Provident Financial (PROV) 10-Q 8 Feb 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Dec. 31, 2020	Jan. 31, 2021
Document and Entity Information
Document Type	10-Q
Document Period End Date	Dec. 31, 2020
Entity Registrant Name	PROVIDENT FINANCIAL HOLDINGS INC
Title of 12(g) Security	Common stock, par value $0.01 per share
Trading Symbol	PROV
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		7,442,254
Entity Central Index Key	0001010470
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Assets
Cash and cash equivalents	$ 74,001	$ 116,034
Investment securities - held to maturity, at cost	203,098	118,627
Investment securities - available for sale, at fair value	4,158	4,717
Loans held for investment, net of allowance for loan losses of $8,538 and $8,265, respectively; includes $1,972 and $2,258 at fair value, respectively	855,086	902,796
Accrued interest receivable	3,126	3,271
Federal Home Loan Bank ("FHLB") - San Francisco stock	7,970	7,970
Premises and equipment, net	9,980	10,254
Prepaid expenses and other assets	13,308	13,168
Total assets	1,170,727	1,176,837
Liabilities:
Non interest-bearing deposits	109,609	118,771
Interest-bearing deposits	800,359	774,198
Total deposits	909,968	892,969
Borrowings	116,015	141,047
Accounts payable, accrued interest and other liabilities	19,760	18,845
Total liabilities	1,045,743	1,052,861
Commitments and Contingencies (Notes 6 and 10)
Stockholders' equity:
Preferred stock, $.01 par value (2,000,000 shares authorized; none issued and outstanding)
Common stock, $.01 par value (40,000,000 shares authorized; 18,097,615 and 18,097,615 shares issued; 7,442,254 and 7,436,315 shares outstanding, respectively)	181	181
Additional paid-in capital	96,164	95,593
Retained earnings	194,923	194,345
Treasury stock at cost (10,655,361 and 10,661,300 shares, respectively)	(166,364)	(166,247)
Accumulated other comprehensive income, net of tax	80	104
Total stockholders' equity	124,984	123,976
Total liabilities and stockholders' equity	$ 1,170,727	$ 1,176,837

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Condensed Consolidated Statements of Financial Condition
Allowance for loan losses on Loans held for investment (in dollars)	$ 8,538	$ 8,265
Loans held for investment fair value (in dollars)	$ 1,972	$ 2,258
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock shares authorized	2,000,000	2,000,000
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized	40,000,000	40,000,000
Common stock shares issued	18,097,615	18,097,615
Common stock shares outstanding	7,442,254	7,436,315
Treasury stock shares	10,655,361	10,661,300

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Interest income:
Loans receivable, net	$ 8,344	$ 10,320	$ 17,261	$ 20,395
Investment securities	448	567	926	1,181
FHLB - San Francisco stock	100	145	200	288
Interest-earning deposits	17	189	41	435
Total interest income	8,909	11,221	18,428	22,299
Interest expense:
Checking and money market deposits	79	117	170	227
Savings deposits	54	131	132	265
Time deposits	335	530	717	1,062
Borrowings	803	804	1,605	1,524
Total interest expense	1,271	1,582	2,624	3,078
Net interest income	7,638	9,639	15,804	19,221
Provision (recovery) for loan losses	39	(22)	259	(203)
Net interest income, after provision (recovery) for loan losses	7,599	9,661	15,545	19,424
Non-interest income:
Other	157	155	237	255
Total non-interest income	974	1,344	2,133	2,414
Non-interest expense:
Salaries and employee benefits	4,301	4,999	8,744	9,984
Premises and occupancy	865	880	1,768	1,758
Equipment	273	262	548	541
Professional expenses	402	331	816	739
Sales and marketing expenses	227	212	340	329
Deposit insurance premiums and regulatory assessments	141	59	275	43
Other	707	811	1,410	1,398
Total non-interest expense	6,916	7,554	13,901	14,792
Income before income taxes	1,657	3,451	3,777	7,046
Provision for income taxes	481	1,053	1,116	2,086
Net income	$ 1,176	$ 2,398	$ 2,661	$ 4,960
Basic earnings per share	$ 0.16	$ 0.32	$ 0.36	$ 0.66
Diluted earnings per share	0.16	0.31	0.36	0.65
Cash dividends per share (in dollars per share)	$ 0.14	$ 0.14	$ 0.28	$ 0.28
Loan servicing and other fees
Non-interest income:
Total non-interest income	$ 120	$ 367	$ 525	$ 500
Deposit account fees
Non-interest income:
Total non-interest income	329	451	639	898
Card and processing fees
Non-interest income:
Total non-interest income	$ 368	$ 371	$ 732	$ 761

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Condensed Consolidated Statements of Comprehensive Income
Net income	$ 1,176	$ 2,398	$ 2,661	$ 4,960
Change in unrealized holding loss on securities available for sale	(27)	(21)	(34)	(40)
Reclassification adjustment for net loss on securities available for sale included in net loss	0	0	0	0
Other comprehensive loss, before income taxes	(27)	(21)	(34)	(40)
Income tax benefit	(8)	(6)	(10)	(12)
Other comprehensive loss	(19)	(15)	(24)	(28)
Total comprehensive income	$ 1,157	$ 2,383	$ 2,637	$ 4,932

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands		Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income (Loss), Net of Tax	Total
Balance at Jun. 30, 2019		$ 181	$ 94,351	$ 190,839	$ (164,891)	$ 161	$ 120,641
Balance (in shares) at Jun. 30, 2019		7,486,106
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				4,960			4,960
Other comprehensive loss						(28)	(28)
Purchase of treasury stock					(397)		(397)
Purchase of treasury stock (in shares)		(19,285)
Exercise of stock options			215				215
Exercise of stock options (in shares)		16,250
Forfeiture of restricted stock			72		(72)
Amortization of restricted stock			439				439
Stock options expense			41				41
Cash dividends	[1]			(2,095)			(2,095)
Balance at Dec. 31, 2019		$ 181	95,118	193,704	(165,360)	133	123,776
Balance (in shares) at Dec. 31, 2019		7,483,071
Balance at Sep. 30, 2019		$ 181	94,795	192,354	(165,309)	148	122,169
Balance (in shares) at Sep. 30, 2019		7,479,682
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				2,398			2,398
Other comprehensive loss						(15)	(15)
Purchase of treasury stock	[2]				(51)		(51)
Purchase of treasury stock (in shares)	[2]	(2,361)
Exercise of stock options			83				83
Exercise of stock options (in shares)		5,750
Amortization of restricted stock			219				219
Stock options expense			21				21
Cash dividends	[3]			(1,048)			(1,048)
Balance at Dec. 31, 2019		$ 181	95,118	193,704	(165,360)	133	123,776
Balance (in shares) at Dec. 31, 2019		7,483,071
Balance at Jun. 30, 2020		$ 181	95,593	194,345	(166,247)	104	$ 123,976
Balance (in shares) at Jun. 30, 2020		7,436,315					7,436,315
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				2,661			$ 2,661
Other comprehensive loss						(24)	(24)
Purchase of treasury stock	[4]				(36)		(36)
Purchase of treasury stock (in shares)	[4]	(3,061)
Distribution of restricted stock (in shares)		9,000
Forfeiture of restricted stock			81		(81)
Amortization of restricted stock			441				441
Stock options expense			49				49
Cash dividends	[5]			(2,083)			(2,083)
Balance at Dec. 31, 2020		$ 181	96,164	194,923	(166,364)	80	$ 124,984
Balance (in shares) at Dec. 31, 2020		7,442,254					7,442,254
Balance at Sep. 30, 2020		$ 181	95,948	194,789	(166,358)	99	$ 124,659
Balance (in shares) at Sep. 30, 2020		7,441,259
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income				1,176			1,176
Other comprehensive loss						(19)	(19)
Purchase of treasury stock	[6]				(6)		(6)
Purchase of treasury stock (in shares)	[6]	(505)
Distribution of restricted stock (in shares)		1,500
Amortization of restricted stock			200				200
Stock options expense			16				16
Cash dividends	[7]			(1,042)			(1,042)
Balance at Dec. 31, 2020		$ 181	$ 96,164	$ 194,923	$ (166,364)	$ 80	$ 124,984
Balance (in shares) at Dec. 31, 2020		7,442,254					7,442,254
[1]	Cash dividends of $0.28 per share were paid in the six months ended December 31, 2019.
[2]	Includes the purchase of 505 shares of distributed restricted stock in settlement of employee withholding tax obligations.
[3]	Cash dividends of $0.14 per share were paid in the quarter ended December 31, 2019.The accompanying notes are an integral part of these condensed consolidated financial statements.
[4]	Includes the purchase of 3,061 shares of distributed restricted stock in settlement of employee withholding tax obligations.
[5]	Cash dividends of $0.28 per share were paid in the six months ended December 31, 2020.
[6]	Includes the purchase of 505 shares of distributed restricted stock in settlement of employee withholding tax obligations.
[7]	Cash dividends of $0.14 per share were paid in the quarter ended December 31, 2020.

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2020
Cash dividends per share	$ 0.14	$ 0.28
Restricted Stock
Number of shares repurchase of distributed restricted stock in settlement of employee withholding tax obligations	505	3,061

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 2,661	$ 4,960
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	2,796	1,356
Provision (recovery) for loan losses	259	(203)
Stock-based compensation	490	480
(Benefit) provision for deferred income taxes	(344)	1,432
Increase (decrease) in accounts payable, accrued interest and other liabilities	952	(2,923)
Increase in prepaid expenses and other assets	(81)	(3,025)
Net cash provided by operating activities	6,733	2,077
Cash flows from investing activities:
Decrease (increase) in loans held for investment, net	46,464	(61,773)
Maturity of investment securities held to maturity	600
Principal payments from investment securities held to maturity	21,269	16,702
Principal payments from investment securities available for sale	527	695
Purchase of investment securities held to maturity	(107,230)
Purchase of premises and equipment	(207)	(148)
Net cash used for investing activities	(38,577)	(44,524)
Cash flows from financing activities:
Increase (decrease) in deposits, net	16,999	(7,621)
Repayments of short-term borrowings, net	(5,000)
Repayments of long-term borrowings	(20,032)	(29)
Proceeds from long-term borrowings		30,007
Exercise of stock options		215
Withholding taxes on stock based compensation	(37)	(32)
Cash dividends	(2,083)	(2,095)
Treasury stock purchases	(36)	(397)
Net cash (used for) provided by financing activities	(10,189)	20,048
Net decrease in cash and cash equivalents	(42,033)	(22,399)
Cash and cash equivalents at beginning of period	116,034	70,632
Cash and cash equivalents at end of period	74,001	48,233
Supplemental information:
Cash paid for interest	2,742	3,091
Cash paid for income taxes	$ 2,470	350
Transfer of loans held for sale to held for investment		$ 1,085

Basis of Presentation

Basis of Presentation	6 Months Ended
	Dec. 31, 2020
Basis of Presentation
Basis of Presentation	Note 1: Basis of Presentation The unaudited interim condensed consolidated financial statements included herein reflect all adjustments which are, in the opinion of management, necessary to present a fair statement of the results of operations for the interim periods presented. All such adjustments are of a normal, recurring nature. The condensed consolidated statement of financial condition at June 30, 2020 is derived from the audited consolidated financial statements of Provident Financial Holdings, Inc. and its wholly-owned subsidiary, Provident Savings Bank, F.S.B. (the "Bank") (collectively, the "Corporation"). Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission ("SEC") with respect to interim financial reporting. It is recommended that these unaudited interim condensed consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s Annual Report on Form 10‑K for the year ended June 30, 2020. The results of operations for the quarter and six months ended December 31, 2020 are not necessarily indicative of results that may be expected for the entire fiscal year ending June 30, 2021.

Accounting Standard Updates ("A

Accounting Standard Updates ("ASU")	6 Months Ended
	Dec. 31, 2020
Accounting Standard Updates ("ASU")
Accounting Standard Updates ("ASU")	Note 2: Accounting Standard Updates (“ASU”) There have been no accounting standard updates or changes in the status of their adoption that are significant to the Corporation as previously disclosed in Note 1 of the Corporation's Annual Report on Form 10-K for the year ended June 30, 2020, other than: ASU 2018-13: In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-13, “Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which modifies disclosure requirements on fair value measurements to improve their effectiveness.” The guidance permits entities to consider materiality when evaluating fair value measurement disclosures and, among other modifications, requires certain new disclosures related to Level 3 fair value measurements. This guidance will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. The guidance only affects disclosures in the notes to the condensed consolidated financial statements and will not otherwise affect the Corporation's Condensed Consolidated Financial Statements. The adoption of this ASU did not have a material impact on its condensed consolidated financial statements. See Note 7 for additional discussion.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Dec. 31, 2020
Earnings Per Share
Earnings Per Share	Note 3: Earnings Per Share Basic earnings per share ("EPS") excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the earnings of the Corporation. As of December 31, 2020 and 2019, there were outstanding options to purchase 549,000 shares and 554,500 shares of the Corporation’s common stock, respectively. Of those shares, as of December 31, 2020 and 2019, there were 135,000 shares and no shares, respectively, which were excluded from the diluted EPS computation as their effect was anti-dilutive. As of December 31, 2020 and 2019, there were outstanding restricted stock awards of 207,500 shares and 225,500 shares, respectively. The following table provides the basic and diluted EPS computations for the quarter and six months ended December 31, 2020 and 2019, respectively. For the Quarter Ended For the Six Months Ended December 31, December 31, (In Thousands, Except Earnings Per Share) 2020 2019 2020 2019 Numerator: Net income – numerator for basic earnings per share and diluted earnings per share - available to common stockholders $ 1,176 $ 2,398 $ 2,661 $ 4,960 Denominator: Denominator for basic earnings per share: Weighted-average shares 7,442 7,482 7,439 7,482 Effect of dilutive shares: Stock options 37 133 29 133 Restricted stock 13 43 7 36 Denominator for diluted earnings per share: Adjusted weighted-average shares and assumed conversions 7,492 7,658 7,475 7,651 Basic earnings per share $ 0.16 $ 0.32 $ 0.36 $ 0.66 Diluted earnings per share $ 0.16 $ 0.31 $ 0.36 $ 0.65

Investment Securities

Investment Securities	6 Months Ended
	Dec. 31, 2020
Investment Securities
Investment Securities	Note 4: Investment Securities The amortized cost and estimated fair value of investment securities as of December 31, 2020 and June 30, 2020 were as follows: Gross Gross Estimated Amortized Unrealized Unrealized Fair Carrying December 31, 2020 Cost Gains (Losses) Value Value (In Thousands) Held to maturity: U.S. government sponsored enterprise MBS (1) $ 200,195 $ 3,433 $ (63) $ 203,565 $ 200,195 U.S. SBA securities (2) 1,903 — (17) 1,886 1,903 Certificate of deposits 1,000 — — 1,000 1,000 Total investment securities - held to maturity $ 203,098 $ 3,433 $ (80) $ 206,451 $ 203,098 Available for sale: U.S. government agency MBS $ 2,463 $ 88 $ — $ 2,551 $ 2,551 U.S. government sponsored enterprise MBS 1,420 14 — 1,434 1,434 Private issue CMO (3) 174 — (1) 173 173 Total investment securities - available for sale $ 4,057 $ 102 $ (1) $ 4,158 $ 4,158 Total investment securities $ 207,155 $ 3,535 $ (81) $ 210,609 $ 207,256 (1) Mortgage-Backed Securities ("MBS"). (2) Small Business Administration ("SBA"). (3) Collateralized Mortgage Obligations ("CMO"). Gross Gross Estimated Amortized Unrealized Unrealized Fair Carrying June 30, 2020 Cost Gains (Losses) Value Value (In Thousands) Held to maturity: U.S. government sponsored enterprise MBS $ 115,763 $ 2,636 $ (45) $ 118,354 $ 115,763 U.S. SBA securities 2,064 — (17) 2,047 2,064 Certificate of deposits 800 — — 800 800 Total investment securities - held to maturity $ 118,627 $ 2,636 $ (62) $ 121,201 $ 118,627 Available for sale: U.S. government agency MBS $ 2,823 $ 120 $ — $ 2,943 $ 2,943 U.S. government sponsored enterprise MBS 1,556 21 — 1,577 1,577 Private issue CMO 204 — (7) 197 197 Total investment securities - available for sale $ 4,583 $ 141 $ (7) $ 4,717 $ 4,717 Total investment securities $ 123,210 $ 2,777 $ (69) $ 125,918 $ 123,344 In the second quarter of fiscal 2021 and 2020, the Corporation received MBS principal payments of $12.4 million and $8.1 million, respectively, and there were no sales of investment securities during these periods. The Corporation purchased $21.5 million of U.S. government sponsored enterprise MBS to be held to maturity in the second quarter of fiscal 2021 but did not purchase any investment securities in the second quarter of fiscal 2020. For the first six months of fiscal 2021 and 2020, the Corporation received MBS principal payments of $21.8 million and $17.4 million, respectively, and there were no sales of investment securities during these periods. The Corporation purchased $106.4 million of U.S. government sponsored enterprise MBS to be held to maturity in the first six months of fiscal 2021 but did not purchase any investment securities in the same period of fiscal 2020. The Corporation held investments with an unrealized loss position of $81,000 at December 31, 2020 and $69,000 at June 30, 2020. Unrealized Holding Unrealized Holding Unrealized Holding As of December 31, 2020 Losses Losses Losses (In Thousands) Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Held to maturity: U.S. government sponsored enterprise MBS $ 10,015 $ 63 $ — $ — $ 10,015 $ 63 U.S. SBA securities — $ — 1,886 17 1,886 17 Total investment securities - held to maturity $ 10,015 $ 63 $ 1,886 $ 17 $ 11,901 $ 80 Available for sale: Private issue CMO $ 173 $ 1 $ — $ — $ 173 $ 1 Total investment securities – available for sale $ 173 $ 1 $ — $ — $ 173 $ 1 Total investment securities $ 10,188 $ 64 $ 1,886 $ 17 $ 12,074 $ 81 Unrealized Holding Unrealized Holding Unrealized Holding As of June 30, 2020 Losses Losses Losses (In Thousands) Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Held to maturity: U.S. government sponsored enterprise MBS $ 12,731 $ 45 $ — $ — $ 12,731 $ 45 U.S. SBA securities — $ — 2,040 17 2,040 17 Total investment securities - held to maturity $ 12,731 $ 45 $ 2,040 $ 17 $ 14,771 $ 62 Available for sale: Private issue CMO $ 197 $ 7 $ — $ — $ 197 $ 7 Total investment securities - available for sale $ 197 $ 7 $ — $ — $ 197 $ 7 Total investment securities $ 12,928 $ 52 $ 2,040 $ 17 $ 14,968 $ 69 The Corporation evaluates individual investment securities quarterly for other-than-temporary declines in market value. At December 31, 2020, $17,000 of the $81,000 unrealized holding losses were 12 months or more; while at June 30, 2020, $17,000 of the $69,000 unrealized holding losses were 12 months or more. The unrealized losses on investment securities were attributable to changes in interest rates, relative to when the investment securities were purchased, and not due to the credit quality of the investment securities. At December 31, 2020 and 2019, the Corporation did not have any investment securities with the intent to sell and determined it was more likely than not that the Corporation would not be required to sell the securities prior to recovery of the amortized cost basis; therefore, no impairment losses were recorded for the quarter ended December 31, 2020 and 2019. Contractual maturities of investment securities as of December 31, 2020 and June 30, 2020 were as follows: December 31, 2020 June 30, 2020 Estimated Estimated Amortized Fair Amortized Fair (In Thousands) Cost Value Cost Value Held to maturity: Due in one year or less $ 1,000 $ 1,000 $ 800 $ 800 Due after one through five years 19,081 19,913 19,389 20,194 Due after five through ten years 76,934 78,367 50,895 52,315 Due after ten years 106,083 107,171 47,543 47,892 Total investment securities - held to maturity $ 203,098 $ 206,451 $ 118,627 $ 121,201 Available for sale: Due in one year or less $ — $ — $ — $ — Due after one through five years — — — — Due after five through ten years — — — — Due after ten years 4,057 4,158 4,583 4,717 Total investment securities - available for sale $ 4,057 $ 4,158 $ 4,583 $ 4,717 Total investment securities $ 207,155 $ 210,609 $ 123,210 $ 125,918

Loans Held for Investment

Loans Held for Investment	6 Months Ended
	Dec. 31, 2020
Loans Held for Investment
Loans Held for Investment	Note 5: Loans Held for Investment Loans held for investment, net of fair value adjustments, consisted of the following: December 31, June 30, (In Thousands) 2020 2020 Mortgage loans: Single-family $ 257,864 $ 298,810 Multi-family 488,412 491,903 Commercial real estate 102,551 105,235 Construction (1) 7,135 7,801 Other 141 143 Commercial business loans (2) 882 480 Consumer loans (3) 95 94 Total loans held for investment, gross 857,080 904,466 Advance payments of escrows 142 68 Deferred loan costs, net 6,402 6,527 Allowance for loan losses (8,538) (8,265) Total loans held for investment, net $ 855,086 $ 902,796 (1) Net of $2.7 million and $4.0 million of undisbursed loan funds as of December 31, 2020 and June 30, 2020, respectively. (2) Net of $520 thousand and $935 thousand of undisbursed lines of credit as of December 31, 2020 and June 30, 2020, respectively. (3) Net of $422 thousand and $448 thousand of undisbursed lines of credit as of December 31, 2020 and June 30, 2020, respectively. The following table sets forth information at December 31, 2020 regarding the dollar amount of loans held for investment that are contractually repricing during the periods indicated, segregated between adjustable rate loans and fixed rate loans. Fixed-rate loans comprised one percent of loans held for investment at December 31, 2020 and June 30, 2020, respectively. Adjustable rate loans having no stated repricing dates that reprice when the index they are tied to reprices (e.g. prime rate index) and checking account overdrafts are reported as repricing within one year. The table does not include any estimate of prepayments which may cause the Corporation’s actual repricing experience to differ materially from that shown. Adjustable Rate After After After One Year 3 Years 5 Years Within One Through 3 Through 5 Through 10 (In Thousands) Year Years Years Years Fixed Rate Total Mortgage loans: Single-family $ $ 51,462 $ 62,242 $ 64,482 $ 9,817 $ 257,864 Multi-family 162,764 154,224 153,475 17,810 139 488,412 Commercial real estate 48,239 30,205 23,822 — 285 102,551 Construction 6,477 — — — 658 7,135 Other — — — — 141 141 Commercial business loans 500 — — — 382 882 Consumer loans 95 — — — — 95 Total loans held for investment, gross $ $ 235,891 $ 239,539 $ 82,292 $ 11,422 $ 857,080 The Corporation has developed an internal loan grading system to evaluate and quantify the Bank’s loans held for investment portfolio with respect to quality and risk. Management continually evaluates the credit quality of the Corporation’s loan portfolio and conducts a quarterly review of the adequacy of the allowance for loan losses using quantitative and qualitative methods. The Corporation has adopted an internal risk rating policy in which each loan is rated for credit quality with a rating of pass, special mention, substandard, doubtful or loss. The two primary components that are used during the loan review process to determine the proper allowance levels are individually evaluated allowances and collectively evaluated allowances. Quantitative loan loss factors are developed by determining the historical loss experience, expected future cash flows, discount rates and collateral fair values, among others. Qualitative loan loss factors are developed by assessing general economic indicators such as gross domestic product, retail sales, unemployment rates, employment growth, California home sales and median California home prices as well as the forecasted economic impact of the novel coronavirus of 2019 ("COVID-19"). The Corporation assigns individual factors for the quantitative and qualitative methods for each loan category and each internal risk rating. The Corporation categorizes all of the loans held for investment into risk categories based on relevant information about the ability of the borrower to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. A description of the general characteristics of the risk grades is as follows: · Pass - These loans range from minimal credit risk to average, but still acceptable, credit risk. The likelihood of loss is considered remote. · Special Mention - A special mention loan has potential weaknesses that may be temporary or, if left uncorrected, may result in a loss. While concerns exist, the bank is currently protected and loss is considered unlikely and not imminent. · Substandard - A substandard loan is inadequately protected by the current sound net worth and paying capacity of the borrower or of the collateral pledged, if any. Loans so classified must have a well-defined weakness, or weaknesses, that may jeopardize the liquidation of the debt. A substandard loan is characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. · Doubtful - A doubtful loan has all of the weaknesses inherent in one classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of the currently existing facts, conditions and values, highly questionable and improbable. · Loss - A loss loan is considered uncollectible and of such little value that continuance as an asset of the institution is not warranted. The following tables summarize gross loans held for investment, net of fair value adjustments, by loan types and risk category at the dates indicated: December 31, 2020 Single- Multi- Commercial Other Commercial (In Thousands) family family Real Estate Construction Mortgage Business Consumer Total Pass $ 245,747 $ 484,680 $ 102,551 $ 7,135 $ 141 $ 882 $ 95 $ 841,231 Special Mention 935 3,732 — — — — — 4,667 Substandard 11,182 — — — — — — 11,182 Total loans held for investment, gross $ 257,864 $ 488,412 $ 102,551 $ 7,135 $ 141 $ 882 $ 95 $ 857,080 June 30, 2020 Single- Multi- Commercial Other Commercial (In Thousands) family family Real Estate Construction Mortgage Business Consumer Total Pass $ 289,942 $ 488,126 $ 105,235 $ 6,098 $ 143 $ 445 $ 94 $ 890,083 Special Mention 3,120 3,777 — 1,703 — — — 8,600 Substandard 5,748 — — — — 35 — 5,783 Total loans held for investment, gross $ 298,810 $ 491,903 $ 105,235 $ 7,801 $ 143 $ 480 $ 94 $ 904,466 The allowance for loan losses is maintained at a level sufficient to provide for estimated losses based on evaluating known and inherent risks in the loans held for investment and upon management’s continuing analysis of the factors underlying the quality of the loans held for investment. These factors include changes in the size and composition of the loans held for investment, actual loan loss experience, current economic conditions, detailed analysis of individual loans for which full collectability may not be assured, and determination of the realizable value of the collateral securing the loans. The provision (recovery) for (from) the allowance for loan losses is charged (credited) against operations on a quarterly basis, as necessary, to maintain the allowance at appropriate levels. Although management believes it uses the best information available to make such determinations, there can be no assurance that regulators, in reviewing the Corporation’s loans held for investment, will not request a significant increase in its allowance for loan losses. Future adjustments to the allowance for loan losses may be necessary and results of operations could be significantly and adversely affected as a result of economic, operating, regulatory, and other conditions beyond the Corporation’s control. In response to the COVID-19 pandemic, which has negatively impacted the current economic environment, the qualitative component has been increased in the allowance for loan losses methodology. Non-performing loans are charged-off to their fair market values in the period the loans, or portion thereof, are deemed uncollectible, generally after the loan becomes 150 days delinquent for real estate secured first trust deed loans and 120 days delinquent for commercial business or real estate secured second trust deed loans. For loans that were modified from their original terms, were re-underwritten and identified in the Corporation’s asset quality reports as troubled debt restructurings ("restructured loans"), the charge-off occurs when the loan becomes 90 days delinquent; and where borrowers file bankruptcy, the charge-off occurs when the loan becomes 60 days delinquent. The amount of the charge-off is determined by comparing the loan balance to the estimated fair value of the underlying collateral, less disposition costs, with the loan balance in excess of the estimated fair value charged-off against the allowance for loan losses. The allowance for loan losses for non-performing loans is determined by applying ASC 310, "Receivables." For restructured loans that are less than 90 days delinquent, the allowance for loan losses are segregated into (a) individually evaluated allowances for those loans with applicable discounted cash flow calculations still in their restructuring period, classified lower than pass, and containing an embedded loss component or (b) collectively evaluated allowances based on the aggregated pooling method. For non-performing loans less than 60 days delinquent where the borrower has filed bankruptcy, the collectively evaluated allowances are assigned based on the aggregated pooling method. For non-performing commercial real estate loans, an individually evaluated allowance is derived based on the loan’s discounted cash flow fair value (for restructured loans) or collateral fair value less estimated selling costs and if the fair value is higher than the loan balance, no allowance is required. The following table is provided to disclose additional details for the periods indicated on the Corporation’s allowance for loan losses: For the Quarter Ended For the Six Months Ended December 31, December 31, (Dollars in Thousands) 2020 2019 2020 2019 Allowance at beginning of period $ 8,490 $ 6,929 $ 8,265 $ 7,076 Provision (recovery) for loan losses 39 (22) 259 (203) Recoveries: Mortgage loans: Single-family 9 13 14 49 Consumer loans 1 1 1 1 Total recoveries 10 14 15 50 Charge-offs: Mortgage loans: Single-family — — — (1) Consumer loans (1) — (1) (1) Total charge-offs (1) — (1) (2) Net recoveries (charge-offs) 9 14 14 48 Balance at end of period $ 8,538 $ 6,921 $ $ 6,921 Allowance for loan losses as a percentage of gross loans held for investment at the end of the period 0.99 % 0.73 % 0.99 % 0.73 % Net (recoveries) charge-offs as a percentage of average loans receivable, net, during the period (annualized) (0.00) % (0.01) % (0.00) % (0.01) % The following tables denote the past due status of the Corporation’s gross loans held for investment, net of fair value adjustments, at the dates indicated. December 31, 2020 30‑89 Days Total Loans Held for (In Thousands) Current Past Due Non-Accrual (1) Investment, Gross Mortgage loans: Single-family $ $ 348 $ 11,182 $ 257,864 Multi-family 488,412 — — 488,412 Commercial real estate 102,551 — — 102,551 Construction 7,135 — — 7,135 Other 141 — — 141 Commercial business loans 882 — — 882 Consumer loans 93 2 — 95 Total loans held for investment, gross $ $ 350 $ 11,182 $ 857,080 (1) All loans 90 days or greater past due are placed on non-accrual status. June 30, 2020 30‑89 Days Total Loans Held for (In Thousands) Current Past Due Non-Accrual (1) Investment, Gross Mortgage loans: Single-family $ 293,326 $ 219 $ 5,265 $ 298,810 Multi-family 491,903 — — 491,903 Commercial real estate 105,235 — — 105,235 Construction 7,801 — — 7,801 Other 143 — — 143 Commercial business loans 445 — 35 480 Consumer loans 94 — — 94 Total loans held for investment, gross $ 898,947 $ 219 $ 5,300 $ 904,466 (1) All loans 90 days or greater past due are placed on non-accrual status. The following tables summarize the Corporation’s allowance for loan losses and recorded investment in gross loans, by portfolio type, at the dates and for the periods indicated. Quarter Ended December 31, 2020 Single- Multi- Commercial Commercial (In Thousands) family family Real Estate Construction Other Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 2,671 $ 4,490 $ 1,162 $ 116 $ 3 $ 42 $ 6 $ 8,490 Provision (recovery) for loan losses 26 50 (30) (6) — (1) — 39 Recoveries 9 — — — — — 1 10 Charge-offs — — — — — — (1) (1) Allowance for loan losses, end of period $ 2,706 $ 4,540 $ 1,132 $ 110 $ 3 $ 41 $ 6 $ 8,538 Allowance for loan losses: Individually evaluated for impairment $ 570 $ — $ — $ — $ — $ — $ — $ 570 Collectively evaluated for impairment 2,136 4,540 1,132 110 3 41 6 7,968 Allowance for loan losses, end of period $ 2,706 $ 4,540 $ 1,132 $ 110 $ 3 $ 41 $ 6 $ 8,538 Loans held for investment: Individually evaluated for impairment $ 9,237 $ — $ — $ — $ — $ — $ — $ 9,237 Collectively evaluated for impairment 248,627 488,412 102,551 7,135 141 882 95 847,843 Total loans held for investment, gross $ 257,864 $ 488,412 $ 102,551 $ 7,135 $ 141 $ 882 $ 95 $ 857,080 Allowance for loan losses as a percentage of gross loans held for investment 1.05 % 0.93 % 1.10 % 1.54 % 2.13 % 4.65 % 6.32 % 0.99 % Quarter Ended December 31, 2019 Single- Multi- Commercial Commercial (In Thousands) family family Real Estate Construction Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 2,234 $ 3,507 $ 1,085 $ 74 $ 20 $ 9 $ 6,929 Provision (recovery) for loan losses (90) (5) (27) 94 8 (2) (22) Recoveries 13 — — — — 1 14 Charge-offs — — — — — — — Allowance for loan losses, end of period $ 2,157 $ 3,502 $ 1,058 $ 168 $ 28 $ 8 $ 6,921 Allowance for loan losses: Individually evaluated for impairment $ 46 $ — $ — $ — $ 6 $ — $ 52 Collectively evaluated for impairment 2,111 3,502 1,058 168 22 8 6,869 Allowance for loan losses, end of period $ 2,157 $ 3,502 $ 1,058 $ 168 $ 28 $ 8 $ 6,921 Loans held for investment: Individually evaluated for impairment $ 3,053 $ — $ — $ — $ 43 $ — $ 3,096 Collectively evaluated for impairment 344,291 479,151 107,613 6,914 535 140 938,644 Total loans held for investment, gross $ 347,344 $ 479,151 $ 107,613 $ 6,914 $ 578 $ 140 $ 941,740 Allowance for loan losses as a percentage of gross loans held for investment 0.62 % 0.73 % 0.98 % 2.43 % 4.84 % 5.71 % 0.73 % Six Months Ended December 31, 2020 Single- Multi- Commercial Commercial (In Thousands) family family Real Estate Construction Other Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 2,622 $ 4,329 $ 1,110 $ 171 $ 3 $ 24 $ 6 $ 8,265 Provision (recovery) for loan losses 70 211 22 (61) — 17 — 259 Recoveries 14 — — — — — 1 15 Charge-offs — — — — — — (1) (1) Allowance for loan losses, end of period $ 2,706 $ 4,540 $ 1,132 $ 110 $ 3 $ 41 $ 6 $ 8,538 Allowance for loan losses: Individually evaluated for impairment $ 570 $ — $ — $ — $ — $ — $ — $ 570 Collectively evaluated for impairment 2,136 4,540 1,132 110 3 41 6 7,968 Allowance for loan losses, end of period $ 2,706 $ 4,540 $ 1,132 $ 110 $ 3 $ 41 $ 6 $ 8,538 Loans held for investment: Individually evaluated for impairment $ 9,237 $ — $ — $ — $ — $ — $ — $ 9,237 Collectively evaluated for impairment 248,627 488,412 102,551 7,135 141 882 95 847,843 Total loans held for investment, gross $ 257,864 $ 488,412 $ 102,551 $ 7,135 $ 141 $ 882 $ 95 $ 857,080 Allowance for loan losses as a percentage of gross loans held for investment 1.05 % 0.93 % 1.10 % 1.54 % 2.13 % 4.65 % 6.32 % 0.99 % Six Months Ended December 31, 2019 Single- Multi- Commercial Commercial (In Thousands) family family Real Estate Construction Other Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 2,709 $ 3,219 $ 1,050 $ 61 $ 3 $ 26 $ 8 $ 7,076 Provision (recovery) for loan losses (600) 283 8 107 (3) 2 — (203) Recoveries 49 — — — — — 1 50 Charge-offs (1) — — — — — (1) (2) Allowance for loan losses, end of period $ 2,157 $ 3,502 $ 1,058 $ 168 $ — $ 28 $ 8 $ 6,921 Allowance for loan losses: Individually evaluated for impairment $ 46 $ — $ — $ — $ — $ 6 $ — $ 52 Collectively evaluated for impairment 2,111 3,502 1,058 168 — 22 8 6,869 Allowance for loan losses, end of period $ 2,157 $ 3,502 $ 1,058 $ 168 $ — $ 28 $ 8 $ 6,921 Loans held for investment: Individually evaluated for impairment $ 3,053 $ — $ — $ — $ — $ 43 $ — $ 3,096 Collectively evaluated for impairment 344,291 479,151 107,613 6,914 — 535 140 938,644 Total loans held for investment, gross $ 347,344 $ 479,151 $ 107,613 $ 6,914 $ — $ 578 $ 140 $ 941,740 Allowance for loan losses as a percentage of gross loans held for investment 0.62 % 0.73 % 0.98 % 2.43 % — % 4.84 % 5.71 % 0.73 % The following tables identify the Corporation’s total recorded investment in non-performing loans by type at the dates and for the periods indicated. Generally, a loan is placed on non-accrual status when it becomes 90 days past due as to principal or interest or if the loan is deemed impaired, after considering economic and business conditions and collection efforts, where the borrower’s financial condition is such that collection of the contractual principal or interest on the loan is doubtful. In addition, interest income is not recognized on any loan where management has determined that collection is not reasonably assured. A non-performing loan may be restored to accrual status when delinquent principal and interest payments are brought current, the borrower(s) has demonstrated sustained payment performance and future monthly principal and interest payments are expected to be collected on a timely basis. Loans with a related allowance reserve have been individually evaluated for impairment using either a discounted cash flow analysis or, for collateral dependent loans, current appraisals less costs to sell, to establish realizable value. This analysis may identify a specific impairment amount needed or may conclude that no reserve is needed. Loans that are not individually evaluated for impairment are included in pools of homogeneous loans for evaluation of related allowance reserves. At December 31, 2020 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 9,636 $ — $ 9,636 $ (928) $ 8,708 Without a related allowance (2) 2,015 (453) 1,562 — 1,562 Total single-family 11,651 (453) 11,198 (928) 10,270 Total non-performing loans $ 11,651 $ (453) $ 11,198 $ (928) $ 10,270 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan, and fair value credit adjustments. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. At June 30, 2020 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 3,289 $ — $ 3,289 $ (438) $ 2,851 Without a related allowance (2) 2,509 (467) 2,042 — 2,042 Total single-family 5,798 (467) 5,331 (438) 4,893 Commercial business loans: With a related allowance 35 — 35 (4) 31 Total commercial business loans 35 — 35 (4) 31 Total non-performing loans $ 5,833 $ (467) $ 5,366 $ (442) $ 4,924 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan, and fair value credit adjustments. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. At December 31, 2020, there were no commitments to lend additional funds to those borrowers whose loans were classified as non-performing . For the quarter ended December 31, 2020 and 2019, the Corporation’s average recorded investment in non-performing loans was $9.9 million and $4.0 million, respectively. The Corporation records payments on non-performing loans utilizing the cash basis or cost recovery method of accounting during the periods when the loans are on non-performing status. For the quarter ended December 31, 2020, the Bank received $43,000 in interest payments from non-performing loans, of which $29,000 was recognized as interest income and the remaining $14,000 was applied to reduce the loan balances under the cost recovery method. In comparison, for the quarter ended December 31, 2019, the Bank received $57,000 in interest payments from non-performing loans, of which $34,000 was recognized as interest income and the remaining $23,000 was applied to reduce the loan balances under the cost recovery method. For the six months ended December 31, 2020 and 2019, the Corporation’s average recorded investment in non-performing loans was $7.6 million and $4.7 million, respectively. For the six months ended December 31, 2020, the Bank received $93,000 in interest payments from non-performing loans, of which $70,000 was recognized as interest income and the remaining $23,000 was applied to reduce the loan balances under the cost recovery method. In comparison, for the six months ended December 31, 2019, the Bank received $204,000 in interest payments from non-performing loans, of which $157,000 was recognized as interest income and the remaining $47,000 was applied to reduce the loan balances under the cost recovery method. The following tables present the average recorded investment in non-performing loans and the related interest income recognized for the quarter and six months ended December 31, 2020 and 2019: Quarter Ended December 31, 2020 2019 Average Interest Average Interest Recorded Income Recorded Income (In Thousands) Investment Recognized Investment Recognized Without related allowances: Mortgage loans: Single-family $ 1,570 $ — $ 2,874 $ 21 1,570 — 2,874 21 With related allowances: Mortgage loans: Single-family 8,285 29 1,105 12 Commercial business loans 19 — 44 1 8,304 29 1,149 13 Total $ 9,874 $ 29 $ 4,023 $ 34 Six Months Ended December 31, 2020 2019 Average Interest Average Interest Recorded Income Recorded Income (In Thousands) Investment Recognized Investment Recognized Without related allowances: Mortgage loans: Single-family $ 1,726 $ — $ 2,980 $ 111 Construction — — 542 20 1,726 — 3,522 131 With related allowances: Mortgage loans: Single-family 5,897 69 1,151 24 Commercial business loans 26 1 45 2 5,923 70 1,196 26 Total $ 7,649 $ 70 $ 4,718 $ 157 For the quarter ended December 31, 2020, 16 loans were newly restructured (forbearance loans which were downgraded when their monthly payment deferrals were extended beyond six months, consistent with the Interagency Statement), while one restructured loan was upgraded to the pass category. For the quarter ended December 31, 2019, no new loans were restructured from their original terms and classified as restructured loans, while one restructured loan was downgraded from pass to the substandard category and one restructured loan was upgraded from special mention to the pass category. During both quarters ended December 31, 2020 and 2019, no restructured loans were in default within a 12-month period subsequent to their original restructuring. Additionally, during the quarter ended December 31, 2020 and 2019, there was no loan whose modification was extended beyond the initial maturity of the modification. At both December 31, 2020 and June 30, 2020, there were no commitments to lend additional funds to those borrowers whose loans were restructured. For the six months ended December 31, 2020, 17 loans were newly restructured (including 16 COVID-19 related loan forbearance modifications which were downgraded when their monthly payment deferrals were extended beyond six months, consistent with the Interagency Statement), while two restructured loans were upgraded to the pass category. For the six months ended December 31, 2019, no new loans were restructured from their original terms and classified as restructured loans, while two substandard restructured loans were paid off, one restructured loan was downgraded from pass to the substandard category and one restructured loan was upgraded from special mention to the pass category. During both six months ended December 31, 2020 and 2019, no restructured loans were in default within a 12-month period subsequent to their original restructuring. Additionally, during the six months ended December 31, 2020 and 2019, there was no loan whose modification was extended beyond the initial maturity of the modification. As of December 31, 2020, the Corporation held 23 restructured loans with a net outstanding balance of $8.2 million, and all loans were classified as substandard and on non-accrual status. As of June 30, 2020, the Corporation held eight restructured loans with a net outstanding balance of $2.6 million, and all loans were classified as substandard on non-accrual status. As of December 31, 2020 , all of the restructured loans were current with respect to their modified payment terms, as compared to June 30, 2020 when $1.2 million or 44% of the restructured loans were current with respect to their modified payment terms. The Corporation upgrades restructured single-family loans to the pass category if the borrower has demonstrated satisfactory contractual payments for at least six consecutive months; 12 months for those loans that were restructured more than once; and if the borrower has demonstrated satisfactory contractual payments beyond 12 consecutive months, the loan is no longer categorized as a restructured loan. In addition to the payment history described above, multi-family, commercial real estate, construction and commercial business loans must also demonstrate a combination of the following characteristics to be upgraded: satisfactory cash flow, satisfactory guarantor support, and additional collateral support, among others. To qualify for restructuring, a borrower must provide evidence of their creditworthiness such as, current financial statements, their most recent income tax returns, current paystubs, current W‑2s, and most recent bank statements, among other documents, which are then verified by the Corporation. The Corporation re-underwrites the loan with the borrower’s updated financial information, new credit report, current loan balance, new interest rate, remaining loan term, updated property value and modified payment schedule, among other considerations, to determine if the borrower qualifies. The following table summarizes at the dates indicated the restructured loan balances, net of allowance for loan losses, by loan type: At At (In Thousands) December 31, 2020 June 30, 2020 Restructured loans on non-accrual status: Mortgage loans: Single-family $ 8,208 $ 2,612 Commercial business loans — 31 Total 8,208 2,643 Total restructured loans $ 8,208 $ 2,643 The following tables identify the Corporation’s total recorded investment in restructured loans by type at the dates and for the periods indicated. At December 31, 2020 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 7,939 $ — $ 7,939 $ (587) $ 7,352 Without a related allowance (2) 1,221 (365) 856 — 856 Total single-family 9,160 (365) 8,795 (587) 8,208 Total restructured loans $ 9,160 $ (365) $ 8,795 $ (587) $ 8,208 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. At June 30, 2020 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 1,650 $ — $ 1,650 $ (108) $ 1,542 Without a related allowance (2) 1,435 (365) 1,070 — 1,070 Total single-family 3,085 (365) 2,720 (108) 2,612 Commercial business loans: With a related allowance 35 — 35 (4) 31 Total commercial business loans 35 — 35 (4) 31 Total restructured loans $ 3,120 $ (365) $ 2,755 $ (112) $ 2,643 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. During the quarter and six months ended December 31, 2020 and 2019, no properties were acquired in the settlement of loans and no previously foreclosed upon properties were sold. As of both December 31, 2020 and June 30, 2020, there was no real estate owned property. A new appraisal is obtained on each of the properties at the time of foreclosure and fair value is derived by using the lower of the appraised value or the listing price of the property, net of selling costs. Any initial loss is recorded as a charge to the allowance for loan losses before being transferred to real estate owned. Subsequent to transfer to real estate owned, if there is further deterioration in real estate values, specific real estate owned loss reserves are established and charged to the condensed consolidated statements of operations. In addition, the Corporation records costs to carry real estate owned as real estate owned operating expenses as incurred. The Coronavirus Aid, Relief, and Economic Security Act of 2020 signed into law on March 27, 2020 ("CARES Act") and Interagency Statement provided guidance around the modification of loans as a result of the COVID-19 pandemic, which outlined, among other criteria, that short-term modifications made on a good faith basis to borrowers who were current as defined under the CARES Act and Interagency Statement prior to any relief and were not extended beyond their initial six months of deferred payments, are not considered restructured loans. This includes short-term (e.g. six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant. To qualify as an eligible loan under the CARES Act and Interagency Statement, a loan modification must be (1) related to COVID-19; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (a) 60 days after the date of termination of the national emergency declared by the President or (b) December 31, 2020. In addition, the bank regulatory agencies issued the Revised Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus ("Interagency Statement") stating that COVID-19 related short-term modifications (i.e., six months or less) granted to loans that were current as of the loan modification program implementation date are not restructured loans. On December 27, 2020, the Consolidated Appropriations Act 2021 (H.R. 133) was signed into law. Among other purposes, this act provides coronavirus emergency response and relief, including extending relief offered under the CARES Act related to restructured loans as a result of COVID-19 through January 1, 2022 or 60 days after the end of the national emergency declared by the President, whichever is earlier. As of December 31, 2020, the Corporation had six single-family forbearance loans, with outstanding balances of $1.8 million or 0.21 percent of total loans, and two multi-family loans with outstanding balances of $763,000 or 0.09 percent of total loans that were modified in accordance with the CARES Act and Interagency Statement. In addition, as of December 31, 2020, the Corporation had two pending requests for payment relief for a single-family loan of $684,000 and a multi-family loan of $1.1 million. As of December 31, 2020, loan forbearance related to COVID-19 hardship requests are described below: Forbearance Granted Forbearance Completed (1) Forbearance Remaining Number of Number of Number of (Dollars In Thousands) Loans Amount Loans Amount Loans Amount Single-family loans 58 $ 23,239 52 $ 21,404 6 $ 1,835 Multi-family loans 5 2,346 3 1,583 2 763 Commercial real estate loans 2 1,066 2 1,066 — — Total loan forbearance 65 $ 26,651 57 $ 24,053 8 $ 2,598 (1) Includes 16 single-family loans totaling $6.3 million which were subsequently extended and classified as restructured loans, consistent with the Interagency Statement. As of December 31, 2020, certain characteristics of loans in forbearance are described below: Weighted Weighted Avg. % of Weight

Derivative and Other Financial

Derivative and Other Financial Instruments with Off-Balance Sheet Risks	6 Months Ended
	Dec. 31, 2020
Derivative and Other Financial Instruments with Off-Balance Sheet Risks
Derivative and Other Financial Instruments with Off-Balance Sheet Risks	Note 6: Derivative and Other Financial Instruments with Off-Balance Sheet Risks The Corporation is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit in the form of originating loans or providing funds under existing lines of credit, loan sale commitments to third parties and option contracts. These instruments involve, to varying degrees, elements of credit and interest-rate risk in excess of the amount recognized in the accompanying Condensed Consolidated Statements of Financial Condition. The Corporation’s exposure to credit loss, in the event of non-performance by the counterparty to these financial instruments, is represented by the contractual amount of these instruments. The Corporation uses the same credit policies in entering into financial instruments with off-balance sheet risk as it does for on-balance sheet instruments. As of December 31, 2020 and June 30, 2020, the Corporation had commitments to extend credit on loans to be held for investment of $12.3 million and $13.6 million, respectively. The following table provides information at the dates indicated regarding undisbursed funds on construction loans, undisbursed funds to borrowers on existing lines of credit with the Corporation as well as commitments to originate loans to be held for investment at the dates indicated below. Commitments December 31, 2020 June 30, 2020 (In Thousands) Undisbursed loan funds – Construction loans $ 2,736 $ 4,029 Undisbursed lines of credit – Commercial business loans 520 935 Undisbursed lines of credit – Consumer loans 422 448 Commitments to extend credit on loans to be held for investment 12,281 13,579 Total $ 15,959 $ 18,991 The following table provides information regarding the allowance for loan losses for the undisbursed funds and commitments to extend credit on loans to be held for investment for the quarter ended December 31, 2020 and 2019. For the Quarter Ended For the Six Months Ended December 31, December 31, (In Thousands) 2020 2019 2020 2019 Balance, beginning of the period $ 104 $ 143 $ 126 $ 141 Recovery (3) (5) (25) (3) Balance, end of the period $ 101 $ 138 $ 101 $ 138 In accordance with ASC 815, "Derivatives and Hedging," and interpretations of the Derivatives Implementation Group of the FASB, the fair value of the commitments to extend credit on loans to be held for sale, loan sale commitments, to be announced ("TBA") MBS trades, put option contracts and call option contracts are recorded at fair value on the Condensed Consolidated Statements of Financial Condition. The Corporation does not apply hedge accounting to its derivative financial instruments; therefore, all changes in fair value are recorded in earnings. As of December 31, 2020 and June 30, 2020, there were no outstanding derivative financial instruments. Loans previously sold to the FHLB – San Francisco under the Mortgage Partnership Finance (“MPF”) program have a recourse liability. The FHLB – San Francisco absorbs the first four basis points of loss by establishing a first loss account and a credit scoring process is used to calculate the maximum recourse amount for the Bank. All losses above the Bank’s maximum recourse amount are the responsibility of the FHLB – San Francisco. The FHLB – San Francisco pays the Bank a credit enhancement fee on a monthly basis to compensate the Bank for accepting the recourse obligation. As of December 31, 2020 and June 30, 2020, the Bank serviced $6.2 million and $7.4 million of loans under this program, respectively and has established a recourse liability of $40,000 and $70,000, respectively. Occasionally, the Bank is required to repurchase loans sold to Freddie Mac, Fannie Mae or other investors if it is determined that such loans do not meet the credit requirements of the investor, or if one of the parties involved in the loan misrepresented pertinent facts, committed fraud, or if such loans were 90‑days past due within 120 days of the loan funding date. During the quarter ended December 31, 2020, the Bank did not repurchase any loans. In comparison during the same quarter last year, the Bank repurchased two single-family loans totaling $520,000 pursuant to the recourse/repurchase covenants contained in the loan sale agreements. During the six months ended December 31, 2020, the Bank did not repurchase any loans. In comparison, during the same period last year, the Bank repurchased three single-family loans totaling $1.1 million pursuant to the recourse/repurchase covenants contained in the loan sale agreements. There were no other repurchase requests that did not result in the repurchase of the loan itself, which were settled in the quarter and six months ended December 31, 2020 and 2019. In addition to the specific recourse liability for the MPF program, the Bank established a recourse liability of $ 350,000 and $ 200,000 for loans sold to other investors as of December 31, 2020 and June 30, 2020, respectively. The following table shows the summary of the recourse liability for the quarter and six months ended December 31, 2020 and 2019: For the Quarter Ended For the Six Months Ended December 31, December 31, Recourse Liability 2020 2019 2020 2019 (In Thousands) Balance, beginning of the period $ 370 $ 250 $ 270 $ 250 Provision for recourse liability 20 — 120 — Net settlements in lieu of loan repurchases — — — — Balance, end of the period $ 390 $ 250 $ 390 $ 250

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Dec. 31, 2020
Fair Value of Financial Instruments
Fair Value of Financial Instruments	Note 7: Fair Value of Financial Instruments The Corporation adopted ASC 820, "Fair Value Measurements and Disclosures," and elected the fair value option pursuant to ASC 825, "Financial Instruments.” ASC 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 825 permits entities to elect to measure many financial instruments and certain other assets and liabilities at fair value on an instrument-by-instrument basis (the "Fair Value Option") at specified election dates. At each subsequent reporting date, an entity is required to report unrealized gains and losses on items in earnings for which the fair value option has been elected. The objective of the Fair Value Option is to improve financial reporting by providing entities with the opportunity to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently without having to apply complex hedge accounting provisions. The Corporation also adopted ASU 2018-13, "Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which modifies disclosure requirements on fair value measurements to improve their effectiveness." The guidance permits entities to consider materiality when evaluating fair value measurement disclosures and, among other modifications, requires certain new disclosures related to Level 3 fair value measurements. The following table describes the difference at the dates indicated between the aggregate fair value and the aggregate unpaid principal balance of loans held for investment at fair value: Aggregate Unpaid Net Aggregate Principal Unrealized (In Thousands) Fair Value Balance Loss As of December 31, 2020: Loans held for investment, at fair value $ 1,972 $ 2,097 $ (125) As of June 30, 2020: Loans held for investment, at fair value $ 2,258 $ 2,369 $ (111) ASC 820‑10‑65‑4, "Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly," provides additional guidance for estimating fair value in accordance with ASC 820, "Fair Value Measurements," when the volume and level of activity for the asset or liability have significantly decreased. ASC 820 establishes a three-level valuation hierarchy that prioritizes inputs to valuation techniques used in fair value calculations. The three levels of inputs are defined as follows: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Corporation has the ability to access at the measurement date. Level 2 - Observable inputs other than Level 1 such as: quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated to observable market data for substantially the full term of the asset or liability. Level 3 - Unobservable inputs for the asset or liability that use significant assumptions, including assumptions of risks. These unobservable assumptions reflect the Corporation’s estimate of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include the use of pricing models, discounted cash flow models and similar techniques. ASC 820 requires the Corporation to maximize the use of observable inputs and minimize the use of unobservable inputs. If a financial instrument uses inputs that fall in different levels of the hierarchy, the instrument will be categorized based upon the lowest level of input that is significant to the fair value calculation. The Corporation’s financial assets and liabilities measured at fair value on a recurring basis consist of investment securities available for sale, loans held for investment at fair value and interest-only strips; while non-performing loans, mortgage servicing assets ("MSA") and real estate owned, if any, are measured at fair value on a nonrecurring basis. Investment securities - available for sale are primarily comprised of U.S. government agency MBS, U.S. government sponsored enterprise MBS and privately issued CMO. The Corporation utilizes quoted prices in active markets for similar securities for its fair value measurement of MBS (Level 2) and broker price indications for similar securities in non-active markets for its fair value measurement of the CMO (Level 3). Loans held for investment at fair value are primarily single-family loans which have been transferred from loans held for sale. The fair value is determined by the management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan (Level 3). Non-performing loans are loans which are inadequately protected by the current sound net worth and paying capacity of the borrowers or of the collateral pledged. The non-performing loans are characterized by the distinct possibility that the Corporation will sustain some loss if the deficiencies are not corrected. The fair value of a non-performing loan is determined based on an observable market price or current appraised value of the underlying collateral. Appraised and reported values may be discounted based on management’s historical knowledge, changes in market conditions from the time of valuation, and/or management’s expertise and knowledge of the borrower. For non-performing loans which are restructured loans, the fair value is derived from discounted cash flow analysis (Level 3), except those which are in the process of foreclosure or 90 days delinquent for which the fair value is derived from the appraised value of its collateral (Level 2). For other non-performing loans which are not restructured loans, other than non-performing commercial real estate loans, the fair value is derived from relative value analysis: historical experience and management estimates by loan type for which collectively evaluated allowances are assigned (Level 3); or the appraised value of its collateral for loans which are in the process of foreclosure or where borrowers file bankruptcy (Level 2). For non-performing commercial real estate loans, the fair value is derived from the appraised value of its collateral (Level 2). Non-performing loans are reviewed and evaluated on at least a quarterly basis for additional allowance and adjusted accordingly, based on the same factors identified above. This loss is not recorded directly as an adjustment to current earnings or other comprehensive income (loss), but rather as a component in determining the overall adequacy of the allowance for loan losses. These adjustments to the estimated fair value of non-performing loans may result in increases or decreases to the provision for loan losses recorded in current earnings. The Corporation uses the amortization method for its MSA, which amortizes the MSA in proportion to and over the period of estimated net servicing income and assesses the MSA for impairment based on fair value at each reporting date. The fair value of the MSA is derived using the present value method; which includes a third party’s prepayment projections of similar instruments, weighted-average coupon rates, estimated servicing costs and discount interest rates (Level 3). The rights to future income from serviced loans that exceed contractually specified servicing fees are recorded as interest-only strips. The fair value of interest-only strips is derived using the same assumptions that are used to value the related MSA (Level 3). The Corporation’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Corporation’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The following fair value hierarchy tables present information at the dates indicated about the Corporation’s assets measured at fair value on a recurring basis: Fair Value Measurement at December 31, 2020 Using: (In Thousands) Level 1 Level 2 Level 3 Total Assets: Investment securities - available for sale: U.S. government agency MBS $ — $ 2,551 $ — $ 2,551 U.S. government sponsored enterprise MBS — 1,434 — 1,434 Private issue CMO — — 173 173 Investment securities - available for sale — 3,985 173 4,158 Loans held for investment, at fair value — — 1,972 1,972 Interest-only strips — — 12 12 Total assets $ — $ 3,985 $ 2,157 $ 6,142 Liabilities $ — $ — $ — $ — Total liabilities $ — $ — $ — $ — Fair Value Measurement at June 30, 2020 Using: (In Thousands) Level 1 Level 2 Level 3 Total Assets: Investment securities - available for sale: U.S. government agency MBS $ — $ 2,943 $ — $ 2,943 U.S. government sponsored enterprise MBS — 1,577 — 1,577 Private issue CMO — — 197 197 Investment securities - available for sale — 4,520 197 4,717 Loans held for investment, at fair value — — 2,258 2,258 Interest-only strips — — 14 14 Total assets $ — $ 4,520 $ 2,469 $ 6,989 Liabilities: $ — $ — $ — $ — Total liabilities $ — $ — $ — $ — The following tables summarize reconciliations of the beginning and ending balances during the periods shown of recurring fair value measurements recognized in the Condensed Consolidated Statements of Financial Condition using Level 3 inputs: For the Quarter Ended December 31, 2020 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) Private Issue Loans Held For Investment, Interest- Only (In Thousands) CMO at fair value (1) Strips Total Beginning balance at September 30, 2020 $ 184 $ 2,240 $ 13 $ 2,437 Total gains or losses (realized/unrealized): Included in earnings — (11) — (11) Included in other comprehensive loss 2 — (1) 1 Purchases — — — — Issuances — — — — Settlements (13) (257) — (270) Transfers in and/or out of Level 3 — — — — Ending balance at December 31, 2020 $ 173 $ 1,972 $ 12 $ 2,157 (1) The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan. For the Quarter Ended December 31, 2019 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) Private Issue Loans Held For Investment, Interest- (In Thousands) CMO at fair value (1) Only Strips Total Beginning balance at September 30, 2019 $ 253 $ 4,386 $ 14 $ 4,653 Total gains or losses (realized/unrealized): Included in earnings — 31 — 31 Included in other comprehensive loss (3) — (1) (4) Purchases — — — — Issuances — — — — Settlements (19) (244) — (263) Transfers in and/or out of Level 3 — — — — Ending balance at December 31, 2019 $ 231 $ 4,173 $ 13 $ 4,417 (1) The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan. For the Six Months Ended December 31, 2020 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) Private Issue Loans Held For Investment, Interest- (In Thousands) CMO at fair value (1) Only Strips Total Beginning balance at June 30, 2020 $ 197 $ 2,258 $ 14 $ 2,469 Total gains or losses (realized/unrealized): Included in earnings — (15) — (15) Included in other comprehensive loss 6 — (2) 4 Purchases — — — — Issuances — — — — Settlements (30) (271) — (301) Transfers in and/or out of Level 3 — — — — Ending balance at December 31, 2020 $ 173 $ 1,972 $ 12 $ 2,157 (1) The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan. For the Six Months Ended December 31, 2019 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) Loans Held Private For Interest- Issue Investment, at Only (In Thousands) CMO fair value (1) Strips Total Beginning balance at June 30, 2019 $ 269 $ 5,094 $ 16 $ 5,379 Total gains or losses (realized/unrealized): Included in earnings — 13 — 13 Included in other comprehensive loss (3) — (3) (6) Purchases — — — — Issuances — — — — Settlements (35) (934) — (969) Transfers in and/or out of Level 3 — — — — Ending balance at December 31, 2019 $ 231 $ 4,173 $ 13 $ 4,417 (1) The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan. The following fair value hierarchy tables present information about the Corporation’s assets measured at fair value at the dates indicated on a nonrecurring basis: Fair Value Measurement at December 31, 2020 Using: (In Thousands) Level 1 Level 2 Level 3 Total Non-performing loans $ — $ 1,562 $ 8,708 $ 10,270 Mortgage servicing assets — — 233 233 Total $ — $ 1,562 $ 8,941 $ 10,503 Fair Value Measurement at June 30, 2020 Using: (In Thousands) Level 1 Level 2 Level 3 Total Non-performing loans $ — $ 2,042 $ 2,882 $ 4,924 Mortgage servicing assets — — 382 382 Total $ — $ 2,042 $ 3,264 $ 5,306 The following table presents additional information about valuation techniques and inputs used for assets and liabilities, which are measured at fair value and categorized within Level 3 as of December 31, 2020: Impact to Fair Value Valuation As of from an December 31, Valuation Range (1) Increase in (Dollars In Thousands) 2020 Techniques Unobservable Inputs (Weighted Average) Inputs (2) Assets: Securities available-for sale: Private issue CMO $ 173 Market comparable Comparability (0.1)% – (1.4)% ((0.3)%) Increase Loans held for investment, at fair value $ 1,972 Relative value Broker quotes 97.6% – 102.0% Increase Non-performing loans (3) $ 7,352 Discounted cash flow Default rates 5.0% Decrease Non-performing loans (4) $ 1,356 Relative value analysis Credit risk factor 20.0% - 30.0% (20.1%) Decrease Mortgage servicing assets $ 233 Discounted cash flow Prepayment speed (CPR) 20.4% - 60.0% (29.6%) Decrease Interest-only strips $ 12 Discounted cash flow Prepayment speed (CPR) 20.4% - 23.0% (22.9%) Decrease Liabilities: None (1) The range is based on the historical estimated fair values and management estimates. (2) Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs in isolation could result in significantly higher or lower fair value measurements. (3) Consists of restructured loans . (4) Consists of other non-performing loans, excluding restructured loans. The significant unobservable inputs used in the fair value measurement of the Corporation’s assets and liabilities include the following: prepayment speeds, discount rates and broker quotes, among others. Significant increases or decreases in any of these inputs in isolation could result in significantly lower or higher fair value measurement. The various unobservable inputs used to determine valuations may have similar or diverging impacts on valuation. The carrying amount and fair value of the Corporation’s other financial instruments as of December 31, 2020 and June 30, 2020 was as follows: December 31, 2020 Carrying Fair (In Thousands) Amount Value Level 1 Level 2 Level 3 Financial assets: Investment securities - held to maturity $ 203,098 $ 206,451 $ — $ 206,451 $ — Loans held for investment, not recorded at fair value $ 853,114 $ 854,482 $ — $ — $ 854,482 FHLB – San Francisco stock $ 7,970 $ 7,970 $ — $ 7,970 $ — Financial liabilities: Deposits $ 909,968 $ 879,153 $ — $ — $ 879,153 Borrowings $ 116,015 $ 120,942 $ — $ — $ 120,942 June 30, 2020 Carrying Fair (In Thousands) Amount Value Level 1 Level 2 Level 3 Financial assets: Investment securities - held to maturity $ 118,627 $ 121,201 $ — $ 121,201 $ — Loans held for investment, not recorded at fair value $ 900,538 $ 902,074 $ — $ — $ 902,074 FHLB – San Francisco stock $ 7,970 $ 7,970 $ — $ 7,970 $ — Financial liabilities: Deposits $ 892,969 $ 864,239 $ — $ — $ 864,239 Borrowings $ 141,047 $ 149,976 $ — $ — $ 149,976 Investment securities - held to maturity: The investment securities - held to maturity consist of time deposits at CRA qualified minority financial institutions, U.S. SBA securities and U.S. government sponsored enterprise MBS. Due to the short-term nature of the time deposits, the principal balance approximated fair value (Level 2). For the MBS and the U.S. SBA securities, the Corporation utilizes quoted prices in active markets for similar securities for its fair value measurement (Level 2). Loans held for investment, not recorded at fair value: For loans that reprice frequently at market rates, the carrying amount approximates the fair value. For fixed-rate loans, the fair value is determined by either (i) discounting the estimated future cash flows of such loans over their estimated remaining contractual maturities using a current interest rate at which such loans would be made to borrowers, or (ii) quoted market prices. FHLB – San Francisco stock: The carrying amount reported for FHLB – San Francisco stock approximates fair value. When redeemed, the Corporation will receive an amount equal to the par value of the stock. Deposits: The fair value of time deposits is estimated using a discounted cash flow calculation. The discount rate is based upon rates currently offered for deposits of similar remaining maturities. The fair value of transaction accounts (checking, money market and savings accounts) is estimated using a discounted cash flow calculation and management estimates of current market conditions. Borrowings: The fair value of borrowings has been estimated using a discounted cash flow calculation. The discount rate on such borrowings is based upon rates currently offered for borrowings of similar remaining maturities. The Corporation has various processes and controls in place to ensure that fair value is reasonably estimated. The Corporation generally determines fair value of their Level 3 assets and liabilities by using internally developed models which primarily utilize discounted cash flow techniques and prices obtained from independent management services or brokers. The Corporation performs due diligence procedures over third-party pricing service providers in order to support their use in the valuation process. While the Corporation believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. During the quarter ended December 31, 2020, there were no significant changes to the Corporation’s valuation techniques that had, or are expected to have, a material impact on its condensed consolidated financial position or results of operations.

Reclassification Adjustment of

Reclassification Adjustment of Accumulated Other Comprehensive Income ("AOCI")	6 Months Ended
	Dec. 31, 2020
Reclassification Adjustment of Accumulated Other Comprehensive Income ("AOCI")
Reclassification Adjustment of Accumulated Other Comprehensive Income ("AOCI")	Note 8: Reclassification Adjustment of Accumulated Other Comprehensive Income ("AOCI") The following tables provide the changes in AOCI by component for the quarter and six months ended December 31, 2020 and 2019. For the Quarter Ended December 31, 2020 Unrealized gains and losses on Investment securities Interest- (In Thousands) available for sale only strips Total Beginning balance at September 30, 2020 $ 90 $ 9 $ 99 Other comprehensive loss before reclassifications (19) — (19) Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive loss (19) — (19) Ending balance at December 31, 2020 $ 71 $ 9 $ 80 For the Quarter Ended December 31, 2019 Unrealized gains and losses on Investment securities Interest- (In Thousands) available for sale only strips Total Beginning balance at September 30, 2019 $ 138 $ 10 $ 148 Other comprehensive loss before reclassifications (14) (1) (15) Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive loss (14) (1) (15) Ending balance at December 31, 2019 $ 124 $ 9 $ 133 For the Six Months Ended December 31, 2020 Unrealized gains and losses on Investment securities Interest- (In Thousands) available for sale only strips Total Beginning balance at June 30, 2020 $ 94 $ 10 $ 104 Other comprehensive loss before reclassifications (23) (1) (24) Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive loss (23) (1) (24) Ending balance at December 31, 2020 $ 71 $ 9 $ 80 For the Six Months Ended December 31, 2019 Unrealized gains and losses on Investment securities Interest- (In Thousands) available for sale only strips Total Beginning balance at June 30, 2019 $ 150 $ 11 $ 161 Other comprehensive loss before reclassifications (26) (2) (28) Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive loss (26) (2) (28) Ending balance at December 31, 2019 $ 124 $ 9 $ 133

Revenue From Contracts With Cus

Revenue From Contracts With Customers	6 Months Ended
	Dec. 31, 2020
Revenue From Contracts With Customers
Revenue From Contracts With Customers	Note 9: Revenue From Contracts With Customers In accordance with ASC 606, revenues are recognized when goods or services are transferred to the customer in exchange for the consideration the Corporation expects to be entitled to receive. The largest portion of the Corporation's revenue is from interest income, which is not in the scope of ASC 606. All of the Corporation's revenue from contracts with customers in the scope of ASC 606 is recognized in non-interest income. If a contract is determined to be within the scope of ASC 606, the Corporation recognizes revenue as it satisfies a performance obligation. Payments from customers are generally collected at the time services are rendered, monthly, quarterly or annually. For contracts with customers within the scope of ASC 606, revenue is either earned at a point in time or revenue is earned over time. Examples of revenue earned at a point in time are automated teller machine ("ATM") transaction fees, wire transfer fees, overdraft fees and interchange fees. Revenue is primarily based on the number and type of transactions that are generally derived from transactional information accumulated by our systems and is recognized immediately as the transactions occur or upon providing the service to complete the customer's transaction. The Corporation is generally the principal in these contracts, with the exception of interchanges fees, in which case the Corporation is acting as the agent and records revenue net of expenses paid to the principal. Examples of revenue earned over time, which generally occur on a monthly basis, are deposit account maintenance fees, investment advisory fees, merchant revenue, trust and investment management fees and safe deposit box fees. Revenue is generally derived from transactional information accumulated by our systems or those of third-parties and is recognized as the related transactions occur or services are rendered to the customer. Disaggregation of Revenue: The following table includes the Corporation's non-interest income disaggregated by type of services for the quarter and six months ended December 31, 2020 and 2019: For the Quarter Ended For the Six Months Ended December 31, December 31, Type of Services 2020 2019 2020 2019 (In Thousands) Loan servicing and other fees (1) $ 120 $ 367 $ 525 $ 500 Deposit account fees 329 451 639 898 Card and processing fees 368 371 732 761 Other (2) 157 155 237 255 Total non-interest income $ 974 $ 1,344 $ 2,133 $ 2,414 (1) Not in scope of ASC 606. (2) Includes BOLI of $48 thousand and $47 thousand for the quarter and $96 thousand and $94 thousand for six months ended December 31, 2020 and 2019, respectively , which are not in scope of ASC 606. For both the quarter and six months ended December 31, 2020 and 2019, substantially all of the Corporation's revenues within the scope of ASC 606 are for performance obligations satisfied at a specified date. Revenues recognized in scope of ASC 606: Deposit account fees : Fees are earned on the Bank's deposit accounts for various products offered to or services performed for the Bank's customers. Fees include business account fees, non-sufficient fund fees, ATM fees and others. These fees are recognized concurrent with the event on a daily, monthly, quarterly or annual basis, depending on the type of service. Card and processing fees : Debit interchange income represents fees earned when a debit card issued by the Bank is used. The Bank earns interchange fees from cardholder transactions through a third party payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder. The performance obligation is satisfied and the fees are earned when the cost of the transaction is charged to the cardholders’ debit card. Certain expenses directly associated with the debit cards are recorded on a net basis with the interchange income. Other : Includes asset management fees, certain loan related fees, stop payment fees, wire services fees, safe deposit box fees and other fees earned on other services, such as merchant services or occasional non-recurring type services, are recognized at the time of the event or the applicable billing cycle. Asset management fees are variable, since they are based on the underlying portfolio value, which is subject to market conditions and amounts invested by customers through a third-party provider. Asset management fees are recognized over the period that services are provided, and when the portfolio values are known or can be estimated at the end of each month. Loan related fees include (loss) gain on sale of loans, prepayment fees, late charges, brokered loan fees, maintenance fees and others. These fees are recognized concurrent with the event on a daily, monthly, quarterly or annual basis, depending on the type of service.

Leases

Leases	6 Months Ended
	Dec. 31, 2020
Leases
Leases	Note 10: Leases The Corporation accounts for its leases in accordance with ASC 842, which was implemented on July 1, 2019, and requires the Corporation to record liabilities for future lease obligations as well as assets representing the right to use the underlying leased assets. The Corporation's leases primarily represent future obligations to make payments for the use of buildings, space or equipment for its operations. Liabilities to make future lease payments are recorded in accounts payable, accrued interest and other liabilities, while right-of-use assets are recorded in premises and equipment in the Corporation's condensed consolidated statements of financial condition. At December 31, 2020, all of the Corporation's leases were classified as operating leases and the Corporation did not have any operating leases with an initial term of 12 months or less ("short-term leases"). Liabilities to make future lease payments and right of use assets are recorded for operating leases and do not include short-term leases. These liabilities and right-of-use assets are determined based on the total contractual base rents for each lease, which include options to extend or renew each lease, where applicable, and where the Corporation believes it has an economic incentive to extend or renew the lease. Due to the fact that lease extensions are not reasonably certain, the Corporation generally does not recognize payments occurring during option periods in the calculation of its operating right-of-use lease assets and operating lease liabilities. The Corporation utilizes the FHLB - San Francisco rates as a discount rate for each of the remaining contractual terms at the adoption date as well as for future leases if the discount rate is not stated in the lease. For leases that contain variable lease payments, the Corporation assumes future lease payment escalations based on a lease payment escalation rate specified in the lease or the specified index rate observed at the time of lease commencement. Liabilities to make future lease payments are accounted for using the interest method, being reduced by periodic contractual lease payments net of periodic interest accretion. Right-of-use assets for operating leases are amortized over the term of the associated lease by amounts that represent the difference between periodic straight-line lease expense and periodic interest accretion in the related liability to make future lease payments. For the quarter ended December 31, 2020 and 2019, expenses associated with the Corporation’s leases totaled $210,000 and $211,000, respectively, and were recorded in premises and occupancy expenses and equipment expenses in the condensed consolidated statements of operations. For the six months ended December 31, 2020 and 2019, expenses associated with the Corporation’s leases totaled $421,000 and $401,000, respectively, and were recorded in premises and occupancy expenses and equipment expenses in the condensed consolidated statements of operations. The following table presents supplemental information related to operating leases at the date and for the periods indicated: At At (In Thousands) December 31, 2020 June 30, 2020 Condensed Consolidated Statements of Condition: Premises and equipment - Operating lease right of use assets $ 2,393 $ 2,525 Accounts payable, accrued interest and other liabilities - Operating lease liabilities $ 2,478 $ 2,640 Quarter Ended Six Months Ended December 31, December 31, 2020 2019 2020 2019 Condensed Consolidated Statements of Operations: Premises and occupancy expenses from operating leases (1) (2) $ 199 $ 195 $ 398 $ 374 Equipment expenses from operating leases 11 16 23 27 (1) Variable lease costs are immaterial. (2) Revenue related to sublease activity is immaterial and netted against operating lease expenses. Six Months Ended Six Months Ended (In Thousands) December 31, 2020 December 31, 2019 Condensed Consolidated Statements of Cash Flows: Operating cash flows from operating leases, net (1) $ 451 $ 563 (1) Revenue related to sublease activity is immaterial and netted against operating lease expenses. The following table provides information related to remaining minimum contractual lease payments and other information associated with the Corporation’s leases as of December 31, 2020: Amount (1) Year Ending June 30, (In Thousands) 2021 $ 455 2022 778 2023 469 2024 359 2025 255 Thereafter 275 Total contract lease payments $ 2,591 Total liability to make lease payments $ 2,478 Difference in undiscounted and discounted future lease payments $ 113 Weighted average discount rate 2.00 % Weighted average remaining lease term (years) 4.1 (1) Contractual base rents do not include property taxes and other operating expenses due under respective lease agreements.

Subsequent Events

Subsequent Events	6 Months Ended
	Dec. 31, 2020
Subsequent Events
Subsequent Events	Note 12: Subsequent Events On January 28, 2021, the Corporation announced that the Corporation’s Board of Directors declared a quarterly cash dividend of $0.14 per share. Shareholders of the Corporation’s common stock at the close of business on February 18, 2021 are entitled to receive the cash dividend. The cash dividend will be payable on March 11, 2021.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Dec. 31, 2020
Organization and Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The unaudited interim condensed consolidated financial statements included herein reflect all adjustments which are, in the opinion of management, necessary to present a fair statement of the results of operations for the interim periods presented. All such adjustments are of a normal, recurring nature. The condensed consolidated statement of financial condition at June 30, 2020 is derived from the audited consolidated financial statements of Provident Financial Holdings, Inc. and its wholly-owned subsidiary, Provident Savings Bank, F.S.B. (the "Bank") (collectively, the "Corporation"). Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission ("SEC") with respect to interim financial reporting. It is recommended that these unaudited interim condensed consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s Annual Report on Form 10‑K for the year ended June 30, 2020. The results of operations for the quarter and six months ended December 31, 2020 are not necessarily indicative of results that may be expected for the entire fiscal year ending June 30, 2021.
Accounting standard updates ("ASU")	Accounting Standard Updates (“ASU”) There have been no accounting standard updates or changes in the status of their adoption that are significant to the Corporation as previously disclosed in Note 1 of the Corporation's Annual Report on Form 10-K for the year ended June 30, 2020, other than: ASU 2018-13: In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-13, “Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which modifies disclosure requirements on fair value measurements to improve their effectiveness.” The guidance permits entities to consider materiality when evaluating fair value measurement disclosures and, among other modifications, requires certain new disclosures related to Level 3 fair value measurements. This guidance will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. The guidance only affects disclosures in the notes to the condensed consolidated financial statements and will not otherwise affect the Corporation's Condensed Consolidated Financial Statements. The adoption of this ASU did not have a material impact on its condensed consolidated financial statements. See Note 7 for additional discussion.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2020
Earnings Per Share
Schedule of earnings per share, basic and diluted	For the Quarter Ended For the Six Months Ended December 31, December 31, (In Thousands, Except Earnings Per Share) 2020 2019 2020 2019 Numerator: Net income – numerator for basic earnings per share and diluted earnings per share - available to common stockholders $ 1,176 $ 2,398 $ 2,661 $ 4,960 Denominator: Denominator for basic earnings per share: Weighted-average shares 7,442 7,482 7,439 7,482 Effect of dilutive shares: Stock options 37 133 29 133 Restricted stock 13 43 7 36 Denominator for diluted earnings per share: Adjusted weighted-average shares and assumed conversions 7,492 7,658 7,475 7,651 Basic earnings per share $ 0.16 $ 0.32 $ 0.36 $ 0.66 Diluted earnings per share $ 0.16 $ 0.31 $ 0.36 $ 0.65

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Dec. 31, 2020
Investment Securities
Schedule of available-for-sale securities reconciliation	Gross Gross Estimated Amortized Unrealized Unrealized Fair Carrying December 31, 2020 Cost Gains (Losses) Value Value (In Thousands) Held to maturity: U.S. government sponsored enterprise MBS (1) $ 200,195 $ 3,433 $ (63) $ 203,565 $ 200,195 U.S. SBA securities (2) 1,903 — (17) 1,886 1,903 Certificate of deposits 1,000 — — 1,000 1,000 Total investment securities - held to maturity $ 203,098 $ 3,433 $ (80) $ 206,451 $ 203,098 Available for sale: U.S. government agency MBS $ 2,463 $ 88 $ — $ 2,551 $ 2,551 U.S. government sponsored enterprise MBS 1,420 14 — 1,434 1,434 Private issue CMO (3) 174 — (1) 173 173 Total investment securities - available for sale $ 4,057 $ 102 $ (1) $ 4,158 $ 4,158 Total investment securities $ 207,155 $ 3,535 $ (81) $ 210,609 $ 207,256 (1) Mortgage-Backed Securities ("MBS"). (2) Small Business Administration ("SBA"). (3) Collateralized Mortgage Obligations ("CMO"). Gross Gross Estimated Amortized Unrealized Unrealized Fair Carrying June 30, 2020 Cost Gains (Losses) Value Value (In Thousands) Held to maturity: U.S. government sponsored enterprise MBS $ 115,763 $ 2,636 $ (45) $ 118,354 $ 115,763 U.S. SBA securities 2,064 — (17) 2,047 2,064 Certificate of deposits 800 — — 800 800 Total investment securities - held to maturity $ 118,627 $ 2,636 $ (62) $ 121,201 $ 118,627 Available for sale: U.S. government agency MBS $ 2,823 $ 120 $ — $ 2,943 $ 2,943 U.S. government sponsored enterprise MBS 1,556 21 — 1,577 1,577 Private issue CMO 204 — (7) 197 197 Total investment securities - available for sale $ 4,583 $ 141 $ (7) $ 4,717 $ 4,717 Total investment securities $ 123,210 $ 2,777 $ (69) $ 125,918 $ 123,344
Schedule of investments with unrealized loss position	Unrealized Holding Unrealized Holding Unrealized Holding As of December 31, 2020 Losses Losses Losses (In Thousands) Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Held to maturity: U.S. government sponsored enterprise MBS $ 10,015 $ 63 $ — $ — $ 10,015 $ 63 U.S. SBA securities — $ — 1,886 17 1,886 17 Total investment securities - held to maturity $ 10,015 $ 63 $ 1,886 $ 17 $ 11,901 $ 80 Available for sale: Private issue CMO $ 173 $ 1 $ — $ — $ 173 $ 1 Total investment securities – available for sale $ 173 $ 1 $ — $ — $ 173 $ 1 Total investment securities $ 10,188 $ 64 $ 1,886 $ 17 $ 12,074 $ 81 Unrealized Holding Unrealized Holding Unrealized Holding As of June 30, 2020 Losses Losses Losses (In Thousands) Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Held to maturity: U.S. government sponsored enterprise MBS $ 12,731 $ 45 $ — $ — $ 12,731 $ 45 U.S. SBA securities — $ — 2,040 17 2,040 17 Total investment securities - held to maturity $ 12,731 $ 45 $ 2,040 $ 17 $ 14,771 $ 62 Available for sale: Private issue CMO $ 197 $ 7 $ — $ — $ 197 $ 7 Total investment securities - available for sale $ 197 $ 7 $ — $ — $ 197 $ 7 Total investment securities $ 12,928 $ 52 $ 2,040 $ 17 $ 14,968 $ 69
Schedule of investments classified by contractual maturity	December 31, 2020 June 30, 2020 Estimated Estimated Amortized Fair Amortized Fair (In Thousands) Cost Value Cost Value Held to maturity: Due in one year or less $ 1,000 $ 1,000 $ 800 $ 800 Due after one through five years 19,081 19,913 19,389 20,194 Due after five through ten years 76,934 78,367 50,895 52,315 Due after ten years 106,083 107,171 47,543 47,892 Total investment securities - held to maturity $ 203,098 $ 206,451 $ 118,627 $ 121,201 Available for sale: Due in one year or less $ — $ — $ — $ — Due after one through five years — — — — Due after five through ten years — — — — Due after ten years 4,057 4,158 4,583 4,717 Total investment securities - available for sale $ 4,057 $ 4,158 $ 4,583 $ 4,717 Total investment securities $ 207,155 $ 210,609 $ 123,210 $ 125,918

Loans Held for Investment (Tabl

Loans Held for Investment (Tables)	6 Months Ended
	Dec. 31, 2020
Loans Held for Investment
Schedule of loans held for investment	December 31, June 30, (In Thousands) 2020 2020 Mortgage loans: Single-family $ 257,864 $ 298,810 Multi-family 488,412 491,903 Commercial real estate 102,551 105,235 Construction (1) 7,135 7,801 Other 141 143 Commercial business loans (2) 882 480 Consumer loans (3) 95 94 Total loans held for investment, gross 857,080 904,466 Advance payments of escrows 142 68 Deferred loan costs, net 6,402 6,527 Allowance for loan losses (8,538) (8,265) Total loans held for investment, net $ 855,086 $ 902,796 (1) Net of $2.7 million and $4.0 million of undisbursed loan funds as of December 31, 2020 and June 30, 2020, respectively. (2) Net of $520 thousand and $935 thousand of undisbursed lines of credit as of December 31, 2020 and June 30, 2020, respectively. (3) Net of $422 thousand and $448 thousand of undisbursed lines of credit as of December 31, 2020 and June 30, 2020, respectively.
Schedule of loans held for investment, contractual repricing	Adjustable Rate After After After One Year 3 Years 5 Years Within One Through 3 Through 5 Through 10 (In Thousands) Year Years Years Years Fixed Rate Total Mortgage loans: Single-family $ $ 51,462 $ 62,242 $ 64,482 $ 9,817 $ 257,864 Multi-family 162,764 154,224 153,475 17,810 139 488,412 Commercial real estate 48,239 30,205 23,822 — 285 102,551 Construction 6,477 — — — 658 7,135 Other — — — — 141 141 Commercial business loans 500 — — — 382 882 Consumer loans 95 — — — — 95 Total loans held for investment, gross $ $ 235,891 $ 239,539 $ 82,292 $ 11,422 $ 857,080
Schedule of gross loans held for investment by loan types and risk category	December 31, 2020 Single- Multi- Commercial Other Commercial (In Thousands) family family Real Estate Construction Mortgage Business Consumer Total Pass $ 245,747 $ 484,680 $ 102,551 $ 7,135 $ 141 $ 882 $ 95 $ 841,231 Special Mention 935 3,732 — — — — — 4,667 Substandard 11,182 — — — — — — 11,182 Total loans held for investment, gross $ 257,864 $ 488,412 $ 102,551 $ 7,135 $ 141 $ 882 $ 95 $ 857,080 June 30, 2020 Single- Multi- Commercial Other Commercial (In Thousands) family family Real Estate Construction Mortgage Business Consumer Total Pass $ 289,942 $ 488,126 $ 105,235 $ 6,098 $ 143 $ 445 $ 94 $ 890,083 Special Mention 3,120 3,777 — 1,703 — — — 8,600 Substandard 5,748 — — — — 35 — 5,783 Total loans held for investment, gross $ 298,810 $ 491,903 $ 105,235 $ 7,801 $ 143 $ 480 $ 94 $ 904,466
Schedule of allowance for loan losses	The following table is provided to disclose additional details for the periods indicated on the Corporation’s allowance for loan losses: For the Quarter Ended For the Six Months Ended December 31, December 31, (Dollars in Thousands) 2020 2019 2020 2019 Allowance at beginning of period $ 8,490 $ 6,929 $ 8,265 $ 7,076 Provision (recovery) for loan losses 39 (22) 259 (203) Recoveries: Mortgage loans: Single-family 9 13 14 49 Consumer loans 1 1 1 1 Total recoveries 10 14 15 50 Charge-offs: Mortgage loans: Single-family — — — (1) Consumer loans (1) — (1) (1) Total charge-offs (1) — (1) (2) Net recoveries (charge-offs) 9 14 14 48 Balance at end of period $ 8,538 $ 6,921 $ $ 6,921 Allowance for loan losses as a percentage of gross loans held for investment at the end of the period 0.99 % 0.73 % 0.99 % 0.73 % Net (recoveries) charge-offs as a percentage of average loans receivable, net, during the period (annualized) (0.00) % (0.01) % (0.00) % (0.01) %
Schedule of past due status of gross loans held for investment, net of fair value adjustments	December 31, 2020 30‑89 Days Total Loans Held for (In Thousands) Current Past Due Non-Accrual (1) Investment, Gross Mortgage loans: Single-family $ $ 348 $ 11,182 $ 257,864 Multi-family 488,412 — — 488,412 Commercial real estate 102,551 — — 102,551 Construction 7,135 — — 7,135 Other 141 — — 141 Commercial business loans 882 — — 882 Consumer loans 93 2 — 95 Total loans held for investment, gross $ $ 350 $ 11,182 $ 857,080 (1) All loans 90 days or greater past due are placed on non-accrual status. June 30, 2020 30‑89 Days Total Loans Held for (In Thousands) Current Past Due Non-Accrual (1) Investment, Gross Mortgage loans: Single-family $ 293,326 $ 219 $ 5,265 $ 298,810 Multi-family 491,903 — — 491,903 Commercial real estate 105,235 — — 105,235 Construction 7,801 — — 7,801 Other 143 — — 143 Commercial business loans 445 — 35 480 Consumer loans 94 — — 94 Total loans held for investment, gross $ 898,947 $ 219 $ 5,300 $ 904,466 (1) All loans 90 days or greater past due are placed on non-accrual status.
Schedule of allowance for loan losses and recorded investment	Quarter Ended December 31, 2020 Single- Multi- Commercial Commercial (In Thousands) family family Real Estate Construction Other Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 2,671 $ 4,490 $ 1,162 $ 116 $ 3 $ 42 $ 6 $ 8,490 Provision (recovery) for loan losses 26 50 (30) (6) — (1) — 39 Recoveries 9 — — — — — 1 10 Charge-offs — — — — — — (1) (1) Allowance for loan losses, end of period $ 2,706 $ 4,540 $ 1,132 $ 110 $ 3 $ 41 $ 6 $ 8,538 Allowance for loan losses: Individually evaluated for impairment $ 570 $ — $ — $ — $ — $ — $ — $ 570 Collectively evaluated for impairment 2,136 4,540 1,132 110 3 41 6 7,968 Allowance for loan losses, end of period $ 2,706 $ 4,540 $ 1,132 $ 110 $ 3 $ 41 $ 6 $ 8,538 Loans held for investment: Individually evaluated for impairment $ 9,237 $ — $ — $ — $ — $ — $ — $ 9,237 Collectively evaluated for impairment 248,627 488,412 102,551 7,135 141 882 95 847,843 Total loans held for investment, gross $ 257,864 $ 488,412 $ 102,551 $ 7,135 $ 141 $ 882 $ 95 $ 857,080 Allowance for loan losses as a percentage of gross loans held for investment 1.05 % 0.93 % 1.10 % 1.54 % 2.13 % 4.65 % 6.32 % 0.99 % Quarter Ended December 31, 2019 Single- Multi- Commercial Commercial (In Thousands) family family Real Estate Construction Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 2,234 $ 3,507 $ 1,085 $ 74 $ 20 $ 9 $ 6,929 Provision (recovery) for loan losses (90) (5) (27) 94 8 (2) (22) Recoveries 13 — — — — 1 14 Charge-offs — — — — — — — Allowance for loan losses, end of period $ 2,157 $ 3,502 $ 1,058 $ 168 $ 28 $ 8 $ 6,921 Allowance for loan losses: Individually evaluated for impairment $ 46 $ — $ — $ — $ 6 $ — $ 52 Collectively evaluated for impairment 2,111 3,502 1,058 168 22 8 6,869 Allowance for loan losses, end of period $ 2,157 $ 3,502 $ 1,058 $ 168 $ 28 $ 8 $ 6,921 Loans held for investment: Individually evaluated for impairment $ 3,053 $ — $ — $ — $ 43 $ — $ 3,096 Collectively evaluated for impairment 344,291 479,151 107,613 6,914 535 140 938,644 Total loans held for investment, gross $ 347,344 $ 479,151 $ 107,613 $ 6,914 $ 578 $ 140 $ 941,740 Allowance for loan losses as a percentage of gross loans held for investment 0.62 % 0.73 % 0.98 % 2.43 % 4.84 % 5.71 % 0.73 % Six Months Ended December 31, 2020 Single- Multi- Commercial Commercial (In Thousands) family family Real Estate Construction Other Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 2,622 $ 4,329 $ 1,110 $ 171 $ 3 $ 24 $ 6 $ 8,265 Provision (recovery) for loan losses 70 211 22 (61) — 17 — 259 Recoveries 14 — — — — — 1 15 Charge-offs — — — — — — (1) (1) Allowance for loan losses, end of period $ 2,706 $ 4,540 $ 1,132 $ 110 $ 3 $ 41 $ 6 $ 8,538 Allowance for loan losses: Individually evaluated for impairment $ 570 $ — $ — $ — $ — $ — $ — $ 570 Collectively evaluated for impairment 2,136 4,540 1,132 110 3 41 6 7,968 Allowance for loan losses, end of period $ 2,706 $ 4,540 $ 1,132 $ 110 $ 3 $ 41 $ 6 $ 8,538 Loans held for investment: Individually evaluated for impairment $ 9,237 $ — $ — $ — $ — $ — $ — $ 9,237 Collectively evaluated for impairment 248,627 488,412 102,551 7,135 141 882 95 847,843 Total loans held for investment, gross $ 257,864 $ 488,412 $ 102,551 $ 7,135 $ 141 $ 882 $ 95 $ 857,080 Allowance for loan losses as a percentage of gross loans held for investment 1.05 % 0.93 % 1.10 % 1.54 % 2.13 % 4.65 % 6.32 % 0.99 % Six Months Ended December 31, 2019 Single- Multi- Commercial Commercial (In Thousands) family family Real Estate Construction Other Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 2,709 $ 3,219 $ 1,050 $ 61 $ 3 $ 26 $ 8 $ 7,076 Provision (recovery) for loan losses (600) 283 8 107 (3) 2 — (203) Recoveries 49 — — — — — 1 50 Charge-offs (1) — — — — — (1) (2) Allowance for loan losses, end of period $ 2,157 $ 3,502 $ 1,058 $ 168 $ — $ 28 $ 8 $ 6,921 Allowance for loan losses: Individually evaluated for impairment $ 46 $ — $ — $ — $ — $ 6 $ — $ 52 Collectively evaluated for impairment 2,111 3,502 1,058 168 — 22 8 6,869 Allowance for loan losses, end of period $ 2,157 $ 3,502 $ 1,058 $ 168 $ — $ 28 $ 8 $ 6,921 Loans held for investment: Individually evaluated for impairment $ 3,053 $ — $ — $ — $ — $ 43 $ — $ 3,096 Collectively evaluated for impairment 344,291 479,151 107,613 6,914 — 535 140 938,644 Total loans held for investment, gross $ 347,344 $ 479,151 $ 107,613 $ 6,914 $ — $ 578 $ 140 $ 941,740 Allowance for loan losses as a percentage of gross loans held for investment 0.62 % 0.73 % 0.98 % 2.43 % — % 4.84 % 5.71 % 0.73 %
Schedule of recorded investment in non-performing loans	At December 31, 2020 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 9,636 $ — $ 9,636 $ (928) $ 8,708 Without a related allowance (2) 2,015 (453) 1,562 — 1,562 Total single-family 11,651 (453) 11,198 (928) 10,270 Total non-performing loans $ 11,651 $ (453) $ 11,198 $ (928) $ 10,270 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan, and fair value credit adjustments. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. At June 30, 2020 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 3,289 $ — $ 3,289 $ (438) $ 2,851 Without a related allowance (2) 2,509 (467) 2,042 — 2,042 Total single-family 5,798 (467) 5,331 (438) 4,893 Commercial business loans: With a related allowance 35 — 35 (4) 31 Total commercial business loans 35 — 35 (4) 31 Total non-performing loans $ 5,833 $ (467) $ 5,366 $ (442) $ 4,924 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan, and fair value credit adjustments. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance.
Schedule of Nonperforming Loans on Interest Income	The following tables present the average recorded investment in non-performing loans and the related interest income recognized for the quarter and six months ended December 31, 2020 and 2019: Quarter Ended December 31, 2020 2019 Average Interest Average Interest Recorded Income Recorded Income (In Thousands) Investment Recognized Investment Recognized Without related allowances: Mortgage loans: Single-family $ 1,570 $ — $ 2,874 $ 21 1,570 — 2,874 21 With related allowances: Mortgage loans: Single-family 8,285 29 1,105 12 Commercial business loans 19 — 44 1 8,304 29 1,149 13 Total $ 9,874 $ 29 $ 4,023 $ 34 Six Months Ended December 31, 2020 2019 Average Interest Average Interest Recorded Income Recorded Income (In Thousands) Investment Recognized Investment Recognized Without related allowances: Mortgage loans: Single-family $ 1,726 $ — $ 2,980 $ 111 Construction — — 542 20 1,726 — 3,522 131 With related allowances: Mortgage loans: Single-family 5,897 69 1,151 24 Commercial business loans 26 1 45 2 5,923 70 1,196 26 Total $ 7,649 $ 70 $ 4,718 $ 157
Schedule of troubled debt restructurings by nonaccrual versus accrual status	At At (In Thousands) December 31, 2020 June 30, 2020 Restructured loans on non-accrual status: Mortgage loans: Single-family $ 8,208 $ 2,612 Commercial business loans — 31 Total 8,208 2,643 Total restructured loans $ 8,208 $ 2,643
Schedule of recorded investment in restructured loans	At December 31, 2020 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 7,939 $ — $ 7,939 $ (587) $ 7,352 Without a related allowance (2) 1,221 (365) 856 — 856 Total single-family 9,160 (365) 8,795 (587) 8,208 Total restructured loans $ 9,160 $ (365) $ 8,795 $ (587) $ 8,208 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. At June 30, 2020 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 1,650 $ — $ 1,650 $ (108) $ 1,542 Without a related allowance (2) 1,435 (365) 1,070 — 1,070 Total single-family 3,085 (365) 2,720 (108) 2,612 Commercial business loans: With a related allowance 35 — 35 (4) 31 Total commercial business loans 35 — 35 (4) 31 Total restructured loans $ 3,120 $ (365) $ 2,755 $ (112) $ 2,643 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance.
Schedule of loan forbearance related to COVID-19 hardship requests	Forbearance Granted Forbearance Completed (1) Forbearance Remaining Number of Number of Number of (Dollars In Thousands) Loans Amount Loans Amount Loans Amount Single-family loans 58 $ 23,239 52 $ 21,404 6 $ 1,835 Multi-family loans 5 2,346 3 1,583 2 763 Commercial real estate loans 2 1,066 2 1,066 — — Total loan forbearance 65 $ 26,651 57 $ 24,053 8 $ 2,598 (1) Includes 16 single-family loans totaling $6.3 million which were subsequently extended and classified as restructured loans, consistent with the Interagency Statement. As of December 31, 2020, certain characteristics of loans in forbearance are described below: Weighted Weighted Avg. % of Weighted Avg. Debt Forbearance Number Total Weighted Avg. Coverage Period (Dollars In Thousands) of Loans Amount Loans Avg. LTV (1) FICO (2) Ratio (3) Granted (4) Single-family loans 6 $ 1,835 0.21 % 75 % 725 N/A 6.0 Multi-family loans 2 763 0.09 % 56 % 711 1.26 x 5.0 Total loans in forbearance 8 $ 2,598 0.30 % 69 % 721 1.26 x 5.7 (1) Current loan balance in comparison to the original appraised value. (2) At time of loan origination, borrowers and/or guarantors. (3) At time of loan origination. (4) In months.

Derivative and Other Financia_2

Derivative and Other Financial Instruments with Off-Balance Sheet Risks (Tables)	6 Months Ended
	Dec. 31, 2020
Derivative and Other Financial Instruments with Off-Balance Sheet Risks
Schedule of undisbursed funds commitments	Commitments December 31, 2020 June 30, 2020 (In Thousands) Undisbursed loan funds – Construction loans $ 2,736 $ 4,029 Undisbursed lines of credit – Commercial business loans 520 935 Undisbursed lines of credit – Consumer loans 422 448 Commitments to extend credit on loans to be held for investment 12,281 13,579 Total $ 15,959 $ 18,991
Schedule of allowance for loan losses of undisbursed funds and commitments on loans held for investment	For the Quarter Ended For the Six Months Ended December 31, December 31, (In Thousands) 2020 2019 2020 2019 Balance, beginning of the period $ 104 $ 143 $ 126 $ 141 Recovery (3) (5) (25) (3) Balance, end of the period $ 101 $ 138 $ 101 $ 138
Schedule of summary of recourse liability	For the Quarter Ended For the Six Months Ended December 31, December 31, Recourse Liability 2020 2019 2020 2019 (In Thousands) Balance, beginning of the period $ 370 $ 250 $ 270 $ 250 Provision for recourse liability 20 — 120 — Net settlements in lieu of loan repurchases — — — — Balance, end of the period $ 390 $ 250 $ 390 $ 250

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Dec. 31, 2020
Fair Value of Financial Instruments
Schedule of aggregate fair value and aggregate unpaid principal balance of loans held for sale	Aggregate Unpaid Net Aggregate Principal Unrealized (In Thousands) Fair Value Balance Loss As of December 31, 2020: Loans held for investment, at fair value $ 1,972 $ 2,097 $ (125) As of June 30, 2020: Loans held for investment, at fair value $ 2,258 $ 2,369 $ (111)
Schedule of fair value, assets and liabilities measured on recurring basis	Fair Value Measurement at December 31, 2020 Using: (In Thousands) Level 1 Level 2 Level 3 Total Assets: Investment securities - available for sale: U.S. government agency MBS $ — $ 2,551 $ — $ 2,551 U.S. government sponsored enterprise MBS — 1,434 — 1,434 Private issue CMO — — 173 173 Investment securities - available for sale — 3,985 173 4,158 Loans held for investment, at fair value — — 1,972 1,972 Interest-only strips — — 12 12 Total assets $ — $ 3,985 $ 2,157 $ 6,142 Liabilities $ — $ — $ — $ — Total liabilities $ — $ — $ — $ — Fair Value Measurement at June 30, 2020 Using: (In Thousands) Level 1 Level 2 Level 3 Total Assets: Investment securities - available for sale: U.S. government agency MBS $ — $ 2,943 $ — $ 2,943 U.S. government sponsored enterprise MBS — 1,577 — 1,577 Private issue CMO — — 197 197 Investment securities - available for sale — 4,520 197 4,717 Loans held for investment, at fair value — — 2,258 2,258 Interest-only strips — — 14 14 Total assets $ — $ 4,520 $ 2,469 $ 6,989 Liabilities: $ — $ — $ — $ — Total liabilities $ — $ — $ — $ —
Schedule for reconciliation of recurring fair value measurements using level 3 inputs	For the Quarter Ended December 31, 2020 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) Private Issue Loans Held For Investment, Interest- Only (In Thousands) CMO at fair value (1) Strips Total Beginning balance at September 30, 2020 $ 184 $ 2,240 $ 13 $ 2,437 Total gains or losses (realized/unrealized): Included in earnings — (11) — (11) Included in other comprehensive loss 2 — (1) 1 Purchases — — — — Issuances — — — — Settlements (13) (257) — (270) Transfers in and/or out of Level 3 — — — — Ending balance at December 31, 2020 $ 173 $ 1,972 $ 12 $ 2,157 (1) The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan. For the Quarter Ended December 31, 2019 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) Private Issue Loans Held For Investment, Interest- (In Thousands) CMO at fair value (1) Only Strips Total Beginning balance at September 30, 2019 $ 253 $ 4,386 $ 14 $ 4,653 Total gains or losses (realized/unrealized): Included in earnings — 31 — 31 Included in other comprehensive loss (3) — (1) (4) Purchases — — — — Issuances — — — — Settlements (19) (244) — (263) Transfers in and/or out of Level 3 — — — — Ending balance at December 31, 2019 $ 231 $ 4,173 $ 13 $ 4,417 (1) The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan. For the Six Months Ended December 31, 2020 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) Private Issue Loans Held For Investment, Interest- (In Thousands) CMO at fair value (1) Only Strips Total Beginning balance at June 30, 2020 $ 197 $ 2,258 $ 14 $ 2,469 Total gains or losses (realized/unrealized): Included in earnings — (15) — (15) Included in other comprehensive loss 6 — (2) 4 Purchases — — — — Issuances — — — — Settlements (30) (271) — (301) Transfers in and/or out of Level 3 — — — — Ending balance at December 31, 2020 $ 173 $ 1,972 $ 12 $ 2,157 (1) The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan. For the Six Months Ended December 31, 2019 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) Loans Held Private For Interest- Issue Investment, at Only (In Thousands) CMO fair value (1) Strips Total Beginning balance at June 30, 2019 $ 269 $ 5,094 $ 16 $ 5,379 Total gains or losses (realized/unrealized): Included in earnings — 13 — 13 Included in other comprehensive loss (3) — (3) (6) Purchases — — — — Issuances — — — — Settlements (35) (934) — (969) Transfers in and/or out of Level 3 — — — — Ending balance at December 31, 2019 $ 231 $ 4,173 $ 13 $ 4,417 (1) The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan.
Schedule of fair value assets measured on nonrecurring basis	Fair Value Measurement at December 31, 2020 Using: (In Thousands) Level 1 Level 2 Level 3 Total Non-performing loans $ — $ 1,562 $ 8,708 $ 10,270 Mortgage servicing assets — — 233 233 Total $ — $ 1,562 $ 8,941 $ 10,503 Fair Value Measurement at June 30, 2020 Using: (In Thousands) Level 1 Level 2 Level 3 Total Non-performing loans $ — $ 2,042 $ 2,882 $ 4,924 Mortgage servicing assets — — 382 382 Total $ — $ 2,042 $ 3,264 $ 5,306
Schedule of additional information about valuation techniques and inputs used for assets and liabilities	The following table presents additional information about valuation techniques and inputs used for assets and liabilities, which are measured at fair value and categorized within Level 3 as of December 31, 2020: Impact to Fair Value Valuation As of from an December 31, Valuation Range (1) Increase in (Dollars In Thousands) 2020 Techniques Unobservable Inputs (Weighted Average) Inputs (2) Assets: Securities available-for sale: Private issue CMO $ 173 Market comparable Comparability (0.1)% – (1.4)% ((0.3)%) Increase Loans held for investment, at fair value $ 1,972 Relative value Broker quotes 97.6% – 102.0% Increase Non-performing loans (3) $ 7,352 Discounted cash flow Default rates 5.0% Decrease Non-performing loans (4) $ 1,356 Relative value analysis Credit risk factor 20.0% - 30.0% (20.1%) Decrease Mortgage servicing assets $ 233 Discounted cash flow Prepayment speed (CPR) 20.4% - 60.0% (29.6%) Decrease Interest-only strips $ 12 Discounted cash flow Prepayment speed (CPR) 20.4% - 23.0% (22.9%) Decrease Liabilities: None (1) The range is based on the historical estimated fair values and management estimates. (2) Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs in isolation could result in significantly higher or lower fair value measurements. (3) Consists of restructured loans . (4) Consists of other non-performing loans, excluding restructured loans.
Schedule of carrying amount and fair value of financial instruments	December 31, 2020 Carrying Fair (In Thousands) Amount Value Level 1 Level 2 Level 3 Financial assets: Investment securities - held to maturity $ 203,098 $ 206,451 $ — $ 206,451 $ — Loans held for investment, not recorded at fair value $ 853,114 $ 854,482 $ — $ — $ 854,482 FHLB – San Francisco stock $ 7,970 $ 7,970 $ — $ 7,970 $ — Financial liabilities: Deposits $ 909,968 $ 879,153 $ — $ — $ 879,153 Borrowings $ 116,015 $ 120,942 $ — $ — $ 120,942 June 30, 2020 Carrying Fair (In Thousands) Amount Value Level 1 Level 2 Level 3 Financial assets: Investment securities - held to maturity $ 118,627 $ 121,201 $ — $ 121,201 $ — Loans held for investment, not recorded at fair value $ 900,538 $ 902,074 $ — $ — $ 902,074 FHLB – San Francisco stock $ 7,970 $ 7,970 $ — $ 7,970 $ — Financial liabilities: Deposits $ 892,969 $ 864,239 $ — $ — $ 864,239 Borrowings $ 141,047 $ 149,976 $ — $ — $ 149,976

Reclassification Adjustment o_2

Reclassification Adjustment of Accumulated Other Comprehensive Income ("AOCI") (Tables)	6 Months Ended
	Dec. 31, 2020
Reclassification Adjustment of Accumulated Other Comprehensive Income ("AOCI")
Schedule of accumulated other comprehensive income	For the Quarter Ended December 31, 2020 Unrealized gains and losses on Investment securities Interest- (In Thousands) available for sale only strips Total Beginning balance at September 30, 2020 $ 90 $ 9 $ 99 Other comprehensive loss before reclassifications (19) — (19) Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive loss (19) — (19) Ending balance at December 31, 2020 $ 71 $ 9 $ 80 For the Quarter Ended December 31, 2019 Unrealized gains and losses on Investment securities Interest- (In Thousands) available for sale only strips Total Beginning balance at September 30, 2019 $ 138 $ 10 $ 148 Other comprehensive loss before reclassifications (14) (1) (15) Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive loss (14) (1) (15) Ending balance at December 31, 2019 $ 124 $ 9 $ 133 For the Six Months Ended December 31, 2020 Unrealized gains and losses on Investment securities Interest- (In Thousands) available for sale only strips Total Beginning balance at June 30, 2020 $ 94 $ 10 $ 104 Other comprehensive loss before reclassifications (23) (1) (24) Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive loss (23) (1) (24) Ending balance at December 31, 2020 $ 71 $ 9 $ 80 For the Six Months Ended December 31, 2019 Unrealized gains and losses on Investment securities Interest- (In Thousands) available for sale only strips Total Beginning balance at June 30, 2019 $ 150 $ 11 $ 161 Other comprehensive loss before reclassifications (26) (2) (28) Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive loss (26) (2) (28) Ending balance at December 31, 2019 $ 124 $ 9 $ 133

Revenue From Contracts With C_2

Revenue From Contracts With Customers (Tables)	6 Months Ended
	Dec. 31, 2020
Revenue From Contracts With Customers
Schedule of non-interest income disaggregated by type of service	The following table includes the Corporation's non-interest income disaggregated by type of services for the quarter and six months ended December 31, 2020 and 2019: For the Quarter Ended For the Six Months Ended December 31, December 31, Type of Services 2020 2019 2020 2019 (In Thousands) Loan servicing and other fees (1) $ 120 $ 367 $ 525 $ 500 Deposit account fees 329 451 639 898 Card and processing fees 368 371 732 761 Other (2) 157 155 237 255 Total non-interest income $ 974 $ 1,344 $ 2,133 $ 2,414 (1) Not in scope of ASC 606. (2) Includes BOLI of $48 thousand and $47 thousand for the quarter and $96 thousand and $94 thousand for six months ended December 31, 2020 and 2019, respectively , which are not in scope of ASC 606.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Dec. 31, 2020
Leases
Schedule of supplemental information related to operating leases	At At (In Thousands) December 31, 2020 June 30, 2020 Condensed Consolidated Statements of Condition: Premises and equipment - Operating lease right of use assets $ 2,393 $ 2,525 Accounts payable, accrued interest and other liabilities - Operating lease liabilities $ 2,478 $ 2,640 Quarter Ended Six Months Ended December 31, December 31, 2020 2019 2020 2019 Condensed Consolidated Statements of Operations: Premises and occupancy expenses from operating leases (1) (2) $ 199 $ 195 $ 398 $ 374 Equipment expenses from operating leases 11 16 23 27 (1) Variable lease costs are immaterial. (2) Revenue related to sublease activity is immaterial and netted against operating lease expenses. Six Months Ended Six Months Ended (In Thousands) December 31, 2020 December 31, 2019 Condensed Consolidated Statements of Cash Flows: Operating cash flows from operating leases, net (1) $ 451 $ 563 (1) Revenue related to sublease activity is immaterial and netted against operating lease expenses.
Schedule of remaining minimum contractual lease payments and other information associated with leases	Amount (1) Year Ending June 30, (In Thousands) 2021 $ 455 2022 778 2023 469 2024 359 2025 255 Thereafter 275 Total contract lease payments $ 2,591 Total liability to make lease payments $ 2,478 Difference in undiscounted and discounted future lease payments $ 113 Weighted average discount rate 2.00 % Weighted average remaining lease term (years) 4.1 (1) Contractual base rents do not include property taxes and other operating expenses due under respective lease agreements.

Earnings Per Share - Summary of

Earnings Per Share - Summary of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net income - numerator for basic earnings per share and diluted earnings per share - available to common stockholders	$ 1,176	$ 2,398	$ 2,661	$ 4,960
Denominator for basic earnings per share:
Weighted-average shares	7,442	7,482	7,439	7,482
Denominator for diluted earnings per share:
Adjusted weighted-average shares and assumed conversions	7,492	7,658	7,475	7,651
Basic earnings per share	$ 0.16	$ 0.32	$ 0.36	$ 0.66
Diluted earnings per share	$ 0.16	$ 0.31	$ 0.36	$ 0.65
Stock Options
Denominator for basic earnings per share:
Effect of dilutive shares	37	133	29	133
Restricted Stock
Denominator for basic earnings per share:
Effect of dilutive shares	13	43	7	36

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares	6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options, outstanding	549,000	554,500
Antidilutive securities excluded from computation of earnings per share	135,000	0
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Restricted stock, outstanding	207,500	225,500

Investment Securities - Schedul

Investment Securities - Schedule of amortized cost and estimated fair value of Held to maturity investments (Details) - USD ($) $ in Thousands	Dec. 31, 2020		Jun. 30, 2020
Held to maturity
Amortized Cost	$ 203,098		$ 118,627
Gross Unrealized Gains	3,433		2,636
Gross Unrealized (Losses)	(80)		(62)
Estimated Fair Value	206,451		121,201
Carrying Value	203,098		118,627
U.S. government sponsored enterprise MBS
Held to maturity
Amortized Cost	200,195	[1]	115,763
Gross Unrealized Gains	3,433	[1]	2,636
Gross Unrealized (Losses)	(63)	[1]	(45)
Estimated Fair Value	203,565	[1]	118,354
Carrying Value	200,195	[1]	115,763
U.S. SBA securities
Held to maturity
Amortized Cost	1,903	[2]	2,064
Gross Unrealized Gains			0
Gross Unrealized (Losses)	(17)	[2]	(17)
Estimated Fair Value	1,886	[2]	2,047
Carrying Value	1,903	[2]	2,064
Certificate of deposits
Held to maturity
Amortized Cost	1,000		800
Gross Unrealized Gains	0		0
Gross Unrealized (Losses)	0		0
Estimated Fair Value	1,000		800
Carrying Value	$ 1,000		$ 800
[1]	Mortgage-Backed Securities ("MBS").
[2]	Small Business Administration ("SBA").

Investment Securities - Sched_2

Investment Securities - Schedule of amortized cost and estimated fair value of Available for sale securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020		Jun. 30, 2020
Available for sale
Amortized Cost	$ 4,057		$ 4,583
Gross Unrealized Gains	102		141
Gross Unrealized (Losses)	(1)		(7)
Estimated Fair Value	4,158		4,717
Carrying value	4,158		4,717
U.S. government agency MBS
Available for sale
Amortized Cost	2,463		2,823
Gross Unrealized Gains	88		120
Gross Unrealized (Losses)			0
Estimated Fair Value	2,551		2,943
Carrying value	2,551		2,943
U.S. government sponsored enterprise MBS
Available for sale
Amortized Cost	1,420		1,556
Gross Unrealized Gains	14		21
Gross Unrealized (Losses)			0
Estimated Fair Value	1,434		1,577
Carrying value	1,434		1,577
Private issue CMO
Available for sale
Amortized Cost	174	[1]	204
Gross Unrealized Gains			0
Gross Unrealized (Losses)	(1)	[1]	(7)
Estimated Fair Value	173	[1]	197
Carrying value	$ 173	[1]	$ 197
[1]	Collateralized Mortgage Obligations ("CMO").

Investment Securities - Total i

Investment Securities - Total investment securities for amortized cost and estimated fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Investment Securities
Amortized Cost	$ 207,155	$ 123,210
Gross Unrealized Gains	3,535	2,777
Gross Unrealized (Losses)	(81)	(69)
Estimated Fair Value	210,609	125,918
Carrying Value	$ 207,256	$ 123,344

Investment Securities - Investm

Investment Securities - Investments with Unrealized Loss Positions for Held to maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Schedule of Held-to-maturity Securities [Line Items]
Unrealized Holding Losses Less Than 12 Months, Fair Value	$ 10,015	$ 12,731
Unrealized Holding Losses Less Than 12 Months, Unrealized Losses	63	45
Unrealized Holding Losses 12 Months or More, Fair Value	1,886	2,040
Unrealized Holding Losses 12 Months or More, Unrealized Losses	17	17
Unrealized Holding Losses Total, Fair Value	11,901	14,771
Unrealized Holding Losses Total, Unrealized Losses	80	62
U.S. government sponsored enterprise MBS
Schedule of Held-to-maturity Securities [Line Items]
Unrealized Holding Losses Less Than 12 Months, Fair Value	10,015	12,731
Unrealized Holding Losses Less Than 12 Months, Unrealized Losses	63	45
Unrealized Holding Losses 12 Months or More, Fair Value	0	0
Unrealized Holding Losses 12 Months or More, Unrealized Losses	0	0
Unrealized Holding Losses Total, Fair Value	10,015	12,731
Unrealized Holding Losses Total, Unrealized Losses	63	45
U.S. SBA securities
Schedule of Held-to-maturity Securities [Line Items]
Unrealized Holding Losses Less Than 12 Months, Fair Value	0	0
Unrealized Holding Losses Less Than 12 Months, Unrealized Losses	0	0
Unrealized Holding Losses 12 Months or More, Fair Value	1,886	2,040
Unrealized Holding Losses 12 Months or More, Unrealized Losses	17	17
Unrealized Holding Losses Total, Fair Value	1,886	2,040
Unrealized Holding Losses Total, Unrealized Losses	$ 17	$ 17

Investment Securities - Inves_2

Investment Securities - Investments with Unrealized Loss Positions for Available for sale (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Schedule of Available-for-sale Securities [Line Items]
Unrealized Holding Losses, Less Than 12 Months, Fair Value	$ 173	$ 197
Unrealized Holding Losses, Less Than 12 Months, Unrealized Losses	1	7
Unrealized Holding Losses, 12 Months or More, Fair Value	0	0
Unrealized Holding Losses, 12 Months or More, Unrealized Losses	0	0
Unrealized Holding Losses Total, Fair Value	173	197
Unrealized Holding Losses Total, Unrealized Losses	1	7
Private Issue CMO
Schedule of Available-for-sale Securities [Line Items]
Unrealized Holding Losses, Less Than 12 Months, Fair Value	173	197
Unrealized Holding Losses, Less Than 12 Months, Unrealized Losses	1	7
Unrealized Holding Losses, 12 Months or More, Fair Value	0	0
Unrealized Holding Losses, 12 Months or More, Unrealized Losses	0	0
Unrealized Holding Losses Total, Fair Value	173	197
Unrealized Holding Losses Total, Unrealized Losses	$ 1	$ 7

Investment Securities - Inves_3

Investment Securities - Investments with Unrealized Loss Positions for total investment securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Investment Securities
Unrealized Holding Losses Less Than 12 Months, Fair Value	$ 10,188	$ 12,928
Unrealized Holding Losses Less Than 12 Months, Unrealized Losses	64	52
Unrealized Holding Losses 12 Months or More, Fair Value	1,886	2,040
Unrealized Holding Losses 12 Months or More, Unrealized Losses	17	17
Unrealized Holding Losses Total, Fair Value	12,074	14,968
Unrealized Holding Losses Total, Unrealized Losses	$ 81	$ 69

Investment Securities - Sched_3

Investment Securities - Schedule of Held to maturity Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Held to maturity, Amortized Cost
Due in one year or less	$ 1,000	$ 800
Due after one through five years	19,081	19,389
Due after five through ten years	76,934	50,895
Due after ten years	106,083	47,543
Total investment securities - held to maturity, Amortized Cost	203,098	118,627
Held to maturity, Estimated Fair Value
Due in one year or less	1,000	800
Due after one through five years	19,913	20,194
Due after five through ten years	78,367	52,315
Due after ten years	107,171	47,892
Total investment securities - held to maturity, Estimated Fair Value	$ 206,451	$ 121,201

Investment Securities - Sched_4

Investment Securities - Schedule of Available for Sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Available for sale, Amortized Cost
Due in one year or less	$ 0	$ 0
Due after one through five years	0	0
Due after five through ten years	0	0
Due after ten years	4,057	4,583
Total investment securities - available for sale, Amortized Cost	4,057	4,583
Available for sale, Estimated Fair Value
Due in one year or less	0	0
Due after one through five years	0	0
Due after five through ten years	0	0
Due after ten years	4,158	4,717
Total investment securities - available for sale, Estimated Fair Value	$ 4,158	$ 4,717

Investment Securities - Additio

Investment Securities - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Debt Securities, Available-for-sale [Line Items]
Investments with an unrealized loss position	$ 80,000		$ 80,000		$ 62,000
Unrealized holding losses, 12 months or more	17,000		17,000		17,000
Unrealized Holding Losses Total, Unrealized Losses	81,000		81,000		69,000
Impairment loss			0	$ 0
U.S. government sponsored enterprise MBS
Debt Securities, Available-for-sale [Line Items]
Principal payments from investment securities available for sale	12,400,000	$ 8,100,000	21,800,000	$ 17,400,000
Payments to acquire Mortgage Backed Securities (MBS) categorized as Held-to-maturity	21,500,000		106,400,000
Investments with an unrealized loss position	63,000		63,000		45,000
Unrealized holding losses, 12 months or more	0		0		0
U.S. SBA securities
Debt Securities, Available-for-sale [Line Items]
Investments with an unrealized loss position	17,000		17,000		17,000
Unrealized holding losses, 12 months or more	$ 17,000		$ 17,000		$ 17,000

Loans Held for Investment - Sch

Loans Held for Investment - Schedule of Loans Held for Investment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment, gross	$ 857,080		$ 904,466
Advance payments of escrows	142		68
Deferred loan costs, net	6,402		6,527
Allowance for loan losses	(8,538)	$ (8,490)	(8,265)	$ (6,921)	$ (6,929)	$ (7,076)
Total loans held for investment, net	855,086		902,796
Mortgage loans, Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment, gross	102,551		105,235
Allowance for loan losses	(1,132)	(1,162)	(1,110)	(1,058)	(1,085)	(1,050)
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses	(110)	$ (116)	(171)	$ (168)	$ (74)	$ (61)
Mortgage loans, Single-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment, gross	257,864		298,810
Mortgage Loans, Multi Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment, gross	488,412		491,903
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment, gross	7,135		7,801
Undisbursed loan funds	2,700		4,000
Commercial business loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment, gross	882		480
Undisbursed loan funds	520		935
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment, gross	95		94
Undisbursed loan funds	422		448
Mortgage Loans Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment, gross	$ 141		$ 143

Loans Held for Investment - S_2

Loans Held for Investment - Schedule of Loans Held for Investment Contractually Repricing (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Fixed Rate	$ 11,422
Total loans held for investment, gross	857,080	$ 904,466
Mortgage loans, Single-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Fixed Rate	9,817
Total loans held for investment, gross	257,864	298,810
Mortgage Loans, Multi Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Fixed Rate	139
Total loans held for investment, gross	488,412	491,903
Mortgage loans, Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Fixed Rate	285
Total loans held for investment, gross	102,551	105,235
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Fixed Rate	658
Total loans held for investment, gross	7,135	7,801
Mortgage Loans Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Fixed Rate	141
Total loans held for investment, gross	141	143
Commercial business loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Fixed Rate	382
Total loans held for investment, gross	882	480
Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Fixed Rate	0
Total loans held for investment, gross	95	$ 94
Within One Year [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	287,936
Within One Year [Member] | Mortgage loans, Single-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	69,861
Within One Year [Member] | Mortgage Loans, Multi Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	162,764
Within One Year [Member] | Mortgage loans, Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	48,239
Within One Year [Member] | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	6,477
Within One Year [Member] | Commercial business loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	500
Within One Year [Member] | Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	95
After One Year Through 3 Years [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	235,891
After One Year Through 3 Years [Member] | Mortgage loans, Single-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	51,462
After One Year Through 3 Years [Member] | Mortgage Loans, Multi Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	154,224
After One Year Through 3 Years [Member] | Mortgage loans, Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	30,205
After One Year Through 3 Years [Member] | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	0
After One Year Through 3 Years [Member] | Mortgage Loans Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	0
After One Year Through 3 Years [Member] | Commercial business loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	0
After One Year Through 3 Years [Member] | Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	0
After 3 Years Through 5 Years [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	239,539
After 3 Years Through 5 Years [Member] | Mortgage loans, Single-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	62,242
After 3 Years Through 5 Years [Member] | Mortgage Loans, Multi Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	153,475
After 3 Years Through 5 Years [Member] | Mortgage loans, Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	23,822
After 3 Years Through 5 Years [Member] | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	0
After 3 Years Through 5 Years [Member] | Mortgage Loans Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	0
After 3 Years Through 5 Years [Member] | Commercial business loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	0
After 3 Years Through 5 Years [Member] | Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	0
After 5 Years Through 10 Years [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	82,292
After 5 Years Through 10 Years [Member] | Mortgage loans, Single-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	64,482
After 5 Years Through 10 Years [Member] | Mortgage Loans, Multi Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	17,810
After 5 Years Through 10 Years [Member] | Mortgage loans, Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	0
After 5 Years Through 10 Years [Member] | Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	0
After 5 Years Through 10 Years [Member] | Mortgage Loans Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	0
After 5 Years Through 10 Years [Member] | Commercial business loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	0
After 5 Years Through 10 Years [Member] | Consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable, Adjustable Rate	$ 0

Loans Held for Investment - S_3

Loans Held for Investment - Schedule of Gross Loans Held for Investment by Loan Types and Risk Category (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Loans and Leases Receivable, Gross	$ 857,080	$ 904,466
Mortgage loans, Single-family
Loans and Leases Receivable, Gross	257,864	298,810
Mortgage Loans, Multi Family
Loans and Leases Receivable, Gross	488,412	491,903
Mortgage loans, Commercial real estate
Loans and Leases Receivable, Gross	102,551	105,235
Construction
Loans and Leases Receivable, Gross	7,135	7,801
Mortgage Loans Other
Loans and Leases Receivable, Gross	141	143
Commercial business loans
Loans and Leases Receivable, Gross	882	480
Consumer loans
Loans and Leases Receivable, Gross	95	94
Pass
Loans and Leases Receivable, Gross	841,231	890,083
Pass | Mortgage loans, Single-family
Loans and Leases Receivable, Gross	245,747	289,942
Pass | Mortgage Loans, Multi Family
Loans and Leases Receivable, Gross	484,680	488,126
Pass | Mortgage loans, Commercial real estate
Loans and Leases Receivable, Gross	102,551	105,235
Pass | Construction
Loans and Leases Receivable, Gross	7,135	6,098
Pass | Mortgage Loans Other
Loans and Leases Receivable, Gross	141	143
Pass | Commercial business loans
Loans and Leases Receivable, Gross	882	445
Pass | Consumer loans
Loans and Leases Receivable, Gross	95	94
Special Mention
Loans and Leases Receivable, Gross	4,667	8,600
Special Mention | Mortgage loans, Single-family
Loans and Leases Receivable, Gross	935	3,120
Special Mention | Mortgage Loans, Multi Family
Loans and Leases Receivable, Gross	3,732	3,777
Special Mention | Construction
Loans and Leases Receivable, Gross		1,703
Substandard
Loans and Leases Receivable, Gross	11,182	5,783
Substandard | Mortgage loans, Single-family
Loans and Leases Receivable, Gross	$ 11,182	5,748
Substandard | Commercial business loans
Loans and Leases Receivable, Gross		$ 35

Loans Held for Investment - S_4

Loans Held for Investment - Schedule of Allowance For Loan Losses and Recorded Investment in Gross Loans, by Portfolio Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of the period	$ 8,490	$ 6,929	$ 8,265	$ 7,076
Provision (recovery) for loan losses	39	(22)	259	(203)
Recoveries	10	14	15	50
Charge-offs	(1)	0	(1)	(2)
Net recoveries (charge-offs)	9	14	14	48
Balance, end of the period	8,538	6,921	8,538	6,921
Total individually evaluated allowance	570	52	570	52
Total collectively evaluated allowance	7,968	6,869	7,968	6,869
Individually evaluated for impairment	9,237	3,096	9,237	3,096
Collectively evaluated for impairment	847,843	938,644	847,843	938,644
Total Loans Held for Investment, Gross	$ 857,080	$ 941,740	$ 857,080	$ 941,740	$ 904,466
Allowance for loan losses as a percentage of gross loans held for investment at the end of the period	0.99%	0.73%	0.99%	0.73%
Net (recoveries) charge-offs as a percentage of average loans receivable, net, during the period (annualized)	0.00%	(0.01%)	0.00%	(0.01%)
Mortgage loans, Single-family
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of the period	$ 2,671	$ 2,234	$ 2,622	$ 2,709
Provision (recovery) for loan losses	26	(90)	70	(600)
Recoveries	9	13	14	49
Charge-offs	0	0	0	(1)
Balance, end of the period	2,706	2,157	2,706	2,157
Total individually evaluated allowance	570	46	570	46
Total collectively evaluated allowance	2,136	2,111	2,136	2,111
Individually evaluated for impairment	9,237	3,053	9,237	3,053
Collectively evaluated for impairment	248,627	344,291	248,627	344,291
Total Loans Held for Investment, Gross	$ 257,864	$ 347,344	$ 257,864	$ 347,344	298,810
Allowance for loan losses as a percentage of gross loans held for investment at the end of the period	1.05%	0.62%	1.05%	0.62%
Mortgage Loans, Multi Family
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of the period	$ 4,490	$ 3,507	$ 4,329	$ 3,219
Provision (recovery) for loan losses	50	(5)	211	283
Recoveries	0
Charge-offs	0
Balance, end of the period	4,540	3,502	4,540	3,502
Total collectively evaluated allowance	4,540	3,502	4,540	3,502
Collectively evaluated for impairment	488,412	479,151	488,412	479,151
Total Loans Held for Investment, Gross	$ 488,412	$ 479,151	$ 488,412	$ 479,151	491,903
Allowance for loan losses as a percentage of gross loans held for investment at the end of the period	0.93%	0.73%	0.93%	0.73%
Mortgage loans, Commercial real estate
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of the period	$ 1,162	$ 1,085	$ 1,110	$ 1,050
Provision (recovery) for loan losses	(30)	(27)	22	8
Recoveries	0
Charge-offs	0
Balance, end of the period	1,132	1,058	1,132	1,058
Total collectively evaluated allowance	1,132	1,058	1,132	1,058
Collectively evaluated for impairment	102,551	107,613	102,551	107,613
Total Loans Held for Investment, Gross	$ 102,551	$ 107,613	$ 102,551	$ 107,613	105,235
Allowance for loan losses as a percentage of gross loans held for investment at the end of the period	1.10%	0.98%	1.10%	0.98%
Construction
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of the period	$ 116	$ 74	$ 171	$ 61
Provision (recovery) for loan losses	(6)	94	(61)	107
Recoveries	0
Charge-offs	0
Balance, end of the period	110	168	110	168
Total collectively evaluated allowance	110	168	110	168
Collectively evaluated for impairment	7,135	6,914	7,135	6,914
Total Loans Held for Investment, Gross	$ 7,135	$ 6,914	$ 7,135	$ 6,914	7,801
Allowance for loan losses as a percentage of gross loans held for investment at the end of the period	1.54%	2.43%	1.54%	2.43%
Mortgage Loans Other
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of the period	$ 3	$ 20	$ 3	$ 3
Provision (recovery) for loan losses	0	8		(3)
Recoveries	0
Charge-offs	0
Balance, end of the period	3	28	3	28
Total individually evaluated allowance		6		6
Total collectively evaluated allowance	3	22	3	22
Individually evaluated for impairment		43		43
Collectively evaluated for impairment	141	535	141	535
Total Loans Held for Investment, Gross	$ 141	$ 578	$ 141	578	143
Allowance for loan losses as a percentage of gross loans held for investment at the end of the period	2.13%	4.84%	2.13%
Commercial business loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of the period	$ 42		$ 24	26
Provision (recovery) for loan losses	(1)		17	2
Recoveries	0
Charge-offs	0
Balance, end of the period	41	$ 28	41	28
Total individually evaluated allowance		6		6
Total collectively evaluated allowance	41	22	41	22
Individually evaluated for impairment		43		43
Collectively evaluated for impairment	882	535	882	535
Total Loans Held for Investment, Gross	$ 882	578	$ 882	$ 578	480
Allowance for loan losses as a percentage of gross loans held for investment at the end of the period	4.65%		4.65%	4.84%
Consumer loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Balance, beginning of the period	$ 6	9	$ 6	$ 8
Provision (recovery) for loan losses	0	(2)
Recoveries	1	1	1	1
Charge-offs	(1)	0	(1)	(1)
Balance, end of the period	6	8	6	8
Total collectively evaluated allowance	6	8	6	8
Collectively evaluated for impairment	95	140	95	140
Total Loans Held for Investment, Gross	$ 95	$ 140	$ 95	$ 140	$ 94
Allowance for loan losses as a percentage of gross loans held for investment at the end of the period	6.32%	5.71%	6.32%	5.71%

Loans Held for Investment - S_5

Loans Held for Investment - Schedule of Past Due Status of Loans Held for Investment, Gross (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans deemed uncollectible, period of delinquency	90 days	90 days
Current	$ 845,548	$ 898,947
30-89 Days Past Due	350	219
Non-Accrual	11,182	5,300
Total Loans Held for Investment, Gross	857,080	904,466	$ 941,740
Mortgage loans, Single-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	246,334	293,326
30-89 Days Past Due	348	219
Non-Accrual	11,182	5,265
Total Loans Held for Investment, Gross	257,864	298,810	347,344
Mortgage Loans, Multi Family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	488,412	491,903
30-89 Days Past Due	0	0
Non-Accrual	0	0
Total Loans Held for Investment, Gross	488,412	491,903	479,151
Mortgage loans, Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	102,551	105,235
30-89 Days Past Due	0	0
Non-Accrual	0	0
Total Loans Held for Investment, Gross	102,551	105,235	107,613
Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	7,135	7,801
30-89 Days Past Due	0	0
Non-Accrual	0	0
Total Loans Held for Investment, Gross	7,135	7,801	6,914
Mortgage Loans Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	141	143
30-89 Days Past Due	0	0
Non-Accrual	0	0
Total Loans Held for Investment, Gross	141	143	578
Commercial business loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	882	445
30-89 Days Past Due	0	0
Non-Accrual	0	35
Total Loans Held for Investment, Gross	882	480	578
Consumer loans
Financing Receivable, Recorded Investment, Past Due [Line Items]
Current	93	94
30-89 Days Past Due	2	0
Non-Accrual	0	0
Total Loans Held for Investment, Gross	$ 95	$ 94	$ 140
Bankruptcy [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans deemed uncollectible, period of delinquency	60 days
Troubled Debt Restructurings [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans deemed uncollectible, period of delinquency	90 days
Commercial Real Estate Or Second Mortgage [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans deemed uncollectible, period of delinquency	120 days

Loans Held for Investment - S_6

Loans Held for Investment - Schedule of Total Recorded Investment in Non-Performing Loans by Type (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Financing Receivable, Allowance for Credit Losses [Line Items]
Related Allowance	$ (928)	$ (442)
Recorded Investment, with No Related Allowance, Net		4,924
Unpaid Principal Balance	11,651	5,833
Related Charge-Offs	453	467
Recorded Investment	11,198	5,366
Recorded Investment, Net of Allowance	10,270
Mortgage loans, Single-family
Financing Receivable, Allowance for Credit Losses [Line Items]
With a related allowance Unpaid Principal Balance	9,636	3,289
With Related Allowance, Related Charge-Offs		0
With Related Allowance, Recorded Investment	9,636	3,289
Related Allowance	(928)	(438)
Recorded Investment, with Related Allowance, Net	8,708	2,851
Without a related allowance, Unpaid Principal Balance	2,015	2,509
With No Related Allowance, Related Charge-Offs	(453)	(467)
With No Related Allowance, Recorded Investment	1,562	2,042
Recorded Investment, with No Related Allowance, Net	1,562	2,042
Unpaid Principal Balance	11,651	5,798
Related Charge-Offs	453	467
Recorded Investment	11,198	5,331
Recorded Investment, Net of Allowance	$ 10,270	4,893
Commercial business loans
Financing Receivable, Allowance for Credit Losses [Line Items]
With a related allowance Unpaid Principal Balance		35
With Related Allowance, Related Charge-Offs		0
With Related Allowance, Recorded Investment		35
Related Allowance		(4)
Recorded Investment, with No Related Allowance, Net		31
Unpaid Principal Balance		35
Related Charge-Offs		0
Recorded Investment		35
Recorded Investment, Net of Allowance		$ 31

Loans Held for Investment - S_7

Loans Held for Investment - Schedule of Recorded Investment in Non-Performing Loans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
With related allowances, Interest Income Recognized	$ 29	$ 13	$ 70	$ 26
With related allowances, Average Recorded Investment	8,304	1,149	5,923	1,196
Recorded Investment	11,198		11,198		$ 5,366
Related Allowance	(928)		(928)		$ (442)
Non-performing loans, Net Investment	10,270		10,270
Without related allowances, Interest Income Recognized	0	21		131
Without related allowances, Average Recorded Investment	1,570	2,874	1,726	3,522
Impaired Financing Receivable, Interest Income, Accrual Method	29	34	70	157
Impaired Financing Receivable, Average Recorded Investment	9,874	4,023	7,649	4,718
Mortgage loans, Single-family
With related allowances, Interest Income Recognized	29	12	69	24
With related allowances, Average Recorded Investment	8,285	1,105	5,897	1,151
Without related allowances, Interest Income Recognized	0	21		111
Without related allowances, Average Recorded Investment	1,570	2,874	1,726	2,980
Mortgage loans, Commercial real estate
With related allowances, Interest Income Recognized			1	2
With related allowances, Average Recorded Investment			$ 26	45
Commercial business loans
With related allowances, Interest Income Recognized	0	1
With related allowances, Average Recorded Investment	$ 19	$ 44
Construction
Without related allowances, Interest Income Recognized				20
Without related allowances, Average Recorded Investment				$ 542

Loans Held for Investment - S_8

Loans Held for Investment - Schedule of restructured loan balances, net of allowance for loan losses, by loan type and by Nonaccrual Versus Accrual Status (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Financing Receivable, Modifications [Line Items]
Restructured loans on non-accrual status	$ 8,208	$ 2,643
Restructured loans	8,208	2,643
Mortgage loans, Single-family
Financing Receivable, Modifications [Line Items]
Restructured loans on non-accrual status	$ 8,208	2,612
Commercial business loans
Financing Receivable, Modifications [Line Items]
Restructured loans on non-accrual status		$ 31

Loans Held for Investment - S_9

Loans Held for Investment - Schedule of Restructured Loans by Type, Net of Individually Evaluated Allowances (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Dec. 31, 2020USD ($)loan	Jun. 30, 2020USD ($)loan
Financing Receivable, Impaired [Line Items]
Number of modified loans | loan	23	8
Restructured Loans, Allowance for Loan Losses	$ (587)	$ (112)
Restructured Loans, Unpaid Principal Balance	9,160	3,120
Restructured Loans, Related Charge-offs	(365)	(365)
Restructured Loans, Recorded Investment	8,795	2,755
Restructured loans, net investment	8,208	2,643
Mortgage loans, Single-family
Financing Receivable, Impaired [Line Items]
Restructured Loans, With Related Allowance, Unpaid Principal Balance	7,939	1,650
Restructured Loans, With Related Allowance, Related Charge-offs		0
Restructured Loans, With a Related Allowance, Recorded Investment	7,939	1,650
Restructured Loans, Allowance for Loan Losses	(587)	(108)
Restructured loans, with a related allowance, net investment	7,352	1,542
Restructured Loans, Without a Related Allowance, Unpaid Principal Balance	1,221	1,435
Restructured Loans, Without a Related Allowance, Related Charge-offs	(365)	(365)
Restructured Loans, Without a Related Allowance, Recorded Investment	856	1,070
Restructured Loans, Without a Related Allowance, Net Investment	856	1,070
Restructured Loans, Unpaid Principal Balance	9,160	3,085
Restructured Loans, Related Charge-offs	(365)	(365)
Restructured Loans, Recorded Investment	8,795	2,720
Restructured loans, net investment	$ 8,208	2,612
Commercial business loans
Financing Receivable, Impaired [Line Items]
Restructured Loans, With Related Allowance, Unpaid Principal Balance		35
Restructured Loans, With Related Allowance, Related Charge-offs		0
Restructured Loans, With a Related Allowance, Recorded Investment		35
Restructured Loans, Allowance for Loan Losses		(4)
Restructured Loans, Unpaid Principal Balance		35
Restructured Loans, Related Charge-offs		0
Restructured Loans, Recorded Investment		35
Restructured loans, net investment		$ 31

Loans Held for Investment - _10

Loans Held for Investment - Schedule of loan forbearance related to COVID-19 hardship requests (Details)	6 Months Ended
	Dec. 31, 2020USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Forbearance Granted, Number of Loans	65
Forbearance Granted, Amount	$ 26,651,000
Forbearance Completed, Number of Loans	57
Forbearance Completed, Amount	$ 24,053,000
Forbearance Remaining, Number of Loans	8
Forbearance Remaining, Amount	$ 2,598,000
Number of forbearance loans subsequently extended	16
Amount of forbearance loans subsequently extended	$ 6,300,000
% of Total Loans	0.30%
Weighted Avg. LTV	69.00%
Weighted Avg. FICO	721
Weighted Avg. Debt Coverage Ratio	1.26
Weighted Avg. Forbearance Period Granted	5 months 21 days
Mortgage loans, Single-family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Forbearance Granted, Number of Loans	58
Forbearance Granted, Amount	$ 23,239,000
Forbearance Completed, Number of Loans	52
Forbearance Completed, Amount	$ 21,404,000
Forbearance Remaining, Number of Loans	6
Forbearance Remaining, Amount	$ 1,835,000
% of Total Loans	0.21%
Weighted Avg. LTV	75.00%
Weighted Avg. FICO	725
Weighted Avg. Forbearance Period Granted	6 months
Mortgage Loans, Multi Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Forbearance Granted, Number of Loans	5
Forbearance Granted, Amount	$ 2,346,000
Forbearance Completed, Number of Loans	3
Forbearance Completed, Amount	$ 1,583,000
Forbearance Remaining, Number of Loans	2
Forbearance Remaining, Amount	$ 763,000
% of Total Loans	0.09%
Weighted Avg. LTV	56.00%
Weighted Avg. FICO	711
Weighted Avg. Debt Coverage Ratio	1.26
Weighted Avg. Forbearance Period Granted	5 months
Mortgage loans, Commercial real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Forbearance Granted, Number of Loans	2
Forbearance Granted, Amount	$ 1,066,000
Forbearance Completed, Number of Loans	2
Forbearance Completed, Amount	$ 1,066,000

Loans Held for Investment - Add

Loans Held for Investment - Additional Information (Details)	3 Months Ended				6 Months Ended					12 Months Ended
	Dec. 31, 2020USD ($)	Sep. 30, 2020property	Dec. 31, 2019USD ($)	Sep. 30, 2019property	Dec. 31, 2020USD ($)	Dec. 31, 2020USD ($)loan	Dec. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)loan	Jun. 30, 2020USD ($)loan	Jun. 30, 2021
Fixed-rate loans as a percentage of total loans held for investment	1.00%				1.00%	1.00%	1.00%	1.00%			1.00%
Loans deemed uncollectible, period of delinquency					90 days					90 days
Loans held for investment	$ 857,080,000				$ 857,080,000	$ 857,080,000	$ 857,080,000	$ 857,080,000		$ 904,466,000
Total interest payments received	43,000		$ 57,000				93,000		$ 204,000
Interest income, non-performing loans, cash basis	29,000		34,000				70,000		157,000
Interest received to reduce the loan balances under the cost recovery method	14,000		23,000				23,000		47,000
Average investment in non-performing loans	$ 9,874,000		$ 4,023,000				7,649,000		4,718,000
Loans receivable, modified and extended beyond initial maturity							0		$ 0
Number of loans newly restructured	16		0					17	0
Number of modified loans | loan						23				8
Number of forbearance loans downgraded								16
Restructed Loans, Number of Loans Paid off									2
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts	0		0					0	0
Number of loans modified, extended beyond initial maturity | loan									0
Restructured loans on non-accrual status	$ 8,208,000				$ 8,208,000	$ 8,208,000	$ 8,208,000	$ 8,208,000		$ 2,643,000
Number of Properties Acquired in Settlement of Loans | property		0		0
Number of Previously Foreclosed Properties Sold | property		0		0
Forbearance Remaining, Number of Loans	8				8	8	8	8
Forbearance Remaining, Amount	$ 2,598,000				$ 2,598,000	$ 2,598,000	$ 2,598,000	$ 2,598,000
First Trust Deed Loans
Loans deemed uncollectible, period of delinquency					150 days
Mortgage loans, Commercial real estate
Loans held for investment	102,551,000				$ 102,551,000	102,551,000	102,551,000	102,551,000		105,235,000
Mortgage loans, Single-family
Restructured loans on non-accrual status	8,208,000				$ 8,208,000	8,208,000	8,208,000	8,208,000		2,612,000
Commercial business loans
Restructured loans on non-accrual status										31,000
Bankruptcy [Member]
Loans deemed uncollectible, period of delinquency					60 days
Troubled Debt Restructurings [Member]
Loans deemed uncollectible, period of delinquency					90 days
Loans held for investment	2,600,000				$ 2,600,000	2,600,000	2,600,000	2,600,000
Commercial Real Estate Or Second Mortgage [Member]
Loans deemed uncollectible, period of delinquency					120 days
Restructured loans on accrual status
Loans held for investment	8,200,000				$ 8,200,000	8,200,000	8,200,000	8,200,000
Maximum
Segregated restructured loans, period of delinquency					90 days
Maximum | Bankruptcy [Member]
Allowance for loan losses, pooling method, period of delinquency					60 days
Substandard
Loans held for investment	11,182,000				$ 11,182,000	11,182,000	11,182,000	11,182,000		5,783,000
Number of restructured loan downgraded									1
Pass
Loans held for investment	841,231,000				841,231,000	$ 841,231,000	841,231,000	$ 841,231,000		890,083,000
Number of modified loans			1
Number of restructured loan upgraded			1			1		2	1
Special Mention
Loans held for investment	4,667,000				4,667,000	$ 4,667,000	4,667,000	$ 4,667,000		8,600,000
Current
Loans held for investment										$ 1,200,000
Percent of total restructured loans on current status										44.00%
Mortgage loans, Single-family
Loans held for investment	$ 257,864,000				$ 257,864,000	$ 257,864,000	$ 257,864,000	$ 257,864,000		$ 298,810,000
Percent of total restructured loans on current status	0.21%				0.21%	0.21%	0.21%	0.21%
Forbearance Remaining, Number of Loans	6				6	6	6	6
Forbearance Remaining, Amount	$ 1,835,000				$ 1,835,000	$ 1,835,000	$ 1,835,000	$ 1,835,000
Number of loan pending requests for payment relief, amount	684,000				684,000	684,000	684,000	684,000
Mortgage loans, Single-family | Substandard
Loans held for investment	11,182,000				11,182,000	11,182,000	11,182,000	11,182,000		5,748,000
Mortgage loans, Single-family | Pass
Loans held for investment	245,747,000				245,747,000	245,747,000	245,747,000	245,747,000		289,942,000
Mortgage loans, Single-family | Special Mention
Loans held for investment	935,000				935,000	935,000	935,000	935,000		3,120,000
Mortgage Loans, Multi Family
Loans held for investment	$ 488,412,000				$ 488,412,000	$ 488,412,000	$ 488,412,000	$ 488,412,000		491,903,000
Percent of total restructured loans on current status	0.09%				0.09%	0.09%	0.09%	0.09%
Forbearance Remaining, Number of Loans	2				2	2	2	2
Forbearance Remaining, Amount	$ 763,000				$ 763,000	$ 763,000	$ 763,000	$ 763,000
Number of loan pending requests for payment relief, amount	1,100,000				1,100,000	1,100,000	1,100,000	1,100,000
Mortgage Loans, Multi Family | Pass
Loans held for investment	484,680,000				484,680,000	484,680,000	484,680,000	484,680,000		488,126,000
Mortgage Loans, Multi Family | Special Mention
Loans held for investment	$ 3,732,000				$ 3,732,000	$ 3,732,000	$ 3,732,000	$ 3,732,000		$ 3,777,000

Derivative and Other Financia_3

Derivative and Other Financial Instruments with Off-Balance Sheet Risks - Schedule of Undisbursed Funds Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Derivative [Line Items]
Total	$ 15,959	$ 18,991
Undisbursed loan funds - Construction loans
Derivative [Line Items]
Total	2,736	4,029
Undisbursed lines of credit - Commercial business loans
Derivative [Line Items]
Total	520	935
Undisbursed lines of credit - Consumer loans
Derivative [Line Items]
Total	422	448
Commitments to extend credit on loans to be held for investment
Derivative [Line Items]
Total	$ 12,281	$ 13,579

Derivative and Other Financia_4

Derivative and Other Financial Instruments with Off-Balance Sheet Risks - Schedule of Allowance for Loan Losses of Undisbursed Funds and Commitments on Loans Held for Investment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of the period	$ 8,490	$ 6,929	$ 8,265	$ 7,076
Provision (recovery)	39	(22)	259	(203)
Balance, end of the period	8,538	6,921	8,538	6,921
Loan Commitments to Originate
Allowance for Loan and Lease Losses [Roll Forward]
Balance, beginning of the period	104	143	126	141
Provision (recovery)	(3)	(5)	(25)	(3)
Balance, end of the period	$ 101	$ 138	$ 101	$ 138

Derivative and Other Financia_5

Derivative and Other Financial Instruments with Off-Balance Sheet Risks - Summary of the recourse liability (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Summary Of Recourse Liability [Roll Forward]
Balance, beginning of the period	$ 370	$ 250	$ 270	$ 250
Provision for recourse liability	20	0	120	0
Net settlements in lieu of loan repurchases	0	0	0	0
Balance, end of the period	$ 390	$ 250	$ 390	$ 250

Derivative and Other Financia_6

Derivative and Other Financial Instruments with Off-Balance Sheet Risks - Additional Information (Details)	3 Months Ended		6 Months Ended
	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan	Dec. 31, 2019USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Derivative [Line Items]
Commitments to extend credit	$ 6,200,000				$ 7,400,000
Outstanding derivative financial instruments	$ 0				0
Number Of Loans Repurchased | loan	0	2
Debt Instrument Repurchased During Period		$ 520,000
Loan Repurchased, Bank			$ 1,100,000
Recourse Liability	$ 390,000	$ 250,000	$ 250,000	$ 370,000	270,000	$ 250,000	$ 250,000
Other Investors
Derivative [Line Items]
Recourse Liability	350,000				200,000
FHLB - San Francisco [Member]
Derivative [Line Items]
Recourse Liability	$ 40,000				$ 70,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Fair Value of Financial Instruments
Loans held for investment, Aggregate Fair Value	$ 1,972	$ 2,258
Loans held for investment, Aggregate Unpaid Principal Balance	2,097	2,369
Loans held for investment, Net Unrealized Loss	$ (125)	$ (111)

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Corporation's assets measured at fair value on a recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment, at fair value	$ 1,972	$ 2,258
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	4,158	4,717
Loans held for investment, at fair value	1,972	2,258
Interest-only strips	12	14
Total assets	6,142	6,989
Liabilities	0
Total liabilities	0
Recurring | U.S. government agency MBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	2,551	2,943
Recurring | U.S. government sponsored enterprise MBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	1,434	1,577
Recurring | Private issue CMO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	173	197
Recurring | Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	0	0
Loans held for investment, at fair value	0	0
Interest-only strips	0	0
Total assets	0	0
Liabilities	0	0
Total liabilities	0	0
Recurring | Fair Value, Inputs, Level 1 | U.S. government agency MBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	0	0
Recurring | Fair Value, Inputs, Level 1 | U.S. government sponsored enterprise MBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	0	0
Recurring | Fair Value, Inputs, Level 1 | Private issue CMO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	0	0
Recurring | Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	3,985	4,520
Loans held for investment, at fair value	0	0
Interest-only strips	0	0
Total assets	3,985	4,520
Liabilities	0	0
Total liabilities	0	0
Recurring | Fair Value, Inputs, Level 2 | U.S. government agency MBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	2,551	2,943
Recurring | Fair Value, Inputs, Level 2 | U.S. government sponsored enterprise MBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	1,434	1,577
Recurring | Fair Value, Inputs, Level 2 | Private issue CMO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	0	0
Recurring | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	173	197
Loans held for investment, at fair value	1,972	2,258
Interest-only strips	12	14
Total assets	2,157	2,469
Liabilities	0	0
Total liabilities	0	0
Recurring | Fair Value, Inputs, Level 3 | U.S. government agency MBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	0	0
Recurring | Fair Value, Inputs, Level 3 | U.S. government sponsored enterprise MBS
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	0	0
Recurring | Fair Value, Inputs, Level 3 | Private issue CMO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities - available for sale	$ 173	$ 197

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Schedule of Reconciliation of Beginning and Ending Balances of Recurring Fair Value Measurements Using Level 3 Inputs (Details) - Fair Value, Inputs, Level 3 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 2,437	$ 4,653	$ 2,469	$ 5,379
Total gains or losses (realized/unrealized) Included in earnings	(11)	31	(15)	13
Total gains or losses (realized/unrealized) Included in other comprehensive income (loss)	1	(4)	4	(6)
Purchases	0	0
Issuances	0	0
Settlements	(270)	(263)	(301)	(969)
Transfers in and/or out of Level 3	0	0
Ending balance	2,157	4,417	2,157	4,417
Private issue CMO
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	184	253	197	269
Total gains or losses (realized/unrealized) Included in earnings	0	0
Total gains or losses (realized/unrealized) Included in other comprehensive income (loss)	2	(3)	6	(3)
Purchases	0	0
Issuances	0	0
Settlements	(13)	(19)	(30)	(35)
Transfers in and/or out of Level 3	0	0
Ending balance	173	231	173	231
Loans Held For Investment at Fair Value
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	2,240	4,386	2,258	5,094
Total gains or losses (realized/unrealized) Included in earnings	(11)	31	(15)	13
Total gains or losses (realized/unrealized) Included in other comprehensive income (loss)	0	0
Purchases	0	0
Issuances	0	0
Settlements	(257)	(244)	(271)	(934)
Transfers in and/or out of Level 3	0	0
Ending balance	1,972	4,173	1,972	4,173
Interest-Only Strips
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	13	14	14	16
Total gains or losses (realized/unrealized) Included in earnings	0	0
Total gains or losses (realized/unrealized) Included in other comprehensive income (loss)	(1)	(1)	(2)	(3)
Purchases	0	0
Issuances	0	0
Settlements	0	0
Transfers in and/or out of Level 3	0	0
Ending balance	$ 12	$ 13	$ 12	$ 13

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Corporation's assets measured at fair value at the dates indicated on a nonrecurring basis (Details) - Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-performing loans	$ 10,270	$ 4,924
Mortgage servicing assets	233	382
Total assets	10,503	5,306
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-performing loans	0	0
Mortgage servicing assets	0	0
Total assets	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-performing loans	1,562	2,042
Mortgage servicing assets	0	0
Total assets	1,562	2,042
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Non-performing loans	8,708	2,882
Mortgage servicing assets	233	382
Total assets	$ 8,941	$ 3,264

Fair Value of Financial Instr_7

Fair Value of Financial Instruments - Valuation techniques and inputs used (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2020USD ($)
Private issue CMO | Weighted Average | Market comparable pricing | Comparability adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	(0.30%)
Loans Held For Investment at Fair Value | Weighted Average | Relative value analysis | Broker quotes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	99.90%
Loans Held For Investment at Fair Value | Weighted Average | Relative value analysis | Credit risk factors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	5.90%
Non-performing loans | Weighted Average | Relative value analysis | Credit risk factors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	20.10%
Mortgage servicing assets | Weighted Average | Discounted cash flow | Prepayment speed (CPR)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	29.60%
Mortgage servicing assets | Weighted Average | Discounted cash flow | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	9.10%
Interest-Only Strips | Weighted Average | Discounted cash flow | Prepayment speed (CPR)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	22.90%
Fair Value, Inputs, Level 3 | Private issue CMO
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 173
Fair Value, Inputs, Level 3 | Private issue CMO | Market comparable pricing | Comparability adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impact to valuation from an increase in inputs on assets	Increase
Fair Value, Inputs, Level 3 | Private issue CMO | Minimum | Market comparable pricing | Comparability adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	(0.10%)
Fair Value, Inputs, Level 3 | Private issue CMO | Maximum | Market comparable pricing | Comparability adjustment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	(1.40%)
Fair Value, Inputs, Level 3 | Loans Held For Investment at Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 1,972
Fair Value, Inputs, Level 3 | Loans Held For Investment at Fair Value | Minimum | Relative value analysis | Broker quotes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	97.60%
Fair Value, Inputs, Level 3 | Loans Held For Investment at Fair Value | Minimum | Relative value analysis | Credit risk factors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	1.40%
Fair Value, Inputs, Level 3 | Loans Held For Investment at Fair Value | Maximum | Relative value analysis | Broker quotes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	102.00%
Fair Value, Inputs, Level 3 | Loans Held For Investment at Fair Value | Maximum | Relative value analysis | Credit risk factors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	100.00%
Fair Value, Inputs, Level 3 | Non-performing loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 7,352
Fair Value, Inputs, Level 3 | Non-performing loans | Discounted cash flow | Default rates.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impact to valuation from an increase in inputs on assets	Decrease
Assets Fair Value Measurement Input	5.00%
Fair Value, Inputs, Level 3 | Mortgage servicing assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 233
Fair Value, Inputs, Level 3 | Mortgage servicing assets | Minimum | Discounted cash flow | Prepayment speed (CPR)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	20.40%
Fair Value, Inputs, Level 3 | Mortgage servicing assets | Minimum | Discounted cash flow | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	9.00%
Fair Value, Inputs, Level 3 | Mortgage servicing assets | Maximum | Discounted cash flow | Prepayment speed (CPR)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	60.00%
Fair Value, Inputs, Level 3 | Mortgage servicing assets | Maximum | Discounted cash flow | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	10.50%
Fair Value, Inputs, Level 3 | Interest-Only Strips
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 12
Fair Value, Inputs, Level 3 | Interest-Only Strips | Discounted cash flow | Discount rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	9.00%
Fair Value, Inputs, Level 3 | Interest-Only Strips | Minimum | Discounted cash flow | Prepayment speed (CPR)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	20.40%
Fair Value, Inputs, Level 3 | Interest-Only Strips | Maximum | Discounted cash flow | Prepayment speed (CPR)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	23.00%
Fair Value, Inputs, Level 3 | Non-performing loans one
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 1,356
Fair Value, Inputs, Level 3 | Non-performing loans one | Relative value analysis | Credit risk factors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impact to valuation from an increase in inputs on assets	Decrease
Fair Value, Inputs, Level 3 | Non-performing loans one | Minimum | Relative value analysis | Credit risk factors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	20.00%
Fair Value, Inputs, Level 3 | Non-performing loans one | Maximum | Relative value analysis | Credit risk factors
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets Fair Value Measurement Input	30.00%

Fair Value of Financial Instr_8

Fair Value of Financial Instruments - Carrying amount and fair value of the Corporation's other financial instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Jun. 30, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities - held to maturity	$ 203,098	$ 118,627
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities - held to maturity	0	0
Loans held for investment, not recorded at fair value	0	0
FHLB - San Francisco stock	0	0
Deposits	0	0
Borrowings	0	0
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities - held to maturity	206,451	121,201
Loans held for investment, not recorded at fair value	0	0
FHLB - San Francisco stock	7,970	7,970
Deposits	0	0
Borrowings	0	0
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities - held to maturity	0	0
Loans held for investment, not recorded at fair value	854,482	902,074
FHLB - San Francisco stock	0	0
Deposits	879,153	864,239
Borrowings	120,942	149,976
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities - held to maturity	203,098	118,627
Loans held for investment, not recorded at fair value	853,114	900,538
FHLB - San Francisco stock	7,970	7,970
Deposits	909,968	892,969
Borrowings	116,015	141,047
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment securities - held to maturity	206,451	121,201
Loans held for investment, not recorded at fair value	854,482	902,074
FHLB - San Francisco stock	7,970	7,970
Deposits	879,153	864,239
Borrowings	$ 120,942	$ 149,976

Reclassification Adjustment o_3

Reclassification Adjustment of Accumulated Other Comprehensive Income ("AOCI") (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	$ 99	$ 148	$ 104	$ 161
Other comprehensive loss before reclassifications	(19)	(15)	(24)	(28)
Amount reclassified from accumulated other comprehensive income	0	0
Net other comprehensive loss	(19)	(15)	(24)	(28)
Ending balance	80	133	80	133
Available for sale
Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	90	138	94	150
Other comprehensive loss before reclassifications	(19)	(14)	(23)	(26)
Amount reclassified from accumulated other comprehensive income	0	0
Net other comprehensive loss	(19)	(14)	(23)	(26)
Ending balance	71	124	71	124
Interest-Only Strips
Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	9	10	10	11
Other comprehensive loss before reclassifications		(1)	(1)	(2)
Amount reclassified from accumulated other comprehensive income	0	0
Net other comprehensive loss		(1)	(1)	(2)
Ending balance	$ 9	$ 9	$ 9	$ 9

Revenue From Contracts With C_3

Revenue From Contracts With Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Loan servicing and other fees	$ 120	$ 367	$ 525	$ 500
Other	157	155	237	255
Total non-interest income	974	1,344	2,133	2,414
Deposit account fees
Revenue within the scope of ASC 606	329	451	639	898
Card and processing fees
Revenue within the scope of ASC 606	368	371	732	761
BOLI
Other	$ 48	$ 47	$ 96	$ 94

Leases - Supplemental informati

Leases - Supplemental information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Leases
Lease expense	$ 210,000	$ 211,000	$ 421,000	$ 401,000
Condensed Consolidated Statements of Condition:
Premises and equipment - Operating lease right of use assets	2,393,000		2,393,000		$ 2,525,000
Accounts payable, accrued interest and other liabilities - Operating lease liabilities	2,478,000		2,478,000		$ 2,640,000
Condensed Consolidated Statements of Operations:
Premises and occupancy expenses from operating leases	199,000	195,000	398,000	374,000
Equipment expenses from operating leases	$ 11,000	$ 16,000	23,000	27,000
Condensed Consolidated Statements of Cash Flows:
Operating cash flows from operating leases, net			$ 451,000	$ 563,000

Leases - Remaining contractual

Leases - Remaining contractual lease payments and other information (Details) $ in Thousands	Dec. 31, 2020USD ($)
Remaining minimum contractual lease payments and other information associated with the leases
2021	$ 455
2022	778
2023	469
2024	359
2025	255
Thereafter	275
Total contract lease payments	2,591
Total liability to make lease payments	2,478
Difference in undiscounted and discounted future lease payments	$ 113
Weighted average discount rate	2.00%
Weighted average remaining lease term (years)	4 years 1 month 6 days

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent event	Jan. 28, 2021$ / shares
Subsequent Event [Line Items]
Dividends declared date	Jan. 28, 2021
Quarterly cash dividend declared, common stock	$ 0.14
Dividend, date of record	Feb. 18, 2021
Dividends payable, date	Mar. 11, 2021