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Loan Quality and Allowance for Loan Losses (Tables)

9 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Allowance for Loan Losses and Balance of Loans Receivable

The following tables present the balance of the allowance for loan losses at March 31, 2019 and June 30, 2018 based upon the calculation methodology as described in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018. The tables identify the valuation allowances attributable to specifically identified impairments on individually evaluated loans, including those acquired with deteriorated credit quality, as well as valuation allowances for impairments on loans evaluated collectively. The tables include the underlying balance of loans receivable applicable to each category as of those dates as well as the activity in the allowance for loan losses for the three and nine months ended March 31, 2019 and March 31, 2018. Unless otherwise noted, the balance of loans reported in the tables below excludes yield adjustments and the allowance for loan loss.

Allowance for Loan Losses
At March 31, 2019
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Balance of allowance for loan losses:
Loans acquired with deteriorated   credit quality	$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Loans individually   evaluated for impairment		36				-				-				-				282				-				-				318
Loans collectively   evaluated for impairment		3,079				17,012				9,575				149				2,282				489				201				32,787
Total allowance for loan losses	$	3,115			$	17,012			$	9,575			$	149			$	2,564			$	489			$	201			$	33,105

Balance of Loans Receivable
At March 31, 2019
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Balance of loans receivable:
Loans acquired with deteriorated   credit quality	$	90			$	-			$	-			$	-			$	250			$	-			$	-			$	340
Loans individually   evaluated for impairment		13,446				81				8,956				-				1,625				1,525				-				25,633
Loans collectively   evaluated for impairment		1,311,569				1,956,490				1,240,259				14,377				64,601				96,263				5,984				4,689,543
Total loans	$	1,325,105			$	1,956,571			$	1,249,215			$	14,377			$	66,476			$	97,788			$	5,984			$	4,715,516
Unaccreted yield   adjustments																														(55,712	)
Loans receivable, net of    yield adjustments																													$	4,659,804

Allowance for Loan Losses
At June 30, 2018
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Balance of allowance for loan losses:
Loans acquired with deteriorated   credit quality	$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Loans individually   evaluated for impairment		79				-				-				-				227				-				-				306
Loans collectively   evaluated for impairment		2,400				14,946				9,787				258				2,325				430				413				30,559
Total allowance for loan losses	$	2,479			$	14,946			$	9,787			$	258			$	2,552			$	430			$	413			$	30,865

Balance of Loans Receivable
At June 30, 2018
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Balance of loans receivable:
Loans acquired with deteriorated   credit quality	$	99			$	-			$	-			$	-			$	269			$	-			$	-				368
Loans individually   evaluated for impairment		11,931				116				5,344				-				3,921				1,601				-				22,913
Loans collectively   evaluated for impairment		1,285,423				1,758,468				1,297,617				23,271				81,635				89,160				9,060				4,544,634
Total loans	$	1,297,453			$	1,758,584			$	1,302,961			$	23,271			$	85,825			$	90,761			$	9,060			$	4,567,915
Unaccreted yield   adjustments																														(66,567	)
Loans receivable, net of    yield adjustments																													$	4,501,348

Allowance for Loan Losses
Three Months Ended March 31, 2019
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Changes in the allowance for loan   losses for the three months ended   March 31, 2019:
At December 31, 2018:	$	2,977			$	17,095			$	9,918			$	305			$	2,514			$	464			$	253			$	33,526
Total charge offs		-				-				-				-				(184	)			-				(76	)			(260	)
Total recoveries		-				-				-				-				-				-				18				18
Total provisions		138				(83	)			(343	)			(156	)			234				25				6				(179	)
Total allowance for loan losses	$	3,115			$	17,012			$	9,575			$	149			$	2,564			$	489			$	201			$	33,105

Allowance for Loan Losses
Nine Months Ended March 31, 2019
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Changes in the allowance for loan   losses for the nine months ended   March 31, 2019:
At June 30, 2018:	$	2,479			$	14,946			$	9,787			$	258			$	2,552			$	430			$	413			$	30,865
Total charge offs		(83	)			-				(54	)			-				(369	)			-				(215	)			(721	)
Total recoveries		-				-				2				-				-				-				67				69
Total provisions		719				2,066				(160	)			(109	)			381				59				(64	)			2,892
Total allowance for loan losses	$	3,115			$	17,012			$	9,575			$	149			$	2,564			$	489			$	201			$	33,105

Allowance for Loan Losses
Three Months Ended March 31, 2018
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Changes in the allowance for loan   losses for the three months ended   March 31, 2018:
At December 31, 2017:	$	2,440			$	13,909			$	9,665			$	246			$	2,706			$	457			$	643			$	30,066
Total charge offs		(61	)			-				(7	)			-				(89	)			(1	)			(167	)			(325	)
Total recoveries		-				-				-				-				55				-				29				84
Total provisions		75				101				227				7				14				(23	)			22				423
Total allowance for loan losses	$	2,454			$	14,010			$	9,885			$	253			$	2,686			$	433			$	527			$	30,248

Allowance for Loan Losses
Nine Months Ended March 31, 2018
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Changes in the allowance for loan   losses for the nine months ended   March 31, 2018:
At June 30, 2017:	$	2,384			$	13,941			$	9,939			$	35			$	1,709			$	501			$	777			$	29,286
Total charge offs		(471	)			-				(45	)			-				(95	)			(1	)			(727	)			(1,339	)
Total recoveries		77				-				-				-				89				65				81				312
Total provisions		464				69				(9	)			218				983				(132	)			396				1,989
Total allowance for loan losses	$	2,454			$	14,010			$	9,885			$	253			$	2,686			$	433			$	527			$	30,248

Credit-Rating Classification of Loans Receivable

The following tables present key indicators of credit quality regarding the Company’s loan portfolio based upon loan classification and contractual payment status at March 31, 2019 and June 30, 2018 based upon the methodology for identifying and reporting such loans as described in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018.

Credit-Rating Classification of Loans Receivable
At March 31, 2019
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Non-classified	$	1,309,368			$	1,955,366			$	1,239,718			$	14,377			$	59,966			$	96,171			$	5,939			$	4,680,905
Classified:
Special Mention		482				1,124				-				-				3,880				28				20				5,534
Substandard		15,255				81				9,497				-				2,630				1,589				25				29,077
Doubtful		-				-				-				-				-				-				-				-
Loss		-				-				-				-				-				-				-				-
Total classified loans		15,737				1,205				9,497				-				6,510				1,617				45				34,611
Total loans	$	1,325,105			$	1,956,571			$	1,249,215			$	14,377			$	66,476			$	97,788			$	5,984			$	4,715,516

Credit-Rating Classification of Loans Receivable
At June 30, 2018
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Non-classified	$	1,283,040			$	1,758,468			$	1,295,076			$	23,271			$	80,947			$	88,831			$	8,937			$	4,538,570
Classified:
Special Mention		493				-				-				-				13				25				61				592
Substandard		13,920				116				7,885				-				4,865				1,905				61				28,752
Doubtful		-				-				-				-				-				-				1				1
Loss		-				-				-				-				-				-				-				-
Total classified loans		14,413				116				7,885				-				4,878				1,930				123				29,345
Total loans	$	1,297,453			$	1,758,584			$	1,302,961			$	23,271			$	85,825			$	90,761			$	9,060			$	4,567,915

Contractual Payment Status of Loans Receivable

Contractual Payment Status of Loans Receivable
At March 31, 2019
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Current	$	1,318,191			$	1,956,571			$	1,247,238			$	14,377			$	65,614			$	97,539			$	5,922			$	4,705,452
Past due:
30-59 days		1,447				-				-				-				526				-				19				1,992
60-89 days		-				-				-				-				-				-				19				19
90+ days		5,467				-				1,977				-				336				249				24				8,053
Total past due		6,914				-				1,977				-				862				249				62				10,064
Total loans	$	1,325,105			$	1,956,571			$	1,249,215			$	14,377			$	66,476			$	97,788			$	5,984			$	4,715,516

Contractual Payment Status of Loans Receivable
At June 30, 2018
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Current	$	1,290,428			$	1,758,584			$	1,300,570			$	23,271			$	85,065			$	90,375			$	8,917			$	4,557,210
Past due:
30-59 days		1,457				-				1,015				-				247				104				24				2,847
60-89 days		475				-				-				-				-				44				59				578
90+ days		5,093				-				1,376				-				513				238				60				7,280
Total past due		7,025				-				2,391				-				760				386				143				10,705
Total loans	$	1,297,453			$	1,758,584			$	1,302,961			$	23,271			$	85,825			$	90,761			$	9,060			$	4,567,915

Performance Status of Loans Receivable

The following tables present information relating to the Company’s nonperforming and impaired loans at March 31, 2019 and June 30, 2018 based upon the methodology for identifying and reporting such loans as described in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2018. Loans reported as 90+ days past due accruing in the table immediately below are also reported in the preceding contractual payment status table under the heading 90+ days past due.

Performance Status of Loans Receivable
At March 31, 2019
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Performing	$	1,314,295			$	1,956,490			$	1,240,545			$	14,377			$	65,586			$	96,942			$	5,960			$	4,694,195
Nonperforming:
90+ days past due accruing		-				-				-				-				-				-				24				24
Nonaccrual		10,810				81				8,670				-				890				846				-				21,297
Total nonperforming		10,810				81				8,670				-				890				846				24				21,321
Total loans	$	1,325,105			$	1,956,571			$	1,249,215			$	14,377			$	66,476			$	97,788			$	5,984			$	4,715,516

Performance Status of Loans Receivable
At June 30, 2018
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Performing	$	1,288,261			$	1,758,468			$	1,297,621			$	23,271			$	84,587			$	89,848			$	9,000			$	4,551,056
Nonperforming:
90+ days past due accruing		-				-				-				-				-				-				60				60
Nonaccrual		9,192				116				5,340				-				1,238				913				-				16,799
Total nonperforming		9,192				116				5,340				-				1,238				913				60				16,859
Total loans	$	1,297,453			$	1,758,584			$	1,302,961			$	23,271			$	85,825			$	90,761			$	9,060			$	4,567,915

Impairment Status of Loans Receivable

Impairment Status of Loans Receivable
At March 31, 2019
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Carrying value of impaired loans:
Non-impaired loans	$	1,311,569			$	1,956,490			$	1,240,259			$	14,377			$	64,601			$	96,263			$	5,984			$	4,689,543
Impaired loans:
Impaired loans with no allowance   for impairment		13,133				81				8,956				-				1,593				1,525				-				25,288
Impaired loans with allowance   for impairment:
Recorded investment		403				-				-				-				282				-				-				685
Allowance for impairment		(36	)			-				-				-				(282	)			-				-				(318	)
Balance of impaired loans net   of allowance for impairment		367				-				-				-				-				-				-				367
Total impaired loans, excluding   allowance for impairment:		13,536				81				8,956				-				1,875				1,525				-				25,973
Total loans	$	1,325,105			$	1,956,571			$	1,249,215			$	14,377			$	66,476			$	97,788			$	5,984			$	4,715,516
Unpaid principal balance   of impaired loans:
Total impaired loans	$	18,617			$	930			$	12,266			$	106			$	5,350			$	2,758			$	-			$	40,027

Impairment Status of Loans Receivable
At June 30, 2018
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
Carrying value of impaired loans:
Non-impaired loans	$	1,285,423			$	1,758,468			$	1,297,617			$	23,271			$	81,635			$	89,160			$	9,060			$	4,544,634
Impaired loans:
Impaired loans with no allowance   for impairment		11,255				116				5,344				-				3,963				1,601				-				22,279
Impaired loans with allowance   for impairment:
Recorded investment		775				-				-				-				227				-				-				1,002
Allowance for impairment		(79	)			-				-				-				(227	)			-				-				(306	)
Balance of impaired loans net   of allowance for impairment		696				-				-				-				-				-				-				696
Total impaired loans, excluding   allowance for impairment:		12,030				116				5,344				-				4,190				1,601				-				23,281
Total loans	$	1,297,453			$	1,758,584			$	1,302,961			$	23,271			$	85,825			$	90,761			$	9,060			$	4,567,915
Unpaid principal balance   of impaired loans:
Total impaired loans	$	16,263			$	930			$	10,033			$	106			$	7,671			$	2,702			$	-			$	37,705

Impairment Status of Loans Receivable
Three and Nine Months Ended March 31, 2019 and 2018
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(In Thousands)
For the three months ended   March 31, 2019:
Average balance of impaired loans	$	13,766			$	86			$	8,750			$	-			$	2,143			$	1,540			$	-			$	26,285
Interest earned on impaired loans	$	32			$	-			$	-			$	-			$	19			$	9			$	-			$	60
For the nine months ended   March 31, 2019:
Average balance of impaired loans	$	13,014			$	97			$	8,039			$	-			$	2,352			$	1,556			$	-			$	25,058
Interest earned on impaired loans	$	97			$	-			$	-			$	-			$	48			$	26			$	-			$	171
For the three months ended   March 31, 2018:
Average balance of impaired loans	$	8,048			$	130			$	7,038			$	-			$	2,762			$	1,563			$	-			$	19,541
Interest earned on impaired loans	$	33			$	-			$	-			$	-			$	1			$	9			$	-			$	43
For the nine months ended   March 31, 2018:
Average balance of impaired loans	$	9,019			$	141			$	6,823			$	137			$	2,805			$	1,693			$	-			$	20,618
Interest earned on impaired loans	$	99			$	-			$	4			$	-			$	4			$	24			$	-			$	131

Troubled Debt Restructurings of Loans Receivable

The following table presents information regarding the restructuring of the Company’s troubled debts during the nine months ended March 31, 2019 and March 31, 2018, and any defaults during those periods of troubled debt restructurings (“TDRs”) that were restructured within 12 months of the date of default.  

Troubled Debt Restructurings of Loans Receivable
Nine Months Ended March 31, 2019
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(Dollars in Thousands)
Troubled debt restructuring activity   for the nine months ended   March 31, 2019:
Number of loans		5				-				1				-				6				-				-				12
Pre-modification outstanding   recorded investment	$	1,267			$	-			$	2,957			$	-			$	1,468			$	-			$	-			$	5,692
Post-modification outstanding   recorded investment		1,309				-				2,955				-				1,488				-				-				5,752
Reserves included in and charge offs against the allowance for loan loss recognized at modification		2				-				2				-				-				-				-				4
Troubled debt restructuring defaults   for the nine months ended   March 31, 2019:
Number of loans		-				-				-				-				-				-				-				-
Outstanding recorded investment	$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-

Troubled Debt Restructurings of Loans Receivable
Nine Months Ended March 31, 2018
	Residential Mortgage				Multi-Family Mortgage				Non- Residential Mortgage				Construction				Commercial Business				Home Equity Loans				Other Consumer				Total
	(Dollars in Thousands)
Troubled debt restructuring activity   for the nine months ended   March 31, 2018:
Number of loans		5				-				2				-				-				1				-				8
Pre-modification outstanding   recorded investment	$	1,521			$	-			$	315			$	-			$	-			$	72			$	-			$	1,908
Post-modification outstanding   recorded investment		1,813				-				330				-				-				71				-				2,214
Reserves included in and charge offs against the allowance for loan loss recognized at modification		145				-				7				-				-				1				-				153
Troubled debt restructuring defaults   for the nine months ended   March 31, 2018:
Number of loans		-				-				-				-				-				-				-				-
Outstanding recorded investment	$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-

X

- Definition

Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
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- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953659-111524

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 55
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=82894031&loc=SL6953803-111525

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- Definition

Tabular disclosure of impaired financing receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5212-111524

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X

- Definition

Tabular disclosure of financing receivables that are past due but not impaired, financing receivables that are 90 days past due and still accruing, and financing receivables on nonaccrual status.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7A
-URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953401-111524

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5111-111524

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X

- References

No definition available.

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X

- Definition

Tabular disclosure of nonaccrual and past due financing receivables (such as loans and trade receivables), including: (a) the recorded investment in loans and trade receivables, if applicable, on nonaccrual status as of each balance sheet date (b) the recorded investment in loans and trade receivables, if applicable, past due 90 days or more and still accruing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5111-111524

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X

- Definition

Tabular disclosure of financing receivables and troubled debt restructurings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953676-111524

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953682-111524

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