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INVESTMENT SECURITIES (Tables)
 6 Months Ended
Dec. 31, 2023
INVESTMENT SECURITIES  
Summary of amortized cost and estimated fair value of securities

The amortized cost and estimated fair value of securities available for sale are as follows (dollars in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Estimated

​

    

Cost

    

Gains

    

Losses

    

Fair Value

December 31, 2023

 

​

  

 

​

  

​

​

​

 

​

  

U.S. Government and agency obligations

​

$

301,442

​

$

319

​

$

(5,971)

​

$

295,790

Municipal obligations

​

 

24,071

​

 

60

​

 

(2)

​

 

24,129

Other debt securities

​

​

235

​

​

312

​

​

(69)

​

​

478

Total available for sale securities

​

$

325,748

​

$

691

​

$

(6,042)

​

$

320,397

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 2023

​

​

​

​

​

​

​

​

​

​

​

​

U.S. Government and agency obligations

​

$

396,464

​

$

2

​

$

(18,737)

​

$

377,729

Municipal obligations

​

 

53,492

​

 

9

​

 

(67)

​

 

53,434

Other debt securities

​

​

261

​

​

309

​

​

(66)

​

​

504

Total available for sale securities

​

$

450,217

​

$

320

​

$

(18,870)

​

$

431,667
Summary of amortized cost and estimated fair value of held to maturity securities

The amortized cost and estimated fair value of securities held to maturity are as follows (dollars in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

​

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Estimated

​

Allowance for

​

Net Carrying

​

    

Cost

    

Gains

    

Losses

    

Fair Value

    

Credit Losses

    

Value

December 31, 2023

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Corporate debt securities

​

$

20,000

​

$

—

​

$

(1,434)

​

$

18,566

​

$

238

​

$

19,762

Municipal obligations

​

​

3,792

​

​

—

​

​

(85)

​

​

3,707

​

​

—

​

​

3,792

Total held to maturity securities

​

$

23,792

​

$

—

​

$

(1,519)

​

$

22,273

​

$

238

​

$

23,554

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 2023

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Corporate debt securities

​

$

20,000

​

$

—

​

$

(2,049)

​

$

17,951

​

$

—

​

$

20,000

Municipal obligations

​

​

3,949

​

​

—

​

​

(156)

​

​

3,793

​

​

—

​

​

3,949

Total held to maturity securities

​

$

23,949

​

$

—

​

$

(2,205)

​

$

21,744

​

$

—

​

$

23,949
Summary of allowance for credit losses on securities held to maturity

The following tables present the activity in the allowance for credit losses on securities held-to-maturity (dollars in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

For the Three Months Ended December 31, 2023

​

​

Beginning

​

​

​

​

​

​

​

Ending

​

    

Balance

    

Provisions

    

Charge-offs

    

Recoveries

    

Balance

Corporate debt securities

​

$

—

​

$

238

​

$

—

​

$

—

​

$

238

Municipal obligations

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total allowance for credit losses on securities held to maturity

​

$

—

​

$

238

​

$

—

​

$

—

​

$

238

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

For the Six Months Ended December 31, 2023

​

​

Beginning

​

​

​

​

​

​

​

Ending

​

    

Balance

    

Provisions

    

Charge-offs

    

Recoveries

    

Balance

Corporate debt securities

​

$

—

​

$

238

​

$

—

​

$

—

​

$

238

Municipal obligations

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total allowance for credit losses on securities held to maturity

​

$

—

​

$

238

​

$

—

​

$

—

​

$

238
Summary of estimated fair value and gross unrealized losses aggregated by security category and length of time such securities have been in a continuous unrealized loss position

The estimated fair value and gross unrealized losses aggregated by security category and length of time such securities have been in a continuous unrealized loss position, is summarized as follows (dollars in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2023

​

​

Less than 12 Months

​

12 Months or Longer

​

Total

​

​

Estimated

​

Unrealized

​

Estimated

​

Unrealized

​

Estimated

​

Unrealized

​

    

Fair Value

    

Losses

    

Fair Value

    

Losses

    

Fair Value

    

Losses

Securities available for sale:

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

U.S. Government and agency obligations

​

$

—

​

$

—

​

$

242,249

​

$

(5,971)

​

$

242,249

​

$

(5,971)

Municipal obligations

​

 

3,158

​

 

(2)

​

 

—

​

 

—

​

 

3,158

​

 

(2)

Other debt securities

​

 

—

​

 

—

​

 

108

​

​

(69)

​

 

108

​

 

(69)

​

​

$

3,158

​

$

(2)

​

$

242,357

​

$

(6,040)

​

$

245,515

​

$

(6,042)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Securities held to maturity:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Corporate debt securities

​

$

—

​

$

—

​

$

18,566

​

$

(1,434)

​

$

18,566

​

$

(1,434)

Municipal obligations

​

​

—

​

​

—

​

​

3,707

​

​

(85)

​

​

3,707

​

​

(85)

​

​

$

—

​

$

—

​

$

22,273

​

$

(1,519)

​

$

22,273

​

$

(1,519)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 2023

​

​

Less than 12 Months

​

12 Months or Longer

​

Total

​

​

Estimated

​

Unrealized

​

Estimated

​

Unrealized

​

Estimated

​

Unrealized

​

    

Fair Value

    

Losses

    

Fair Value

    

Losses

    

Fair Value

​

Losses

Securities available for sale:

​

​

​

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

U.S. Government and agency obligations

​

$

104,145

​

$

(1,975)

​

$

268,782

​

$

(16,762)

​

$

372,927

​

$

(18,737)

Municipal obligations

​

 

47,781

​

 

(67)

​

 

—

​

 

—

​

 

47,781

​

 

(67)

Other debt securities

​

 

14

​

 

(1)

​

 

107

​

 

(65)

​

 

121

​

 

(66)

​

​

$

151,940

​

$

(2,043)

​

$

268,889

​

$

(16,827)

​

$

420,829

​

$

(18,870)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Securities held to maturity:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Corporate debt securities

​

$

—

​

$

—

​

$

17,951

​

$

(2,049)

​

$

17,951

​

$

(2,049)

Municipal obligations

​

​

—

​

​

—

​

​

3,793

​

​

(156)

​

​

3,793

​

​

(156)

​

​

$

—

​

$

—

​

$

21,744

​

$

(2,205)

​

$

21,744

​

$

(2,205)
Summary of fair value of debt securities and carrying amount, if different, by contractual maturity

The fair value of debt securities and carrying amount, if different, by contractual maturity were as follows (dollars in thousands). Securities not due at a single maturity date are shown separately.

​

​

​

​

​

​

​

​

 

December 31, 2023

​

 

Amortized

 

Estimated

​

    

Cost

    

Fair Value

Securities available for sale:

 

​

  

 

​

  

Due in one year or less

​

$

144,312

​

$

142,007

Due after one to five years

​

 

181,201

​

 

177,912

Other debt securities

​

 

235

​

 

478

​

​

$

325,748

​

$

320,397

​

​

​

​

​

​

​

Securities held to maturity:

​

 

  

​

 

  

Due in one year or less

​

$

2,369

​

$

2,284

Due after one to five years

​

 

1,423

​

 

1,423

Due after five to ten years

​

 

20,000

​

 

18,566

​

​

$

23,792

​

$

22,273