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LOANS RECEIVABLE (Tables)
 9 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
Schedule of Loans Receivable
The following table sets forth the composition of the Company’s loan portfolio at March 31, 2024 and June 30, 2023:
March 31,
2024		June 30,
2023
(In Thousands)
Commercial loans:
Multi-family mortgage$2,645,195 $2,761,775 
Nonresidential mortgage965,539 968,574 
Commercial business147,326 146,861 
Construction229,457 226,609 
Total commercial loans3,987,517 4,103,819 
One- to four-family residential mortgage1,741,644 1,700,559 
Consumer loans:
Home equity loans42,731 43,549 
Other consumer3,198 2,549 
Total consumer loans45,929 46,098 
Total loans5,775,090 5,850,476 
Unaccreted yield adjustments (1)
(16,754)(21,055)
Total loans receivable, net of yield adjustments$5,758,336 $5,829,421 
___________________________
(1)At March 31, 2024 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 March 31, 2024 and June 30, 2023, by loan segment:
Payment Status
March 31, 2024
30-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(In Thousands)
Multi-family mortgage$2,725 $— $19,912 $22,637 $2,622,558 $2,645,195 
Nonresidential mortgage5,912 174 3,230 9,316 956,223 965,539 
Commercial business1,495 104 640 2,239 145,087 147,326 
Construction— — — — 229,457 229,457 
One- to four-family residential mortgage2,308 2,043 2,893 7,244 1,734,400 1,741,644 
Home equity loans325 25 19 369 42,362 42,731 
Other consumer— — — — 3,198 3,198 
Total loans$12,765 $2,346 $26,694 $41,805 $5,733,285 $5,775,090 
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 $5,850,476 
Performance Status of Loans Receivable
The following tables present information relating to the Company’s nonperforming loans as of March 31, 2024 and June 30, 2023:
Performance Status
March 31, 2024
90 Days and Over Past Due AccruingNonaccrual Loans with Allowance for Credit LossesNonaccrual Loans with no Allowance for Credit LossesTotal NonperformingPerformingTotal
(In Thousands)
Multi-family mortgage$— $1,904 $23,278 $25,182 $2,620,013 $2,645,195 
Nonresidential mortgage— 174 4,314 4,488 961,051 965,539 
Commercial business— 827 3,362 4,189 143,137 147,326 
Construction— — — — 229,457 229,457 
One- to four-family residential mortgage— 1,379 4,263 5,642 1,736,002 1,741,644 
Home equity loans— — 45 45 42,686 42,731 
Other consumer— — — — 3,198 3,198 
Total loans$— $4,284 $35,262 $39,546 $5,735,544 $5,775,090 
Performance Status
June 30, 2023
90 Days and Over Past Due AccruingNonaccrual Loans with Allowance for Credit LossesNonaccrual Loans with no Allowance for Credit LossesTotal NonperformingPerformingTotal
(In Thousands)
Multi-family mortgage$— $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 $5,850,476 
Troubled Debt Restructurings of Loans Receivable
The following tables presents the amortized cost basis at March 31, 2024 of loan modifications made to borrowers experiencing financial difficulty that were restructured during the three and nine months ended March 31, 2024 by type of modification:
Three Months Ended March 31, 2024
Payment DelayTerm ExtensionTotalPercent of Total Class
(Dollars In Thousands)
Nonresidential mortgage$— $786 $786 0.08 %
Total$— $786 $786 0.01 %

Nine Months Ended March 31, 2024
Payment DelayTerm ExtensionTotalPercent of Total Class
(Dollars In Thousands)
Multi-family mortgage$2,774 $— $2,774 0.10 %
Nonresidential mortgage— 786 786 0.08 %
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 $856 $4,164 0.08 %
The following table presents total TDRs at June 30, 2023:
June 30, 2023
AccrualNon-accrualTotal
# of LoansAmount# of LoansAmount# of LoansAmount
(Dollars In Thousands)
Commercial loans:
Multi-family mortgage—$— 2$5,400 2$5,400 
Nonresidential mortgage3170 2700 5870 
Commercial business63,197 —— 63,197 
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 nine months ended March 31, 2023:
Three Months Ended March 31, 2023
# of LoansPre-
modification
Recorded
Investment		Post-
modification
Recorded
Investment
(Dollars In Thousands)
Commercial business1$67 $67 
Total1$67 $67 
Nine Months Ended March 31, 2023
# of LoansPre-
modification
Recorded
Investment		Post-
modification
Recorded
Investment
(Dollars In Thousands)
Commercial business2$74 $74 
One- to four-family residential mortgage2708 705 
Home equity loans135 35 
Total 5$817 $814 
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:
March 31, 2024June 30, 2023
Carrying ValueRelated AllowanceCarrying ValueRelated Allowance
(In Thousands)
Commercial loans:
Multi-family mortgage$25,182 $9 $19,114 $326 
Nonresidential mortgage (1)
3,230 — 16,207 3,001 
Commercial business (2)
3,323 — — — 
Total commercial loans31,735 9 35,321 3,327 
One- to four-family residential mortgage (2)
1,056 — 2,875 — 
Consumer loans:
Home equity loans (2)
19 — — — 
Total$32,810 $9 $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 March 31, 2024 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$16,520 $598,167 $953,096 $217,401 $201,040 $611,894 $— $2,598,118 
Special Mention— — — — — 6,519 — 6,519 
Substandard— — — 9,626 — 30,932 — 40,558 
Doubtful— — — — — — — — 
Total multi-family mortgage16,520 598,167 953,096 227,027 201,040 649,345 — 2,645,195 
Multi-family current period gross charge-offs— — — — — 389 — 389 
Nonresidential mortgage:
Pass64,851 106,424 205,793 90,222 50,767 420,499 150 938,706 
Special Mention— — — — — 11,217 — 11,217 
Substandard— — — 871 — 14,745 — 15,616 
Doubtful— — — — — — — — 
Total nonresidential mortgage64,851 106,424 205,793 91,093 50,767 446,461 150 965,539 
Nonresidential current period gross charge-offs— — — — — 5,975 — 5,975 
Commercial business:
Pass10,216 8,906 26,884 18,963 6,401 8,470 57,867 137,707 
Special Mention— — 1,618 464 — 1,775 — 3,857 
Substandard— — — 3,406 179 2,049 128 5,762 
Doubtful— — — — — — — — 
Total commercial business10,216 8,906 28,502 22,833 6,580 12,294 57,995 147,326 
Commercial current period gross charge-offs— — — 5 336 11 — 352 
Construction loans:
Pass36,988 43,602 43,182 67,408 8,352 3,751 5,735 209,018 
Special Mention— — — 20,439 — — — 20,439 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total construction loans36,988 43,602 43,182 87,847 8,352 3,751 5,735 229,457 
Residential mortgage:
Pass139,316 185,852 439,300 467,793 78,137 419,604 267 1,730,269 
Special Mention— 514 — — — 1,656 — 2,170 
Substandard— — 528 — — 8,677 — 9,205 
Doubtful— — — — — — — — 
Total residential mortgage139,316 186,366 439,828 467,793 78,137 429,937 267 1,741,644 
Residential current period gross charge-offs— — — — — 37 — 37 
Home equity loans:
Pass1,239 6,082 2,300 359 1,069 8,406 22,934 42,389 
Special Mention— — — — — — 95 95 
Substandard— — — — — 247 — 247 
Doubtful— — — — — — — — 
Total home equity loans1,239 6,082 2,300 359 1,069 8,653 23,029 42,731 
Other consumer loans
Pass1,017 231 213 129 466 1,015 40 3,111 
Special Mention— — — — — — — — 
Substandard— — — — — — 1 1 
Doubtful— — — — — — 86 86 
Other consumer loans1,017 231 213 129 466 1,015 127 3,198 
Total loans$270,147 $949,778 $1,672,914 $897,081 $346,411 $1,551,456 $87,303 $5,775,090 
Total current period gross charge-offs$— $— $— $5 $336 $6,412 $— $6,753 
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