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AVAILABLE-FOR-SALE SECURITIES (Tables) | 9 Months Ended
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Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost, Carrying Amount and Fair Value of Available-for-sale Securities | The amortized cost and fair value of available-for-sale securities were:
| March 31, 2024
(Dollars in thousands) | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Mortgage-backed securities (MBS): |  |  |  |  |  |  |
Agency 1 | $ | 30,121 |  |  | $ | 122 |  |  | $ | (2,762) |  |  | $ | 27,481 |
Non-agency 2 | 177,236 |  |  | 950 |  |  | (1,507) |  |  | 176,679 |
Total mortgage-backed securities | 207,357 |  |  | 1,072 |  |  | (4,269) |  |  | 204,160 |
Municipal | 3,754 |  |  | — |  |  | (332) |  |  | 3,422 |
Total available-for-sale securities | $ | 211,111 |  |  | $ | 1,072 |  |  | $ | (4,601) |  |  | $ | 207,582 |
| June 30, 2023
(Dollars in thousands) | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Mortgage-backed securities (MBS): |  |  |  |  |  |  |
Agency 1 | $ | 27,024 |  |  | $ | — |  |  | $ | (3,077) |  |  | $ | 23,947 |
Non-agency 2 | 210,271 |  |  | 711 |  |  | (5,977) |  |  | 205,005 |
Total mortgage-backed securities | 237,295 |  |  | 711 |  |  | (9,054) |  |  | 228,952 |
Municipal | 3,656 |  |  | — |  |  | (258) |  |  | 3,398 |
Total available-for-sale securities | $ | 240,951 |  |  | $ | 711 |  |  | $ | (9,312) |  |  | $ | 232,350 |
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. The following table sets forth the expected maturity distribution of our mortgage-backed securities, which is based on assumed prepayment rates, and the maturity distribution of our municipal securities, which is based on the contractual maturity:
| As of March 31, 2024
(Dollars in thousands) | Total Amount |  | Due Within One Year |  | Due after One but within Five Years |  | Due after Five but within Ten Years |  | Due After Ten Years
MBS: |  |  |  |  |  |  |  |  |
Agency | $ | 30,121 |  |  | $ | 7,085 |  |  | $ | 13,840 |  |  | $ | 6,950 |  |  | $ | 2,246 |
Non-Agency | $ | 177,236 |  |  | $ | 153,214 |  |  | $ | 21,652 |  |  | $ | 1,322 |  |  | $ | 1,048 |
Total MBS | $ | 207,357 |  |  | $ | 160,299 |  |  | $ | 35,492 |  |  | $ | 8,272 |  |  | $ | 3,294 |
Municipal | $ | 3,754 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,754 |
Available-for-sale—Amortized cost | $ | 211,111 |  |  | $ | 160,299 |  |  | $ | 35,492 |  |  | $ | 8,272 |  |  | $ | 7,048 |
Available-for-sale—Fair value | $ | 207,582 |  |  | $ | 158,860 |  |  | $ | 34,292 |  |  | $ | 7,794 |  |  | $ | 6,636 |
Schedule of Securities in a Continuous Unrealized Loss Position | Securities in an unrealized loss position based on the length of time the individual securities have been in a continuous unrealized loss position were:
| March 31, 2024
| 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | $ | 2,650 |  |  | $ | (26) |  |  | $ | 19,725 |  |  | $ | (2,736) |  |  | $ | 22,375 |  |  | $ | (2,762) |  |  |  |  |  |  |  |  |  |  |  |  |
Non-agency | 10,407 |  |  | (27) |  |  | 133,506 |  |  | (1,480) |  |  | 143,913 |  |  | (1,507) |  |  |  |  |  |  |  |  |  |  |  |  |
Total MBS | 13,057 |  |  | (53) |  |  | 153,231 |  |  | (4,216) |  |  | 166,288 |  |  | (4,269) |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal | — |  |  | — |  |  | 3,422 |  |  | (332) |  |  | 3,422 |  |  | (332) |  |  |  |  |  |  |  |  |  |  |  |  |
Total available-for-sale securities | $ | 13,057 |  |  | $ | (53) |  |  | $ | 156,653 |  |  | $ | (4,548) |  |  | $ | 169,710 |  |  | $ | (4,601) |  |  |  |  |  |  |  |  |  |  |  |  |
| June 30, 2023
| 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency | $ | 3,182 |  |  | $ | (16) |  |  | $ | 20,642 |  |  | $ | (3,061) |  |  | $ | 23,824 |  |  | $ | (3,077) |  |  |  |  |  |  |  |  |  |  |  |  |
Non-agency | 107,982 |  |  | (1,808) |  |  | 95,385 |  |  | (4,169) |  |  | 203,367 |  |  | (5,977) |  |  |  |  |  |  |  |  |  |  |  |  |
Total MBS | 111,164 |  |  | (1,824) |  |  | 116,027 |  |  | (7,230) |  |  | 227,191 |  |  | (9,054) |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal | — |  |  | — |  |  | 3,398 |  |  | (258) |  |  | 3,398 |  |  | (258) |  |  |  |  |  |  |  |  |  |  |  |  |
Total available-for-sale securities | $ | 111,164 |  |  | $ | (1,824) |  |  | $ | 119,425 |  |  | $ | (7,488) |  |  | $ | 230,589 |  |  | $ | (9,312) |  |  |  |  |  |  |  |  |  |  |  |  |
Schedule of Components of Other Comprehensive Income (Loss) | The components of the Company’s accumulated other comprehensive income (loss) are as follows:
(Dollars in thousands) | March 31, 2024 |  | June 30, 2023
Available-for-sale securities—net unrealized gains (losses) | $ | (3,529) |  |  | $ | (8,601) |
Available-for-sale securities—non-credit related | (845) |  |  | (845) |
Subtotal | (4,374) |  |  | (9,446) |
Tax benefit (expense) | 1,310 |  |  | 2,836 |
Net unrealized gain (loss) on investment securities in accumulated other comprehensive income (loss) | $ | (3,064) |  |  | $ | (6,610) |

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