents the fair values and notional amounts of the Company’s derivative instruments. While the notional amounts give an indication of the volume of the Company’s derivatives activity, the notional amounts significantly exceed, in
the Company’s view, the possible losses that could arise from such transactions. For most derivative contracts, the notional amount is not exchanged, rather it is a reference amount used to calculate payments.
Interest Rate Contracts
(Dollars in thousands)
As of 12/31/2023
As of 6/30/2023
Derivative Assets — Fair Value
$96,084 $919 
Derivative Liabilities — Fair Value
92,144 691 
Derivative Assets — Notional
$1,316,516 $231,709 
Derivative Liabilities — Notional
1,319,604 204,522 
The following table presents the gains (losses) related to the Company’s derivative instrument activity recognized in the Consolidated Statements of Income:
Three Months EndedSix Months Ended
December 31, December 31,
(Dollars in thousands)
2023202220232022
Banking and service fees
$50 $119 $390 $119 
Mortgage banking and servicing rights income231 23 508 285