Oritani Financial 10-Q 10 May 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2019	May 10, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Oritani Financial Corp.
Entity Central Index Key	0001483195
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding	45,080,139	45,093,052
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Assets
Cash on hand and in banks	$ 14,982	$ 23,613
Federal funds sold and short term investments	2,513	11,235
Cash and cash equivalents	17,495	34,848
Loans, net	3,495,388	3,540,903
Equity securities	1,378	1,565
Debt securities available for sale, at market value	35,013	43,126
Debt securities held to maturity, fair value of $333,066 and $326,511, respectively.	335,579	335,374
Bank Owned Life Insurance (at cash surrender value)	100,266	98,438
Federal Home Loan Bank of New York ("FHLB") stock, at cost	26,074	30,365
Accrued interest receivable	11,985	11,261
Real estate owned	636	1,564
Office properties and equipment, net	13,039	13,455
Deferred tax assets, net	28,952	25,864
Other assets	8,897	30,276
Total Assets	4,074,702	4,167,039
Liabilities
Deposits	2,898,638	2,915,128
Borrowings	548,775	596,372
Advance payments by borrowers for taxes and insurance	28,095	24,169
Other liabilities	68,477	72,024
Total Liabilities	3,543,985	3,607,693
Stockholders' Equity
Common stock, $0.01 par value; 150,000,000 shares authorized; 56,245,065 shares issued; 45,080,139 shares outstanding at March 31, 2019 and 46,616,646 shares outstanding at June 30, 2018.	562	562
Additional paid-in capital	515,138	514,002
Non-vested restricted stock awards	(241)	(176)
Treasury stock, at cost; 11,164,926 shares at March 31, 2019 and 9,628,419 shares at June 30, 2018.	(153,324)	(129,433)
Unallocated common stock held by the employee stock ownership plan	(15,437)	(16,631)
Retained earnings	180,007	179,799
Accumulated other comprehensive income, net of tax	4,012	11,223
Total Stockholders' Equity	530,717	559,346
Total Liabilities and Stockholders' Equity	$ 4,074,702	$ 4,167,039

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Assets
Debt securities held to maturity, fair value	$ 333,066	$ 326,511
Stockholders' Equity
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	56,245,065	56,245,065
Common stock, shares outstanding (in shares)	45,080,139	46,616,646
Treasury stock, shares (in shares)	11,164,926	9,628,419

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Interest income:
Interest on loans	$ 35,323	$ 35,398	$ 107,360	$ 107,126
Dividends on FHLB stock	467	432	1,396	1,368
Dividends on equity securities	15	10	37	34
Interest on debt securities available for sale	211	274	673	1,203
Interest on debt securities held to maturity	2,178	1,419	6,109	3,663
Interest on federal funds sold and short term investments	29	28	331	139
Total interest income	38,223	37,561	115,906	113,533
Interest expense:
Deposits	10,827	7,887	29,803	23,028
Borrowings	3,287	2,721	9,672	8,300
Total interest expense	14,114	10,608	39,475	31,328
Net interest income before provision for loan losses	24,109	26,953	76,431	82,205
Reversal of provision for loan losses	0	0	(2,000)	0
Net interest income after provision for loan losses	24,109	26,953	78,431	82,205
Non-interest income:
Fees and service charges	405	371	1,044	1,010
Bank-owned life insurance	594	603	1,828	1,879
Gains (Losses) on sale of OREO	0	0	855	(2)
Change in fair value of equity securities	87	0	(187)	0
Net losses on sale of debt securities available for sale	0	0	0	(324)
Other income	9	7	18	16
Total non-interest income	1,095	981	3,558	2,579
Non-interest expense:
Compensation, payroll taxes and fringe benefits	5,958	6,277	17,470	19,619
Advertising	143	143	428	428
Office occupancy and equipment expense	820	862	2,315	2,391
Data processing service fees	527	499	1,545	1,463
Federal insurance premiums	270	300	855	900
Other expenses	1,423	1,681	6,903	4,690
Total non-interest expense	9,141	9,762	29,516	29,491
Income before income tax expense	16,063	18,172	52,473	55,293
Income tax expense	3,613	4,747	13,197	25,902
Net income	$ 12,450	$ 13,425	$ 39,276	$ 29,391
Earnings per basic common share (in dollars per share)	$ 0.29	$ 0.30	$ 0.90	$ 0.67
Earnings per diluted common share (in dollars per share)	$ 0.28	$ 0.30	$ 0.89	$ 0.65

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Net of tax:
Net income	$ 12,450	$ 13,425	$ 39,276	$ 29,391
Other comprehensive income:
Change in unrealized holding gain (loss) on debt securities available for sale	159	(298)	318	(663)
Reclassification adjustment for security loss included in net income	0	0	0	184
Amortization related to post-retirement obligations	6	5	20	15
Net change in unrealized (loss) gain on interest rate swaps	(2,898)	3,819	(6,891)	5,556
Total other comprehensive (loss) income	(2,733)	3,526	(6,553)	5,092
Total comprehensive income	$ 9,717	$ 16,951	$ 32,723	$ 34,483

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Shares Outstanding [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Non-vested Restricted Stock Awards [Member]	Treasury Stock [Member]	Unallocated Common Stock Held by ESOP [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss), Net of Tax [Member]	Total
Balance at Jun. 30, 2017		$ 562	$ 512,337	$ (458)	$ (136,517)	$ (18,407)	$ 198,186	$ 3,520	$ 559,223
Balance (in shares) at Jun. 30, 2017	45,992,366
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		0	0	0	0	0	29,391	0	29,391
Other comprehensive income (loss), net of tax		0	0	0	0	0	0	5,092	5,092
Cash dividends declared		0	0	0	0	0	(46,219)	0	(46,219)
Purchase of treasury stock		0	0	0	(7,834)	0	0	0	(7,834)
Purchase of treasury stock (in shares)	(492,458)
Compensation cost for stock options and restricted stock		0	138	0	0	0	0	0	138
ESOP shares allocated or committed to be released		0	1,414	0	0	1,426	0	0	2,840
Exercise of stock options		0	0	0	14,838	0	(2,837)	0	12,001
Exercise of stock options (in shares)	1,111,368
Forfeiture of restricted stock awards		0	0	87	(87)	0	0	0	0
Forfeiture of restricted stock awards (in shares)	(7,000)
Vesting of restricted stock awards		0	(210)	170	0	0	40	0	0
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect (Accounting Standards Update 2018-02 [Member]) at Mar. 31, 2018		0	0	0	0	0	(1,100)	1,100	0
Balance at Mar. 31, 2018		562	513,679	(201)	(129,600)	(16,981)	177,461	9,712	554,632
Balance (in shares) at Mar. 31, 2018	46,604,276
Balance at Dec. 31, 2017		562	513,316	(201)	(132,371)	(17,331)	178,484	5,086	547,545
Balance (in shares) at Dec. 31, 2017	46,304,550
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		0	0	0	0	0	13,425	0	13,425
Other comprehensive income (loss), net of tax		0	0	0	0	0	0	3,526	3,526
Cash dividends declared		0	0	0	0	0	(11,060)	0	(11,060)
Purchase of treasury stock		0	0	0	(7,753)	0	0	0	(7,753)
Purchase of treasury stock (in shares)	(487,671)
Compensation cost for stock options and restricted stock		0	37	0	0	0	0	0	37
ESOP shares allocated or committed to be released		0	326	0	0	350	0	0	676
Exercise of stock options		0	0	0	10,524	0	(2,288)	0	8,236
Exercise of stock options (in shares)	787,397
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect (Accounting Standards Update 2018-02 [Member]) at Mar. 31, 2018		0	0	0	0	0	(1,100)	1,100	0
Balance at Mar. 31, 2018		562	513,679	(201)	(129,600)	(16,981)	177,461	9,712	554,632
Balance (in shares) at Mar. 31, 2018	46,604,276
Balance at Jun. 30, 2018		562	514,002	(176)	(129,433)	(16,631)	179,799	11,223	$ 559,346
Balance (in shares) at Jun. 30, 2018	46,616,646								46,616,646
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		0	0	0	0	0	39,276	0	$ 39,276
Other comprehensive income (loss), net of tax		0	0	0	0	0	0	(6,553)	(6,553)
Cash dividends declared		0	0	0	0	0	(39,198)	0	(39,198)
Purchase of treasury stock		0	0	0	(28,747)	0	0	0	(28,747)
Purchase of treasury stock (in shares)	(1,890,767)
Issuance of restricted stock awards		0	0	(134)	134	0	0	0	0
Issuance of restricted stock awards (in shares)	10,000
Compensation cost for stock options and restricted stock		0	121	0	0	0	0	0	121
ESOP shares allocated or committed to be released		0	1,101	0	0	1,194	0	0	2,295
Exercise of stock options		0	0	0	4,722	0	(545)	0	4,177
Exercise of stock options (in shares)	344,260
Vesting of restricted stock awards		0	(86)	69	0	0	17	0	0
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect (Accounting Standards Update 2016-01 [Member]) at Mar. 31, 2019		0	0	0	0	0	658	(658)	0
Balance at Mar. 31, 2019		562	515,138	(241)	(153,324)	(15,437)	180,007	4,012	$ 530,717
Balance (in shares) at Mar. 31, 2019	45,080,139								45,080,139
Balance at Dec. 31, 2018		562	514,744	(241)	(157,831)	(15,789)	178,865	6,745	$ 527,055
Balance (in shares) at Dec. 31, 2018	44,751,879
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		0	0	0	0	0	12,450	0	12,450
Other comprehensive income (loss), net of tax		0	0	0	0	0	0	(2,733)	(2,733)
Cash dividends declared		0	0	0	0	0	(10,773)	0	(10,773)
Compensation cost for stock options and restricted stock		0	35	0	0	0	0	0	35
ESOP shares allocated or committed to be released		0	359	0	0	352	0	0	711
Exercise of stock options		0	0	0	4,507	0	(535)	0	3,972
Exercise of stock options (in shares)	328,260
Tax Cuts and Jobs Act of 2017, Reclassification from AOCI to Retained Earnings, Tax Effect (Accounting Standards Update 2016-01 [Member]) at Mar. 31, 2019		0	0	0	0	0	658	(658)	0
Balance at Mar. 31, 2019		$ 562	$ 515,138	$ (241)	$ (153,324)	$ (15,437)	$ 180,007	$ 4,012	$ 530,717
Balance (in shares) at Mar. 31, 2019	45,080,139								45,080,139

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Consolidated Statements of Stockholders' Equity (Unaudited) [Abstract]
Cash dividend declared per share (in dollars per share)	$ 0.25	$ 0.25	$ 0.90	$ 1.05

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net income	$ 39,276	$ 29,391
Adjustments to reconcile net income to net cash provided by operating activities:
ESOP and stock-based compensation expense	2,416	2,978
Tax benefit from stock-based compensation	260	1,120
Depreciation of premises and equipment	561	583
Net amortization and accretion of premiums and discounts on securities	872	873
Reversal of provision for loan losses	(2,000)	0
Amortization and accretion of deferred loan fees, net	(1,837)	(1,865)
(Increase) decrease in deferred taxes	(323)	10,581
Net losses on sale of debt securities available for sale	0	324
Fair value adjustment for equity securities	187	0
(Gain) loss on sale of real estate owned	(855)	2
Increase in cash surrender value of bank owned life insurance	(1,828)	(1,878)
Increase in accrued interest receivable	(724)	(818)
Decrease (increase) in other assets	11,595	(10,193)
(Decrease) increase in other liabilities	(3,777)	16,843
Net cash provided by operating activities	43,823	47,941
Cash flows from investing activities:
Net decrease in loans receivable	160,361	54,505
Purchase of mortgage loans	(119,069)	(52,766)
Proceeds from sale of loans receivable	8,060	0
Purchase of debt securities held to maturity	(53,369)	(97,980)
Purchase of Federal Home Loan Bank stock	(17,624)	(31,692)
Proceeds from payments, calls and maturities of debt securities available for sale	8,506	18,989
Proceeds from payments, calls and maturities of debt securities held to maturity	52,365	34,060
Proceeds from sales of debt securities available for sale	0	29,505
Proceeds from redemption of Federal Home Loan Bank stock	21,915	38,361
Proceeds from sale of real estate owned	1,783	138
Purchase of fixed assets	(145)	(207)
Net cash provided by (used in )investing activities	62,783	(7,087)
Cash flows from financing activities:
Net (decrease) increase in deposits	(16,490)	97,998
Purchase of treasury stock	(28,747)	(7,834)
Dividends paid to shareholders	(39,198)	(46,219)
Exercise of stock options	4,177	12,001
Increase in advance payments by borrowers for taxes and insurance	3,926	3,157
Proceeds from borrowed funds	70,627	57,870
Repayment of borrowed funds	(118,224)	(167,815)
Payment of employee taxes withheld from shared-based awards	(30)	(81)
Net cash used in financing activities	(123,959)	(50,923)
Net decrease in cash and cash equivalents	(17,353)	(10,069)
Cash and cash equivalents at beginning of period	34,848	33,578
Cash and cash equivalents at end of period	17,495	23,509
Cash paid during the period for:
Interest	39,194	31,186
Income taxes	9,709	9,611
Noncash transfer
Loans receivable transferred to real estate owned	$ 0	$ 636

Basis of Presentation

Basis of Presentation	9 Months Ended
	Mar. 31, 2019
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation The consolidated financial statements are composed of the accounts of Oritani Financial Corp., its wholly owned subsidiary, Oritani Bank (the “Bank”) and the wholly owned subsidiaries of Oritani Bank; Oritani Finance Company, Ormon LLC (“Ormon”), and Oritani Investment Corp., as well as its wholly owned subsidiary, Oritani Asset Corporation (a real estate investment trust), (collectively, the "Company"). Intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all of the adjustments (consisting of normal and recurring adjustments) necessary for the fair presentation of the consolidated financial condition and the consolidated results of operations for the unaudited periods presented have been included. The results of operations and other data presented for the nine month period ended March 31, 2019 are not necessarily indicative of the results of operations that may be expected for the fiscal year ending June 30, 2019. Certain information and note disclosures usually included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for the preparation of the Form 10-Q. The consolidated financial statements presented should be read in conjunction with the Company’s audited consolidated financial statements and notes to consolidated financial statements included in the Company’s June 30, 2018 Annual Report on Form 10-K, filed with the SEC on August 29, 2018. The consolidated financial statements have been prepared in conformity with GAAP. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities presented in the Consolidated Balance Sheets at March 31, 2019 and June 30, 2018 and in the Consolidated Statements of Income for the Three and Nine Months Ended March 31, 2019 and 2018. Actual results could differ significantly from those estimates. A material estimate that is particularly susceptible to significant changes relates to the determination of the allowance for loan losses. The allowance for loan losses represents management’s best estimate of losses known and incurred in the portfolio that are both probable and reasonable to estimate. While management uses the most current information available to estimate losses on loans, actual losses are dependent on future events and, as such, increases in the allowance for loan losses may be necessary. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance based on their judgments about information available to them at the time of their examination.

Earnings Per Share ("EPS")

Earnings Per Share ("EPS")	9 Months Ended
	Mar. 31, 2019
Earnings Per Share ("EPS") [Abstract]
Earnings Per Share ("EPS")	2. Earnings Per Share ("EPS") Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. The weighted average common shares outstanding includes the average number of shares of common stock outstanding and allocated or committed to be released Employee Stock Ownership Plan shares. Diluted earnings per share is computed using the same method as basic earnings per share, but reflects the potential dilution that could occur if stock options were exercised and converted into common stock. These potentially dilutive shares would then be included in the weighted average number of shares outstanding for the period using the treasury stock method. When applying the treasury stock method, we add the assumed proceeds from option exercises and the average unamortized compensation costs related to stock options. We then divide this sum by our average stock price to calculate shares assumed to be repurchased. The excess of the number of shares issuable over the number of shares assumed to be repurchased is added to basic weighted average common shares to calculate diluted EPS. The following is a summary of the Company’s earnings per share calculations and reconciliation of basic to diluted earnings per share. Three Months ended March 31, Nine Months ended March 31, 2019 2018 2019 2018 (In thousands, except per share data) Net income $ 12,450 $ 13,425 $ 39,276 $ 29,391 Weighted average common shares outstanding—basic 43,078 44,319 43,732 44,105 Effect of dilutive stock options outstanding 660 785 576 879 Weighted average common shares outstanding—diluted 43,738 45,104 44,308 44,984 Earnings per share-basic $ 0.29 $ 0.30 $ 0.90 $ 0.67 Earnings per share-diluted $ 0.28 $ 0.30 $ 0.89 $ 0.65

Stock Repurchase Program

Stock Repurchase Program	9 Months Ended
	Mar. 31, 2019
Stock Repurchase Program [Abstract]
Stock Repurchase Program	3. Stock Repurchase Program On March 4, 2015, the Board of Directors of the Company authorized a fourth stock repurchase plan pursuant to which the Company was authorized to repurchase up to 5% of the outstanding shares, or 2,205,451 shares. During the nine months ended March 31, 2019, a total of 1,888,851 shares had been acquired under the fourth repurchase plan at a weighted average cost of $15.20 per share. With these purchases, the fourth repurchase plan has been completed. Repurchased shares are held as treasury stock and will be available for general corporate purposes.

Equity Incentive Plans

Equity Incentive Plans	9 Months Ended
	Mar. 31, 2019
Equity Incentive Plans [Abstract]
Equity Incentive Plans	4. Equity Incentive Plans The 2007 Equity Incentive Plan (“the 2007 Equity Plan”) was approved by the Company’s stockholders on April 22, 2008, which authorized the issuance of up to 4,172,817 shares of Company common stock pursuant to grants of incentive and non-statutory stock options, stock appreciation rights, and restricted stock awards. The 2011 Equity Incentive Plan (“2011 Equity Plan”) was approved by the Company’s stockholders on July 26, 2011. The 2011 Equity Plan authorized the issuance of up to 5,790,849 shares of the Company’s common stock pursuant to grants of stock options, restricted stock awards and restricted stock units, with no more than 1,654,528 of the shares issued as restricted stock awards or restricted stock units. Employees and outside directors of the Company or Oritani Bank are eligible to receive awards under the Equity Plans. Stock options are granted at an exercise price equal to the market price of our common stock on the grant date, based on quoted market prices. Stock options generally vest over a five-year service period and expire ten years from issuance. The vesting of the options accelerate upon death or disability, retirement or a change in control and expire 90 days after termination of service, excluding disability or retirement. The Company recognizes compensation expense for all option grants over the awards’ respective requisite service periods. Management estimated the fair values of all option grants using the Black-Scholes option-pricing model. Management estimated the expected life of the options using the simplified method. The Treasury yield in effect at the time of the grant provides the risk-free rate for periods within the contractual life of the option. The Company classified share-based compensation for employees and outside directors within “compensation, payroll taxes and fringe benefits” in the consolidated statements of income to correspond with the same line item as the cash compensation paid. Number of Stock Options Weighted Average Grant Date Fair Value Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Outstanding at June 30, 2018 2,599,864 $ 2.64 $ 12.16 3.4 Granted 20,000 0.78 16.15 10.0 Exercised (344,260 ) 2.69 12.13 3.8 Forfeited (20,000 ) 0.89 15.40 9.3 Expired (16,000 ) 2.70 12.60 3.2 Outstanding at March 31, 2019 2,239,604 $ 2.63 $ 12.19 2.7 Exercisable at March 31, 2019 2,152,004 $ 2.70 $ 12.05 2.5 The Company recorded $8,000 of share based compensation expense related to options for both the three months ended March 31, 2019 and 2018, respectively. The Company recorded $28,000 and $30,000 of share based compensation expense related to options for the nine months ended March 31, 2019 and 2018, respectively. Expected future expense related to the non-vested options outstanding at March 31, 2019 is $73,000 over a weighted average period of 3.7 years. Upon exercise of vested options, management expects to draw on treasury stock as the source of the shares. Restricted stock shares vest over a five-year service period on the anniversary date of the grant. Vesting of the restricted stock shares accelerate upon death or disability, retirement or a change in control. The product of the number of shares granted and the grant date market price of the Company’s common stock determines the fair value of restricted shares under the Company’s restricted stock plan. The Company recognizes compensation expense for the fair value of restricted shares on a straight-line basis over the requisite service period. The following is a summary of the status of the Company’s restricted stock shares as of March 31, 2019 and changes therein during the nine months then ended: Number of Shares Awarded Weighted Average Grant Date Fair Value Non-vested at June 30, 2018 14,200 $ 15.78 Granted 10,000 16.15 Vested (5,400 ) 15.99 Non-vested at March 31, 2019 18,800 $ 15.91 The Company recorded $27,000 and $29,000 of share based compensation expense related to the restricted stock shares for the three months ended March 31, 2019 and 2018, respectively. The Company recorded $93,000 and $108,000 of share based compensation expense related to the restricted stock shares for the nine months ended March 31, 2019 and 2018, respectively. Expected future expense related to the non-vested restricted shares at March 31, 2019 is $232,000 over a weighted average period of 3.1 years.

Post-retirement Benefits

Post-retirement Benefits	9 Months Ended
	Mar. 31, 2019
Post-retirement Benefits [Abstract]
Post-retirement Benefits	5. Post-retirement Benefits The Company provides several post-retirement benefit plans to directors and to certain active and retired employees. The Company has a nonqualified Directors’ Retirement Plan ("Retirement Plan"), a nonqualified Benefit Equalization Plan ("BEP Plan"), which provides benefits to employees who are disallowed certain benefits under the Company’s qualified benefit plans, and a Post Retirement Medical Plan ("Medical Plan") for directors and certain eligible employees. Net periodic benefit costs for the three and nine months ended March 31, 2019 and 2018 are presented in the following tables. Retirement Plan BEP Plan Medical Plan Three Months ended March 31, 2019 2018 2019 2018 2019 2018 (In thousands) Service cost $ 31 $ 33 $ — $ — $ 11 $ 15 Interest cost 54 52 13 11 59 52 Amortization of unrecognized: Net loss — — 8 9 — — Total $ 85 $ 85 $ 21 $ 20 $ 70 $ 67 Retirement Plan BEP Plan Medical Plan Nine Months ended March 31, 2019 2018 2019 2018 2019 2018 (In thousands) Service cost $ 92 $ 98 $ — $ — $ 34 $ 44 Interest cost 164 156 39 33 176 158 Amortization of unrecognized: Net loss — — 25 27 — — Total $ 256 $ 254 $ 64 $ 60 $ 210 $ 202 The service cost component of net periodic benefit cost is included in compensation and employee benefits on the Statements of Income. The other components of net periodic benefit cost, including interest cost and amortization of actuarial gain/loss are included in other expenses on the Statements of Income.

Loans, net

Loans, net	9 Months Ended
	Mar. 31, 2019
Loans, net [Abstract]
Loans, net	6. Loans, net Loans, net are summarized as follows: March 31, 2019 June 30, 2018 (In thousands) Residential $ 269,521 $ 267,771 Residential commercial real estate 2,053,654 2,005,315 Grocery/credit retail commercial real estate 498,908 497,708 Other commercial real estate 703,066 796,589 Construction and land loans 8,244 10,960 Total loans 3,533,393 3,578,343 Less: Unearned deferred fees and discounts, net 9,415 6,878 Allowance for loan losses 28,590 30,562 Loans, net $ 3,495,388 $ 3,540,903 The Company’s allowance for loan losses is analyzed quarterly and many factors are considered, including changes in the portfolio, delinquencies, nonaccrual loan levels, and other environmental factors. There have been no material changes to the allowance for loan loss methodology as disclosed in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on August 29, 2018. The activity in the allowance for loan losses for the three and nine months ended March 31, 2019 and 2018 is summarized as follows: Three Months ended March 31, Nine Months ended March 31, (In thousands) 2019 2018 2019 2018 Balance at beginning of period $ 28,639 $ 30,402 $ 30,562 $ 30,272 Reversal of provision for loan losses — — (2,000 ) — Recoveries of loans previously charged off 16 166 93 318 Loans charged off (65 ) (95 ) (65 ) (117 ) Balance at end of period $ 28,590 $ 30,473 $ 28,590 $ 30,473 The following tables provide the three and nine month activity in the allowance for loan losses allocated by loan category at March 31, 2019 and 2018. The allowance for loan losses allocated to each category is not necessarily indicative of future losses in any particular category and does not restrict the use of the allowance to absorb losses in other categories. Three Months ended March 31, 2019 Residential Residential commercial real estate Grocery/credit retail commercial real estate Other commercial real estate Construction and land loans Total (In thousands) Allowance for loan losses: Beginning balance $ 2,002 $ 15,259 $ 3,274 $ 7,780 $ 324 $ 28,639 Charge-offs (65 ) — — — — (65 ) Recoveries 16 — — — — 16 Provisions (reversal) 177 319 65 (552 ) (9 ) — Ending balance $ 2,130 $ 15,578 $ 3,339 $ 7,228 $ 315 $ 28,590 Nine Months ended March 31, 2019 Residential Residential commercial real estate Grocery/credit retail commercial real estate Other commercial real estate Construction and land loans Total (In thousands) Allowance for loan losses: Beginning balance $ 1,990 $ 17,259 $ 3,015 $ 7,828 $ 470 $ 30,562 Charge-offs (65 ) — — — — (65 ) Recoveries 34 — — 59 — 93 Provisions (reversal) 171 (1,681 ) 324 (659 ) (155 ) (2,000 ) Ending balance $ 2,130 $ 15,578 $ 3,339 $ 7,228 $ 315 $ 28,590 Three Months ended March 31, 2018 Residential Residential commercial real estate Grocery/credit retail commercial real estate Other commercial real estate Construction and land loans Total (In thousands) Allowance for loan losses: Beginning balance $ 1,902 $ 16,475 $ 2,900 $ 8,783 $ 342 $ 30,402 Charge-offs (95 ) — — — — (95 ) Recoveries 19 — — 147 — 166 Provisions (reversal) 77 570 57 (760 ) 56 — Ending balance $ 1,903 $ 17,045 $ 2,957 $ 8,170 $ 398 $ 30,473 Nine Months ended March 31, 2018 Residential Residential commercial real estate Grocery/credit retail commercial real estate Other commercial real estate Construction and land loans Total (In thousands) Allowance for loan losses: Beginning balance $ 1,261 $ 15,794 $ 3,000 $ 10,017 $ 200 $ 30,272 Charge-offs (117 ) — — — — (117 ) Recoveries 139 — — 147 32 318 Provisions (reversal) 620 1,251 (43 ) (1,994 ) 166 — Ending balance $ 1,903 $ 17,045 $ 2,957 $ 8,170 $ 398 $ 30,473 The following tables detail the amount of loans receivables that are evaluated individually, and collectively, for impairment, and the related portion of allowance for loan loss that is allocated to each loan portfolio segment at March 31, 2019 and June 30, 2018. At March 31, 2019 Residential Residential commercial real estate Grocery/credit retail commercial real estate Other commercial real estate Construction and land loans Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 2,130 15,578 3,339 7,228 315 28,590 Total $ 2,130 $ 15,578 $ 3,339 $ 7,228 $ 315 $ 28,590 Loans receivable: Individually evaluated for impairment $ 5,640 $ — $ — $ 3,546 $ — $ 9,186 Collectively evaluated for impairment 263,881 2,053,654 498,908 699,520 8,244 3,524,207 Total $ 269,521 $ 2,053,654 $ 498,908 $ 703,066 $ 8,244 $ 3,533,393 At June 30, 2018 Residential Residential commercial real estate Grocery/credit retail commercial real estate Other commercial real estate Construction and land loans Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 1,990 17,259 3,015 7,828 470 30,562 Total $ 1,990 $ 17,259 $ 3,015 $ 7,828 $ 470 $ 30,562 Loans receivable: Individually evaluated for impairment $ 5,022 $ — $ — $ 4,181 $ — $ 9,203 Collectively evaluated for impairment 262,749 2,005,315 497,708 792,408 10,960 3,569,140 Total $ 267,771 $ 2,005,315 $ 497,708 $ 796,589 $ 10,960 $ 3,578,343 The Company continuously monitors the credit quality of its loan portfolio. In addition to internal staff, the Company utilizes the services of a third party loan review firm to evaluate the credit quality ratings of its loan receivables. Credit quality is monitored by reviewing certain credit quality indicators. Assets classified as “Satisfactory” are deemed to possess average to superior credit quality, requiring no more than normal attention. Assets classified as “Pass/Watch” have generally acceptable asset quality yet possess higher risk characteristics/circumstances than satisfactory assets. Such characteristics may include strained liquidity, slow pay, stale financial statements or other circumstances requiring greater attention from bank staff. We classify an asset as “Special Mention” if the asset has a potential weakness that warrants management’s close attention. Such weaknesses, if left uncorrected, may result in the deterioration of the repayment prospects of the asset. An asset is considered “Substandard” if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard assets include those characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. Assets classified as “Doubtful” have all of the weaknesses inherent in those classified substandard, with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Included in the Substandard caption are all loans that were past due 90 days (or more) and all impaired loans. The following tables provide information about the loan credit quality at March 31, 2019 and June 30, 2018: At March 31, 2019 Satisfactory Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Residential $ 244,946 $ 16,652 $ 1,170 $ 6,753 $ — $ 269,521 Residential commercial real estate 2,036,153 15,948 1,553 — — 2,053,654 Grocery/credit retail commercial real estate 496,010 2,898 — — — 498,908 Other commercial real estate 618,699 75,945 4,279 4,143 — 703,066 Construction and land loans 8,244 — — — — 8,244 Total $ 3,404,052 $ 111,443 $ 7,002 $ 10,896 $ — $ 3,533,393 At June 30, 2018 Satisfactory Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Residential $ 242,534 $ 18,731 $ 171 $ 6,335 $ — $ 267,771 Residential commercial real estate 1,981,781 21,952 1,582 — — 2,005,315 Grocery/credit retail commercial real estate 494,723 — 2,985 — — 497,708 Other commercial real estate 688,725 92,430 10,164 5,270 — 796,589 Construction and land loans 10,960 — — — — 10,960 Total $ 3,418,723 $ 133,113 $ 14,902 $ 11,605 $ — $ 3,578,343 The following tables provide information about loans past due at March 31, 2019 and June 30, 2018: At March 31, 2019 30-59 Days Past Due 60-89 Days Past Due 90 days or More Past Due Total Past Due Current Total Loans Nonaccrual (1) (In thousands) Residential $ 1,146 $ 1,736 $ 5,549 $ 8,431 $ 261,090 $ 269,521 $ 6,753 Residential commercial real estate — — — — 2,053,654 2,053,654 — Grocery/credit retail commercial real estate — — — — 498,908 498,908 — Other commercial real estate 533 — 2,330 2,863 700,203 703,066 3,431 Construction and land loans — — — — 8,244 8,244 — Total $ 1,679 $ 1,736 $ 7,879 $ 11,294 $ 3,522,099 $ 3,533,393 $ 10,184 At June 30, 2018 30-59 Days Past Due 60-89 Days Past Due 90 days or More Past Due Total Past Due Current Total Loans Nonaccrual (2) (In thousands) Residential $ 2,696 $ 753 $ 5,213 $ 8,662 $ 259,109 $ 267,771 $ 6,335 Residential commercial real estate 1,582 — — 1,582 2,003,733 2,005,315 — Grocery/credit retail commercial real estate — — — — 497,708 497,708 — Other commercial real estate 1,009 — 136 1,145 795,444 796,589 1,542 Construction and land loans — — — — 10,960 10,960 — Total $ 5,287 $ 753 $ 5,349 $ 11,389 $ 3,566,954 $ 3,578,343 $ 7,877 (1) Included in nonaccrual loans at March 31, 2019 are residential loans totaling $31,000 that were 30-59 days past due; and residential loans totaling $761,000 that were 60-89 days past due; and residential loans totaling $412,000 and other commercial real estate loans totaling $1.1 million that were less than 30 days past due. (2) Included in nonaccrual loans at June 30, 2018 are residential loans totaling $35,000 that were 30-59 days past due; residential loans totaling $582,000 that were 60-89 days past due; and residential loans totaling $504,000 and other commercial real estate loans totaling $1.4 million that were less than 30 days past due. The Company defines an impaired loan as a loan for which it is probable, based on current information, that the Company will not collect all amounts due under the contractual terms of the loan agreement. Loans we individually classify as impaired include multifamily, commercial mortgage and construction loans with balances of $1.0 million or more, unless a condition exists for loans less than $1.0 million that would increase the Bank’s potential loss exposure. At March 31, 2019 and June 30, 2018, impaired loans were primarily collateral-dependent and totaled $9.2 million, with no related allowance for credit losses. The following table provides information about the Company’s impaired loans at March 31, 2019 and June 30, 2018: At March 31, 2019 At June 30, 2018 Recorded Investment Unpaid Principal Balance Allowance Recorded Investment Unpaid Principal Balance Allowance (In thousands) With no related allowance recorded: Residential $ 5,647 $ 5,640 $ — $ 5,021 $ 5,022 $ — Other commercial real estate 3,386 3,546 — 4,018 4,181 — Total $ 9,033 $ 9,186 $ — $ 9,039 $ 9,203 $ — The following tables present the average recorded investment and interest income recognized on impaired loans for the three and nine months ended March 31, 2019 and 2018: Three Months ended March 31, 2019 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Residential $ 5,691 $ 12 $ 4,746 $ 12 Other commercial real estate 3,474 32 8,189 105 Total $ 9,165 $ 44 $ 12,935 $ 117 Cash basis interest income $ 39 $ 108 Nine Months ended March 31, 2019 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Residential $ 5,509 $ 87 $ 4,507 $ 62 Other commercial real estate 3,585 152 7,744 329 Total $ 9,094 $ 239 $ 12,251 $ 391 Cash basis interest income $ 168 $ 365 Troubled debt restructured loans (“TDRs”) are those loans whose terms have been modified because of deterioration in the financial condition of the borrower. The Company has selectively modified certain borrower’s loans to enable the borrower to emerge from delinquency and keep their loans current. The eligibility of a borrower for a TDR modification depends upon the facts and circumstances of each transaction, which may change from period to period, and involve judgment by management regarding the likelihood that the modification will result in the maximum recovery by the Company. Modifications could include extension of the terms of the loan, reduced interest rates, and forgiveness of accrued interest and/or principal. Once an obligation has been restructured because of such credit problems, it continues to be considered restructured until paid in full or, if the obligation yields a market rate (a rate equal to or greater than the rate the Company was willing to accept at the time of the restructuring for a new loan with comparable risk), until the year subsequent to the year in which the restructuring takes place, provided the borrower has performed under the modified terms for a six month period. Management classifies all TDRs as impaired loans. Included in impaired loans at March 31, 2019 and June 30, 2018, are $1.5 million and $1.9 million, respectively of loans which are deemed TDRs. The following table presents additional information regarding the Company’s TDRs as of March 31, 2019 and June 30, 2018: Troubled Debt Restructurings at March 31, 2019 Troubled Debt Restructurings at June 30, 2018 Performing Nonperforming Total Performing Nonperforming Total (In thousands) (In thousands) Residential $ — $ 169 $ 169 $ — $ 174 $ 174 Other commercial real estate 250 1,101 1,351 309 1,407 1,716 Total $ 250 $ 1,270 $ 1,520 $ 309 $ 1,581 $ 1,890 Allowance $ — $ — $ — $ — — $ — The following table presents information about TDRs for the periods presented: Nine Months ended March 31, 2019 2018 Number of Relationships Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Relationships Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (Dollars in thousands) (Dollars in thousands) Other commercial real estate — $ — $ — 1 $ 271 $ 249 Total — $ — $ — 1 $ 271 $ 249 There were no loan relationships modified in a troubled debt restructuring during the three months ended March 31, 2019 and 2018, and during the nine months ended March 31, 2019. The relationship modified during the nine months ended March 31, 2018 was restructured from interest only to a principal and interest amortizing loan through maturity. There were no payment defaults (90 days or more past due) on loans modified as troubled debt restructurings within twelve months of modification during the three and nine months ended March 31, 2019 and 2018.

Securities

Securities	9 Months Ended
	Mar. 31, 2019
Securities [Abstract]
Securities	7. Securities Debt Securities Held to Maturity The following is a comparative summary of debt securities held to maturity at March 31, 2019 and June 30, 2018: At March 31, 2019 Amortized cost Gross unrecognized gains Gross unrecognized losses Fair value (In thousands) U.S. Government and Federal agency obligations Due in less than one year $ 6,750 $ — $ 54 $ 6,696 Mortgage-backed securities: Residential MBS 218,450 1,016 2,305 217,161 Commercial MBS 22,542 58 108 22,492 CMO 72,802 173 1,184 71,791 Corporate Note Due in five to ten years 15,035 92 201 14,926 $ 335,579 $ 1,339 $ 3,852 $ 333,066 At June 30, 2018 Amortized cost Gross unrecognized gains Gross unrecognized losses Fair value (In thousands) U.S. Government and Federal agency obligations Due in less than one year $ 1,750 $ — $ 23 $ 1,727 Due in one to five years 5,000 — 94 4,906 Mortgage-backed securities: Residential MBS 220,057 23 5,965 214,115 Commercial MBS 13,035 — 421 12,614 CMO 85,488 35 2,398 83,125 Corporate Note Due in five to ten years 10,044 — 20 10,024 $ 335,374 $ 58 $ 8,921 $ 326,511 The contractual maturities of mortgage-backed securities held to maturity generally exceed 20 years; however, the effective lives are expected to be significantly shorter due to scheduled principal payments, anticipated prepayments and, in the case of CMOs, cash flow priorities. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. The Company did not sell any debt securities held to maturity during the three and nine months ended March 31, 2019 and 2018. Debt securities with fair values of $7.9 million and $9.1 million at March 31, 2019 and June 30, 2018, respectively, were pledged for advances. There were no debt securities held to maturity pledged for cash flow hedge interest rate swaps at March 31, 2019 and June 30, 2018. Debt securities held to maturity with fair values of $20.2 million were pledged for municipal deposits at March 31, 2019 and none were pledged at June 30, 2018. The Company did not record other-than-temporary impairment charges on debt securities held to maturity during the three and nine months ended March 31, 2019 and 2018. Gross unrecognized losses on debt securities held to maturity and the fair value of the related securities, aggregated by security category and length of time that individual securities have been in a continuous unrecognized loss position at March 31, 2019 and June 30, 2018 were as follows: At March 31, 2019 Less than 12 months Greater than 12 months Total Fair value Gross unrecognized losses Fair value Gross unrecognized losses Fair value Gross unrecognized losses (In thousands) U.S. Government and Federal agency obligations Due in less than one year $ — $ — $ 6,696 $ 54 $ 6,696 $ 54 Mortgage-backed securities: Residential MBS 1,204 3 150,640 2,302 151,844 2,305 Commercial MBS — — 6,660 108 6,660 108 CMO — — 47,941 1,184 47,941 1,184 Corporate Note Due in five to ten years 9,834 201 — — 9,834 201 $ 11,038 $ 204 $ 211,937 $ 3,648 $ 222,975 $ 3,852 At June 30, 2018 Less than 12 months Greater than 12 months Total Fair value Gross unrecognized losses Fair value Gross unrecognized losses Fair value Gross unrecognized losses (In thousands) U.S. Government and Federal agency obligations Due in less than one year $ — $ — $ 1,727 $ 23 $ 1,727 $ 23 Due in one to five years — — 4,906 94 4,906 94 Mortgage-backed securities: Residential MBS 188,281 4,646 24,712 1,319 212,993 5,965 Commercial MBS 8,290 224 4,324 197 12,614 421 CMO 9,106 279 48,211 2,119 57,317 2,398 Corporate Note Due in five to ten years 10,024 20 — — 10,024 20 $ 215,701 $ 5,169 $ 83,880 $ 3,752 $ 299,581 $ 8,921 Management evaluated the securities in the above tables and concluded that none of the securities with losses has impairments that are other-than-temporary. The unrecognized losses on securities were caused by interest rate changes and market conditions. Because the decline in fair value is attributable to changes in interest rates and market conditions and not credit quality, and because the Company has no intent to sell and believes it is not more than likely than not that it will be required to sell these securities until a market price recovery or maturity, these securities are not considered other-than-temporarily impaired. Debt Securities Available for Sale The following is a comparative summary of debt securities available for sale at March 31, 2019 and June 30, 2018: At March 31, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In thousands) Mortgage-backed securities: Residential MBS $ 19 $ 1 $ — $ 20 Commercial MBS 3,959 34 — 3,993 CMO 31,692 — 692 31,000 $ 35,670 $ 35 $ 692 $ 35,013 At June 30, 2018 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In thousands) Mortgage-backed securities: Residential MBS $ 70 $ 1 $ — $ 71 Commercial MBS 4,074 63 — 4,137 CMO 40,106 — 1,188 38,918 $ 44,250 $ 64 $ 1,188 $ 43,126 The contractual maturities of mortgage-backed securities available for sale generally exceed 20 years; however, the effective lives are expected to be shorter due to anticipated prepayments and, in the case of CMOs, cash flow priorities. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. The Company did not sell any debt securities available for sale for the three and nine months ended March 31, 2019. The Company did not sell any debt securities available for sale for the three months ended March 31, 2018. Proceeds from the sale of debt securities available for sale for nine months ended March 31, 2018 were $29.5 million on securities with an amortized cost of $29.8 million, resulting in gross losses of $324,000. Debt securities available for sale with fair values of $13.5 million and $15.5 million at March 31, 2019 and June 30, 2018, respectively, were pledged for advances. There were no debt securities available for sale securities pledged for cash flow hedge interest rate swaps at March 31, 2019 and June 30, 2018, respectively. There were no debt securities available for sale pledged for municipal deposits at March 31, 2019 and June 30, 2018. There were no other-than-temporary impairment charges on debt securities available for sale for the three and nine months ended March 31, 2019 and 2018. Gross unrealized losses on debt securities available for sale and the fair value of the related securities, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2019 and June 30, 2018 were as follows: At March 31, 2019 Less than 12 months Greater than 12 months Total Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses (In thousands) Mortgage-backed securities: CMO $ 908 $ 1 $ 30,092 $ 691 $ 31,000 $ 692 $ 908 $ 1 $ 30,092 $ 691 $ 31,000 $ 692 At June 30, 2018 Less than 12 months Greater than 12 months Total Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses (In thousands) Mortgage-backed securities: CMO $ 20,651 $ 444 $ 18,267 $ 744 $ 38,918 $ 1,188 $ 20,651 $ 444 $ 18,267 $ 744 $ 38,918 $ 1,188 Management evaluated the securities in the above tables and concluded that none of the securities with losses has impairments that are other-than-temporary. The unrealized losses on securities were caused by interest rate changes and market conditions. Because the decline in fair value is attributable to changes in interest rates and market conditions and not credit quality, and because the Company has no intent to sell and believes it is not more than likely than not that it will be required to sell these securities until a market price recovery or maturity, these securities are not considered other-than-temporarily impaired. Equity Securities The Company's portfolio of equity securities had an estimated fair value of $1.4 million and $1.6 million at March 31, 2019 and June 30, 2018, respectively. Equity Securities are reported at estimated fair value on the Company's Consolidated Balance Sheets. The Company adopted FASB Accounting Standard Update ("ASU") 2016-01 on July 1, 2018. The ASU supersedes the guidance to classify equity securities with readily determinable fair value into different categories and requires equity securities to be measured at fair value with changes in the fair value recognized through net income rather than accumulated other comprehensive income (loss). Upon adoption, the Company recorded an after tax cumulative-effect adjustment of $658,000 in the consolidated statement of stockholders' equity, reclassified its equity securities out of available for sale securities to equity securities on the consolidated balance sheets for all periods presented, and recognized unrealized changes in fair value through earnings. For periods prior to the adoption of ASU 2016-01, unrealized changes in fair value of equity securities were included in accumulated other comprehensive income (loss). Unrealized changes in fair value of equity securities recognized through income for the three and nine months ended March 31, 2019 are a net gain of $87,000 and a net loss of $187,000, respectively. There were no sales of equity securities for the three and nine months ended March 31, 2019 and 2018.

Deposits

Deposits	9 Months Ended
	Mar. 31, 2019
Deposits [Abstract]
Deposits	8. Deposits Deposits include checking (non-interest and interest-bearing demand deposits), money market, savings and time deposits. We had brokered deposits totaling $462.4 million and $450.4 million at March 31, 2019 and June 30, 2018, respectively. Total municipal deposits were $489.9 million and $535.7 million at March 31, 2019 and June 30, 2018, respectively. Municipal deposits are secured by a Federal Home Loan Bank of New York municipal deposit letter of credit in the amount of $177.0 million and $217.0 million at March 31, 2019 and June 30, 2018, respectively. Municipal deposits are also secured by debt securities held to maturity with fair values of $20.2 million at March 31, 2019. As of March 31, 2019 and June 30, 2018, the aggregate amount of outstanding time deposits in amounts greater than $250,000 was $227.4 million and $244.7 million, respectively. Deposit balances are summarized as follows: March 31, 2019 June 30, 2018 (In thousands) Checking accounts $ 658,959 $ 751,735 Money market deposit accounts 618,145 763,003 Savings accounts 379,204 188,859 Time deposits 1,242,330 1,211,531 $ 2,898,638 $ 2,915,128

Derivatives and Hedging Activit

Derivatives and Hedging Activities	9 Months Ended
	Mar. 31, 2019
Derivatives and Hedging Activities [Abstract]
Derivatives and Hedging Activities	9. Derivatives and Hedging Activities Oritani is exposed to certain risks regarding its ongoing business operations. Derivative instruments are used to offset a portion of the Company's interest rate risk. Specifically, the Company has utilized interest rate swaps to partially offset the interest rate risk inherent in the Company's balance sheet. Oritani recognizes interest rate swaps as either assets or liabilities at fair value in the statement of financial condition with an offset recorded in Other Comprehensive Income and any ineffectiveness is recorded in earnings. The interest rate swaps have been designed as cash flow hedges. For all cash flow hedges the balance sheet item that has been hedged is brokered deposits. Oritani is exposed to credit-related losses in the event of nonperformance by the counterparties to the agreements. Oritani controls the credit risk through monitoring procedures and does not expect the counterparty to fail their obligations. Oritani only deals with primary dealers and believes that the credit risk inherent in these contracts was not significant during and at period end. Oritani has the right to demand that the counterparty post collateral to cover any market value shortfall of the counterparty regarding the transaction. At March 31, 2019, Oritani had twenty one interest rate swap agreements with a total notional outstanding of $375.0 million all feature exchanges of fixed for variable payments covering various hedging periods maturing between June 2019 and June 2025. The Company is paying fixed rates on these swaps ranging from 0.68% to 1.90%, in exchange for receiving variable payments linked to one month LIBOR The following table presents amounts included in the consolidated balance sheets related to the fair value of derivative financial instruments at March 31, 2019 and June 30, 2018 (dollars in thousands): At March 31, 2019 At June 30, 2018 Balance Sheet Line Item Notional Amount Fair Value Notional Amount Fair Value Cash flow hedge interest rate swaps Gross unrealized gain Other Assets $ 375,000 $ 7,039 $ 405,000 $ 16,789 Gross notional / net fair value $ 375,000 $ 7,039 $ 405,000 $ 16,789 Average rate paid 1.50 % 1.96 % Average rate received 2.33 % 2.06 % Weighted average maturity (years) 3.4 3.9 Gains (losses) included in the consolidated statements of income and in comprehensive income, on a pre-tax basis, related to cash flow hedge interest rate swaps are as follows: Three Months ended March 31, Nine Months ended March 31, 2019 2018 2019 2018 (in thousands) Amount of (loss) gain recognized in other comprehensive income $ (3,180 ) $ 5,622 $ (7,452 ) $ 8,159 Amount of unrealized gain (loss) reclassified from accumulated other comprehensive loss to interest expense 916 109 2,298 (403 ) Net change in unrealized (loss) gain on interest rate swaps, before taxes $ (4,096 ) $ 5,513 $ (9,750 ) $ 8,562 Ineffectiveness recognized during the three and nine months ended March 31, 2019 and 2018 was immaterial. There were no accumulated net after-tax losses related to effective cash flow hedges included in accumulated other comprehensive loss at March 31, 2019 and June 30, 2018, respectively. Amounts reported in accumulated other comprehensive income related to cash flow interest rate swaps are reclassified to interest expense as interest payments are made. There were no securities pledged for the swaps at March 31, 2019 and June 30, 2018.

Income Taxes

Income Taxes	9 Months Ended
	Mar. 31, 2019
Income Taxes [Abstract]
Income Taxes	10. Income Taxes The Company files income tax returns in the United States federal jurisdiction and in New Jersey, and New York city and state jurisdictions. The Company is no longer subject to federal and state income tax examinations by tax authorities for years prior to 2014. Currently, the Company is not under examination by any taxing authority. The Company's federal return for the tax year ended December 31, 2015 was audited during fiscal 2019. The enactment of the Tax Cuts and Jobs Act on December 22, 2017 lowered the federal corporate income tax rate to 21% beginning in 2018 from a maximum rate of 35% in 2017. The benefit of the lower federal tax rate was partially offset by the impact of New Jersey (“NJ”) tax legislation enacted on July 1, 2018 that imposes a temporary surtax of 2.5% for tax years beginning on or after January 1, 2018 through December 31, 2019, and 1.5% for tax years beginning on or after January 1, 2020 through December 31, 2021. The legislation also requires mandatory unitary combined filing for members of an affiliated group for tax years beginning on or after January 1, 2019. The Company reports earnings on a fiscal year basis and the increased income tax implications of the NJ legislation are partially recognized by the Company ratably over the course of the fiscal year ending June 30, 2019. The full impact of the legislation will be recognized in the fiscal year ending June 30, 2020. The Company’s estimated effective tax rate is expected to increase subsequent to the fiscal year ending June 30, 2019. The legislation required a revaluation of our deferred tax assets/liabilities based on the rates at which they are expected to reverse in the future. The revaluation of the Company's deferred tax balances resulted in a one-time non-cash charge of $477,000 which was included in income tax expense for the nine months ended March 31, 2019. Because the Company has a fiscal year end of June 30, the reduced corporate tax rate resulted in the application of a blended federal statutory tax rate of 28% for its fiscal year 2018. While the Act will lower the Company's future tax rate, in accordance with ASC 740 companies are required to re-measure deferred tax balances using the new enacted tax rates to account for the future impact of lower corporate tax rates on these deferred amounts. The Company remeasured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future. The tax expense recorded in December 31, 2017 quarterly period relating to the remeasurement of the Company's deferred tax balances was $10.2 million.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Mar. 31, 2019
Fair Value Measurements [Abstract]
Fair Value Measurements	11. Fair Value Measurements The Company adopted FASB ASC 820, “Fair Value Measurements and Disclosures, Basis of Fair Value Measurement: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability; Level 3: Price or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported with little or no market activity). A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Following are descriptions of the valuation methodologies and key inputs used to measure assets recorded at fair value, as well as a description of the methods and significant assumptions used to estimate fair value disclosures for financial instruments not recorded at fair value in their entirety on a recurring basis. The descriptions include an indication of the level of the fair value hierarchy in which the assets or liabilities are classified. Cash and Cash Equivalents Due to their short-term nature, the carrying amount of these instruments approximates fair value. Securities The Company records securities held to maturity at amortized cost. Equity securities and securities available for sale are measured at fair value on a recurring basis. The majority of the Company’s securities are fixed income instruments that are not quoted on an exchange, but are traded in active markets. The fair values for securities are obtained from an independent nationally recognized third-party pricing service. Our independent pricing service provides us with prices which are primarily categorized as Level 2, as quoted prices in active markets for identical assets are generally not available for the majority of securities in our portfolio. Pricing services may employ modeling techniques in determining pricing. Inputs to these models include market spreads, dealer quotes, prepayment speeds, credit information and the instrument’s terms and conditions, among other things. Management compares the pricing to a second independent pricing source for reasonableness. Equity securities are reported at Level 1 based on quoted market prices for identical securities in active markets. FHLB of New York Stock FHLB of New York Stock is recorded at cost (par value) and evaluated for impairment based on the ultimate recoverability of the par value. There is no active market for this stock and no significant observable market data is available for this instrument. The Company considers the profitability and asset quality of FHLB, dividend payment history and recent redemption experience, when determining the ultimate recoverability of the par value. The Company believes its investment in FHLB stock is ultimately recoverable at par. The carrying amount of FHLB stock approximates fair value, since this is the amount for which it could be redeemed. Loans The Company does not record loans at fair value on a recurring basis. However, periodically, the Company records nonrecurring adjustments to the carrying value of loans based on fair value measurements. The estimated fair value for significant nonperforming loans and impaired loans are valued utilizing independent appraisals of the collateral securing such loans that rely upon quoted market prices for similar assets in active markets. These appraisals include adjustments to comparable assets based on the appraisers’ market knowledge and experience. The appraisals may be adjusted downward by management (0-20% adjustment rate and 0-10% risk premium rate), as necessary, for changes in relevant valuation factors subsequent to the appraisal date and the timing of anticipated cash flows (0-8% discount rate). The Company classifies impaired loans as Level 3. In connection with the adoption of ASU 2016-01 on July 1, 2018, the Company refined the methodology used to estimate the fair value of the loan portfolio using an exit price notion resulting in prior periods no longer being comparable. The exit price notion requires determination of the price at which willing market participants would transact at the measurement date under current market conditions depending on facts and circumstances, such as origination rates, credit risk, transaction costs, liquidity, and other adjustments. The application of an exit price notion requires the use of significant judgment. Estimated fair value for loans is determined using portfolios of loans with similar financial characteristics. Loans are segregated by type such as residential, multifamily, commercial real estate, construction, land and consumer. Each loan category is further segmented into fixed and adjustable rate interest terms. At March 31, 2019, estimated fair value of loans is determined using a discounted cash flow model that employs an exit discount rate that reflects the current market pricing for loans with similar characteristics and remaining maturity, adjusted by underwriting uncertainty, liquidity and credit discounts. The June 30, 2018 estimated fair value of loans was determined using an entrance price methodology based only on the discounted value of contracted cash flows based on prevailing interest rates for loans with similar characteristics and remaining maturity. The Company classifies the estimated fair value of loans held for investment as Level 3. Real Estate Owned Assets acquired through foreclosure or deed in lieu of foreclosure are recorded at fair value less estimated selling costs when acquired, thus establishing a new cost basis. Subsequently, real estate owned is carried at the lower of cost or fair value, less estimated selling costs. Fair value is generally based on independent appraisals. These appraisals include adjustments to comparable assets based on the appraisers’ market knowledge and experience, and are considered Level 3. When an asset is acquired, the excess of the loan balance over fair value, less estimated liquidation costs (5%-20% discount rate), is charged to the allowance for loan losses. If the estimated fair value of the asset declines, a write-down is recorded through expense. The valuation of foreclosed assets is subjective in nature and may be adjusted in the future because of changes in the economic conditions. Deposit Liabilities The estimated fair value of deposits with no stated maturity, such as checking, savings, and money market accounts, is equal to the amount payable on demand at the balance sheet date. The estimated fair value of term deposits is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. The Company classifies the estimated fair value of term deposits as Level 2. Borrowings The book value of overnight borrowings approximates the estimated fair value. The estimated fair value of term borrowings is calculated based on the discounted cash flow of contractual amounts due, using market rates currently available for borrowings of similar amount and remaining maturity. The Company classifies the estimated fair value of term borrowings as Level 2. Derivatives The fair value of our interest rate swaps was estimated using Level 2 inputs. The fair value was determined using third party prices that are based on discounted cash flow analyses using observed market interest rate curves and volatilities. Commitments to Extend Credit and to Purchase or Sell Securities The fair value of commitments to extend credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of commitments to purchase or sell securities is estimated based on bid quotations received from securities dealers. The fair value of off-balance-sheet commitments approximates book value. Assets and Liabilities Recorded at Fair Value on a Recurring Basis The following tables present the recorded amount of assets and liabilities measured at fair value on a recurring basis as of March 31, 2019 and June 30, 2018 by level within the fair value hierarchy. There were no transfers between levels within the fair value hierarchy during the nine months ended March 31, 2019. Fair Value as of March 31, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (In thousands) Assets: Equity Securities $ 1,378 $ 1,378 $ — $ — Mortgage-backed securities available for sale Residential MBS 20 — 20 — Commercial MBS 3,993 — 3,993 — CMO 31,000 — 31,000 — Total debt securities available for sale 35,013 — 35,013 — Interest rate swaps 7,039 — 7,039 — Total assets measured on a recurring basis $ 43,430 $ 1,378 $ 42,052 $ — Fair Value as of June 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (In thousands) Assets: Equity Securities $ 1,565 $ 1,565 $ — $ — Mortgage-backed securities available for sale Residential MBS 71 — 71 — Commercial MBS 4,137 — 4,137 — CMO 38,918 — 38,918 — Total debt securities available for sale 43,126 — 43,126 — Interest rate swaps 16,789 — 16,789 — Total assets measured on a recurring basis $ 61,480 $ 1,565 $ 59,915 $ — Assets Recorded at Fair Value on a Nonrecurring Basis The Company may be required, from time to time, to measure the fair value of certain other financial assets on a nonrecurring basis in accordance with U.S. GAAP. The adjustments to fair value usually result from the application of lower-of-cost-or-fair value accounting or write downs of individual assets. The following tables present the recorded amount of assets measured at fair value on a nonrecurring basis as of March 31, 2019 and June 30, 2018 by level within the fair value hierarchy. Fair Value as of March 31, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (In thousands) Assets: Impaired loans: Other commercial real estate $ 1,033 $ — $ — $ 1,033 Total impaired loans 1,033 — — 1,033 Real estate owned Other commercial real estate 636 — — 636 Total real estate owned 636 — — 636 Total assets measured on a non-recurring basis $ 1,669 $ — $ — $ 1,669 Fair Value as of June 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (In thousands) Assets: Impaired loans: Other commercial real estate $ 1,056 $ — $ — $ 1,056 Total impaired loans 1,056 — — 1,056 Real estate owned Other commercial real estate 1,564 — — 1,564 Total real estate owned 1,564 — — 1,564 Total assets measured on a non-recurring basis $ 2,620 $ — $ — $ 2,620 Estimated Fair Value of Financial Instruments The following tables present the carrying amount, estimated fair value, and placement in the fair value hierarchy of financial instruments not recorded at fair values in their entirety on a recurring basis on the Company’s balance sheet at March 31, 2019 and June 30, 2018. These tables exclude financial instruments for which the carrying amount approximates fair value. Financial instruments for which the carrying amount approximates fair value include cash and cash equivalents, FHLB stock, non-maturity deposits, overnight borrowings, and accrued interest. March 31, 2019 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (In thousands) Financial assets: Debt securities held to maturity $ 335,579 $ 333,066 $ — $ 333,066 $ — Loans, net 3,495,388 3,448,659 — — 3,448,659 Financial liabilities: Time deposits 1,242,330 1,249,862 — 1,249,862 — Term borrowings 493,775 491,500 — 491,500 — June 30, 2018 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (In thousands) Financial assets: Debt securities held to maturity $ 335,374 $ 326,511 $ — $ 326,511 $ — Loans, net 3,540,903 3,470,434 — — 3,470,434 Financial liabilities: Time deposits 1,211,531 1,219,558 — 1,219,558 — Term borrowings 497,372 486,278 — 486,278 — Limitations Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on- and off-balance-sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. Significant assets and liabilities that are not considered financial assets or liabilities include the mortgage banking operation, deferred tax assets, and premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates.

Other Comprehensive Income

Other Comprehensive Income	9 Months Ended
	Mar. 31, 2019
Other Comprehensive Income [Abstract]
Other Comprehensive Income	12. Other Comprehensive Income The components of comprehensive income, both gross and net of tax, are presented for the periods below (in thousands): Three Months ended March 31, Nine Months ended March 31, 2019 2018 2019 2018 Gross: Net income $ 16,063 $ 18,172 $ 52,473 $ 55,293 Other comprehensive income: Change in unrealized holding gain (loss) on debt securities available for sale 225 (423 ) 466 (1,065 ) Reclassification adjustment for security loss included in net income — — — 324 Amortization related to post-retirement obligations 8 9 25 27 Net change in unrealized (loss) gain on interest rate swaps (4,096 ) 5,513 (9,750 ) 8,562 Total other comprehensive (loss) income (3,863 ) 5,099 (9,259 ) 7,848 Total comprehensive income 12,200 23,271 43,214 63,141 Tax applicable to: Net income 3,613 4,747 13,197 25,902 Other comprehensive income: Change in unrealized holding gain (loss) on debt securities available for sale 66 (125 ) 148 (402 ) Reclassification adjustment for security loss included in net income — — — 140 Amortization related to post-retirement obligations 2 4 5 12 Net change in unrealized (loss) gain on interest rate swaps (1,198 ) 1,694 (2,859 ) 3,006 Total other comprehensive (loss) income (1,130 ) 1,573 (2,706 ) 2,756 Total comprehensive income 2,483 6,320 10,491 28,658 Net of tax: Net income 12,450 13,425 39,276 29,391 Other comprehensive income: Change in unrealized holding gain (loss) on debt securities available for sale 159 (298 ) 318 (663 ) Reclassification adjustment for security loss included in net income — — — 184 Amortization related to post-retirement obligations 6 5 20 15 Net change in unrealized (loss) gain on interest rate swaps (2,898 ) 3,819 (6,891 ) 5,556 Total other comprehensive (loss) income (2,733 ) 3,526 (6,553 ) 5,092 Total comprehensive income $ 9,717 $ 16,951 $ 32,723 $ 34,483 The following table presents the changes in the components of accumulated other comprehensive income (loss), net of tax, for the nine months ended March 31, 2019 and 2018 (in thousands): Unrealized Holding (Loss) Gain on Debt Securities Available for Sale Post Retirement Obligations Unrealized Holding Gain (Loss) on Interest Rate Swaps Accumulated Other Comprehensive Income (Loss), Net of Tax Balance at June 30, 2018 $ (86 ) $ (314 ) $ 11,623 $ 11,223 Net change 318 20 (6,891 ) (6,553 ) Reclassification due to the adoption of ASU No. 2016-01 (658 ) — — (658 ) Balance at March 31, 2019 $ (426 ) $ (294 ) $ 4,732 $ 4,012 Balance at June 30, 2017 $ 438 $ (569 ) $ 3,651 $ 3,520 Net change (479 ) 15 5,556 5,092 Reclassification due to the adoption of ASU No. 2018-02 37 (113 ) 1,176 1,100 Balance at March 31, 2018 $ (4 ) $ (667 ) $ 10,383 $ 9,712 The following table sets forth information about the amount reclassified from accumulated other comprehensive (loss) income to the consolidated statement of income and the affected line item in the statement where net income is presented (in thousands). Three Months ended March 31, Nine Months ended March 31, Accumulated Other Comprehensive (Loss) Income Component Affected line item in the Consolidated Statement of Income 2019 2018 2019 2018 Reclassification adjustment for security losses included in net income Net loss on sale of debt securities available for sale $ — $ — $ — $ 324 Amortization related to post-retirement obligations (1) Net loss Other expenses 8 9 25 27 Total before tax 8 9 25 351 Income tax benefit 2 4 5 152 Net of tax 6 5 20 199 (1) These accumulated other comprehensive income (loss) components are included in the computations of net periodic benefit cost. See Note 5. Postretirement Benefits.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Mar. 31, 2019
Revenue Recognition [Abstract]
Revenue Recognition	13. Revenue Recognition Effective July 1, 2018 the Company adopted ASU No. 2014-09, Revenue from Contracts with Customers ("Topic 606") and all subsequent ASUs that modified Topic 606. For further details on ASU No. 2014-09 see Note 14 - "Recent Accounting Pronouncements." The adoption of ASU No. 2014-09 did not have a material impact on the measurement or recognition of revenue as it does not apply to revenue associated with financial instruments, including revenue from loans and investment securities, which is the Company's primary source of revenue. In addition, certain non-interest income streams such as income on bank owned life insurance, gains on securities transactions, and other non-interest income are not in the scope of the guidance. The Company's revenue streams that are within the scope of Topic 606 include service charges on deposit accounts, ATM and card interchange fees, and sales of OREO. However, the revenue recognition of these revenue streams did not change upon adoption of Topic 606 as our customer contracts generally do not have performance obligations and fees are assessed and collected as the transaction occurs. The following table summarizes non-interest income for the periods indicated (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2019 2018 2019 2018 Fees and service charges for customer services: Service charges on deposits $ 127 $ 120 $ 385 $ 370 ATM and card interchange fees 121 123 388 372 Service charges on loans 157 128 271 268 Total fees and service charges $ 405 $ 371 $ 1,044 $ 1,010 Bank owned life insurance 594 603 1,828 1,879 Gains (losses) on sale of OREO — — 855 (2 ) Change in fair value of equity securities 87 — (187 ) — Net losses on sale of debt securities available for sale — — — (324 ) Other income 9 7 18 16 Total non-interest income $ 1,095 $ 981 $ 3,558 $ 2,579 Service charges on deposit accounts include account maintenance fees, overdraft fees, insufficient fund fees, wire fees, and other deposit related fees. ATM and card interchange fees include: · fees generated when an Oritani cardholder uses a non-Oritani ATM · a non-Oritani cardholder uses an Oritani ATM · fees earned whenever the Bank's debit cards are processed through card payment networks such as Visa · fees earned through partneringwith a third-party service firm to provide Oritani branded credit cards The Company's performance obligation for service charges on deposit accounts and ATM and card interchange fees is satisfied as services are rendered and related revenue is recognized immediately or in the month of performance of services. Out-of-scope non-interest income primarily consists of gains and losses on the sale of investments, loans, and derivatives, and service charges on loans such as loan prepayment fees and loan servicing fees.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Mar. 31, 2019
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	14. Recent Accounting Pronouncements In August 2017, the FASB issued ASU 2017-12, "Targeted Improvements to Accounting for Hedging Activities". The purpose of this updated guidance is to better align a company's financial reporting for hedging activities with the economic objectives of those activities. The update is effective for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. The update requires a modified retrospective transition method in which the Company will recognize the cumulative effect of the change on the opening balance of each affected component of equity in the statement of financial position as of the date of adoption. The Company adopted ASU 2017-12 on July 1, 2018. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting". This update provides guidance about changes to terms or conditions of a share based payment award which would require modification accounting. In particular, an entity is required to account for the effects of a modification if the fair value, vesting condition or the equity/liability classification of the modified award is not the same immediately before and after a change to the terms and conditions of the award. This update is effective on a prospective basis for fiscal years beginning after December 15, 2017, with early adoption permitted. The Company adopted this standard effective July 1, 2018. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, "Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-Retirement Benefit Cost." This update will require employers that sponsor defined benefit pension plans to present the service cost component of net periodic benefit cost in the same income statement line item as other employee compensation costs arising from services rendered during the period. Other components of the net periodic benefit cost will be presented separately from the service cost component. This update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The Company adopted this guidance effective July 1, 2018. The other components of net periodic benefit cost are presented as a component of other non-interest expense. The adoption resulted in a reclassification of $349,000 and $1.0 million for the three and nine months ended March 31, 2018, respectively, from compensation and employee benefits to other expenses. In October 2016, the FASB issued ASU 2016-16, "Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory". This update requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This update is effective for fiscal years beginning after December 31, 2017, including interim periods within that year. The Company adopted this standard effective July 1, 2018. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, "Statement of Cashflows (Topic 230): Classification of Certain Cash Receipts and Cash Payments". This update addresses eight specific cash flow issue with the objective of reducing existing diversity in practice. This update is effective for fiscal years beginning after December 31, 2017, including interim periods within that year. The Company adopted this standard effective July 1, 2018. The adoption of this guidance did not have a material impact on the Company's consolidated financial statements, nor was additional disclosure deemed necessary. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments". This update revises the methodology for estimating credit losses on loans receivable, held-to-maturity debt securities, unfunded loan commitments, and certain other financial assets measured at amortized cost. Under ASU 2016-13, the current expected credit losses ("CECL") model is based on lifetime expected losses, rather than incurred losses, and requires the recognition of credit loss expense in the statement of income and a related allowance for credit losses on the balance sheet at the time of origination or purchase of a loan receivable or held-to-maturity debt security. Subsequent changes in this estimate are recorded through credit loss expense and related allowance. The CECL model requires the use of not only relevant historical experience and current conditions, but also reasonable and supportable forecasts of future events and circumstances, thus incorporating a broad range of information in developing credit loss estimates, which could result in significant changes to both the timing and amount of credit loss expense and allowance. Under ASU 2016-13, available-for-sale debt securities are evaluated for impairment if fair value is less than amortized cost. Estimated credit losses are recorded through a credit loss expense and an allowance, rather than a write-down of the investment. Changes in fair value that are not credit-related will continue to be recorded in other comprehensive income. Certain additional disclosures are required, including further disaggregation of credit quality indicators for loans receivable by year of origination. This update is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted for interim and annual reporting periods beginning after December 15, 2018. Entities will apply the standard's provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., modified retrospective approach). The Company is reviewing credit loss estimation methodologies and assumptions to be utilized. We anticipate running parallel models during fiscal 2020 to refine our processes and procedures. The Company is evaluating the impact of this update on its consolidated financial statements, the extent of which is indeterminable at this time as it is contingent upon continued testing and refinement of models, methodologies and judgments. Further, the extent of the impact of adoption of CECL will depend on the asset quality of the portfolio, and economic conditions and forecasts at adoption. In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)". This ASU requires lessees to put most leases on their balance sheets but recognize expenses in the income statement in a manner similar to current accounting treatment. This ASU changes the guidance on sale-leaseback transactions, initial direct costs and lease execution costs, and, for lessors, modifies the classification criteria and the accounting for sales-type and direct financing leases. A modified retrospective transition is required under which comparative balance sheets from the earliest historical period presented will be revised to reflect what the financials would have looked like were the provisions of the update applied consistently in all prior periods. For public business entities, this ASU is effective for annual periods beginning after December 15, 2018, and interim periods therein. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The Company is currently evaluating the impact of the adoption of this guidance on the Company's consolidated financial statements. The Company expects a gross-up of its consolidated balance sheet as a result of recognizing lease liabilities and right of use assets; the extent of such gross-up is under evaluation. As such, no conclusions have yet been reached regarding the potential impact upon adoption on the Company's consolidated financial statements, regulatory capital, and risk weighted assets; however, the Company does not expect the amendment to have a material impact on its results of operations. In January 2016, the FASB issued ASU 2016-01, "Recognition and Measurement of Financial Assets and Financial Liabilities", which is intended to improve the recognition and measurement of financial instruments. The ASU revises an entity's accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosure requirements associated with the fair value of financial instruments. The disclosure of fair value of the loan portfolio will be impacted as the fair value will be calculated using an exit price. The ASU is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The Company adopted this standard effective July 1, 2018. The Company recorded a cumulative effect adjustment for its equity instruments to the balance sheet as of July 1, 2018 in the amount of $658,000, representing the unrealized gain, net of tax at June 30, 2018. Going forward the fair value will be realized in the statement of income. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers." The objective of this amendment is to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS. This update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are in the scope of other standards. In August 2015, the FASB issued ASU 2015-14 to defer for one year the effective date of the new revenue standard. During 2016, the FASB issued further implementation guidance regarding revenue recognition. This additional guidance included clarification on certain principal versus agent considerations within the implementation of the guidance as well as clarification related to identifying performance obligations and licensing, assessing collectibility, presenting sales tax, measuring noncash consideration, and certain transaction matters. The requirements are effective for annual periods and interim periods within fiscal years beginning after December 15, 2017. The Company's primary revenue source is net interest income on financial instruments and, to a lesser extent, non-interest income. The guidance does not apply to revenue associated with loans (ASC310 Receivables) securities (ASC320 Debt and Equity Securities), derivatives (ASC 815 Derivatives and Hedging), leases (ASC 840/842), and bank owned life insurance ("BOLI") (ASC 325 Investments in insurance contracts), which are accounted for under U.S. GAAP. The Company adopted this standard effective July 1, 2018. The adoption of this guidance did not have a significant impact on the Company's consolidated financial statements, but resulted in additional footnote disclosures, including a disaggregation of certain categories of revenue (see Note 13 - "Revenue Recognition").

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Mar. 31, 2019
Basis of Presentation [Abstract]
Basis of Presentation	The consolidated financial statements are composed of the accounts of Oritani Financial Corp., its wholly owned subsidiary, Oritani Bank (the “Bank”) and the wholly owned subsidiaries of Oritani Bank; Oritani Finance Company, Ormon LLC (“Ormon”), and Oritani Investment Corp., as well as its wholly owned subsidiary, Oritani Asset Corporation (a real estate investment trust), (collectively, the "Company"). Intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all of the adjustments (consisting of normal and recurring adjustments) necessary for the fair presentation of the consolidated financial condition and the consolidated results of operations for the unaudited periods presented have been included. The results of operations and other data presented for the nine month period ended March 31, 2019 are not necessarily indicative of the results of operations that may be expected for the fiscal year ending June 30, 2019. Certain information and note disclosures usually included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for the preparation of the Form 10-Q. The consolidated financial statements presented should be read in conjunction with the Company’s audited consolidated financial statements and notes to consolidated financial statements included in the Company’s June 30, 2018 Annual Report on Form 10-K, filed with the SEC on August 29, 2018. The consolidated financial statements have been prepared in conformity with GAAP. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities presented in the Consolidated Balance Sheets at March 31, 2019 and June 30, 2018 and in the Consolidated Statements of Income for the Three and Nine Months Ended March 31, 2019 and 2018. Actual results could differ significantly from those estimates. A material estimate that is particularly susceptible to significant changes relates to the determination of the allowance for loan losses. The allowance for loan losses represents management’s best estimate of losses known and incurred in the portfolio that are both probable and reasonable to estimate. While management uses the most current information available to estimate losses on loans, actual losses are dependent on future events and, as such, increases in the allowance for loan losses may be necessary. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize additions to the allowance based on their judgments about information available to them at the time of their examination.

Fair Value Measurements (Polici

Fair Value Measurements (Policies)	9 Months Ended
	Mar. 31, 2019
Fair Value Measurements [Abstract]
Fair Value Measurements and Disclosures	The Company adopted FASB ASC 820, “Fair Value Measurements and Disclosures, Basis of Fair Value Measurement: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability; Level 3: Price or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e. supported with little or no market activity). A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. Following are descriptions of the valuation methodologies and key inputs used to measure assets recorded at fair value, as well as a description of the methods and significant assumptions used to estimate fair value disclosures for financial instruments not recorded at fair value in their entirety on a recurring basis. The descriptions include an indication of the level of the fair value hierarchy in which the assets or liabilities are classified. Cash and Cash Equivalents Due to their short-term nature, the carrying amount of these instruments approximates fair value. Securities The Company records securities held to maturity at amortized cost. Equity securities and securities available for sale are measured at fair value on a recurring basis. The majority of the Company’s securities are fixed income instruments that are not quoted on an exchange, but are traded in active markets. The fair values for securities are obtained from an independent nationally recognized third-party pricing service. Our independent pricing service provides us with prices which are primarily categorized as Level 2, as quoted prices in active markets for identical assets are generally not available for the majority of securities in our portfolio. Pricing services may employ modeling techniques in determining pricing. Inputs to these models include market spreads, dealer quotes, prepayment speeds, credit information and the instrument’s terms and conditions, among other things. Management compares the pricing to a second independent pricing source for reasonableness. Equity securities are reported at Level 1 based on quoted market prices for identical securities in active markets. FHLB of New York Stock FHLB of New York Stock is recorded at cost (par value) and evaluated for impairment based on the ultimate recoverability of the par value. There is no active market for this stock and no significant observable market data is available for this instrument. The Company considers the profitability and asset quality of FHLB, dividend payment history and recent redemption experience, when determining the ultimate recoverability of the par value. The Company believes its investment in FHLB stock is ultimately recoverable at par. The carrying amount of FHLB stock approximates fair value, since this is the amount for which it could be redeemed. Loans The Company does not record loans at fair value on a recurring basis. However, periodically, the Company records nonrecurring adjustments to the carrying value of loans based on fair value measurements. The estimated fair value for significant nonperforming loans and impaired loans are valued utilizing independent appraisals of the collateral securing such loans that rely upon quoted market prices for similar assets in active markets. These appraisals include adjustments to comparable assets based on the appraisers’ market knowledge and experience. The appraisals may be adjusted downward by management (0-20% adjustment rate and 0-10% risk premium rate), as necessary, for changes in relevant valuation factors subsequent to the appraisal date and the timing of anticipated cash flows (0-8% discount rate). The Company classifies impaired loans as Level 3. In connection with the adoption of ASU 2016-01 on July 1, 2018, the Company refined the methodology used to estimate the fair value of the loan portfolio using an exit price notion resulting in prior periods no longer being comparable. The exit price notion requires determination of the price at which willing market participants would transact at the measurement date under current market conditions depending on facts and circumstances, such as origination rates, credit risk, transaction costs, liquidity, and other adjustments. The application of an exit price notion requires the use of significant judgment. Estimated fair value for loans is determined using portfolios of loans with similar financial characteristics. Loans are segregated by type such as residential, multifamily, commercial real estate, construction, land and consumer. Each loan category is further segmented into fixed and adjustable rate interest terms. At March 31, 2019, estimated fair value of loans is determined using a discounted cash flow model that employs an exit discount rate that reflects the current market pricing for loans with similar characteristics and remaining maturity, adjusted by underwriting uncertainty, liquidity and credit discounts. The June 30, 2018 estimated fair value of loans was determined using an entrance price methodology based only on the discounted value of contracted cash flows based on prevailing interest rates for loans with similar characteristics and remaining maturity. The Company classifies the estimated fair value of loans held for investment as Level 3. Real Estate Owned Assets acquired through foreclosure or deed in lieu of foreclosure are recorded at fair value less estimated selling costs when acquired, thus establishing a new cost basis. Subsequently, real estate owned is carried at the lower of cost or fair value, less estimated selling costs. Fair value is generally based on independent appraisals. These appraisals include adjustments to comparable assets based on the appraisers’ market knowledge and experience, and are considered Level 3. When an asset is acquired, the excess of the loan balance over fair value, less estimated liquidation costs (5%-20% discount rate), is charged to the allowance for loan losses. If the estimated fair value of the asset declines, a write-down is recorded through expense. The valuation of foreclosed assets is subjective in nature and may be adjusted in the future because of changes in the economic conditions. Deposit Liabilities The estimated fair value of deposits with no stated maturity, such as checking, savings, and money market accounts, is equal to the amount payable on demand at the balance sheet date. The estimated fair value of term deposits is based on the discounted value of contractual cash flows. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities. The Company classifies the estimated fair value of term deposits as Level 2. Borrowings The book value of overnight borrowings approximates the estimated fair value. The estimated fair value of term borrowings is calculated based on the discounted cash flow of contractual amounts due, using market rates currently available for borrowings of similar amount and remaining maturity. The Company classifies the estimated fair value of term borrowings as Level 2. Derivatives The fair value of our interest rate swaps was estimated using Level 2 inputs. The fair value was determined using third party prices that are based on discounted cash flow analyses using observed market interest rate curves and volatilities. Commitments to Extend Credit and to Purchase or Sell Securities The fair value of commitments to extend credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of commitments to purchase or sell securities is estimated based on bid quotations received from securities dealers. The fair value of off-balance-sheet commitments approximates book value.
Assets Recorded at Fair Value on a Nonrecurring Basis	The Company may be required, from time to time, to measure the fair value of certain other financial assets on a nonrecurring basis in accordance with U.S. GAAP. The adjustments to fair value usually result from the application of lower-of-cost-or-fair value accounting or write downs of individual assets.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Mar. 31, 2019
Recent Accounting Pronouncements [Abstract]
Recent Accounting Pronouncements	In August 2017, the FASB issued ASU 2017-12, "Targeted Improvements to Accounting for Hedging Activities". The purpose of this updated guidance is to better align a company's financial reporting for hedging activities with the economic objectives of those activities. The update is effective for fiscal years beginning after December 15, 2018, with early adoption, including adoption in an interim period, permitted. The update requires a modified retrospective transition method in which the Company will recognize the cumulative effect of the change on the opening balance of each affected component of equity in the statement of financial position as of the date of adoption. The Company adopted ASU 2017-12 on July 1, 2018. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting". This update provides guidance about changes to terms or conditions of a share based payment award which would require modification accounting. In particular, an entity is required to account for the effects of a modification if the fair value, vesting condition or the equity/liability classification of the modified award is not the same immediately before and after a change to the terms and conditions of the award. This update is effective on a prospective basis for fiscal years beginning after December 15, 2017, with early adoption permitted. The Company adopted this standard effective July 1, 2018. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, "Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-Retirement Benefit Cost." This update will require employers that sponsor defined benefit pension plans to present the service cost component of net periodic benefit cost in the same income statement line item as other employee compensation costs arising from services rendered during the period. Other components of the net periodic benefit cost will be presented separately from the service cost component. This update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The Company adopted this guidance effective July 1, 2018. The other components of net periodic benefit cost are presented as a component of other non-interest expense. The adoption resulted in a reclassification of $349,000 and $1.0 million for the three and nine months ended March 31, 2018, respectively, from compensation and employee benefits to other expenses. In October 2016, the FASB issued ASU 2016-16, "Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory". This update requires that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This update is effective for fiscal years beginning after December 31, 2017, including interim periods within that year. The Company adopted this standard effective July 1, 2018. The adoption of this ASU did not have a material impact on the Company's consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, "Statement of Cashflows (Topic 230): Classification of Certain Cash Receipts and Cash Payments". This update addresses eight specific cash flow issue with the objective of reducing existing diversity in practice. This update is effective for fiscal years beginning after December 31, 2017, including interim periods within that year. The Company adopted this standard effective July 1, 2018. The adoption of this guidance did not have a material impact on the Company's consolidated financial statements, nor was additional disclosure deemed necessary. In June 2016, the FASB issued ASU 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments". This update revises the methodology for estimating credit losses on loans receivable, held-to-maturity debt securities, unfunded loan commitments, and certain other financial assets measured at amortized cost. Under ASU 2016-13, the current expected credit losses ("CECL") model is based on lifetime expected losses, rather than incurred losses, and requires the recognition of credit loss expense in the statement of income and a related allowance for credit losses on the balance sheet at the time of origination or purchase of a loan receivable or held-to-maturity debt security. Subsequent changes in this estimate are recorded through credit loss expense and related allowance. The CECL model requires the use of not only relevant historical experience and current conditions, but also reasonable and supportable forecasts of future events and circumstances, thus incorporating a broad range of information in developing credit loss estimates, which could result in significant changes to both the timing and amount of credit loss expense and allowance. Under ASU 2016-13, available-for-sale debt securities are evaluated for impairment if fair value is less than amortized cost. Estimated credit losses are recorded through a credit loss expense and an allowance, rather than a write-down of the investment. Changes in fair value that are not credit-related will continue to be recorded in other comprehensive income. Certain additional disclosures are required, including further disaggregation of credit quality indicators for loans receivable by year of origination. This update is effective for interim and annual reporting periods beginning after December 15, 2019; early adoption is permitted for interim and annual reporting periods beginning after December 15, 2018. Entities will apply the standard's provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e., modified retrospective approach). The Company is reviewing credit loss estimation methodologies and assumptions to be utilized. We anticipate running parallel models during fiscal 2020 to refine our processes and procedures. The Company is evaluating the impact of this update on its consolidated financial statements, the extent of which is indeterminable at this time as it is contingent upon continued testing and refinement of models, methodologies and judgments. Further, the extent of the impact of adoption of CECL will depend on the asset quality of the portfolio, and economic conditions and forecasts at adoption. In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)". This ASU requires lessees to put most leases on their balance sheets but recognize expenses in the income statement in a manner similar to current accounting treatment. This ASU changes the guidance on sale-leaseback transactions, initial direct costs and lease execution costs, and, for lessors, modifies the classification criteria and the accounting for sales-type and direct financing leases. A modified retrospective transition is required under which comparative balance sheets from the earliest historical period presented will be revised to reflect what the financials would have looked like were the provisions of the update applied consistently in all prior periods. For public business entities, this ASU is effective for annual periods beginning after December 15, 2018, and interim periods therein. Entities are required to use a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. The Company is currently evaluating the impact of the adoption of this guidance on the Company's consolidated financial statements. The Company expects a gross-up of its consolidated balance sheet as a result of recognizing lease liabilities and right of use assets; the extent of such gross-up is under evaluation. As such, no conclusions have yet been reached regarding the potential impact upon adoption on the Company's consolidated financial statements, regulatory capital, and risk weighted assets; however, the Company does not expect the amendment to have a material impact on its results of operations. In January 2016, the FASB issued ASU 2016-01, "Recognition and Measurement of Financial Assets and Financial Liabilities", which is intended to improve the recognition and measurement of financial instruments. The ASU revises an entity's accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. It also amends certain disclosure requirements associated with the fair value of financial instruments. The disclosure of fair value of the loan portfolio will be impacted as the fair value will be calculated using an exit price. The ASU is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The Company adopted this standard effective July 1, 2018. The Company recorded a cumulative effect adjustment for its equity instruments to the balance sheet as of July 1, 2018 in the amount of $658,000, representing the unrealized gain, net of tax at June 30, 2018. Going forward the fair value will be realized in the statement of income. In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers." The objective of this amendment is to clarify the principles for recognizing revenue and to develop a common revenue standard for U.S. GAAP and IFRS. This update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are in the scope of other standards. In August 2015, the FASB issued ASU 2015-14 to defer for one year the effective date of the new revenue standard. During 2016, the FASB issued further implementation guidance regarding revenue recognition. This additional guidance included clarification on certain principal versus agent considerations within the implementation of the guidance as well as clarification related to identifying performance obligations and licensing, assessing collectibility, presenting sales tax, measuring noncash consideration, and certain transaction matters. The requirements are effective for annual periods and interim periods within fiscal years beginning after December 15, 2017. The Company's primary revenue source is net interest income on financial instruments and, to a lesser extent, non-interest income. The guidance does not apply to revenue associated with loans (ASC310 Receivables) securities (ASC320 Debt and Equity Securities), derivatives (ASC 815 Derivatives and Hedging), leases (ASC 840/842), and bank owned life insurance ("BOLI") (ASC 325 Investments in insurance contracts), which are accounted for under U.S. GAAP. The Company adopted this standard effective July 1, 2018. The adoption of this guidance did not have a significant impact on the Company's consolidated financial statements, but resulted in additional footnote disclosures, including a disaggregation of certain categories of revenue (see Note 13 - "Revenue Recognition").

Earnings Per Share ("EPS") (Tab

Earnings Per Share ("EPS") (Tables)	9 Months Ended
	Mar. 31, 2019
Earnings Per Share ("EPS") [Abstract]
Earnings Per Share Calculations and Reconciliation of Basic to Diluted Earnings per Share	The following is a summary of the Company’s earnings per share calculations and reconciliation of basic to diluted earnings per share. Three Months ended March 31, Nine Months ended March 31, 2019 2018 2019 2018 (In thousands, except per share data) Net income $ 12,450 $ 13,425 $ 39,276 $ 29,391 Weighted average common shares outstanding—basic 43,078 44,319 43,732 44,105 Effect of dilutive stock options outstanding 660 785 576 879 Weighted average common shares outstanding—diluted 43,738 45,104 44,308 44,984 Earnings per share-basic $ 0.29 $ 0.30 $ 0.90 $ 0.67 Earnings per share-diluted $ 0.28 $ 0.30 $ 0.89 $ 0.65

Equity Incentive Plans (Tables)

Equity Incentive Plans (Tables)	9 Months Ended
	Mar. 31, 2019
Equity Incentive Plans [Abstract]
Assumptions Used in Estimating Fair Value of Options Issued	The fair value of options granted during the nine months ended March 31, 2019 was estimated using the Black-Scholes options-pricing model with the assumptions in the following table. Nine Months ended March 31, 2019 Option shares granted 20,000 Expected dividend yield 7.47 % Expected volatility 17.68 % Risk-free interest rate 2.82 % Expected option life (in years) 6.5 There were no options granted during the nine months ended March 31, 2018.
Stock Option Activity and Related Information for its Options Plan	Number of Stock Options Weighted Average Grant Date Fair Value Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Outstanding at June 30, 2018 2,599,864 $ 2.64 $ 12.16 3.4 Granted 20,000 0.78 16.15 10.0 Exercised (344,260 ) 2.69 12.13 3.8 Forfeited (20,000 ) 0.89 15.40 9.3 Expired (16,000 ) 2.70 12.60 3.2 Outstanding at March 31, 2019 2,239,604 $ 2.63 $ 12.19 2.7 Exercisable at March 31, 2019 2,152,004 $ 2.70 $ 12.05 2.5
Status of Restricted Stock Shares	The following is a summary of the status of the Company’s restricted stock shares as of March 31, 2019 and changes therein during the nine months then ended: Number of Shares Awarded Weighted Average Grant Date Fair Value Non-vested at June 30, 2018 14,200 $ 15.78 Granted 10,000 16.15 Vested (5,400 ) 15.99 Non-vested at March 31, 2019 18,800 $ 15.91

Post-retirement Benefits (Table

Post-retirement Benefits (Tables)	9 Months Ended
	Mar. 31, 2019
Post-retirement Benefits [Abstract]
Net Periodic Benefit Costs	Net periodic benefit costs for the three and nine months ended March 31, 2019 and 2018 are presented in the following tables. Retirement Plan BEP Plan Medical Plan Three Months ended March 31, 2019 2018 2019 2018 2019 2018 (In thousands) Service cost $ 31 $ 33 $ — $ — $ 11 $ 15 Interest cost 54 52 13 11 59 52 Amortization of unrecognized: Net loss — — 8 9 — — Total $ 85 $ 85 $ 21 $ 20 $ 70 $ 67 Retirement Plan BEP Plan Medical Plan Nine Months ended March 31, 2019 2018 2019 2018 2019 2018 (In thousands) Service cost $ 92 $ 98 $ — $ — $ 34 $ 44 Interest cost 164 156 39 33 176 158 Amortization of unrecognized: Net loss — — 25 27 — — Total $ 256 $ 254 $ 64 $ 60 $ 210 $ 202 The service cost component of net periodic benefit cost is included in compensation and employee benefits on the Statements of Income. The other components of net periodic benefit cost, including interest cost and amortization of actuarial gain/loss are included in other expenses on the Statements of Income.

Loans, net (Tables)

Loans, net (Tables)	9 Months Ended
	Mar. 31, 2019
Loans, net [Abstract]
Comparative Summary of Loans	Loans, net are summarized as follows: March 31, 2019 June 30, 2018 (In thousands) Residential $ 269,521 $ 267,771 Residential commercial real estate 2,053,654 2,005,315 Grocery/credit retail commercial real estate 498,908 497,708 Other commercial real estate 703,066 796,589 Construction and land loans 8,244 10,960 Total loans 3,533,393 3,578,343 Less: Unearned deferred fees and discounts, net 9,415 6,878 Allowance for loan losses 28,590 30,562 Loans, net $ 3,495,388 $ 3,540,903
Activity in the Allowance for Loan Losses	The activity in the allowance for loan losses for the three and nine months ended March 31, 2019 and 2018 is summarized as follows: Three Months ended March 31, Nine Months ended March 31, (In thousands) 2019 2018 2019 2018 Balance at beginning of period $ 28,639 $ 30,402 $ 30,562 $ 30,272 Reversal of provision for loan losses — — (2,000 ) — Recoveries of loans previously charged off 16 166 93 318 Loans charged off (65 ) (95 ) (65 ) (117 ) Balance at end of period $ 28,590 $ 30,473 $ 28,590 $ 30,473
Allowance for Loan Losses Allocated by Loan Category	The following tables provide the three and nine month activity in the allowance for loan losses allocated by loan category at March 31, 2019 and 2018. The allowance for loan losses allocated to each category is not necessarily indicative of future losses in any particular category and does not restrict the use of the allowance to absorb losses in other categories. Three Months ended March 31, 2019 Residential Residential commercial real estate Grocery/credit retail commercial real estate Other commercial real estate Construction and land loans Total (In thousands) Allowance for loan losses: Beginning balance $ 2,002 $ 15,259 $ 3,274 $ 7,780 $ 324 $ 28,639 Charge-offs (65 ) — — — — (65 ) Recoveries 16 — — — — 16 Provisions (reversal) 177 319 65 (552 ) (9 ) — Ending balance $ 2,130 $ 15,578 $ 3,339 $ 7,228 $ 315 $ 28,590 Nine Months ended March 31, 2019 Residential Residential commercial real estate Grocery/credit retail commercial real estate Other commercial real estate Construction and land loans Total (In thousands) Allowance for loan losses: Beginning balance $ 1,990 $ 17,259 $ 3,015 $ 7,828 $ 470 $ 30,562 Charge-offs (65 ) — — — — (65 ) Recoveries 34 — — 59 — 93 Provisions (reversal) 171 (1,681 ) 324 (659 ) (155 ) (2,000 ) Ending balance $ 2,130 $ 15,578 $ 3,339 $ 7,228 $ 315 $ 28,590 Three Months ended March 31, 2018 Residential Residential commercial real estate Grocery/credit retail commercial real estate Other commercial real estate Construction and land loans Total (In thousands) Allowance for loan losses: Beginning balance $ 1,902 $ 16,475 $ 2,900 $ 8,783 $ 342 $ 30,402 Charge-offs (95 ) — — — — (95 ) Recoveries 19 — — 147 — 166 Provisions (reversal) 77 570 57 (760 ) 56 — Ending balance $ 1,903 $ 17,045 $ 2,957 $ 8,170 $ 398 $ 30,473 Nine Months ended March 31, 2018 Residential Residential commercial real estate Grocery/credit retail commercial real estate Other commercial real estate Construction and land loans Total (In thousands) Allowance for loan losses: Beginning balance $ 1,261 $ 15,794 $ 3,000 $ 10,017 $ 200 $ 30,272 Charge-offs (117 ) — — — — (117 ) Recoveries 139 — — 147 32 318 Provisions (reversal) 620 1,251 (43 ) (1,994 ) 166 — Ending balance $ 1,903 $ 17,045 $ 2,957 $ 8,170 $ 398 $ 30,473
Loans Individually and Collectively Evaluated for Impairment and Related Allowance for Loan Loss by Class of Loans	The following tables detail the amount of loans receivables that are evaluated individually, and collectively, for impairment, and the related portion of allowance for loan loss that is allocated to each loan portfolio segment at March 31, 2019 and June 30, 2018. At March 31, 2019 Residential Residential commercial real estate Grocery/credit retail commercial real estate Other commercial real estate Construction and land loans Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 2,130 15,578 3,339 7,228 315 28,590 Total $ 2,130 $ 15,578 $ 3,339 $ 7,228 $ 315 $ 28,590 Loans receivable: Individually evaluated for impairment $ 5,640 $ — $ — $ 3,546 $ — $ 9,186 Collectively evaluated for impairment 263,881 2,053,654 498,908 699,520 8,244 3,524,207 Total $ 269,521 $ 2,053,654 $ 498,908 $ 703,066 $ 8,244 $ 3,533,393 At June 30, 2018 Residential Residential commercial real estate Grocery/credit retail commercial real estate Other commercial real estate Construction and land loans Total (In thousands) Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — Collectively evaluated for impairment 1,990 17,259 3,015 7,828 470 30,562 Total $ 1,990 $ 17,259 $ 3,015 $ 7,828 $ 470 $ 30,562 Loans receivable: Individually evaluated for impairment $ 5,022 $ — $ — $ 4,181 $ — $ 9,203 Collectively evaluated for impairment 262,749 2,005,315 497,708 792,408 10,960 3,569,140 Total $ 267,771 $ 2,005,315 $ 497,708 $ 796,589 $ 10,960 $ 3,578,343
Information about Loan Credit Quality	The following tables provide information about the loan credit quality at March 31, 2019 and June 30, 2018: At March 31, 2019 Satisfactory Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Residential $ 244,946 $ 16,652 $ 1,170 $ 6,753 $ — $ 269,521 Residential commercial real estate 2,036,153 15,948 1,553 — — 2,053,654 Grocery/credit retail commercial real estate 496,010 2,898 — — — 498,908 Other commercial real estate 618,699 75,945 4,279 4,143 — 703,066 Construction and land loans 8,244 — — — — 8,244 Total $ 3,404,052 $ 111,443 $ 7,002 $ 10,896 $ — $ 3,533,393 At June 30, 2018 Satisfactory Pass/Watch Special Mention Substandard Doubtful Total (In thousands) Residential $ 242,534 $ 18,731 $ 171 $ 6,335 $ — $ 267,771 Residential commercial real estate 1,981,781 21,952 1,582 — — 2,005,315 Grocery/credit retail commercial real estate 494,723 — 2,985 — — 497,708 Other commercial real estate 688,725 92,430 10,164 5,270 — 796,589 Construction and land loans 10,960 — — — — 10,960 Total $ 3,418,723 $ 133,113 $ 14,902 $ 11,605 $ — $ 3,578,343
Delinquency and Accrual Status of Loan Portfolio	The following tables provide information about loans past due at March 31, 2019 and June 30, 2018: At March 31, 2019 30-59 Days Past Due 60-89 Days Past Due 90 days or More Past Due Total Past Due Current Total Loans Nonaccrual (1) (In thousands) Residential $ 1,146 $ 1,736 $ 5,549 $ 8,431 $ 261,090 $ 269,521 $ 6,753 Residential commercial real estate — — — — 2,053,654 2,053,654 — Grocery/credit retail commercial real estate — — — — 498,908 498,908 — Other commercial real estate 533 — 2,330 2,863 700,203 703,066 3,431 Construction and land loans — — — — 8,244 8,244 — Total $ 1,679 $ 1,736 $ 7,879 $ 11,294 $ 3,522,099 $ 3,533,393 $ 10,184 At June 30, 2018 30-59 Days Past Due 60-89 Days Past Due 90 days or More Past Due Total Past Due Current Total Loans Nonaccrual (2) (In thousands) Residential $ 2,696 $ 753 $ 5,213 $ 8,662 $ 259,109 $ 267,771 $ 6,335 Residential commercial real estate 1,582 — — 1,582 2,003,733 2,005,315 — Grocery/credit retail commercial real estate — — — — 497,708 497,708 — Other commercial real estate 1,009 — 136 1,145 795,444 796,589 1,542 Construction and land loans — — — — 10,960 10,960 — Total $ 5,287 $ 753 $ 5,349 $ 11,389 $ 3,566,954 $ 3,578,343 $ 7,877 (1) Included in nonaccrual loans at March 31, 2019 are residential loans totaling $31,000 that were 30-59 days past due; and residential loans totaling $761,000 that were 60-89 days past due; and residential loans totaling $412,000 and other commercial real estate loans totaling $1.1 million that were less than 30 days past due. (2) Included in nonaccrual loans at June 30, 2018 are residential loans totaling $35,000 that were 30-59 days past due; residential loans totaling $582,000 that were 60-89 days past due; and residential loans totaling $504,000 and other commercial real estate loans totaling $1.4 million that were less than 30 days past due.
Information Regarding Impaired Loans	The following table provides information about the Company’s impaired loans at March 31, 2019 and June 30, 2018: At March 31, 2019 At June 30, 2018 Recorded Investment Unpaid Principal Balance Allowance Recorded Investment Unpaid Principal Balance Allowance (In thousands) With no related allowance recorded: Residential $ 5,647 $ 5,640 $ — $ 5,021 $ 5,022 $ — Other commercial real estate 3,386 3,546 — 4,018 4,181 — Total $ 9,033 $ 9,186 $ — $ 9,039 $ 9,203 $ — The following tables present the average recorded investment and interest income recognized on impaired loans for the three and nine months ended March 31, 2019 and 2018: Three Months ended March 31, 2019 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Residential $ 5,691 $ 12 $ 4,746 $ 12 Other commercial real estate 3,474 32 8,189 105 Total $ 9,165 $ 44 $ 12,935 $ 117 Cash basis interest income $ 39 $ 108 Nine Months ended March 31, 2019 2018 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) With no related allowance recorded: Residential $ 5,509 $ 87 $ 4,507 $ 62 Other commercial real estate 3,585 152 7,744 329 Total $ 9,094 $ 239 $ 12,251 $ 391 Cash basis interest income $ 168 $ 365
Troubled Debt Restructured (TDR) Loans	The following table presents additional information regarding the Company’s TDRs as of March 31, 2019 and June 30, 2018: Troubled Debt Restructurings at March 31, 2019 Troubled Debt Restructurings at June 30, 2018 Performing Nonperforming Total Performing Nonperforming Total (In thousands) (In thousands) Residential $ — $ 169 $ 169 $ — $ 174 $ 174 Other commercial real estate 250 1,101 1,351 309 1,407 1,716 Total $ 250 $ 1,270 $ 1,520 $ 309 $ 1,581 $ 1,890 Allowance $ — $ — $ — $ — — $ —
Troubled Debt Restructuring on Financing Receivables Modifications	The following table presents information about TDRs for the periods presented: Nine Months ended March 31, 2019 2018 Number of Relationships Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Relationships Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment (Dollars in thousands) (Dollars in thousands) Other commercial real estate — $ — $ — 1 $ 271 $ 249 Total — $ — $ — 1 $ 271 $ 249

Securities (Tables)

Securities (Tables)	9 Months Ended
	Mar. 31, 2019
Securities [Abstract]
Comparative Summary of Debt Securities Held to Maturity	The following is a comparative summary of debt securities held to maturity at March 31, 2019 and June 30, 2018: At March 31, 2019 Amortized cost Gross unrecognized gains Gross unrecognized losses Fair value (In thousands) U.S. Government and Federal agency obligations Due in less than one year $ 6,750 $ — $ 54 $ 6,696 Mortgage-backed securities: Residential MBS 218,450 1,016 2,305 217,161 Commercial MBS 22,542 58 108 22,492 CMO 72,802 173 1,184 71,791 Corporate Note Due in five to ten years 15,035 92 201 14,926 $ 335,579 $ 1,339 $ 3,852 $ 333,066 At June 30, 2018 Amortized cost Gross unrecognized gains Gross unrecognized losses Fair value (In thousands) U.S. Government and Federal agency obligations Due in less than one year $ 1,750 $ — $ 23 $ 1,727 Due in one to five years 5,000 — 94 4,906 Mortgage-backed securities: Residential MBS 220,057 23 5,965 214,115 Commercial MBS 13,035 — 421 12,614 CMO 85,488 35 2,398 83,125 Corporate Note Due in five to ten years 10,044 — 20 10,024 $ 335,374 $ 58 $ 8,921 $ 326,511
Gross Unrealized Losses on Debt Securities Held to Maturity	Gross unrecognized losses on debt securities held to maturity and the fair value of the related securities, aggregated by security category and length of time that individual securities have been in a continuous unrecognized loss position at March 31, 2019 and June 30, 2018 were as follows: At March 31, 2019 Less than 12 months Greater than 12 months Total Fair value Gross unrecognized losses Fair value Gross unrecognized losses Fair value Gross unrecognized losses (In thousands) U.S. Government and Federal agency obligations Due in less than one year $ — $ — $ 6,696 $ 54 $ 6,696 $ 54 Mortgage-backed securities: Residential MBS 1,204 3 150,640 2,302 151,844 2,305 Commercial MBS — — 6,660 108 6,660 108 CMO — — 47,941 1,184 47,941 1,184 Corporate Note Due in five to ten years 9,834 201 — — 9,834 201 $ 11,038 $ 204 $ 211,937 $ 3,648 $ 222,975 $ 3,852 At June 30, 2018 Less than 12 months Greater than 12 months Total Fair value Gross unrecognized losses Fair value Gross unrecognized losses Fair value Gross unrecognized losses (In thousands) U.S. Government and Federal agency obligations Due in less than one year $ — $ — $ 1,727 $ 23 $ 1,727 $ 23 Due in one to five years — — 4,906 94 4,906 94 Mortgage-backed securities: Residential MBS 188,281 4,646 24,712 1,319 212,993 5,965 Commercial MBS 8,290 224 4,324 197 12,614 421 CMO 9,106 279 48,211 2,119 57,317 2,398 Corporate Note Due in five to ten years 10,024 20 — — 10,024 20 $ 215,701 $ 5,169 $ 83,880 $ 3,752 $ 299,581 $ 8,921
Debt Securities Available for Sale	The following is a comparative summary of debt securities available for sale at March 31, 2019 and June 30, 2018: At March 31, 2019 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In thousands) Mortgage-backed securities: Residential MBS $ 19 $ 1 $ — $ 20 Commercial MBS 3,959 34 — 3,993 CMO 31,692 — 692 31,000 $ 35,670 $ 35 $ 692 $ 35,013 At June 30, 2018 Amortized cost Gross unrealized gains Gross unrealized losses Fair value (In thousands) Mortgage-backed securities: Residential MBS $ 70 $ 1 $ — $ 71 Commercial MBS 4,074 63 — 4,137 CMO 40,106 — 1,188 38,918 $ 44,250 $ 64 $ 1,188 $ 43,126
Gross Unrealized Losses on Debt Securities Available for Sale	Gross unrealized losses on debt securities available for sale and the fair value of the related securities, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position at March 31, 2019 and June 30, 2018 were as follows: At March 31, 2019 Less than 12 months Greater than 12 months Total Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses (In thousands) Mortgage-backed securities: CMO $ 908 $ 1 $ 30,092 $ 691 $ 31,000 $ 692 $ 908 $ 1 $ 30,092 $ 691 $ 31,000 $ 692 At June 30, 2018 Less than 12 months Greater than 12 months Total Fair value Gross unrealized losses Fair value Gross unrealized losses Fair value Gross unrealized losses (In thousands) Mortgage-backed securities: CMO $ 20,651 $ 444 $ 18,267 $ 744 $ 38,918 $ 1,188 $ 20,651 $ 444 $ 18,267 $ 744 $ 38,918 $ 1,188

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Mar. 31, 2019
Deposits [Abstract]
Deposit Balances	Deposit balances are summarized as follows: March 31, 2019 June 30, 2018 (In thousands) Checking accounts $ 658,959 $ 751,735 Money market deposit accounts 618,145 763,003 Savings accounts 379,204 188,859 Time deposits 1,242,330 1,211,531 $ 2,898,638 $ 2,915,128

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	9 Months Ended
	Mar. 31, 2019
Derivatives and Hedging Activities [Abstract]
Amounts Included in Balance Sheets Related to Fair Value of Derivative Financial Instruments	The following table presents amounts included in the consolidated balance sheets related to the fair value of derivative financial instruments at March 31, 2019 and June 30, 2018 (dollars in thousands): At March 31, 2019 At June 30, 2018 Balance Sheet Line Item Notional Amount Fair Value Notional Amount Fair Value Cash flow hedge interest rate swaps Gross unrealized gain Other Assets $ 375,000 $ 7,039 $ 405,000 $ 16,789 Gross notional / net fair value $ 375,000 $ 7,039 $ 405,000 $ 16,789 Average rate paid 1.50 % 1.96 % Average rate received 2.33 % 2.06 % Weighted average maturity (years) 3.4 3.9
Gains (Losses) Related to Cash Flow Hedge Interest Rate Swaps	Gains (losses) included in the consolidated statements of income and in comprehensive income, on a pre-tax basis, related to cash flow hedge interest rate swaps are as follows: Three Months ended March 31, Nine Months ended March 31, 2019 2018 2019 2018 (in thousands) Amount of (loss) gain recognized in other comprehensive income $ (3,180 ) $ 5,622 $ (7,452 ) $ 8,159 Amount of unrealized gain (loss) reclassified from accumulated other comprehensive loss to interest expense 916 109 2,298 (403 ) Net change in unrealized (loss) gain on interest rate swaps, before taxes $ (4,096 ) $ 5,513 $ (9,750 ) $ 8,562

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Mar. 31, 2019
Fair Value Measurements [Abstract]
Assets Measured at Fair Value on a Recurring Basis	The following tables present the recorded amount of assets and liabilities measured at fair value on a recurring basis as of March 31, 2019 and June 30, 2018 by level within the fair value hierarchy. There were no transfers between levels within the fair value hierarchy during the nine months ended March 31, 2019. Fair Value as of March 31, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (In thousands) Assets: Equity Securities $ 1,378 $ 1,378 $ — $ — Mortgage-backed securities available for sale Residential MBS 20 — 20 — Commercial MBS 3,993 — 3,993 — CMO 31,000 — 31,000 — Total debt securities available for sale 35,013 — 35,013 — Interest rate swaps 7,039 — 7,039 — Total assets measured on a recurring basis $ 43,430 $ 1,378 $ 42,052 $ — Fair Value as of June 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (In thousands) Assets: Equity Securities $ 1,565 $ 1,565 $ — $ — Mortgage-backed securities available for sale Residential MBS 71 — 71 — Commercial MBS 4,137 — 4,137 — CMO 38,918 — 38,918 — Total debt securities available for sale 43,126 — 43,126 — Interest rate swaps 16,789 — 16,789 — Total assets measured on a recurring basis $ 61,480 $ 1,565 $ 59,915 $ —
Amount of Assets Measured at Fair Value on a Nonrecurring Basis	The following tables present the recorded amount of assets measured at fair value on a nonrecurring basis as of March 31, 2019 and June 30, 2018 by level within the fair value hierarchy. Fair Value as of March 31, 2019 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (In thousands) Assets: Impaired loans: Other commercial real estate $ 1,033 $ — $ — $ 1,033 Total impaired loans 1,033 — — 1,033 Real estate owned Other commercial real estate 636 — — 636 Total real estate owned 636 — — 636 Total assets measured on a non-recurring basis $ 1,669 $ — $ — $ 1,669 Fair Value as of June 30, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (In thousands) Assets: Impaired loans: Other commercial real estate $ 1,056 $ — $ — $ 1,056 Total impaired loans 1,056 — — 1,056 Real estate owned Other commercial real estate 1,564 — — 1,564 Total real estate owned 1,564 — — 1,564 Total assets measured on a non-recurring basis $ 2,620 $ — $ — $ 2,620
Estimated Fair Value of Financial Instruments	The following tables present the carrying amount, estimated fair value, and placement in the fair value hierarchy of financial instruments not recorded at fair values in their entirety on a recurring basis on the Company’s balance sheet at March 31, 2019 and June 30, 2018. These tables exclude financial instruments for which the carrying amount approximates fair value. Financial instruments for which the carrying amount approximates fair value include cash and cash equivalents, FHLB stock, non-maturity deposits, overnight borrowings, and accrued interest. March 31, 2019 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (In thousands) Financial assets: Debt securities held to maturity $ 335,579 $ 333,066 $ — $ 333,066 $ — Loans, net 3,495,388 3,448,659 — — 3,448,659 Financial liabilities: Time deposits 1,242,330 1,249,862 — 1,249,862 — Term borrowings 493,775 491,500 — 491,500 — June 30, 2018 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Unobservable Inputs (Level 3) (In thousands) Financial assets: Debt securities held to maturity $ 335,374 $ 326,511 $ — $ 326,511 $ — Loans, net 3,540,903 3,470,434 — — 3,470,434 Financial liabilities: Time deposits 1,211,531 1,219,558 — 1,219,558 — Term borrowings 497,372 486,278 — 486,278 —

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	9 Months Ended
	Mar. 31, 2019
Other Comprehensive Income [Abstract]
Comprehensive Income both Gross and Net of Tax	The components of comprehensive income, both gross and net of tax, are presented for the periods below (in thousands): Three Months ended March 31, Nine Months ended March 31, 2019 2018 2019 2018 Gross: Net income $ 16,063 $ 18,172 $ 52,473 $ 55,293 Other comprehensive income: Change in unrealized holding gain (loss) on debt securities available for sale 225 (423 ) 466 (1,065 ) Reclassification adjustment for security loss included in net income — — — 324 Amortization related to post-retirement obligations 8 9 25 27 Net change in unrealized (loss) gain on interest rate swaps (4,096 ) 5,513 (9,750 ) 8,562 Total other comprehensive (loss) income (3,863 ) 5,099 (9,259 ) 7,848 Total comprehensive income 12,200 23,271 43,214 63,141 Tax applicable to: Net income 3,613 4,747 13,197 25,902 Other comprehensive income: Change in unrealized holding gain (loss) on debt securities available for sale 66 (125 ) 148 (402 ) Reclassification adjustment for security loss included in net income — — — 140 Amortization related to post-retirement obligations 2 4 5 12 Net change in unrealized (loss) gain on interest rate swaps (1,198 ) 1,694 (2,859 ) 3,006 Total other comprehensive (loss) income (1,130 ) 1,573 (2,706 ) 2,756 Total comprehensive income 2,483 6,320 10,491 28,658 Net of tax: Net income 12,450 13,425 39,276 29,391 Other comprehensive income: Change in unrealized holding gain (loss) on debt securities available for sale 159 (298 ) 318 (663 ) Reclassification adjustment for security loss included in net income — — — 184 Amortization related to post-retirement obligations 6 5 20 15 Net change in unrealized (loss) gain on interest rate swaps (2,898 ) 3,819 (6,891 ) 5,556 Total other comprehensive (loss) income (2,733 ) 3,526 (6,553 ) 5,092 Total comprehensive income $ 9,717 $ 16,951 $ 32,723 $ 34,483
Accumulated Other Comprehensive Income (Loss), Net of Tax	The following table presents the changes in the components of accumulated other comprehensive income (loss), net of tax, for the nine months ended March 31, 2019 and 2018 (in thousands): Unrealized Holding (Loss) Gain on Debt Securities Available for Sale Post Retirement Obligations Unrealized Holding Gain (Loss) on Interest Rate Swaps Accumulated Other Comprehensive Income (Loss), Net of Tax Balance at June 30, 2018 $ (86 ) $ (314 ) $ 11,623 $ 11,223 Net change 318 20 (6,891 ) (6,553 ) Reclassification due to the adoption of ASU No. 2016-01 (658 ) — — (658 ) Balance at March 31, 2019 $ (426 ) $ (294 ) $ 4,732 $ 4,012 Balance at June 30, 2017 $ 438 $ (569 ) $ 3,651 $ 3,520 Net change (479 ) 15 5,556 5,092 Reclassification due to the adoption of ASU No. 2018-02 37 (113 ) 1,176 1,100 Balance at March 31, 2018 $ (4 ) $ (667 ) $ 10,383 $ 9,712
Information about Amount of Reclassification from Accumulated Other Comprehensive Income (Loss)	The following table sets forth information about the amount reclassified from accumulated other comprehensive (loss) income to the consolidated statement of income and the affected line item in the statement where net income is presented (in thousands). Three Months ended March 31, Nine Months ended March 31, Accumulated Other Comprehensive (Loss) Income Component Affected line item in the Consolidated Statement of Income 2019 2018 2019 2018 Reclassification adjustment for security losses included in net income Net loss on sale of debt securities available for sale $ — $ — $ — $ 324 Amortization related to post-retirement obligations (1) Net loss Other expenses 8 9 25 27 Total before tax 8 9 25 351 Income tax benefit 2 4 5 152 Net of tax 6 5 20 199 (1) These accumulated other comprehensive income (loss) components are included in the computations of net periodic benefit cost. See Note 5. Postretirement Benefits.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Mar. 31, 2019
Revenue Recognition [Abstract]
Non-interest Income	The following table summarizes non-interest income for the periods indicated (in thousands): Three Months Ended March 31, Nine Months Ended March 31, 2019 2018 2019 2018 Fees and service charges for customer services: Service charges on deposits $ 127 $ 120 $ 385 $ 370 ATM and card interchange fees 121 123 388 372 Service charges on loans 157 128 271 268 Total fees and service charges $ 405 $ 371 $ 1,044 $ 1,010 Bank owned life insurance 594 603 1,828 1,879 Gains (losses) on sale of OREO — — 855 (2 ) Change in fair value of equity securities 87 — (187 ) — Net losses on sale of debt securities available for sale — — — (324 ) Other income 9 7 18 16 Total non-interest income $ 1,095 $ 981 $ 3,558 $ 2,579

Earnings Per Share ("EPS") (Det

Earnings Per Share ("EPS") (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Summary of the Company's earnings per share calculations and reconciliation of basic to diluted earnings per share [Abstract]
Net income	$ 12,450	$ 13,425	$ 39,276	$ 29,391
Weighted average common shares outstanding-basic (in shares)	43,078	44,319	43,732	44,105
Effect of dilutive stock options outstanding (in shares)	660	785	576	879
Weighted average common shares outstanding-diluted (in shares)	43,738	45,104	44,308	44,984
Earnings per share-basic (in dollars per share)	$ 0.29	$ 0.30	$ 0.90	$ 0.67
Earnings per share-diluted (in dollars per share)	$ 0.28	$ 0.30	$ 0.89	$ 0.65
Anti-dilutive (in shares)	46	1,730	3,178	1,052

Stock Repurchase Program (Detai

Stock Repurchase Program (Details) - Stock Repurchase Program [Member] - $ / shares	9 Months Ended
	Mar. 31, 2019	Mar. 04, 2015
Shares Repurchased [Abstract]
Percentage of outstanding shares authorized to be repurchased		5.00%
Number of outstanding shares authorized to be repurchased (in shares)		2,205,451
Number of shares yet to be repurchased (in shares)	0
Shares acquired under fourth repurchase program (in shares)	1,888,851
Weighted average cost of shares acquired under fourth repurchase program (in dollars per share)	$ 15.20

Equity Incentive Plans (Details

Equity Incentive Plans (Details) - shares	9 Months Ended
	Mar. 31, 2019	Jul. 26, 2011	Apr. 22, 2008
2007 Equity Plan [Member]
Equity Incentive Plans [Abstract]
Equity Incentive Plan issuance of common stock (in shares)			4,172,817
2011 Equity Plan [Member]
Equity Incentive Plans [Abstract]
Equity Incentive Plan issuance of common stock (in shares)		5,790,849
2011 Equity Plan [Member] | Restricted Stock and Restricted Stock Units [Member] | Maximum [Member]
Equity Incentive Plans [Abstract]
Equity Incentive Plan issuance of common stock (in shares)		1,654,528
2011 Equity Plan [Member] | Stock Options [Member]
Equity Incentive Plans [Abstract]
Vesting period	5 years
Expiration period of vested options after issuance	10 years
Expiration period of vested options after termination of services	90 days

Equity Incentive Plans, Assumpt

Equity Incentive Plans, Assumptions Used in Valuing Options (Details) - shares	9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based payment award, employee stock purchase plan, valuation assumptions [Abstract]
Option shares granted (in shares)	20,000
Stock Options [Member]
Share-based payment award, employee stock purchase plan, valuation assumptions [Abstract]
Option shares granted (in shares)	20,000	0
Expected dividend yield	7.47%
Expected volatility	17.68%
Risk-free interest rate	2.82%
Expected option life (in years)	6 years 6 months

Equity Incentive Plans, Stock O

Equity Incentive Plans, Stock Option Activity and Related Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Number of Stock Options [Roll Forward]
Granted (in shares)			20,000
Stock Options [Member]
Number of Stock Options [Roll Forward]
Outstanding at June 30, 2018			2,599,864
Granted (in shares)			20,000	0
Exercised (in shares)			(344,260)
Forfeited (in shares)			(20,000)
Expired (in shares)			(16,000)
Outstanding, end of period (in shares)	2,239,604		2,239,604		2,599,864
Exercisable, end of period (in shares)	2,152,004		2,152,004
Weighted Average Grant Date Fair Value [Abstract]
Outstanding, beginning of period (in dollars per share)			$ 2.64
Granted (in dollars per share)			0.78
Exercised (in dollars per share)			2.69
Forfeited (in dollars per share)			0.89
Expired (in dollars per share)			2.70
Outstanding, end of period (in dollars per share)	$ 2.63		2.63		$ 2.64
Exercisable, end of period (in dollars per share)	2.70		2.70
Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in dollars per share)			12.16
Granted (in dollars per share)			16.15
Exercised (in dollars per share)			12.13
Forfeited (in dollars per share)			15.40
Expired (in dollars per share)			12.60
Outstanding, end of period (in dollars per share)	12.19		12.19		$ 12.16
Exercisable, end of period (in dollars per share)	$ 12.05		$ 12.05
Weighted Average Remaining Contractual Life [Abstract]
Outstanding			2 years 8 months 12 days		3 years 4 months 24 days
Granted			10 years
Exercised			3 years 9 months 18 days
Forfeited			9 years 3 months 18 days
Expired			3 years 2 months 12 days
Exercisable			2 years 6 months
Share based compensation expense	$ 8	$ 8	$ 28	$ 30
Expected future expense related to the non-vested options outstanding	$ 73		$ 73
Weighted average period related to the non-vested options outstanding			3 years 8 months 12 days

Equity Incentive Plans, Restric

Equity Incentive Plans, Restricted Stock (Details) - Restricted Stock [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Equity Incentive Plans [Abstract]
Vesting period			5 years
Number of Shares Awarded [Roll Forward]
Non-vested, beginning of period (in shares)			14,200
Granted (in shares)			10,000
Vested (in shares)			(5,400)
Non-vested, end of period (in shares)	18,800		18,800
Weighted Average Grant Date Fair Value [Abstract]
Non-vested, beginning of period (in dollars per share)			$ 15.78
Granted (in dollars per share)			16.15
Vested (in dollars per share)			15.99
Non-vested, end of period (in dollars per share)	$ 15.91		$ 15.91
Share based compensation expense	$ 27	$ 29	$ 93	$ 108
Expected future expense related to the non-vested restricted stock shares	$ 232		$ 232
Weighted average period for recognition			3 years 1 month 6 days

Post-retirement Benefits (Detai

Post-retirement Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Pension Plan [Member] | Nonqualified Plan [Member] | Retirement Plan [Member]
Net Periodic benefit costs expected to be amortized into expenses [Abstract]
Service cost	$ 31	$ 33	$ 92	$ 98
Interest cost	54	52	164	156
Amortization of unrecognized [Abstract]
Net loss	0	0	0	0
Total	85	85	256	254
Pension Plan [Member] | Nonqualified Plan [Member] | BEP Plan [Member]
Net Periodic benefit costs expected to be amortized into expenses [Abstract]
Service cost	0	0	0	0
Interest cost	13	11	39	33
Amortization of unrecognized [Abstract]
Net loss	8	9	25	27
Total	21	20	64	60
Postretirement Health Coverage [Member] | Qualified Plan [Member] | Medical Plan [Member]
Net Periodic benefit costs expected to be amortized into expenses [Abstract]
Service cost	11	15	34	44
Interest cost	59	52	176	158
Amortization of unrecognized [Abstract]
Net loss	0	0	0	0
Total	$ 70	$ 67	$ 210	$ 202

Loans, net (Details)

Loans, net (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2017
Summary of Loans [Abstract]
Total loans	$ 3,533,393		$ 3,578,343
Less [Abstract]
Unearned deferred fees and discounts, net	9,415		6,878
Allowance for loan losses	28,590	$ 28,639	30,562	$ 30,473	$ 30,402	$ 30,272
Loans, net	3,495,388		3,540,903
Residential [Member]
Summary of Loans [Abstract]
Total loans	269,521		267,771
Less [Abstract]
Allowance for loan losses	2,130	2,002	1,990	1,903	1,902	1,261
Residential Commercial Real Estate [Member]
Summary of Loans [Abstract]
Total loans	2,053,654		2,005,315
Less [Abstract]
Allowance for loan losses	15,578	15,259	17,259	17,045	16,475	15,794
Grocery/Credit Retail Commercial Real Estate [Member]
Summary of Loans [Abstract]
Total loans	498,908		497,708
Less [Abstract]
Allowance for loan losses	3,339	3,274	3,015	2,957	2,900	3,000
Other Commercial Real Estate [Member]
Summary of Loans [Abstract]
Total loans	703,066		796,589
Less [Abstract]
Allowance for loan losses	7,228	7,780	7,828	8,170	8,783	10,017
Construction and Land Loans [Member]
Summary of Loans [Abstract]
Total loans	8,244		10,960
Less [Abstract]
Allowance for loan losses	$ 315	$ 324	$ 470	$ 398	$ 342	$ 200

Loans, net, Allowance for Loan

Loans, net, Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Activity in allowance for loan losses [Abstract]
Balance, beginning of period	$ 28,639	$ 30,402	$ 30,562	$ 30,272
Reversal of provision for loan losses	0	0	(2,000)	0
Recoveries of loans previously charged off	16	166	93	318
Loans charged off	(65)	(95)	(65)	(117)
Balance, end of period	$ 28,590	$ 30,473	$ 28,590	$ 30,473

Loans, net, Allowance for Loa_2

Loans, net, Allowance for Loan Losses by Category (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Allowance for loan losses [Abstract]
Balance, beginning of period	$ 28,639	$ 30,402	$ 30,562	$ 30,272
Charge-offs	(65)	(95)	(65)	(117)
Recoveries	16	166	93	318
Provisions (reversal)	0	0	(2,000)	0
Balance, end of period	28,590	30,473	28,590	30,473
Residential [Member]
Allowance for loan losses [Abstract]
Balance, beginning of period	2,002	1,902	1,990	1,261
Charge-offs	(65)	(95)	(65)	(117)
Recoveries	16	19	34	139
Provisions (reversal)	177	77	171	620
Balance, end of period	2,130	1,903	2,130	1,903
Residential Commercial Real Estate [Member]
Allowance for loan losses [Abstract]
Balance, beginning of period	15,259	16,475	17,259	15,794
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provisions (reversal)	319	570	(1,681)	1,251
Balance, end of period	15,578	17,045	15,578	17,045
Grocery/Credit Retail Commercial Real Estate [Member]
Allowance for loan losses [Abstract]
Balance, beginning of period	3,274	2,900	3,015	3,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provisions (reversal)	65	57	324	(43)
Balance, end of period	3,339	2,957	3,339	2,957
Other Commercial Real Estate [Member]
Allowance for loan losses [Abstract]
Balance, beginning of period	7,780	8,783	7,828	10,017
Charge-offs	0	0	0	0
Recoveries	0	147	59	147
Provisions (reversal)	(552)	(760)	(659)	(1,994)
Balance, end of period	7,228	8,170	7,228	8,170
Construction and Land Loans [Member]
Allowance for loan losses [Abstract]
Balance, beginning of period	324	342	470	200
Charge-offs	0	0	0	0
Recoveries	0	0	0	32
Provisions (reversal)	(9)	56	(155)	166
Balance, end of period	$ 315	$ 398	$ 315	$ 398

Loans, net, Allowance for Loa_3

Loans, net, Allowance for Loan Losses by Portfolio Segment Based on Impairment Method (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2017
Allowance for loan losses [Abstract]
Individually evaluated for impairment	$ 0		$ 0
Collectively evaluated for impairment	28,590		30,562
Total	28,590	$ 28,639	30,562	$ 30,473	$ 30,402	$ 30,272
Loans receivable [Abstract]
Individually evaluated for impairment	9,186		9,203
Collectively evaluated for impairment	3,524,207		3,569,140
Total loans	3,533,393		3,578,343
Residential [Member]
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	2,130		1,990
Total	2,130	2,002	1,990	1,903	1,902	1,261
Loans receivable [Abstract]
Individually evaluated for impairment	5,640		5,022
Collectively evaluated for impairment	263,881		262,749
Total loans	269,521		267,771
Residential Commercial Real Estate [Member]
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	15,578		17,259
Total	15,578	15,259	17,259	17,045	16,475	15,794
Loans receivable [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	2,053,654		2,005,315
Total loans	2,053,654		2,005,315
Grocery/Credit Retail Commercial Real Estate [Member]
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	3,339		3,015
Total	3,339	3,274	3,015	2,957	2,900	3,000
Loans receivable [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	498,908		497,708
Total loans	498,908		497,708
Other Commercial Real Estate [Member]
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	7,228		7,828
Total	7,228	7,780	7,828	8,170	8,783	10,017
Loans receivable [Abstract]
Individually evaluated for impairment	3,546		4,181
Collectively evaluated for impairment	699,520		792,408
Total loans	703,066		796,589
Construction and Land Loans [Member]
Allowance for loan losses [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	315		470
Total	315	$ 324	470	$ 398	$ 342	$ 200
Loans receivable [Abstract]
Individually evaluated for impairment	0		0
Collectively evaluated for impairment	8,244		10,960
Total loans	$ 8,244		$ 10,960

Loans, net, Credit Quality Indi

Loans, net, Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Loan credit quality [Abstract]
Total loans	$ 3,533,393	$ 3,578,343
Satisfactory [Member]
Loan credit quality [Abstract]
Total loans	3,404,052	3,418,723
Pass/Watch [Member]
Loan credit quality [Abstract]
Total loans	111,443	133,113
Special Mention [Member]
Loan credit quality [Abstract]
Total loans	7,002	14,902
Substandard [Member]
Loan credit quality [Abstract]
Total loans	10,896	11,605
Doubtful [Member]
Loan credit quality [Abstract]
Total loans	0	0
Residential [Member]
Loan credit quality [Abstract]
Total loans	269,521	267,771
Residential [Member] | Satisfactory [Member]
Loan credit quality [Abstract]
Total loans	244,946	242,534
Residential [Member] | Pass/Watch [Member]
Loan credit quality [Abstract]
Total loans	16,652	18,731
Residential [Member] | Special Mention [Member]
Loan credit quality [Abstract]
Total loans	1,170	171
Residential [Member] | Substandard [Member]
Loan credit quality [Abstract]
Total loans	6,753	6,335
Residential [Member] | Doubtful [Member]
Loan credit quality [Abstract]
Total loans	0	0
Residential Commercial Real Estate [Member]
Loan credit quality [Abstract]
Total loans	2,053,654	2,005,315
Residential Commercial Real Estate [Member] | Satisfactory [Member]
Loan credit quality [Abstract]
Total loans	2,036,153	1,981,781
Residential Commercial Real Estate [Member] | Pass/Watch [Member]
Loan credit quality [Abstract]
Total loans	15,948	21,952
Residential Commercial Real Estate [Member] | Special Mention [Member]
Loan credit quality [Abstract]
Total loans	1,553	1,582
Residential Commercial Real Estate [Member] | Substandard [Member]
Loan credit quality [Abstract]
Total loans	0	0
Residential Commercial Real Estate [Member] | Doubtful [Member]
Loan credit quality [Abstract]
Total loans	0	0
Grocery/Credit Retail Commercial Real Estate [Member]
Loan credit quality [Abstract]
Total loans	498,908	497,708
Grocery/Credit Retail Commercial Real Estate [Member] | Satisfactory [Member]
Loan credit quality [Abstract]
Total loans	496,010	494,723
Grocery/Credit Retail Commercial Real Estate [Member] | Pass/Watch [Member]
Loan credit quality [Abstract]
Total loans	2,898	0
Grocery/Credit Retail Commercial Real Estate [Member] | Special Mention [Member]
Loan credit quality [Abstract]
Total loans	0	2,985
Grocery/Credit Retail Commercial Real Estate [Member] | Substandard [Member]
Loan credit quality [Abstract]
Total loans	0	0
Grocery/Credit Retail Commercial Real Estate [Member] | Doubtful [Member]
Loan credit quality [Abstract]
Total loans	0	0
Other Commercial Real Estate [Member]
Loan credit quality [Abstract]
Total loans	703,066	796,589
Other Commercial Real Estate [Member] | Satisfactory [Member]
Loan credit quality [Abstract]
Total loans	618,699	688,725
Other Commercial Real Estate [Member] | Pass/Watch [Member]
Loan credit quality [Abstract]
Total loans	75,945	92,430
Other Commercial Real Estate [Member] | Special Mention [Member]
Loan credit quality [Abstract]
Total loans	4,279	10,164
Other Commercial Real Estate [Member] | Substandard [Member]
Loan credit quality [Abstract]
Total loans	4,143	5,270
Other Commercial Real Estate [Member] | Doubtful [Member]
Loan credit quality [Abstract]
Total loans	0	0
Construction and Land Loans [Member]
Loan credit quality [Abstract]
Total loans	8,244	10,960
Construction and Land Loans [Member] | Satisfactory [Member]
Loan credit quality [Abstract]
Total loans	8,244	10,960
Construction and Land Loans [Member] | Pass/Watch [Member]
Loan credit quality [Abstract]
Total loans	0	0
Construction and Land Loans [Member] | Special Mention [Member]
Loan credit quality [Abstract]
Total loans	0	0
Construction and Land Loans [Member] | Substandard [Member]
Loan credit quality [Abstract]
Total loans	0	0
Construction and Land Loans [Member] | Doubtful [Member]
Loan credit quality [Abstract]
Total loans	$ 0	$ 0

Loans, net, Past Due (Details)

Loans, net, Past Due (Details) - USD ($) $ in Thousands	Mar. 31, 2019		Jun. 30, 2018
Loans Past Due [Abstract]
Total past due	$ 11,294		$ 11,389
Current	3,522,099		3,566,954
Total loans	3,533,393		3,578,343
Nonaccrual	10,184	[1]	7,877	[2]
30-59 Days Past Due [Member]
Loans Past Due [Abstract]
Total past due	1,679		5,287
60-89 Days Past Due [Member]
Loans Past Due [Abstract]
Total past due	1,736		753
90 Days or More Past Due [Member]
Loans Past Due [Abstract]
Total past due	7,879		5,349
Residential [Member]
Loans Past Due [Abstract]
Total past due	8,431		8,662
Current	261,090		259,109
Total loans	269,521		267,771
Nonaccrual	6,753	[1]	6,335	[2]
Residential [Member] | Nonaccrual Loans [Member]
Loans Past Due [Abstract]
Current	412		504
Residential [Member] | 30-59 Days Past Due [Member]
Loans Past Due [Abstract]
Total past due	1,146		2,696
Residential [Member] | 30-59 Days Past Due [Member] | Nonaccrual Loans [Member]
Loans Past Due [Abstract]
Total past due	31		35
Residential [Member] | 60-89 Days Past Due [Member]
Loans Past Due [Abstract]
Total past due	1,736		753
Residential [Member] | 60-89 Days Past Due [Member] | Nonaccrual Loans [Member]
Loans Past Due [Abstract]
Total past due	761		582
Residential [Member] | 90 Days or More Past Due [Member]
Loans Past Due [Abstract]
Total past due	5,549		5,213
Residential Commercial Real Estate [Member]
Loans Past Due [Abstract]
Total past due	0		1,582
Current	2,053,654		2,003,733
Total loans	2,053,654		2,005,315
Nonaccrual	0	[1]	0	[2]
Residential Commercial Real Estate [Member] | 30-59 Days Past Due [Member]
Loans Past Due [Abstract]
Total past due	0		1,582
Residential Commercial Real Estate [Member] | 60-89 Days Past Due [Member]
Loans Past Due [Abstract]
Total past due	0		0
Residential Commercial Real Estate [Member] | 90 Days or More Past Due [Member]
Loans Past Due [Abstract]
Total past due	0		0
Grocery/Credit Retail Commercial Real Estate [Member]
Loans Past Due [Abstract]
Total past due	0		0
Current	498,908		497,708
Total loans	498,908		497,708
Nonaccrual	0	[1]	0	[2]
Grocery/Credit Retail Commercial Real Estate [Member] | 30-59 Days Past Due [Member]
Loans Past Due [Abstract]
Total past due	0		0
Grocery/Credit Retail Commercial Real Estate [Member] | 60-89 Days Past Due [Member]
Loans Past Due [Abstract]
Total past due	0		0
Grocery/Credit Retail Commercial Real Estate [Member] | 90 Days or More Past Due [Member]
Loans Past Due [Abstract]
Total past due	0		0
Other Commercial Real Estate [Member]
Loans Past Due [Abstract]
Total past due	2,863		1,145
Current	700,203		795,444
Total loans	703,066		796,589
Nonaccrual	3,431	[1]	1,542	[2]
Other Commercial Real Estate [Member] | Nonaccrual Loans [Member]
Loans Past Due [Abstract]
Current	1,101		1,407
Other Commercial Real Estate [Member] | 30-59 Days Past Due [Member]
Loans Past Due [Abstract]
Total past due	533		1,009
Other Commercial Real Estate [Member] | 60-89 Days Past Due [Member]
Loans Past Due [Abstract]
Total past due	0		0
Other Commercial Real Estate [Member] | 90 Days or More Past Due [Member]
Loans Past Due [Abstract]
Total past due	2,330		136
Construction and Land Loans [Member]
Loans Past Due [Abstract]
Total past due	0		0
Current	8,244		10,960
Total loans	8,244		10,960
Nonaccrual	0	[1]	0	[2]
Construction and Land Loans [Member] | 30-59 Days Past Due [Member]
Loans Past Due [Abstract]
Total past due	0		0
Construction and Land Loans [Member] | 60-89 Days Past Due [Member]
Loans Past Due [Abstract]
Total past due	0		0
Construction and Land Loans [Member] | 90 Days or More Past Due [Member]
Loans Past Due [Abstract]
Total past due	$ 0		$ 0
[1]	Included in nonaccrual loans at March 31, 2019 are residential loans totaling $31,000 that were 30-59 days past due; and residential loans totaling $761,000 that were 60-89 days past due; and residential loans totaling $412,000 and other commercial real estate loans totaling $1.1 million that were less than 30 days past due.
[2]	Included in nonaccrual loans at June 30, 2018 are residential loans totaling $35,000 that were 30-59 days past due; residential loans totaling $582,000 that were 60-89 days past due; and residential loans totaling $504,000 and other commercial real estate loans totaling $1.4 million that were less than 30 days past due.

Loans, net, Recorded Investment

Loans, net, Recorded Investment, Unpaid Principal Balance and Allowance for Impaired Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Impaired Financing Receivable [Abstract]
Threshold value for individually classifying loans as impaired	$ 1,000
With no related allowance recorded [Abstract]
Recorded investment	9,033	$ 9,039
Unpaid principal balance	9,186	9,203
Residential [Member]
With no related allowance recorded [Abstract]
Recorded investment	5,647	5,021
Unpaid principal balance	5,640	5,022
Other Commercial Real Estate [Member]
With no related allowance recorded [Abstract]
Recorded investment	3,386	4,018
Unpaid principal balance	$ 3,546	$ 4,181

Loans, net, Average Recorded In

Loans, net, Average Recorded Investment and Interest Income Recognized on Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
With no related allowance recorded [Abstract]
Average recorded investment	$ 9,165	$ 12,935	$ 9,094	$ 12,251
Interest income recognized	44	117	239	391
Total [Abstract]
Cash basis interest income	39	108	168	365
Residential [Member]
With no related allowance recorded [Abstract]
Average recorded investment	5,691	4,746	5,509	4,507
Interest income recognized	12	12	87	62
Other Commercial Real Estate [Member]
With no related allowance recorded [Abstract]
Average recorded investment	3,474	8,189	3,585	7,744
Interest income recognized	$ 32	$ 105	$ 152	$ 329

Loans, net, Troubled Debt Restr

Loans, net, Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019USD ($)Contract	Mar. 31, 2018USD ($)Contract	Mar. 31, 2019USD ($)Contract	Mar. 31, 2018USD ($)Contract	Jun. 30, 2018USD ($)
Troubled Debt Restructurings [Abstract]
Troubled debt restructurings	$ 1,520		$ 1,520		$ 1,890
Troubled debt restructurings, allowance	$ 0		$ 0		0
Number of relationships | Contract	0	0	0	1
Pre-modification outstanding recorded investment	$ 0	$ 0	$ 0	$ 271
Post-modification outstanding recorded investment	$ 0	$ 0	$ 0	$ 249
Number of TDRs that have subsequently defaulted | Contract	0	0	0	0
Residential [Member]
Troubled Debt Restructurings [Abstract]
Troubled debt restructurings	$ 169		$ 169		174
Other Commercial Real Estate [Member]
Troubled Debt Restructurings [Abstract]
Troubled debt restructurings	$ 1,351		$ 1,351		1,716
Number of relationships | Contract	0	0	0	1
Pre-modification outstanding recorded investment	$ 0	$ 0	$ 0	$ 271
Post-modification outstanding recorded investment	0	$ 0	0	$ 249
Performing [Member]
Troubled Debt Restructurings [Abstract]
Troubled debt restructurings	250		250		309
Troubled debt restructurings, allowance	0		0		0
Performing [Member] | Residential [Member]
Troubled Debt Restructurings [Abstract]
Troubled debt restructurings	0		0		0
Performing [Member] | Other Commercial Real Estate [Member]
Troubled Debt Restructurings [Abstract]
Troubled debt restructurings	250		250		309
Nonperforming [Member]
Troubled Debt Restructurings [Abstract]
Troubled debt restructurings	1,270		1,270		1,581
Troubled debt restructurings, allowance	0		0		0
Nonperforming [Member] | Residential [Member]
Troubled Debt Restructurings [Abstract]
Troubled debt restructurings	169		169		174
Nonperforming [Member] | Other Commercial Real Estate [Member]
Troubled Debt Restructurings [Abstract]
Troubled debt restructurings	$ 1,101		$ 1,101		$ 1,407

Securities, Debt Securities Hel

Securities, Debt Securities Held to Maturity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Held-to-maturity Securities [Abstract]
Amortized cost	$ 335,579		$ 335,579		$ 335,374
Gross unrecognized gains	1,339		1,339		58
Gross unrecognized losses	3,852		3,852		8,921
Fair value	333,066		333,066		326,511
Other-than-temporary impairment charges on securities held to maturity	0	$ 0	0	$ 0
Advances [Member]
Held-to-maturity Securities [Abstract]
Fair value of held-to-maturity debt securities pledged as collateral	7,887		7,887		9,105
Cash Flow Hedging [Member] | Interest Rate Swaps [Member]
Held-to-maturity Securities [Abstract]
Fair value of held-to-maturity debt securities pledged as collateral	0		0		0
Municipal Deposits [Member]
Held-to-maturity Securities [Abstract]
Fair value of held-to-maturity debt securities pledged as collateral	20,200		20,200		0
Held-to-maturity Securities [Member]
Held-to-maturity Securities [Abstract]
Proceeds from sale of held-to-maturity debt securities	0	$ 0	0	$ 0
Corporate Note [Member]
Held-to-maturity Securities [Abstract]
Amortized cost, due in five to ten years	15,035		15,035		10,044
Gross unrecognized gains, due in five to ten years	92		92		0
Gross unrecognized losses, due in five to ten years	201		201		20
Fair value, due in five to ten years	14,926		14,926		10,024
U.S. Government and Federal Agency Obligations [Member]
Held-to-maturity Securities [Abstract]
Amortized cost, due in less than one year	6,750		6,750		1,750
Gross unrecognized gains, due in less than one year	0		0		0
Gross unrecognized losses, due in less than one year	54		54		23
Fair value, due in less than one year	6,696		$ 6,696		1,727
Amortized cost, due in one to five years					5,000
Gross unrecognized gains, due in one to five years					0
Gross unrecognized losses, due in one to five years					94
Fair value, due in one to five years					4,906
Mortgage-backed Securities [Member] | Minimum [Member]
Held-to-maturity Securities [Abstract]
Contractual maturities of mortgage-backed securities held-to-maturity			20 years
Residential MBS [Member]
Held-to-maturity Securities [Abstract]
Amortized cost	218,450		$ 218,450		220,057
Gross unrecognized gains	1,016		1,016		23
Gross unrecognized losses	2,305		2,305		5,965
Fair value	217,161		217,161		214,115
Commercial MBS [Member]
Held-to-maturity Securities [Abstract]
Amortized cost	22,542		22,542		13,035
Gross unrecognized gains	58		58		0
Gross unrecognized losses	108		108		421
Fair value	22,492		22,492		12,614
CMO [Member]
Held-to-maturity Securities [Abstract]
Amortized cost	72,802		72,802		85,488
Gross unrecognized gains	173		173		35
Gross unrecognized losses	1,184		1,184		2,398
Fair value	$ 71,791		$ 71,791		$ 83,125

Securities, Gross Unrealized Lo

Securities, Gross Unrealized Losses on Debt Securities Held to Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Fair Value [Abstract]
Less than 12 months	$ 11,038	$ 215,701
Greater than 12 months	211,937	83,880
Total	222,975	299,581
Gross Unrecognized Losses [Abstract]
Less than 12 months	204	5,169
Greater than 12 months	3,648	3,752
Total	3,852	8,921
Corporate Note [Member]
Fair Value [Abstract]
Less than 12 months	9,834	10,024
Greater than 12 months	0	0
Total	9,834	10,024
Gross Unrecognized Losses [Abstract]
Less than 12 months	201	20
Greater than 12 months	0	0
Total	201	20
U.S. Government and Federal Agency Obligations [Member]
Fair Value [Abstract]
Fair value, due in less than one year, less than 12 months	0	0
Fair value, due in less than one year, greater than 12 months	6,696	1,727
Fair value, due in less than one year	6,696	1,727
Fair value, due in one to five years, less than 12 months		0
Fair value, due in one to five years, greater than 12 months		4,906
Fair value, due in one to five years		4,906
Gross Unrecognized Losses [Abstract]
Gross unrecognized losses, due in less than one year, less than 12 months	0	0
Gross unrecognized losses, due in less than one year, greater than 12 months	54	23
Gross unrecognized losses, due in less than one year	54	23
Gross unrecognized losses, due in one to five years, less than 12 months		0
Gross unrecognized losses, due in one to five years, greater than 12 months		94
Gross unrecognized losses, due in one to five years		94
Residential MBS [Member]
Fair Value [Abstract]
Less than 12 months	1,204	188,281
Greater than 12 months	150,640	24,712
Total	151,844	212,993
Gross Unrecognized Losses [Abstract]
Less than 12 months	3	4,646
Greater than 12 months	2,302	1,319
Total	2,305	5,965
Commercial MBS [Member]
Fair Value [Abstract]
Less than 12 months	0	8,290
Greater than 12 months	6,660	4,324
Total	6,660	12,614
Gross Unrecognized Losses [Abstract]
Less than 12 months	0	224
Greater than 12 months	108	197
Total	108	421
CMO [Member]
Fair Value [Abstract]
Less than 12 months	0	9,106
Greater than 12 months	47,941	48,211
Total	47,941	57,317
Gross Unrecognized Losses [Abstract]
Less than 12 months	0	279
Greater than 12 months	1,184	2,119
Total	$ 1,184	$ 2,398

Securities, Debt Securities Ava

Securities, Debt Securities Available for Sale (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Comparative summary of debt securities available for sale [Abstract]
Amortized cost	$ 35,670		$ 35,670		$ 44,250
Gross unrealized gains	35		35		64
Gross unrealized losses	692		692		1,188
Fair value	35,013		35,013		43,126
Proceeds from sales of debt securities available for sale			0	$ 29,505
Cash Flow Hedging [Member] | Interest Rate Swaps [Member]
Comparative summary of debt securities available for sale [Abstract]
Fair value of debt securities available for sale pledged as collateral	0		0		0
Advances [Member]
Comparative summary of debt securities available for sale [Abstract]
Fair value of debt securities available for sale pledged as collateral	13,485		13,485		15,507
Municipal Deposits [Member]
Comparative summary of debt securities available for sale [Abstract]
Fair value of debt securities available for sale pledged as collateral	0		0		0
Available-for-sale Securities [Member]
Comparative summary of debt securities available for sale [Abstract]
Proceeds from sales of debt securities available for sale	0	$ 0	0	29,505
Debt securities available for sale sold, amortized cost				29,830
Debt securities available for sale, gross realized losses				324
Other-than-temporary impairment charges on debt securities available for sale	0	$ 0	$ 0	$ 0
Mortgage Backed Securities [Member] | Minimum [Member]
Comparative summary of debt securities available for sale [Abstract]
Contractual maturities of mortgage-backed debt securities available for sale			20 years
Residential MBS [Member]
Comparative summary of debt securities available for sale [Abstract]
Amortized cost	19		$ 19		70
Gross unrealized gains	1		1		1
Gross unrealized losses	0		0		0
Fair value	20		20		71
Commercial MBS [Member]
Comparative summary of debt securities available for sale [Abstract]
Amortized cost	3,959		3,959		4,074
Gross unrealized gains	34		34		63
Gross unrealized losses	0		0		0
Fair value	3,993		3,993		4,137
CMO [Member]
Comparative summary of debt securities available for sale [Abstract]
Amortized cost	31,692		31,692		40,106
Gross unrealized gains	0		0		0
Gross unrealized losses	692		692		1,188
Fair value	$ 31,000		$ 31,000		$ 38,918

Securities, Gross Unrealized _2

Securities, Gross Unrealized Losses on Debt Securities Available for Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Fair Value [Abstract]
Less than 12 months	$ 908	$ 20,651
Greater than 12 months	30,092	18,267
Total	31,000	38,918
Gross Unrealized Losses [Abstract]
Less than 12 months	1	444
Greater than 12 months	691	744
Total	692	1,188
CMO [Member]
Fair Value [Abstract]
Less than 12 months	908	20,651
Greater than 12 months	30,092	18,267
Total	31,000	38,918
Gross Unrealized Losses [Abstract]
Less than 12 months	1	444
Greater than 12 months	691	744
Total	$ 692	$ 1,188

Securities, Equity Securities (

Securities, Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Equity Securities [Abstract]
Equity securities, estimated fair value	$ 1,378		$ 1,378		$ 1,565
Equity securities sold	0	$ 0	0	$ 0
Gains (Losses) unrealized during the period on equity securities	$ 87		$ (187)
ASU 2016-01 [Member]
Equity Securities [Abstract]
Cumulative effect adjustment on stockholders' equity resulting from adoption of ASU					$ 658

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Deposits [Abstract]
Total brokered deposits	$ 462,440	$ 450,356
Municipal deposits	489,900	535,700
Time deposits greater than $250,000	227,386	244,748
Deposit balances [Abstract]
Checking accounts	658,959	751,735
Money market deposit accounts	618,145	763,003
Savings accounts	379,204	188,859
Time deposits	1,242,330	1,211,531
Deposits	2,898,638	2,915,128
Municipal Deposits [Member]
Deposits [Abstract]
Held-to-maturity securites pledged	20,200
Municipal Deposits [Member] | FHLBNY [Member]
Deposits [Abstract]
Letters of credit securing deposit	$ 177,000	$ 217,000

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Details) - Interest Rate Swaps [Member] $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)Contract	Jun. 30, 2018USD ($)
Derivative Instrument Detail [Abstract]
Number of interest rate swap agreements | Contract	21
Variable rate basis received	one month LIBOR
Notional amount of derivatives	$ 375,000
Minimum [Member]
Derivative Instrument Detail [Abstract]
Fixed interest rate paid	0.68%
Derivative, maturity date	Jun. 26, 2019
Maximum [Member]
Derivative Instrument Detail [Abstract]
Fixed interest rate paid	1.90%
Derivative, maturity date	Jun. 26, 2025
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Instrument Detail [Abstract]
Notional amount of derivatives	$ 375,000	$ 405,000
Net fair value	$ 7,039	$ 16,789
Average rate paid	1.50%	1.96%
Average rate received	2.33%	2.06%
Weighted average maturity (years)	3 years 4 months 24 days	3 years 10 months 24 days
Other Assets [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Instrument Detail [Abstract]
Asset derivatives, notional amount	$ 375,000	$ 405,000
Asset derivatives, fair value	$ 7,039	$ 16,789

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities, Gains (Losses) Related to Cash Flow Hedge Interest Rate Swaps (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Gains (losses) included in consolidated statements of income and in comprehensive income, on pre-tax basis [Abstract]
Net change in unrealized (loss) gain on interest rate swaps, before taxes	$ (4,096)	$ 5,513	$ (9,750)	$ 8,562
Unrealized Holding Gains on Interest Rate Swap [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Accumulated net after-tax losses related to effective cash flow hedges included in accumulated other comprehensive loss	0		0		$ 0
Interest Rate Swap [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Securities pledged as collateral	0		0		$ 0
Interest Rate Swap [Member] | Cash Flow Hedging [Member]
Gains (losses) included in consolidated statements of income and in comprehensive income, on pre-tax basis [Abstract]
Amount of (loss) gain recognized in other comprehensive income	(3,180)	5,622	(7,452)	8,159
Amount of unrealized gain (loss) reclassified from accumulated other comprehensive loss to interest expense	916	109	2,298	(403)
Net change in unrealized (loss) gain on interest rate swaps, before taxes	$ (4,096)	$ 5,513	$ (9,750)	$ 8,562

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended	9 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Effect of Tax Cuts and Jobs Act [Abstract]
Federal corporate tax rate					21.00%		28.00%
Income tax expense	$ 3,613	$ 4,747			$ 13,197	$ 25,902
Tax expense recorded relating to remeasurement of deferred tax balances			$ 10,200
Maximum [Member]
Effect of Tax Cuts and Jobs Act [Abstract]
Federal corporate tax rate				35.00%
New Jersey Tax Legislation [Member]
Effect of Tax Cuts and Jobs Act [Abstract]
One-time non-cash charge due to tax legislation changes					$ 477
New Jersey Tax Legislation [Member] | Tax Year on or after January 1, 2018 through December 31, 2019 [Member]
Effect of Tax Cuts and Jobs Act [Abstract]
Temporary surtax					2.50%
New Jersey Tax Legislation [Member] | Tax Year on or after January 1, 2020 through December 31, 2021 [Member]
Effect of Tax Cuts and Jobs Act [Abstract]
Temporary surtax					1.50%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Valuation, Market Approach [Member] - Unobservable Inputs (Level 3) [Member]	Mar. 31, 2019
Adjustment Rate [Member] | Minimum [Member]
Fair value inputs [Abstract]
Impaired loans, measurement input	0
Adjustment Rate [Member] | Maximum [Member]
Fair value inputs [Abstract]
Impaired loans, measurement input	0.2
Risk Premium Rate [Member] | Minimum [Member]
Fair value inputs [Abstract]
Impaired loans, measurement input	0
Risk Premium Rate [Member] | Maximum [Member]
Fair value inputs [Abstract]
Impaired loans, measurement input	0.1
Discount Rate [Member] | Minimum [Member]
Fair value inputs [Abstract]
Impaired loans, measurement input	0
Real estate owned, measurement input	0.05
Discount Rate [Member] | Maximum [Member]
Fair value inputs [Abstract]
Impaired loans, measurement input	0.08
Real estate owned, measurement input	0.2

Fair Value Measurements, Assets

Fair Value Measurements, Assets Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Assets [Abstract]
Equity securities	$ 1,378	$ 1,565
Total debt securities available for sale	35,013	43,126
Residential MBS [Member]
Assets [Abstract]
Total debt securities available for sale	20	71
Commercial MBS [Member]
Assets [Abstract]
Total debt securities available for sale	3,993	4,137
CMO [Member]
Assets [Abstract]
Total debt securities available for sale	31,000	38,918
Fair Value, Measurements, Recurring [Member]
Assets [Abstract]
Total debt securities available for sale	35,013	43,126
Interest rate swaps	7,039	16,789
Total assets measured on a recurring basis	43,430	61,480
Fair Value, Measurements, Recurring [Member] | Equity Securities [Member]
Assets [Abstract]
Equity securities	1,378	1,565
Fair Value, Measurements, Recurring [Member] | Residential MBS [Member]
Assets [Abstract]
Total debt securities available for sale	20	71
Fair Value, Measurements, Recurring [Member] | Commercial MBS [Member]
Assets [Abstract]
Total debt securities available for sale	3,993	4,137
Fair Value, Measurements, Recurring [Member] | CMO [Member]
Assets [Abstract]
Total debt securities available for sale	31,000	38,918
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets [Abstract]
Total debt securities available for sale	0	0
Interest rate swaps	0	0
Total assets measured on a recurring basis	1,378	1,565
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Securities [Member]
Assets [Abstract]
Equity securities	1,378	1,565
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Residential MBS [Member]
Assets [Abstract]
Total debt securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Commercial MBS [Member]
Assets [Abstract]
Total debt securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | CMO [Member]
Assets [Abstract]
Total debt securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Significant Other Observable inputs (Level 2) [Member]
Assets [Abstract]
Total debt securities available for sale	35,013	43,126
Interest rate swaps	7,039	16,789
Total assets measured on a recurring basis	42,052	59,915
Fair Value, Measurements, Recurring [Member] | Significant Other Observable inputs (Level 2) [Member] | Equity Securities [Member]
Assets [Abstract]
Equity securities	0	0
Fair Value, Measurements, Recurring [Member] | Significant Other Observable inputs (Level 2) [Member] | Residential MBS [Member]
Assets [Abstract]
Total debt securities available for sale	20	71
Fair Value, Measurements, Recurring [Member] | Significant Other Observable inputs (Level 2) [Member] | Commercial MBS [Member]
Assets [Abstract]
Total debt securities available for sale	3,993	4,137
Fair Value, Measurements, Recurring [Member] | Significant Other Observable inputs (Level 2) [Member] | CMO [Member]
Assets [Abstract]
Total debt securities available for sale	31,000	38,918
Fair Value, Measurements, Recurring [Member] | Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Total debt securities available for sale	0	0
Interest rate swaps	0	0
Total assets measured on a recurring basis	0	0
Fair Value, Measurements, Recurring [Member] | Unobservable Inputs (Level 3) [Member] | Equity Securities [Member]
Assets [Abstract]
Equity securities	0	0
Fair Value, Measurements, Recurring [Member] | Unobservable Inputs (Level 3) [Member] | Residential MBS [Member]
Assets [Abstract]
Total debt securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Unobservable Inputs (Level 3) [Member] | Commercial MBS [Member]
Assets [Abstract]
Total debt securities available for sale	0	0
Fair Value, Measurements, Recurring [Member] | Unobservable Inputs (Level 3) [Member] | CMO [Member]
Assets [Abstract]
Total debt securities available for sale	$ 0	$ 0

Fair Value Measurements, Asse_2

Fair Value Measurements, Assets Recorded at Fair Value on a Non-Recurring Basis (Details) - Nonrecurring [Member] - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Assets Measured at Fair Value on Nonrecurring Basis [Abstract]
Impaired loans	$ 1,033	$ 1,056
Real estate owned	636	1,564
Total	1,669	2,620
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets Measured at Fair Value on Nonrecurring Basis [Abstract]
Impaired loans	0	0
Real estate owned	0	0
Total	0	0
Significant Other Observable inputs (Level 2) [Member]
Assets Measured at Fair Value on Nonrecurring Basis [Abstract]
Impaired loans	0	0
Real estate owned	0	0
Total	0	0
Unobservable Inputs (Level 3) [Member]
Assets Measured at Fair Value on Nonrecurring Basis [Abstract]
Impaired loans	1,033	1,056
Real estate owned	636	1,564
Total	1,669	2,620
Other Commercial Real Estate [Member]
Assets Measured at Fair Value on Nonrecurring Basis [Abstract]
Impaired loans	1,033	1,056
Real estate owned	636	1,564
Other Commercial Real Estate [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets Measured at Fair Value on Nonrecurring Basis [Abstract]
Impaired loans	0	0
Real estate owned	0	0
Other Commercial Real Estate [Member] | Significant Other Observable inputs (Level 2) [Member]
Assets Measured at Fair Value on Nonrecurring Basis [Abstract]
Impaired loans	0	0
Real estate owned	0	0
Other Commercial Real Estate [Member] | Unobservable Inputs (Level 3) [Member]
Assets Measured at Fair Value on Nonrecurring Basis [Abstract]
Impaired loans	1,033	1,056
Real estate owned	$ 636	$ 1,564

Fair Value Measurements, Estima

Fair Value Measurements, Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jun. 30, 2018
Carrying Amount [Member]
Financial assets [Abstract]
Debt securities held to maturity	$ 335,579	$ 335,374
Loans, net	3,495,388	3,540,903
Financial liabilities [Abstract]
Time deposits	1,242,330	1,211,531
Term borrowings	493,775	497,372
Fair Value [Member]
Financial assets [Abstract]
Debt securities held to maturity	333,066	326,511
Loans, net	3,448,659	3,470,434
Financial liabilities [Abstract]
Time deposits	1,249,862	1,219,558
Term borrowings	491,500	486,278
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Financial assets [Abstract]
Debt securities held to maturity	0	0
Loans, net	0	0
Financial liabilities [Abstract]
Time deposits	0	0
Term borrowings	0	0
Significant Other Observable inputs (Level 2) [Member]
Financial assets [Abstract]
Debt securities held to maturity	333,066	326,511
Loans, net	0	0
Financial liabilities [Abstract]
Time deposits	1,249,862	1,219,558
Term borrowings	491,500	486,278
Unobservable Inputs (Level 3) [Member]
Financial assets [Abstract]
Debt securities held to maturity	0	0
Loans, net	3,448,659	3,470,434
Financial liabilities [Abstract]
Time deposits	0	0
Term borrowings	$ 0	$ 0

Other Comprehensive Income, Com

Other Comprehensive Income, Components of Comprehensive Income both Gross and Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Gross [Abstract]
Net income	$ 16,063	$ 18,172	$ 52,473	$ 55,293
Other comprehensive income [Abstract]
Change in unrealized holding gain (loss) on debt securities available for sale	225	(423)	466	(1,065)
Reclassification adjustment for security loss included in net income	0	0	0	324
Amortization related to post-retirement obligations	8	9	25	27
Net change in unrealized (loss) gain on interest rate swaps	(4,096)	5,513	(9,750)	8,562
Total other comprehensive (loss) income	(3,863)	5,099	(9,259)	7,848
Total comprehensive income	12,200	23,271	43,214	63,141
Tax applicable to [Abstract]
Net income	3,613	4,747	13,197	25,902
Other comprehensive income [Abstract]
Change in unrealized holding gain (loss) on debt securities available for sale	66	(125)	148	(402)
Reclassification adjustment for security loss included in net income	0	0	0	140
Amortization related to post-retirement obligations	2	4	5	12
Net change in unrealized (loss) gain on interest rate swaps	(1,198)	1,694	(2,859)	3,006
Total other comprehensive (loss) income	(1,130)	1,573	(2,706)	2,756
Total comprehensive income	2,483	6,320	10,491	28,658
Net of tax [Abstract]
Net income	12,450	13,425	39,276	29,391
Other comprehensive income [Abstract]
Change in unrealized holding gain (loss) on debt securities available for sale	159	(298)	318	(663)
Reclassification adjustment for security loss included in net income	0	0	0	184
Amortization related to post-retirement obligations	6	5	20	15
Net change in unrealized (loss) gain on interest rate swaps	(2,898)	3,819	(6,891)	5,556
Total other comprehensive (loss) income	(2,733)	3,526	(6,553)	5,092
Total comprehensive income	$ 9,717	$ 16,951	$ 32,723	$ 34,483

Other Comprehensive Income, C_2

Other Comprehensive Income, Components of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Balance	$ 527,055	$ 547,545	$ 559,346	$ 559,223
Net change	(2,733)	3,526	(6,553)	5,092
Balance	530,717	554,632	530,717	554,632
ASU 2016-01 [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Reclassification due to the adoption of ASU	0		0
ASU 2018-02 [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Reclassification due to the adoption of ASU		0		0
Accumulated Other Comprehensive Income (Loss), Net of Tax [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Balance	6,745	5,086	11,223	3,520
Net change			(6,553)	5,092
Balance	4,012	9,712	4,012	9,712
Accumulated Other Comprehensive Income (Loss), Net of Tax [Member] | ASU 2016-01 [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Reclassification due to the adoption of ASU	(658)		(658)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Member] | ASU 2018-02 [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Reclassification due to the adoption of ASU		1,100		1,100
Unrealized Holding (Loss) Gain on Debt Securities Available for Sale [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Balance			(86)	438
Net change			318	(479)
Balance	(426)	(4)	(426)	(4)
Unrealized Holding (Loss) Gain on Debt Securities Available for Sale [Member] | ASU 2016-01 [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Reclassification due to the adoption of ASU	(658)		(658)
Unrealized Holding (Loss) Gain on Debt Securities Available for Sale [Member] | ASU 2018-02 [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Reclassification due to the adoption of ASU		37		37
Post Retirement Obligations [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Balance			(314)	(569)
Net change			20	15
Balance	(294)	(667)	(294)	(667)
Post Retirement Obligations [Member] | ASU 2016-01 [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Reclassification due to the adoption of ASU	0		0
Post Retirement Obligations [Member] | ASU 2018-02 [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Reclassification due to the adoption of ASU		(113)		(113)
Unrealized Holding Gain (Loss) on Interest Rate Swap [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Balance			11,623	3,651
Net change			(6,891)	5,556
Balance	4,732	10,383	4,732	10,383
Unrealized Holding Gain (Loss) on Interest Rate Swap [Member] | ASU 2016-01 [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Reclassification due to the adoption of ASU	$ 0		$ 0
Unrealized Holding Gain (Loss) on Interest Rate Swap [Member] | ASU 2018-02 [Member]
Changes in components of accumulated other comprehensive income (loss), net of tax [Roll Forward]
Reclassification due to the adoption of ASU		$ 1,176		$ 1,176

Other Comprehensive Income, Inf

Other Comprehensive Income, Information about the Amount of Reclassification from Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") into Income [Abstract][Abstract]
Net loss on sale of debt securities available for sale		$ 0	$ 0	$ 0	$ 324
Other expenses		1,423	1,681	6,903	4,690
Total before tax		16,063	18,172	52,473	55,293
Income tax benefit		3,613	4,747	13,197	25,902
Net income		12,450	13,425	39,276	29,391
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") into Income [Abstract][Abstract]
Total before tax		8	9	25	351
Income tax benefit		2	4	5	152
Net income		6	5	20	199
Reclassification Adjustment for Security Losses Included in Net Income [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") into Income [Abstract][Abstract]
Net loss on sale of debt securities available for sale		0	0	0	324
Net Loss [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") into Income [Abstract][Abstract]
Other expenses	[1]	$ 8	$ 9	$ 25	$ 27
[1]	These accumulated other comprehensive income (loss) components are included in the computations of net periodic benefit cost. See Note 5. Postretirement Benefits.

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Fees and Service Charges for Customer Services [Abstract]
Fees and service charges	$ 405	$ 371	$ 1,044	$ 1,010
Bank owned life insurance	594	603	1,828	1,879
Gains (Losses) on sale of OREO	0	0	855	(2)
Change in fair value of equity securities	87	0	(187)	0
Net losses on sale of debt securities available for sale	0	0	0	(324)
Other income	9	7	18	16
Total non-interest income	1,095	981	3,558	2,579
Service Charges on Deposits [Member]
Fees and Service Charges for Customer Services [Abstract]
Fees and service charges	127	120	385	370
ATM and Card Interchange Fees [Member]
Fees and Service Charges for Customer Services [Abstract]
Fees and service charges	121	123	388	372
Service Charges on Loans [Member]
Fees and Service Charges for Customer Services [Abstract]
Fees and service charges	$ 157	$ 128	$ 271	$ 268

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2018
Recent Accounting Pronouncements [Abstract]
Compensation and employee benefits	$ 5,958	$ 6,277	$ 17,470	$ 19,619
Other expenses	$ 1,423	1,681	$ 6,903	4,690
ASU 2016-01 [Member]
Recent Accounting Pronouncements [Abstract]
Cumulative effect adjustment for equity instruments to the balance sheet					$ 658
ASU 2017-07 [Member]
Recent Accounting Pronouncements [Abstract]
Compensation and employee benefits		(349)		(1,047)
Other expenses		$ 349		$ 1,047