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BORROWINGS | 6 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
BORROWINGS | BORROWINGS Borrowings at December 31, 2024 and June 30, 2024 consisted of the following:
| December 31, 2024 |  | June 30, 2024
| (In Thousands)
FHLB advances | $ | 1,028,949 |  |  | $ | 1,434,789 |
Federal Reserve Bank Term Funding Program ("BTFP") borrowings | — |  |  | 100,000 |
Overnight borrowings (1) | 230,000 |  |  | 175,000 |
Total borrowings | $ | 1,258,949 |  |  | $ | 1,709,789 |
___________________________ (1)At December 31, 2024 and June 30, 2024, there were FHLB overnight line of credit borrowings of $230.0 million and $175.0 million, respectively. Fixed rate advances from the FHLB of New York mature as follows:
| December 31, 2024 |  | June 30, 2024
| Balance |  | Weighted Average Interest Rate |  | Balance |  | Weighted Average Interest Rate
| (Dollars in Thousands)
By remaining period to maturity: |  |  |  |  |  |  |
Less than one year | $ | 829,000 |  |  | 4.53 | % |  | $ | 1,328,500 |  |  | 5.25 | %
One to two years | — |  |  | — |  |  | 6,500 |  |  | 2.82 |
Two to three years | — |  |  | — |  |  | — |  |  | — |
Three to four years | 200,000 |  |  | 3.98 |  |  | 200,000 |  |  | 3.98 |
Four to five years | — |  |  | — |  |  | — |  |  | — |
Greater than five years | — |  |  | — |  |  | — |  |  | — |
Total advances | 1,029,000 |  |  | 4.42 | % |  | 1,535,000 |  |  | 5.07 | %
Unamortized fair value adjustments | (51) |  |  |  |  | (211) |  |  |
Total advances, net of fair value adjustments | $ | 1,028,949 |  |  |  |  | $ | 1,534,789 |  |  |
At December 31, 2024, FHLB advances and overnight line of credit borrowings were collateralized by the FHLB capital stock owned by the Bank and mortgage loans with carrying values totaling approximately $3.32 billion. At June 30, 2024, FHLB advances and overnight line of credit borrowings were collateralized by the FHLB capital stock owned by the Bank and mortgage loans with carrying values totaling approximately $4.38 billion. At December 31, 2024 there were no BTFP borrowings. At June 30, 2024, BTFP borrowings were secured by agency mortgage-backed securities with a par value of $113.5 million.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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