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FAIR VALUE (Tables) | 12 Months Ended
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Jun. 30, 2025
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table sets forth the Company’s financial assets and liabilities measured at fair value on a recurring basis. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement:
|  | June 30, 2025
(Dollars in thousands) |  |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
ASSETS: |  |  |  |  |  |  |
Trading securities |  |  | $ | 649 |  |  | $ | — |  |  | $ | 649 |
Available-for-sale securities: |  |  |  |  |  |  |
Agency MBS 1 |  |  | 46,757 |  |  | — |  |  | 46,757 |
Non-Agency MBS 2 |  |  | — |  |  | 15,569 |  |  | 15,569 |
Municipal |  |  | 3,682 |  |  | — |  |  | 3,682 |
Total—Available-for-sale securities: |  |  | $ | 50,439 |  |  | $ | 15,569 |  |  | $ | 66,008 |
Loans held for sale |  |  | $ | 10,012 |  |  | $ | — |  |  | $ | 10,012 |
Servicing rights |  |  | $ | — |  |  | $ | 27,218 |  |  | $ | 27,218 |
Other assets—Derivative instruments 3 |  |  | $ | 17,734 |  |  | $ | — |  |  | $ | 17,734 |
LIABILITIES: |  |  |  |  |  |  |
Accounts payable and other liabilities—Derivative instruments |  |  | $ | 68,498 |  |  | $ | — |  |  | $ | 68,498 |
|  | June 30, 2024
(Dollars in thousands) |  |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
ASSETS: |  |  |  |  |  |  |
Trading securities |  |  | $ | 353 |  |  | $ | — |  |  | $ | 353 |
Available-for-sale securities: |  |  |  |  |  |  |
Agency MBS 1 |  |  | 27,259 |  |  | — |  |  | 27,259 |
Non-Agency MBS 2 |  |  | — |  |  | 110,928 |  |  | 110,928 |
Municipal |  |  | 3,424 |  |  | — |  |  | 3,424 |
Total—Available-for-sale securities: |  |  | $ | 30,683 |  |  | $ | 110,928 |  |  | $ | 141,611 |
Loans held for sale |  |  | $ | 16,482 |  |  | $ | — |  |  | $ | 16,482 |
Servicing rights |  |  | $ | — |  |  | $ | 28,924 |  |  | $ | 28,924 |
Other assets—Derivative instruments 3 |  |  | $ | 106,796 |  |  | $ | — |  |  | $ | 106,796 |
LIABILITIES: |  |  |  |  |  |  |
Accounts payable and other liabilities—Derivative instruments |  |  | $ | 102,949 |  |  | $ | — |  |  | $ | 102,949 |
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 adjustable rate mortgages (“ARMs”). 3 Gross derivatives assets as of June 30, 2025 are presented net of $55.4 million of variation margin on centrally-cleared derivatives. As of June 30, 2024, gross derivative assets are presented gross of $85.2 million of variation margin on centrally-cleared derivatives as a result of an $87.9 million receivable from the FDIC related to the novation of certain interest rate swaps.
Schedule of Additional Information About Assets Measured at Fair Value on a Recurring Basis and for which the Company has Utilized Level 3 Inputs to Determine Fair Value | The following tables present additional information about assets measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value:
|  |  | Fiscal Year Ended June 30, 2025
(Dollars in thousands) |  |  | Available-for-Sale Securities: Non-Agency MBS |  | Servicing Rights 1 |  |  |  | Total
Opening Balance |  |  | $ | 110,928 |  |  | $ | 28,924 |  |  |  |  | $ | 139,852 |
Transfers into Level 3 |  |  | — |  |  | — |  |  |  |  | — |
Transfers out of Level 3 |  |  | — |  |  | — |  |  |  |  | — |
Total gains or losses for the period: |  |  |  |  |  |  |  |  |
Included in earnings—Mortgage banking and servicing rights income |  |  | — |  |  | (2,706) |  |  |  |  | (2,706) |
Included in other comprehensive income |  |  | 905 |  |  | — |  |  |  |  | 905 |
Purchases, retentions, issues, sales and settlements: |  |  |  |  |  |  |  |  |
Purchases/Retentions |  |  | — |  |  | 1,000 |  |  |  |  | 1,000 |
Issues |  |  | — |  |  | — |  |  |  |  | — |
Sales |  |  | — |  |  | — |  |  |  |  | — |
Settlements |  |  | (96,264) |  |  | — |  |  |  |  | (96,264) |
Closing balance |  |  | $ | 15,569 |  |  | $ | 27,218 |  |  |  |  | $ | 42,787 |
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period |  |  | $ | — |  |  | $ | (2,706) |  |  |  |  | $ | (2,706) |
1 Earnings from servicing rights were attributable to: time and payoffs, representing a decrease in servicing rights value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period of $1.4 million for the fiscal year ended June 30, 2025 and a decrease in servicing rights value resulting from market-driven changes in interest rates of $1.3 million for the fiscal year ended June 30, 2025. Additions to servicing rights were related to purchases and servicing rights retained upon sale of loans held for sale.
|  |  | Fiscal Year Ended June 30, 2024
(Dollars in thousands) |  |  | Available-for-Sale Securities: Non-Agency MBS |  | Servicing Rights 1 |  |  |  | Total
Opening Balance |  |  | $ | 205,005 |  |  | $ | 25,443 |  |  |  |  | $ | 230,448 |
Total gains or losses for the period: |  |  |  |  |  |  |  |  |
Included in earnings—Mortgage banking and servicing rights income |  |  | — |  |  | 739 |  |  |  |  | 739 |
Included in other comprehensive income |  |  | 5,535 |  |  | — |  |  |  |  | 5,535 |
Purchases, retentions, issues, sales and settlements: |  |  |  |  |  |  |  |  |
Purchases/Retentions |  |  | — |  |  | 2,742 |  |  |  |  | 2,742 |
Settlements |  |  | (99,612) |  |  | — |  |  |  |  | (99,612) |
Closing balance |  |  | $ | 110,928 |  |  | $ | 28,924 |  |  |  |  | $ | 139,852 |
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period |  |  | $ | — |  |  | $ | 739 |  |  |  |  | $ | 739 |
1 Earnings from servicing rights were attributable to: time and payoffs, representing a decrease in servicing rights value due to passage of time, including the impact from both regularly scheduled loan principal payments and loans that were paid down or paid off during the period of $1.2 million for the fiscal year ended June 30, 2024 and an increase in servicing rights value resulting from market-driven changes in interest rates of $1.9 million for the fiscal year ended June 30, 2024. Additions to servicing rights were retained upon sale of loans held for sale.
Schedule of Quantitative Information About Level 3 Fair Value Measurements | The table below summarizes the quantitative information about Level 3 fair value measurements:
| June 30, 2025
(Dollars in thousands) | Fair Value | Valuation Technique | Unobservable Input | Range (Weighted Average)1
Securities – Non-agency MBS | $ | 15,569 |  | Discounted Cash Flow | Projected Constant Prepayment Rate, Projected Constant Default Rate, Projected Loss Severity, Discount Rate over SOFR Swaps, Credit Enhancement | 2.5 to 30.0% (22.4%) 1.5 to 11.9% (8.7%) 35.0 to 68.9% (43.4%) 2.5 to 4.1% (2.7%) 0.0 to 99.0% (39.2%)
Servicing Rights | $ | 27,218 |  | Discounted Cash Flow | Projected Constant Prepayment Rate, Life (in years), Discount Rate | 5.2 to 26.6% (9.7%) 2.5 to 12.8 (9.3) 9.5 to 11.2% (9.8%)
| June 30, 2024
(Dollars in thousands) | Fair Value | Valuation Technique | Unobservable Input | Range (Weighted Average)1
Securities – Non-agency MBS | $ | 110,928 |  | Discounted Cash Flow | Projected Constant Prepayment Rate, Projected Constant Default Rate, Projected Loss Severity, Discount Rate over LIBOR, Credit Enhancement | 0.0 to 72.1% (38.0%) 0.0 to 13.7% (2.8%) 0.0 to 68.9% (32.9%) 2.5 to 4.9% (2.5%) 0.0 to 64.9% (22.8%)
Servicing Rights | $ | 28,924 |  | Discounted Cash Flow | Projected Constant Prepayment Rate, Life (in years), Discount Rate | 5.5 to 95.2% (11.8%) 0.4 to 14.9 (7.9) 9.5 to 11.2% (9.8%)
1 The weighted average for Securities - Non-agency MBS is based on the relative fair value of the securities and for Servicing Rights is based on the relative unpaid principal of the loans being serviced.
Schedule of Aggregate Fair Value, Contractual Balance, and Unrealized Gain of Loans Held For Sale | The aggregate fair value of loans held for sale, carried at fair value, contractual balance (including accrued interest) and unrealized gain were:
| At June 30,
(Dollars in thousands) | 2025 |  | 2024 |  |
Aggregate fair value | $ | 10,012 |  |  | $ | 16,482 |  |  |
Contractual balance | 9,870 |  |  | 15,966 |  |  |
Unrealized gain | $ | 142 |  |  | $ | 516 |  |  |
The total interest income and amount of gains and losses from changes in fair value included in earnings for loans held for sale were:
| For the Fiscal Year Ended June 30,
(Dollars in thousands) | 2025 |  | 2024 |  | 2023
Interest income | $ | 999 |  |  | $ | 769 |  |  | $ | 415 |
Change in fair value | (366) |  |  | 122 |  |  | 57 |
Total | $ | 633 |  |  | $ | 891 |  |  | $ | 472 |
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments at Period-End | The carrying amount and estimated fair values of financial instruments were as follows:
| June 30, 2025
|  |  | Fair Value |  |
(Dollars in thousands) | Carrying Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value
Financial assets: |  |  |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash | $ | 2,176,354 |  |  | $ | 2,176,354 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,176,354 |
Trading securities | 649 |  |  | — |  |  | 649 |  |  | — |  |  | 649 |
Available-for-sale securities | 66,008 |  |  | — |  |  | 50,439 |  |  | 15,569 |  |  | 66,008 |
Stock of regulatory agencies | 35,163 |  |  | — |  |  | 35,163 |  |  | — |  |  | 35,163 |
Loans held for sale, at fair value | 10,012 |  |  | — |  |  | 10,012 |  |  | — |  |  | 10,012 |
Loans held for investment—net | 21,049,610 |  |  | — |  |  | — |  |  | 21,288,921 |  |  | 21,288,921 |
Securities borrowed | 139,396 |  |  | — |  |  | — |  |  | 138,103 |  |  | 138,103 |
Customer, broker-dealer and clearing receivables | 252,720 |  |  | — |  |  | — |  |  | 251,126 |  |  | 251,126 |
Servicing rights | 27,218 |  |  | — |  |  | — |  |  | 27,218 |  |  | 27,218 |
Other assets - derivative instruments 1 | 17,734 |  |  | — |  |  | 17,734 |  |  | — |  |  | 17,734 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Total deposits | 20,829,543 |  |  | — |  |  | 20,642,953 |  |  | — |  |  | 20,642,953 |
Advances from the Federal Home Loan Bank | 60,000 |  |  | — |  |  | 56,934 |  |  | — |  |  | 56,934 |
Borrowings, subordinated notes and debentures | 312,671 |  |  | — |  |  | 285,282 |  |  | — |  |  | 285,282 |
Securities loaned | 139,426 |  |  | — |  |  | — |  |  | 138,698 |  |  | 138,698 |
Customer, broker-dealer and clearing payables | 350,606 |  |  | — |  |  | — |  |  | 350,606 |  |  | 350,606 |
Accounts payable and other liabilities - derivative instruments | 68,498 |  |  | — |  |  | 68,498 |  |  | — |  |  | 68,498 |
| June 30, 2024
|  |  | Fair Value |  |
(Dollars in thousands) | Carrying Amount |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Fair Value
Financial assets: |  |  |  |  |  |  |  |  |
Cash, cash equivalents and restricted cash | $ | 2,185,776 |  |  | $ | 2,185,776 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,185,776 |
Trading securities | 353 |  |  | — |  |  | 353 |  |  | — |  |  | 353 |
Available-for-sale securities | 141,611 |  |  | — |  |  | 30,683 |  |  | 110,928 |  |  | 141,611 |
Stock of regulatory agencies | 21,957 |  |  | — |  |  | 21,957 |  |  | — |  |  | 21,957 |
Loans held for sale, at fair value | 16,482 |  |  | — |  |  | 16,482 |  |  | — |  |  | 16,482 |
Loans held for sale, at lower of cost or fair value | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loans held for investment—net | 19,231,385 |  |  | — |  |  | — |  |  | 19,209,442 |  |  | 19,209,442 |
Securities borrowed | 67,212 |  |  | — |  |  | — |  |  | 71,480 |  |  | 71,480 |
Customer, broker-dealer and clearing receivables | 240,028 |  |  | — |  |  | — |  |  | 249,317 |  |  | 249,317 |
Servicing rights | 28,924 |  |  | — |  |  | — |  |  | 28,924 |  |  | 28,924 |
Other assets - derivative instruments 1 | 106,796 |  |  | — |  |  | 106,796 |  |  | — |  |  | 106,796 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Total deposits | 19,359,217 |  |  | — |  |  | 19,217,281 |  |  | — |  |  | 19,217,281 |
Advances from the Federal Home Loan Bank | 90,000 |  |  | — |  |  | 84,201 |  |  | — |  |  | 84,201 |
Borrowings, subordinated notes and debentures | 325,679 |  |  | — |  |  | 302,487 |  |  | — |  |  | 302,487 |
Securities loaned | 74,177 |  |  | — |  |  | — |  |  | 74,021 |  |  | 74,021 |
Customer, broker-dealer and clearing payables | 301,127 |  |  | — |  |  | — |  |  | 301,127 |  |  | 301,127 |
Accounts payable and other liabilities - derivative instruments | 102,949 |  |  | — |  |  | 102,949 |  |  | — |  |  | 102,949 |
1 Derivatives assets as of June 30, 2025 are presented net of $55.4 million of variation margin on centrally-cleared derivatives. As of June 30, 2024, gross derivative assets are presented gross of $85.2 million of variation margin on centrally-cleared derivatives as a result of an $87.9 million receivable from the FDIC related to the novation of certain interest rate swaps.

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 101 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-101 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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