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Loans and Allowance for Credit Losses on Loans
 3 Months Ended
Sep. 30, 2022
Receivables [Abstract]  
Loans and Allowance for Credit Losses on Loans Loans and Allowance for Credit Losses on Loans
Loans consist of the following at the dates indicated(1):
September 30, 2022
June 30, 2022
Commercial real estate loans
Construction and land development$310,985 $291,202 
Commercial real estate - owner occupied336,456 335,658 
Commercial real estate - non-owner occupied661,644 662,159 
Multifamily79,082 81,086 
Total commercial real estate loans1,388,167 1,370,105 
Commercial loans
Commercial and industrial205,606 192,652 
Equipment finance411,012 394,541 
Municipal leases130,777 129,766 
PPP loans238 661 
Total commercial loans747,633 717,620 
Residential real estate loans
Construction and land development91,488 81,847 
One-to-four family374,849 354,203 
HELOCs164,701 160,137 
Total residential real estate loans631,038 596,187 
Consumer loans100,945 85,383 
Total loans, net of deferred loan fees and costs2,867,783 2,769,295 
ACL on loans(38,301)(34,690)
Loans, net$2,829,482 $2,734,605 
(1) At September 30, 2022 and June 30, 2022 accrued interest receivable of $8,890 and $7,969 was accounted for separately from the amortized cost basis.

All qualifying one-to-four family first mortgage loans, HELOCs, commercial real estate loans, and FHLB of Atlanta stock are pledged as collateral by a blanket pledge to secure any outstanding FHLB advances.
Loans are monitored for credit quality on a recurring basis and the composition of the loans outstanding by credit quality indicator is provided below. Loan credit quality indicators are developed through review of individual borrowers on an ongoing basis. Generally, loans are monitored for performance on a quarterly basis with the credit quality indicators adjusted as needed. The indicators represent the rating for loans as of the date presented based on the most recent assessment performed. These credit quality indicators are defined as follows:
Pass—A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification.
Special Mention—A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification.
Substandard—A substandard asset is inadequately protected by the current net worth and paying capacity of the obligor, or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected.
Doubtful—An asset classified doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, on the basis of currently existing facts, conditions, and values.
Loss—Assets classified loss are considered uncollectible and of such little value that their continuing to be carried as an asset is not warranted. This classification is not necessarily equivalent to no potential for recovery or salvage value, but rather that it is not appropriate to defer a full write-off even though partial recovery may be effected in the future.
The following table presents the credit risk profile by risk grade for commercial real estate, commercial, residential real estate, and consumer loans by origination year as of September 30, 2022:
Term Loans By Origination Fiscal Year
September 30, 202220232022202120202019PriorRevolvingTotal
Construction and land development
Risk rating
Pass$8,397 $22,819 $6,132 $618 $1,655 $6,601 $258,421 $304,643 
Special mention— — — — — — 5,418 5,418 
Substandard— 871 — — — 53 — 924 
Doubtful
— — — — — — — — 
Loss— — — — — — — — 
Total construction and land development8,397 23,690 6,132 618 1,655 6,654 263,839 310,985 
Commercial real estate - owner occupied
Risk rating
Pass9,648 57,832 66,926 44,130 42,557 91,104 17,864 330,061 
Special mention— 131 — 391 405 2,366 — 3,293 
Substandard— — — — — 2,704 398 3,102 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total commercial real estate - owner occupied9,648 57,963 66,926 44,521 42,962 96,174 18,262 336,456 
Commercial real estate - non-owner occupied
Risk rating
Pass25,335 94,508 120,166 91,303 57,136 250,560 8,483 647,491 
Special mention— — — — — 14,149 — 14,149 
Substandard— — — — — 4 — 4 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total commercial real estate - non-owner occupied25,335 94,508 120,166 91,303 57,136 264,713 8,483 661,644 
Multifamily
Risk rating
Pass800 11,580 19,788 15,740 4,421 25,244 1,078 78,651 
Special mention— — — — 29 63 — 92 
Substandard— — — — — 339 — 339 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total multifamily800 11,580 19,788 15,740 4,450 25,646 1,078 79,082 
Total commercial real estate
Risk rating
Pass$44,180 $186,739 — $213,012 $151,791 $105,769 $373,509 $285,846 $1,360,846 
Special mention— 131 — 391 434 16,578 5,418 22,952 
Substandard— 871 — — — 3,100 398 4,369 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total commercial real estate$44,180 $187,741 $213,012 $152,182 $106,203 $393,187 $291,662 $1,388,167 
Term Loans By Origination Fiscal Year
September 30, 202220232022202120202019PriorRevolvingTotal
Commercial and industrial
Risk rating
Pass$20,453 $66,197 $19,969 $14,786 $8,270 $24,509 $43,554 $197,738 
Special mention— 148 344 261 362 — 241 1,356 
Substandard— — 669 341 1,438 47 4,003 6,498 
Doubtful
— — 14 — — — — 14 
Loss— — — — — — — — 
Total commercial and industrial20,453 66,345 20,996 15,388 10,070 24,556 47,798 205,606 
Equipment finance
Risk rating
Pass52,522 173,430 102,095 57,234 21,945 1,391 — 408,617 
Special mention— 247 153 932 487 — — 1,819 
Substandard— — 126 33 141 — — 300 
Doubtful— 31 245 — — — — 276 
Loss— — — — — — — — 
Total equipment finance52,522 173,708 102,619 58,199 22,573 1,391 — 411,012 
Municipal leases
Risk rating
Pass4,865 19,425 23,953 8,763 10,730 49,916 13,125 130,777 
Special mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total municipal leases4,865 19,425 23,953 8,763 10,730 49,916 13,125 130,777 
PPP loans
Risk rating
Pass— — 13 225 — — — 238 
Special mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total PPP loans— — 13 225 — — — 238 
Total commercial
Risk rating
Pass$77,840 $259,052 $146,030 $81,008 $40,945 $75,816 $56,679 $737,370 
Special mention— 395 497 1,193 849 — 241 3,175 
Substandard— — 795 374 1,579 47 4,003 6,798 
Doubtful— 31 259 — — — — 290 
Loss— — — — — — — — 
Total commercial$77,840 $259,478 $147,581 $82,575 $43,373 $75,863 $60,923 $747,633 
Term Loans By Origination Fiscal Year
September 30, 202220232022202120202019PriorRevolvingTotal
Construction and land development
Risk rating
Pass$— $863 $— $51 $— $1,631 $88,589 $91,134 
Special mention— — — — — — — — 
Substandard— — — — — 354 — 354 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total construction and land development— 863 — 51 — 1,985 88,589 91,488 
One-to-four family
Risk rating
Pass14,710 61,909 82,573 46,675 28,317 130,596 4,069 368,849 
Special mention— — — — — 634 — 634 
Substandard— 127 — 57 540 4,601 — 5,325 
Doubtful— — — — — 41 — 41 
Loss— — — — — — — — 
Total one-to-four family14,710 62,036 82,573 46,732 28,857 135,872 4,069 374,849 
HELOCs
Risk rating
Pass2,513 1,431 675 428 1,007 7,656 150,257 163,967 
Special mention— — — — — — — — 
Substandard— — — — — 658 48 706 
Doubtful— — — — — 28 — 28 
Loss— — — — — — — — 
Total HELOCs2,513 1,431 675 428 1,007 8,342 150,305 164,701 
Total residential real estate
Risk rating
Pass$17,223 $64,203 $83,248 $47,154 $29,324 $139,883 $242,915 $623,950 
Special mention— — — — — 634 — 634 
Substandard— 127 — 57 540 5,613 48 6,385 
Doubtful— — — — — 69 — 69 
Loss— — — — — — — — 
Total residential real estate$17,223 $64,330 $83,248 $47,211 $29,864 $146,199 $242,963 $631,038 
Term Loans By Origination Fiscal Year
September 30, 202220232022202120202019PriorRevolvingTotal
Total consumer
Risk rating
Pass$25,818 $23,836 $18,648 $13,795 $9,662 $8,062 $229 $100,050 
Special mention— — — — — — — — 
Substandard— 114 134 280 105 253 8 894 
Doubtful— — — — — — — — 
Loss— — — — 1 — — 1 
Total consumer$25,818 $23,950 $18,782 $14,075 $9,768 $8,315 $237 $100,945 
The following table presents the credit risk profile by risk grade for commercial real estate, commercial, residential real estate, and consumer loans by origination year as of June 30, 2022:
Term Loans By Origination Fiscal Year
June 30, 202220222021202020192018PriorRevolvingTotal
Construction and land development
Risk rating
Pass$21,988 $5,686 $627 $2,089 $1,092 $5,819 $248,189 $285,490 
Special mention— — — — — 97 4,677 4,774 
Substandard871 — — — — 67 — 938 
Doubtful
— — — — — — — — 
Loss— — — — — — — — 
Total construction and land development22,859 5,686 627 2,089 1,092 5,983 252,866 291,202 
Commercial real estate - owner occupied
Risk rating
Pass55,167 71,429 45,665 43,786 21,720 74,602 16,857 329,226 
Special mention— — 396 418 — 2,416 — 3,230 
Substandard— — — — 577 2,227 398 3,202 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total commercial real estate - owner occupied55,167 71,429 46,061 44,204 22,297 79,245 17,255 335,658 
Commercial real estate - non-owner occupied
Risk rating
Pass97,885 122,975 95,268 56,846 81,037 182,664 7,214 643,889 
Special mention— — — — 13,844 4,421 — 18,265 
Substandard— — — — — 5 — 5 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total commercial real estate - non-owner occupied97,885 122,975 95,268 56,846 94,881 187,090 7,214 662,159 
Multifamily
Risk rating
Pass10,135 19,985 15,881 8,614 2,796 20,587 2,495 80,493 
Special mention— — — 29 — 217 — 246 
Substandard— — — — — 347 — 347 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total multifamily10,135 19,985 15,881 8,643 2,796 21,151 2,495 81,086 
Total commercial real estate
Risk rating
Pass$185,175 $220,075 — $157,441 $111,335 $106,645 $283,672 $274,755 $1,339,098 
Special mention— — 396 447 13,844 7,151 4,677 26,515 
Substandard871 — — — 577 2,646 398 4,492 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total commercial real estate$186,046 $220,075 $157,837 $111,782 $121,066 $293,469 $279,830 $1,370,105 
Term Loans By Origination Fiscal Year
June 30, 202220222021202020192018PriorRevolvingTotal
Commercial and industrial
Risk rating
Pass$70,863 $21,059 $11,361 $9,377 $6,338 $20,856 $43,119 $182,973 
Special mention— 346 260 364 — — 1,957 2,927 
Substandard— 770 343 1,152 — 52 4,337 6,654 
Doubtful
— 98 — — — — — 98 
Loss— — — — — — — — 
Total commercial and industrial70,863 22,273 11,964 10,893 6,338 20,908 49,413 192,652 
Equipment finance
Risk rating
Pass186,139 113,363 64,400 26,467 1,755 — — 392,124 
Special mention200 331 1,002 547 — — — 2,080 
Substandard— 123 18 159 — — — 300 
Doubtful32 — — 5 — — — 37 
Loss— — — — — — — — 
Total equipment finance186,371 113,817 65,420 27,178 1,755 — — 394,541 
Municipal leases
Risk rating
Pass19,425 24,480 8,962 11,034 13,584 39,529 12,715 129,729 
Special mention— 37 — — — — — 37 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total municipal leases19,425 24,517 8,962 11,034 13,584 39,529 12,715 129,766 
PPP loans
Risk rating
Pass— 375 286 — — — — 661 
Special mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total PPP loans— 375 286 — — — — 661 
Total commercial
Risk rating
Pass$276,427 $159,277 $85,009 $46,878 $21,677 $60,385 $55,834 $705,487 
Special mention200 714 1,262 911 — — 1,957 5,044 
Substandard— 893 361 1,311 — 52 4,337 6,954 
Doubtful32 98 — 5 — — — 135 
Loss— — — — — — — — 
Total commercial$276,659 $160,982 $86,632 $49,105 $21,677 $60,437 $62,128 $717,620 
Term Loans By Origination Fiscal Year
June 30, 202220222021202020192018PriorRevolvingTotal
Construction and land development
Risk rating
Pass$864 $— $53 $— $— $1,783 $78,775 $81,475 
Special mention— — — — — — — — 
Substandard— — — — — 372 — 372 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total construction and land development864 — 53 — — 2,155 78,775 81,847 
One-to-four family
Risk rating
Pass55,415 74,035 47,364 29,075 23,250 113,307 4,077 346,523 
Special mention— — — — — 835 — 835 
Substandard128 — 1,002 540 430 4,590 — 6,690 
Doubtful— — — — — 155 — 155 
Loss— — — — — — — — 
Total one-to-four family55,543 74,035 48,366 29,615 23,680 118,887 4,077 354,203 
HELOCs
Risk rating
Pass1,466 458 282 901 107 7,441 148,526 159,181 
Special mention— — — — — — — — 
Substandard— — — — — 879 49 928 
Doubtful— — — — — 28 — 28 
Loss— — — — — — — — 
Total HELOCs1,466 458 282 901 107 8,348 148,575 160,137 
Total residential real estate
Risk rating
Pass$57,745 $74,493 $47,699 $29,976 $23,357 $122,531 $231,378 $587,179 
Special mention— — — — — 835 — 835 
Substandard128 — 1,002 540 430 5,841 49 7,990 
Doubtful— — — — — 183 — 183 
Loss— — — — — — — — 
Total residential real estate$57,873 $74,493 $48,701 $30,516 $23,787 $129,390 $231,427 $596,187 
Term Loans By Origination Fiscal Year
June 30, 202220222021202020192018PriorRevolvingTotal
Total consumer
Risk rating
Pass$25,935 $20,443 $15,849 $11,329 $8,235 $2,398 $277 $84,466 
Special mention— — — — — — — — 
Substandard72 169 274 85 182 100 33 915 
Doubtful— — — — — — — — 
Loss— — — 2 — — — 2 
Total consumer$26,007 $20,612 $16,123 $11,416 $8,417 $2,498 $310 $85,383 
The following tables present aging analyses of past due loans (including nonaccrual loans) by segment and class for the periods indicated below:
Past DueTotal
30-89 Days90 Days+TotalCurrentLoans
September 30, 2022
Commercial real estate
Construction and land development$— $— $— $310,985 $310,985 
Commercial real estate - owner occupied— — — 336,456 336,456 
Commercial real estate - non-owner occupied— — — 661,644 661,644 
Multifamily851 — 851 78,231 79,082 
Total commercial real estate851 — 851 1,387,316 1,388,167 
Commercial
Commercial and industrial671 1 672 204,934 205,606 
Equipment finance624 179 803 410,209 411,012 
Municipal leases328 — 328 130,449 130,777 
PPP loans— — — 238 238 
Total commercial1,623 180 1,803 745,830 747,633 
Residential real estate
Construction and land development2 135 137 91,351 91,488 
One-to-four family1,405 1,200 2,605 372,244 374,849 
HELOCs1,076 114 1,190 163,511 164,701 
Total residential real estate2,483 1,449 3,932 627,106 631,038 
Consumer189 144 333 100,612 100,945 
Total loans$5,146 $1,773 $6,919 $2,860,864 $2,867,783 
Past DueTotal
30-89 Days90 Days+TotalCurrentLoans
June 30, 2022
Commercial real estate
Construction and land development$— $— $— $291,202 $291,202 
Commercial real estate - owner occupied— 52 52 335,606 335,658 
Commercial real estate - non-owner occupied— — — 662,159 662,159 
Multifamily— — — 81,086 81,086 
Total commercial real estate— 52 52 1,370,053 1,370,105 
Commercial
Commercial and industrial255 — 255 192,397 192,652 
Equipment finance186 56 242 394,299 394,541 
Municipal leases— — — 129,766 129,766 
PPP loans— — — 661 661 
Total commercial441 56 497 717,123 717,620 
Residential real estate
Construction and land development115 22 137 81,710 81,847 
One-to-four family910 1,394 2,304 351,899 354,203 
HELOCs283 122 405 159,732 160,137 
Total residential real estate1,308 1,538 2,846 593,341 596,187 
Consumer330 177 507 84,876 85,383 
Total loans$2,079 $1,823 $3,902 $2,765,393 $2,769,295 
The following table presents recorded investment in loans on nonaccrual status, by segment and class, including restructured loans. It also includes interest income recognized on nonaccrual loans for the three months ended September 30, 2022.
September 30, 2022
 June 30, 2022
90 Days+ &
Still Accruing as of September 30, 2022
Nonaccrual With No Allowance as of September 30, 2022
Interest Income Recognized
Commercial real estate
Construction and land development$53 $67 $— $— $— 
Commercial real estate - owner occupied638 706 — — — 
Commercial real estate - non-owner occupied4 5 — — 6 
Multifamily99 103 — — 2 
Total commercial real estate794 881 — — 8 
Commercial
Commercial and industrial2,500 1,951 — 1 42 
Equipment finance523 270 — — 21 
Total commercial3,023 2,221 — 1 63 
Residential real estate
Construction and land development135 137 — — 1 
One-to-four family1,847 1,773 — 540 15 
HELOCs694 724 — — 5 
Total residential real estate2,676 2,634 — 540 21 
Consumer333 384 — — 4 
Total loans$6,826 $6,120 $— $541 $96 
TDRs are loans which have renegotiated loan terms to assist borrowers who are unable to meet the original terms of their loans. Such modifications to loan terms may include a lower interest rate, a reduction in principal, and/or a longer term to maturity. The above table excludes $9,929 and $9,818 of TDRs that were performing under their restructured payment terms as of September 30, 2022 and June 30, 2022, respectively.
The following tables present analyses of the ACL on loans by segment for the period indicated below. In addition to the provision (benefit) for credit losses on loans presented below, provisions (benefits) of $443 and $(125) for off-balance sheet credit exposures and $(150) and $0 for commercial paper were recorded during the three months ended September 30, 2022 and 2021, respectively.
Three Months Ended September 30, 2022
Commercial Real EstateCommercialResidential Real EstateConsumerTotal
Balance at beginning of period$13,414 $12,036 $7,611 $1,629 $34,690 
Provision (benefit) for credit losses1,264 1,064 674 692 3,694 
Charge-offs— (274)(72)(101)(447)
Recoveries2 152 170 40 364 
Net (charge-offs) recoveries$2 $(122)$98 $(61)$(83)
Balance at end of period$14,680 $12,978 $8,383 $2,260 $38,301 
Three Months Ended September 30, 2021
Commercial Real EstateCommercialResidential Real EstateConsumerTotal
Balance at beginning of period$15,084 $9,663 $8,185 $2,536 $35,468 
Provision (benefit) for credit losses(1,336)713 (789)77 (1,335)
Charge-offs(438)(181)(27)(63)(709)
Recoveries684 16 232 50 982 
Net (charge-offs) recoveries246 (165)205 (13)273 
Balance at end of period$13,994 $10,211 $7,601 $2,600 $34,406 
The following tables present ending balances of loans and the related ACL, by segment and class for the periods indicated below:
Allowance for Credit LossesTotal Loans Receivable
Loans
Individually
Evaluated 		Loans
Collectively
Evaluated		TotalLoans
Individually
Evaluated		Loans
Collectively
Evaluated		Total
September 30, 2022
Commercial real estate
Construction and land development$— $5,374 $5,374 $— $310,985 $310,985 
Commercial real estate - owner occupied— 3,134 3,134 — 336,456 336,456 
Commercial real estate - non-owner occupied— 5,764 5,764 — 661,644 661,644 
Multifamily— 408 408 — 79,082 79,082 
Total commercial real estate— 14,680 14,680 — 1,388,167 1,388,167 
Commercial
Commercial and industrial2,146 3,862 6,008 3,167 202,439 205,606 
Equipment finance— 6,672 6,672 — 411,012 411,012 
Municipal leases— 298 298 — 130,777 130,777 
PPP loans— — — — 238 238 
Total commercial2,146 10,832 12,978 3,167 744,466 747,633 
Residential real estate
Construction and land development— 1,346 1,346 — 91,488 91,488 
One-to-four family— 5,080 5,080 2,479 372,370 374,849 
HELOCs— 1,957 1,957 — 164,701 164,701 
Total residential real estate— 8,383 8,383 2,479 628,559 631,038 
Consumer— 2,260 2,260 — 100,945 100,945 
Total$2,146 $36,155 $38,301 $5,646 $2,862,137 $2,867,783 
Allowance for Loan LossesTotal Loans Receivable
Loans
Individually
Evaluated		Loans
Collectively
Evaluated		TotalLoans
Individually
Evaluated		Loans
Collectively
Evaluated		Total
June 30, 2022
Commercial real estate
Construction and land development$— $4,402 $4,402 $— $291,202 $291,202 
Commercial real estate - owner occupied— 3,038 3,038 — 335,658 335,658 
Commercial real estate - non-owner occupied— 5,589 5,589 — 662,159 662,159 
Multifamily— 385 385 — 81,086 81,086 
Total commercial real estate— 13,414 13,414 — 1,370,105 1,370,105 
Commercial
Commercial and industrial2,191 2,892 5,083 2,854 189,798 192,652 
Equipment finance— 6,651 6,651 — 394,541 394,541 
Municipal leases— 302 302 — 129,766 129,766 
PPP loans— — — — 661 661 
Total commercial2,191 9,845 12,036 2,854 714,766 717,620 
Residential real estate
Construction and land development— 1,052 1,052 — 81,847 81,847 
One-to-four family— 4,673 4,673 2,486 351,717 354,203 
HELOCs— 1,886 1,886 — 160,137 160,137 
Total residential real estate— 7,611 7,611 2,486 593,701 596,187 
Consumer— 1,629 1,629 — 85,383 85,383 
Total$2,191 $32,499 $34,690 $5,340 $2,763,955 $2,769,295 
In estimating expected credit losses, ASC 326 prescribes that if foreclosure is probable, a CDA is required to be measured at the fair value of collateral, but as a practical expedient, if foreclosure is not probable, fair value measurement is optional. For those CDA loans measured at the fair value of collateral, a credit loss expense is recorded for loan amounts in excess of fair value. The following tables provide a breakdown between loans identified as CDAs and non-CDAs, by segment and class, and securing collateral, as well as collateral coverage for those loans for the periods indicated below:
Type of Collateral and Extent to Which Collateral Secures Financial AssetsFinancial Assets Not Considered Collateral Dependent
September 30, 2022Residential PropertyInvestment PropertyCommercial PropertyBusiness AssetsTotal
Commercial real estate
Construction and land development$— $— $— $— $310,985 $310,985 
Commercial real estate - owner occupied— — — — 336,456 336,456 
Commercial real estate - non-owner occupied— — — — 661,644 661,644 
Multifamily— — — — 79,082 79,082 
Total commercial real estate— — — — 1,388,167 1,388,167 
Commercial
Commercial and industrial— — — 2,479 203,127 205,606 
Equipment finance— — — — 411,012 411,012 
Municipal leases— — — — 130,777 130,777 
PPP loans— — — — 238 238 
Total commercial— — — 2,479 745,154 747,633 
Residential real estate
Construction and land development— — — — 91,488 91,488 
One-to-four family1,311 — — — 373,538 374,849 
HELOCs— — — — 164,701 164,701 
Total residential real estate1,311 — — — 629,727 631,038 
Consumer— — — — 100,945 100,945 
Total$1,311 $— $— $2,479 $2,863,993 $2,867,783 
Total collateral value$2,443 $— $— $— 
Type of Collateral and Extent to Which Collateral Secures Financial AssetsFinancial Assets Not Considered Collateral Dependent
June 30, 2022Residential PropertyInvestment PropertyCommercial PropertyBusiness AssetsTotal
Commercial real estate
Construction and land development$— $— $— $— $291,202 $291,202 
Commercial real estate - owner occupied— — — — 335,658 335,658 
Commercial real estate - non-owner occupied— — — — 662,159 662,159 
Multifamily— — — — 81,086 81,086 
Total commercial real estate— — — — 1,370,105 1,370,105 
Commercial
Commercial and industrial— — — 2,594 190,058 192,652 
Equipment finance— — — — 394,541 394,541 
Municipal leases— — — — 129,766 129,766 
PPP loans— — — — 661 661 
Total commercial— — — 2,594 715,026 717,620 
Residential real estate
Construction and land development— — — — 81,847 81,847 
One-to-four family1,318 — — — 352,885 354,203 
HELOCs— — — — 160,137 160,137 
Total residential real estate1,318 — — — 594,869 596,187 
Consumer— — — — 85,383 85,383 
Total$1,318 $— $— $2,594 $2,765,383 $2,769,295 
Total collateral value$2,443 $— $— $69 
The following table presents a breakdown of the types of concessions made on TDRs by loan class for the periods indicated below:
Three Months Ended September 30,
20222021
Number
of
Loans		Pre
Modification
Outstanding
Recorded
Investment		Post
Modification
Outstanding
Recorded
Investment		Number
of
Loans		Pre
Modification
Outstanding
Recorded
Investment		Post
Modification
Outstanding
Recorded
Investment
Below market interest rate
Commercial real estate
Commercial and industrial5 $569 $569 — $— $— 
Total below market interest rate5 569 569 — — — 
Other TDRs
Residential real estate
HELOCs— $— $— 1 $18 $18 
Consumer3 37 31 5 84 83 
Total other TDRs3 37 31 6 102 101 
Total8 $606 $600 6 $102 $101 
The following table presents loans that were modified as TDRs within the previous 12 months and for which there was a payment default during the periods indicated below:
Three Months Ended September 30,
20222021
Number of
Loans		Recorded
Investment		Number of
Loans		Recorded
Investment
Extended payment terms
Residential real estate loans
One-to-four family1 $34 — $— 
Total extended payment terms1 34 — — 
Other TDRs
Consumer1 $2 2 $44 
Total other TDRs1 $2 2 $44 
Total2 $36 2 $44 
Other TDRs include TDRs that have a below market interest rate and extended payment terms. The Company does not typically forgive principal when restructuring troubled debt.
In determining the ACL, management considers TDRs for all loan classes, and the subsequent nonperformance in accordance with their modified terms, by measuring a reserve on a loan-by-loan basis based on either the value of the loan's expected future cash flows discounted at the loan's original effective interest rate or on the collateral value, net of the estimated costs of disposal, if the loan is collateral dependent.
Off-Balance-Sheet Credit Exposure
The Company maintains a separate reserve for credit losses on off-balance-sheet credit exposures, including unfunded loan commitments, which is included in other liabilities on the consolidated balance sheet. The reserve for credit losses on off-balance-sheet credit exposures is adjusted as a provision for credit losses in the consolidated statement of income. The estimate includes consideration of the likelihood that funding will occur and an estimate of ECLs on commitments expected to be funded over its estimated life, utilizing the same models and approaches for the Company's other loan portfolio segments described above, as these unfunded commitments share similar risk characteristics as its loan portfolio segments. The Company has identified the unfunded portion of certain lines of credit as unconditionally cancellable credit exposures, meaning the Company can cancel the unfunded commitment at any time. No credit loss estimate is reported for off-balance-sheet credit exposures that are unconditionally cancellable by the Company or for undrawn amounts under such arrangements that may be drawn prior to the cancellation of the arrangement. At September 30, 2022 and June 30, 2022, the ACL on off-balance-sheet credit exposures included in other liabilities was $3,747 and $3,304, respectively.