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SECURITIES (Tables)

6 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities Reconciliation

The following tables present the amortized cost, gross unrealized gains and losses and estimated fair values for available for sale securities and the amortized cost, gross unrecognized gains and losses and estimated fair values for held to maturity securities as of the dates indicated:

			December 31, 2024
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Allowance for Credit Losses						Fair Value
			(In Thousands)
Available for sale:
Debt securities:
Asset-backed securities			$	72,057					$	178					$	156					$	—					$	72,079
Collateralized loan obligations			331,273						1,812						20						—						333,065
Corporate bonds			150,853						242						13,520						—						137,575
Total debt securities			554,183						2,232						13,696						—						542,719
Mortgage-backed securities:
Residential pass-through securities (1)			435,956						4						92,787						—						343,173
Commercial pass-through securities (1)			154,440						116						22,169						—						132,387
Total mortgage-backed securities			590,396						120						114,956						—						475,560
Total securities available for sale			$	1,144,579					$	2,352					$	128,652					$	—					$	1,018,279

___________________________

(1)Government-sponsored enterprises.

			June 30, 2024
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Allowance for Credit Losses						Fair Value
			(In Thousands)
Available for sale:
Debt securities:
Asset-backed securities			$	80,305					$	217					$	82					$	—					$	80,440
Collateralized loan obligations			386,983						2,574						14						—						389,543
Corporate bonds			150,891						64						19,158						—						131,797
Total debt securities			618,179						2,855						19,254						—						601,780
Mortgage-backed securities:
Residential pass-through securities (1)			429,473						2						92,211						—						337,264
Commercial pass-through securities (1)			155,854						63						22,128						—						133,789
Total mortgage-backed securities			585,327						65						114,339						—						471,053
Total securities available for sale			$	1,203,506					$	2,920					$	133,593					$	—					$	1,072,833

___________________________

(1)Government-sponsored enterprises.

Amortized Cost, Gross Unrecognized Gains and Losses and Fair Values of Securities

			December 31, 2024
			Amortized Cost						Gross Unrecognized Gains						Gross Unrecognized Losses						Allowance for Credit Losses						Fair Value
			(In Thousands)
Held to maturity:
Debt securities:
Obligations of state and political subdivisions			$	9,486					$	2					$	157					$	—					$	9,331
Total debt securities			9,486						2						157						—						9,331
Mortgage-backed securities:
Residential pass-through securities (1)			105,582						—						13,866						—						91,716
Commercial pass-through securities (1)			12,198						—						1,961						—						10,237
Total mortgage-backed securities			117,780						—						15,827						—						101,953
Total securities held to maturity			$	127,266					$	2					$	15,984					$	—					$	111,284

___________________________

(1)Government-sponsored enterprises.

			June 30, 2024
			Amortized Cost						Gross Unrecognized Gains						Gross Unrecognized Losses						Allowance for Credit Losses						Fair Value
			(In Thousands)
Held to maturity:
Debt securities:
Obligations of state and political subdivisions			$	12,913					$	—					$	277					$	—					$	12,636
Total debt securities			12,913						—						277						—						12,636
Mortgage-backed securities:
Residential pass-through securities (1)			110,614						—						14,134						—						96,480
Commercial pass-through securities (1)			12,215						—						2,053						—						10,162
Total mortgage-backed securities			122,829						—						16,187						—						106,642
Total securities held to maturity			$	135,742					$	—					$	16,464					$	—					$	119,278

___________________________

(1)Government-sponsored enterprises.

Stratification by Contractual Maturity of Securities

Excluding the balances of mortgage-backed securities, the following tables present the amortized cost and estimated fair values of debt securities available for sale and held to maturity, by contractual maturity, at December 31, 2024:

			December 31, 2024
			Amortized Cost						Fair Value
			(In Thousands)
Available for sale debt securities:
Due in one year or less			$	—					$	—
Due after one year through five years			33,890						32,699
Due after five years through ten years			388,248						379,584
Due after ten years			132,045						130,436
Total			$	554,183					$	542,719

			December 31, 2024
			Amortized Cost						Fair Value
			(In Thousands)
Held to maturity debt securities:
Due in one year or less			$	3,978					$	3,962
Due after one year through five years			5,508						5,369
Due after five years through ten years			—						—
Due after ten years			—						—
Total			$	9,486					$	9,331

Schedule of Available-for-Sale Securities Pledged

The carrying value of securities pledged were as follows as of the dates presented below:

			December 31, 2024						June 30, 2024
			(In Thousands)
Securities pledged:
Pledged to secure public funds on deposit			$	96,251					$	100,238
Pledged for potential borrowings at the Federal Reserve Bank of New York			800,127						482,044
Pledged for the bank term funding program			—						88,899
Total carrying value of securities pledged			$	896,378					$	671,181

Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value

The following tables present the gross unrealized losses on securities and the estimated fair value of the related securities, aggregated by investment category and length of time that securities have been in a continuous unrealized loss position within the available for sale portfolio at December 31, 2024 and June 30, 2024:

			December 31, 2024
			Less than 12 Months												12 Months or More												Total
			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Number of Securities						Fair Value						Unrealized Losses
			(Dollars in Thousands)
Securities Available for Sale:
Asset-backed securities			$	27,264					$	42					$	21,788					$	114					9						$	49,052					$	156
Collateralized loan obligations			37,521						12						14,992						8						3						52,513						20
Corporate bonds			—						—						127,332						13,520						26						127,332						13,520
Commercial pass-through securities			—						—						109,504						22,169						7						109,504						22,169
Residential pass-through securities			22,077						409						320,754						92,378						104						342,831						92,787
Total			$	86,862					$	463					$	594,370					$	128,189					149						$	681,232					$	128,652

			June 30, 2024
			Less than 12 Months												12 Months or More												Total
			Fair Value						Unrealized Losses						Fair Value						Unrealized Losses						Number of Securities						Fair Value						Unrealized Losses
			(Dollars in Thousands)
Securities Available for Sale:
Asset-backed securities			$	14,093					$	16					$	43,411					$	66					8						$	57,504					$	82
Collateralized loan obligations			3,863						—						24,986						14						4						28,849						14
Corporate bonds			—						—						121,733						19,158						26						121,733						19,158
Commercial pass-through securities			—						—						110,741						22,128						8						110,741						22,128
Residential pass-through securities			141						2						336,772						92,209						103						336,913						92,211
Total			$	18,097					$	18					$	637,643					$	133,575					149						$	655,740					$	133,593

Schedule of Unrealized Loss on Investments

The following table presents the gross unrecognized losses on securities and the estimated fair value of the related securities, aggregated by investment category and length of time that securities have been in a continuous unrecognized loss position within the held to maturity portfolio at December 31, 2024 and June 30, 2024:

			December 31, 2024
			Less than 12 Months												12 Months or More												Total
			Fair Value						Unrecognized Losses						Fair Value						Unrecognized Losses						Number of Securities						Fair Value						Unrecognized Losses
			(Dollars in Thousands)
Securities Held to Maturity:
Obligations of state and political subdivisions			$	454					$	9					$	8,634					$	148					16						$	9,088					$	157
Commercial pass-through securities			—						—						10,237						1,961						1						10,237						1,961
Residential pass-through securities			32,993						321						58,723						13,545						9						91,716						13,866
Total			$	33,447					$	330					$	77,594					$	15,654					26						$	111,041					$	15,984

			June 30, 2024
			Less than 12 Months												12 Months or More												Total
			Fair Value						Unrecognized Losses						Fair Value						Unrecognized Losses						Number of Securities						Fair Value						Unrecognized Losses
			(Dollars in Thousands)
Securities Held to Maturity:
Obligations of state and political subdivisions			$	449					$	14					$	11,886					$	263					23						$	12,335					$	277
Commercial pass-through securities			—						—						10,162						2,053						1						10,162						2,053
Residential pass-through securities			35,287						327						61,193						13,807						9						96,480						14,134
Total			$	35,736					$	341					$	83,241					$	16,123					33						$	118,977					$	16,464

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