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DERIVATIVES (Tables)
 9 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
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.
(Dollars in thousands)As of March 31, 2024As of June 30, 2023
Other Assets — Interest Rate Derivative Assets1 — Fair Value
$106,392 $919 
Accounts Payable and Other Liabilities — Interest Rate Derivative Liabilities1 — Fair Value
102,635 691 
Interest Rate Derivative Assets — Notional
$1,205,097 $231,709 
Interest Rate Derivative Liabilities — Notional
1,184,103 204,522 
1 Derivative assets and liabilities are not subject to any counterparty netting and are presented gross in the condensed consolidated balance sheets. As of March 31, 2024, the Company posted cash collateral of $26.3 million and received cash collateral of $17.5 million, reflected in Cash, cash equivalents and restricted cash and Deposits, respectively, on its Condensed consolidated balance sheets.
Schedule of Derivative Instruments, Gain (Loss)
The following table presents the gains (losses) related to the Company’s derivative instrument activity recognized in the Condensed Consolidated Statements of Income:
Three Months EndedNine Months Ended
March 31, March 31,
(Dollars in thousands)
2024202320242023
Banking and service fees
$27 $574 $417 $693 
Mortgage banking and servicing rights income98 125 606 410