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LOANS RECEIVABLE (Tables)
 6 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
Schedule of Loans Receivable
The following table sets forth the composition of the Company’s loan portfolio at December 31, 2023 and June 30, 2023:
December 31,
2023		June 30,
2023
(In Thousands)
Commercial loans:
Multi-family mortgage$2,651,274 $2,761,775 
Nonresidential mortgage947,287 968,574 
Commercial business144,134 146,861 
Construction221,933 226,609 
Total commercial loans3,964,628 4,103,819 
One- to four-family residential mortgage1,746,065 1,700,559 
Consumer loans:
Home equity loans43,517 43,549 
Other consumer2,728 2,549 
Total consumer loans46,245 46,098 
Total loans5,756,938 5,850,476 
Unaccreted yield adjustments (1)
(11,309)(21,055)
Total loans receivable, net of yield adjustments$5,745,629 $5,829,421 
___________________________
(1)At December 31, 2023 and June 30, 2023, included a fair value adjustment to the carrying amount of hedged one- to four-family residential mortgage loans.
Contractual Payment Status of Past Loans Receivable The following tables present the payment status of past due loans as of December 31, 2023 and June 30, 2023, by loan segment:
Payment Status
December 31, 2023
30-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(In Thousands)
Multi-family mortgage$9,357 $— $10,625 $19,982 $2,631,292 $2,651,274 
Nonresidential mortgage488 — 4,023 4,511 942,776 947,287 
Commercial business4,133 893 646 5,672 138,462 144,134 
Construction— — — — 221,933 221,933 
One- to four-family residential mortgage2,554 1,331 4,022 7,907 1,738,158 1,746,065 
Home equity loans96 99 22 217 43,300 43,517 
Other consumer— — — — 2,728 2,728 
Total loans$16,628 $2,323 $19,338 $38,289 $5,718,649 $5,756,938 
Payment Status
June 30, 2023
30-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(In Thousands)
Multi-family mortgage$2,958 $— $10,756 $13,714 $2,748,061 $2,761,775 
Nonresidential mortgage792 — 8,233 9,025 959,549 968,574 
Commercial business528 16 236 780 146,081 146,861 
Construction— — — — 226,609 226,609 
One- to four-family residential mortgage2,019 1,202 3,731 6,952 1,693,607 1,700,559 
Home equity loans25 — 50 75 43,474 43,549 
Other consumer— — — — 2,549 2,549 
Total loans$6,322 $1,218 $23,006 $30,546 $5,819,930 $5,850,476 
Performance Status of Loans Receivable
The following tables present information relating to the Company’s nonperforming loans as of December 31, 2023 and June 30, 2023:
Performance Status
December 31, 2023
90 Days and Over Past Due AccruingNonaccrual Loans with Allowance for Credit LossesNonaccrual Loans with no Allowance for Credit LossesTotal NonperformingPerformingTotal
(In Thousands)
Multi-family mortgage$— $1,939 $14,049 $15,988 $2,635,286 $2,651,274 
Nonresidential mortgage— — 4,335 4,335 942,952 947,287 
Commercial business— 814 1 815 143,319 144,134 
Construction— — — — 221,933 221,933 
One- to four-family residential mortgage— 385 6,519 6,904 1,739,161 1,746,065 
Home equity loans— — 47 47 43,470 43,517 
Other consumer— — — — 2,728 2,728 
Total loans$— $3,138 $24,951 $28,089 $5,728,849 $5,756,938 
Performance Status
June 30, 2023
90 Days and Over Past Due AccruingNonaccrual Loans with Allowance for Credit LossesNonaccrual Loans with no Allowance for Credit LossesTotal NonperformingPerformingTotal
(In Thousands)
Multi-family mortgage$— $5,686 $13,428 $19,114 $2,742,661 $2,761,775 
Nonresidential mortgage— 11,815 4,725 16,540 952,034 968,574 
Commercial business— 71 181 252 146,609 146,861 
Construction— — — — 226,609 226,609 
One- to four-family residential mortgage— 1,640 5,031 6,671 1,693,888 1,700,559 
Home equity loans— — 50 50 43,499 43,549 
Other consumer— — — — 2,549 2,549 
Total loans$— $19,212 $23,415 $42,627 $5,807,849 $5,850,476 
Troubled Debt Restructurings of Loans Receivable
The following tables presents the amortized cost basis at December 31, 2023 of loan modifications made to borrowers experiencing financial difficulty that were restructured during the three and six months ended December 31, 2023 by type of modification:
Three Months Ended December 31, 2023
Payment DelayTerm ExtensionTotalPercent of Total Class
(Dollars In Thousands)
Multi-family mortgage$2,774 $— $2,774 0.10 %
One- to four-family residential mortgage— 45 45 0.00 %
Home equity loans— 25 25 0.06 %
Total$2,774 $70 $2,844 0.06 %

Six Months Ended December 31, 2023
Payment DelayTerm ExtensionTotalPercent of Total Class
(Dollars In Thousands)
Multi-family mortgage$2,774 $— $2,774 0.10 %
Commercial business45 — 45 0.03 %
One- to four-family residential mortgage489 45 534 0.03 %
Home equity loans— 25 25 0.06 %
Total$3,308 $70 $3,378 0.07 %
The following table presents total TDRs at June 30, 2023:
June 30, 2023
AccrualNon-accrualTotal
# of LoansAmount# of LoansAmount# of LoansAmount
(Dollars In Thousands)
Commercial loans:
Multi-family mortgage—$— 2$5,400 2$5,400 
Nonresidential mortgage3170 2700 5870 
Commercial business63,197 —— 63,197 
Construction—— —— —— 
Total commercial loans93,367 46,100 139,467 
One- to four-family residential mortgage396,752 4774 437,526 
Consumer loans:
Home equity loans6368 —— 6368 
Total54$10,487 8$6,874 62$17,361 
The following table presents information regarding TDRs that occurred during the three and six months ended December 31, 2022:
Three Months Ended December 31, 2022
# of LoansPre-
modification
Recorded
Investment		Post-
modification
Recorded
Investment
(Dollars In Thousands)
Commercial business1$7 $7 
One- to four-family residential mortgage1273 270 
Total2$280 $277 
Six Months Ended December 31, 2022
# of LoansPre-
modification
Recorded
Investment		Post-
modification
Recorded
Investment
(Dollars In Thousands)
Commercial business1 $7 $7 
One- to four-family residential mortgage2708 705 
Home equity loans135 35 
Total 4$750 $747 
Carrying Value of Collateral Dependent Individually Analyzed Loans
The following table presents the carrying value and related allowance of collateral dependent individually analyzed loans at the dates indicated:
December 31, 2023June 30, 2023
Carrying ValueRelated AllowanceCarrying ValueRelated Allowance
(In Thousands)
Commercial loans:
Multi-family mortgage$13,213 $35 $19,114 $326 
Nonresidential mortgage (1)
4,022 — 16,207 3,001 
Total commercial loans17,235 35 35,321 3,327 
One- to four-family residential mortgage (2)
2,635 — 2,875 — 
Consumer loans:
Home equity loans (2)
20 — — — 
Total$19,890 $35 $38,196 $3,327 
___________________________
(1)Secured by income-producing nonresidential property.
(2)Secured by one- to four-family residential properties.
Credit-Rating Classification of Loans Receivable
The following table presents the risk category of loans and current period gross charge-offs as of December 31, 2023 by loan segment and vintage year:
Term Loans by Origination Year for Fiscal Years ended June 30,
20242023202220212020PriorRevolving LoansTotal
(In Thousands)
Multi-family mortgage:
Pass$— $600,028 $955,665 $218,580 $202,206 $627,429 $— $2,603,908 
Special Mention— — — — — 6,562 — 6,562 
Substandard— — — 9,681 — 31,123 — 40,804 
Doubtful— — — — — — — — 
Total multi-family mortgage— 600,028 955,665 228,261 202,206 665,114 — 2,651,274 
Multi-family current period gross charge-offs354 354 
Nonresidential mortgage:
Pass23,888 107,076 207,213 90,901 51,173 439,953 100 920,304 
Special Mention— — — — — 11,271 — 11,271 
Substandard— — — 876 — 14,836 — 15,712 
Doubtful— — — — — — — — 
Total nonresidential mortgage23,888 107,076 207,213 91,777 51,173 466,060 100 947,287 
Nonresidential current period gross charge-offs5,722 5,722 
Commercial business:
Pass4,323 9,548 26,708 20,230 6,832 8,748 58,601 134,990 
Special Mention— — 1,428 — — 1,798 — 3,226 
Substandard— — — 3,563 182 1,971 202 5,918 
Doubtful— — — — — — — — 
Total commercial business4,323 9,548 28,136 23,793 7,014 12,517 58,803 144,134 
Commercial current period gross charge-offs336 11 347 
Construction loans:
Pass7,768 39,693 41,296 115,593 7,995 3,853 5,735 221,933 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total construction loans7,768 39,693 41,296 115,593 7,995 3,853 5,735 221,933 
Residential mortgage:
Pass115,046 189,082 443,771 473,953 78,719 434,754 — 1,735,325 
Special Mention— — — — — 1,822 — 1,822 
Substandard— — 532 — — 8,386 — 8,918 
Doubtful— — — — — — — — 
Total residential mortgage115,046 189,082 444,303 473,953 78,719 444,962 — 1,746,065 
Residential current period gross charge-offs37 37 
Home equity loans:
Pass907 6,226 2,369 389 1,119 8,645 23,502 43,157 
Special Mention— — — — — — 99 99 
Substandard— — — — — 261 — 261 
Doubtful— — — — — — — — 
Total home equity loans907 6,226 2,369 389 1,119 8,906 23,601 43,517 
Other consumer loans
Pass458 236 228 112 486 1,085 40 2,645 
Special Mention— — — — — — — — 
Substandard— — — — — — 1 1 
Doubtful— — — — — — 82 82 
Other consumer loans458 236 228 112 486 1,085 123 2,728 
Total loans$152,390 $951,889 $1,679,210 $933,878 $348,712 $1,602,497 $88,362 $5,756,938 
Total current period gross charge-offs$— $— $— $— $336 $6,124 $— $6,460 
The following table presents the risk category of loans as of June 30, 2023 by loan segment and vintage year:
Term Loans by Origination Year for Fiscal Years ended June 30,
20232022202120202019PriorRevolving LoansTotal
(In Thousands)
Multi-family mortgage:
Pass$603,260 $954,554 $213,482 $198,969 $226,929 $510,485 $— $2,707,679 
Special Mention— — — — 6,006 6,647 — 12,653 
Substandard— — 9,809 — 9,432 22,202 — 41,443 
Doubtful— — — — — — — — 
Total multi-family mortgage603,260 954,554 223,291 198,969 242,367 539,334 — 2,761,775 
Nonresidential mortgage:
Pass109,725 220,443 83,032 51,933 59,197 414,742 6,000 945,072 
Special Mention— — — — — 378 — 378 
Substandard— — 708 — 919 21,497 — 23,124 
Doubtful— — — — — — — — 
Total nonresidential mortgage109,725 220,443 83,740 51,933 60,116 436,617 6,000 968,574 
Commercial business:
Pass10,364 28,644 25,304 7,875 1,731 8,776 59,031 141,725 
Special Mention— — — 47 176 2,456 371 3,050 
Substandard— — — 395 60 1,385 246 2,086 
Doubtful— — — — — — — — 
Total commercial business10,364 28,644 25,304 8,317 1,967 12,617 59,648 146,861 
Construction loans:
Pass25,070 36,389 143,086 12,275 2,961 1,093 5,735 226,609 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total construction loans25,070 36,389 143,086 12,275 2,961 1,093 5,735 226,609 
Residential mortgage:
Pass195,521 454,504 491,460 80,431 45,741 422,472 — 1,690,129 
Special Mention— — — — 1,168 425 — 1,593 
Substandard— 542 — — 80 8,215 — 8,837 
Doubtful— — — — — — — — 
Total residential mortgage195,521 455,046 491,460 80,431 46,989 431,112 — 1,700,559 
Home equity loans:
Pass7,682 2,567 607 1,264 2,478 7,280 21,384 43,262 
Special Mention— — — — — — — — 
Substandard— — — — — 287 — 287 
Doubtful— — — — — — — — 
Total home equity loans7,682 2,567 607 1,264 2,478 7,567 21,384 43,549 
Other consumer loans
Pass367 247 110 494 302 912 42 2,474 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — 75 75 
Other consumer loans367 247 110 494 302 912 117 2,549 
Total loans$951,989 $1,697,890 $967,598 $353,683 $357,180 $1,429,252 $92,884 $5,850,476