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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Those assets and liabilities measured at fair value on a recurring basis are summarized below:

			December 31, 2024
			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Total
			(In Thousands)
Assets:
Debt securities available for sale:
Asset-backed securities			$	—					$	72,079					$	—					$	72,079
Collateralized loan obligations			—						333,065						—						333,065
Corporate bonds			—						137,575						—						137,575
Total debt securities			—						542,719						—						542,719
Mortgage-backed securities available for sale:
Residential pass-through securities			—						343,173						—						343,173
Commercial pass-through securities			—						132,387						—						132,387
Total mortgage-backed securities			—						475,560						—						475,560
Total securities available for sale			$	—					$	1,018,279					$	—					$	1,018,279
Interest rate contracts			$	—					$	32,110					$	—					$	32,110
Total assets			$	—					$	1,050,389					$	—					$	1,050,389
Liabilities:
Interest rate contracts			$	—					$	497					$	—					$	497
Total liabilities			$	—					$	497					$	—					$	497

			June 30, 2024
			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Total
			(In Thousands)
Assets:
Debt securities available for sale:
Asset-backed securities			$	—					$	80,440					$	—					$	80,440
Collateralized loan obligations			—						389,543						—						389,543
Corporate bonds			—						131,797						—						131,797
Total debt securities			—						601,780						—						601,780
Mortgage-backed securities available for sale:
Residential pass-through securities			—						337,264						—						337,264
Commercial pass-through securities			—						133,789						—						133,789
Total mortgage-backed securities			—						471,053						—						471,053
Total securities available for sale			$	—					$	1,072,833					$	—					$	1,072,833
Interest rate contracts			$	—					$	54,362					$	—					$	54,362
Total assets			$	—					$	1,127,195					$	—					$	1,127,195

Schedule of Assets Measured at Fair Value on a Non-recurring Basis

Those assets measured at fair value on a non-recurring basis are summarized below:

			December 31, 2024
			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Total
			(In Thousands)
Collateral dependent loans:
Multi-family mortgage			$	—					$	—					$	1,896					$	1,896
Nonresidential mortgage			—						—						5,022						5,022
Total			$	—					$	—					$	6,918					$	6,918

			June 30, 2024
			Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)						Total
			(In Thousands)
Collateral dependent loans:
Multi-family mortgage			$	—					$	—					$	1,896					$	1,896
Nonresidential mortgage			—						—						5,014						5,014
Total			$	—					$	—					$	6,910					$	6,910

Schedule of Quantitative Information about Level 3 Fair Value Measurements

The following tables present additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized adjusted Level 3 inputs to determine fair value:

			December 31, 2024
			Fair Value						Valuation Techniques						Unobservable Input						Range						Weighted Average
			(Dollars in Thousands)
Collateral dependent loans:
Multi-family mortgage			$	1,896					Market valuation of underlying collateral			(1)			Adjustments to reflect current conditions/selling costs			(2)			13.75%						13.75		%
Nonresidential mortgage			5,022						Market valuation of underlying collateral			(1)			Adjustments to reflect current conditions/selling costs			(2)			8.76%						8.76		%
Total			$	6,918

			June 30, 2024
			Fair Value						Valuation Techniques						Unobservable Input						Range						Weighted Average
			(Dollars in Thousands)
Collateral dependent loans:
Multi-family mortgage			$	1,896					Market valuation of underlying collateral			(1)			Adjustments to reflect current conditions/selling costs			(2)			13.32%						13.32		%
Nonresidential mortgage			5,014						Market valuation of underlying collateral			(1)			Adjustments to reflect current conditions/selling costs			(2)			8.93%						8.93		%
Total			$	6,910

___________________________________

(1)The fair value of collateral dependent loans is generally determined based on an independent appraisal of the fair value of a loan’s underlying collateral.

(2)The fair value basis of collateral dependent loans is adjusted to reflect management’s estimates of selling costs including, but not limited to, real estate brokerage commissions and title transfer fees.

Schedule of Carrying Amounts and Fair Values of Financial Instruments

The following tables present the carrying amount, fair value, and placement in the fair value hierarchy of the Company’s financial instruments as of December 31, 2024 and June 30, 2024:

			December 31, 2024
			Carrying Amount						Fair Value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
			(In Thousands)
Financial assets:
Cash and cash equivalents			$	141,554					$	141,554					$	141,554					$	—					$	—
Investment securities available for sale			1,018,279						1,018,279						—						1,018,279						—
Investment securities held to maturity			127,266						111,284						—						111,284						—
Loans held-for-sale			5,695						5,691						—						5,691						—
Net loans receivable			5,747,301						5,169,294						—						—						5,169,294
FHLB Stock			64,443						—						—						—						—
Interest receivable			27,772						27,772						23						7,437						20,312
Interest rate contracts			32,110						32,110						—						32,110						—
Financial liabilities:
Deposits other than certificates of deposits			3,724,184						3,724,184						3,724,184						—						—
Certificates of deposits			1,946,876						1,940,887						—						—						1,940,887
Borrowings			1,258,949						1,256,312						—						—						1,256,312
Interest payable on deposits			6,866						6,866						3,205						—						3,661
Interest payable on borrowings			3,481						3,481						—						—						3,481
Interest rate contracts			497						497						—						497						—

			June 30, 2024
			Carrying Amount						Fair Value						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
			(In Thousands)
Financial assets:
Cash and cash equivalents			$	63,864					$	63,864					$	63,864					$	—					$	—
Investment securities available for sale			1,072,833						1,072,833						—						1,072,833						—
Investment securities held to maturity			135,742						119,278						—						119,278						—
Loans held-for-sale			6,036						6,077						—						6,077						—
Net loans receivable			5,687,848						5,114,459						—						—						5,114,459
FHLB Stock			80,300						—						—						—						—
Interest receivable			29,521						29,521						11						8,986						20,524
Interest rate contracts			54,362						54,362						—						54,362						—
Financial liabilities:
Deposits other than certificates of deposits			3,550,762						3,550,762						3,550,762						—						—
Certificates of deposits			1,607,361						1,597,939						—						—						1,597,939
Borrowings			1,709,789						1,703,924						—						—						1,703,924
Interest payable on deposits			5,662						5,662						3,397						—						2,265
Interest payable on borrowings			7,784						7,784						—						—						7,784

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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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