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Condensed Parent Company Only Financial Statements (Tables) | 12 Months Ended
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Jun. 30, 2021
Condensed Parent Company Only Financial Statements |
Parent Company Condensed Balance Sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30,
(dollars in thousands) | ​ | 2021 |  | 2020
Condensed Balance Sheets | ​ | ​
Assets | ​ | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 1,193 | ​ | $ | 4,576
Other assets | ​ | ​ | 14,380 | ​ | ​ | 13,823
Investment in common stock of Bank | ​ | ​ | 283,500 | ​ | ​ | 255,601
TOTAL ASSETS | ​ | $ | 299,073 | ​ | $ | 274,000
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and Stockholders' Equity | ​ | ​ |  | ​ | ​ |
Accrued expenses and other liabilities | ​ | $ | 407 | ​ | $ | 511
Subordinated debt | ​ | ​ | 15,243 | ​ | ​ | 15,142
TOTAL LIABILITIES | ​ | ​ | 15,650 | ​ | ​ | 15,653
Stockholders' equity | ​ | ​ | 283,423 | ​ | ​ | 258,347
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | ​ | $ | 299,073 | ​ | $ | 274,000
Parent Company Condensed Statements of Income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30,
(dollars in thousands) | ​ | 2021 | ​ | 2020 |  | 2019
Condensed Statements of Income | ​ | ​
Interest income | ​ | $ | 13 | ​ | $ | 27 | ​ | $ | 25
Interest expense | ​ |  | 534 | ​ | ​ | 899 | ​ | ​ | 1,079
Net interest expense | ​ |  | (521) | ​ | ​ | (872) | ​ | ​ | (1,054)
Dividends from Bank | ​ | ​ | 12,000 | ​ | ​ | 34,000 | ​ | ​ | 23,000
Bargain purchase gain | ​ | ​ | — | ​ | ​ | 123 | ​ | ​ | —
Operating expenses | ​ | ​ | 599 | ​ | ​ | 1,529 | ​ | ​ | 827
Income before income taxes and equity in undistributed income of the Bank | ​ | ​ | 10,880 | ​ | ​ | 31,722 | ​ | ​ | 21,119
Income tax benefit | ​ | ​ | 235 | ​ | ​ | 292 | ​ | ​ | 358
Income before equity in undistributed income of the Bank | ​ | ​ | 11,115 | ​ | ​ | 32,014 | ​ | ​ | 21,477
Equity in undistributed income of the Bank | ​ | ​ | 36,065 | ​ | ​ | (4,469) | ​ | ​ | 7,427
NET INCOME | ​ | $ | 47,180 | ​ | $ | 27,545 | ​ | $ | 28,904
COMPREHENSIVE INCOME | ​ | $ | 45,615 | ​ | $ | 30,745 | ​ | $ | 32,496
Parent Company Condensed Statements of Cash Flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30,
(dollars in thousands) |  | 2021 |  | 2020 |  | 2019
Condensed Statements of Cash Flow | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash Flows from operating activities: | ​ | ​
Net income | ​ | $ | 47,180 | ​ | $ | 27,545 | ​ | $ | 28,904
Changes in: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in undistributed income of the Bank | ​ |  | (36,065) | ​ | ​ | 4,469 | ​ | ​ | (7,427)
Other adjustments, net | ​ | ​ | (559) | ​ | ​ | (904) | ​ | ​ | (635)
NET CASH PROVIDED BY OPERATING ACTIVITES | ​ | ​ | 10,556 | ​ | ​ | 31,110 | ​ | ​ | 20,842
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investments in Bank subsidiaries | ​ | ​ | — | ​ | ​ | (20,463) | ​ | ​ | (10,747)
NET CASH USED IN INVESTING ACTIVITIES | ​ | ​ | — | ​ | ​ | (20,463) | ​ | ​ | (10,747)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from financing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends on common stock | ​ | ​ | (5,598) | ​ | ​ | (5,513) | ​ | ​ | (4,763)
Exercise of stock options | ​ | ​ | — | ​ | ​ | 64 | ​ | ​ | —
Payments to acquire treasury stock | ​ | ​ | (8,341) | ​ | ​ | (5,771) | ​ | ​ | (1,166)
Repayments of long term debt | ​ | ​ | — | ​ | ​ | (3,000) | ​ | ​ | (4,400)
NET CASH USED IN FINANCING ACTIVITIES | ​ | ​ | (13,939) | ​ | ​ | (14,220) | ​ | ​ | (10,329)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net decrease in cash and cash equivalents | ​ | ​ | (3,383) | ​ | ​ | (3,573) | ​ | ​ | (234)
Cash and cash equivalents at beginning of year | ​ | ​ | 4,576 | ​ | ​ | 8,149 | ​ | ​ | 8,383
CASH AND CASH EQUIVALENTS AT END OF YEAR | ​ | $ | 1,193 | ​ | $ | 4,576 | ​ | $ | 8,149

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