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v3.22.2.2

Condensed Parent Company Only Financial Statements (Tables) | 12 Months Ended
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Jun. 30, 2022
Condensed Parent Company Only Financial Statements |
Parent Company Condensed Balance Sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30,
(dollars in thousands) | ​ | 2022 |  | 2021
Condensed Balance Sheets | ​ | ​
Assets | ​ | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 8,964 | ​ | $ | 1,193
Other assets | ​ | ​ | 28,691 | ​ | ​ | 14,380
Investment in common stock of Bank | ​ | ​ | 306,549 | ​ | ​ | 283,500
TOTAL ASSETS | ​ | $ | 344,204 | ​ | $ | 299,073
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and Stockholders' Equity | ​ | ​ |  | ​ | ​ |
Accrued expenses and other liabilities | ​ | $ | 377 | ​ | $ | 407
Subordinated debt | ​ | ​ | 23,055 | ​ | ​ | 15,243
TOTAL LIABILITIES | ​ | ​ | 23,432 | ​ | ​ | 15,650
Stockholders' equity | ​ | ​ | 320,772 | ​ | ​ | 283,423
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | ​ | $ | 344,204 | ​ | $ | 299,073
Parent Company Condensed Statements of Income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30,
(dollars in thousands) | ​ | 2022 | ​ | 2021 |  | 2020
Condensed Statements of Income | ​ | ​
Interest income | ​ | $ | 14 | ​ | $ | 13 | ​ | $ | 27
Interest expense | ​ |  | 686 | ​ | ​ | 534 | ​ | ​ | 899
Net interest expense | ​ |  | (672) | ​ | ​ | (521) | ​ | ​ | (872)
Dividends from Bank | ​ | ​ | 31,000 | ​ | ​ | 12,000 | ​ | ​ | 34,000
Bargain purchase gain | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 123
Operating expenses | ​ | ​ | 1,124 | ​ | ​ | 599 | ​ | ​ | 1,529
Income before income taxes and equity in undistributed income of the Bank | ​ | ​ | 29,204 | ​ | ​ | 10,880 | ​ | ​ | 31,722
Income tax benefit | ​ | ​ | 321 | ​ | ​ | 235 | ​ | ​ | 292
Income before equity in undistributed income of the Bank | ​ | ​ | 29,525 | ​ | ​ | 11,115 | ​ | ​ | 32,014
Equity in undistributed income of the Bank | ​ | ​ | 17,644 | ​ | ​ | 36,065 | ​ | ​ | (4,469)
NET INCOME | ​ | $ | 47,169 | ​ | $ | 47,180 | ​ | $ | 27,545
COMPREHENSIVE INCOME | ​ | $ | 26,800 | ​ | $ | 45,615 | ​ | $ | 30,745
Parent Company Condensed Statements of Cash Flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30,
(dollars in thousands) |  | 2022 |  | 2021 |  | 2020
Condensed Statements of Cash Flow | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash Flows from operating activities: | ​ | ​
Net income | ​ | $ | 47,169 | ​ | $ | 47,180 | ​ | $ | 27,545
Changes in: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in undistributed income of the Bank | ​ |  | (17,644) | ​ | ​ | (36,065) | ​ | ​ | 4,469
Other adjustments, net | ​ | ​ | (698) | ​ | ​ | (559) | ​ | ​ | (904)
NET CASH PROVIDED BY OPERATING ACTIVITES | ​ | ​ | 28,827 | ​ | ​ | 10,556 | ​ | ​ | 31,110
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investments in Bank subsidiaries | ​ | ​ | (8,024) | ​ | ​ | — | ​ | ​ | (20,463)
NET CASH USED IN INVESTING ACTIVITIES | ​ | ​ | (8,024) | ​ | ​ | — | ​ | ​ | (20,463)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from financing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends on common stock | ​ | ​ | (7,194) | ​ | ​ | (5,598) | ​ | ​ | (5,513)
Exercise of stock options | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 64
Payments to acquire treasury stock | ​ | ​ | (5,838) | ​ | ​ | (8,341) | ​ | ​ | (5,771)
Repayments of long term debt | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (3,000)
NET CASH USED IN FINANCING ACTIVITIES | ​ | ​ | (13,032) | ​ | ​ | (13,939) | ​ | ​ | (14,220)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net increase (decrease) in cash and cash equivalents | ​ | ​ | 7,771 | ​ | ​ | (3,383) | ​ | ​ | (3,573)
Cash and cash equivalents at beginning of year | ​ | ​ | 1,193 | ​ | ​ | 4,576 | ​ | ​ | 8,149
CASH AND CASH EQUIVALENTS AT END OF YEAR | ​ | $ | 8,964 | ​ | $ | 1,193 | ​ | $ | 4,576

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