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FAIR VALUE (Tables)
 12 Months Ended
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 MBS1
46,757 — 46,757 
Non-Agency MBS2
— 15,569 15,569 
Municipal3,682 — 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 instruments3
$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 MBS1
27,259 — 27,259 
Non-Agency MBS2
— 110,928 110,928 
Municipal3,424 — 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 instruments3
$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 Rights1
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 income905 — 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 Rights1
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 income5,535 — 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 ValueValuation TechniqueUnobservable 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 FlowProjected 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 ValueValuation TechniqueUnobservable 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 FlowProjected 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)20252024
Aggregate fair value$10,012 $16,482 
Contractual balance9,870 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)202520242023
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 1Level 2Level 3Total 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 agencies35,163 — 35,163 — 35,163 
Loans held for sale, at fair value10,012 — 10,012 — 10,012 
Loans held for investment—net21,049,610 — — 21,288,921 21,288,921 
Securities borrowed139,396 — — 138,103 138,103 
Customer, broker-dealer and clearing receivables252,720 — — 251,126 251,126 
Servicing rights
27,218 — — 27,218 27,218 
Other assets - derivative instruments1
17,734 — 17,734 — 17,734 
Financial liabilities:
Total deposits20,829,543 — 20,642,953 — 20,642,953 
Advances from the Federal Home Loan Bank60,000 — 56,934 — 56,934 
Borrowings, subordinated notes and debentures312,671 — 285,282 — 285,282 
Securities loaned139,426 — — 138,698 138,698 
Customer, broker-dealer and clearing payables350,606 — — 350,606 350,606 
Accounts payable and other liabilities - derivative instruments68,498 — 68,498 — 68,498 
June 30, 2024
Fair Value
(Dollars in thousands)Carrying
Amount		Level 1Level 2Level 3Total 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 value16,482 — 16,482 — 16,482 
Loans held for sale, at lower of cost or fair value— — — — — 
Loans held for investment—net19,231,385 — — 19,209,442 19,209,442 
Securities borrowed67,212 — — 71,480 71,480 
Customer, broker-dealer and clearing receivables240,028 — — 249,317 249,317 
Servicing rights
28,924 — — 28,924 28,924 
Other assets - derivative instruments1
106,796 — 106,796 — 106,796 
Financial liabilities:
Total deposits19,359,217 — 19,217,281 — 19,217,281 
Advances from the Federal Home Loan Bank90,000 — 84,201 — 84,201 
Borrowings, subordinated notes and debentures325,679 — 302,487 — 302,487 
Securities loaned74,177 — — 74,021 74,021 
Customer, broker-dealer and clearing payables301,127 — — 301,127 301,127 
Accounts payable and other liabilities - derivative instruments102,949 — 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.