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Benefit Plans
6 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Benefit Plans BENEFIT PLANS
Components of Net Periodic Expense
The following table sets forth the aggregate net periodic benefit expense for the Bank’s Benefit Equalization Plan, Postretirement Welfare Plan, Directors’ Consultation and Retirement Plan, Atlas Bank Retirement Income Plan and Supplemental Executive Retirement Plan:
Three Months Ended
December 31,
Six Months Ended
December 31,
Affected Line Item in the Consolidated Statements of Income
2022202120222021
(In Thousands)
Service cost$117 $138 $234 $276 Salaries and employee benefits
Interest cost96 69 192 138 Other expense
(Accretion) amortization of unrecognized (gain) loss(6)20 (12)40 Other expense
Expected return on assets(25)(28)(50)(56)Other expense
Net periodic benefit cost$182 $199 $364 $398 
2021 Equity Incentive Plan
During the six months ended December 31, 2022, the Company granted 323,218 restricted stock units (“RSUs”) comprised of 238,121 service-based RSUs and 85,097 performance-based RSUs. The service-based RSUs will vest in three tranches over a period of three years and the performance-based RSUs will cliff vest upon the achievement of performance measures over the three-year period ending June 30, 2025. The number of performance-based RSUs that will vest, if any, will depend on whether, and to what extent, the performance measures are achieved. Common stock will be issued from authorized shares upon the vesting of the RSUs.