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INCOME TAXES
 6 Months Ended
Dec. 31, 2023
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 and six months ended December 31, 2023 and 2022:
Three Months Ended
December 31,		Six Months Ended
December 31,
2023202220232022
(Dollars in Thousands) (Dollars in Thousands)
(Loss) income before income taxes$(12,045)$1,984 $1,106 $23,774 
Statutory federal tax rate21 %21 %21 %21 %
Federal income tax at statutory rate$(2,529)$417 $232 $4,993 
(Reduction) increase in income taxes resulting from:
Tax exempt interest(17)(46)(35)(105)
State tax, net of federal tax effect(966)(124)(188)1,296 
Incentive stock option compensation expense2 3 5 6 
Income from bank-owned life insurance(364)(362)(714)(1,137)
Surrender of bank-owned life insurance polices5,713 — 5,713 — 
Other items, net(57)145 78 235 
Total income tax expense$1,782 $33 $5,091 $5,288 
Effective income tax rate(14.79)%1.66 %460.31 %22.24 %