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ALLOWANCE FOR CREDIT LOSSES (Tables)

6 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Allowance for Credit Losses and Balance of Loans Receivable

The following tables present the balance of the allowance for credit losses at December 31, 2023 and June 30, 2023. The balance of the allowance for credit losses is based on an expected loss methodology, referred to as the “CECL” methodology. The tables identify the valuation allowances attributable to specifically identified impairments on individually analyzed loans, including those acquired with deteriorated credit quality, as well as valuation allowances for impairments on loans collectively evaluated. The tables include the underlying balance of loans receivable applicable to each category as of those dates.

			Allowance for Credit Losses December 31, 2023
			Loans acquired with deteriorated credit quality individually analyzed						Loans acquired with deteriorated credit quality collectively evaluated						Loans individually analyzed						Loans collectively evaluated						Total allowance for credit losses
			(In Thousands)
Multi-family mortgage			$	—					$	—					$	35					$	24,427					$	24,462
Nonresidential mortgage			—						38						—						5,850						5,888
Commercial business			—						42						106						1,145						1,293
Construction			—						—						—						1,171						1,171
One- to four-family residential mortgage			—						85						13						11,555						11,653
Home equity loans			—						—						—						330						330
Other consumer			—						—						—						70						70
Total loans			$	—					$	165					$	154					$	44,548					$	44,867

			Balance of Loans Receivable December 31, 2023
			Loans acquired with deteriorated credit quality individually analyzed						Loans acquired with deteriorated credit quality collectively evaluated						Loans individually analyzed						Loans collectively evaluated						Total loans
			(In Thousands)
Multi-family mortgage			$	—					$	—					$	15,988					$	2,635,286					$	2,651,274
Nonresidential mortgage			313						2,269						4,022						940,683						947,287
Commercial business			—						4,774						815						138,545						144,134
Construction			—						5,735						—						216,198						221,933
One- to four-family residential mortgage			1,452						3,432						5,452						1,735,729						1,746,065
Home equity loans			25						—						22						43,470						43,517
Other consumer			—						—						—						2,728						2,728
Total loans			$	1,790					$	16,210					$	26,299					$	5,712,639					$	5,756,938
Unaccreted yield adjustments																											(11,309)
Loans receivable, net of yield adjustments																											$	5,745,629

			Allowance for Credit Losses June 30, 2023
			Loans acquired with deteriorated credit quality individually analyzed						Loans acquired with deteriorated credit quality collectively evaluated						Loans individually analyzed						Loans collectively evaluated						Total allowance for credit losses
			(In Thousands)
Multi-family mortgage			$	—					$	—					$	326					$	26,036					$	26,362
Nonresidential mortgage			—						70						3,001						5,882						8,953
Commercial business			—						9						20						1,411						1,440
Construction			—						—						—						1,336						1,336
One- to four-family residential mortgage			3						132						70						10,032						10,237
Home equity loans			—						—						—						338						338
Other consumer			—						—						—						68						68
Total loans			$	3					$	211					$	3,417					$	45,103					$	48,734

			Balance of Loans Receivable June 30, 2023
			Loans acquired with deteriorated credit quality individually analyzed						Loans acquired with deteriorated credit quality collectively evaluated						Loans individually analyzed						Loans collectively evaluated						Total loans
			(In Thousands)
Multi-family mortgage			$	—					$	—					$	19,114					$	2,742,661					$	2,761,775
Nonresidential mortgage			333						3,562						16,207						948,472						968,574
Commercial business			—						4,237						252						142,372						146,861
Construction			—						5,735						—						220,874						226,609
One- to four-family residential mortgage			570						4,433						6,101						1,689,455						1,700,559
Home equity loans			25						—						25						43,499						43,549
Other consumer			—						—						—						2,549						2,549
Total loans			$	928					$	17,967					$	41,699					$	5,789,882					$	5,850,476
Unaccreted yield adjustments																											(21,055)
Loans receivable, net of yield adjustments																											$	5,829,421

The following tables present the activity in the allowance for credit losses on loans for the three and six months ended December 31, 2023 and 2022.

			Changes in the Allowance for Credit Losses Three Months Ended December 31, 2023
			Balance at September 30, 2023						Charge-offs						Recoveries						Provision for (reversal of) credit losses						Balance at December 31, 2023
			(In Thousands)
Multi-family mortgage			$	25,590					$	(354)					$	—					$	(774)					$	24,462
Nonresidential mortgage			7,437						(3,689)						11						2,129						5,888
Commercial business			1,413						(158)						4						34						1,293
Construction			1,317						—						—						(146)						1,171
One- to four-family residential mortgage			10,703						(37)						113						874						11,653
Home equity loans			342						—						—						(12)						330
Other consumer			70						—						—						—						70
Total loans			$	46,872					$	(4,238)					$	128					$	2,105					$	44,867

			Changes in the Allowance for Credit Losses Six Months Ended December 31, 2023
			Balance at June 30, 2023						Charge-offs						Recoveries						Provision for (reversal of) credit losses						Balance at December 31, 2023
			(In Thousands)
Multi-family mortgage			$	26,362					$	(354)					$	—					$	(1,546)					$	24,462
Nonresidential mortgage			8,953						(5,722)						120						2,537						5,888
Commercial business			1,440						(347)						10						190						1,293
Construction			1,336						—						—						(165)						1,171
One- to four-family residential mortgage			10,237						(37)						113						1,340						11,653
Home equity loans			338						—						—						(8)						330
Other consumer			68						—						—						2						70
Total loans			$	48,734					$	(6,460)					$	243					$	2,350					$	44,867

			Changes in the Allowance for Credit Losses Three Months Ended December 31, 2022
			Balance at September 30, 2022						Charge-offs						Recoveries						Provision for (reversal of) credit losses						Balance at December 31, 2022
			(In Thousands)
Multi-family mortgage			$	26,246					$	(395)					$	—					$	1,647					$	27,498
Nonresidential mortgage			9,152						(5)						—						(554)						8,593
Commercial business			1,972						(15)						5						(143)						1,819
Construction			1,120						—						—						81						1,201
One- to four-family residential mortgage			8,801						—						—						554						9,355
Home equity loans			244						—						—						95						339
Other consumer			78						—						3						(9)						72
Total loans			$	47,613					$	(415)					$	8					$	1,671					$	48,877

			Changes in the Allowance for Credit Losses Six Months Ended December 31, 2022
			Balance at June 30, 2022												Charge-offs						Recoveries												(Reversal of) provision for credit losses						Balance at December 31, 2022
			(In Thousands)
Multi-family mortgage			$	25,321											$	(395)					$	—											$	2,572					$	27,498
Nonresidential mortgage			10,590												(15)						—												(1,982)						8,593
Commercial business			1,792												(133)						17												143						1,819
Construction			1,486												—						—												(285)						1,201
One- to four-family residential mortgage			7,540												—						—												1,815						9,355
Home equity loans			245												—						—												94						339
Other consumer			84												—						4												(16)						72
Total loans			$	47,058											$	(543)					$	21											$	2,341					$	48,877

Allowance for Credit Losses on Financing Receivables Off Balance Sheet Commitments

The following table presents the activity in the allowance for credit losses on off balance sheet commitments recorded in other non-interest expense for the three and six months ended December 31, 2023 and 2022:

			Three Months Ended December 31,												Six Months Ended December 31,
			2023						2022						2023						2022
			(In Thousands)												(In Thousands)
Balance at beginning of the period			$	667					$	753					$	741					$	1,041
Provision for (reversal of) credit losses			(100)						66						(174)						(222)
Balance at end of the period			$	567					$	819					$	567					$	819

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- Definition

Allowance for credit losses on financing receivables off balance sheet commitments.

+ References

No definition available.

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Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-13

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B

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