OFFSETTING OF DERIVATIVES AND SECURITIES FINANCING AGREEMENTS

9 Months Ended

Mar. 31, 2025

OFFSETTING OF DERIVATIVES AND SECURITIES FINANCING AGREEMENTS

The Company enters into derivatives transactions as part of its mortgage banking activities, market making activity in interest rate swap and cap derivatives to facilitate customer demand and hedging activities related to interest rate risk management, and enters into securities borrowed and securities loaned transactions to facilitate customer match-book activity, cover short positions and support customer securities lending. For additional information on offsetting see Note 7—“Offsetting of Derivatives and Securities Financing Agreements” in the 2024 Form 10-K.

The following tables present information about the offsetting of these instruments and related collateral amounts:


	March 31, 2025
(Dollars in thousands)	Gross Assets / Liabilities		Amounts Offset		Net Balance Sheet Amount		Amounts Not Offset2		Net Assets / Liabilities
Assets:
Securities borrowed	$	91,915	$	—	$	91,915	$	91,915	$	—
Other Assets — Derivative Assets1	16,155		—		16,155		11,788		4,367
Liabilities:
Securities loaned	$	111,094	$	—	$	111,094	$	111,094	$	—
Accounts Payable and Other Liabilities — Derivative Liabilities	72,642		—		72,642		4,043		68,599


	June 30, 2024
(Dollars in thousands)	Gross Assets / Liabilities		Amounts Offset		Net Balance Sheet Amount		Amounts Not Offset2		Net Assets / Liabilities
Assets:
Securities borrowed	$	67,212	$	—	$	67,212	$	67,212	$	—
Other Assets — Derivative Assets	106,796		—		106,796		18,524		88,272
Liabilities:
Securities loaned	$	74,177	$	—	$	74,177	$	74,177	$	—
Accounts Payable and Other Liabilities — Derivative Liabilities	102,949		—		102,949		414		102,535

1 Other Assets - Derivative Assets are presented net of $63.2 million of variation margin on centrally-cleared derivatives as of March 31, 2025.

2 Amounts not offset reflect cash collateral received on Derivative Assets of $8.4 million and $18.1 million as of March 31, 2025 and June 30, 2024, respectively, and cash collateral placed on Derivative Liabilities of $0.7 million as of March 31, 2025. There was no cash collateral placed on Derivative Liabilities as of June 30, 2024.

The securities loaned transactions represent equities with an overnight and open maturity classification as of both periods presented.