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v3.25.3

Available for Sale Securities | 3 Months Ended
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Sep. 30, 2025
Available for Sale Securities |
Available for Sale Securities | Note 3: Available for Sale Securities The amortized cost, gross unrealized gains, gross unrealized losses, ACL, and approximate fair value of securities available for sale consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2025
​ |  | ​ | ​ |  | Gross |  | Gross |  | Allowance | ​ | Estimated
​ |  | Amortized |  | Unrealized |  | Unrealized |  | for |  | Fair
(dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Debt securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Obligations of states and political subdivisions | ​ | $ | 25,998 | ​ | $ | 49 | ​ | $ | (1,163) | ​ | $ | — | ​ | $ | 24,884
Corporate obligations | ​ | ​ | 29,734 | ​ | ​ | 52 | ​ | ​ | (421) | ​ | ​ | — | ​ | ​ | 29,365
Asset-backed securities | ​ | ​ | 38,365 | ​ | ​ | 540 | ​ | ​ | (144) | ​ | ​ | — | ​ | ​ | 38,761
Other securities | ​ |  | 3,739 | ​ |  | 10 | ​ |  | (54) | ​ |  | — | ​ |  | 3,695
Total debt securities | ​ | ​ | 97,836 | ​ | ​ | 651 | ​ | ​ | (1,782) | ​ | ​ | — | ​ | ​ | 96,705
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mortgage-backed securities (MBS) and collateralized mortgage obligations (CMOs): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential MBS issued by governmental sponsored enterprises (GSEs) | ​ | ​ | 139,440 | ​ | ​ | 2,181 | ​ | ​ | (4,225) | ​ | ​ | — | ​ | ​ | 137,396
Commercial MBS issued by GSEs | ​ | ​ | 95,348 | ​ | ​ | 660 | ​ | ​ | (4,258) | ​ | ​ | — | ​ | ​ | 91,750
CMOs issued by GSEs | ​ | ​ | 131,924 | ​ | ​ | 601 | ​ | ​ | (4,521) | ​ | ​ | — | ​ | ​ | 128,004
Total MBS and CMOs | ​ |  | 366,712 | ​ |  | 3,442 | ​ |  | (13,004) | ​ |  | — | ​ | ​ | 357,150
Total AFS securities | ​ | $ | 464,548 | ​ | $ | 4,093 | ​ | $ | (14,786) | ​ | $ | — | ​ | $ | 453,855
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2025
​ |  | ​ | ​ |  | Gross |  | Gross | ​ | Allowance | ​ | Estimated
​ |  | Amortized |  | Unrealized |  | Unrealized |  | for |  | Fair
(dollars in thousands) |  | Cost |  | Gains |  | Losses |  | Credit Losses |  | Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Debt securities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Obligations of states and political subdivisions | ​ | $ | 26,030 | ​ | $ | 5 | ​ | $ | (1,772) | ​ | $ | — | ​ | $ | 24,263
Corporate obligations | ​ | ​ | 31,199 | ​ | ​ | 75 | ​ | ​ | (632) | ​ | ​ | — | ​ | ​ | 30,642
Asset-backed securities | ​ | ​ | 42,059 | ​ | ​ | 567 | ​ | ​ | (145) | ​ | ​ | — | ​ | ​ | 42,481
Other securities | ​ | ​ | 4,007 | ​ |  | 10 | ​ |  | (53) | ​ |  | — | ​ | ​ | 3,964
Total debt securities | ​ | ​ | 103,295 | ​ | ​ | 657 | ​ | ​ | (2,602) | ​ | ​ | — | ​ | ​ | 101,350
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mortgage-backed securities (MBS) and collateralized mortgage obligations (CMOs): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential MBS issued by governmental sponsored enterprises (GSEs) | ​ | ​ | 138,377 | ​ | ​ | 1,623 | ​ | ​ | (5,005) | ​ | ​ | — | ​ | ​ | 134,995
Commercial MBS issued by GSEs | ​ | ​ | 96,377 | ​ | ​ | 446 | ​ | ​ | (4,821) | ​ | ​ | — | ​ | ​ | 92,002
CMOs issued by GSEs | ​ | ​ | 137,346 | ​ | ​ | 402 | ​ | ​ | (5,251) | ​ | ​ | — | ​ | ​ | 132,497
Total MBS and CMOs | ​ |  | 372,100 | ​ |  | 2,471 | ​ |  | (15,077) | ​ |  | — | ​ |  | 359,494
Total AFS securities | ​ | $ | 475,395 | ​ | $ | 3,128 | ​ | $ | (17,679) | ​ | $ | — | ​ | $ | 460,844
​ The amortized cost and estimated fair value of available for sale securities, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2025
​ |  | Amortized |  | Estimated
(dollars in thousands) |  | Cost |  | Fair Value
Within one year | ​ | $ | 1,147 | ​ | $ | 1,146
After one year but less than five years | ​ |  | 25,985 | ​ |  | 25,836
After five years but less than ten years | ​ |  | 43,036 | ​ |  | 41,971
After ten years | ​ |  | 27,668 | ​ |  | 27,752
Total investment securities | ​ |  | 97,836 | ​ |  | 96,705
MBS and CMOs | ​ |  | 366,712 | ​ |  | 357,150
Total AFS securities | ​ | $ | 464,548 | ​ | $ | 453,855
​ The carrying value of investment and mortgage-backed securities pledged as collateral to secure public deposits amounted to $306.8 million and $294.3 million at September 30, 2025, and June 30, 2025, respectively. The securities pledged consisted of marketable securities, including $165.5 million and $151.6 million of MBS, $108.7 million and $109.8 million of CMOs, $29.4 million and $29.7 million of State and Political Subdivisions Obligations, and $3.3 million and $3.3 million of Other Securities at September 30, 2025, and June 30, 2025, respectively. The following tables show the gross unrealized losses and fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position for which an ACL has not been recorded at September 30, 2025, and June 30, 2025: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2025
​ |  | Less than 12 months |  | 12 months or more |  | Total
​ |  | ​ | ​ | ​ | Unrealized |  | ​ | ​ | ​ | Unrealized |  | ​ | ​ | ​ | Unrealized
(dollars in thousands) |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
Obligations of state and political subdivisions | ​ | $ | — | ​ | $ | — | ​ | $ | 16,511 | ​ | $ | 1,163 | ​ | $ | 16,511 | ​ | $ | 1,163
Corporate obligations | ​ | ​ | 4,511 | ​ | ​ | 15 | ​ | ​ | 11,990 | ​ | ​ | 407 | ​ | ​ | 16,501 | ​ | ​ | 422
Asset-backed securities | ​ | ​ | 1,994 | ​ | ​ | — | ​ | ​ | 839 | ​ | ​ | 143 | ​ | ​ | 2,833 | ​ | ​ | 143
Other securities | ​ | ​ | 12 | ​ | ​ | — | ​ | ​ | 3,316 | ​ | ​ | 54 | ​ | ​ | 3,328 | ​ | ​ | 54
MBS and CMOs | ​ |  | 10,993 | ​ |  | 140 | ​ |  | 165,317 | ​ |  | 12,864 | ​ |  | 176,310 | ​ |  | 13,004
Total AFS securities | ​ | $ | 17,510 | ​ | $ | 155 | ​ | $ | 197,973 | ​ | $ | 14,631 | ​ | $ | 215,483 | ​ | $ | 14,786
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2025
​ |  | Less than 12 months |  | 12 months or more |  | Total
​ |  | ​ | ​ | ​ | Unrealized |  | ​ | ​ | ​ | Unrealized |  | ​ | ​ | ​ | Unrealized
(dollars in thousands) |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
Obligations of state and political subdivisions | ​ | $ | 4,882 | ​ | $ | 84 | ​ | $ | 15,807 | ​ | $ | 1,688 | ​ | $ | 20,689 | ​ | $ | 1,772
Corporate obligations | ​ | ​ | 1,936 | ​ | ​ | 6 | ​ | ​ | 18,194 | ​ | ​ | 626 | ​ | ​ | 20,130 | ​ | ​ | 632
Asset-backed securities | ​ | ​ | 3,281 | ​ | ​ | 2 | ​ | ​ | 839 | ​ | ​ | 143 | ​ | ​ | 4,120 | ​ | ​ | 145
Other securities | ​ | ​ | 15 | ​ | ​ | — | ​ | ​ | 3,578 | ​ | ​ | 53 | ​ | ​ | 3,593 | ​ | ​ | 53
MBS and CMOs | ​ |  | 57,829 | ​ |  | 465 | ​ |  | 158,105 | ​ |  | 14,612 | ​ |  | 215,934 | ​ |  | 15,077
Total AFS securities | ​ | $ | 67,943 | ​ | $ | 557 | ​ | $ | 196,523 | ​ | $ | 17,122 | ​ | $ | 264,466 | ​ | $ | 17,679
​ The following information pertaining to unrealized losses and ACL on securities, by security type, is presented as of September 30, 2025. Obligations of state and political subdivisions. The unrealized losses on the Company’s investments in obligations of state and political subdivisions include no individual securities which have been in an unrealized loss position for less than 12 months and 33 individual securities which have been in an unrealized loss position for more than 12 months. The securities are performing and are of high credit quality. The unrealized losses were caused by increases in market interest rates since purchase or acquisition. Because the Company does not intend to sell these securities and it is more likely than not that the Company will not be required to sell these securities prior to recovery of their amortized cost basis, which may be maturity, the Company has not recorded an ACL on these securities. Corporate and Other Obligations. The unrealized losses on the Company’s investments in corporate obligations include four securities which have been in an unrealized loss position for less than 12 months and 12 individual securities which have been in an unrealized loss position for more than 12 months. The securities are performing and are of high credit quality. The unrealized losses were caused by increases in market interest rates since purchase or acquisition. Because the Company does not intend to sell these securities and it is more likely than not that the Company will not be required to sell these securities prior to recovery of their amortized cost basis, which may be maturity, the Company has not recorded an ACL on these securities. Asset-Backed Securities. The unrealized losses on the Company’s investments in asset-backed securities include two individual security which have been in an unrealized loss position for less than 12 months and two individual securities which have been in an unrealized loss position for more than 12 months. The securities are performing and are of high credit quality. The unrealized loss was caused by variations in market interest rates since purchase or acquisition. Because the Company does not intend to sell these securities and it is more likely than not that the Company will not be required to sell these securities prior to recovery of their amortized cost basis, which may be maturity, the Company has not recorded an ACL on these securities. MBS and CMOs. The unrealized losses on the Company’s investments in MBS and CMOs include three individual securities which have been in an unrealized loss position for less than 12 months, and 109 individual securities which have been in an unrealized loss position for 12 months or more. The securities are performing and are of high credit quality. The unrealized losses were caused by increases in market interest rates since purchase or acquisition. Because the Company does not intend to sell these securities and it is more likely than not that the Company will not be required to sell these securities prior to recovery of their amortized cost basis, which may be maturity, the Company has not recorded an ACL on these securities. The Company does not believe that any individual unrealized loss as of September 30, 2025, is the result of a credit loss. However, the Company could be required to recognize an ACL in future periods with respect to its available for sale investment securities portfolio. Credit Losses Recognized on Investments. There were no credit losses recognized in income and other losses or recorded in other comprehensive loss for the three-month periods ended September 30, 2025, and 2024.

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