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Fair Value of Financial Instruments (Tables)

3 Months Ended

Sep. 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:

			September 30, 2022
			Total						Level 1						Level 2						Level 3
U.S government agencies			$	17,316					$	—					$	17,316					$	—
MBS, residential			91,507						—						91,507						—
Municipal bonds			5,420						—						5,420						—
Corporate bonds			47,498						—						47,498						—
Total			$	161,741					$	—					$	161,741					$	—

			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					$	—

Fair Value Measurements, Nonrecurring

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

			September 30, 2022
			Total						Level 1						Level 2						Level 3
Collateral dependent loans
Commercial loans
Commercial and industrial			$	344					$	—					$	—					$	344

			June 30, 2022
			Total						Level 1						Level 2						Level 3
Collateral dependent loans
Commercial loans
Commercial and industrial			$	415					$	—					$	—					$	415

Fair Value, by Balance Sheet Grouping

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

			September 30, 2022
			Carrying Value						Fair Value						Level 1						Level 2						Level 3
Assets
Cash and cash equivalents			$	94,159					$	94,159					$	94,159					$	—					$	—
Commercial paper, net			85,296						85,296						85,296						—						—
Certificates of deposit in other banks			27,535						27,535						—						27,535						—
Debt securities available for sale			161,741						161,741						—						161,741						—
Loans held for sale			76,252						77,513						—						—						77,513
Loans, net			2,829,482						2,756,169						—						—						2,756,169
FHLB and FRB stock			9,404						N/A						N/A						N/A						N/A
SBIC investments			12,235						12,235						—						—						12,235
Accrued interest receivable			9,667						9,667						—						777						8,890
Liabilities
Noninterest-bearing and NOW deposits			1,431,101						1,431,101						—						1,431,101						—
Money market accounts			960,150						960,150						—						960,150						—
Savings accounts			240,412						240,412						—						240,412						—
Certificates of deposit			471,005						462,500						—						462,500						—
Accrued interest payable			193						193						—						193						—

			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						—

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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-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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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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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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