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Loans Receivable (Tables)
 12 Months Ended
Jun. 30, 2023
Receivables [Abstract]  
Schedule of Loans Receivable
The following table sets forth the composition of the Company’s loan portfolio at June 30, 2023 and 2022:
June 30,
2023		June 30,
2022
(In Thousands)
Commercial loans:
Multi-family mortgage$2,761,775 $2,409,090 
Nonresidential mortgage968,574 1,019,838 
Commercial business146,861 176,807 
Construction226,609 140,131 
Total commercial loans4,103,819 3,745,866 
One- to four-family residential mortgage1,700,559 1,645,816 
Consumer loans:
Home equity loans43,549 42,028 
Other consumer2,549 2,866 
Total consumer loans46,098 44,894 
Total loans5,850,476 5,436,576 
Unaccreted yield adjustments (1)
(21,055)(18,731)
Total loans receivable, net of yield adjustments$5,829,421 $5,417,845 
___________________________
(1)At June 30, 2023, included a fair value adjustment to the carrying amount of hedged one- to four-family residential mortgage loans.
Contractual Payment Status of Past Loans Receivable The following tables present the payment status of past due loans as of June 30, 2023 and 2022, by loan segment:
Payment Status
June 30, 2023
30-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(In Thousands)
Multi-family mortgage$2,958 $— $10,756 $13,714 $2,748,061 $2,761,775 
Nonresidential mortgage792 — 8,233 9,025 959,549 968,574 
Commercial business528 16 236 780 146,081 146,861 
Construction— — — — 226,609 226,609 
One- to four-family residential mortgage2,019 1,202 3,731 6,952 1,693,607 1,700,559 
Home equity loans25 — 50 75 43,474 43,549 
Other consumer— — — — 2,549 2,549 
Total loans$6,322 $1,218 $23,006 $30,546 $5,819,930 $5,850,476 
Payment Status
June 30, 2022
30-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(In Thousands)
Multi-family mortgage$3,148 $3,056 $7,788 $13,992 $2,395,098 $2,409,090 
Nonresidential mortgage4,026 — 18,132 22,158 997,680 1,019,838 
Commercial business98 57 155 310 176,497 176,807 
Construction— — — — 140,131 140,131 
One- to four-family residential mortgage1,525 253 3,455 5,233 1,640,583 1,645,816 
Home equity loans28 35 — 63 41,965 42,028 
Other consumer— — — — 2,866 2,866 
Total loans$8,825 $3,401 $29,530 $41,756 $5,394,820 $5,436,576 
Performance Status of Loans Receivable
The following tables present information relating to the Company’s nonperforming loans as of June 30, 2023 and 2022:
Performance Status
June 30, 2023
90 Days and Over Past Due AccruingNonaccrual Loans with Allowance for
Credit Losses		Nonaccrual Loans with no Allowance for
Credit Losses		Total NonperformingPerformingTotal
(In Thousands)
Multi-family mortgage$— $5,686 $13,428 $19,114 $2,742,661 $2,761,775 
Nonresidential mortgage— 11,815 4,725 16,540 952,034 968,574 
Commercial business— 71 181 252 146,609 146,861 
Construction— — — — 226,609 226,609 
One- to four-family residential mortgage— 1,640 5,031 6,671 1,693,888 1,700,559 
Home equity loans— — 50 50 43,499 43,549 
Other consumer— — — — 2,549 2,549 
Total loans$— $19,212 $23,415 $42,627 $5,807,849 $5,850,476 
Performance Status
June 30, 2022
90 Days and Over Past Due AccruingNonaccrual Loans with Allowance for
Credit Losses		Nonaccrual Loans with no Allowance for
Credit Losses		Total NonperformingPerformingTotal
(In Thousands)
Multi-family mortgage$— $8,367 $18,286 $26,653 $2,382,437 $2,409,090 
Nonresidential mortgage— 12,602 19,292 31,894 987,944 1,019,838 
Commercial business— 212 81 293 176,514 176,807 
Construction— — 1,561 1,561 138,570 140,131 
One- to four-family residential mortgage— 3,543 4,946 8,489 1,637,327 1,645,816 
Home equity loans— 302 1,129 1,431 40,597 42,028 
Other consumer— — — — 2,866 2,866 
Total loans$— $25,026 $45,295 $70,321 $5,366,255 $5,436,576 
Troubled Debt Restructurings of Loans Receivable
The following tables present total TDRs at June 30, 2023 and 2022:
June 30, 2023
AccrualNon-accrualTotal
# of LoansAmount# of LoansAmount# of LoansAmount
(Dollars In Thousands)
Commercial loans:
Multi-family mortgage—$— 2$5,400 2$5,400 
Nonresidential mortgage3170 2700 5870 
Commercial business63,197 —— 63,197 
Construction—— —— —— 
Total commercial loans93,367 46,100 139,467 
One- to four-family residential mortgage396,752 4774 437,526 
Consumer loans:
Home equity loans6368 —— 6368 
Total54$10,487 8$6,874 62$17,361 
June 30, 2022
AccrualNon-accrualTotal
# of LoansAmount# of LoansAmount# of LoansAmount
(Dollars In Thousands)
Commercial loans:
Multi-family mortgage—$— 2$5,626 2$5,626 
Nonresidential mortgage4389 21,565 61,954 
Commercial business53,631 282 73,713 
Construction—— 11,561 11,561 
Total commercial loans94,020 78,834 1612,854 
One- to four-family residential mortgage294,488 163,314 457,802 
Consumer loans:
Home equity loans5164 21,364 71,528 
Total43$8,672 25$13,512 68$22,184 
The following table presents information regarding TDRs that occurred during the years ended June 30, 2023 and 2022:
Year Ended June 30, 2023Year Ended June 30, 2022
# of LoansPre-modification
Recorded
Investment		Post-modification
Recorded
Investment		# of LoansPre-modification
Recorded
Investment		Post-modification
Recorded
Investment
(Dollars In Thousands)
Multi-family mortgage—$— $— 2$12,091 $12,073 
Nonresidential mortgage1313 345 —— — 
Commercial business274 74 —— — 
One- to four-family residential mortgage2708 705 133,812 3,924 
Home equity loans135 35 21,477 1,477 
Total6$1,130 $1,159 17$17,380 $17,474 
Carrying Value of Collateral Dependent Individually Analyzed Loans
The following table presents the carrying value and related allowance of collateral dependent individually analyzed loans at the dates indicated:
June 30, 2023June 30, 2022
Carrying ValueRelated AllowanceCarrying ValueRelated Allowance
(In Thousands)
Commercial loans:
Multi-family mortgage$19,114 $326 $26,653 $849 
Nonresidential mortgage (1)
16,207 3,001 30,733 2,696 
Construction— — 1,561 — 
Total commercial loans35,321 3,327 58,947 3,545 
One- to four-family residential mortgage (2)
2,875 — 4,305 77 
Consumer loans:
Home equity loans (2)
— — 35 — 
Total$38,196 $3,327 $63,287 $3,622 
________________________________________
(1)Secured by income-producing nonresidential property.
(2)Secured by one- to four-family residential properties.
Credit-Rating Classification of Loans Receivable
The following table presents the risk category of loans as of June 30, 2023 by loan segment and vintage year:
Term Loans by Origination Year for Fiscal Years ended June 30,Revolving Loans
20232022202120202018PriorTotal
(In Thousands)
Multi-family mortgage:
Pass$603,260 $954,554 $213,482 $198,969 $226,929 $510,485 $— $2,707,679 
Special Mention— — — — 6,006 6,647 — 12,653 
Substandard— — 9,809 — 9,432 22,202 — 41,443 
Doubtful— — — — — — — — 
Total multi-family mortgage603,260 954,554 223,291 198,969 242,367 539,334 — 2,761,775 
Nonresidential mortgage:
Pass109,725 220,443 83,032 51,933 59,197 414,742 6,000 945,072 
Special Mention— — — — — 378 — 378 
Substandard— — 708 — 919 21,497 — 23,124 
Doubtful— — — — — — — — 
Total nonresidential mortgage109,725 220,443 83,740 51,933 60,116 436,617 6,000 968,574 
Commercial business:
Pass10,364 28,644 25,304 7,875 1,731 8,776 59,031 141,725 
Special Mention— — — 47 176 2,456 371 3,050 
Substandard— — — 395 60 1,385 246 2,086 
Doubtful— — — — — — — — 
Total commercial business10,364 28,644 25,304 8,317 1,967 12,617 59,648 146,861 
Construction loans:
Pass25,070 36,389 143,086 12,275 2,961 1,093 5,735 226,609 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total construction loans25,070 36,389 143,086 12,275 2,961 1,093 5,735 226,609 
Residential mortgage:
Pass195,521 454,504 491,460 80,431 45,741 422,472 — 1,690,129 
Special Mention— — — — 1,168 425 — 1,593 
Substandard— 542 — — 80 8,215 — 8,837 
Doubtful— — — — — — — — 
Total residential mortgage195,521 455,046 491,460 80,431 46,989 431,112 — 1,700,559 
Home equity loans:
Pass7,682 2,567 607 1,264 2,478 7,280 21,384 43,262 
Special Mention— — — — — — — — 
Substandard— — — — — 287 — 287 
Doubtful— — — — — — — — 
Total home equity loans7,682 2,567 607 1,264 2,478 7,567 21,384 43,549 
Other consumer loans
Pass367 247 110 494 302 912 42 2,474 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — 75 75 
Other consumer loans367 247 110 494 302 912 117 2,549 
Total loans$951,989 $1,697,890 $967,598 $353,683 $357,180 $1,429,252 $92,884 $5,850,476 
The following table presents the risk category of loans as of June 30, 2022 by loan segment and vintage year:
Term Loans by Origination Year for Fiscal Years ended June 30,Revolving Loans
20222021202020182017PriorTotal
(In Thousands)
Multi-family mortgage:
Pass$963,263 $250,385 $211,101 $264,174 $248,058 $438,642 $— $2,375,623 
Special Mention— — — — — 6,814 — 6,814 
Substandard— — — 9,821 5,935 10,897 — 26,653 
Doubtful— — — — — — — — 
Total multi-family mortgage963,263 250,385 211,101 273,995 253,993 456,353 — 2,409,090 
Nonresidential mortgage:
Pass231,777 87,309 53,983 60,714 49,285 491,849 6,052 980,969 
Special Mention— — — — — 591 — 591 
Substandard— 720 — 933 4,026 32,599 — 38,278 
Doubtful— — — — — — — — 
Total nonresidential mortgage231,777 88,029 53,983 61,647 53,311 525,039 6,052 1,019,838 
Commercial business:
Pass46,888 38,791 12,155 3,581 4,861 6,455 58,662 171,393 
Special Mention— — 62 186 2,173 873 215 3,509 
Substandard— 38 319 — 1,347 61 58 1,823 
Doubtful— — — — — 80 2 82 
Total commercial business46,888 38,829 12,536 3,767 8,381 7,469 58,937 176,807 
Construction loans:
Pass16,407 95,526 10,337 3,039 6,509 1,017 5,735 138,570 
Special Mention— — — — — — — — 
Substandard— — — — — 1,561 — 1,561 
Doubtful— — — — — — — — 
Total construction loans16,407 95,526 10,337 3,039 6,509 2,578 5,735 140,131 
Residential mortgage:
Pass472,160 524,163 88,645 49,316 55,139 442,517 374 1,632,314 
Special Mention— — — 1,205 — 621 — 1,826 
Substandard— — — 83 — 11,593 — 11,676 
Doubtful— — — — — — — — 
Total residential mortgage472,160 524,163 88,645 50,604 55,139 454,731 374 1,645,816 
Home equity loans:
Pass3,197 692 1,681 3,117 2,027 7,321 22,334 40,369 
Special Mention— — — — — — — — 
Substandard— — — 120 — 1,539 — 1,659 
Doubtful— — — — — — — — 
Total home equity loans3,197 692 1,681 3,237 2,027 8,860 22,334 42,028 
Other consumer loans
Pass442 308 471 375 258 895 34 2,783 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — 83 83 
Other consumer loans442 308 471 375 258 895 117 2,866 
Total loans$1,734,134 $997,932 $378,754 $396,664 $379,618 $1,455,925 $93,549 $5,436,576 
Schedule Of Purchase Credit Deterioration Loan Carrying Amount The carrying amount of those loans is as follows:
At July 10, 2020
(In Thousands)
Purchase price of PCD loans at acquisition$65,347 
Allowance for credit losses at acquisition3,901 
Non-credit discount at acquisition167 
Par value of acquired PCD loans at acquisition$69,415