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Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

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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Schedule of offsetting derivatives.

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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

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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

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