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Borrowings
12 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Borrowings Borrowings
Borrowings at June 30, 2023 and 2022 consisted of the following:
June 30,
2023
June 30,
2022
(In Thousands)
FHLB advances$1,281,812 $651,337 
Overnight borrowings(1)
225,000 250,000 
Total borrowings$1,506,812 $901,337 
________________________________________
(1)At June 30, 2023, represented $125.0 million of FHLB overnight line of credit borrowings and $100.0 million of unsecured overnight borrowings from other financial institutions. At June 30, 2022, represented FHLB overnight line of credit borrowings.
Fixed-rate advances from FHLB of New York mature as follows:
June 30, 2023June 30, 2022
Balance Weighted
Average
Interest Rate
Balance Weighted
Average
Interest Rate
(Dollars in Thousands)
By remaining period to maturity:
Less than one year$972,500 5.36 %$520,000 2.04 %
One to two years103,500 2.68 22,500 2.63 
Two to three years6,500 2.82 103,500 2.68 
Three to four years— — 6,500 2.82 
Four to five years200,000 3.98 — — 
Greater than five years— — — — 
Total advances1,282,500 4.92 %652,500 2.17 %
Unamortized fair value adjustments(688)(1,163)
Total advances, net of fair value adjustments$1,281,812 $651,337 
At June 30, 2023, FHLB advances and overnight line of credit borrowings were collateralized by the FHLB capital stock owned by the Bank and mortgage loans with carrying values totaling approximately $4.60 billion. At June 30, 2022, FHLB advances and overnight line of credit borrowings were collateralized by the FHLB capital stock owned by the Bank and mortgage loans and securities with carrying values totaling approximately $3.58 billion and $178.0 million, respectively.