Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Sep. 30, 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 September 30, 2019 and June 30, 2019:

	September 30, 2019
	Asset Derivatives			Liability Derivatives
	Location	Fair Value		Location	Fair Value
	(In Thousands)
Derivatives designated as hedging instruments:
Interest rate swaps	Other assets	$	1,012	Other liabilities	$	369
Interest rate caps	Other assets		1,418	Other liabilities		-
Total		$	2,430		$	369

	June 30, 2019
	Asset Derivatives			Liability Derivatives
	Location	Fair Value		Location	Fair Value
	(In Thousands)
Derivatives designated as hedging instruments:
Interest rate swaps	Other assets	$	3,856	Other liabilities	$	140
Total		$	3,856		$	140

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 months ended September 30, 2019 and 2018:

	Three Months Ended September 30, 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	$	(1,702	)	Interest expense	$	1,371
Interest rate caps		(57	)	Interest expense		-
Total	$	(1,759	)		$	1,371

	Three Months Ended September 30, 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	$	3,079	Interest expense	$	1,236
Total	$	3,079		$	1,236

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 September 30, 2019 and June 30, 2019, 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.

	September 30, 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	$	2,716	$	(1,704	)	$	1,012	$	-	$	-		$	1,012
Interest rate caps		1,418		-			1,418		-		-			1,418
Total	$	4,134	$	(1,704	)	$	2,430	$	-	$	-		$	2,430


								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	$	2,073	$	(1,704	)	$	369	$	-	$	(150	)	$	219
Total	$	2,073	$	(1,704	)	$	369	$	-	$	(150	)	$	219

	June 30, 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	$	5,334	$	(1,478	)	$	3,856	$	-	$	-	$	3,856
Total	$	5,334	$	(1,478	)	$	3,856	$	-	$	-	$	3,856

								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	$	1,618	$	(1,478	)	$	140	$	-	$	-	$	140
Total	$	1,618	$	(1,478	)	$	140	$	-	$	-	$	140