XML 37 R25.htm IDEA: XBRL DOCUMENT v3.25.1
LOANS & ALLOWANCE FOR CREDIT LOSSES (Tables)
 9 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Schedule of Composition of the Loan Portfolio
The following table sets forth the composition of the loan portfolio:
(Dollars in thousands)March 31, 2025June 30, 2024
Single Family - Mortgage & Warehouse$4,194,821 $4,178,832 
Multifamily and Commercial Mortgage1
3,340,618 3,861,931 
Commercial Real Estate1
6,356,559 6,088,622 
Commercial & Industrial - Non-RE6,389,964 5,241,766 
Auto & Consumer447,294 431,660 
Total gross loans20,729,256 19,802,811 
Allowance for credit losses - loans(279,950)(260,542)
Unaccreted premiums (discounts) and loan fees(255,676)(310,884)
Total net loans$20,193,630 $19,231,385 
1 Includes purchased credit deteriorated (“PCD”) loans of $280.0 million and $284.0 million in Multifamily and Commercial Mortgage and $44.5 million and $44.5 million in Commercial Real Estate as of March 31, 2025 and June 30, 2024, respectively. For further detail on PCD loans, see Note 1—“Organizations and Summary of Significant Accounting Policies” in the 2024 Form 10-K.
Schedule of Real Estate Loans, Loan-to-Value Ratio
The following table presents loan-to-value (“LTV”) for the Company’s real estate loans outstanding as of March 31, 2025:
Total Real Estate LoansSingle Family - Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real Estate
Weighted-Average LTV48.4 %56.2 %50.3 %42.2 %
Median LTV51.2 %53.5 %48.4 %43.9 %
Schedule of Allowance for Credit Losses on Financing Receivables
The following table presents the components of the provision for credit losses:
For the Three Months Ended March 31,
For the Nine Months Ended March 31,
(Dollars in thousands)
2025202420252024
Provision for credit losses - loans
$13,750 $9,000 $36,998 $27,250 
Provision for credit losses - unfunded lending commitments
750 (3,000)3,750 (750)
    Total provision for credit losses
$14,500 $6,000 $40,748 $26,500 
The following tables summarize activity in the allowance for credit losses - loans by portfolio segment:
For the Three Months Ended March 31, 2025
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Balance at January 1, 2025
$16,104 $56,077 $102,454 $84,455 $11,515 $270,605 
Provision (benefit) for credit losses - loans1,593 (7,976)(12,870)29,921 3,082 13,750 
Charge-offs(2,297)(1,131)— (753)(2,026)(6,207)
Recoveries4 689 255 — 854 1,802 
Balance at March 31, 2025
$15,404 $47,659 $89,839 $113,623 $13,425 $279,950 
For the Three Months Ended March 31, 2024
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Balance at January 1, 2024
$15,356 $78,353 $77,778 $69,201 $11,061 $251,749 
Provision (benefit) for credit losses - loans1,629 (1,856)5,064 2,809 1,354 9,000 
Charge-offs(90)(139)— — (3,776)(4,005)
Recoveries70 — — — 708 778 
Balance at March 31, 2024
$16,965 $76,358 $82,842 $72,010 $9,347 $257,522 
For the Nine Months Ended March 31, 2025
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Balance at July 1, 2024
$16,943 $70,771 $87,780 $76,032 $9,016 $260,542 
Provision (benefit) for credit losses - loans702 (16,116)1,804 41,506 9,102 36,998 
Charge-offs(2,297)(7,685)— (3,915)(7,370)(21,267)
Recoveries56 689 255 — 2,677 3,677 
Balance at March 31, 2025
$15,404 $47,659 $89,839 $113,623 $13,425 $279,950 
For the Nine Months Ended March 31, 2024
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Balance at July 1, 2023
$17,503 $16,848 $72,755 $46,347 $13,227 $166,680 
Allowance for credit losses at acquisition of PCD loans— 58,972 11,125 — — 70,097 
Provision (benefit) for credit losses - loans(461)677 (1,038)25,749 2,323 27,250 
Charge-offs(170)(139)— (86)(8,378)(8,773)
Recoveries93 — — — 2,175 2,268 
Balance at March 31, 2024
$16,965 $76,358 $82,842 $72,010 $9,347 $257,522 
The following tables present a summary of the activity in the allowance for credit losses for off-balance sheet lending commitments:
Three Months Ended March 31,
(Dollars in thousands)20252024
Balance at January 1,
$13,223 $12,723 
Provision (benefit) for credit losses - unfunded lending commitments750 (3,000)
Balance at March 31,
$13,973 $9,723 
Nine Months Ended March 31,
(Dollars in thousands)20252024
Balance at July 1,
$10,223 $10,473 
Provision (benefit) for credit losses - unfunded lending commitments3,750 (750)
Balance at March 31,
$13,973 $9,723 
Schedule of Outstanding Principal Balance on Loans Performing and Nonaccrual The following tables provide the composition of loans that are performing and nonaccrual by portfolio segment:
March 31, 2025
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Performing$4,151,274 $3,306,746 $6,322,424 $6,318,810 $444,942 $20,544,196 
Nonaccrual43,547 33,872 34,135 71,154 2,352 185,060 
Total$4,194,821 $3,340,618 $6,356,559 $6,389,964 $447,294 $20,729,256 
Nonaccrual loans to total loans0.89 %
June 30, 2024
(Dollars in thousands)Single Family-Mortgage & WarehouseMultifamily and Commercial MortgageCommercial Real EstateCommercial & Industrial - Non-REAuto & ConsumerTotal
Performing$4,133,121 $3,826,877 $6,062,520 $5,237,746 $429,188 $19,689,452 
Nonaccrual45,711 35,054 26,102 4,020 2,472 113,359 
Total$4,178,832 $3,861,931 $6,088,622 $5,241,766 $431,660 $19,802,811 
Nonaccrual loans to total loans0.57 %
Schedule of Composition of Loan and Lease Portfolio by Credit Quality Indicators
The following tables present the composition of loans by portfolio segment, fiscal year of origination and credit quality indicator, and the amount of year-to-date gross charge-offs.
March 31, 2025
Loans Held for Investment by Fiscal Year of Origination
Revolving Loans Total
(Dollars in thousands)20252024202320222021Prior
Single Family-Mortgage & Warehouse
Pass$487,621 $319,582 $473,700 $1,086,704 $453,658 $785,879 $490,429 $4,097,573 
Special Mention— — — 4,100 9,051 24,670 7,602 45,423 
Substandard— — — 12,579 1,100 38,146 — 51,825 
Doubtful— — — — — — — — 
Total487,621 319,582 473,700 1,103,383 463,809 848,695 498,031 4,194,821 
Year-to-date gross charge-offs— — — — — 2,297 — 2,297 
Multifamily and Commercial Mortgage
Pass43,011 26,655 642,262 952,205 464,138 1,070,737 — 3,199,008 
Special Mention— — 5,296 41,474 3,150 18,293 — 68,213 
Substandard— — 18,530 13,262 — 41,605 — 73,397 
Doubtful— — — — — — — — 
Total43,011 26,655 666,088 1,006,941 467,288 1,130,635 — 3,340,618 
Year-to-date gross charge-offs— — — — — 7,685 — 7,685 
Commercial Real Estate
Pass2,154,798 1,486,552 816,851 732,780 146,817 44,812 925,206 6,307,816 
Special Mention— — — — — — — — 
Substandard— — — 14,324 5,000 14,810 14,609 48,743 
Doubtful— — — — — — — — 
Total2,154,798 1,486,552 816,851 747,104 151,817 59,622 939,815 6,356,559 
Year-to-date gross charge-offs— — — — — — — — 
Commercial & Industrial - Non-RE
Pass667,082 820,277 384,897 87,383 36,981 98,110 3,911,588 6,006,318 
Special Mention— 16,188 — 45,774 — — 20,831 82,793 
Substandard— 12,233 32,642 131,250 2,745 2,989 104,084 285,943 
Doubtful— — — 10,000 — — 4,910 14,910 
Total667,082 848,698 417,539 274,407 39,726 101,099 4,041,413 6,389,964 
Year-to-date gross charge-offs— — 884 — 1,031 — 2,000 3,915 
Auto & Consumer
Pass140,872 52,184 84,250 124,438 27,697 14,449 — 443,890 
Special Mention48 51 250 329 157 51 — 886 
Substandard375 257 448 833 125 480 — 2,518 
Doubtful— — — — — — — — 
Total141,295 52,492 84,948 125,600 27,979 14,980 — 447,294 
Year-to-date gross charge-offs18 403 1,818 2,663 713 1,755 — 7,370 
Total
Pass3,493,384 2,705,250 2,401,960 2,983,510 1,129,291 2,013,987 5,327,223 20,054,605 
Special Mention48 16,239 5,546 91,677 12,358 43,014 28,433 197,315 
Substandard375 12,490 51,620 172,248 8,970 98,030 118,693 462,426 
Doubtful— — — 10,000 — — 4,910 14,910 
Total$3,493,807 $2,733,979 $2,459,126 $3,257,435 $1,150,619 $2,155,031 $5,479,259 $20,729,256 
As a % of total gross loans16.9%13.2%11.9%15.7%5.6%10.4%26.3%100%
Year-to-date gross charge-offs$18 $403 $2,702 $2,663 $1,744 $11,737 $2,000 $21,267 
June 30, 2024
Loans Held for Investment by Fiscal Year of Origination
Revolving Loans Total
(Dollars in thousands)20242023202220212020Prior
Single Family-Mortgage & Warehouse
Pass$491,822 $590,060 $1,200,230 $487,132 $291,047 $720,049 $256,778 $4,037,118 
Special Mention31,000 — 24,489 665 6,591 26,873 — 89,618 
Substandard— 283 6,728 — 14,720 30,365 — 52,096 
Doubtful— — — — — — — — 
Total522,822 590,343 1,231,447 487,797 312,358 777,287 256,778 4,178,832 
Year-to-date gross charge-offs— — — — — 172 — 172 
Multifamily and Commercial Mortgage
Pass36,058 700,163 994,004 595,299 510,341 811,184 — 3,647,049 
Special Mention— 29,325 46,194 17,478 9,011 10,277 — 112,285 
Substandard— 13,489 12,509 15,507 41,013 20,079 — 102,597 
Doubtful— — — — — — — — 
Total36,058 742,977 1,052,707 628,284 560,365 841,540 — 3,861,931 
Year-to-date gross charge-offs— — — — 640 — — 640 
Commercial Real Estate
Pass1,952,001 1,419,399 1,456,643 221,061 7,741 53,000 866,686 5,976,531 
Special Mention— — 27,452 — — — — 27,452 
Substandard— 5,600 43,700 5,000 — 30,339 — 84,639 
Doubtful— — — — — — — — 
Total1,952,001 1,424,999 1,527,795 226,061 7,741 83,339 866,686 6,088,622 
Year-to-date gross charge-offs— — — — — — — — 
Commercial & Industrial - Non-RE
Pass991,497 458,454 238,397 44,923 10,422 12,867 3,295,425 5,051,985 
Special Mention— 1,613 731 1,818 — — 5,349 9,511 
Substandard— 34,433 122,729 1,031 — 2,988 19,089 180,270 
Doubtful— — — — — — — — 
Total991,497 494,500 361,857 47,772 10,422 15,855 3,319,863 5,241,766 
Year-to-date gross charge-offs— — — — — 84 — 84 
Auto & Consumer
Pass65,766 114,615 177,043 43,287 13,402 14,056 — 428,169 
Special Mention33 213 422 176 — 61 — 905 
Substandard142 547 1,264 410 114 109 — 2,586 
Doubtful— — — — — — — — 
Total65,941 115,375 178,729 43,873 13,516 14,226 — 431,660 
Year-to-date gross charge-offs202 3,471 5,212 1,556 303 269 — 11,013 
Total
Pass3,537,144 3,282,691 4,066,317 1,391,702 832,953 1,611,156 4,418,889 19,140,852 
Special Mention31,033 31,151 99,288 20,137 15,602 37,211 5,349 239,771 
Substandard142 54,352 186,930 21,948 55,847 83,880 19,089 422,188 
Doubtful— — — — — — — — 
Total$3,568,319 $3,368,194 $4,352,535 $1,433,787 $904,402 $1,732,247 $4,443,327 $19,802,811 
As a % of total gross loans18.0%17.0%22.0%7.2%4.6%8.8%22.4%100%
Total year-to-date gross charge-offs$202 $3,471 $5,212 $1,556 $943 $525 $— $11,909 
Schedule of Aging of Loans by Portfolio Segment
The following tables provide the aging of loans by portfolio segment:
March 31, 2025
(Dollars in thousands)Current30-59 Days60-89 Days90+ DaysTotal
Single Family-Mortgage & Warehouse$4,130,060 $13,951 $8,619 $42,191 $4,194,821 
Multifamily and Commercial Mortgage3,261,631 31,955 13,697 33,335 3,340,618 
Commercial Real Estate6,319,579 — 2,932 34,048 6,356,559 
Commercial & Industrial - Non-RE6,375,665 — 38 14,261 6,389,964 
Auto & Consumer441,716 3,456 913 1,209 447,294 
Total$20,528,651 $49,362 $26,199 $125,044 $20,729,256 
As a % of total gross loans99.03 %0.24 %0.13 %0.60 %100 %
June 30, 2024
(Dollars in thousands)Current30-59 Days60-89 Days90+ DaysTotal
Single Family-Mortgage & Warehouse$4,070,186 $46,387 $18,401 $43,858 $4,178,832 
Multifamily and Commercial Mortgage3,795,387 13,074 8,554 44,916 3,861,931 
Commercial Real Estate6,024,470 — 25,950 38,202 6,088,622 
Commercial & Industrial - Non-RE
5,240,734 — — 1,032 5,241,766 
Auto & Consumer424,555 4,644 996 1,465 431,660 
Total$19,555,332 $64,105 $53,901 $129,473 $19,802,811 
As a % of total gross loans98.75 %0.33 %0.27 %0.65 %100 %