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LOANS RECEIVABLE (Tables)

6 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Schedule of Loans Receivable

The following table sets forth the composition of the Company’s loan portfolio at December 31, 2024 and June 30, 2024:

			December 31, 2024						June 30, 2024
			(In Thousands)
Commercial loans:
Multi-family mortgage			$	2,722,623					$	2,645,851
Nonresidential mortgage			950,194						948,075
Commercial business			135,740						142,747
Construction			176,704						209,237
Total commercial loans			3,985,261						3,945,910
One- to four-family residential mortgage			1,765,160						1,756,051
Consumer loans:
Home equity loans			47,101						44,104
Other consumer			2,778						2,685
Total consumer loans			49,879						46,789
Total loans			5,800,300						5,748,750
Unaccreted yield adjustments (1)			(8,542)						(15,963)
Total loans receivable, net of yield adjustments			$	5,791,758					$	5,732,787

___________________________

(1)At December 31, 2024 and June 30, 2024, 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 December 31, 2024 and June 30, 2024, by loan segment:

			Payment Status December 31, 2024
			30-59 Days						60-89 Days						90 Days and Over						Total Past Due						Current						Total
			(In Thousands)
Multi-family mortgage			$	—					$	3,367					$	10,532					$	13,899					$	2,708,724					$	2,722,623
Nonresidential mortgage			—						260						5,371						5,631						944,563						950,194
Commercial business			126						—						468						594						135,146						135,740
Construction			—						—						—						—						176,704						176,704
One- to four-family residential mortgage			2,906						2,663						1,565						7,134						1,758,026						1,765,160
Home equity loans			87						—						117						204						46,897						47,101
Other consumer			3						—						—						3						2,775						2,778
Total loans			$	3,122					$	6,290					$	18,053					$	27,465					$	5,772,835					$	5,800,300

			Payment Status June 30, 2024
			30-59 Days						60-89 Days						90 Days and Over						Total Past Due						Current						Total
			(In Thousands)
Multi-family mortgage			$	—					$	—					$	19,888					$	19,888					$	2,625,963					$	2,645,851
Nonresidential mortgage			6,149						—						3,249						9,398						938,677						948,075
Commercial business			37						64						613						714						142,033						142,747
Construction			—						—						—						—						209,237						209,237
One- to four-family residential mortgage			800						2,951						2,877						6,628						1,749,423						1,756,051
Home equity loans			208						—						44						252						43,852						44,104
Other consumer			—						—						5						5						2,680						2,685
Total loans			$	7,194					$	3,015					$	26,676					$	36,885					$	5,711,865					$	5,748,750

Performance Status of Loans Receivable

The following tables present information relating to the Company’s nonperforming loans as of December 31, 2024 and June 30, 2024:

			Performance Status December 31, 2024
			90 Days and Over Past Due Accruing						Nonaccrual Loans with Allowance for Credit Losses						Nonaccrual Loans with no Allowance for Credit Losses						Total Nonperforming						Performing						Total
			(In Thousands)
Multi-family mortgage			$	—					$	3,367					$	21,847					$	25,214					$	2,697,409					$	2,722,623
Nonresidential mortgage			—						5,029						1,498						6,527						943,667						950,194
Commercial business			—						468						30						498						135,242						135,740
Construction			—						—						—						—						176,704						176,704
One- to four-family residential mortgage			—						704						4,636						5,340						1,759,820						1,765,160
Home equity loans			—						77						41						118						46,983						47,101
Other consumer			—						—						—						—						2,778						2,778
Total loans			$	—					$	9,645					$	28,052					$	37,697					$	5,762,603					$	5,800,300

			Performance Status June 30, 2024
			90 Days and Over Past Due Accruing						Nonaccrual Loans with Allowance for Credit Losses						Nonaccrual Loans with no Allowance for Credit Losses						Total Nonperforming						Performing						Total
			(In Thousands)
Multi-family mortgage			$	—					$	—					$	22,591					$	22,591					$	2,623,260					$	2,645,851
Nonresidential mortgage			—						5,695						4,128						9,823						938,252						948,075
Commercial business			—						714						—						714						142,033						142,747
Construction			—						—						—						—						209,237						209,237
One- to four-family residential mortgage			—						2,295						4,410						6,705						1,749,346						1,756,051
Home equity loans			—						—						44						44						44,060						44,104
Other consumer			—						—						5						5						2,680						2,685
Total loans			$	—					$	8,704					$	31,178					$	39,882					$	5,708,868					$	5,748,750

Troubled Debt Restructurings of Loans Receivable

The following tables presents the amortized cost basis at December 31, 2024 and December 31, 2023 of loan modifications made to borrowers experiencing financial difficulty that were restructured during the three and six months ended December 31, 2024 and 2023, by type of modification:

			Three Months Ended December 31, 2024
			Payment Delay						Term Extension						Payment Delay, Term Extension, and Interest Rate Reductions						Total						Percent of Total Class
			(Dollars In Thousands)
Multi-family mortgage			$	15,480					$	—					$	—					$	15,480					0.57		%
Total			$	15,480					$	—					$	—					$	15,480

			Six Months Ended December 31, 2024
			Payment Delay						Term Extension						Payment Delay, Term Extension, and Interest Rate Reductions						Total						Percent of Total Class
			(Dollars In Thousands)
Multi-family mortgage			$	24,262					$	—					$	2,666					$	26,928					0.99		%
Nonresidential mortgage			178						—						—						178						0.02		%
Total			$	24,440					$	—					$	2,666					$	27,106

			Three Months Ended December 31, 2023
			Payment Delay						Term Extension						Payment Delay, Term Extension, and Interest Rate Reductions						Total						Percent of Total Class
			(Dollars In Thousands)
Multi-family mortgage			$	2,774					$	—					$	—					$	2,774					0.10		%
One- to four-family residential mortgage			—						45						—						45						0.00		%
Home equity loans			—						25						—						25						0.06		%
Total			$	2,774					$	70					$	—					$	2,844

			Six Months Ended December 31, 2023
			Payment Delay						Term Extension						Payment Delay, Term Extension, and Interest Rate Reductions						Total						Percent of Total Class
			(Dollars In Thousands)
Multi-family mortgage			$	2,774					$	—					$	—					$	2,774					0.10		%
Commercial business			45						—						—						45						0.03		%
One- to four-family residential mortgage			489						45						—						534						0.03		%
Home equity loans			—						25						—						25						0.06		%
Total			$	3,308					$	70					$	—					$	3,378

The following tables presents the payment status of the loans that were modified to borrowers experiencing financial difficulties in the last twelve months:

			December 31, 2024
			Current						30-89 Days Past Due						90 Days or More Past Due						Total Past Due						Non-Accrual
			(Dollars In Thousands)
Multi-family mortgage			$	24,154					$	—					$	—					$	—					$	8,674
Nonresidential mortgage			895						—						—						—						895
One- to four-family residential mortgage			452						—						—						—						452
Total			$	25,501					$	—					$	—					$	—					$	10,021

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:

			December 31, 2024												June 30, 2024
			Carrying Value						Related Allowance						Carrying Value						Related Allowance
			(In Thousands)
Commercial loans:
Multi-family mortgage			$	21,847					$	—					$	22,591					$	—
Nonresidential mortgage (1)			5,372						6						8,598						508
Total commercial loans			27,219						6						31,189						508
One- to four-family residential mortgage (2)			2,180						—						1,406						—
Consumer loans:
Home equity loans (2)			17						—						18						—
Total			$	29,416					$	6					$	32,613					$	508

___________________________

(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 December 31, 2024 by loan segment and vintage year:

			Term Loans by Origination Year for Fiscal Years ended June 30,
			2025						2024						2023						2022						2021						Prior						Revolving Loans						Total
			(In Thousands)
Multi-family mortgage:
Pass			$	94,993					$	26,561					$	612,266					$	940,459					$	220,974					$	765,860					$	—					$	2,661,113
Special Mention			—						—						—						—						—						5,676						—						5,676
Substandard			—						—						—						—						9,456						46,378						—						55,834
Doubtful			—						—						—						—						—						—						—						—
Total multi-family mortgage			94,993						26,561						612,266						940,459						230,430						817,914						—						2,722,623
Multi-family current period gross charge-offs			—						—						—						—						—						—						—						—
Nonresidential mortgage:
Pass			49,943						82,077						104,404						196,849						109,010						378,121						—						920,404
Special Mention			—						—						—						—						955						16,925						—						17,880
Substandard			—						—						—						—						862						11,048						—						11,910
Doubtful			—						—						—						—						—						—						—						—
Total nonresidential mortgage			49,943						82,077						104,404						196,849						110,827						406,094						—						950,194
Nonresidential current period gross charge-offs			—						—						—						—						—						498						—						498
Commercial business:
Pass			5,373						11,313						6,698						22,233						15,709						10,222						60,657						132,205
Special Mention			—						—						—						1,228						138						167						—						1,533
Substandard			—						—						—						—						96						1,789						117						2,002
Doubtful			—						—						—						—						—						—						—						—
Total commercial business			5,373						11,313						6,698						23,461						15,943						12,178						60,774						135,740
Commercial current period gross charge-offs			—						—						—						—						—						202						—						202
Construction loans:
Pass			17,486						73,073						8,440						10,360						30,574						6,042						5,735						151,710
Special Mention			—						—						—						—						—						—						—						—
Substandard			—						4,500						—						—						20,494						—						—						24,994
Doubtful			—						—						—						—						—						—						—						—
Total construction loans			17,486						77,573						8,440						10,360						51,068						6,042						5,735						176,704
Construction current period gross charge-offs			—						—						—						—						—						—						—						—
Residential mortgage:
Pass			86,804						169,908						181,358						420,989						445,872						448,332						75						1,753,338
Special Mention			—						—						—						—						—						311						—						311
Substandard			—						—						493						781						193						10,044						—						11,511
Doubtful			—						—						—						—						—						—						—						—
Total residential mortgage			86,804						169,908						181,851						421,770						446,065						458,687						75						1,765,160
Residential current period gross charge-offs			—						—						—						—						—						2						—						2
Home equity loans:
Pass			961						1,866						4,870						1,918						323						8,126						28,568						46,632
Special Mention			—						—						—						—						—						—						98						98
Substandard			—						—						—						87						—						207						77						371
Doubtful			—						—						—						—						—						—						—						—
Total home equity loans			961						1,866						4,870						2,005						323						8,333						28,743						47,101
Home equity current period gross charge-offs			—						—						—						—						—						2						—						2
Other consumer loans
Pass			493						460						205						124						250						1,115						35						2,682
Special Mention			—						—						—						—						—						—						—						—
Substandard			—						—						—						—						—						—						—						—
Doubtful			—						—						—						—						—						—						96						96
Other consumer loans			493						460						205						124						250						1,115						131						2,778
Other consumer current period gross charge-offs			—						—						—						—						—						5						—						5
Total loans			$	256,053					$	369,758					$	918,734					$	1,595,028					$	854,906					$	1,710,363					$	95,458					$	5,800,300
Total current period gross charge-offs			$	—					$	—					$	—					$	—					$	—					$	709					$	—					$	709

The following table presents the risk category of loans as of June 30, 2024 by loan segment and vintage year:

			Term Loans by Origination Year for Fiscal Years ended June 30,
			2024						2023						2022						2021						2020						Prior						Revolving Loans						Total
			(In Thousands)
Multi-family mortgage:
Pass			$	26,683					$	596,321					$	949,690					$	219,850					$	201,611					$	607,332					$	—					$	2,601,487
Special Mention			—						—						—						—						—						6,475						—						6,475
Substandard			—						—						—						9,570						—						28,319						—						37,889
Doubtful			—						—						—						—						—						—						—						—
Total multi-family mortgage			26,683						596,321						949,690						229,420						201,611						642,126						—						2,645,851
Multi-family current period gross charge-offs			—						—						—						—						—						398						—						398
Nonresidential mortgage:
Pass			87,380						105,768						199,829						90,312						44,598						389,680						30						917,597
Special Mention			—						—						—						447						—						14,714						—						15,161
Substandard			—						—						—						867						—						14,450						—						15,317
Doubtful			—						—						—						—						—						—						—						—
Total nonresidential mortgage			87,380						105,768						199,829						91,626						44,598						418,844						30						948,075
Nonresidential current period gross charge-offs			—						—						—						—						—						5,975						—						5,975
Commercial business:
Pass			12,152						8,273						27,615						18,242						4,337						7,863						56,592						135,074
Special Mention			—						—						1,559						437						—						1,754						—						3,750
Substandard			—						—						—						—						1,767						2,003						153						3,923
Doubtful			—						—						—						—						—						—						—						—
Total commercial business			12,152						8,273						29,174						18,679						6,104						11,620						56,745						142,747
Commercial current period gross charge-offs			—						—						—						3,391						464						11						—						3,866
Construction loans:
Pass			51,261						45,180						14,284						62,584						2,602						3,647						5,735						185,293
Special Mention			3,450						—						—						20,494						—						—						—						23,944
Substandard			—						—						—						—						—						—						—						—
Doubtful			—						—						—						—						—						—						—						—
Total construction loans			54,711						45,180						14,284						83,078						2,602						3,647						5,735						209,237
Construction current period gross charge-offs			—						—						—						—						—						—						—						—
Residential mortgage:
Pass			185,034						184,737						431,346						458,696						77,442						406,677						291						1,744,223
Special Mention			—						—						—						—						—						1,453						—						1,453
Substandard			—						509						796						—						—						9,070						—						10,375
Doubtful			—						—						—						—						—						—						—						—
Total residential mortgage			185,034						185,246						432,142						458,696						77,442						417,200						291						1,756,051
Residential current period gross charge-offs			—						—						—						—						—						37						—						37
Home equity loans:
Pass			1,919						5,698						2,173						347						1,019						8,086						24,535						43,777
Special Mention			—						—						—						—						—						—						93						93
Substandard			—						—						—						—						—						234						—						234
Doubtful			—						—						—						—						—						—						—						—
Total home equity loans			1,919						5,698						2,173						347						1,019						8,320						24,628						44,104
Home equity current period gross charge-offs			—						—						—						—						—						—						—						—
Other consumer loans
Pass			804						211						204						127						224						990						39						2,599
Special Mention			—						—						—						—						—						—						—						—
Substandard			—						—						—						—						—						—						—						—
Doubtful			—						—						—						—						—						—						86						86
Other consumer loans			804						211						204						127						224						990						125						2,685
Other consumer current period gross charge-offs			—						—						—						—						—						—						—						—
Total loans			$	368,683					$	946,697					$	1,627,496					$	881,973					$	333,600					$	1,502,747					$	87,554					$	5,748,750
Total current period gross charge-offs			$	—					$	—					$	—					$	3,391					$	464					$	6,421					$	—					10,276

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