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Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended
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Mar. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Fair Values of Derivative Financial Instruments as well as Their Classification on Statement of Financial Condition | The tables below present the fair value of the Company’s derivative financial instruments as well as their classification on the Statement of Financial Condition as of March 31, 2019 and June 30, 2018:
| March 31, 2019 |
| Asset Derivatives |  |  | Liability Derivatives |
| Location |  | Fair Value |  |  | Location |  | Fair Value |
| (In Thousands) |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | Other assets |  | $ | 14,968 |  |  | Other liabilities |  | $ | - |
Total |  |  | $ | 14,968 |  |  |  |  | $ | - |
| June 30, 2018 |
| Asset Derivatives |  |  | Liability Derivatives |
| Location |  | Fair Value |  |  | Location |  | Fair Value |
| (In Thousands) |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | Other assets |  | $ | 31,881 |  |  | Other liabilities |  | $ | - |
Total |  |  | $ | 31,881 |  |  |  |  | $ | - |
Pre-tax Effects of Derivative Instruments on Consolidated Statements of Income and Comprehensive Income | The tables below present the pre-tax effects of the Company’s derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended March 31, 2019 and 2018:
| Three Months Ended March 31, 2019 |
| Amount of Gain (Loss) Recognized in OCI on Derivatives |  |  | Location of Gain (Loss) Reclassified from Accumulated OCI into Income |  | Amount of Gain (Loss) Reclassified from Accumulated OCI into Income |
| (In Thousands) |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | (4,982 | ) |  | Interest expense |  | $ | 2,159 |
Total | $ | (4,982 | ) |  |  |  | $ | 2,159 |
| Nine Months Ended March 31, 2019 |
| Amount of Gain (Loss) Recognized in OCI on Derivatives |  |  | Location of Gain (Loss) Reclassified from Accumulated OCI into Income |  | Amount of Gain (Loss) Reclassified from Accumulated OCI into Income |
| (In Thousands) |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | (12,058 | ) |  | Interest expense |  | $ | 4,855 |
Total | $ | (12,058 | ) |  |  |  | $ | 4,855 |
| Three Months Ended March 31, 2018 |
| Amount of Gain (Loss) Recognized in OCI on Derivatives |  |  | Location of Gain (Loss) Reclassified from Accumulated OCI into Income |  | Amount of Gain (Loss) Reclassified from Accumulated OCI into Income |
| (In Thousands) |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 11,672 |  |  | Interest expense |  | $ | (352 | )
Interest rate caps |  | 50 |  |  | Interest expense |  |  | (247 | )
Total | $ | 11,722 |  |  |  |  | $ | (599 | )
| Nine Months Ended March 31, 2018 |
| Amount of Gain (Loss) Recognized in OCI on Derivatives |  |  | Location of Gain (Loss) Reclassified from Accumulated OCI into Income |  | Amount of Gain (Loss) Reclassified from Accumulated OCI into Income |
| (In Thousands) |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 18,099 |  |  | Interest expense |  | $ | (2,475 | )
Interest rate caps |  | 77 |  |  | Interest expense |  |  | (806 | )
Total | $ | 18,176 |  |  |  |  | $ | (3,281 | )
Offsetting Derivatives | The tables below present a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives in the Consolidated Statements of Financial Condition as of March 31, 2019 and June 30, 2018, respectively. The net amounts presented for derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the Consolidated Statements of Financial Condition.
| March 31, 2019 |
|  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset |  |  |  |  |
| Gross Amount Recognized |  |  | Gross Amounts Offset |  |  | Net Amounts Presented |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
| (In Thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 15,204 |  |  | $ | (236 | ) |  | $ | 14,968 |  |  | $ | - |  |  | $ | (14,968 | ) |  | $ | - |
Total | $ | 15,204 |  |  | $ | (236 | ) |  | $ | 14,968 |  |  | $ | - |  |  | $ | (14,968 | ) |  | $ | - |
|  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset |  |  |  |  |
| Gross Amount Recognized |  |  | Gross Amounts Offset |  |  | Net Amounts Presented |  |  | Financial Instruments |  |  | Cash Collateral Posted |  |  | Net Amount |
| (In Thousands) |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 236 |  |  | $ | (236 | ) |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Total | $ | 236 |  |  | $ | (236 | ) |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
| June 30, 2018 |
|  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset |  |  |  |  |
| Gross Amount Recognized |  |  | Gross Amounts Offset |  |  | Net Amounts Presented |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
| (In Thousands) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 31,881 |  |  | $ | - |  |  | $ | 31,881 |  |  | $ | - |  |  | $ | (31,620 | ) |  | $ | 261 |
Total | $ | 31,881 |  |  | $ | - |  |  | $ | 31,881 |  |  | $ | - |  |  | $ | (31,620 | ) |  | $ | 261 |
|  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset |  |  |  |  |
| Gross Amount Recognized |  |  | Gross Amounts Offset |  |  | Net Amounts Presented |  |  | Financial Instruments |  |  | Cash Collateral Posted |  |  | Net Amount |
| (In Thousands) |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Total | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |

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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
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