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DERIVATIVES (Tables)

6 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table presents the notional amounts and fair values 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. As of June 30, 2024, there were no derivatives designated in hedge accounting relationships.

			December 31, 2024																		June 30, 2024
									Fair Value																		Fair Value
(Dollars in thousands)			Notional Amount						Derivative Assets						Derivative Liabilities						Notional Amount						Derivative Assets						Derivative Liabilities
Derivatives designated as hedging instruments
Interest rate contracts			$	400,000					$	7,428					$	—					$	—					$	—					$	—
Derivatives not designated as hedging instruments
Interest rate contracts1			2,593,540						8,935						83,957						2,435,874						106,796						102,949
Total derivatives			$	2,993,540					$	16,363					$	83,957					$	2,435,874					$	106,796					$	102,949

1 Derivative assets are presented net of $78.0 million of variation margin on centrally-cleared derivatives as of December 31, 2024.

Schedule of Derivative Instruments, Gain (Loss)

The following table presents pre-tax gains/(losses) on derivative instruments used in cash flow hedge accounting relationships.

			For the Three Months Ended December 31,												For the Six Months Ended December 31,
(Dollars in thousands)			2024						2023						2024						2023
Amounts recorded in OCI			$	8,073					$	—					$	8,626
Amounts reclassified from AOCI to income			(1,478)						—						(1,478)
Total change in OCI for period			$	6,595					$	—					$	7,148					$	—

The following table presents the pre-tax gains/(losses) related to the Company’s derivative instrument activity recognized in the Condensed Consolidated Statements of Income:

			For the Three Months Ended December 31,												For the Six Months Ended December 31,
(Dollars in thousands)			2024						2023						2024						2023
Banking and service fees			$	(185)					$	50					$	(1,557)					$	390
Mortgage banking and servicing rights income			(134)						231						(385)						508

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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