The following tables present the balance of the allowance for credit losses at December 31, 2024 and June 30, 2024. 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, 2024
	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	$	—	$	—	$	29	$	24,851	$	24,880
Nonresidential mortgage	—		26		6		6,447		6,479
Commercial business	—		85		54		1,424		1,563
Construction	—		4		—		1,153		1,157
One- to four-family residential mortgage	14		69		34		9,738		9,855
Home equity loans	—		—		37		384		421
Other consumer	—		—		—		102		102
Total loans	$	14	$	184	$	160	$	44,099	$	44,457


	Balance of Loans Receivable December 31, 2024
	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	$	—	$	—	$	25,214	$	2,697,409	$	2,722,623
Nonresidential mortgage	603		1,679		5,924		941,988		950,194
Commercial business	—		3,136		498		132,106		135,740
Construction	—		5,735		—		170,969		176,704
One- to four-family residential mortgage	1,204		3,078		4,136		1,756,742		1,765,160
Home equity loans	23		—		95		46,983		47,101
Other consumer	—		—		—		2,778		2,778
Total loans	$	1,830	$	13,628	$	35,867	$	5,748,975	$	5,800,300
Unaccreted yield adjustments									(8,542)
Loans receivable, net of yield adjustments									$	5,791,758


	Allowance for Credit Losses June 30, 2024
	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	$	—	$	—	$	—	$	24,125	$	24,125
Nonresidential mortgage	—		31		517		5,577		6,125
Commercial business	—		6		228		1,339		1,573
Construction	—		—		—		1,230		1,230
One- to four-family residential mortgage	9		95		108		11,249		11,461
Home equity loans	—		—		—		349		349
Other consumer	—		—		—		76		76
Total loans	$	9	$	132	$	853	$	43,945	$	44,939


	Balance of Loans Receivable June 30, 2024
	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	$	—	$	—	$	22,591	$	2,623,260	$	2,645,851
Nonresidential mortgage	284		2,145		9,539		936,107		948,075
Commercial business	—		2,794		714		139,239		142,747
Construction	—		5,735		—		203,502		209,237
One- to four-family residential mortgage	1,276		3,431		5,429		1,745,915		1,756,051
Home equity loans	24		—		20		44,060		44,104
Other consumer	—		—		—		2,685		2,685
Total loans	$	1,584	$	14,105	$	38,293	$	5,694,768	$	5,748,750
Unaccreted yield adjustments									(15,963)
Loans receivable, net of yield adjustments									$	5,732,787


	Changes in the Allowance for Credit Losses Three Months Ended December 31, 2024
	Balance at September 30, 2024		Charge-offs		Recoveries		Provision for (reversal of) credit losses		Balance at December 31, 2024
	(In Thousands)
Multi-family mortgage	$	24,368	$	—	$	—	$	512	$	24,880
Nonresidential mortgage	6,913		(498)		—		64		6,479
Commercial business	1,705		(75)		5		(72)		1,563
Construction	1,503		—		—		(346)		1,157
One- to four-family residential mortgage	9,985		—		2		(132)		9,855
Home equity loans	357		(2)		—		66		421
Other consumer	92		(5)		—		15		102
Total loans	$	44,923	$	(580)	$	7	$	107	$	44,457


	Changes in the Allowance for Credit Losses Six Months Ended December 31, 2024
	Balance at June 30, 2024		Charge-offs		Recoveries		Provision for (reversal of) credit losses		Balance at December 31, 2024
	(In Thousands)
Multi-family mortgage	$	24,125	$	—	$	—	$	755	$	24,880
Nonresidential mortgage	6,125		(498)		—		852		6,479
Commercial business	1,573		(202)		10		182		1,563
Construction	1,230		—		—		(73)		1,157
One- to four-family residential mortgage	11,461		(2)		2		(1,606)		9,855
Home equity loans	349		(2)		—		74		421
Other consumer	76		(5)		—		31		102
Total loans	$	44,939	$	(709)	$	12	$	215	$	44,457


	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

The allowance for credit losses on loans decreased from $44.9 million at June 30, 2024 to $44.5 million as of December 31, 2024. The decrease was primarily due to a decrease in the quantitative reserve on one- to four-family residential mortgage loans due to lower assumed loss rates, and a decrease in individually analyzed reserves on nonresidential mortgage loans. The decrease was offset by an increase in the quantitative reserve on nonresidential mortgage loans and an increase in the qualitative reserve on multi-family mortgage loans.

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, 2024 and 2023:


	Three Months Ended December 31,				Six Months Ended December 31,
	2024		2023		2024		2023
	(In Thousands)
Balance at beginning of the period	$	1,069	$	667	$	796	$	741
(Reversal of) provision for credit losses	(116)		(100)		157		(174)
Balance at end of the period	$	953	$	567	$	953	$	567