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Fair Value of Financial Instruments (Tables)

12 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents financial assets measured at fair value on a recurring basis at the dates indicated:

			June 30, 2022
			Total						Level 1						Level 2						Level 3
U.S government agencies			$	18,459					$	—					$	18,459					$	—
MBS, residential			47,233						—						47,233						—
Municipal bonds			5,558						—						5,558						—
Corporate bonds			55,728						—						55,728						—
Total			$	126,978					$	—					$	126,978					$	—

			June 30, 2021
			Total						Level 1						Level 2						Level 3
U.S government agencies			$	19,073					$	—					$	19,073					$	—
MBS, residential			43,404						—						43,404						—
Municipal bonds			9,551						—						9,551						—
Corporate bonds			84,431						—						84,431						—
Total			$	156,459					$	—					$	156,459					$	—

Fair Value Measurements, Nonrecurring

The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated:

			June 30, 2022
			Total						Level 1						Level 2						Level 3
Collateral dependent loans
Commercial loans
Commercial and industrial			$	415					$	—					$	—					$	415
Residential real estate loans
One-to-four family			—						—						—						—
Total			$	415					$	—					$	—					$	415

			June 30, 2021
			Total						Level 1						Level 2						Level 3
Collateral dependent loans
Commercial real estate loans
Commercial real estate - owner occupied			$	1,422					$	—					$	—					$	1,422
Multifamily			3,421						—						—						3,421
Commercial loans
Equipment finance			275						—						—						275
Total			$	5,118					$	—					$	—					$	5,118

Fair Value, by Balance Sheet Grouping

The stated carrying value and estimated fair value amounts of financial instruments as of June 30, 2022 and June 30, 2021, are summarized below:

			June 30, 2022
			Carrying Value						Fair Value						Level 1						Level 2						Level 3
Assets
Cash and cash equivalents			$	105,119					$	105,119					$	105,119					$	—					$	—
Commercial paper, net			194,427						194,427						194,427						—						—
Certificates of deposit in other banks			23,551						23,551						—						23,551						—
Debt securities available for sale			126,978						126,978						—						126,978						—
Loans held for sale			79,307						80,489						—						—						80,489
Loans, net			2,734,605						2,687,293						—						—						2,687,293
FHLB and FRB stock			9,326						N/A						N/A						N/A						N/A
SBIC investments			12,758						12,758						—						—						12,758
Accrued interest receivable			8,573						8,573						24						580						7,969
Liabilities
Noninterest-bearing and NOW deposits			1,400,727						1,400,727						—						1,400,727						—
Money market accounts			969,661						969,661						—						969,661						—
Savings accounts			238,197						238,197						—						238,197						—
Certificates of deposit			491,176						485,452						—						485,452						—
Accrued interest payable			80						80						—						80						—

			June 30, 2021
			Carrying Value						Fair Value						Level 1						Level 2						Level 3
Assets
Cash and cash equivalents			$	50,990					$	50,990					$	50,990					$	—					$	—
Commercial paper, net			189,596						189,596						189,596						—						—
Certificates of deposit in other banks			40,122						40,122						—						40,122						—
Debt securities available for sale			156,459						156,459						—						156,459						—
Loans held for sale			93,539						94,779						—						—						94,779
Loans, net			2,697,799						2,668,570						—						—						2,668,570
FHLB and FRB stock			13,521						N/A						N/A						N/A						N/A
SBIC investments			10,171						10,171						—						—						10,171
Accrued interest receivable			7,933						7,933						52						542						7,339
Liabilities
Noninterest-bearing and NOW deposits			1,281,372						1,281,372						—						1,281,372						—
Money market accounts			975,001						975,001						—						975,001						—
Savings accounts			226,391						226,391						—						226,391						—
Certificates of deposit			472,777						474,397						—						474,397						—
Borrowings			115,000						115,000						—						115,000						—
Accrued interest payable			52						52						—						52						—

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 50
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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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/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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