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Fair Value of Financial Instruments (Tables)

9 Months Ended

Mar. 31, 2023

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:

			March 31, 2023
			Total						Level 1						Level 2						Level 3
Debt securities available for sale
U.S government agencies			$	15,565					$	—					$	15,565					$	—
MBS, residential			101,131						—						101,131						—
Municipal bonds			3,432						—						3,432						—
Corporate bonds			34,590						—						34,590						—
Total debt securities available for sale			$	154,718					$	—					$	154,718					$	—
Loans held for sale			$	1,209					$	—					$	1,209					$	—

			June 30, 2022
			Total						Level 1						Level 2						Level 3
Debt securities available for sale
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 debt securities available for sale			$	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:

			March 31, 2023
			Total						Level 1						Level 2						Level 3
Collateral dependent loans
Commercial real estate
Commercial real estate - owner occupied			$	920					$	—					$	—					$	920
Commercial real estate - non-owner occupied			2,971						—						—						2,971
Commercial loans
Commercial and industrial			336						—						—						336
Total			$	4,227					$	—					$	—					$	4,227

			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 March 31, 2023 and June 30, 2022, are summarized below:

			March 31, 2023
			Carrying Value						Fair Value						Level 1						Level 2						Level 3
Assets
Cash and cash equivalents			$	314,413					$	314,413					$	314,413					$	—					$	—
Certificates of deposit in other banks			33,102						33,102						—						33,102						—
Debt securities available for sale, at fair value			154,718						154,718						—						154,718						—
FHLB and FRB stock			19,125						N/A						N/A						N/A						N/A
SBIC investments, at cost			13,620						13,620						—						—						13,620
Loans held for sale, at fair value			1,209						1,209						—						1,209						—
Loans held for sale, at the lower of cost   or fair value			89,172						91,040						—						—						91,040
Loans, net			3,601,830						3,468,167						—						—						3,468,167
Accrued interest receivable			13,813						13,813						—						786						13,027
Liabilities
Noninterest-bearing and NOW deposits			1,550,670						1,550,670						—						1,550,670						—
Money market accounts			1,299,503						1,299,503						—						1,299,503						—
Savings accounts			228,390						228,390						—						228,390						—
Certificates of deposit			597,036						588,776						—						588,776						—
Junior subordinated debt			9,945						9,980						—						9,980						—
Borrowings			320,263						320,261						—						320,261						—
Accrued interest payable			1,660						1,660						—						1,660						—

			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						—
FHLB and FRB stock			9,326						N/A						N/A						N/A						N/A
SBIC investments, at cost			12,758						12,758						—						—						12,758
Loans held for sale			79,307						80,489						—						—						80,489
Loans, net			2,734,605						2,687,293						—						—						2,687,293
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

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-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
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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

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-Section 50
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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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