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Goodwill and Other Intangible Assets | 12 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The Company performed the annual quantitative goodwill impairment analyses in the fourth quarter of its fiscal year ended June 30, 2024. Based on the results of the impairment analyses, the Company concluded that the carrying value of its single reporting unit exceeded its respective fair value, resulting in the recognition of a non-cash, pre-tax goodwill impairment of $97.4 million for the fiscal year ended June 30, 2024. The fair value of the single reporting unit was estimated using the income approach and a market-based approaches, weighted 50% and 50%, respectively. The goodwill impairment was primarily due to the continued impact of higher interest rates and discount rates on the Company’s reporting unit, and a sustained decline in the banking industry share prices, including the Company’s. Based on the quantitative assessment performed, the Company concluded that the fair value of its single reporting unit was below its respective carrying amount as of the date on which the quantitative impairment test was conducted. The goodwill impairment has no impact on the Company’s liquidity, regulatory capital ratios.
| Goodwill |  | Core Deposit Intangibles
| (In Thousands)
Balance at June 30, 2021 | $ | 210,895 |  |  | $ | 3,705 |
Amortization | — |  |  | (685) |
Balance at June 30, 2022 | 210,895 |  |  | 3,020 |
Amortization | — |  |  | (563) |
Balance at June 30, 2023 | 210,895 |  |  | 2,457 |
Amortization | — |  |  | (526) |
Impairment | (97,370) |  |  | — |
Balance at June 30, 2024 | $ | 113,525 |  |  | $ | 1,931 |
As of June 30, 2023, there was no accumulated goodwill impairment. At June 30, 2024, accumulated goodwill impairment was $97.4 million. Scheduled amortization of core deposit intangibles for each of the next five years and thereafter is as follows:
Year Ending June 30, |  | Core Deposit Intangible Amortization
|  | (In Thousands)
2025 |  | $ | 495 |
2026 |  | 467 |
2027 |  | 441 |
2028 |  | 353 |
2029 |  | 122 |
Thereafter |  | 53 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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