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Income Taxes | 6 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Income Taxes | NOTE 13 – INCOME TAXES The components of income tax expense are as follows:
| Three Months Ended December 31, |  |  | Six Months Ended December 31, |
(In thousands) | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Current income tax expense | $ | 2,214 |  |  | $ | 1,545 |  |  | $ | 3,120 |  |  | $ | 2,907 |
Deferred income tax expense (benefit) |  | (51 | ) |  |  | (1,141 | ) |  |  | 188 |  |  |  | (1,489 | )
Income tax expense | $ | 2,163 |  |  | $ | 404 |  |  | $ | 3,308 |  |  | $ | 1,418 |
The Company’s effective tax rate is 25.4% and 28.2% for the six months ended December 31, 2024 and 2023, respectively. Income tax expense for the six months ended December 31, 2024 is higher than the U.S. federal statutory rate due to jurisdictional mix of income and state taxes. Income tax expense for the six months ended December 31, 2023 is higher than the U.S. federal statutory rate due to jurisdictional mix of income and state taxes, and reduced by share-based compensation, which was discretely recognized in the six month period and was not a component of the Company’s annualized forecasted effective tax rate. The Company does not have any uncertain tax positions.

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