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Income Taxes | 6 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Income Taxes | INCOME TAXES The following table presents a reconciliation between the reported income taxes for the periods presented and the income taxes which would be computed by applying the federal income tax rate of 21% to income for the three months and six months ended December 31, 2022 and 2021:
| Three Months Ended December 31, |  | Six Months Ended December 31,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (Dollars in Thousands) |  | (Dollars in Thousands)
Income before income taxes | $ | 1,984 |  |  | $ | 25,570 |  |  | $ | 23,774 |  |  | $ | 52,557 |
Statutory federal tax rate | 21 | % |  | 21 | % |  | 21 | % |  | 21 | %
Federal income tax expense at statutory rate | $ | 417 |  |  | $ | 5,370 |  |  | $ | 4,993 |  |  | $ | 11,037 |
(Reduction) increase in income taxes resulting from: |  |  |  |  |  |  |
Tax exempt interest | (46) |  |  | (68) |  |  | (105) |  |  | (138) |
State tax, net of federal tax effect | (124) |  |  | 1,990 |  |  | 1,296 |  |  | 4,118 |
Incentive stock option compensation expense | 3 |  |  | 16 |  |  | 6 |  |  | 39 |
Income from bank-owned life insurance | (362) |  |  | (328) |  |  | (1,137) |  |  | (656) |
Other items, net | 145 |  |  | (179) |  |  | 235 |  |  | (327) |
Total income tax expense | $ | 33 |  |  | $ | 6,801 |  |  | $ | 5,288 |  |  | $ | 14,073 |
Effective income tax rate | 1.66 | % |  | 26.60 | % |  | 22.24 | % |  | 26.78 | %

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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