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DERIVATIVES (Tables)
 6 Months Ended
Dec. 31, 2020
DERIVATIVES  
Schedule of offsetting of derivative assets and liabilities

The estimated fair value of derivatives not designated as hedging instruments are as follows (dollars in thousands):

 

 

 

 

 

 

 

 

 

December 31, 2020

 

    

Derivative 

    

Derivative 

 

 

Assets

 

Liabilities

Gross interest rate swaps

 

$

36,931

 

$

36,931

Less: master netting arrangements

 

 

(500)

 

 

(500)

Less: cash collateral applied

 

 

 —

 

 

(36,012)

Net amount

 

$

36,431

 

$

419

 

 

 

 

 

 

 

 

 

 

June 30, 2020

 

    

Derivative 

    

Derivative 

 

 

Assets

 

Liabilities

Gross interest rate swaps

 

$

42,922

 

$

42,922

Less: master netting arrangements

 

 

 —

 

 

 —

Less: cash collateral applied

 

 

 —

 

 

(42,922)

Net amount

 

$

42,922

 

$

 —