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Fair Value of Financial Instruments (Tables) | 12 Months Ended
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Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis | Those assets measured at fair value on a recurring basis are summarized below:
| June 30, 2024
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
| (In Thousands)
Assets: |  |  |  |  |  |  |
Debt securities available for sale: |  |  |  |  |  |  |
Asset-backed securities | $ | — |  |  | $ | 80,440 |  |  | $ | — |  |  | $ | 80,440 |
Collateralized loan obligations | — |  |  | 389,543 |  |  | — |  |  | 389,543 |
Corporate bonds | — |  |  | 131,797 |  |  | — |  |  | 131,797 |
Total debt securities | — |  |  | 601,780 |  |  | — |  |  | 601,780 |
Mortgage-backed securities available for sale: |  |  |  |  |  |  |
Residential pass-through securities | — |  |  | 337,264 |  |  | — |  |  | 337,264 |
Commercial pass-through securities | — |  |  | 133,789 |  |  | — |  |  | 133,789 |
Total mortgage-backed securities | — |  |  | 471,053 |  |  | — |  |  | 471,053 |
Total securities available for sale | $ | — |  |  | $ | 1,072,833 |  |  | $ | — |  |  | $ | 1,072,833 |
Interest rate contracts | $ | — |  |  | $ | 54,362 |  |  | $ | — |  |  | $ | 54,362 |
Total assets | $ | — |  |  | $ | 1,127,195 |  |  | $ | — |  |  | $ | 1,127,195 |
| June 30, 2023
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
| (In Thousands)
Assets: |  |  |  |  |  |  |
Debt securities available for sale: |  |  |  |  |  |  |
Asset-backed securities | $ | — |  |  | $ | 136,170 |  |  | $ | — |  |  | $ | 136,170 |
Collateralized loan obligations | — |  |  | 376,996 |  |  | — |  |  | 376,996 |
Corporate bonds | — |  |  | 135,018 |  |  | — |  |  | 135,018 |
Total debt securities | — |  |  | 648,184 |  |  | — |  |  | 648,184 |
Mortgage-backed securities available for sale: |  |  |  |  |  |  |
Residential pass-through securities | — |  |  | 436,151 |  |  | — |  |  | 436,151 |
Commercial pass-through securities | — |  |  | 143,394 |  |  | — |  |  | 143,394 |
Total mortgage-backed securities | — |  |  | 579,545 |  |  | — |  |  | 579,545 |
Total securities available for sale | $ | — |  |  | $ | 1,227,729 |  |  | $ | — |  |  | $ | 1,227,729 |
Interest rate contracts | $ | — |  |  | $ | 71,624 |  |  | $ | — |  |  | $ | 71,624 |
Total assets | $ | — |  |  | $ | 1,299,353 |  |  | $ | — |  |  | $ | 1,299,353 |
Schedule of Assets and Liabilities Measured at Fair Value on a Non-recurring Basis | Those assets measured at fair value on a non-recurring basis are summarized below:
| June 30, 2024
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
| (In Thousands)
Collateral dependent loans: |  |  |  |  |  |  |
Multi-family mortgage | $ | — |  |  | $ | — |  |  | $ | 1,896 |  |  | $ | 1,896 |
Nonresidential mortgage | — |  |  | — |  |  | 5,014 |  |  | 5,014 |
Total | $ | — |  |  | $ | — |  |  | $ | 6,910 |  |  | $ | 6,910 |
| June 30, 2023
| Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
| (In Thousands)
Collateral dependent loans: |  |  |  |  |  |  |
Residential mortgage | $ | — |  |  | $ | — |  |  | $ | 449 |  |  | $ | 449 |
Multi-family mortgage | — |  |  | — |  |  | 7,300 |  |  | 7,300 |
Nonresidential mortgage | — |  |  | — |  |  | 9,972 |  |  | 9,972 |
Total | $ | — |  |  | $ | — |  |  | $ | 17,721 |  |  | $ | 17,721 |
Other real estate owned, net: |  |  |  |  |  |  |
Nonresidential | $ | — |  |  | $ | — |  |  | $ | 12,956 |  |  | $ | 12,956 |
Total | $ | — |  |  | $ | — |  |  | $ | 12,956 |  |  | $ | 12,956 |
Schedule of Quantitative Information about Level 3 Fair Value Measurements | The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized adjusted Level 3 inputs to determine fair value:
| June 30, 2024
| Fair Value |  | Valuation Techniques |  | Unobservable Input |  | Range |  | Weighted Average
| (Dollars in Thousands)
Collateral dependent loans: |  |  |  |  |  |  |  |  |
Multi-family mortgage | $ | 1,896 |  |  | Market valuation of underlying collateral | (1) | Adjustments to reflect current conditions/selling costs | (2) | 13.32% |  | 13.32 | %
Nonresidential mortgage | 5,014 |  |  | Market valuation of underlying collateral | (1) | Adjustments to reflect current conditions/selling costs | (2) | 8.93% |  | 8.93 | %
Total | $ | 6,910 |  |  |  |  |  |  |  |  |
| June 30, 2023
| Fair Value |  | Valuation Techniques |  | Unobservable Input |  | Range |  | Weighted Average
| (Dollars in Thousands)
Collateral dependent loans: |  |  |  |  |  |  |  |  |
Residential mortgage | $ | 449 |  |  | Market valuation of underlying collateral | (1) | Adjustments to reflect current conditions/selling costs | (2) | 6.93% |  | 6.93 | %
Multi-family mortgage | 7,300 |  |  | Market valuation of underlying collateral | (1) | Adjustments to reflect current conditions/selling costs | (2) | 6% - 9% |  | 7.78 | %
Nonresidential mortgage | 9,972 |  |  | Market valuation of underlying collateral | (1) | Adjustments to reflect current conditions/selling costs | (2) | 9% - 16% |  | 11.78 | %
Total | $ | 17,721 |  |  |  |  |  |  |  |  |
Other real estate owned, net: |  |  |  |  |  |  |  |  |
Nonresidential | $ | 12,956 |  |  | Market valuation of underlying collateral | (3) | Adjustments to reflect current conditions/selling costs | (2) | 4.00% |  | 4.00 | %
Total | $ | 12,956 |  |  |  |  |  |  |  |  |
________________________________________ (1) The fair value basis of collateral dependent loans is generally determined based on an independent appraisal of the fair value of a loan’s underlying collateral. (2) The fair value basis of collateral dependent loans and other real estate owned is adjusted to reflect management estimates of selling costs including, but not limited to, real estate brokerage commissions and title transfer fees. (3) The fair value basis of other real estate owned is generally determined based upon the lower of an independent appraisal of the property’s fair value or the applicable listing price or contracted sales price.
Schedule of Carrying Amounts and Fair Values of Financial Instruments | The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of June 30, 2024 and 2023:
| June 30, 2024
| Carrying Amount |  | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
| (In Thousands)
Financial assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 63,864 |  |  | $ | 63,864 |  |  | $ | 63,864 |  |  | $ | — |  |  | $ | — |
Investment securities available for sale | 1,072,833 |  |  | 1,072,833 |  |  | — |  |  | 1,072,833 |  |  | — |
Investment securities held to maturity | 135,742 |  |  | 119,278 |  |  | — |  |  | 119,278 |  |  | — |
Loans held-for-sale | 6,036 |  |  | 6,077 |  |  | — |  |  | 6,077 |  |  | — |
Net loans receivable | 5,687,848 |  |  | 5,114,459 |  |  | — |  |  | — |  |  | 5,114,459 |
FHLB Stock | 80,300 |  |  | — |  |  | — |  |  | — |  |  | — |
Interest receivable | 29,521 |  |  | 29,521 |  |  | 11 |  |  | 8,986 |  |  | 20,524 |
Interest rate contracts | 54,362 |  |  | 54,362 |  |  | — |  |  | 54,362 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |
Deposits | $ | 3,550,762 |  |  | $ | 3,550,762 |  |  | $ | 3,550,762 |  |  | $ | — |  |  | $ | — |
Certificates of deposits | 1,607,361 |  |  | 1,597,939 |  |  | — |  |  | — |  |  | 1,597,939 |
Borrowings | 1,709,789 |  |  | 1,703,924 |  |  | — |  |  | — |  |  | 1,703,924 |
Interest payable on deposits | 5,662 |  |  | 5,662 |  |  | 3,397 |  |  | — |  |  | 2,265 |
Interest payable on borrowings | 7,784 |  |  | 7,784 |  |  | — |  |  | — |  |  | 7,784 |
| June 30, 2023
| Carrying Amount |  | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
| (In Thousands)
Financial assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 70,515 |  |  | $ | 70,515 |  |  | $ | 70,515 |  |  | $ | — |  |  | $ | — |
Investment securities available for sale | 1,227,729 |  |  | 1,227,729 |  |  | — |  |  | 1,227,729 |  |  | — |
Investment securities held to maturity | 146,465 |  |  | 131,169 |  |  | — |  |  | 131,169 |  |  | — |
Loans held-for-sale | 9,591 |  |  | 9,442 |  |  | — |  |  | 9,442 |  |  | — |
Net loans receivable | 5,780,687 |  |  | 5,261,808 |  |  | — |  |  | — |  |  | 5,261,808 |
FHLB Stock | 71,734 |  |  | — |  |  | — |  |  | — |  |  | — |
Interest receivable | 28,133 |  |  | 28,133 |  |  | 14 |  |  | 8,924 |  |  | 19,195 |
Interest rate contracts | 71,624 |  |  | 71,624 |  |  | — |  |  | 71,624 |  |  | — |
Financial liabilities: |  |  |  |  |  |  |  |  |
Deposits | $ | 3,611,632 |  |  | $ | 3,611,632 |  |  | $ | 3,611,632 |  |  | $ | — |  |  | $ | — |
Certificates of deposits | 2,017,551 |  |  | 1,989,434 |  |  | — |  |  | — |  |  | 1,989,434 |
Borrowings | 1,506,812 |  |  | 1,498,920 |  |  | — |  |  | — |  |  | 1,498,920 |
Interest payable on deposits | 6,826 |  |  | 6,826 |  |  | 1,933 |  |  | — |  |  | 4,893 |
Interest payable on borrowings | 5,282 |  |  | 5,282 |  |  | — |  |  | — |  |  | 5,282 |

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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