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v3.23.2

Condensed Parent Company Only Financial Statements (Tables) | 12 Months Ended
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Jun. 30, 2023
Condensed Parent Company Only Financial Statements |
Parent Company Condensed Balance Sheets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30,
(dollars in thousands) | ​ | 2023 |  | 2022
Condensed Balance Sheets | ​ | ​
Assets | ​ | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 13,442 | ​ | $ | 8,964
Other assets | ​ | ​ | 52,178 | ​ | ​ | 28,691
Investment in common stock of Bank | ​ | ​ | 404,247 | ​ | ​ | 306,549
TOTAL ASSETS | ​ | $ | 469,867 | ​ | $ | 344,204
​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities and Stockholders' Equity | ​ | ​ |  | ​ | ​ |
Accrued expenses and other liabilities | ​ | $ | 704 | ​ | $ | 377
Subordinated debt | ​ | ​ | 23,105 | ​ | ​ | 23,055
TOTAL LIABILITIES | ​ | ​ | 23,809 | ​ | ​ | 23,432
Stockholders' equity | ​ | ​ | 446,058 | ​ | ​ | 320,772
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | ​ | $ | 469,867 | ​ | $ | 344,204
Parent Company Condensed Statements of Income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30,
(dollars in thousands) | ​ | 2023 | ​ | 2022 |  | 2021
Condensed Statements of Income | ​ | ​
Interest income | ​ | $ | 32 | ​ | $ | 14 | ​ | $ | 13
Interest expense | ​ |  | 1,439 | ​ | ​ | 686 | ​ | ​ | 534
Net interest expense | ​ |  | (1,407) | ​ | ​ | (672) | ​ | ​ | (521)
Dividends from Bank | ​ | ​ | 48,000 | ​ | ​ | 31,000 | ​ | ​ | 12,000
Operating expenses | ​ | ​ | 3,041 | ​ | ​ | 1,124 | ​ | ​ | 599
Income before income taxes and equity in undistributed income of the Bank | ​ | ​ | 43,552 | ​ | ​ | 29,204 | ​ | ​ | 10,880
Income tax benefit | ​ | ​ | 552 | ​ | ​ | 321 | ​ | ​ | 235
Income before equity in undistributed income of the Bank | ​ | ​ | 44,104 | ​ | ​ | 29,525 | ​ | ​ | 11,115
Equity in undistributed income of the Bank | ​ | ​ | (4,867) | ​ | ​ | 17,644 | ​ | ​ | 36,065
NET INCOME | ​ | $ | 39,237 | ​ | $ | 47,169 | ​ | $ | 47,180
COMPREHENSIVE INCOME | ​ | $ | 34,799 | ​ | $ | 26,800 | ​ | $ | 45,615
Parent Company Condensed Statements of Cash Flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30,
(dollars in thousands) |  | 2023 |  | 2022 |  | 2021
Condensed Statements of Cash Flow | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash Flows from operating activities: | ​ | ​
Net income | ​ | $ | 39,237 | ​ | $ | 47,169 | ​ | $ | 47,180
Changes in: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
Equity in undistributed income of the Bank | ​ |  | 4,867 | ​ | ​ | (17,644) | ​ | ​ | (36,065)
Other adjustments, net | ​ | ​ | 388 | ​ | ​ | (698) | ​ | ​ | (559)
NET CASH PROVIDED BY OPERATING ACTIVITES | ​ | ​ | 44,492 | ​ | ​ | 28,827 | ​ | ​ | 10,556
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investments in Bank subsidiaries | ​ | ​ | (31,382) | ​ | ​ | (8,024) | ​ | ​ | —
NET CASH USED IN INVESTING ACTIVITIES | ​ | ​ | (31,382) | ​ | ​ | (8,024) | ​ | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash flows from financing activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dividends on common stock | ​ | ​ | (8,632) | ​ | ​ | (7,194) | ​ | ​ | (5,598)
Payments to acquire treasury stock | ​ | ​ | — | ​ | ​ | (5,838) | ​ | ​ | (8,341)
NET CASH USED IN FINANCING ACTIVITIES | ​ | ​ | (8,632) | ​ | ​ | (13,032) | ​ | ​ | (13,939)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net increase (decrease) in cash and cash equivalents | ​ | ​ | 4,478 | ​ | ​ | 7,771 | ​ | ​ | (3,383)
Cash and cash equivalents at beginning of year | ​ | ​ | 8,964 | ​ | ​ | 1,193 | ​ | ​ | 4,576
CASH AND CASH EQUIVALENTS AT END OF YEAR | ​ | $ | 13,442 | ​ | $ | 8,964 | ​ | $ | 1,193

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