Cover
Cover - shares | 9 Months Ended | |
Mar. 31, 2022 | May 04, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-35593 | |
Entity Registrant Name | HOMETRUST BANCSHARES, INC. | |
Entity Incorporation, State or Country Code | MD | |
Entity Tax Identification Number | 45-5055422 | |
Entity Address, Address Line One | 10 Woodfin Street | |
Entity Address, City or Town | Asheville | |
Entity Address, State or Province | NC | |
Entity Address, Postal Zip Code | 28801 | |
City Area Code | 828 | |
Local Phone Number | 259-3939 | |
Title of 12(b) Security | Common Stock, par value $.01 per share | |
Trading Symbol | HTBI | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 15,720,503 | |
Entity Central Index Key | 0001538263 | |
Current Fiscal Year End Date | --06-30 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Assets | ||
Cash | $ 19,783 | $ 22,312 |
Interest-bearing deposits | 32,267 | 28,678 |
Cash and cash equivalents | 52,050 | 50,990 |
Commercial paper | 312,918 | 189,596 |
Certificates of deposit in other banks | 28,125 | 40,122 |
Debt securities available for sale, at fair value (amortized cost of $108,130 and $154,493 at March 31, 2022 and June 30, 2021, respectively) | 106,315 | 156,459 |
Other investments, at cost | 23,040 | 23,710 |
Loans held for sale | 85,263 | 93,539 |
Total loans, net of deferred loan fees and costs | 2,699,538 | 2,733,267 |
Allowance for credit losses on loans | (31,034) | (35,468) |
Loans, net | 2,668,504 | 2,697,799 |
Premises and equipment, net | 69,629 | 70,909 |
Accrued interest receivable | 7,980 | 7,933 |
REO | 0 | 188 |
Deferred income taxes, net | 12,494 | 16,901 |
BOLI | 94,740 | 93,108 |
Goodwill | 25,638 | 25,638 |
Core deposit intangibles, net | 135 | 343 |
Other assets | 54,954 | 57,488 |
Total Assets | 3,541,785 | 3,524,723 |
Liabilities | ||
Deposits | 3,059,157 | 2,955,541 |
Borrowings | 30,000 | 115,000 |
Other liabilities | 57,497 | 57,663 |
Total liabilities | 3,146,654 | 3,128,204 |
Stockholders' equity | ||
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued or outstanding | 0 | 0 |
Common stock, $0.01 par value, 60,000,000 shares authorized, 15,978,262 shares issued and outstanding at March 31, 2022; 16,636,483 at June 30, 2021 | 160 | 167 |
Additional paid in capital | 136,181 | 160,582 |
Retained earnings | 265,609 | 240,075 |
Unearned ESOP shares | (5,422) | (5,819) |
Accumulated other comprehensive income (loss) | (1,397) | 1,514 |
Total stockholders' equity | 395,131 | 396,519 |
Total liabilities and stockholders' equity | $ 3,541,785 | $ 3,524,723 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Statement of Financial Position [Abstract] | ||
Debt securities available for sale, at fair value, amortized cost | $ 108,130 | $ 154,493 |
Preferred stock par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock authorized shares | 10,000,000 | 10,000,000 |
Preferred stock issued shares | 0 | 0 |
Preferred stock shares outstanding | 0 | 0 |
Common stock par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock shares authorized | 60,000,000 | 60,000,000 |
Common stock shares issued | 15,978,262 | 16,636,483 |
Common stock shares outstanding | 15,978,262 | 16,636,483 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Interest and dividend income | ||||
Loans | $ 26,616 | $ 27,629 | $ 81,440 | $ 84,564 |
Commercial paper and interest-bearing deposits | 563 | 611 | 1,362 | 2,106 |
Debt securities available for sale | 384 | 496 | 1,319 | 1,528 |
Other investments | 632 | 585 | 1,867 | 1,729 |
Total interest and dividend income | 28,195 | 29,321 | 85,988 | 89,927 |
Interest expense | ||||
Deposits | 1,151 | 1,996 | 4,028 | 7,596 |
Borrowings | 4 | 1,632 | 45 | 5,007 |
Total interest expense | 1,155 | 3,628 | 4,073 | 12,603 |
Net interest income | 27,040 | 25,693 | 81,915 | 77,324 |
Total provision (benefit) for credit losses | (45) | (4,100) | (4,005) | (6,180) |
Net interest income after provision (benefit) for credit losses | 27,085 | 29,793 | 85,920 | 83,504 |
Noninterest income | ||||
Service charges and fees on deposit accounts | 2,216 | 2,194 | 7,101 | 6,707 |
Loan income and fees | 752 | 636 | 2,536 | 1,679 |
Gain on sale of loans held for sale | 2,969 | 4,881 | 10,927 | 11,929 |
BOLI income | 492 | 508 | 1,500 | 1,551 |
Operating lease income | 1,661 | 1,432 | 4,920 | 4,107 |
Other | 857 | 1,027 | 2,496 | 2,688 |
Total noninterest income | 8,947 | 10,678 | 29,480 | 28,661 |
Noninterest expense | ||||
Salaries and employee benefits | 14,730 | 15,784 | 44,882 | 46,691 |
Occupancy expense, net | 2,483 | 2,456 | 7,201 | 7,010 |
Computer services | 2,455 | 2,581 | 7,148 | 7,108 |
Telephone, postage, and supplies | 686 | 812 | 2,133 | 2,345 |
Marketing and advertising | 573 | 319 | 2,110 | 971 |
Deposit insurance premiums | 412 | 363 | 1,280 | 1,361 |
REO related expense, net | 220 | 84 | 478 | 462 |
Core deposit intangible amortization | 50 | 165 | 208 | 605 |
Prepayment penalties on borrowings | 0 | 3,656 | 0 | 3,656 |
Other | 4,190 | 4,286 | 12,285 | 12,740 |
Total noninterest expense | 25,799 | 30,506 | 77,725 | 82,949 |
Net income before income taxes | 10,233 | 9,965 | 37,675 | 29,216 |
Income tax expense | 2,210 | 2,096 | 8,047 | 6,133 |
Net income | $ 8,023 | $ 7,869 | $ 29,628 | $ 23,083 |
Net income per common share: | ||||
Basic (in dollars per share) | $ 0.51 | $ 0.49 | $ 1.87 | $ 1.42 |
Diluted (in dollars per share) | $ 0.51 | $ 0.48 | $ 1.84 | $ 1.40 |
Average shares outstanding: | ||||
Basic (in shares) | 15,523,813 | 15,979,590 | 15,666,093 | 16,139,059 |
Diluted (in shares) | 15,793,012 | 16,485,718 | 15,997,377 | 16,339,130 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 8,023 | $ 7,869 | $ 29,628 | $ 23,083 |
Other comprehensive loss | ||||
Losses arising during the period | (2,595) | (839) | (3,781) | (724) |
Deferred income tax benefit | 598 | 193 | 870 | 166 |
Total other comprehensive loss | (1,997) | (646) | (2,911) | (558) |
Comprehensive income | $ 6,026 | $ 7,223 | $ 26,717 | $ 22,525 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Total | Cumulative-effect adjustment due to the adoption of ASU 2016-13 | Common Stock | Additional Paid In Capital | Retained Earnings | Retained EarningsCumulative-effect adjustment due to the adoption of ASU 2016-13 | Unearned ESOP Shares | Accumulated Other Comprehensive Income |
Balance at beginning of period (in shares) at Jun. 30, 2020 | 17,021,357 | |||||||
Balance at beginning of period at Jun. 30, 2020 | $ 408,263 | $ (13,358) | $ 170 | $ 169,648 | $ 242,776 | $ (13,358) | $ (6,348) | $ 2,017 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 23,083 | 23,083 | ||||||
Cash dividends declared on common stock | (3,734) | (3,734) | ||||||
Shares repurchased (in shares) | (566,455) | |||||||
Common stock repurchased | (11,723) | $ (6) | (11,717) | |||||
Forfeited restricted stock (in shares) | (6,575) | |||||||
Retired stock (in shares) | (9,106) | |||||||
Retired stock | $ (204) | (204) | ||||||
Granted restricted stock (in shares) | 43,260 | |||||||
Exercised stock options (in shares) | 172,866 | 172,866 | ||||||
Exercised stock options | $ 2,490 | $ 3 | 2,487 | |||||
Share-based compensation expense | 1,449 | 1,449 | ||||||
ESOP compensation expense | 744 | 347 | 397 | |||||
Other comprehensive income (loss) | (558) | (558) | ||||||
Balance at end of period (in shares) at Mar. 31, 2021 | 16,655,347 | |||||||
Balance at end of period at Mar. 31, 2021 | 406,452 | $ 167 | 162,010 | 248,767 | (5,951) | 1,459 | ||
Balance at beginning of period (in shares) at Dec. 31, 2020 | 16,791,027 | |||||||
Balance at beginning of period at Dec. 31, 2020 | 404,724 | $ 168 | 166,352 | 242,182 | (6,083) | 2,105 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 7,869 | 7,869 | ||||||
Cash dividends declared on common stock | (1,284) | (1,284) | ||||||
Shares repurchased (in shares) | (289,333) | |||||||
Common stock repurchased | (6,544) | $ (3) | (6,541) | |||||
Retired stock (in shares) | (8,473) | |||||||
Retired stock | (195) | (195) | ||||||
Granted restricted stock (in shares) | 43,260 | |||||||
Exercised stock options (in shares) | 118,866 | |||||||
Exercised stock options | 1,714 | $ 2 | 1,712 | |||||
Share-based compensation expense | 489 | 489 | ||||||
ESOP compensation expense | 325 | 193 | 132 | |||||
Other comprehensive income (loss) | (646) | (646) | ||||||
Balance at end of period (in shares) at Mar. 31, 2021 | 16,655,347 | |||||||
Balance at end of period at Mar. 31, 2021 | $ 406,452 | $ 167 | 162,010 | 248,767 | (5,951) | 1,459 | ||
Balance at beginning of period (in shares) at Jun. 30, 2021 | 16,636,483 | 16,636,483 | ||||||
Balance at beginning of period at Jun. 30, 2021 | $ 396,519 | $ 167 | 160,582 | 240,075 | (5,819) | 1,514 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 29,628 | 29,628 | ||||||
Cash dividends declared on common stock | (4,094) | (4,094) | ||||||
Shares repurchased (in shares) | (1,095,763) | |||||||
Common stock repurchased | (32,318) | $ (11) | (32,307) | |||||
Forfeited restricted stock (in shares) | (12,000) | |||||||
Retired stock (in shares) | (11,335) | |||||||
Retired stock | $ (345) | (345) | ||||||
Granted restricted stock (in shares) | 40,123 | |||||||
Stock issued for RSUs (in shares) | 7,118 | |||||||
Exercised stock options (in shares) | 413,636 | 413,636 | ||||||
Exercised stock options | $ 6,081 | $ 4 | 6,077 | |||||
Share-based compensation expense | 1,407 | 1,407 | ||||||
ESOP compensation expense | 1,164 | 767 | 397 | |||||
Other comprehensive income (loss) | $ (2,911) | (2,911) | ||||||
Balance at end of period (in shares) at Mar. 31, 2022 | 15,978,262 | 15,978,262 | ||||||
Balance at end of period at Mar. 31, 2022 | $ 395,131 | $ 160 | 136,181 | 265,609 | (5,422) | (1,397) | ||
Balance at beginning of period (in shares) at Dec. 31, 2021 | 16,303,461 | |||||||
Balance at beginning of period at Dec. 31, 2021 | 401,746 | $ 163 | 147,552 | 258,986 | (5,555) | 600 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net income | 8,023 | 8,023 | ||||||
Cash dividends declared on common stock | (1,400) | (1,400) | ||||||
Shares repurchased (in shares) | (419,931) | |||||||
Common stock repurchased | (12,915) | $ (4) | (12,911) | |||||
Forfeited restricted stock (in shares) | (2,600) | |||||||
Retired stock (in shares) | (8,627) | |||||||
Retired stock | (270) | (270) | ||||||
Granted restricted stock (in shares) | 40,123 | |||||||
Exercised stock options (in shares) | 65,836 | |||||||
Exercised stock options | 1,039 | $ 1 | 1,038 | |||||
Share-based compensation expense | 507 | 507 | ||||||
ESOP compensation expense | 398 | 265 | 133 | |||||
Other comprehensive income (loss) | $ (1,997) | (1,997) | ||||||
Balance at end of period (in shares) at Mar. 31, 2022 | 15,978,262 | 15,978,262 | ||||||
Balance at end of period at Mar. 31, 2022 | $ 395,131 | $ 160 | $ 136,181 | $ 265,609 | $ (5,422) | $ (1,397) |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Statement of Stockholders' Equity [Abstract] | ||||
Common stock, dividends, declared (in dollars per share) | $ 90 | $ 80 | $ 260 | $ 230 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Operating activities: | ||
Net income | $ 29,628 | $ 23,083 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision (benefit) for credit losses | (4,005) | (6,180) |
Depreciation and amortization | 7,107 | 7,042 |
Deferred income tax expense | 5,277 | 3,600 |
Net accretion of purchase accounting adjustments on loans | (1,283) | (1,559) |
Net amortization and accretion | 1,582 | 916 |
Prepayment penalties paid on borrowings | 0 | 3,656 |
Impairment on assets held for sale | 87 | 0 |
Loss (gain) on sale of REO | 7 | (49) |
BOLI income | (1,500) | (1,551) |
Gain on sale of loans held for sale | (10,927) | (11,929) |
Origination of loans held for sale | (387,252) | (464,173) |
Proceeds from sale of loans held for sale | 402,161 | 443,380 |
New deferred loan origination fees, net | (640) | (541) |
Decrease (increase) in accrued interest receivable and other assets | (3,595) | 1,238 |
ESOP compensation expense | 1,164 | 744 |
Share-based compensation expense | 1,407 | 1,449 |
Increase (decrease) in other liabilities | (971) | 2,552 |
Net cash provided by operating activities | 38,247 | 1,678 |
Investing activities: | ||
Purchases of debt securities available for sale | (9,762) | (95,636) |
Proceeds from maturities, calls and paydowns of debt securities available for sale | 55,600 | 59,021 |
Purchases of commercial paper | (463,446) | (519,781) |
Proceeds from maturities and calls of commercial paper | 340,999 | 586,862 |
Purchases of CDs in other banks | (996) | (4,930) |
Proceeds from maturities of CDs in other banks | 12,993 | 18,604 |
Net redemptions of other investments, at cost | 670 | 10,047 |
Net decrease in loans | 39,394 | 103,407 |
Purchase of BOLI | (132) | (139) |
Purchase of equipment for operating leases | (2,888) | (7,877) |
Payoff of equipment for operating leases | 5,981 | 65 |
Purchase of premises and equipment | (6,043) | (15,095) |
Proceeds from sale of assets held for sale | 2,322 | 0 |
Proceeds from sale of REO | 181 | 352 |
Net cash provided by (used in) investing activities | (25,127) | 134,900 |
Financing activities: | ||
Net increase in deposits | 103,616 | 122,722 |
Net decrease in short-term borrowings | (115,000) | 0 |
Proceeds from long-term borrowings | 60,000 | 0 |
Repayment of long-term borrowings | (30,000) | (203,656) |
Common stock repurchased | (32,318) | (11,723) |
Cash dividends paid | (4,094) | (3,734) |
Retired stock | (345) | (204) |
Exercised stock options | 6,081 | 2,490 |
Net cash used in financing activities | (12,060) | (94,105) |
Net increase in cash and cash equivalents | 1,060 | 42,473 |
Cash and cash equivalents at beginning of period | 50,990 | 121,622 |
Cash and cash equivalents at end of period | 52,050 | 164,095 |
Cash paid during the period for: | ||
Interest | 4,080 | 13,302 |
Income taxes | 269 | 472 |
Noncash transactions: | ||
Unrealized loss in value of debt securities available for sale, net of income taxes | (2,911) | (558) |
Transfer of loans to REO | 0 | 108 |
Transfer of loans held for sale to loans held for investment | 19,032 | 14,702 |
Transfer of loans held for investment to loans held for sale | 12,827 | 0 |
ROU asset and lease liabilities for operating lease accounting | 1,186 | 599 |
Transfer of premises and equipment to assets held for sale (included in other assets) | $ 3,229 | $ 0 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies The consolidated financial statements presented in this report include the accounts of HomeTrust Bancshares, Inc., a Maryland corporation ("HomeTrust"), and its wholly-owned subsidiary, HomeTrust Bank (the "Bank"). As used throughout this report, the term the "Company" refers to HomeTrust and the Bank, its consolidated subsidiary, unless the context otherwise requires. The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the SEC. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. It is recommended that these unaudited interim consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended June 30, 2021 ("2021 Form 10-K") filed with the SEC on September 10, 2021. The results of operations for the nine months ended March 31, 2022 are not necessarily indicative of results that may be expected for the entire fiscal year ending June 30, 2022. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company's accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions, and other subjective assessments. In particular, management has identified the determination of the provision and the allowance for credit losses on loans as an accounting policy that, due to the judgments, estimates and assumptions inherent in this policy, is critical to an understanding of the Company's financial statements. This policy and the related judgments, estimates and assumptions is described in greater detail in the notes to the Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations (Critical Accounting Policies) in the 2021 Form 10-K. Management believes that the judgments, estimates and assumptions used in the preparation of the financial statements are appropriate based on the factual circumstances at the time. However, given the sensitivity of the financial statements to this critical accounting policy, the use of other judgments, estimates and assumptions could result in material differences in the Company's results of operations or financial condition. Further, subsequent changes in economic or market conditions could have a material impact on this estimate and the Company's financial condition and operating results in future periods. The COVID-19 pandemic has caused significant, unprecedented disruption around the world that has affected daily living and negatively impacted the global economy. The effects of the COVID-19 pandemic may meaningfully impact significant estimates such as the allowance for credit losses or certain loan concentrations in the hospitality and healthcare industries. See "Note 6 - Loans and Allowance for Credit Losses on Loans" for more information on loans that have been modified or are in deferral due to COVID-19. Reclassifications and corrections. To maintain consistency and comparability, certain amounts from prior periods have been reclassified to conform to current period presentation with no effect on net income or stockholders’ equity as previously reported. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Mar. 31, 2022 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Newly Issued but Not Yet Effective Accounting Standards ASU 2021-05, "Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments." This ASU amends the lease classification requirements for lessors to classify as an operating lease any lease that would otherwise be classified as a sales-type or direct financing lease that would result in the recognition of a day-one loss at lease commencement, provided that the lease includes variable lease payments that do not depend on an index or rate. When a lease is classified as operating, the lessor does not recognize a net investment in the lease, does not derecognize the underlying asset and therefore, does not recognize a selling profit or loss. The amendments in this ASU are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years and early adoption is permitted. The Company is currently evaluating the impact of adopting the new guidance on the consolidated financial statements. ASU 2022-02, "Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures." This ASU eliminates the TDR recognition and measurement guidance and requires that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. The amendment also adjusts the disclosures related to modifications and requires entities to disclose current-period gross write-offs by year of origination within the existing vintage disclosures. The amendments in this ASU are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years and early adoption is permitted. The Company is currently evaluating the impact of adopting the new guidance on the consolidated financial statements. |
Debt Securities
Debt Securities | 9 Months Ended |
Mar. 31, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Debt Securities | Debt Securities Debt securities available for sale consist of the following at the dates indicated: March 31, 2022 Amortized Gross Gross Estimated U.S. government agencies $ 18,988 $ 34 $ (446) $ 18,576 MBS, residential 34,641 86 (664) 34,063 Municipal bonds 5,558 109 — 5,667 Corporate bonds 48,943 22 (956) 48,009 Total $ 108,130 $ 251 $ (2,066) $ 106,315 June 30, 2021 Amortized Gross Gross Estimated U.S. government agencies $ 18,975 $ 135 $ (37) $ 19,073 MBS, residential 42,119 1,339 (54) 43,404 Municipal bonds 9,098 453 — 9,551 Corporate bonds 84,301 257 (127) 84,431 Total $ 154,493 $ 2,184 $ (218) $ 156,459 Debt securities available for sale by contractual maturity at March 31, 2022 and June 30, 2021 are shown below. MBS are not included in the maturity categories because the borrowers in the underlying pools may prepay without penalty; therefore, it is unlikely that the securities will pay at their stated maturity schedule. March 31, 2022 Amortized Estimated Due within one year $ 33,546 $ 33,497 Due after one year through five years 33,384 32,322 Due after five years through ten years 6,559 6,433 Due after ten years — — MBS, residential 34,641 34,063 Total $ 108,130 $ 106,315 June 30, 2021 Amortized Estimated Due within one year $ 34,615 $ 34,684 Due after one year through five years 73,249 73,633 Due after five years through ten years 4,510 4,738 Due after ten years — — MBS, residential 42,119 43,404 Total $ 154,493 $ 156,459 The Company had no sales of debt securities available for sale during the three and nine months ended March 31, 2022 and 2021. There were no gross realized gains or losses for the three and nine months ended March 31, 2022 and 2021. Debt securities available for sale with amortized costs totaling $53,266 and $52,603 and market values of $52,350 and $53,897 at March 31, 2022 and June 30, 2021, respectively, were pledged as collateral to secure various public deposits and other borrowings. The gross unrealized losses and the fair value for debt securities available for sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2022 and June 30, 2021 were as follows: March 31, 2022 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. government agencies $ 14,554 $ (446) $ — $ — $ 14,554 $ (446) MBS, residential 21,093 (546) 2,290 (118) 23,383 (664) Corporate bonds 23,888 (265) 14,309 (691) 38,197 (956) Total $ 59,535 $ (1,257) $ 16,599 $ (809) $ 76,134 $ (2,066) June 30, 2021 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. government agencies $ 14,963 $ (37) $ — $ — $ 14,963 $ (37) MBS, residential 5,212 (28) 1,205 (26) 6,417 (54) Corporate bonds 19,873 (127) — — 19,873 (127) Total $ 40,048 $ (192) $ 1,205 $ (26) $ 41,253 $ (218) The total number of securities with unrealized losses at March 31, 2022 and June 30, 2021 were 124 and 28, respectively. Management evaluates securities for impairment where there has been a decline in fair value below the amortized cost basis of a security to determine whether there is a credit loss associated with the decline in fair value on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. All debt securities available for sale in an unrealized loss position as of March 31, 2022 continue to perform as scheduled and management does not believe that there is a credit loss or that a provision for credit losses is necessary. Also, as part of management's evaluation of its intent and ability to hold investments for a period of time sufficient to allow for any anticipated recovery in the market, management considers its investment strategy, cash flow needs, liquidity position, capital adequacy and interest rate risk position. Management does not currently intend to sell the securities within the portfolio and it is not more-likely-than-not that securities will be required to be sold. See "Note 1 – Summary of Significant Account Policies" in our 2021 Form 10-K for further discussion. Management continues to monitor all of its securities with a high degree of scrutiny. There can be no assurance that management will not conclude in future periods that conditions existing at that time indicate some or all of its securities may be sold or would require a charge to earnings as a provision for credit losses in such periods. Management excludes the accrued interest receivable balance from the amortized cost basis in measuring expected credit losses on investment securities and does not record an allowance for credit losses on accrued interest receivable. As of March 31, 2022, the accrued interest receivable for debt securities available for sale was $353. |
Other Investments
Other Investments | 9 Months Ended |
Mar. 31, 2022 | |
Investments, All Other Investments [Abstract] | |
Other Investments | Other Investments Other investments, at cost, consist of the following at the dates indicated: March 31, 2022 June 30, 2021 FHLB of Atlanta stock $ 3,038 $ 6,153 FRB stock 7,413 7,386 SBIC investments 12,589 10,171 Total $ 23,040 $ 23,710 |
Loans Held For Sale
Loans Held For Sale | 9 Months Ended |
Mar. 31, 2022 | |
Receivables [Abstract] | |
Loans Held For Sale | Loans Held For Sale Loans held for sale as of the dates indicated consist of the following: March 31, 2022 June 30, 2021 One-to-four family $ 14,647 $ 31,873 SBA 8,105 4,160 HELOCs - originated 62,511 57,506 Total $ 85,263 $ 93,539 |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses on Loans | 9 Months Ended |
Mar. 31, 2022 | |
Receivables [Abstract] | |
Loans and Allowance for Credit Losses on Loans | Loans and Allowance for Credit Losses on Loans Loans consist of the following at the dates indicated: March 31, 2022 June 30, 2021 Commercial loans: Commercial real estate $ 1,102,184 $ 1,142,276 Construction and development 251,668 179,427 Commercial and industrial 167,342 141,341 Equipment finance 378,629 317,920 Municipal finance 130,260 140,421 PPP loans 2,756 46,650 Total commercial loans 2,032,839 1,968,035 Retail consumer loans: One-to-four family 347,945 406,549 HELOCs - originated 128,445 130,225 HELOCs - purchased 26,911 38,976 Construction and land/lots 72,735 66,027 Indirect auto finance 83,903 115,093 Consumer 6,760 8,362 Total retail consumer loans 666,699 765,232 Total loans, net of deferred loan fees and costs 2,699,538 2,733,267 Allowance for credit losses on loans (31,034) (35,468) Loans, net $ 2,668,504 $ 2,697,799 _________________________________________________________________ (1) At March 31, 2022 and June 30, 2021 accrued interest receivable of $7,427 and $7,339 was accounted for separately from the amortized cost basis. All qualifying one-to-four family first mortgage loans, HELOCs, commercial real estate loans, and FHLB of Atlanta stock are pledged as collateral by a blanket pledge to secure any outstanding FHLB advances. Loans are monitored for credit quality on a recurring basis and the composition of the loans outstanding by credit quality indicator is provided below. Loan credit quality indicators are developed through review of individual borrowers on an ongoing basis. Generally, loans are monitored for performance on a quarterly basis with the credit quality indicators adjusted as needed. The indicators represent the rating for loans as of the date presented based on the most recent assessment performed. These credit quality indicators are defined as follows: Pass —A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification. Special Mention —A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification. Substandard —A substandard asset is inadequately protected by the current net worth and paying capacity of the obligor, or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected. Doubtful —An asset classified doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, on the basis of currently existing facts, conditions, and values. Loss —Assets classified loss are considered uncollectible and of such little value that their continuing to be carried as an asset is not warranted. This classification is not necessarily equivalent to no potential for recovery or salvage value, but rather that it is not appropriate to defer a full write-off even though partial recovery may be effected in the future. The following table presents the credit risk profile by risk grade for commercial loans by origination year: Term Loans By Origination Fiscal Year March 31, 2022 2022 2021 2020 2019 2018 Prior Revolving Total Commercial real estate Risk rating: Pass $ 135,883 $ 218,034 $ 162,102 $ 115,537 $ 119,739 $ 293,512 $ 23,238 $ 1,068,045 Special mention 730 — 401 432 15,377 13,410 — 30,350 Substandard — — — — 592 2,800 397 3,789 Doubtful — — — — — — — — Loss — — — — — — — — Total commercial real estate $ 136,613 $ 218,034 $ 162,503 $ 115,969 $ 135,708 $ 309,722 $ 23,635 $ 1,102,184 Construction and development Risk rating: Pass $ 26,859 $ 15,907 $ 2,241 $ 2,687 $ 4,530 $ 5,932 $ 187,373 $ 245,529 Special mention — — — — — 186 4,715 4,901 Substandard 906 — — — — 332 — 1,238 Doubtful — — — — — — — — Loss — — — — — — — — Total construction and development $ 27,765 $ 15,907 $ 2,241 $ 2,687 $ 4,530 $ 6,450 $ 192,088 $ 251,668 Commercial and industrial Risk rating: Pass $ 43,193 $ 21,537 $ 11,960 $ 11,645 $ 7,136 $ 22,202 $ 43,889 $ 161,562 Special mention — 104 — — — 94 97 295 Substandard — 670 347 860 — 53 3,555 5,485 Doubtful — — — — — — — — Loss — — — — — — — — Total commercial and industrial $ 43,193 $ 22,311 $ 12,307 $ 12,505 $ 7,136 $ 22,349 $ 47,541 $ 167,342 Equipment finance Risk rating: Pass $ 142,026 $ 125,396 $ 75,126 $ 32,142 $ 2,278 $ — $ — $ 376,968 Special mention 366 74 572 294 — — — 1,306 Substandard — — 49 156 — — — 205 Doubtful — — — 150 — — — 150 Loss — — — — — — — — Total equipment finance $ 142,392 $ 125,470 $ 75,747 $ 32,742 $ 2,278 $ — $ — $ 378,629 Municipal leases Risk rating: Pass $ 16,684 $ 24,550 $ 9,262 $ 11,768 $ 14,370 $ 42,005 $ 11,584 $ 130,223 Special mention — 37 — — — — — 37 Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total municipal leases $ 16,684 $ 24,587 $ 9,262 $ 11,768 $ 14,370 $ 42,005 $ 11,584 $ 130,260 PPP loans Risk rating: Pass $ — $ 2,255 $ 501 $ — $ — $ — $ — $ 2,756 Special mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total PPP loans $ — $ 2,255 $ 501 $ — $ — $ — $ — $ 2,756 Total commercial loans Risk rating: Pass $ 364,645 $ 407,679 $ 261,192 $ 173,779 $ 148,053 $ 363,651 $ 266,084 $ 1,985,083 Special mention 1,096 215 973 726 15,377 13,690 4,812 36,889 Substandard 906 670 396 1,016 592 3,185 3,952 10,717 Doubtful — — — 150 — — — 150 Loss — — — — — — — — Total commercial loans $ 366,647 $ 408,564 $ 262,561 $ 175,671 $ 164,022 $ 380,526 $ 274,848 $ 2,032,839 The following table presents the credit risk profile by risk grade for retail consumer loans by origination year: Term Loans By Origination Fiscal Year March 31, 2022 2022 2021 2020 2019 2018 Prior Revolving Total One-to-four family Risk rating: Pass $ 40,621 $ 68,486 $ 48,195 $ 31,537 $ 25,273 $ 123,383 $ 2,770 $ 340,265 Special mention — — — — — 858 — 858 Substandard 128 — 1,013 540 434 4,243 — 6,358 Doubtful — — — — — 157 — 157 Loss — — — — — 307 — 307 Total one-to-four family $ 40,749 $ 68,486 $ 49,208 $ 32,077 $ 25,707 $ 128,948 $ 2,770 $ 347,945 HELOCs - originated Risk rating: Pass $ 627 $ 997 $ 286 $ 1,229 $ 227 $ 7,901 $ 116,176 $ 127,443 Special mention — — — — — 9 — 9 Substandard — 16 — — — 927 50 993 Doubtful — — — — — — — — Loss — — — — — — — — Total HELOCs - originated $ 627 $ 1,013 $ 286 $ 1,229 $ 227 $ 8,837 $ 116,226 $ 128,445 HELOCs - purchased Risk rating: Pass $ — $ — $ — $ — $ — $ — $ 26,278 $ 26,278 Special mention — — — — — — — — Substandard — — — — — — 633 633 Doubtful — — — — — — — — Loss — — — — — — — — Total HELOCs - purchased $ — $ — $ — $ — $ — $ — $ 26,911 $ 26,911 Construction and land/lots Risk rating: Pass $ 1,373 $ 13,510 $ 1,691 $ 53 $ — $ 1,967 $ 53,757 $ 72,351 Special mention — — — — — — — — Substandard — — — — — 384 — 384 Doubtful — — — — — — — — Loss — — — — — — — — Total construction and land/lots $ 1,373 $ 13,510 $ 1,691 $ 53 $ — $ 2,351 $ 53,757 $ 72,735 Indirect auto finance Risk rating: Pass $ 19,476 $ 22,276 $ 17,783 $ 9,522 $ 10,238 $ 3,529 $ — $ 82,824 Special mention — 0 — — — — — — — Substandard 62 195 321 136 250 115 — 1,079 Doubtful — — — — — — — — Loss — — — — — — — — Total indirect auto finance $ 19,538 $ 22,471 $ 18,104 $ 9,658 $ 10,488 $ 3,644 $ — $ 83,903 Consumer Risk rating: Pass $ 572 $ 954 $ 653 $ 4,036 $ 118 $ 101 $ 257 $ 6,691 Special mention — — — — — — — — Substandard — 8 — 19 10 18 14 69 Doubtful — — — — — — — — Loss — — — — — — — — Total consumer $ 572 $ 962 $ 653 $ 4,055 $ 128 $ 119 $ 271 $ 6,760 Total retail consumer loans Risk rating: Pass $ 62,669 $ 106,223 $ 68,608 $ 46,377 $ 35,856 $ 136,881 $ 199,238 $ 655,852 Special mention — — — — — 867 — 867 Substandard 190 219 1,334 695 694 5,687 697 9,516 Doubtful — — — — — 157 — 157 Loss — — — — — 307 — 307 Total retail consumer loans $ 62,859 $ 106,442 $ 69,942 $ 47,072 $ 36,550 $ 143,899 $ 199,935 $ 666,699 The following table presents the credit risk profile by risk grade for commercial loans by origination year: Term Loans By Origination Fiscal Year June 30, 2021 2021 2020 2019 2018 2017 Prior Revolving Total Commercial real estate Risk rating: Pass $ 227,850 $ 177,691 $ 142,407 $ 158,147 $ 158,525 $ 220,834 $ 25,860 $ 1,111,314 Special mention — — — 16,951 1,256 3,092 — 21,299 Substandard — — — 630 4,993 3,642 398 9,663 Doubtful — — — — — — — — Loss — — — — — — — — Total commercial real estate $ 227,850 $ 177,691 $ 142,407 $ 175,728 $ 164,774 $ 227,568 $ 26,258 $ 1,142,276 Construction and development Risk rating: Pass 18,262 6,523 10,349 6,008 2,693 7,153 123,843 $ 174,831 Special mention — — — — — 286 3,827 4,113 Substandard — — — — — 482 — 482 Doubtful — — — — — — — — Loss — — — — — 1 — 1 Total construction and development $ 18,262 $ 6,523 $ 10,349 $ 6,008 $ 2,693 $ 7,922 $ 127,670 $ 179,427 Commercial and industrial Risk rating: Pass 29,606 14,010 18,826 10,759 15,346 10,589 36,165 $ 135,301 Special mention — 21 438 110 32 125 37 763 Substandard 31 33 300 — — 83 4,829 5,276 Doubtful — — — — — — — — Loss — — — — — 1 — 1 Total commercial and industrial $ 29,637 $ 14,064 $ 19,564 $ 10,869 $ 15,378 $ 10,798 $ 41,031 $ 141,341 Equipment finance Risk rating: Pass 154,685 104,681 53,178 4,773 — — — $ 317,317 Special mention — — — — — — — — Substandard — — 323 — — — — 323 Doubtful — — 280 — — — — 280 Loss — — — — — — — — Total equipment finance $ 154,685 $ 104,681 $ 53,781 $ 4,773 $ — $ — $ — $ 317,920 Municipal leases Risk rating: Pass 23,358 19,240 14,005 17,979 9,738 47,144 8,700 $ 140,164 Special mention — — — — — 257 — 257 Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total municipal leases $ 23,358 $ 19,240 $ 14,005 $ 17,979 $ 9,738 $ 47,401 $ 8,700 $ 140,421 PPP loans Risk rating: Pass 29,667 16,983 — — — — — $ 46,650 Special mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total PPP loans $ 29,667 $ 16,983 $ — $ — $ — $ — $ — $ 46,650 Total commercial loans Risk rating: Pass $ 483,428 $ 339,128 $ 238,765 $ 197,666 $ 186,302 $ 285,720 $ 194,568 $ 1,925,577 Special mention — 21 438 17,061 1,288 3,760 3,864 26,432 Substandard 31 33 623 630 4,993 4,207 5,227 15,744 Doubtful — — 280 — — — — 280 Loss — — — — — 2 — 2 Total commercial loans $ 483,459 $ 339,182 $ 240,106 $ 215,357 $ 192,583 $ 293,689 $ 203,659 $ 1,968,035 The following table presents the credit risk profile by risk grade for retail consumer loans by origination year: Term Loans By Origination Fiscal Year June 30, 2021 2021 2020 2019 2018 2017 Prior Revolving Total One-to-four family Risk rating: Pass $ 72,723 $ 52,987 $ 46,958 $ 40,461 $ 37,361 $ 143,531 $ 4,345 $ 398,366 Special mention — — — — 27 1,084 — 1,111 Substandard 246 981 — 216 86 5,037 — 6,566 Doubtful — — — — — 191 — 191 Loss — — — — — 315 — 315 Total one-to-four family $ 72,969 $ 53,968 $ 46,958 $ 40,677 $ 37,474 $ 150,158 $ 4,345 $ 406,549 HELOCs - originated Risk rating: Pass 2,767 465 1,294 217 716 9,469 114,048 $ 128,976 Special mention — — — — — 12 — 12 Substandard — — 159 — 38 935 105 1,237 Doubtful — — — — — — — — Loss — — — — — — — — Total HELOCs - originated $ 2,767 $ 465 $ 1,453 $ 217 $ 754 $ 10,416 $ 114,153 $ 130,225 HELOCs - purchased Risk rating: Pass — — — — — — 38,523 $ 38,523 Special mention — — — — — — — — Substandard — — — — — — 453 453 Doubtful — — — — — — — — Loss — — — — — — — — Total HELOCs - purchased $ — $ — $ — $ — $ — $ — $ 38,976 $ 38,976 Construction and land/lots Risk rating: Pass 4,244 12,133 2,357 956 — 3,558 42,267 $ 65,515 Special mention — — — — — — — — Substandard — — — 96 — 416 — 512 Doubtful — — — — — — — — Loss — — — — — — — — Total construction and land/lots $ 4,244 $ 12,133 $ 2,357 $ 1,052 $ — $ 3,974 $ 42,267 $ 66,027 Indirect auto finance Risk rating: Pass 42,128 27,134 16,224 18,853 7,561 2,061 — $ 113,961 Special mention — — — — — — — — Substandard 29 415 195 273 143 75 — 1,130 Doubtful — — — — — — — — Loss 2 — — — — — — 2 Total indirect auto finance $ 42,159 $ 27,549 $ 16,419 $ 19,126 $ 7,704 $ 2,136 $ — $ 115,093 Consumer Risk rating: Pass 1,344 1,019 5,204 252 90 91 288 $ 8,288 Special mention — — — 14 — — — 14 Substandard — 3 19 11 4 10 11 58 Doubtful — — — — — — — — Loss — 1 1 — — — — 2 Total consumer $ 1,344 $ 1,023 $ 5,224 $ 277 $ 94 $ 101 $ 299 $ 8,362 Total retail consumer loans Risk rating: Pass $ 123,206 $ 93,738 $ 72,037 $ 60,739 $ 45,728 $ 158,710 $ 199,471 $ 753,629 Special mention — — — 14 27 1,096 — 1,137 Substandard 275 1,399 373 596 271 6,473 569 9,956 Doubtful — — — — — 191 — 191 Loss 2 1 1 — — 315 — 319 Total retail consumer loans $ 123,483 $ 95,138 $ 72,411 $ 61,349 $ 46,026 $ 166,785 $ 200,040 $ 765,232 The following tables present aging analysis of past due loans (includes nonaccrual loans) by segment and class for the periods indicated below: Past Due Total 30-89 Days 90 Days+ Total Current Loans March 31, 2022 Commercial loans: Commercial real estate $ — $ 247 $ 247 $ 1,101,937 $ 1,102,184 Construction and development — 246 246 251,422 251,668 Commercial and industrial — 67 67 167,275 167,342 Equipment finance 65 33 98 378,531 378,629 Municipal finance — — — 130,260 130,260 PPP loans — — — 2,756 2,756 Retail consumer loans: One-to-four family 347 1,329 1,676 346,269 347,945 HELOCs - originated 28 178 206 128,239 128,445 HELOCs - purchased 142 — 142 26,769 26,911 Construction and land/lots — 140 140 72,595 72,735 Indirect auto finance 307 156 463 83,440 83,903 Consumer 24 38 62 6,698 6,760 Total loans $ 913 $ 2,434 $ 3,347 $ 2,696,191 $ 2,699,538 Past Due Total 30-89 Days 90 Days+ Total Current Loans June 30, 2021 Commercial loans: Commercial real estate $ 396 $ 1,680 $ 2,076 $ 1,140,200 $ 1,142,276 Construction and development — 37 37 179,390 179,427 Commercial and industrial 634 19 653 140,688 141,341 Equipment finance — 347 347 317,573 317,920 Municipal finance — — — 140,421 140,421 PPP loans — — — 46,650 46,650 Retail consumer loans: One-to-four family 1,112 1,124 2,236 404,313 406,549 HELOCs - originated 290 186 476 129,749 130,225 HELOCs - purchased 198 79 277 38,699 38,976 Construction and land/lots 6 35 41 65,986 66,027 Indirect auto finance 299 259 558 114,535 115,093 Consumer 378 36 414 7,948 8,362 Total loans $ 3,313 $ 3,802 $ 7,115 $ 2,726,152 $ 2,733,267 The following table presents recorded investment in loans on nonaccrual status, by segment and class, including restructured loans. It also includes interest income recognized on nonaccrual loans for the nine months ended March 31, 2022. March 31, 2022 June 30, 2021 90 Days + & Still Accruing as of March 31, 2022 Nonaccrual With No Allowance as of March 31, 2022 Interest Income Recognized Commercial loans: Commercial real estate $ 1,033 $ 7,015 $ — $ 284 $ 28 Construction and development 332 482 — — 6 Commercial and industrial 919 49 — — 17 Equipment finance 289 630 — — 9 Retail consumer loans: One-to-four family 1,687 2,625 — 540 37 HELOCs - originated 207 476 — — 2 HELOCs - purchased 633 453 — — 19 Construction and land/lots 140 22 — — 2 Indirect auto finance 505 438 — — 17 Consumer 66 416 — — 2 Total loans $ 5,811 $ 12,606 $ — $ 824 $ 139 The decrease in the nonaccrual balance in the above schedule, compared to June 30, 2021 , is mainly due to the payoff of two commercial real estate loan relationships totaling $5.1 million during the nine month period. TDRs are loans which have renegotiated loan terms to assist borrowers who are unable to meet the original terms of their loans. Such modifications to loan terms may include a lower interest rate, a reduction in principal, and/or a longer term to maturity. The above table excludes $10,691 and $11,088 of TDRs that were performing under their restructured payment terms as of March 31, 2022 and June 30, 2021, respectively. The following table presents a breakdown of the provision (benefit) for credit losses included in our Consolidated Statements of Income: Three Months Ended Nine Months Ended March 31, March 31, 2022 2021 2022 2021 Provision (benefit) for credit losses: Loans $ (640) $ (3,970) $ (4,415) $ (6,370) Off-balance-sheet credit exposure 650 (130) 415 10 Commercial paper (55) — (5) 180 Total provision (benefit) for credit losses $ (45) $ (4,100) $ (4,005) $ (6,180) The following tables present analyses of the ACL on loans by segment for the periods indicated below: Three Months Ended Nine Months Ended March 31, 2022 March 31, 2022 Commercial Retail Total Commercial Retail Total Balance at beginning of period $ 22,968 $ 7,965 $ 30,933 $ 24,746 $ 10,722 $ 35,468 Provision (benefit) for credit losses (1,295) 655 (640) (2,058) (2,357) (4,415) Charge-offs (261) (73) (334) (2,011) (179) (2,190) Recoveries 910 165 1,075 1,645 526 2,171 Net (charge-offs) recoveries 649 92 741 (366) 347 (19) Balance at end of period $ 22,322 $ 8,712 $ 31,034 $ 22,322 $ 8,712 $ 31,034 Three Months Ended Nine Months Ended March 31, 2021 March 31, 2021 Commercial Retail Total Commercial Retail Total Balance at beginning of period $ 24,899 $ 14,945 $ 39,844 $ 21,116 $ 6,956 $ 28,072 Impact of adoption ASU 2016-13 — — — 4,073 10,736 14,809 Provision (benefit) for credit losses (1,750) (2,220) (3,970) (1,750) (4,620) (6,370) Charge-offs (107) (318) (425) (1,510) (1,253) (2,763) Recoveries 356 254 610 1,469 842 2,311 Net (charge-offs) recoveries 249 (64) 185 (41) (411) (452) Balance at end of period $ 23,398 $ 12,661 36,059 $ 23,398 $ 12,661 $ 36,059 The following tables present ending balances of loans and the related ACL, by segment and class for the periods indicated below: Allowance for Credit Losses Total Loans Receivable Loans Loans Total Loans Loans Total March 31, 2022 Commercial loans: Commercial real estate $ — $ 9,157 $ 9,157 $ 284 $ 1,101,900 $ 1,102,184 Construction and development — 3,680 3,680 — 251,668 251,668 Commercial and industrial 1,311 1,593 2,904 2,150 165,192 167,342 Equipment finance — 6,284 6,284 — 378,629 378,629 Municipal finance — 297 297 — 130,260 130,260 PPP loans — — — — 2,756 2,756 Retail consumer loans: One-to-four family — 4,400 4,400 2,493 345,452 347,945 HELOCs - originated — 1,409 1,409 — 128,445 128,445 HELOCs - purchased — 295 295 — 26,911 26,911 Construction and land/lots — 903 903 — 72,735 72,735 Indirect auto finance — 1,586 1,586 — 83,903 83,903 Consumer — 119 119 — 6,760 6,760 Total $ 1,311 $ 29,723 $ 31,034 $ 4,927 $ 2,694,611 $ 2,699,538 Allowance for Loan Losses Total Loans Receivable Loans Loans Total Loans Loans Total June 30, 2021 Commercial loans: Commercial real estate $ 456 $ 12,826 $ 13,282 $ 5,729 $ 1,136,547 $ 1,142,276 Construction and development — 1,801 1,801 80 179,347 179,427 Commercial and industrial 9 2,583 2,592 760 140,581 141,341 Equipment finance — 6,537 6,537 275 317,645 317,920 Municipal finance — 534 534 — 140,421 140,421 PPP loans — — — — 46,650 46,650 Retail consumer loans: One-to-four family 2 5,407 5,409 1,977 404,572 406,549 HELOCs - originated — 1,512 1,512 — 130,225 130,225 HELOCs - purchased — 452 452 — 38,976 38,976 Construction and land/lots — 812 812 — 66,027 66,027 Indirect auto finance — 2,367 2,367 — 115,093 115,093 Consumer — 170 170 — 8,362 8,362 Total $ 467 $ 35,001 $ 35,468 $ 8,821 $ 2,724,446 $ 2,733,267 In estimating ECL, ASC 326 prescribes that if foreclosure is probable, a CDA is required to be measured at the fair value of collateral, but as a practical expedient, if foreclosure is not probable, fair value measurement is optional. For those CDA loans measured at the fair value of collateral, a credit loss expense is recorded for loan amounts in excess of fair value. The following tables provide a breakdown between loans identified as CDAs and non-CDAs, by segment and class, and securing collateral, as well as collateral coverage for those loans for the periods indicated below: Type of Collateral and Extent to Which Collateral Secures Financial Assets March 31, 2022 Residential Property Investment Property Commercial Property Business Assets Financial Assets Not Considered Collateral Dependent Total Commercial loans: Commercial real estate $ — $ — $ 282 $ — $ 1,101,902 $ 1,102,184 Construction and development — — — — 251,668 251,668 Commercial and industrial — — — 1,311 166,031 167,342 Equipment finance — — — — 378,629 378,629 Municipal finance — — — — 130,260 130,260 PPP loans — — — — 2,756 2,756 Retail consumer loans: One-to-four family 1,347 — — — 346,598 347,945 HELOCs - originated — — — — 128,445 128,445 HELOCs - purchased — — — — 26,911 26,911 Construction and land/lots — — — — 72,735 72,735 Indirect auto finance — — — — 83,903 83,903 Consumer — — — — 6,760 6,760 Total $ 1,347 $ — $ 282 $ 1,311 $ 2,696,598 $ 2,699,538 Total Collateral Value $ 2,285 $ — $ 288 $ — Type of Collateral and Extent to Which Collateral Secures Financial Assets June 30, 2021 Residential Property Investment Property Commercial Property Business Assets Financial Assets Not Considered Collateral Dependent Total Commercial loans: Commercial real estate $ — $ 3,421 $ 2,308 $ — $ 1,136,547 $ 1,142,276 Construction and development — 80 — — 179,347 179,427 Commercial and industrial — — — 25 141,316 141,341 Equipment finance — — — — 317,920 317,920 Municipal finance — — — — 140,421 140,421 PPP loans — — — — 46,650 46,650 Retail consumer loans: One-to-four family 807 — — — 405,742 406,549 HELOCs - originated — — — — 130,225 130,225 HELOCs - purchased — — — — 38,976 38,976 Construction and land/lots — — — — 66,027 66,027 Indirect auto finance — — — — 115,093 115,093 Consumer — — — — 8,362 8,362 Total $ 807 $ 3,501 $ 2,308 $ 25 $ 2,726,626 $ 2,733,267 Total Collateral Value $ 1,160 $ 3,602 $ 2,723 $ 26 The following table presents a breakdown of the types of concessions made on TDRs by loan class for the period indicated below: Three Months Ended March 31, 2022 2021 Number Pre Post Number Pre Post Other TDRs: Commercial: Commercial and industrial 2 $ 841 $ 835 — $ — $ — Retail consumer: One-to-four family 1 37 37 2 212 212 HELOCs - originated — — — 2 53 74 Indirect auto finance 1 5 5 3 28 32 Total 4 $ 883 $ 877 7 $ 293 $ 318 Nine Months Ended March 31, 2022 2021 Number Pre Post Number Pre Post Below market interest rate: Retail consumer: One-to-four family 1 $ 124 $ 121 — $ — $ — Total below market interest rate 1 124 121 — — — Extended payment terms: Retail consumer: One-to-four family 1 35 35 — — — HELOCs - originated 1 50 50 — — — Total extended payment terms 2 85 85 — — — Other TDRs: Commercial: Commercial real estate — — — 1 4,408 4,407 Commercial and industrial 2 841 835 — — — Retail consumer: One-to-four family 2 93 92 4 269 261 HELOCs - originated 1 18 18 2 53 74 Construction and land/lots — — — 1 225 219 Indirect auto finance 6 89 82 11 150 110 Total other TDRs 11 1,041 1,027 19 5,105 5,071 Total 11 $ 1,250 $ 1,233 19 $ 5,105 $ 5,071 The following table presents loans that were modified as TDRs within the previous 12 months and for which there was a payment default during the periods indicated below: Three Months Ended March 31, 2022 2021 Number of Recorded Number of Recorded Other TDRs: Retail consumer: Indirect auto finance — $ — 1 $ 1 Total — $ — 1 $ 1 Nine Months Ended March 31, 2022 2021 Number of Recorded Number of Recorded Other TDRs: Retail consumer: Indirect auto finance 2 $ 44 2 $ 26 Total 2 $ 44 2 $ 26 Other TDRs include TDRs that have a below market interest rate and extended payment terms. The Company does not typically forgive principal when restructuring troubled debt. In determining the ACL, management considers TDRs for all loan classes, and the subsequent nonperformance in accordance with their modified terms, by measuring a reserve on a loan-by-loan basis based on either the value of the loan's expected future cash flows discounted at the loan's original effective interest rate or on the collateral value, net of the estimated costs of disposal, if the loan is collateral dependent. Off-Balance-Sheet Credit Exposure The Company maintains a separate reserve for credit losses on off-balance-sheet credit exposures, including unfunded loan commitments, which is included in other liabilities on the consolidated balance sheet. The reserve for credit losses on off-balance-sheet credit exposures is adjusted as a provision for credit losses in the consolidated statement of income. The estimate includes consideration of the likelihood that funding will occur and an estimate of ECLs on commitments expected to be funded over its estimated life, utilizing the same models and approaches for the Company's other loan portfolio segments described above, as these unfunded commitments share similar risk characteristics as its loan portfolio segments. The Company has identified the unfunded portion of certain lines of credit as unconditionally cancellable credit exposures, meaning the Company can cancel the unfunded commitment at any time. No credit loss estimate is reported for off-balance-sheet credit exposures that are unconditionally cancellable by the Company or for undrawn amounts under such arrangements that may be drawn prior to the cancellation of the arrangement. At March 31, 2022, the allowance for credit losses on off-balance-sheet credit exposures included in other liabilities was $2,738. Modifications in Response to COVID-19 Beginning in March 2020, the Company began offering short-term loan modifications to assist borrowers during the COVID-19 pandemic. The CARES Act along with a joint agency statement issued by banking agencies and confirmed by FASB staff that short-term modifications made in response to COVID-19 were not considered TDRs; however, the relief offered by the CARES Act ended December 31, 2021. The Bank offered payment and financial relief programs for borrowers impacted by COVID-19. These programs included loan payment deferrals for up to 90 days (which could be renewed for another 90 days under certain circumstances), waived late fees, and suspension of foreclosure proceedings and repossessions. Since March 2020, the Company received numerous requests from borrowers for some type of payment relief; however, the majority of these payment deferrals have ended and borrowers are again making regular loan payments. As of March 31, 2022, the Company had no loans with full principal and interest payment deferrals related to COVID-19 which had been granted prior to January 1, 2022, compared to $107 at June 30, 2021. All loans placed on full payment deferral during the pandemic have come out of deferral and borrowers are either making regular loan payments or interest-only payments. As of March 31, 2022, the Company had $9,605 in commercial loan deferrals on interest-only payments compared to $78,850 at June 30, 2021. |
Net Income per Share
Net Income per Share | 9 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Net Income per Share | Net Income per Share The following is a reconciliation of the numerator and denominator of basic and diluted net income per share of common stock as of the dates indicated: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Numerator: Net income $ 8,023 $ 7,869 $ 29,628 $ 23,083 Allocation of earnings to participating securities (69) (72) (254) (209) Numerator for basic EPS - Net income available to common stockholders $ 7,954 $ 7,797 $ 29,374 $ 22,874 Effect of dilutive securities: Dilutive effect of participating securities — 2 — 2 Numerator for diluted EPS $ 7,954 $ 7,799 $ 29,374 $ 22,876 Denominator: Weighted-average common shares outstanding - basic 15,523,813 15,979,590 15,666,093 16,139,059 Dilutive effect of assumed exercises of stock options 269,199 506,128 331,284 200,071 Weighted-average common shares outstanding - diluted 15,793,012 16,485,718 15,997,377 16,339,130 Net income per share - basic $ 0.51 $ 0.49 $ 1.87 $ 1.42 Net income per share - diluted $ 0.51 $ 0.48 $ 1.84 $ 1.40 |
Equity Incentive Plan
Equity Incentive Plan | 9 Months Ended |
Mar. 31, 2022 | |
Share-based Payment Arrangement [Abstract] | |
Equity Incentive Plan | Equity Incentive Plan The Company provides stock-based awards through the 2013 Omnibus Incentive Plan, which provides for awards of restricted stock, restricted stock units, stock options, stock appreciation rights and cash awards to directors, directors emeritus, officers, employees and advisory directors. The cost of equity-based awards under the 2013 Omnibus Incentive Plan generally is based on the fair value of the awards on their grant date. The maximum number of shares that may be utilized for awards under the plan is 2,962,400, including 2,116,000 for stock options and stock appreciation rights and 846,400 for awards of restricted stock and restricted stock units. Shares of common stock issued under the plan would be issued out of authorized but unissued shares, some or all of which may be repurchased shares. The Company repurchased a number of shares on the open market sufficient to cover awards of restricted stock and restricted stock units available to be granted under the 2013 Omnibus Incentive Plan, for $13,297, at an average cost of $15.71 per share during the year ended June 30, 2013. The table below presents share-based compensation expense and the estimated related tax benefit for stock options and restricted stock for the three and nine months ended March 31, 2022 and 2021, respectively: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Share-based compensation expense $ 507 $ 489 $ 1,407 $ 1,449 Tax benefit 120 115 332 341 The table below presents stock option activity and related information for the nine months ended March 31, 2022 and 2021: Options Weighted- Remaining Aggregate Options outstanding at June 30, 2020 1,615,500 $ 18.12 4.4 $ 1,711 Granted 44,750 22.92 — — Exercised (172,866) 14.40 — — Forfeited (26,900) 25.77 — — Options outstanding at March 31, 2021 1,460,484 $ 18.57 3.9 $ 9,268 Exercisable at March 31, 2021 1,220,734 $ 17.24 3.2 $ 9,152 Non-vested at March 31, 2021 239,750 $ 25.31 7.7 $ 116 Options outstanding at June 30, 2021 1,319,456 $ 19.07 3.9 $ 11,657 Granted 42,850 31.35 — — Exercised (413,636) 14.70 — — Forfeited (20,800) 23.17 — — Options outstanding at March 31, 2022 927,870 $ 21.49 4.3 $ 7,541 Exercisable at March 31, 2022 756,720 $ 20.24 3.5 $ 7,028 Non-vested at March 31, 2022 171,150 $ 26.99 7.7 $ 513 Assumptions used in estimating the fair value of options granted during the nine months ended March 31, 2022 and 2021 are presented below: March 31, 2022 March 31, 2021 Weighted-average volatility 28.02 % 28.30 % Expected dividend yield 1.12 % 1.35 % Risk-free interest rate 1.90 % 0.72 % Expected life (years) 6.5 6.5 Weighted-average fair value of options granted $ 8.68 $ 5.61 At March 31, 2022, the Company had $1,076 of unrecognized compensation expense related to 171,150 stock options originally scheduled to vest over a five-year period. The weighted average period over which compensation cost related to non-vested awards expected to be recognized was 1.8 years at March 31, 2022. At March 31, 2021, the Company had $1,460 of unrecognized compensation expense related to 239,750 stock options originally scheduled to vest over a five-year period. The weighted average period over which compensation cost related to non-vested awards expected to be recognized was 2.0 years at March 31, 2021. The table below presents restricted stock award activity and related information: Restricted Weighted- Aggregate Non-vested at June 30, 2020 144,046 $ 25.89 $ 2,305 Granted 56,547 22.92 — Vested (45,296) 25.17 — Forfeited (7,650) 25.65 — Non-vested at March 31, 2021 147,647 $ 24.98 $ 2,119 Non-vested at June 30, 2021 151,575 $ 25.06 $ 4,229 Granted 49,679 31.35 — Vested (53,744) 25.22 — Forfeited (12,000) 24.90 — Non-vested at March 31, 2022 135,510 $ 27.41 $ 2,817 The table above includes non-vested performance-based restricted stock units totaling 33,218 and 28,852 at March 31, 2022 and 2021, respectively. Each issuance of these stock units is scheduled to vest over 3.0 years assuming the applicable dilutive EPS goals are met. three three |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Mar. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Loan Commitments – Legally binding commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. In the normal course of business, there are various outstanding commitments to extend credit that are not reflected in the consolidated financial statements. At March 31, 2022 and June 30, 2021, respectively, loan commitments (excluding $290,532 and $277,600 of undisbursed portions of construction loans) totaled $95,848 and $123,463 of which $29,156 and $45,270 were variable rate commitments and $66,692 and $78,193 were fixed rate commitments. The fixed rate loans had interest rates ranging from 1.08% to 8.65% at March 31, 2022 and 2.50% to 8.36% at June 30, 2021, and terms ranging from three The Company grants construction and permanent loans collateralized primarily by residential and commercial real estate to customers throughout its primary market areas. In addition, the Company grants equipment financing throughout the United States and municipal financing to customers throughout North and South Carolina. The Company’s loan portfolio can be affected by the general economic conditions within these market areas. Management believes that the Company has no significant concentration of credit in the loan portfolio. Restrictions on Cash – In response to COVID-19, the FRB reduced the reserve requirements to zero on March 15, 2020. Prior to this change the Bank was required by regulation to maintain a varying cash reserve balance with the FRB. Guarantees – Standby letters of credit obligate the Company to meet certain financial obligations of its customers, if, under the contractual terms of the agreement, the customers are unable to do so. The financial standby letters of credit issued by the Company are irrevocable and payment is only guaranteed upon the borrower's failure to perform its obligations to the beneficiary. Total commitments under standby letters of credit as of March 31, 2022 and June 30, 2021 were $17,492 and $8,681, respectively. There was no liability recorded for these letters of credit at March 31, 2022 or June 30, 2021, respectively. Litigation – From time to time, the Company is involved in litigation matters in the ordinary course of business. These proceedings and the associated legal claims are often contested, and the outcome of individual matters is not always predictable. These claims and counter claims typically arise during the course of collection efforts on problem loans or with respect to actions to enforce liens on properties in which the Company holds a security interest. The Company is not a party to any pending legal proceedings that management believes would have a material adverse effect on the Company’s financial condition or results of operations . |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company utilizes fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Debt securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. The Company measures the fair value of loans receivable under the exit price notion. The fair value of nonperforming loans is based on the underlying value of the collateral. Fair Value Hierarchy The Company groups assets at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are: Level 1: Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2: Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3: Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. The methods of determining the fair value of assets and liabilities presented in this note are consistent with the methodologies disclosed in Note 20 of the 2021 Form 10-K. Financial Assets Recorded at Fair Value The following table presents financial assets measured at fair value on a recurring basis at the dates indicated: March 31, 2022 Total Level 1 Level 2 Level 3 U.S government agencies $ 18,576 $ — $ 18,576 $ — MBS, residential 34,063 — 34,063 — Municipal bonds 5,667 — 5,667 — Corporate bonds 48,009 — 48,009 — Total $ 106,315 $ — $ 106,315 $ — June 30, 2021 Total Level 1 Level 2 Level 3 U.S government agencies $ 19,073 $ — $ 19,073 $ — MBS, residential 43,404 — 43,404 — Municipal bonds 9,551 — 9,551 — Corporate bonds 84,431 — 84,431 — Total $ 156,459 $ — $ 156,459 $ — There were no transfers between levels during the nine months ended March 31, 2022 and 2021. The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated: March 31, 2022 Total Level 1 Level 2 Level 3 Collateral dependent loans: Commercial real estate $ — $ — $ — $ — Commercial and industrial 164 — — 164 Total $ 164 $ — $ — $ 164 June 30, 2021 Total Level 1 Level 2 Level 3 Collateral dependent loans: Commercial real estate $ 4,841 $ — $ — $ 4,841 Equipment finance 275 — — 275 Total $ 5,116 $ — $ — $ 5,116 A loan is considered to be collateral dependent when, based on current information and events, the Company expects repayment of the financial assets to be provided substantially through the operation or sale of the collateral and the Company has determined that the borrower is experiencing financial difficulty as of the measurement date. For real estate loans, the fair value of the loan's collateral is determined by a third party appraisal, which is then adjusted for the estimated selling and closing costs related to liquidation of the collateral (typically ranging from 8% to 12% of the appraised value). For this asset class, the actual valuation methods (income, sales comparable, or cost) vary based on the status of the project or property. Additional discounts of 5% to 15% may be applied depending on the age of the appraisals. The unobservable inputs may vary depending on the individual asset with no one of the three methods being the predominant approach. For non-real estate loans, the fair value of the loan's collateral may be determined using an appraisal, net book value per the borrower's financial statements, or aging reports, adjusted or discounted based on management's historical knowledge, changes in market conditions from the time of the valuation, and management's expertise and knowledge of the customer and customer's business. The stated carrying value and estimated fair value amounts of financial instruments as of March 31, 2022 and June 30, 2021, are summarized below: March 31, 2022 Carrying Fair Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 52,050 $ 52,050 $ 52,050 $ — $ — Commercial paper 312,918 312,918 312,918 — — Certificates of deposit in other banks 28,125 28,125 — 28,125 — Debt securities available for sale 106,315 106,315 — 106,315 — Loans held for sale 85,263 86,338 — — 86,338 Loans, net 2,668,504 2,620,750 — — 2,620,750 FHLB stock 3,038 N/A N/A N/A N/A FRB stock 7,413 N/A N/A N/A N/A SBIC investments 12,589 12,589 — — 12,589 Accrued interest receivable 7,980 7,980 — 553 7,427 Liabilities: Noninterest-bearing and NOW accounts 1,356,921 1,356,921 — 1,356,921 — Money market accounts 1,026,595 1,026,595 — 1,026,595 — Savings accounts 232,831 232,831 — 232,831 — Certificates of deposit 442,810 439,407 — 439,407 — Borrowings 30,000 29,997 — 29,997 — Accrued interest payable 45 45 — 45 — June 30, 2021 Carrying Fair Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 50,990 $ 50,990 $ 50,990 $ — $ — Commercial paper 189,596 189,596 189,596 — — Certificates of deposit in other banks 40,122 40,122 — 40,122 — Debt securities available for sale 156,459 156,459 — 156,459 — Loans held for sale 93,539 94,779 — — 94,779 Loans, net 2,697,799 2,668,570 — — 2,668,570 FHLB stock 6,153 N/A N/A N/A N/A FRB stock 7,386 N/A N/A N/A N/A SBIC investments 10,171 10,171 — — 10,171 Accrued interest receivable 7,933 7,933 52 542 7,339 Liabilities: Noninterest-bearing and NOW accounts 1,281,372 1,281,372 — 1,281,372 — Money market accounts 975,001 975,001 — 975,001 — Savings accounts 226,391 226,391 — 226,391 — Certificates of deposit 472,777 474,397 — 474,397 — Borrowings 115,000 115,000 — 115,000 — Accrued interest payable 52 52 — 52 — The Company had off-balance sheet financial commitments, which included approximately $902,187 and $940,249 of commitments to originate loans, undisbursed portions of construction loans, unused lines of credit, and standby letters of credit at March 31, 2022 and June 30, 2021, respectively (see "Note 9 – Commitments and Contingencies"). Since these commitments are based on current rates, the carrying amount approximates the fair value. |
Leases
Leases | 9 Months Ended |
Mar. 31, 2022 | |
Leases [Abstract] | |
Leases | Leases As Lessee - Operating Leases The Company's operating leases primarily include office space and bank branches. Certain leases include one or more options to renew, with renewal terms that can extend the lease term up to 15 additional years. The exercise of lease renewal options is at management's sole discretion. When it is reasonably certain that the Company will exercise its option to renew or extend the lease term, that option is included in estimating the value of the ROU and lease liability. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Most of the Company's lease agreements include periodic rate adjustments for inflation. The depreciable life of ROU assets and leasehold improvements are limited to the shorter of the useful life or the expected lease term. Leases with an initial term of 12 months or less are not recorded on the Company's Consolidated Balance Sheet. The Company recognizes lease expenses for these leases over the lease term. The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities. Supplemental Balance Sheet Information: March 31, 2022 June 30, 2021 ROU assets $ 6,172 $ 5,498 Lease liabilities 6,961 5,926 Weighted-average remaining lease terms (years) 10.78 9.49 Weighted-average discount rate 2.89 % 3.18 % The following schedule summarizes aggregate future minimum lease payments under these operating leases at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 1,573 2023 1,293 2024 847 2025 541 2026 414 Thereafter 3,653 Total undiscounted minimum lease payments 8,321 Less: amount representing interest (1,360) Total lease liability $ 6,961 The following table presents components of operating lease expense for the three and nine months ended March 31, 2022 and 2021: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Operating lease cost (included in occupancy expense, net) $ 347 $ 398 $ 1,215 $ 1,192 Variable lease cost (included in occupancy expense, net) 7 6 13 18 Sublease income (included in other, noninterest income) (60) (33) (154) (147) Total operating lease expense, net $ 294 $ 371 $ 1,074 $ 1,063 As Lessee - Finance Lease The Company currently leases land for one of its branch office locations under a finance lease. The ROU asset for the finance lease totaled $2,052 at March 31, 2022 and June 30, 2021 and is included in other assets. The corresponding lease liability totaled $1,773 and $1,804 at March 31, 2022 and June 30, 2021, respectively, and is included in other liabilities. For the three and nine months ended March 31, 2022, interest expense on the lease liability totaled $23 and $70, respectively. The finance lease has a maturity date of July 2028 and a discount rate of 5.18%. The following schedule summarizes aggregate future minimum lease payments under this finance lease obligation at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 33 2023 134 2024 145 2025 146 2026 146 Thereafter 1,702 Total undiscounted minimum lease payments 2,306 Less: amount representing interest (533) Total lease liability $ 1,773 Supplemental lease cash flow information for the nine months ended March 31, 2022 and 2021: Nine Months Ended March 31, 2022 2021 ROU assets - noncash additions (operating leases) $ 1,186 $ 599 Cash paid for amounts included in the measurement of lease liabilities (operating leases) 1,281 1,632 Cash paid for amounts included in the measurement of lease liabilities (finance leases) 100 100 As Lessor - General The Company leases equipment to commercial end users under operating and finance lease arrangements. The Company's equipment finance leases consist mainly of construction, transportation, medical, and manufacturing equipment. Many of its operating and finance leases offer the lessee the option to purchase the equipment at fair value or for a nominal fixed purchase option; and most of the leases that do not have a nominal purchase option include renewal provisions resulting in some leases continuing beyond initial contractual terms. The Company's leases do not include early termination options, and continued rent payments are due if leased equipment is not returned at the end of the lease. As Lessor - Operating Leases Operating lease income is recognized as a component of noninterest income on a straight-line basis over the lease term. Lease terms range from one June 30, 2021 , respectively. The following table presents total equipment finance operating lease income and depreciation expense for the three and nine months ended March 31, 2022 and 2021: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Operating lease income $ 1,661 $ 1,432 $ 4,920 $ 4,107 Depreciation expense 1,339 1,417 4,221 4,371 The following schedule summarizes aggregate future minimum lease payments to be received at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 1,436 2023 4,989 2024 2,895 2025 889 2026 246 Thereafter 13 Total of future minimum lease payments $ 10,468 As Lessor - Direct Financing Leases Finance lease income is recognized as a component of loan interest income over the lease term. The finance leases are included as a component of the equipment finance class of financing receivables under the commercial loan segment of the loan portfolio. For the three months ended March 31, 2022 and 2021, total interest income on equipment finance leases totaled $763 and $638, respectively. For the nine months ended March 31, 2022 and 2021, total interest income on equipment finance leases totaled $2,275 and $1,736, respectively. The lease receivable component of finance lease net investment included within equipment finance class of financing receivables was $62.6 million and $63.3 million at March 31, 2022 and June 30, 2021 , respectively. The following schedule summarizes aggregate future minimum finance lease payments to be received at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 5,853 2023 21,226 2024 18,262 2025 13,038 2026 8,405 Thereafter 4,299 Total undiscounted minimum lease payments 71,083 Less: amount representing interest (8,476) Total lease receivable $ 62,607 |
Leases | Leases As Lessee - Operating Leases The Company's operating leases primarily include office space and bank branches. Certain leases include one or more options to renew, with renewal terms that can extend the lease term up to 15 additional years. The exercise of lease renewal options is at management's sole discretion. When it is reasonably certain that the Company will exercise its option to renew or extend the lease term, that option is included in estimating the value of the ROU and lease liability. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Most of the Company's lease agreements include periodic rate adjustments for inflation. The depreciable life of ROU assets and leasehold improvements are limited to the shorter of the useful life or the expected lease term. Leases with an initial term of 12 months or less are not recorded on the Company's Consolidated Balance Sheet. The Company recognizes lease expenses for these leases over the lease term. The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities. Supplemental Balance Sheet Information: March 31, 2022 June 30, 2021 ROU assets $ 6,172 $ 5,498 Lease liabilities 6,961 5,926 Weighted-average remaining lease terms (years) 10.78 9.49 Weighted-average discount rate 2.89 % 3.18 % The following schedule summarizes aggregate future minimum lease payments under these operating leases at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 1,573 2023 1,293 2024 847 2025 541 2026 414 Thereafter 3,653 Total undiscounted minimum lease payments 8,321 Less: amount representing interest (1,360) Total lease liability $ 6,961 The following table presents components of operating lease expense for the three and nine months ended March 31, 2022 and 2021: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Operating lease cost (included in occupancy expense, net) $ 347 $ 398 $ 1,215 $ 1,192 Variable lease cost (included in occupancy expense, net) 7 6 13 18 Sublease income (included in other, noninterest income) (60) (33) (154) (147) Total operating lease expense, net $ 294 $ 371 $ 1,074 $ 1,063 As Lessee - Finance Lease The Company currently leases land for one of its branch office locations under a finance lease. The ROU asset for the finance lease totaled $2,052 at March 31, 2022 and June 30, 2021 and is included in other assets. The corresponding lease liability totaled $1,773 and $1,804 at March 31, 2022 and June 30, 2021, respectively, and is included in other liabilities. For the three and nine months ended March 31, 2022, interest expense on the lease liability totaled $23 and $70, respectively. The finance lease has a maturity date of July 2028 and a discount rate of 5.18%. The following schedule summarizes aggregate future minimum lease payments under this finance lease obligation at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 33 2023 134 2024 145 2025 146 2026 146 Thereafter 1,702 Total undiscounted minimum lease payments 2,306 Less: amount representing interest (533) Total lease liability $ 1,773 Supplemental lease cash flow information for the nine months ended March 31, 2022 and 2021: Nine Months Ended March 31, 2022 2021 ROU assets - noncash additions (operating leases) $ 1,186 $ 599 Cash paid for amounts included in the measurement of lease liabilities (operating leases) 1,281 1,632 Cash paid for amounts included in the measurement of lease liabilities (finance leases) 100 100 As Lessor - General The Company leases equipment to commercial end users under operating and finance lease arrangements. The Company's equipment finance leases consist mainly of construction, transportation, medical, and manufacturing equipment. Many of its operating and finance leases offer the lessee the option to purchase the equipment at fair value or for a nominal fixed purchase option; and most of the leases that do not have a nominal purchase option include renewal provisions resulting in some leases continuing beyond initial contractual terms. The Company's leases do not include early termination options, and continued rent payments are due if leased equipment is not returned at the end of the lease. As Lessor - Operating Leases Operating lease income is recognized as a component of noninterest income on a straight-line basis over the lease term. Lease terms range from one June 30, 2021 , respectively. The following table presents total equipment finance operating lease income and depreciation expense for the three and nine months ended March 31, 2022 and 2021: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Operating lease income $ 1,661 $ 1,432 $ 4,920 $ 4,107 Depreciation expense 1,339 1,417 4,221 4,371 The following schedule summarizes aggregate future minimum lease payments to be received at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 1,436 2023 4,989 2024 2,895 2025 889 2026 246 Thereafter 13 Total of future minimum lease payments $ 10,468 As Lessor - Direct Financing Leases Finance lease income is recognized as a component of loan interest income over the lease term. The finance leases are included as a component of the equipment finance class of financing receivables under the commercial loan segment of the loan portfolio. For the three months ended March 31, 2022 and 2021, total interest income on equipment finance leases totaled $763 and $638, respectively. For the nine months ended March 31, 2022 and 2021, total interest income on equipment finance leases totaled $2,275 and $1,736, respectively. The lease receivable component of finance lease net investment included within equipment finance class of financing receivables was $62.6 million and $63.3 million at March 31, 2022 and June 30, 2021 , respectively. The following schedule summarizes aggregate future minimum finance lease payments to be received at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 5,853 2023 21,226 2024 18,262 2025 13,038 2026 8,405 Thereafter 4,299 Total undiscounted minimum lease payments 71,083 Less: amount representing interest (8,476) Total lease receivable $ 62,607 |
Leases | Leases As Lessee - Operating Leases The Company's operating leases primarily include office space and bank branches. Certain leases include one or more options to renew, with renewal terms that can extend the lease term up to 15 additional years. The exercise of lease renewal options is at management's sole discretion. When it is reasonably certain that the Company will exercise its option to renew or extend the lease term, that option is included in estimating the value of the ROU and lease liability. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Most of the Company's lease agreements include periodic rate adjustments for inflation. The depreciable life of ROU assets and leasehold improvements are limited to the shorter of the useful life or the expected lease term. Leases with an initial term of 12 months or less are not recorded on the Company's Consolidated Balance Sheet. The Company recognizes lease expenses for these leases over the lease term. The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities. Supplemental Balance Sheet Information: March 31, 2022 June 30, 2021 ROU assets $ 6,172 $ 5,498 Lease liabilities 6,961 5,926 Weighted-average remaining lease terms (years) 10.78 9.49 Weighted-average discount rate 2.89 % 3.18 % The following schedule summarizes aggregate future minimum lease payments under these operating leases at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 1,573 2023 1,293 2024 847 2025 541 2026 414 Thereafter 3,653 Total undiscounted minimum lease payments 8,321 Less: amount representing interest (1,360) Total lease liability $ 6,961 The following table presents components of operating lease expense for the three and nine months ended March 31, 2022 and 2021: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Operating lease cost (included in occupancy expense, net) $ 347 $ 398 $ 1,215 $ 1,192 Variable lease cost (included in occupancy expense, net) 7 6 13 18 Sublease income (included in other, noninterest income) (60) (33) (154) (147) Total operating lease expense, net $ 294 $ 371 $ 1,074 $ 1,063 As Lessee - Finance Lease The Company currently leases land for one of its branch office locations under a finance lease. The ROU asset for the finance lease totaled $2,052 at March 31, 2022 and June 30, 2021 and is included in other assets. The corresponding lease liability totaled $1,773 and $1,804 at March 31, 2022 and June 30, 2021, respectively, and is included in other liabilities. For the three and nine months ended March 31, 2022, interest expense on the lease liability totaled $23 and $70, respectively. The finance lease has a maturity date of July 2028 and a discount rate of 5.18%. The following schedule summarizes aggregate future minimum lease payments under this finance lease obligation at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 33 2023 134 2024 145 2025 146 2026 146 Thereafter 1,702 Total undiscounted minimum lease payments 2,306 Less: amount representing interest (533) Total lease liability $ 1,773 Supplemental lease cash flow information for the nine months ended March 31, 2022 and 2021: Nine Months Ended March 31, 2022 2021 ROU assets - noncash additions (operating leases) $ 1,186 $ 599 Cash paid for amounts included in the measurement of lease liabilities (operating leases) 1,281 1,632 Cash paid for amounts included in the measurement of lease liabilities (finance leases) 100 100 As Lessor - General The Company leases equipment to commercial end users under operating and finance lease arrangements. The Company's equipment finance leases consist mainly of construction, transportation, medical, and manufacturing equipment. Many of its operating and finance leases offer the lessee the option to purchase the equipment at fair value or for a nominal fixed purchase option; and most of the leases that do not have a nominal purchase option include renewal provisions resulting in some leases continuing beyond initial contractual terms. The Company's leases do not include early termination options, and continued rent payments are due if leased equipment is not returned at the end of the lease. As Lessor - Operating Leases Operating lease income is recognized as a component of noninterest income on a straight-line basis over the lease term. Lease terms range from one June 30, 2021 , respectively. The following table presents total equipment finance operating lease income and depreciation expense for the three and nine months ended March 31, 2022 and 2021: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Operating lease income $ 1,661 $ 1,432 $ 4,920 $ 4,107 Depreciation expense 1,339 1,417 4,221 4,371 The following schedule summarizes aggregate future minimum lease payments to be received at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 1,436 2023 4,989 2024 2,895 2025 889 2026 246 Thereafter 13 Total of future minimum lease payments $ 10,468 As Lessor - Direct Financing Leases Finance lease income is recognized as a component of loan interest income over the lease term. The finance leases are included as a component of the equipment finance class of financing receivables under the commercial loan segment of the loan portfolio. For the three months ended March 31, 2022 and 2021, total interest income on equipment finance leases totaled $763 and $638, respectively. For the nine months ended March 31, 2022 and 2021, total interest income on equipment finance leases totaled $2,275 and $1,736, respectively. The lease receivable component of finance lease net investment included within equipment finance class of financing receivables was $62.6 million and $63.3 million at March 31, 2022 and June 30, 2021 , respectively. The following schedule summarizes aggregate future minimum finance lease payments to be received at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 5,853 2023 21,226 2024 18,262 2025 13,038 2026 8,405 Thereafter 4,299 Total undiscounted minimum lease payments 71,083 Less: amount representing interest (8,476) Total lease receivable $ 62,607 |
Leases | Leases As Lessee - Operating Leases The Company's operating leases primarily include office space and bank branches. Certain leases include one or more options to renew, with renewal terms that can extend the lease term up to 15 additional years. The exercise of lease renewal options is at management's sole discretion. When it is reasonably certain that the Company will exercise its option to renew or extend the lease term, that option is included in estimating the value of the ROU and lease liability. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Most of the Company's lease agreements include periodic rate adjustments for inflation. The depreciable life of ROU assets and leasehold improvements are limited to the shorter of the useful life or the expected lease term. Leases with an initial term of 12 months or less are not recorded on the Company's Consolidated Balance Sheet. The Company recognizes lease expenses for these leases over the lease term. The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities. Supplemental Balance Sheet Information: March 31, 2022 June 30, 2021 ROU assets $ 6,172 $ 5,498 Lease liabilities 6,961 5,926 Weighted-average remaining lease terms (years) 10.78 9.49 Weighted-average discount rate 2.89 % 3.18 % The following schedule summarizes aggregate future minimum lease payments under these operating leases at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 1,573 2023 1,293 2024 847 2025 541 2026 414 Thereafter 3,653 Total undiscounted minimum lease payments 8,321 Less: amount representing interest (1,360) Total lease liability $ 6,961 The following table presents components of operating lease expense for the three and nine months ended March 31, 2022 and 2021: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Operating lease cost (included in occupancy expense, net) $ 347 $ 398 $ 1,215 $ 1,192 Variable lease cost (included in occupancy expense, net) 7 6 13 18 Sublease income (included in other, noninterest income) (60) (33) (154) (147) Total operating lease expense, net $ 294 $ 371 $ 1,074 $ 1,063 As Lessee - Finance Lease The Company currently leases land for one of its branch office locations under a finance lease. The ROU asset for the finance lease totaled $2,052 at March 31, 2022 and June 30, 2021 and is included in other assets. The corresponding lease liability totaled $1,773 and $1,804 at March 31, 2022 and June 30, 2021, respectively, and is included in other liabilities. For the three and nine months ended March 31, 2022, interest expense on the lease liability totaled $23 and $70, respectively. The finance lease has a maturity date of July 2028 and a discount rate of 5.18%. The following schedule summarizes aggregate future minimum lease payments under this finance lease obligation at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 33 2023 134 2024 145 2025 146 2026 146 Thereafter 1,702 Total undiscounted minimum lease payments 2,306 Less: amount representing interest (533) Total lease liability $ 1,773 Supplemental lease cash flow information for the nine months ended March 31, 2022 and 2021: Nine Months Ended March 31, 2022 2021 ROU assets - noncash additions (operating leases) $ 1,186 $ 599 Cash paid for amounts included in the measurement of lease liabilities (operating leases) 1,281 1,632 Cash paid for amounts included in the measurement of lease liabilities (finance leases) 100 100 As Lessor - General The Company leases equipment to commercial end users under operating and finance lease arrangements. The Company's equipment finance leases consist mainly of construction, transportation, medical, and manufacturing equipment. Many of its operating and finance leases offer the lessee the option to purchase the equipment at fair value or for a nominal fixed purchase option; and most of the leases that do not have a nominal purchase option include renewal provisions resulting in some leases continuing beyond initial contractual terms. The Company's leases do not include early termination options, and continued rent payments are due if leased equipment is not returned at the end of the lease. As Lessor - Operating Leases Operating lease income is recognized as a component of noninterest income on a straight-line basis over the lease term. Lease terms range from one June 30, 2021 , respectively. The following table presents total equipment finance operating lease income and depreciation expense for the three and nine months ended March 31, 2022 and 2021: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Operating lease income $ 1,661 $ 1,432 $ 4,920 $ 4,107 Depreciation expense 1,339 1,417 4,221 4,371 The following schedule summarizes aggregate future minimum lease payments to be received at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 1,436 2023 4,989 2024 2,895 2025 889 2026 246 Thereafter 13 Total of future minimum lease payments $ 10,468 As Lessor - Direct Financing Leases Finance lease income is recognized as a component of loan interest income over the lease term. The finance leases are included as a component of the equipment finance class of financing receivables under the commercial loan segment of the loan portfolio. For the three months ended March 31, 2022 and 2021, total interest income on equipment finance leases totaled $763 and $638, respectively. For the nine months ended March 31, 2022 and 2021, total interest income on equipment finance leases totaled $2,275 and $1,736, respectively. The lease receivable component of finance lease net investment included within equipment finance class of financing receivables was $62.6 million and $63.3 million at March 31, 2022 and June 30, 2021 , respectively. The following schedule summarizes aggregate future minimum finance lease payments to be received at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 5,853 2023 21,226 2024 18,262 2025 13,038 2026 8,405 Thereafter 4,299 Total undiscounted minimum lease payments 71,083 Less: amount representing interest (8,476) Total lease receivable $ 62,607 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting | The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the SEC. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. It is recommended that these unaudited interim consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended June 30, 2021 |
Use of Estimates | The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company's accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions, and other subjective assessments. In particular, management has identified the determination of the provision and the allowance for credit losses on loans as an accounting policy that, due to the judgments, estimates and assumptions inherent in this policy, is critical to an understanding of the Company's financial statements. This policy and the related judgments, estimates and assumptions is described in greater detail in the notes to the Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations (Critical Accounting Policies) in the 2021 Form 10-K. Management believes that the judgments, estimates and assumptions used in the preparation of the financial statements are appropriate based on the factual circumstances at the time. However, given the sensitivity of the financial statements to this critical accounting policy, the use of other judgments, estimates and assumptions could result in material differences in the Company's results of operations or financial condition. Further, subsequent changes in economic or market conditions could have a material impact on this estimate and the Company's financial condition and operating results in future periods. |
Reclassifications and corrections | Reclassifications and corrections. To maintain consistency and comparability, certain amounts from prior periods have been reclassified to conform to current period presentation with no effect on net income or stockholders’ equity as previously reported. |
Newly Issued but Not Yet Effective Accounting Standards | Newly Issued but Not Yet Effective Accounting Standards ASU 2021-05, "Leases (Topic 842): Lessors—Certain Leases with Variable Lease Payments." This ASU amends the lease classification requirements for lessors to classify as an operating lease any lease that would otherwise be classified as a sales-type or direct financing lease that would result in the recognition of a day-one loss at lease commencement, provided that the lease includes variable lease payments that do not depend on an index or rate. When a lease is classified as operating, the lessor does not recognize a net investment in the lease, does not derecognize the underlying asset and therefore, does not recognize a selling profit or loss. The amendments in this ASU are effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years and early adoption is permitted. The Company is currently evaluating the impact of adopting the new guidance on the consolidated financial statements. ASU 2022-02, "Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures." This ASU eliminates the TDR recognition and measurement guidance and requires that an entity evaluate whether the modification represents a new loan or a continuation of an existing loan. The amendment also adjusts the disclosures related to modifications and requires entities to disclose current-period gross write-offs by year of origination within the existing vintage disclosures. The amendments in this ASU are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years and early adoption is permitted. The Company is currently evaluating the impact of adopting the new guidance on the consolidated financial statements. |
Debt Securities (Tables)
Debt Securities (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation | Debt securities available for sale consist of the following at the dates indicated: March 31, 2022 Amortized Gross Gross Estimated U.S. government agencies $ 18,988 $ 34 $ (446) $ 18,576 MBS, residential 34,641 86 (664) 34,063 Municipal bonds 5,558 109 — 5,667 Corporate bonds 48,943 22 (956) 48,009 Total $ 108,130 $ 251 $ (2,066) $ 106,315 June 30, 2021 Amortized Gross Gross Estimated U.S. government agencies $ 18,975 $ 135 $ (37) $ 19,073 MBS, residential 42,119 1,339 (54) 43,404 Municipal bonds 9,098 453 — 9,551 Corporate bonds 84,301 257 (127) 84,431 Total $ 154,493 $ 2,184 $ (218) $ 156,459 |
Investments Classified by Contractual Maturity Date | Debt securities available for sale by contractual maturity at March 31, 2022 and June 30, 2021 are shown below. MBS are not included in the maturity categories because the borrowers in the underlying pools may prepay without penalty; therefore, it is unlikely that the securities will pay at their stated maturity schedule. March 31, 2022 Amortized Estimated Due within one year $ 33,546 $ 33,497 Due after one year through five years 33,384 32,322 Due after five years through ten years 6,559 6,433 Due after ten years — — MBS, residential 34,641 34,063 Total $ 108,130 $ 106,315 June 30, 2021 Amortized Estimated Due within one year $ 34,615 $ 34,684 Due after one year through five years 73,249 73,633 Due after five years through ten years 4,510 4,738 Due after ten years — — MBS, residential 42,119 43,404 Total $ 154,493 $ 156,459 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | The gross unrealized losses and the fair value for debt securities available for sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2022 and June 30, 2021 were as follows: March 31, 2022 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. government agencies $ 14,554 $ (446) $ — $ — $ 14,554 $ (446) MBS, residential 21,093 (546) 2,290 (118) 23,383 (664) Corporate bonds 23,888 (265) 14,309 (691) 38,197 (956) Total $ 59,535 $ (1,257) $ 16,599 $ (809) $ 76,134 $ (2,066) June 30, 2021 Less than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized U.S. government agencies $ 14,963 $ (37) $ — $ — $ 14,963 $ (37) MBS, residential 5,212 (28) 1,205 (26) 6,417 (54) Corporate bonds 19,873 (127) — — 19,873 (127) Total $ 40,048 $ (192) $ 1,205 $ (26) $ 41,253 $ (218) |
Other Investments (Tables)
Other Investments (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Investments, All Other Investments [Abstract] | |
Investment | Other investments, at cost, consist of the following at the dates indicated: March 31, 2022 June 30, 2021 FHLB of Atlanta stock $ 3,038 $ 6,153 FRB stock 7,413 7,386 SBIC investments 12,589 10,171 Total $ 23,040 $ 23,710 |
Loans Held For Sale (Tables)
Loans Held For Sale (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Receivables [Abstract] | |
Schedule of Loans Held for Sale | Loans held for sale as of the dates indicated consist of the following: March 31, 2022 June 30, 2021 One-to-four family $ 14,647 $ 31,873 SBA 8,105 4,160 HELOCs - originated 62,511 57,506 Total $ 85,263 $ 93,539 Loans consist of the following at the dates indicated: March 31, 2022 June 30, 2021 Commercial loans: Commercial real estate $ 1,102,184 $ 1,142,276 Construction and development 251,668 179,427 Commercial and industrial 167,342 141,341 Equipment finance 378,629 317,920 Municipal finance 130,260 140,421 PPP loans 2,756 46,650 Total commercial loans 2,032,839 1,968,035 Retail consumer loans: One-to-four family 347,945 406,549 HELOCs - originated 128,445 130,225 HELOCs - purchased 26,911 38,976 Construction and land/lots 72,735 66,027 Indirect auto finance 83,903 115,093 Consumer 6,760 8,362 Total retail consumer loans 666,699 765,232 Total loans, net of deferred loan fees and costs 2,699,538 2,733,267 Allowance for credit losses on loans (31,034) (35,468) Loans, net $ 2,668,504 $ 2,697,799 _________________________________________________________________ (1) At March 31, 2022 and June 30, 2021 accrued interest receivable of $7,427 and $7,339 was accounted for separately from the amortized cost basis. Type of Collateral and Extent to Which Collateral Secures Financial Assets March 31, 2022 Residential Property Investment Property Commercial Property Business Assets Financial Assets Not Considered Collateral Dependent Total Commercial loans: Commercial real estate $ — $ — $ 282 $ — $ 1,101,902 $ 1,102,184 Construction and development — — — — 251,668 251,668 Commercial and industrial — — — 1,311 166,031 167,342 Equipment finance — — — — 378,629 378,629 Municipal finance — — — — 130,260 130,260 PPP loans — — — — 2,756 2,756 Retail consumer loans: One-to-four family 1,347 — — — 346,598 347,945 HELOCs - originated — — — — 128,445 128,445 HELOCs - purchased — — — — 26,911 26,911 Construction and land/lots — — — — 72,735 72,735 Indirect auto finance — — — — 83,903 83,903 Consumer — — — — 6,760 6,760 Total $ 1,347 $ — $ 282 $ 1,311 $ 2,696,598 $ 2,699,538 Total Collateral Value $ 2,285 $ — $ 288 $ — Type of Collateral and Extent to Which Collateral Secures Financial Assets June 30, 2021 Residential Property Investment Property Commercial Property Business Assets Financial Assets Not Considered Collateral Dependent Total Commercial loans: Commercial real estate $ — $ 3,421 $ 2,308 $ — $ 1,136,547 $ 1,142,276 Construction and development — 80 — — 179,347 179,427 Commercial and industrial — — — 25 141,316 141,341 Equipment finance — — — — 317,920 317,920 Municipal finance — — — — 140,421 140,421 PPP loans — — — — 46,650 46,650 Retail consumer loans: One-to-four family 807 — — — 405,742 406,549 HELOCs - originated — — — — 130,225 130,225 HELOCs - purchased — — — — 38,976 38,976 Construction and land/lots — — — — 66,027 66,027 Indirect auto finance — — — — 115,093 115,093 Consumer — — — — 8,362 8,362 Total $ 807 $ 3,501 $ 2,308 $ 25 $ 2,726,626 $ 2,733,267 Total Collateral Value $ 1,160 $ 3,602 $ 2,723 $ 26 |
Loans and Allowance for Credi_2
Loans and Allowance for Credit Losses on Loans (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans held for sale as of the dates indicated consist of the following: March 31, 2022 June 30, 2021 One-to-four family $ 14,647 $ 31,873 SBA 8,105 4,160 HELOCs - originated 62,511 57,506 Total $ 85,263 $ 93,539 Loans consist of the following at the dates indicated: March 31, 2022 June 30, 2021 Commercial loans: Commercial real estate $ 1,102,184 $ 1,142,276 Construction and development 251,668 179,427 Commercial and industrial 167,342 141,341 Equipment finance 378,629 317,920 Municipal finance 130,260 140,421 PPP loans 2,756 46,650 Total commercial loans 2,032,839 1,968,035 Retail consumer loans: One-to-four family 347,945 406,549 HELOCs - originated 128,445 130,225 HELOCs - purchased 26,911 38,976 Construction and land/lots 72,735 66,027 Indirect auto finance 83,903 115,093 Consumer 6,760 8,362 Total retail consumer loans 666,699 765,232 Total loans, net of deferred loan fees and costs 2,699,538 2,733,267 Allowance for credit losses on loans (31,034) (35,468) Loans, net $ 2,668,504 $ 2,697,799 _________________________________________________________________ (1) At March 31, 2022 and June 30, 2021 accrued interest receivable of $7,427 and $7,339 was accounted for separately from the amortized cost basis. Type of Collateral and Extent to Which Collateral Secures Financial Assets March 31, 2022 Residential Property Investment Property Commercial Property Business Assets Financial Assets Not Considered Collateral Dependent Total Commercial loans: Commercial real estate $ — $ — $ 282 $ — $ 1,101,902 $ 1,102,184 Construction and development — — — — 251,668 251,668 Commercial and industrial — — — 1,311 166,031 167,342 Equipment finance — — — — 378,629 378,629 Municipal finance — — — — 130,260 130,260 PPP loans — — — — 2,756 2,756 Retail consumer loans: One-to-four family 1,347 — — — 346,598 347,945 HELOCs - originated — — — — 128,445 128,445 HELOCs - purchased — — — — 26,911 26,911 Construction and land/lots — — — — 72,735 72,735 Indirect auto finance — — — — 83,903 83,903 Consumer — — — — 6,760 6,760 Total $ 1,347 $ — $ 282 $ 1,311 $ 2,696,598 $ 2,699,538 Total Collateral Value $ 2,285 $ — $ 288 $ — Type of Collateral and Extent to Which Collateral Secures Financial Assets June 30, 2021 Residential Property Investment Property Commercial Property Business Assets Financial Assets Not Considered Collateral Dependent Total Commercial loans: Commercial real estate $ — $ 3,421 $ 2,308 $ — $ 1,136,547 $ 1,142,276 Construction and development — 80 — — 179,347 179,427 Commercial and industrial — — — 25 141,316 141,341 Equipment finance — — — — 317,920 317,920 Municipal finance — — — — 140,421 140,421 PPP loans — — — — 46,650 46,650 Retail consumer loans: One-to-four family 807 — — — 405,742 406,549 HELOCs - originated — — — — 130,225 130,225 HELOCs - purchased — — — — 38,976 38,976 Construction and land/lots — — — — 66,027 66,027 Indirect auto finance — — — — 115,093 115,093 Consumer — — — — 8,362 8,362 Total $ 807 $ 3,501 $ 2,308 $ 25 $ 2,726,626 $ 2,733,267 Total Collateral Value $ 1,160 $ 3,602 $ 2,723 $ 26 |
Financing Receivable Credit Quality Indicators | The following table presents the credit risk profile by risk grade for commercial loans by origination year: Term Loans By Origination Fiscal Year March 31, 2022 2022 2021 2020 2019 2018 Prior Revolving Total Commercial real estate Risk rating: Pass $ 135,883 $ 218,034 $ 162,102 $ 115,537 $ 119,739 $ 293,512 $ 23,238 $ 1,068,045 Special mention 730 — 401 432 15,377 13,410 — 30,350 Substandard — — — — 592 2,800 397 3,789 Doubtful — — — — — — — — Loss — — — — — — — — Total commercial real estate $ 136,613 $ 218,034 $ 162,503 $ 115,969 $ 135,708 $ 309,722 $ 23,635 $ 1,102,184 Construction and development Risk rating: Pass $ 26,859 $ 15,907 $ 2,241 $ 2,687 $ 4,530 $ 5,932 $ 187,373 $ 245,529 Special mention — — — — — 186 4,715 4,901 Substandard 906 — — — — 332 — 1,238 Doubtful — — — — — — — — Loss — — — — — — — — Total construction and development $ 27,765 $ 15,907 $ 2,241 $ 2,687 $ 4,530 $ 6,450 $ 192,088 $ 251,668 Commercial and industrial Risk rating: Pass $ 43,193 $ 21,537 $ 11,960 $ 11,645 $ 7,136 $ 22,202 $ 43,889 $ 161,562 Special mention — 104 — — — 94 97 295 Substandard — 670 347 860 — 53 3,555 5,485 Doubtful — — — — — — — — Loss — — — — — — — — Total commercial and industrial $ 43,193 $ 22,311 $ 12,307 $ 12,505 $ 7,136 $ 22,349 $ 47,541 $ 167,342 Equipment finance Risk rating: Pass $ 142,026 $ 125,396 $ 75,126 $ 32,142 $ 2,278 $ — $ — $ 376,968 Special mention 366 74 572 294 — — — 1,306 Substandard — — 49 156 — — — 205 Doubtful — — — 150 — — — 150 Loss — — — — — — — — Total equipment finance $ 142,392 $ 125,470 $ 75,747 $ 32,742 $ 2,278 $ — $ — $ 378,629 Municipal leases Risk rating: Pass $ 16,684 $ 24,550 $ 9,262 $ 11,768 $ 14,370 $ 42,005 $ 11,584 $ 130,223 Special mention — 37 — — — — — 37 Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total municipal leases $ 16,684 $ 24,587 $ 9,262 $ 11,768 $ 14,370 $ 42,005 $ 11,584 $ 130,260 PPP loans Risk rating: Pass $ — $ 2,255 $ 501 $ — $ — $ — $ — $ 2,756 Special mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total PPP loans $ — $ 2,255 $ 501 $ — $ — $ — $ — $ 2,756 Total commercial loans Risk rating: Pass $ 364,645 $ 407,679 $ 261,192 $ 173,779 $ 148,053 $ 363,651 $ 266,084 $ 1,985,083 Special mention 1,096 215 973 726 15,377 13,690 4,812 36,889 Substandard 906 670 396 1,016 592 3,185 3,952 10,717 Doubtful — — — 150 — — — 150 Loss — — — — — — — — Total commercial loans $ 366,647 $ 408,564 $ 262,561 $ 175,671 $ 164,022 $ 380,526 $ 274,848 $ 2,032,839 The following table presents the credit risk profile by risk grade for retail consumer loans by origination year: Term Loans By Origination Fiscal Year March 31, 2022 2022 2021 2020 2019 2018 Prior Revolving Total One-to-four family Risk rating: Pass $ 40,621 $ 68,486 $ 48,195 $ 31,537 $ 25,273 $ 123,383 $ 2,770 $ 340,265 Special mention — — — — — 858 — 858 Substandard 128 — 1,013 540 434 4,243 — 6,358 Doubtful — — — — — 157 — 157 Loss — — — — — 307 — 307 Total one-to-four family $ 40,749 $ 68,486 $ 49,208 $ 32,077 $ 25,707 $ 128,948 $ 2,770 $ 347,945 HELOCs - originated Risk rating: Pass $ 627 $ 997 $ 286 $ 1,229 $ 227 $ 7,901 $ 116,176 $ 127,443 Special mention — — — — — 9 — 9 Substandard — 16 — — — 927 50 993 Doubtful — — — — — — — — Loss — — — — — — — — Total HELOCs - originated $ 627 $ 1,013 $ 286 $ 1,229 $ 227 $ 8,837 $ 116,226 $ 128,445 HELOCs - purchased Risk rating: Pass $ — $ — $ — $ — $ — $ — $ 26,278 $ 26,278 Special mention — — — — — — — — Substandard — — — — — — 633 633 Doubtful — — — — — — — — Loss — — — — — — — — Total HELOCs - purchased $ — $ — $ — $ — $ — $ — $ 26,911 $ 26,911 Construction and land/lots Risk rating: Pass $ 1,373 $ 13,510 $ 1,691 $ 53 $ — $ 1,967 $ 53,757 $ 72,351 Special mention — — — — — — — — Substandard — — — — — 384 — 384 Doubtful — — — — — — — — Loss — — — — — — — — Total construction and land/lots $ 1,373 $ 13,510 $ 1,691 $ 53 $ — $ 2,351 $ 53,757 $ 72,735 Indirect auto finance Risk rating: Pass $ 19,476 $ 22,276 $ 17,783 $ 9,522 $ 10,238 $ 3,529 $ — $ 82,824 Special mention — 0 — — — — — — — Substandard 62 195 321 136 250 115 — 1,079 Doubtful — — — — — — — — Loss — — — — — — — — Total indirect auto finance $ 19,538 $ 22,471 $ 18,104 $ 9,658 $ 10,488 $ 3,644 $ — $ 83,903 Consumer Risk rating: Pass $ 572 $ 954 $ 653 $ 4,036 $ 118 $ 101 $ 257 $ 6,691 Special mention — — — — — — — — Substandard — 8 — 19 10 18 14 69 Doubtful — — — — — — — — Loss — — — — — — — — Total consumer $ 572 $ 962 $ 653 $ 4,055 $ 128 $ 119 $ 271 $ 6,760 Total retail consumer loans Risk rating: Pass $ 62,669 $ 106,223 $ 68,608 $ 46,377 $ 35,856 $ 136,881 $ 199,238 $ 655,852 Special mention — — — — — 867 — 867 Substandard 190 219 1,334 695 694 5,687 697 9,516 Doubtful — — — — — 157 — 157 Loss — — — — — 307 — 307 Total retail consumer loans $ 62,859 $ 106,442 $ 69,942 $ 47,072 $ 36,550 $ 143,899 $ 199,935 $ 666,699 The following table presents the credit risk profile by risk grade for commercial loans by origination year: Term Loans By Origination Fiscal Year June 30, 2021 2021 2020 2019 2018 2017 Prior Revolving Total Commercial real estate Risk rating: Pass $ 227,850 $ 177,691 $ 142,407 $ 158,147 $ 158,525 $ 220,834 $ 25,860 $ 1,111,314 Special mention — — — 16,951 1,256 3,092 — 21,299 Substandard — — — 630 4,993 3,642 398 9,663 Doubtful — — — — — — — — Loss — — — — — — — — Total commercial real estate $ 227,850 $ 177,691 $ 142,407 $ 175,728 $ 164,774 $ 227,568 $ 26,258 $ 1,142,276 Construction and development Risk rating: Pass 18,262 6,523 10,349 6,008 2,693 7,153 123,843 $ 174,831 Special mention — — — — — 286 3,827 4,113 Substandard — — — — — 482 — 482 Doubtful — — — — — — — — Loss — — — — — 1 — 1 Total construction and development $ 18,262 $ 6,523 $ 10,349 $ 6,008 $ 2,693 $ 7,922 $ 127,670 $ 179,427 Commercial and industrial Risk rating: Pass 29,606 14,010 18,826 10,759 15,346 10,589 36,165 $ 135,301 Special mention — 21 438 110 32 125 37 763 Substandard 31 33 300 — — 83 4,829 5,276 Doubtful — — — — — — — — Loss — — — — — 1 — 1 Total commercial and industrial $ 29,637 $ 14,064 $ 19,564 $ 10,869 $ 15,378 $ 10,798 $ 41,031 $ 141,341 Equipment finance Risk rating: Pass 154,685 104,681 53,178 4,773 — — — $ 317,317 Special mention — — — — — — — — Substandard — — 323 — — — — 323 Doubtful — — 280 — — — — 280 Loss — — — — — — — — Total equipment finance $ 154,685 $ 104,681 $ 53,781 $ 4,773 $ — $ — $ — $ 317,920 Municipal leases Risk rating: Pass 23,358 19,240 14,005 17,979 9,738 47,144 8,700 $ 140,164 Special mention — — — — — 257 — 257 Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total municipal leases $ 23,358 $ 19,240 $ 14,005 $ 17,979 $ 9,738 $ 47,401 $ 8,700 $ 140,421 PPP loans Risk rating: Pass 29,667 16,983 — — — — — $ 46,650 Special mention — — — — — — — — Substandard — — — — — — — — Doubtful — — — — — — — — Loss — — — — — — — — Total PPP loans $ 29,667 $ 16,983 $ — $ — $ — $ — $ — $ 46,650 Total commercial loans Risk rating: Pass $ 483,428 $ 339,128 $ 238,765 $ 197,666 $ 186,302 $ 285,720 $ 194,568 $ 1,925,577 Special mention — 21 438 17,061 1,288 3,760 3,864 26,432 Substandard 31 33 623 630 4,993 4,207 5,227 15,744 Doubtful — — 280 — — — — 280 Loss — — — — — 2 — 2 Total commercial loans $ 483,459 $ 339,182 $ 240,106 $ 215,357 $ 192,583 $ 293,689 $ 203,659 $ 1,968,035 The following table presents the credit risk profile by risk grade for retail consumer loans by origination year: Term Loans By Origination Fiscal Year June 30, 2021 2021 2020 2019 2018 2017 Prior Revolving Total One-to-four family Risk rating: Pass $ 72,723 $ 52,987 $ 46,958 $ 40,461 $ 37,361 $ 143,531 $ 4,345 $ 398,366 Special mention — — — — 27 1,084 — 1,111 Substandard 246 981 — 216 86 5,037 — 6,566 Doubtful — — — — — 191 — 191 Loss — — — — — 315 — 315 Total one-to-four family $ 72,969 $ 53,968 $ 46,958 $ 40,677 $ 37,474 $ 150,158 $ 4,345 $ 406,549 HELOCs - originated Risk rating: Pass 2,767 465 1,294 217 716 9,469 114,048 $ 128,976 Special mention — — — — — 12 — 12 Substandard — — 159 — 38 935 105 1,237 Doubtful — — — — — — — — Loss — — — — — — — — Total HELOCs - originated $ 2,767 $ 465 $ 1,453 $ 217 $ 754 $ 10,416 $ 114,153 $ 130,225 HELOCs - purchased Risk rating: Pass — — — — — — 38,523 $ 38,523 Special mention — — — — — — — — Substandard — — — — — — 453 453 Doubtful — — — — — — — — Loss — — — — — — — — Total HELOCs - purchased $ — $ — $ — $ — $ — $ — $ 38,976 $ 38,976 Construction and land/lots Risk rating: Pass 4,244 12,133 2,357 956 — 3,558 42,267 $ 65,515 Special mention — — — — — — — — Substandard — — — 96 — 416 — 512 Doubtful — — — — — — — — Loss — — — — — — — — Total construction and land/lots $ 4,244 $ 12,133 $ 2,357 $ 1,052 $ — $ 3,974 $ 42,267 $ 66,027 Indirect auto finance Risk rating: Pass 42,128 27,134 16,224 18,853 7,561 2,061 — $ 113,961 Special mention — — — — — — — — Substandard 29 415 195 273 143 75 — 1,130 Doubtful — — — — — — — — Loss 2 — — — — — — 2 Total indirect auto finance $ 42,159 $ 27,549 $ 16,419 $ 19,126 $ 7,704 $ 2,136 $ — $ 115,093 Consumer Risk rating: Pass 1,344 1,019 5,204 252 90 91 288 $ 8,288 Special mention — — — 14 — — — 14 Substandard — 3 19 11 4 10 11 58 Doubtful — — — — — — — — Loss — 1 1 — — — — 2 Total consumer $ 1,344 $ 1,023 $ 5,224 $ 277 $ 94 $ 101 $ 299 $ 8,362 Total retail consumer loans Risk rating: Pass $ 123,206 $ 93,738 $ 72,037 $ 60,739 $ 45,728 $ 158,710 $ 199,471 $ 753,629 Special mention — — — 14 27 1,096 — 1,137 Substandard 275 1,399 373 596 271 6,473 569 9,956 Doubtful — — — — — 191 — 191 Loss 2 1 1 — — 315 — 319 Total retail consumer loans $ 123,483 $ 95,138 $ 72,411 $ 61,349 $ 46,026 $ 166,785 $ 200,040 $ 765,232 |
Past Due Financing Receivables | The following tables present aging analysis of past due loans (includes nonaccrual loans) by segment and class for the periods indicated below: Past Due Total 30-89 Days 90 Days+ Total Current Loans March 31, 2022 Commercial loans: Commercial real estate $ — $ 247 $ 247 $ 1,101,937 $ 1,102,184 Construction and development — 246 246 251,422 251,668 Commercial and industrial — 67 67 167,275 167,342 Equipment finance 65 33 98 378,531 378,629 Municipal finance — — — 130,260 130,260 PPP loans — — — 2,756 2,756 Retail consumer loans: One-to-four family 347 1,329 1,676 346,269 347,945 HELOCs - originated 28 178 206 128,239 128,445 HELOCs - purchased 142 — 142 26,769 26,911 Construction and land/lots — 140 140 72,595 72,735 Indirect auto finance 307 156 463 83,440 83,903 Consumer 24 38 62 6,698 6,760 Total loans $ 913 $ 2,434 $ 3,347 $ 2,696,191 $ 2,699,538 Past Due Total 30-89 Days 90 Days+ Total Current Loans June 30, 2021 Commercial loans: Commercial real estate $ 396 $ 1,680 $ 2,076 $ 1,140,200 $ 1,142,276 Construction and development — 37 37 179,390 179,427 Commercial and industrial 634 19 653 140,688 141,341 Equipment finance — 347 347 317,573 317,920 Municipal finance — — — 140,421 140,421 PPP loans — — — 46,650 46,650 Retail consumer loans: One-to-four family 1,112 1,124 2,236 404,313 406,549 HELOCs - originated 290 186 476 129,749 130,225 HELOCs - purchased 198 79 277 38,699 38,976 Construction and land/lots 6 35 41 65,986 66,027 Indirect auto finance 299 259 558 114,535 115,093 Consumer 378 36 414 7,948 8,362 Total loans $ 3,313 $ 3,802 $ 7,115 $ 2,726,152 $ 2,733,267 |
Schedule of Past Due Loans Still Accruing and Nonaccruing Interest | The following table presents recorded investment in loans on nonaccrual status, by segment and class, including restructured loans. It also includes interest income recognized on nonaccrual loans for the nine months ended March 31, 2022. March 31, 2022 June 30, 2021 90 Days + & Still Accruing as of March 31, 2022 Nonaccrual With No Allowance as of March 31, 2022 Interest Income Recognized Commercial loans: Commercial real estate $ 1,033 $ 7,015 $ — $ 284 $ 28 Construction and development 332 482 — — 6 Commercial and industrial 919 49 — — 17 Equipment finance 289 630 — — 9 Retail consumer loans: One-to-four family 1,687 2,625 — 540 37 HELOCs - originated 207 476 — — 2 HELOCs - purchased 633 453 — — 19 Construction and land/lots 140 22 — — 2 Indirect auto finance 505 438 — — 17 Consumer 66 416 — — 2 Total loans $ 5,811 $ 12,606 $ — $ 824 $ 139 |
Breakdown of Provision (Benefit) for Credit Losses | The following table presents a breakdown of the provision (benefit) for credit losses included in our Consolidated Statements of Income: Three Months Ended Nine Months Ended March 31, March 31, 2022 2021 2022 2021 Provision (benefit) for credit losses: Loans $ (640) $ (3,970) $ (4,415) $ (6,370) Off-balance-sheet credit exposure 650 (130) 415 10 Commercial paper (55) — (5) 180 Total provision (benefit) for credit losses $ (45) $ (4,100) $ (4,005) $ (6,180) |
Allowance for Credit Losses on Financing Receivables | The following tables present analyses of the ACL on loans by segment for the periods indicated below: Three Months Ended Nine Months Ended March 31, 2022 March 31, 2022 Commercial Retail Total Commercial Retail Total Balance at beginning of period $ 22,968 $ 7,965 $ 30,933 $ 24,746 $ 10,722 $ 35,468 Provision (benefit) for credit losses (1,295) 655 (640) (2,058) (2,357) (4,415) Charge-offs (261) (73) (334) (2,011) (179) (2,190) Recoveries 910 165 1,075 1,645 526 2,171 Net (charge-offs) recoveries 649 92 741 (366) 347 (19) Balance at end of period $ 22,322 $ 8,712 $ 31,034 $ 22,322 $ 8,712 $ 31,034 Three Months Ended Nine Months Ended March 31, 2021 March 31, 2021 Commercial Retail Total Commercial Retail Total Balance at beginning of period $ 24,899 $ 14,945 $ 39,844 $ 21,116 $ 6,956 $ 28,072 Impact of adoption ASU 2016-13 — — — 4,073 10,736 14,809 Provision (benefit) for credit losses (1,750) (2,220) (3,970) (1,750) (4,620) (6,370) Charge-offs (107) (318) (425) (1,510) (1,253) (2,763) Recoveries 356 254 610 1,469 842 2,311 Net (charge-offs) recoveries 249 (64) 185 (41) (411) (452) Balance at end of period $ 23,398 $ 12,661 36,059 $ 23,398 $ 12,661 $ 36,059 |
Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class | The following tables present ending balances of loans and the related ACL, by segment and class for the periods indicated below: Allowance for Credit Losses Total Loans Receivable Loans Loans Total Loans Loans Total March 31, 2022 Commercial loans: Commercial real estate $ — $ 9,157 $ 9,157 $ 284 $ 1,101,900 $ 1,102,184 Construction and development — 3,680 3,680 — 251,668 251,668 Commercial and industrial 1,311 1,593 2,904 2,150 165,192 167,342 Equipment finance — 6,284 6,284 — 378,629 378,629 Municipal finance — 297 297 — 130,260 130,260 PPP loans — — — — 2,756 2,756 Retail consumer loans: One-to-four family — 4,400 4,400 2,493 345,452 347,945 HELOCs - originated — 1,409 1,409 — 128,445 128,445 HELOCs - purchased — 295 295 — 26,911 26,911 Construction and land/lots — 903 903 — 72,735 72,735 Indirect auto finance — 1,586 1,586 — 83,903 83,903 Consumer — 119 119 — 6,760 6,760 Total $ 1,311 $ 29,723 $ 31,034 $ 4,927 $ 2,694,611 $ 2,699,538 Allowance for Loan Losses Total Loans Receivable Loans Loans Total Loans Loans Total June 30, 2021 Commercial loans: Commercial real estate $ 456 $ 12,826 $ 13,282 $ 5,729 $ 1,136,547 $ 1,142,276 Construction and development — 1,801 1,801 80 179,347 179,427 Commercial and industrial 9 2,583 2,592 760 140,581 141,341 Equipment finance — 6,537 6,537 275 317,645 317,920 Municipal finance — 534 534 — 140,421 140,421 PPP loans — — — — 46,650 46,650 Retail consumer loans: One-to-four family 2 5,407 5,409 1,977 404,572 406,549 HELOCs - originated — 1,512 1,512 — 130,225 130,225 HELOCs - purchased — 452 452 — 38,976 38,976 Construction and land/lots — 812 812 — 66,027 66,027 Indirect auto finance — 2,367 2,367 — 115,093 115,093 Consumer — 170 170 — 8,362 8,362 Total $ 467 $ 35,001 $ 35,468 $ 8,821 $ 2,724,446 $ 2,733,267 |
Troubled Debt Restructurings on Financing Receivables | The following table presents a breakdown of the types of concessions made on TDRs by loan class for the period indicated below: Three Months Ended March 31, 2022 2021 Number Pre Post Number Pre Post Other TDRs: Commercial: Commercial and industrial 2 $ 841 $ 835 — $ — $ — Retail consumer: One-to-four family 1 37 37 2 212 212 HELOCs - originated — — — 2 53 74 Indirect auto finance 1 5 5 3 28 32 Total 4 $ 883 $ 877 7 $ 293 $ 318 Nine Months Ended March 31, 2022 2021 Number Pre Post Number Pre Post Below market interest rate: Retail consumer: One-to-four family 1 $ 124 $ 121 — $ — $ — Total below market interest rate 1 124 121 — — — Extended payment terms: Retail consumer: One-to-four family 1 35 35 — — — HELOCs - originated 1 50 50 — — — Total extended payment terms 2 85 85 — — — Other TDRs: Commercial: Commercial real estate — — — 1 4,408 4,407 Commercial and industrial 2 841 835 — — — Retail consumer: One-to-four family 2 93 92 4 269 261 HELOCs - originated 1 18 18 2 53 74 Construction and land/lots — — — 1 225 219 Indirect auto finance 6 89 82 11 150 110 Total other TDRs 11 1,041 1,027 19 5,105 5,071 Total 11 $ 1,250 $ 1,233 19 $ 5,105 $ 5,071 |
Schedule of Trouble Debt Restructurings With Payment Default | The following table presents loans that were modified as TDRs within the previous 12 months and for which there was a payment default during the periods indicated below: Three Months Ended March 31, 2022 2021 Number of Recorded Number of Recorded Other TDRs: Retail consumer: Indirect auto finance — $ — 1 $ 1 Total — $ — 1 $ 1 Nine Months Ended March 31, 2022 2021 Number of Recorded Number of Recorded Other TDRs: Retail consumer: Indirect auto finance 2 $ 44 2 $ 26 Total 2 $ 44 2 $ 26 |
Net Income per Share (Tables)
Net Income per Share (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following is a reconciliation of the numerator and denominator of basic and diluted net income per share of common stock as of the dates indicated: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Numerator: Net income $ 8,023 $ 7,869 $ 29,628 $ 23,083 Allocation of earnings to participating securities (69) (72) (254) (209) Numerator for basic EPS - Net income available to common stockholders $ 7,954 $ 7,797 $ 29,374 $ 22,874 Effect of dilutive securities: Dilutive effect of participating securities — 2 — 2 Numerator for diluted EPS $ 7,954 $ 7,799 $ 29,374 $ 22,876 Denominator: Weighted-average common shares outstanding - basic 15,523,813 15,979,590 15,666,093 16,139,059 Dilutive effect of assumed exercises of stock options 269,199 506,128 331,284 200,071 Weighted-average common shares outstanding - diluted 15,793,012 16,485,718 15,997,377 16,339,130 Net income per share - basic $ 0.51 $ 0.49 $ 1.87 $ 1.42 Net income per share - diluted $ 0.51 $ 0.48 $ 1.84 $ 1.40 |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The table below presents share-based compensation expense and the estimated related tax benefit for stock options and restricted stock for the three and nine months ended March 31, 2022 and 2021, respectively: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Share-based compensation expense $ 507 $ 489 $ 1,407 $ 1,449 Tax benefit 120 115 332 341 |
Equity Incentive Plan Stock Option Activity | The table below presents stock option activity and related information for the nine months ended March 31, 2022 and 2021: Options Weighted- Remaining Aggregate Options outstanding at June 30, 2020 1,615,500 $ 18.12 4.4 $ 1,711 Granted 44,750 22.92 — — Exercised (172,866) 14.40 — — Forfeited (26,900) 25.77 — — Options outstanding at March 31, 2021 1,460,484 $ 18.57 3.9 $ 9,268 Exercisable at March 31, 2021 1,220,734 $ 17.24 3.2 $ 9,152 Non-vested at March 31, 2021 239,750 $ 25.31 7.7 $ 116 Options outstanding at June 30, 2021 1,319,456 $ 19.07 3.9 $ 11,657 Granted 42,850 31.35 — — Exercised (413,636) 14.70 — — Forfeited (20,800) 23.17 — — Options outstanding at March 31, 2022 927,870 $ 21.49 4.3 $ 7,541 Exercisable at March 31, 2022 756,720 $ 20.24 3.5 $ 7,028 Non-vested at March 31, 2022 171,150 $ 26.99 7.7 $ 513 |
Assumptions Used In Estimating the Fair Value of Options Granted | Assumptions used in estimating the fair value of options granted during the nine months ended March 31, 2022 and 2021 are presented below: March 31, 2022 March 31, 2021 Weighted-average volatility 28.02 % 28.30 % Expected dividend yield 1.12 % 1.35 % Risk-free interest rate 1.90 % 0.72 % Expected life (years) 6.5 6.5 Weighted-average fair value of options granted $ 8.68 $ 5.61 |
Schedule of Nonvested Restricted Stock Units Activity | The table below presents restricted stock award activity and related information: Restricted Weighted- Aggregate Non-vested at June 30, 2020 144,046 $ 25.89 $ 2,305 Granted 56,547 22.92 — Vested (45,296) 25.17 — Forfeited (7,650) 25.65 — Non-vested at March 31, 2021 147,647 $ 24.98 $ 2,119 Non-vested at June 30, 2021 151,575 $ 25.06 $ 4,229 Granted 49,679 31.35 — Vested (53,744) 25.22 — Forfeited (12,000) 24.90 — Non-vested at March 31, 2022 135,510 $ 27.41 $ 2,817 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents financial assets measured at fair value on a recurring basis at the dates indicated: March 31, 2022 Total Level 1 Level 2 Level 3 U.S government agencies $ 18,576 $ — $ 18,576 $ — MBS, residential 34,063 — 34,063 — Municipal bonds 5,667 — 5,667 — Corporate bonds 48,009 — 48,009 — Total $ 106,315 $ — $ 106,315 $ — June 30, 2021 Total Level 1 Level 2 Level 3 U.S government agencies $ 19,073 $ — $ 19,073 $ — MBS, residential 43,404 — 43,404 — Municipal bonds 9,551 — 9,551 — Corporate bonds 84,431 — 84,431 — Total $ 156,459 $ — $ 156,459 $ — |
Fair Value Measurements, Nonrecurring | The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated: March 31, 2022 Total Level 1 Level 2 Level 3 Collateral dependent loans: Commercial real estate $ — $ — $ — $ — Commercial and industrial 164 — — 164 Total $ 164 $ — $ — $ 164 June 30, 2021 Total Level 1 Level 2 Level 3 Collateral dependent loans: Commercial real estate $ 4,841 $ — $ — $ 4,841 Equipment finance 275 — — 275 Total $ 5,116 $ — $ — $ 5,116 |
Fair Value, by Balance Sheet Grouping | The stated carrying value and estimated fair value amounts of financial instruments as of March 31, 2022 and June 30, 2021, are summarized below: March 31, 2022 Carrying Fair Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 52,050 $ 52,050 $ 52,050 $ — $ — Commercial paper 312,918 312,918 312,918 — — Certificates of deposit in other banks 28,125 28,125 — 28,125 — Debt securities available for sale 106,315 106,315 — 106,315 — Loans held for sale 85,263 86,338 — — 86,338 Loans, net 2,668,504 2,620,750 — — 2,620,750 FHLB stock 3,038 N/A N/A N/A N/A FRB stock 7,413 N/A N/A N/A N/A SBIC investments 12,589 12,589 — — 12,589 Accrued interest receivable 7,980 7,980 — 553 7,427 Liabilities: Noninterest-bearing and NOW accounts 1,356,921 1,356,921 — 1,356,921 — Money market accounts 1,026,595 1,026,595 — 1,026,595 — Savings accounts 232,831 232,831 — 232,831 — Certificates of deposit 442,810 439,407 — 439,407 — Borrowings 30,000 29,997 — 29,997 — Accrued interest payable 45 45 — 45 — June 30, 2021 Carrying Fair Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 50,990 $ 50,990 $ 50,990 $ — $ — Commercial paper 189,596 189,596 189,596 — — Certificates of deposit in other banks 40,122 40,122 — 40,122 — Debt securities available for sale 156,459 156,459 — 156,459 — Loans held for sale 93,539 94,779 — — 94,779 Loans, net 2,697,799 2,668,570 — — 2,668,570 FHLB stock 6,153 N/A N/A N/A N/A FRB stock 7,386 N/A N/A N/A N/A SBIC investments 10,171 10,171 — — 10,171 Accrued interest receivable 7,933 7,933 52 542 7,339 Liabilities: Noninterest-bearing and NOW accounts 1,281,372 1,281,372 — 1,281,372 — Money market accounts 975,001 975,001 — 975,001 — Savings accounts 226,391 226,391 — 226,391 — Certificates of deposit 472,777 474,397 — 474,397 — Borrowings 115,000 115,000 — 115,000 — Accrued interest payable 52 52 — 52 — |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Mar. 31, 2022 | |
Leases [Abstract] | |
Assets and Liabilities, Lessee | The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities. Supplemental Balance Sheet Information: March 31, 2022 June 30, 2021 ROU assets $ 6,172 $ 5,498 Lease liabilities 6,961 5,926 Weighted-average remaining lease terms (years) 10.78 9.49 Weighted-average discount rate 2.89 % 3.18 % |
Lessee, Operating Lease, Liability, Maturity | The following schedule summarizes aggregate future minimum lease payments under these operating leases at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 1,573 2023 1,293 2024 847 2025 541 2026 414 Thereafter 3,653 Total undiscounted minimum lease payments 8,321 Less: amount representing interest (1,360) Total lease liability $ 6,961 |
Lease, Cost | The following table presents components of operating lease expense for the three and nine months ended March 31, 2022 and 2021: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Operating lease cost (included in occupancy expense, net) $ 347 $ 398 $ 1,215 $ 1,192 Variable lease cost (included in occupancy expense, net) 7 6 13 18 Sublease income (included in other, noninterest income) (60) (33) (154) (147) Total operating lease expense, net $ 294 $ 371 $ 1,074 $ 1,063 Supplemental lease cash flow information for the nine months ended March 31, 2022 and 2021: Nine Months Ended March 31, 2022 2021 ROU assets - noncash additions (operating leases) $ 1,186 $ 599 Cash paid for amounts included in the measurement of lease liabilities (operating leases) 1,281 1,632 Cash paid for amounts included in the measurement of lease liabilities (finance leases) 100 100 |
Finance Lease, Liability, Maturity | The following schedule summarizes aggregate future minimum lease payments under this finance lease obligation at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 33 2023 134 2024 145 2025 146 2026 146 Thereafter 1,702 Total undiscounted minimum lease payments 2,306 Less: amount representing interest (533) Total lease liability $ 1,773 |
Schedule of Total Equipment Finance Operating Lease Income and Depreciation Expense | The following table presents total equipment finance operating lease income and depreciation expense for the three and nine months ended March 31, 2022 and 2021: Three Months Ended March 31, Nine Months Ended March 31, 2022 2021 2022 2021 Operating lease income $ 1,661 $ 1,432 $ 4,920 $ 4,107 Depreciation expense 1,339 1,417 4,221 4,371 |
Lessor, Operating Lease, Payments to be Received, Maturity | The following schedule summarizes aggregate future minimum lease payments to be received at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 1,436 2023 4,989 2024 2,895 2025 889 2026 246 Thereafter 13 Total of future minimum lease payments $ 10,468 |
Sales-type and Direct Financing Leases, Lease Receivable, Maturity | The following schedule summarizes aggregate future minimum finance lease payments to be received at March 31, 2022: Fiscal year ending June 30: Remaining 2022 $ 5,853 2023 21,226 2024 18,262 2025 13,038 2026 8,405 Thereafter 4,299 Total undiscounted minimum lease payments 71,083 Less: amount representing interest (8,476) Total lease receivable $ 62,607 |
Debt Securities - Available for
Debt Securities - Available for Sale Securities Table (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | $ 108,130 | $ 154,493 |
Gross Unrealized Gains | 251 | 2,184 |
Gross Unrealized Losses | (2,066) | (218) |
Estimated Fair Value | 106,315 | 156,459 |
U.S. government agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 18,988 | 18,975 |
Gross Unrealized Gains | 34 | 135 |
Gross Unrealized Losses | (446) | (37) |
Estimated Fair Value | 18,576 | 19,073 |
MBS, residential | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 34,641 | 42,119 |
Gross Unrealized Gains | 86 | 1,339 |
Gross Unrealized Losses | (664) | (54) |
Estimated Fair Value | 34,063 | 43,404 |
Municipal bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 5,558 | 9,098 |
Gross Unrealized Gains | 109 | 453 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 5,667 | 9,551 |
Corporate bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 48,943 | 84,301 |
Gross Unrealized Gains | 22 | 257 |
Gross Unrealized Losses | (956) | (127) |
Estimated Fair Value | $ 48,009 | $ 84,431 |
Debt Securities - Schedule of I
Debt Securities - Schedule of Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Amortized Cost | ||
Due within one year | $ 33,546 | $ 34,615 |
Due after one year through five years | 33,384 | 73,249 |
Due after five years through ten years | 6,559 | 4,510 |
Due after ten years | 0 | 0 |
Total | 108,130 | 154,493 |
Estimated Fair Value | ||
Due within one year | 33,497 | 34,684 |
Due after one year through five years | 32,322 | 73,633 |
Due after five years through ten years | 6,433 | 4,738 |
Due after ten years | 0 | 0 |
Estimated Fair Value | 106,315 | 156,459 |
MBS, residential | ||
Amortized Cost | ||
Total | 34,641 | 42,119 |
Estimated Fair Value | ||
Estimated Fair Value | $ 34,063 | $ 43,404 |
Debt Securities - Narrative (De
Debt Securities - Narrative (Details) | 9 Months Ended | ||
Mar. 31, 2022USD ($)security | Mar. 31, 2021USD ($) | Jun. 30, 2021USD ($)security | |
Debt Securities, Available-for-sale [Line Items] | |||
Estimated Fair Value | $ 106,315,000 | $ 156,459,000 | |
Proceeds from sale of securities available for sale | 0 | $ 0 | |
Gross realized gain (loss) | 0 | $ 0 | |
Securities available for sale pledged as collateral market value | $ 52,350,000 | $ 53,897,000 | |
Number of securities with unrealized losses | security | 124 | 28 | |
Accrued interest receivable for investment securities available for sale | $ 353,000 | ||
Collateral Pledged | |||
Debt Securities, Available-for-sale [Line Items] | |||
Estimated Fair Value | $ 53,266,000 | $ 52,603,000 |
Debt Securities - Available f_2
Debt Securities - Available for Sale Securities Continuous Unrealized Loss Position Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Debt Securities, Available-for-sale [Line Items] | ||
Estimated Fair Value | $ 106,315 | $ 156,459 |
Less than 12 Months, Fair Value | 59,535 | 40,048 |
12 Months or Longer, Fair Value | 16,599 | 1,205 |
Total, Fair Value | 76,134 | 41,253 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31) | ||
12 Months or More, Fair Value | (1,257) | (192) |
12 Months or More, Unrealized Losses | (809) | (26) |
Total, Unrealized Losses | (2,066) | (218) |
U.S. government agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Estimated Fair Value | 18,576 | 19,073 |
Less than 12 Months, Fair Value | 14,554 | 14,963 |
12 Months or Longer, Fair Value | 0 | 0 |
Total, Fair Value | 14,554 | 14,963 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31) | ||
12 Months or More, Fair Value | (446) | (37) |
12 Months or More, Unrealized Losses | 0 | 0 |
Total, Unrealized Losses | (446) | (37) |
MBS, residential | ||
Debt Securities, Available-for-sale [Line Items] | ||
Estimated Fair Value | 34,063 | 43,404 |
Less than 12 Months, Fair Value | 21,093 | 5,212 |
12 Months or Longer, Fair Value | 2,290 | 1,205 |
Total, Fair Value | 23,383 | 6,417 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31) | ||
12 Months or More, Fair Value | (546) | (28) |
12 Months or More, Unrealized Losses | (118) | (26) |
Total, Unrealized Losses | (664) | (54) |
Corporate bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Estimated Fair Value | 48,009 | 84,431 |
Less than 12 Months, Fair Value | 23,888 | 19,873 |
12 Months or Longer, Fair Value | 14,309 | 0 |
Total, Fair Value | 38,197 | 19,873 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31) | ||
12 Months or More, Fair Value | (265) | (127) |
12 Months or More, Unrealized Losses | (691) | 0 |
Total, Unrealized Losses | (956) | (127) |
Collateral Pledged | ||
Debt Securities, Available-for-sale [Line Items] | ||
Estimated Fair Value | $ 53,266 | $ 52,603 |
Other Investments (Details)
Other Investments (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Other Investment Not Readily Marketable [Line Items] | ||
FHLB of Atlanta stock | $ 3,038 | $ 6,153 |
FRB stock | 7,413 | 7,386 |
Other investments, at cost | 23,040 | 23,710 |
Small Business Investment Companies (SBIC) | ||
Other Investment Not Readily Marketable [Line Items] | ||
SBIC investments | $ 12,589 | $ 10,171 |
Loans Held For Sale (Details)
Loans Held For Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Accounts, Notes, Loans and Financing Receivable | ||
Total | $ 85,263 | $ 93,539 |
One-to-four family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total | 14,647 | 31,873 |
SBA | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total | 8,105 | 4,160 |
HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total | $ 62,511 | $ 57,506 |
Loans and Allowance for Credi_3
Loans and Allowance for Credit Losses on Loans - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | $ 2,699,538 | $ 2,733,267 | ||||
Allowance for credit losses on loans | (31,034) | $ (30,933) | (35,468) | $ (36,059) | $ (39,844) | $ (28,072) |
Loans, net | 2,668,504 | 2,697,799 | ||||
Accrued interest receivable | 7,427 | 7,339 | ||||
Commercial Loans | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 2,032,839 | 1,968,035 | ||||
Allowance for credit losses on loans | (22,322) | (22,968) | (24,746) | (23,398) | (24,899) | (21,116) |
Commercial Loans | PPP | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 2,756 | 46,650 | ||||
Allowance for credit losses on loans | 0 | 0 | ||||
Commercial Loans | Commercial real estate | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 1,102,184 | 1,142,276 | ||||
Allowance for credit losses on loans | (9,157) | (13,282) | ||||
Commercial Loans | Construction and development | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 251,668 | 179,427 | ||||
Allowance for credit losses on loans | (3,680) | (1,801) | ||||
Commercial Loans | Commercial and industrial | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 167,342 | 141,341 | ||||
Allowance for credit losses on loans | (2,904) | (2,592) | ||||
Commercial Loans | Equipment finance | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 378,629 | 317,920 | ||||
Allowance for credit losses on loans | (6,284) | (6,537) | ||||
Commercial Loans | Municipal finance | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 130,260 | 140,421 | ||||
Allowance for credit losses on loans | (297) | (534) | ||||
Retail Consumer Loans | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 666,699 | 765,232 | ||||
Allowance for credit losses on loans | (8,712) | $ (7,965) | (10,722) | $ (12,661) | $ (14,945) | $ (6,956) |
Retail Consumer Loans | One-to-four family | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 347,945 | 406,549 | ||||
Allowance for credit losses on loans | (4,400) | (5,409) | ||||
Retail Consumer Loans | HELOCs - originated | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 128,445 | 130,225 | ||||
Allowance for credit losses on loans | (1,409) | (1,512) | ||||
Retail Consumer Loans | HELOCs - purchased | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 26,911 | 38,976 | ||||
Allowance for credit losses on loans | (295) | (452) | ||||
Retail Consumer Loans | Construction and land/lots | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 72,735 | 66,027 | ||||
Allowance for credit losses on loans | (903) | (812) | ||||
Retail Consumer Loans | Indirect auto finance | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 83,903 | 115,093 | ||||
Allowance for credit losses on loans | (1,586) | (2,367) | ||||
Retail Consumer Loans | Consumer | ||||||
Accounts, Notes, Loans and Financing Receivable | ||||||
Total loans, net of deferred loan fees and costs | 6,760 | 8,362 | ||||
Allowance for credit losses on loans | $ (119) | $ (170) |
Loans and Allowance for Credi_4
Loans and Allowance for Credit Losses on Loans - Financing Receivable Credit Quality Indicators, After Adoption of ASU 2016-13 (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Financing Receivable, Recorded Investment | ||
Total loans, net of deferred loan costs | $ 2,699,538 | $ 2,733,267 |
Commercial Loans | ||
Financing Receivable, Recorded Investment | ||
2022 | 366,647 | 483,459 |
2021 | 408,564 | 339,182 |
2020 | 262,561 | 240,106 |
2019 | 175,671 | 215,357 |
2018 | 164,022 | 192,583 |
Prior | 380,526 | 293,689 |
Revolving | 274,848 | 203,659 |
Total loans, net of deferred loan costs | 2,032,839 | 1,968,035 |
Commercial Loans | PPP | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 29,667 |
2021 | 2,255 | 16,983 |
2020 | 501 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 2,756 | 46,650 |
Commercial Loans | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 364,645 | 483,428 |
2021 | 407,679 | 339,128 |
2020 | 261,192 | 238,765 |
2019 | 173,779 | 197,666 |
2018 | 148,053 | 186,302 |
Prior | 363,651 | 285,720 |
Revolving | 266,084 | 194,568 |
Total loans, net of deferred loan costs | 1,985,083 | 1,925,577 |
Commercial Loans | Pass | PPP | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 29,667 |
2021 | 2,255 | 16,983 |
2020 | 501 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 2,756 | 46,650 |
Commercial Loans | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 1,096 | 0 |
2021 | 215 | 21 |
2020 | 973 | 438 |
2019 | 726 | 17,061 |
2018 | 15,377 | 1,288 |
Prior | 13,690 | 3,760 |
Revolving | 4,812 | 3,864 |
Total loans, net of deferred loan costs | 36,889 | 26,432 |
Commercial Loans | Special Mention | PPP | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Commercial Loans | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 906 | 31 |
2021 | 670 | 33 |
2020 | 396 | 623 |
2019 | 1,016 | 630 |
2018 | 592 | 4,993 |
Prior | 3,185 | 4,207 |
Revolving | 3,952 | 5,227 |
Total loans, net of deferred loan costs | 10,717 | 15,744 |
Commercial Loans | Substandard | PPP | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Commercial Loans | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 280 |
2019 | 150 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 150 | 280 |
Commercial Loans | Doubtful | PPP | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Commercial Loans | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 2 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 2 |
Commercial Loans | Loss | PPP | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Commercial Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
2022 | 136,613 | 227,850 |
2021 | 218,034 | 177,691 |
2020 | 162,503 | 142,407 |
2019 | 115,969 | 175,728 |
2018 | 135,708 | 164,774 |
Prior | 309,722 | 227,568 |
Revolving | 23,635 | 26,258 |
Total loans, net of deferred loan costs | 1,102,184 | 1,142,276 |
Commercial Loans | Commercial real estate | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 135,883 | 227,850 |
2021 | 218,034 | 177,691 |
2020 | 162,102 | 142,407 |
2019 | 115,537 | 158,147 |
2018 | 119,739 | 158,525 |
Prior | 293,512 | 220,834 |
Revolving | 23,238 | 25,860 |
Total loans, net of deferred loan costs | 1,068,045 | 1,111,314 |
Commercial Loans | Commercial real estate | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 730 | 0 |
2021 | 0 | 0 |
2020 | 401 | 0 |
2019 | 432 | 16,951 |
2018 | 15,377 | 1,256 |
Prior | 13,410 | 3,092 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 30,350 | 21,299 |
Commercial Loans | Commercial real estate | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 630 |
2018 | 592 | 4,993 |
Prior | 2,800 | 3,642 |
Revolving | 397 | 398 |
Total loans, net of deferred loan costs | 3,789 | 9,663 |
Commercial Loans | Commercial real estate | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Commercial Loans | Commercial real estate | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Commercial Loans | Construction and development | ||
Financing Receivable, Recorded Investment | ||
2022 | 27,765 | 18,262 |
2021 | 15,907 | 6,523 |
2020 | 2,241 | 10,349 |
2019 | 2,687 | 6,008 |
2018 | 4,530 | 2,693 |
Prior | 6,450 | 7,922 |
Revolving | 192,088 | 127,670 |
Total loans, net of deferred loan costs | 251,668 | 179,427 |
Commercial Loans | Construction and development | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 26,859 | 18,262 |
2021 | 15,907 | 6,523 |
2020 | 2,241 | 10,349 |
2019 | 2,687 | 6,008 |
2018 | 4,530 | 2,693 |
Prior | 5,932 | 7,153 |
Revolving | 187,373 | 123,843 |
Total loans, net of deferred loan costs | 245,529 | 174,831 |
Commercial Loans | Construction and development | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 186 | 286 |
Revolving | 4,715 | 3,827 |
Total loans, net of deferred loan costs | 4,901 | 4,113 |
Commercial Loans | Construction and development | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 906 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 332 | 482 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 1,238 | 482 |
Commercial Loans | Construction and development | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Commercial Loans | Construction and development | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 1 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 1 |
Commercial Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
2022 | 43,193 | 29,637 |
2021 | 22,311 | 14,064 |
2020 | 12,307 | 19,564 |
2019 | 12,505 | 10,869 |
2018 | 7,136 | 15,378 |
Prior | 22,349 | 10,798 |
Revolving | 47,541 | 41,031 |
Total loans, net of deferred loan costs | 167,342 | 141,341 |
Commercial Loans | Commercial and industrial | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 43,193 | 29,606 |
2021 | 21,537 | 14,010 |
2020 | 11,960 | 18,826 |
2019 | 11,645 | 10,759 |
2018 | 7,136 | 15,346 |
Prior | 22,202 | 10,589 |
Revolving | 43,889 | 36,165 |
Total loans, net of deferred loan costs | 161,562 | 135,301 |
Commercial Loans | Commercial and industrial | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 104 | 21 |
2020 | 0 | 438 |
2019 | 0 | 110 |
2018 | 0 | 32 |
Prior | 94 | 125 |
Revolving | 97 | 37 |
Total loans, net of deferred loan costs | 295 | 763 |
Commercial Loans | Commercial and industrial | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 31 |
2021 | 670 | 33 |
2020 | 347 | 300 |
2019 | 860 | 0 |
2018 | 0 | 0 |
Prior | 53 | 83 |
Revolving | 3,555 | 4,829 |
Total loans, net of deferred loan costs | 5,485 | 5,276 |
Commercial Loans | Commercial and industrial | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Commercial Loans | Commercial and industrial | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 1 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 1 |
Commercial Loans | Equipment finance | ||
Financing Receivable, Recorded Investment | ||
2022 | 142,392 | 154,685 |
2021 | 125,470 | 104,681 |
2020 | 75,747 | 53,781 |
2019 | 32,742 | 4,773 |
2018 | 2,278 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 378,629 | 317,920 |
Commercial Loans | Equipment finance | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 142,026 | 154,685 |
2021 | 125,396 | 104,681 |
2020 | 75,126 | 53,178 |
2019 | 32,142 | 4,773 |
2018 | 2,278 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 376,968 | 317,317 |
Commercial Loans | Equipment finance | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 366 | 0 |
2021 | 74 | 0 |
2020 | 572 | 0 |
2019 | 294 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 1,306 | 0 |
Commercial Loans | Equipment finance | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 49 | 323 |
2019 | 156 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 205 | 323 |
Commercial Loans | Equipment finance | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 280 |
2019 | 150 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 150 | 280 |
Commercial Loans | Equipment finance | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Commercial Loans | Municipal finance | ||
Financing Receivable, Recorded Investment | ||
2022 | 16,684 | 23,358 |
2021 | 24,587 | 19,240 |
2020 | 9,262 | 14,005 |
2019 | 11,768 | 17,979 |
2018 | 14,370 | 9,738 |
Prior | 42,005 | 47,401 |
Revolving | 11,584 | 8,700 |
Total loans, net of deferred loan costs | 130,260 | 140,421 |
Commercial Loans | Municipal finance | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 16,684 | 23,358 |
2021 | 24,550 | 19,240 |
2020 | 9,262 | 14,005 |
2019 | 11,768 | 17,979 |
2018 | 14,370 | 9,738 |
Prior | 42,005 | 47,144 |
Revolving | 11,584 | 8,700 |
Total loans, net of deferred loan costs | 130,223 | 140,164 |
Commercial Loans | Municipal finance | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 37 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 257 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 37 | 257 |
Commercial Loans | Municipal finance | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Commercial Loans | Municipal finance | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Commercial Loans | Municipal finance | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Retail Consumer Loans | ||
Financing Receivable, Recorded Investment | ||
2022 | 62,859 | 123,483 |
2021 | 106,442 | 95,138 |
2020 | 69,942 | 72,411 |
2019 | 47,072 | 61,349 |
2018 | 36,550 | 46,026 |
Prior | 143,899 | 166,785 |
Revolving | 199,935 | 200,040 |
Total loans, net of deferred loan costs | 666,699 | 765,232 |
Retail Consumer Loans | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 62,669 | 123,206 |
2021 | 106,223 | 93,738 |
2020 | 68,608 | 72,037 |
2019 | 46,377 | 60,739 |
2018 | 35,856 | 45,728 |
Prior | 136,881 | 158,710 |
Revolving | 199,238 | 199,471 |
Total loans, net of deferred loan costs | 655,852 | 753,629 |
Retail Consumer Loans | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 14 |
2018 | 0 | 27 |
Prior | 867 | 1,096 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 867 | 1,137 |
Retail Consumer Loans | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 190 | 275 |
2021 | 219 | 1,399 |
2020 | 1,334 | 373 |
2019 | 695 | 596 |
2018 | 694 | 271 |
Prior | 5,687 | 6,473 |
Revolving | 697 | 569 |
Total loans, net of deferred loan costs | 9,516 | 9,956 |
Retail Consumer Loans | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 157 | 191 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 157 | 191 |
Retail Consumer Loans | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 2 |
2021 | 0 | 1 |
2020 | 0 | 1 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 307 | 315 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 307 | 319 |
Retail Consumer Loans | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
2022 | 40,749 | 72,969 |
2021 | 68,486 | 53,968 |
2020 | 49,208 | 46,958 |
2019 | 32,077 | 40,677 |
2018 | 25,707 | 37,474 |
Prior | 128,948 | 150,158 |
Revolving | 2,770 | 4,345 |
Total loans, net of deferred loan costs | 347,945 | 406,549 |
Retail Consumer Loans | One-to-four family | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 40,621 | 72,723 |
2021 | 68,486 | 52,987 |
2020 | 48,195 | 46,958 |
2019 | 31,537 | 40,461 |
2018 | 25,273 | 37,361 |
Prior | 123,383 | 143,531 |
Revolving | 2,770 | 4,345 |
Total loans, net of deferred loan costs | 340,265 | 398,366 |
Retail Consumer Loans | One-to-four family | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 27 |
Prior | 858 | 1,084 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 858 | 1,111 |
Retail Consumer Loans | One-to-four family | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 128 | 246 |
2021 | 0 | 981 |
2020 | 1,013 | 0 |
2019 | 540 | 216 |
2018 | 434 | 86 |
Prior | 4,243 | 5,037 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 6,358 | 6,566 |
Retail Consumer Loans | One-to-four family | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 157 | 191 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 157 | 191 |
Retail Consumer Loans | One-to-four family | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 307 | 315 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 307 | 315 |
Retail Consumer Loans | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
2022 | 627 | 2,767 |
2021 | 1,013 | 465 |
2020 | 286 | 1,453 |
2019 | 1,229 | 217 |
2018 | 227 | 754 |
Prior | 8,837 | 10,416 |
Revolving | 116,226 | 114,153 |
Total loans, net of deferred loan costs | 128,445 | 130,225 |
Retail Consumer Loans | HELOCs - originated | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 627 | 2,767 |
2021 | 997 | 465 |
2020 | 286 | 1,294 |
2019 | 1,229 | 217 |
2018 | 227 | 716 |
Prior | 7,901 | 9,469 |
Revolving | 116,176 | 114,048 |
Total loans, net of deferred loan costs | 127,443 | 128,976 |
Retail Consumer Loans | HELOCs - originated | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 9 | 12 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 9 | 12 |
Retail Consumer Loans | HELOCs - originated | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 16 | 0 |
2020 | 0 | 159 |
2019 | 0 | 0 |
2018 | 0 | 38 |
Prior | 927 | 935 |
Revolving | 50 | 105 |
Total loans, net of deferred loan costs | 993 | 1,237 |
Retail Consumer Loans | HELOCs - originated | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Retail Consumer Loans | HELOCs - originated | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Retail Consumer Loans | HELOCs - purchased | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 26,911 | 38,976 |
Total loans, net of deferred loan costs | 26,911 | 38,976 |
Retail Consumer Loans | HELOCs - purchased | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 26,278 | 38,523 |
Total loans, net of deferred loan costs | 26,278 | 38,523 |
Retail Consumer Loans | HELOCs - purchased | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Retail Consumer Loans | HELOCs - purchased | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 633 | 453 |
Total loans, net of deferred loan costs | 633 | 453 |
Retail Consumer Loans | HELOCs - purchased | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Retail Consumer Loans | HELOCs - purchased | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Retail Consumer Loans | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
2022 | 1,373 | 4,244 |
2021 | 13,510 | 12,133 |
2020 | 1,691 | 2,357 |
2019 | 53 | 1,052 |
2018 | 0 | 0 |
Prior | 2,351 | 3,974 |
Revolving | 53,757 | 42,267 |
Total loans, net of deferred loan costs | 72,735 | 66,027 |
Retail Consumer Loans | Construction and land/lots | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 1,373 | 4,244 |
2021 | 13,510 | 12,133 |
2020 | 1,691 | 2,357 |
2019 | 53 | 956 |
2018 | 0 | 0 |
Prior | 1,967 | 3,558 |
Revolving | 53,757 | 42,267 |
Total loans, net of deferred loan costs | 72,351 | 65,515 |
Retail Consumer Loans | Construction and land/lots | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Retail Consumer Loans | Construction and land/lots | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 96 |
2018 | 0 | 0 |
Prior | 384 | 416 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 384 | 512 |
Retail Consumer Loans | Construction and land/lots | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Retail Consumer Loans | Construction and land/lots | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Retail Consumer Loans | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
2022 | 19,538 | 42,159 |
2021 | 22,471 | 27,549 |
2020 | 18,104 | 16,419 |
2019 | 9,658 | 19,126 |
2018 | 10,488 | 7,704 |
Prior | 3,644 | 2,136 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 83,903 | 115,093 |
Retail Consumer Loans | Indirect auto finance | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 19,476 | 42,128 |
2021 | 22,276 | 27,134 |
2020 | 17,783 | 16,224 |
2019 | 9,522 | 18,853 |
2018 | 10,238 | 7,561 |
Prior | 3,529 | 2,061 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 82,824 | 113,961 |
Retail Consumer Loans | Indirect auto finance | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Retail Consumer Loans | Indirect auto finance | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 62 | 29 |
2021 | 195 | 415 |
2020 | 321 | 195 |
2019 | 136 | 273 |
2018 | 250 | 143 |
Prior | 115 | 75 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 1,079 | 1,130 |
Retail Consumer Loans | Indirect auto finance | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Retail Consumer Loans | Indirect auto finance | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 2 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 2 |
Retail Consumer Loans | Consumer | ||
Financing Receivable, Recorded Investment | ||
2022 | 572 | 1,344 |
2021 | 962 | 1,023 |
2020 | 653 | 5,224 |
2019 | 4,055 | 277 |
2018 | 128 | 94 |
Prior | 119 | 101 |
Revolving | 271 | 299 |
Total loans, net of deferred loan costs | 6,760 | 8,362 |
Retail Consumer Loans | Consumer | Pass | ||
Financing Receivable, Recorded Investment | ||
2022 | 572 | 1,344 |
2021 | 954 | 1,019 |
2020 | 653 | 5,204 |
2019 | 4,036 | 252 |
2018 | 118 | 90 |
Prior | 101 | 91 |
Revolving | 257 | 288 |
Total loans, net of deferred loan costs | 6,691 | 8,288 |
Retail Consumer Loans | Consumer | Special Mention | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 14 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 14 |
Retail Consumer Loans | Consumer | Substandard | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 8 | 3 |
2020 | 0 | 19 |
2019 | 19 | 11 |
2018 | 10 | 4 |
Prior | 18 | 10 |
Revolving | 14 | 11 |
Total loans, net of deferred loan costs | 69 | 58 |
Retail Consumer Loans | Consumer | Doubtful | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 0 |
2020 | 0 | 0 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | 0 | 0 |
Retail Consumer Loans | Consumer | Loss | ||
Financing Receivable, Recorded Investment | ||
2022 | 0 | 0 |
2021 | 0 | 1 |
2020 | 0 | 1 |
2019 | 0 | 0 |
2018 | 0 | 0 |
Prior | 0 | 0 |
Revolving | 0 | 0 |
Total loans, net of deferred loan costs | $ 0 | $ 2 |
Loans and Allowance for Credi_5
Loans and Allowance for Credit Losses on Loans - Schedule of Past Due Financing Receivables (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Financing Receivable, Past Due [Line Items] | ||
Past Due | $ 3,347 | $ 7,115 |
Current | 2,696,191 | 2,726,152 |
Total Loans | 2,699,538 | 2,733,267 |
30-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 913 | 3,313 |
90 Days+ | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 2,434 | 3,802 |
Commercial Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans | 2,032,839 | 1,968,035 |
Commercial Loans | PPP | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Current | 2,756 | 46,650 |
Total Loans | 2,756 | 46,650 |
Commercial Loans | 30-89 Days | PPP | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Commercial Loans | 90 Days+ | PPP | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Commercial Loans | Commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 247 | 2,076 |
Current | 1,101,937 | 1,140,200 |
Total Loans | 1,102,184 | 1,142,276 |
Commercial Loans | Commercial real estate | 30-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 396 |
Commercial Loans | Commercial real estate | 90 Days+ | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 247 | 1,680 |
Commercial Loans | Construction and development | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 246 | 37 |
Current | 251,422 | 179,390 |
Total Loans | 251,668 | 179,427 |
Commercial Loans | Construction and development | 30-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Commercial Loans | Construction and development | 90 Days+ | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 246 | 37 |
Commercial Loans | Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 67 | 653 |
Current | 167,275 | 140,688 |
Total Loans | 167,342 | 141,341 |
Commercial Loans | Commercial and industrial | 30-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 634 |
Commercial Loans | Commercial and industrial | 90 Days+ | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 67 | 19 |
Commercial Loans | Equipment finance | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 98 | 347 |
Current | 378,531 | 317,573 |
Total Loans | 378,629 | 317,920 |
Commercial Loans | Equipment finance | 30-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 65 | 0 |
Commercial Loans | Equipment finance | 90 Days+ | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 33 | 347 |
Commercial Loans | Municipal finance | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Current | 130,260 | 140,421 |
Total Loans | 130,260 | 140,421 |
Commercial Loans | Municipal finance | 30-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Commercial Loans | Municipal finance | 90 Days+ | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Retail Consumer Loans | ||
Financing Receivable, Past Due [Line Items] | ||
Total Loans | 666,699 | 765,232 |
Retail Consumer Loans | One-to-four family | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 1,676 | 2,236 |
Current | 346,269 | 404,313 |
Total Loans | 347,945 | 406,549 |
Retail Consumer Loans | One-to-four family | 30-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 347 | 1,112 |
Retail Consumer Loans | One-to-four family | 90 Days+ | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 1,329 | 1,124 |
Retail Consumer Loans | HELOCs - originated | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 206 | 476 |
Current | 128,239 | 129,749 |
Total Loans | 128,445 | 130,225 |
Retail Consumer Loans | HELOCs - originated | 30-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 28 | 290 |
Retail Consumer Loans | HELOCs - originated | 90 Days+ | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 178 | 186 |
Retail Consumer Loans | HELOCs - purchased | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 142 | 277 |
Current | 26,769 | 38,699 |
Total Loans | 26,911 | 38,976 |
Retail Consumer Loans | HELOCs - purchased | 30-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 142 | 198 |
Retail Consumer Loans | HELOCs - purchased | 90 Days+ | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 79 |
Retail Consumer Loans | Construction and land/lots | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 140 | 41 |
Current | 72,595 | 65,986 |
Total Loans | 72,735 | 66,027 |
Retail Consumer Loans | Construction and land/lots | 30-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 0 | 6 |
Retail Consumer Loans | Construction and land/lots | 90 Days+ | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 140 | 35 |
Retail Consumer Loans | Indirect auto finance | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 463 | 558 |
Current | 83,440 | 114,535 |
Total Loans | 83,903 | 115,093 |
Retail Consumer Loans | Indirect auto finance | 30-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 307 | 299 |
Retail Consumer Loans | Indirect auto finance | 90 Days+ | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 156 | 259 |
Retail Consumer Loans | Consumer | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 62 | 414 |
Current | 6,698 | 7,948 |
Total Loans | 6,760 | 8,362 |
Retail Consumer Loans | Consumer | 30-89 Days | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | 24 | 378 |
Retail Consumer Loans | Consumer | 90 Days+ | ||
Financing Receivable, Past Due [Line Items] | ||
Past Due | $ 38 | $ 36 |
Loans and Allowance for Credi_6
Loans and Allowance for Credit Losses on Loans - Schedule of Past Due Loans Still Accruing and Nonaccruing Interest (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2022 | Jun. 30, 2021 | |
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccrual loans | $ 5,811 | $ 12,606 |
90 Days + & Still Accruing as of March 31, 2022 | 0 | |
Nonaccrual With No Allowance as of March 31, 2022 | 824 | |
Interest Income Recognized | 139 | |
Commercial Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccrual loans | 1,033 | 7,015 |
90 Days + & Still Accruing as of March 31, 2022 | 0 | |
Nonaccrual With No Allowance as of March 31, 2022 | 284 | |
Interest Income Recognized | 28 | |
Commercial Loans | Construction and development | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccrual loans | 332 | 482 |
90 Days + & Still Accruing as of March 31, 2022 | 0 | |
Nonaccrual With No Allowance as of March 31, 2022 | 0 | |
Interest Income Recognized | 6 | |
Commercial Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccrual loans | 919 | 49 |
90 Days + & Still Accruing as of March 31, 2022 | 0 | |
Nonaccrual With No Allowance as of March 31, 2022 | 0 | |
Interest Income Recognized | 17 | |
Commercial Loans | Equipment finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccrual loans | 289 | 630 |
90 Days + & Still Accruing as of March 31, 2022 | 0 | |
Nonaccrual With No Allowance as of March 31, 2022 | 0 | |
Interest Income Recognized | 9 | |
Retail Consumer Loans | One-to-four family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccrual loans | 1,687 | 2,625 |
90 Days + & Still Accruing as of March 31, 2022 | 0 | |
Nonaccrual With No Allowance as of March 31, 2022 | 540 | |
Interest Income Recognized | 37 | |
Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccrual loans | 207 | 476 |
90 Days + & Still Accruing as of March 31, 2022 | 0 | |
Nonaccrual With No Allowance as of March 31, 2022 | 0 | |
Interest Income Recognized | 2 | |
Retail Consumer Loans | HELOCs - purchased | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccrual loans | 633 | 453 |
90 Days + & Still Accruing as of March 31, 2022 | 0 | |
Nonaccrual With No Allowance as of March 31, 2022 | 0 | |
Interest Income Recognized | 19 | |
Retail Consumer Loans | Construction and land/lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccrual loans | 140 | 22 |
90 Days + & Still Accruing as of March 31, 2022 | 0 | |
Nonaccrual With No Allowance as of March 31, 2022 | 0 | |
Interest Income Recognized | 2 | |
Retail Consumer Loans | Indirect auto finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccrual loans | 505 | 438 |
90 Days + & Still Accruing as of March 31, 2022 | 0 | |
Nonaccrual With No Allowance as of March 31, 2022 | 0 | |
Interest Income Recognized | 17 | |
Retail Consumer Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccrual loans | 66 | $ 416 |
90 Days + & Still Accruing as of March 31, 2022 | 0 | |
Nonaccrual With No Allowance as of March 31, 2022 | 0 | |
Interest Income Recognized | $ 2 |
Loans and Allowance for Credi_7
Loans and Allowance for Credit Losses on Loans - Narrative (Details) $ in Thousands | 9 Months Ended | |
Mar. 31, 2022USD ($)loan | Jun. 30, 2021USD ($) | |
Accounts, Notes, Loans and Financing Receivable | ||
Number of loans | loan | 2 | |
Financing receivable, nonaccrual, payoffs and charge offs | $ 5,100 | |
Reserve for credit losses for off-balance sheet credit exposures included in other liabilities | 2,738 | |
Payment deferral amount | 0 | $ 107 |
Coronavirus Aid, Relief, And Economic Securities Act, Short-Term Modifications | Commercial Loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Amount of loans on interest-only payments | 9,605 | 78,850 |
Performing financing receivable | ||
Accounts, Notes, Loans and Financing Receivable | ||
Performing restructured loans included in impaired loans | $ 10,691 | $ 11,088 |
Loans and Allowance for Credi_8
Loans and Allowance for Credit Losses on Loans - Breakdown of Provision (Benefit) For Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Provision (benefit) for credit losses: | ||||
Loans | $ (640) | $ (3,970) | $ (4,415) | $ (6,370) |
Off-balance-sheet credit exposure | 650 | (130) | 415 | 10 |
Commercial paper | (55) | 0 | (5) | 180 |
Total provision (benefit) for credit losses | $ (45) | $ (4,100) | $ (4,005) | $ (6,180) |
Loans and Allowance for Credi_9
Loans and Allowance for Credit Losses on Loans - Schedule of Allowance for Credit Losses on Financing Receivables Table (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Balance at beginning of period | $ 30,933 | $ 39,844 | $ 35,468 | $ 28,072 |
Provision (benefit) for credit losses | (640) | (3,970) | (4,415) | (6,370) |
Charge-offs | (334) | (425) | (2,190) | (2,763) |
Recoveries | 1,075 | 610 | 2,171 | 2,311 |
Net (charge-offs) recoveries | 741 | 185 | (19) | (452) |
Balance at end of period | 31,034 | 36,059 | 31,034 | 36,059 |
Cumulative-effect adjustment due to the adoption of ASU 2016-13 | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Balance at beginning of period | 14,809 | |||
Commercial Loans | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Balance at beginning of period | 22,968 | 24,899 | 24,746 | 21,116 |
Provision (benefit) for credit losses | (1,295) | (1,750) | (2,058) | (1,750) |
Charge-offs | (261) | (107) | (2,011) | (1,510) |
Recoveries | 910 | 356 | 1,645 | 1,469 |
Net (charge-offs) recoveries | 649 | 249 | (366) | (41) |
Balance at end of period | 22,322 | 23,398 | 22,322 | 23,398 |
Commercial Loans | Cumulative-effect adjustment due to the adoption of ASU 2016-13 | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Balance at beginning of period | 4,073 | |||
Retail Consumer Loans | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Balance at beginning of period | 7,965 | 14,945 | 10,722 | 6,956 |
Provision (benefit) for credit losses | 655 | (2,220) | (2,357) | (4,620) |
Charge-offs | (73) | (318) | (179) | (1,253) |
Recoveries | 165 | 254 | 526 | 842 |
Net (charge-offs) recoveries | 92 | (64) | 347 | (411) |
Balance at end of period | $ 8,712 | $ 12,661 | $ 8,712 | 12,661 |
Retail Consumer Loans | Cumulative-effect adjustment due to the adoption of ASU 2016-13 | ||||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Balance at beginning of period | $ 10,736 |
Loans and Allowance for Cred_10
Loans and Allowance for Credit Losses on Loans - Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2020 |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | $ 1,311 | $ 467 | ||||
Allowance for credit losses, Loans collectively evaluated | 29,723 | 35,001 | ||||
Allowance for credit losses, Total | 31,034 | $ 30,933 | 35,468 | $ 36,059 | $ 39,844 | $ 28,072 |
Total loans receivable, Loans individually evaluated for impairment | 4,927 | 8,821 | ||||
Total loans receivable, Loans collectively evaluated | 2,694,611 | 2,724,446 | ||||
Total loans receivable | 2,699,538 | 2,733,267 | ||||
Commercial Loans | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Total | 22,322 | 22,968 | 24,746 | 23,398 | 24,899 | 21,116 |
Total loans receivable | 2,032,839 | 1,968,035 | ||||
Commercial Loans | PPP | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | 0 | 0 | ||||
Allowance for credit losses, Loans collectively evaluated | 0 | 0 | ||||
Allowance for credit losses, Total | 0 | 0 | ||||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||||
Total loans receivable, Loans collectively evaluated | 2,756 | 46,650 | ||||
Total loans receivable | 2,756 | 46,650 | ||||
Commercial Loans | Commercial real estate | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | 0 | 456 | ||||
Allowance for credit losses, Loans collectively evaluated | 9,157 | 12,826 | ||||
Allowance for credit losses, Total | 9,157 | 13,282 | ||||
Total loans receivable, Loans individually evaluated for impairment | 284 | 5,729 | ||||
Total loans receivable, Loans collectively evaluated | 1,101,900 | 1,136,547 | ||||
Total loans receivable | 1,102,184 | 1,142,276 | ||||
Commercial Loans | Construction and development | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | 0 | 0 | ||||
Allowance for credit losses, Loans collectively evaluated | 3,680 | 1,801 | ||||
Allowance for credit losses, Total | 3,680 | 1,801 | ||||
Total loans receivable, Loans individually evaluated for impairment | 0 | 80 | ||||
Total loans receivable, Loans collectively evaluated | 251,668 | 179,347 | ||||
Total loans receivable | 251,668 | 179,427 | ||||
Commercial Loans | Commercial and industrial | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | 1,311 | 9 | ||||
Allowance for credit losses, Loans collectively evaluated | 1,593 | 2,583 | ||||
Allowance for credit losses, Total | 2,904 | 2,592 | ||||
Total loans receivable, Loans individually evaluated for impairment | 2,150 | 760 | ||||
Total loans receivable, Loans collectively evaluated | 165,192 | 140,581 | ||||
Total loans receivable | 167,342 | 141,341 | ||||
Commercial Loans | Equipment finance | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | 0 | 0 | ||||
Allowance for credit losses, Loans collectively evaluated | 6,284 | 6,537 | ||||
Allowance for credit losses, Total | 6,284 | 6,537 | ||||
Total loans receivable, Loans individually evaluated for impairment | 0 | 275 | ||||
Total loans receivable, Loans collectively evaluated | 378,629 | 317,645 | ||||
Total loans receivable | 378,629 | 317,920 | ||||
Commercial Loans | Municipal finance | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | 0 | 0 | ||||
Allowance for credit losses, Loans collectively evaluated | 297 | 534 | ||||
Allowance for credit losses, Total | 297 | 534 | ||||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||||
Total loans receivable, Loans collectively evaluated | 130,260 | 140,421 | ||||
Total loans receivable | 130,260 | 140,421 | ||||
Retail Consumer Loans | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Total | 8,712 | $ 7,965 | 10,722 | $ 12,661 | $ 14,945 | $ 6,956 |
Total loans receivable | 666,699 | 765,232 | ||||
Retail Consumer Loans | One-to-four family | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | 0 | 2 | ||||
Allowance for credit losses, Loans collectively evaluated | 4,400 | 5,407 | ||||
Allowance for credit losses, Total | 4,400 | 5,409 | ||||
Total loans receivable, Loans individually evaluated for impairment | 2,493 | 1,977 | ||||
Total loans receivable, Loans collectively evaluated | 345,452 | 404,572 | ||||
Total loans receivable | 347,945 | 406,549 | ||||
Retail Consumer Loans | HELOCs - originated | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | 0 | 0 | ||||
Allowance for credit losses, Loans collectively evaluated | 1,409 | 1,512 | ||||
Allowance for credit losses, Total | 1,409 | 1,512 | ||||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||||
Total loans receivable, Loans collectively evaluated | 128,445 | 130,225 | ||||
Total loans receivable | 128,445 | 130,225 | ||||
Retail Consumer Loans | HELOCs - purchased | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | 0 | 0 | ||||
Allowance for credit losses, Loans collectively evaluated | 295 | 452 | ||||
Allowance for credit losses, Total | 295 | 452 | ||||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||||
Total loans receivable, Loans collectively evaluated | 26,911 | 38,976 | ||||
Total loans receivable | 26,911 | 38,976 | ||||
Retail Consumer Loans | Construction and land/lots | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | 0 | 0 | ||||
Allowance for credit losses, Loans collectively evaluated | 903 | 812 | ||||
Allowance for credit losses, Total | 903 | 812 | ||||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||||
Total loans receivable, Loans collectively evaluated | 72,735 | 66,027 | ||||
Total loans receivable | 72,735 | 66,027 | ||||
Retail Consumer Loans | Indirect auto finance | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | 0 | 0 | ||||
Allowance for credit losses, Loans collectively evaluated | 1,586 | 2,367 | ||||
Allowance for credit losses, Total | 1,586 | 2,367 | ||||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||||
Total loans receivable, Loans collectively evaluated | 83,903 | 115,093 | ||||
Total loans receivable | 83,903 | 115,093 | ||||
Retail Consumer Loans | Consumer | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance for credit losses, Loans individually evaluated for impairment | 0 | 0 | ||||
Allowance for credit losses, Loans collectively evaluated | 119 | 170 | ||||
Allowance for credit losses, Total | 119 | 170 | ||||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||||
Total loans receivable, Loans collectively evaluated | 6,760 | 8,362 | ||||
Total loans receivable | $ 6,760 | $ 8,362 |
Loans and Allowance for Cred_11
Loans and Allowance for Credit Losses on Loans - Breakdown Between Loans Identified as CDAs and Non-CDAs (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | $ 2,699,538 | $ 2,733,267 |
Commercial Loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 2,032,839 | 1,968,035 |
Commercial Loans | PPP | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 2,756 | 46,650 |
Commercial Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 1,102,184 | 1,142,276 |
Commercial Loans | Construction and development | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 251,668 | 179,427 |
Commercial Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 167,342 | 141,341 |
Commercial Loans | Equipment finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 378,629 | 317,920 |
Commercial Loans | Municipal finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 130,260 | 140,421 |
Retail Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 666,699 | 765,232 |
Retail Consumer Loans | One-to-four family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 347,945 | 406,549 |
Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 128,445 | 130,225 |
Retail Consumer Loans | HELOCs - purchased | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 26,911 | 38,976 |
Retail Consumer Loans | Construction and land/lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 72,735 | 66,027 |
Retail Consumer Loans | Indirect auto finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 83,903 | 115,093 |
Retail Consumer Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 6,760 | 8,362 |
Residential Property | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 1,347 | 807 |
Total Collateral Value | 2,285 | 1,160 |
Residential Property | Commercial Loans | PPP | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Residential Property | Commercial Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Residential Property | Commercial Loans | Construction and development | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Residential Property | Commercial Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Residential Property | Commercial Loans | Equipment finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Residential Property | Commercial Loans | Municipal finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Residential Property | Retail Consumer Loans | One-to-four family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 1,347 | 807 |
Residential Property | Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Residential Property | Retail Consumer Loans | HELOCs - purchased | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Residential Property | Retail Consumer Loans | Construction and land/lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Residential Property | Retail Consumer Loans | Indirect auto finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Residential Property | Retail Consumer Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Investment Property | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 3,501 |
Total Collateral Value | 0 | 3,602 |
Investment Property | Commercial Loans | PPP | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Investment Property | Commercial Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 3,421 |
Investment Property | Commercial Loans | Construction and development | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 80 |
Investment Property | Commercial Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Investment Property | Commercial Loans | Equipment finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Investment Property | Commercial Loans | Municipal finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Investment Property | Retail Consumer Loans | One-to-four family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Investment Property | Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Investment Property | Retail Consumer Loans | HELOCs - purchased | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Investment Property | Retail Consumer Loans | Construction and land/lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Investment Property | Retail Consumer Loans | Indirect auto finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Investment Property | Retail Consumer Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Commercial Property | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 282 | 2,308 |
Total Collateral Value | 288 | 2,723 |
Commercial Property | Commercial Loans | PPP | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Commercial Property | Commercial Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 282 | 2,308 |
Commercial Property | Commercial Loans | Construction and development | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Commercial Property | Commercial Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Commercial Property | Commercial Loans | Equipment finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Commercial Property | Commercial Loans | Municipal finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Commercial Property | Retail Consumer Loans | One-to-four family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Commercial Property | Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Commercial Property | Retail Consumer Loans | HELOCs - purchased | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Commercial Property | Retail Consumer Loans | Construction and land/lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Commercial Property | Retail Consumer Loans | Indirect auto finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Commercial Property | Retail Consumer Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Business Assets | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 1,311 | 25 |
Total Collateral Value | 0 | 26 |
Business Assets | Commercial Loans | PPP | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Business Assets | Commercial Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Business Assets | Commercial Loans | Construction and development | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Business Assets | Commercial Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 1,311 | 25 |
Business Assets | Commercial Loans | Equipment finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Business Assets | Commercial Loans | Municipal finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Business Assets | Retail Consumer Loans | One-to-four family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Business Assets | Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Business Assets | Retail Consumer Loans | HELOCs - purchased | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Business Assets | Retail Consumer Loans | Construction and land/lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Business Assets | Retail Consumer Loans | Indirect auto finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Business Assets | Retail Consumer Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 0 | 0 |
Financial Assets Not Considered Collateral Dependent | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 2,696,598 | 2,726,626 |
Financial Assets Not Considered Collateral Dependent | Commercial Loans | PPP | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 2,756 | 46,650 |
Financial Assets Not Considered Collateral Dependent | Commercial Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 1,101,902 | 1,136,547 |
Financial Assets Not Considered Collateral Dependent | Commercial Loans | Construction and development | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 251,668 | 179,347 |
Financial Assets Not Considered Collateral Dependent | Commercial Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 166,031 | 141,316 |
Financial Assets Not Considered Collateral Dependent | Commercial Loans | Equipment finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 378,629 | 317,920 |
Financial Assets Not Considered Collateral Dependent | Commercial Loans | Municipal finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 130,260 | 140,421 |
Financial Assets Not Considered Collateral Dependent | Retail Consumer Loans | One-to-four family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 346,598 | 405,742 |
Financial Assets Not Considered Collateral Dependent | Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 128,445 | 130,225 |
Financial Assets Not Considered Collateral Dependent | Retail Consumer Loans | HELOCs - purchased | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 26,911 | 38,976 |
Financial Assets Not Considered Collateral Dependent | Retail Consumer Loans | Construction and land/lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 72,735 | 66,027 |
Financial Assets Not Considered Collateral Dependent | Retail Consumer Loans | Indirect auto finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | 83,903 | 115,093 |
Financial Assets Not Considered Collateral Dependent | Retail Consumer Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans receivable | $ 6,760 | $ 8,362 |
Loans and Allowance for Cred_12
Loans and Allowance for Credit Losses on Loans - Schedule of Debt Restructurings on Financing Receivables (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022USD ($)loan | Mar. 31, 2021USD ($)loan | Mar. 31, 2022USD ($)loan | Mar. 31, 2021USD ($)loan | |
Financing Receivable, Modifications | ||||
Number of loans | loan | 4 | 7,000 | 11,000 | 19 |
Pre-modification outstanding recorded investment | $ 883 | $ 293 | $ 1,250 | $ 5,105 |
Post-modification outstanding recorded investment | $ 877 | $ 318 | $ 1,233 | $ 5,071 |
Other TDR | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 11,000 | 19 | ||
Pre-modification outstanding recorded investment | $ 1,041 | $ 5,105 | ||
Post-modification outstanding recorded investment | $ 1,027 | $ 5,071 | ||
Extended Payment Terms | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 2 | 0 | ||
Pre-modification outstanding recorded investment | $ 85 | $ 0 | ||
Post-modification outstanding recorded investment | $ 85 | $ 0 | ||
Below Market Interest Rate | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 1 | 0 | ||
Pre-modification outstanding recorded investment | $ 124 | $ 0 | ||
Post-modification outstanding recorded investment | $ 121 | $ 0 | ||
Commercial Loans | Other TDR | Commercial real estate | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 0 | 1 | ||
Pre-modification outstanding recorded investment | $ 0 | $ 4,408 | ||
Post-modification outstanding recorded investment | $ 0 | $ 4,407 | ||
Commercial Loans | Other TDR | Commercial and industrial | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 2 | 0 | 2,000 | 0 |
Pre-modification outstanding recorded investment | $ 841 | $ 0 | $ 841 | $ 0 |
Post-modification outstanding recorded investment | $ 835 | $ 0 | $ 835 | $ 0 |
Retail Consumer Loans | One-to-four family | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 1 | 2,000 | 2,000 | 4 |
Pre-modification outstanding recorded investment | $ 37 | $ 212 | $ 93 | $ 269 |
Post-modification outstanding recorded investment | $ 37 | $ 212 | $ 92 | $ 261 |
Retail Consumer Loans | HELOCs - originated | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 0 | 2,000 | 1,000 | 2 |
Pre-modification outstanding recorded investment | $ 0 | $ 53 | $ 18 | $ 53 |
Post-modification outstanding recorded investment | $ 0 | $ 74 | $ 18 | $ 74 |
Retail Consumer Loans | Indirect auto finance | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 1 | 3,000 | 6,000 | 11 |
Pre-modification outstanding recorded investment | $ 5 | $ 28 | $ 89 | $ 150 |
Post-modification outstanding recorded investment | $ 5 | $ 32 | $ 82 | $ 110 |
Retail Consumer Loans | Other TDR | Construction and land/lots | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 0 | 1 | ||
Pre-modification outstanding recorded investment | $ 0 | $ 225 | ||
Post-modification outstanding recorded investment | $ 0 | $ 219 | ||
Retail Consumer Loans | Extended Payment Terms | One-to-four family | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 1 | 0 | ||
Pre-modification outstanding recorded investment | $ 35 | $ 0 | ||
Post-modification outstanding recorded investment | $ 35 | $ 0 | ||
Retail Consumer Loans | Extended Payment Terms | HELOCs - originated | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 1 | 0 | ||
Pre-modification outstanding recorded investment | $ 50 | $ 0 | ||
Post-modification outstanding recorded investment | $ 50 | $ 0 | ||
Retail Consumer Loans | Below Market Interest Rate | One-to-four family | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 1 | 0 | ||
Pre-modification outstanding recorded investment | $ 124 | $ 0 | ||
Post-modification outstanding recorded investment | $ 121 | $ 0 |
Loans and Allowance for Cred_13
Loans and Allowance for Credit Losses on Loans - Schedule of Troubled Debt Restructurings With Payment Default (Details) - Other TDR $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022USD ($)loan | Mar. 31, 2021USD ($)loan | Mar. 31, 2022USD ($)loan | Mar. 31, 2021USD ($)loan | |
Financing Receivable, Modifications | ||||
Number of loans | loan | 0 | 1 | 2 | 2 |
Recorded investment | $ | $ 0 | $ 1 | $ 44 | $ 26 |
Retail Consumer Loans | Indirect auto finance | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 0 | 1 | 2 | 2 |
Recorded investment | $ | $ 0 | $ 1 | $ 44 | $ 26 |
Net Income per Share - Schedule
Net Income per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Numerator: | ||||
Net income | $ 8,023 | $ 7,869 | $ 29,628 | $ 23,083 |
Allocation of earnings to participating securities | (69) | (72) | (254) | (209) |
Numerator for basic EPS - Net income available to common stockholders | 7,954 | 7,797 | 29,374 | 22,874 |
Dilutive effect of participating securities | 0 | 2 | 0 | 2 |
Numerator for diluted EPS | $ 7,954 | $ 7,799 | $ 29,374 | $ 22,876 |
Denominator: | ||||
Weighted-average common shares outstanding - basic (in shares) | 15,523,813 | 15,979,590 | 15,666,093 | 16,139,059 |
Dilutive effect of assumed exercises of stock options (in shares) | 269,199 | 506,128 | 331,284 | 200,071 |
Weighted-average common shares outstanding - diluted (in shares) | 15,793,012 | 16,485,718 | 15,997,377 | 16,339,130 |
Net income per share - basic (in dollars per share) | $ 0.51 | $ 0.49 | $ 1.87 | $ 1.42 |
Net income per share - diluted (in dollars per share) | $ 0.51 | $ 0.48 | $ 1.84 | $ 1.40 |
Net Income per Share - Antidilu
Net Income per Share - Antidilutive Stock Options (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Earnings Per Share [Abstract] | ||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 47,850 | 524,850 | 95,350,000 | 524,850 |
Equity Incentive Plan - Narrati
Equity Incentive Plan - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 17, 2013 | Mar. 31, 2022 | Mar. 31, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Equity incentive plan name | 2013 Omnibus Incentive Plan | |||||
Granted (in shares) | 42,850 | 44,750 | ||||
Nonvested, number of shares (in shares) | 171,150 | 239,750 | ||||
Remaining contractual life (years) | 4 years 3 months 18 days | 3 years 10 months 24 days | 3 years 10 months 24 days | 4 years 4 months 24 days | ||
Options outstanding (in shares) | 239,750 | |||||
Stock Options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Compensation cost not yet recognized | $ 1,076 | $ 1,460 | ||||
Remaining contractual life (years) | 5 years | 5 years | ||||
Compensation cost not yet recognized, period for recognition (in years) | 1 year 9 months 18 days | 2 years | ||||
Performance Restricted Shares | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period | 3 years | |||||
Non-vested (in shares) | 33,218 | 28,852 | ||||
Restricted Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Compensation cost not yet recognized, period for recognition (in years) | 1 year 10 months 24 days | 1 year 10 months 24 days | ||||
Compensation not yet recognized, share-based awards other than options | $ 3,137 | $ 3,196 | ||||
Non-vested (in shares) | 135,510 | 147,647 | 151,575 | 144,046 | ||
Restricted Stock | Vesting Period One | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period | 3 years | 3 years | ||||
Restricted Stock | Vesting Period Two | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period | 5 years | 5 years | ||||
2013 Omnibus Incentive Plan | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Equity incentive plan description | provides for awards of restricted stock, restricted stock units, stock options, stock appreciation rights and cash awards to directors, directors emeritus, officers, employees and advisory directors | |||||
Number of shares authorized (in shares) | 2,962,400 | |||||
Shares held for awards of stock options and stock appreciation rights (in shares) | 2,116,000 | |||||
Shares held for awards of restricted stock and restricted stock units (in shares) | 846,400 | |||||
Shares repurchased, amount | $ 13,297 | |||||
Shares repurchased, average cost per share (in usd per share) | $ 15.71 |
Equity Incentive Plan Equity In
Equity Incentive Plan Equity Incentive Plan - Share Based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | ||||
Share-based compensation expense | $ 507 | $ 489 | $ 1,407 | $ 1,449 |
Tax benefit | $ 120 | $ 115 | $ 332 | $ 341 |
Equity Incentive Plan - Stock O
Equity Incentive Plan - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | |
Options | ||||
Options Outstanding, Beginning of Period (in shares) | 1,319,456 | 1,615,500 | 1,615,500 | |
Granted (in shares) | 42,850 | 44,750 | ||
Exercised (in shares) | (413,636) | (172,866) | ||
Forfeited (in shares) | (20,800) | (26,900) | ||
Options Outstanding, End of period (in shares) | 927,870 | 1,460,484 | 1,319,456 | 1,615,500 |
Exercisable (in shares) | 756,720 | 1,220,734 | ||
Weighted- Average Exercise Price | ||||
Options Outstanding, Beginning of Period (in usd per share) | $ 19.07 | $ 18.12 | $ 18.12 | |
Granted (in usd per share) | 31.35 | 22.92 | ||
Exercised (in usd per share) | 14.70 | 14.40 | ||
Forfeited (in usd per share) | 23.17 | 25.77 | ||
Options Outstanding, End of Period (in usd per share) | 21.49 | 18.57 | $ 19.07 | $ 18.12 |
Exercisable (in usd per share) | $ 20.24 | $ 17.24 | ||
Remaining contractual life (years) | 4 years 3 months 18 days | 3 years 10 months 24 days | 3 years 10 months 24 days | 4 years 4 months 24 days |
Exercisable (in years) | 3 years 6 months | 3 years 2 months 12 days | ||
Aggregate intrinsic value | $ 7,541 | $ 9,268 | $ 11,657 | $ 1,711 |
Aggregate intrinsic value | $ 7,028 | $ 9,152 | ||
Non-vested Options | ||||
Nonvested, number of shares (in shares) | 171,150 | 239,750 | ||
Nonvested, weighted average grant date fair value (in dollars per share) | $ 26.99 | $ 25.31 | ||
Nonvested, contractual term (in years) | 7 years 8 months 12 days | 7 years 8 months 12 days | ||
Nonvested, intrinsic value | $ 513 | $ 116 |
Equity Incentive Plan - Assumpt
Equity Incentive Plan - Assumptions Used in Estimating Fair Value (Details) - $ / shares | 9 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | ||
Weighted-average volatility | 28.02% | 28.30% |
Expected dividend yield | 1.12% | 1.35% |
Risk-free interest rate | 1.90% | 0.72% |
Expected life (years) | 6 years 6 months | 6 years 6 months |
Weighted-average fair value of options granted (in dollars per share) | $ 8.68 | $ 5.61 |
Equity Incentive Plan - Schedul
Equity Incentive Plan - Schedule of Nonvested Restricted Stock Units Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | |
Weighted- Average Grant Date Fair Value | ||||
Aggregate intrinsic value | $ 7,028 | $ 9,152 | ||
Restricted Stock | ||||
Restricted Stock Awards | ||||
Non-vested, Beginning Balance (in shares) | 151,575 | 144,046 | ||
Granted (in shares) | 49,679 | 56,547 | ||
Vested (in shares) | (53,744) | (45,296) | ||
Forfeited (in shares) | (12,000) | (7,650) | ||
Non-vested, Ending Balance (in shares) | 135,510 | 147,647 | ||
Weighted- Average Grant Date Fair Value | ||||
Non-vested, Beginning Balance (in usd per share) | $ 25.06 | $ 25.89 | ||
Granted (in usd per share) | 31.35 | 22.92 | ||
Vested (in usd per share) | 25.22 | 25.17 | ||
Forfeitures (in dollars per share) | 24.90 | 25.65 | ||
Non-vested, Ending Balance (in usd per share) | $ 27.41 | $ 24.98 | ||
Aggregate intrinsic value | $ 2,817 | $ 2,119 | $ 4,229 | $ 2,305 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Mar. 31, 2022 | Jun. 30, 2021 | |
Other Commitments | ||
Unused commitments to extend credit | $ 95,848 | $ 123,463 |
Variable rate commitments | 29,156 | 45,270 |
Fixed rate commitments | 66,692 | 78,193 |
Remaining borrowing capacity | 498,315 | 530,505 |
Letters of credit outstanding | $ 17,492 | $ 8,681 |
Minimum | ||
Other Commitments | ||
Fixed interest rate (as a percent) | 1.08% | 2.50% |
Loan Commitments Terms | 3 years | |
Maximum | ||
Other Commitments | ||
Fixed interest rate (as a percent) | 8.65% | 8.36% |
Loan Commitments Terms | 30 years | |
Construction and development | ||
Other Commitments | ||
Unused commitments to extend credit | $ 290,532 | $ 277,600 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | $ 106,315 | $ 156,459 |
Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 106,315 | 156,459 |
Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
US Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 18,576 | 19,073 |
US Government Agencies | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
US Government Agencies | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 18,576 | 19,073 |
US Government Agencies | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
MBS, residential | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 34,063 | 43,404 |
MBS, residential | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
MBS, residential | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 34,063 | 43,404 |
MBS, residential | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Municipal bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 5,667 | 9,551 |
Municipal bonds | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Municipal bonds | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 5,667 | 9,551 |
Municipal bonds | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 48,009 | 84,431 |
Corporate bonds | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Corporate bonds | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 48,009 | 84,431 |
Corporate bonds | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | $ 0 | $ 0 |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments - Schedule of Fair Value Measurements, Nonrecurring (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | $ 164 | $ 5,116 |
Commercial Loans | Commercial Property | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 4,841 |
Commercial Loans | Commercial and industrial | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 164 | 275 |
Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 1 | Commercial Loans | Commercial Property | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 1 | Commercial Loans | Commercial and industrial | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 2 | Commercial Loans | Commercial Property | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 2 | Commercial Loans | Commercial and industrial | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 164 | 5,116 |
Fair Value, Inputs, Level 3 | Commercial Loans | Commercial Property | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 4,841 |
Fair Value, Inputs, Level 3 | Commercial Loans | Commercial and industrial | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | $ 164 | $ 275 |
Fair Value of Financial Instr_5
Fair Value of Financial Instruments - Schedule of Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Fair Value, Inputs, Level 1 | Cash and interest-bearing deposits | ||
Financial Instruments Owned | $ 52,050 | $ 50,990 |
Fair Value, Inputs, Level 1 | Commercial paper | ||
Financial Instruments Owned | 312,918 | 189,596 |
Fair Value, Inputs, Level 1 | Certificates of deposit in other banks | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Securities available for sale | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Loans held for sale | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Loans, net | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Small Business Investment Company Funds | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Accrued interest receivable | ||
Financial Instruments Owned | 0 | 52 |
Fair Value, Inputs, Level 1 | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Money market accounts | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Savings accounts | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Certificates of deposit | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Other borrowings | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Accrued interest payable | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | Cash and interest-bearing deposits | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | Commercial paper | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | Certificates of deposit in other banks | ||
Financial Instruments Owned | 28,125 | 40,122 |
Fair Value, Inputs, Level 2 | Securities available for sale | ||
Financial Instruments Owned | 106,315 | 156,459 |
Fair Value, Inputs, Level 2 | Loans held for sale | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | Loans, net | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | Small Business Investment Company Funds | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | Accrued interest receivable | ||
Financial Instruments Owned | 553 | 542 |
Fair Value, Inputs, Level 2 | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 1,356,921 | 1,281,372 |
Fair Value, Inputs, Level 2 | Money market accounts | ||
Financial Instruments Owned | 1,026,595 | 975,001 |
Fair Value, Inputs, Level 2 | Savings accounts | ||
Financial Instruments Owned | 232,831 | 226,391 |
Fair Value, Inputs, Level 2 | Certificates of deposit | ||
Financial Instruments Owned | 439,407 | 474,397 |
Fair Value, Inputs, Level 2 | Other borrowings | ||
Financial Instruments Owned | 29,997 | 115,000 |
Fair Value, Inputs, Level 2 | Accrued interest payable | ||
Financial Instruments Owned | 45 | 52 |
Fair Value, Inputs, Level 3 | Cash and interest-bearing deposits | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Commercial paper | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Certificates of deposit in other banks | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Securities available for sale | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Loans held for sale | ||
Financial Instruments Owned | 86,338 | 94,779 |
Fair Value, Inputs, Level 3 | Loans, net | ||
Financial Instruments Owned | 2,620,750 | 2,668,570 |
Fair Value, Inputs, Level 3 | Small Business Investment Company Funds | ||
Financial Instruments Owned | 12,589 | 10,171 |
Fair Value, Inputs, Level 3 | Accrued interest receivable | ||
Financial Instruments Owned | 7,427 | 7,339 |
Fair Value, Inputs, Level 3 | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Money market accounts | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Savings accounts | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Certificates of deposit | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Other borrowings | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Accrued interest payable | ||
Financial Instruments Owned | 0 | 0 |
Carrying Value | Cash and interest-bearing deposits | ||
Financial Instruments Owned | 52,050 | 50,990 |
Carrying Value | Commercial paper | ||
Financial Instruments Owned | 312,918 | 189,596 |
Carrying Value | Certificates of deposit in other banks | ||
Financial Instruments Owned | 28,125 | 40,122 |
Carrying Value | Securities available for sale | ||
Financial Instruments Owned | 106,315 | 156,459 |
Carrying Value | Loans held for sale | ||
Financial Instruments Owned | 85,263 | 93,539 |
Carrying Value | Loans, net | ||
Financial Instruments Owned | 2,668,504 | 2,697,799 |
Carrying Value | FHLB Stock | ||
Financial Instruments Owned | 3,038 | 6,153 |
Carrying Value | FRB Stock | ||
Financial Instruments Owned | 7,413 | 7,386 |
Carrying Value | Small Business Investment Company Funds | ||
Financial Instruments Owned | 12,589 | 10,171 |
Carrying Value | Accrued interest receivable | ||
Financial Instruments Owned | 7,980 | 7,933 |
Carrying Value | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 1,356,921 | 1,281,372 |
Carrying Value | Money market accounts | ||
Financial Instruments Owned | 1,026,595 | 975,001 |
Carrying Value | Savings accounts | ||
Financial Instruments Owned | 232,831 | 226,391 |
Carrying Value | Certificates of deposit | ||
Financial Instruments Owned | 442,810 | 472,777 |
Carrying Value | Other borrowings | ||
Financial Instruments Owned | 30,000 | 115,000 |
Carrying Value | Accrued interest payable | ||
Financial Instruments Owned | 45 | 52 |
Fair Value | Cash and interest-bearing deposits | ||
Financial Instruments Owned | 52,050 | 50,990 |
Fair Value | Commercial paper | ||
Financial Instruments Owned | 312,918 | 189,596 |
Fair Value | Certificates of deposit in other banks | ||
Financial Instruments Owned | 28,125 | 40,122 |
Fair Value | Securities available for sale | ||
Financial Instruments Owned | 106,315 | 156,459 |
Fair Value | Loans held for sale | ||
Financial Instruments Owned | 86,338 | 94,779 |
Fair Value | Loans, net | ||
Financial Instruments Owned | 2,620,750 | 2,668,570 |
Fair Value | Small Business Investment Company Funds | ||
Financial Instruments Owned | 12,589 | 10,171 |
Fair Value | Accrued interest receivable | ||
Financial Instruments Owned | 7,980 | 7,933 |
Fair Value | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 1,356,921 | 1,281,372 |
Fair Value | Money market accounts | ||
Financial Instruments Owned | 1,026,595 | 975,001 |
Fair Value | Savings accounts | ||
Financial Instruments Owned | 232,831 | 226,391 |
Fair Value | Certificates of deposit | ||
Financial Instruments Owned | 439,407 | 474,397 |
Fair Value | Other borrowings | ||
Financial Instruments Owned | 29,997 | 115,000 |
Fair Value | Accrued interest payable | ||
Financial Instruments Owned | $ 45 | $ 52 |
Fair Value of Financial Instr_6
Fair Value of Financial Instruments - Narrative (Details) $ in Thousands | Mar. 31, 2022USD ($) | Jun. 30, 2021USD ($) |
Fair Value off-balance sheet risks, amount, liability | $ 902,187 | $ 940,249 |
Minimum | Fair Value, Inputs, Level 3 | Real Estate Loans | Collateral discounts | ||
Level 3 fair value measurements during the period | 0.08 | |
Minimum | Fair Value, Inputs, Level 3 | Real Estate Loans | Discount Spread | ||
Level 3 fair value measurements during the period | 0.05 | |
Maximum | Fair Value, Inputs, Level 3 | Real Estate Loans | Collateral discounts | ||
Level 3 fair value measurements during the period | 0.12 | |
Maximum | Fair Value, Inputs, Level 3 | Real Estate Loans | Discount Spread | ||
Level 3 fair value measurements during the period | 0.15 |
Leases - Supplement Balance She
Leases - Supplement Balance Sheet (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Jun. 30, 2021 | |
Leases [Abstract] | |||
Renewal term (in years) | 15 years | ||
ROU assets | $ 6,172 | $ 5,498 | |
Lease liabilities | $ 6,961 | $ 5,926 | |
Weighted-average remaining lease terms (years) | 10 years 9 months 10 days | 9 years 5 months 26 days | |
Weighted-average discount rate | 2.89% | 3.18% | |
Finance lease, right-of-use asset | $ 2,052 | $ 2,052 | |
Finance lease, liability | 1,773 | $ 1,804 | |
Finance lease, interest expense | $ 23 | $ 70 | |
Finance lease, discount rate | 5.18% |
Leases - Maturity Schedule for
Leases - Maturity Schedule for Finance and Operating Leases (Details) - USD ($) $ in Thousands | Mar. 31, 2022 | Jun. 30, 2021 |
Operating Leases | ||
Remaining 2022 | $ 1,573 | |
2023 | 1,293 | |
2024 | 847 | |
2025 | 541 | |
2026 | 414 | |
Thereafter | 3,653 | |
Total lease liability | 8,321 | |
Less: amount representing interest | (1,360) | |
Lease liabilities | 6,961 | $ 5,926 |
Finance Leases | ||
Remaining 2022 | 33 | |
2023 | 134 | |
2024 | 145 | |
2025 | 146 | |
2026 | 146 | |
Thereafter | 1,702 | |
Total undiscounted minimum lease payments | 2,306 | |
Less: amount representing interest | (533) | |
Total lease liability | $ 1,773 | $ 1,804 |
Leases - Schedule of Lease Cost
Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Leases [Abstract] | ||||
Operating lease cost (included in occupancy expense, net) | $ 347 | $ 398 | $ 1,215 | $ 1,192 |
Variable lease cost (included in occupancy expense, net) | 7 | 6 | 13 | 18 |
Sublease income (included in other, noninterest income) | (60) | (33) | (154) | (147) |
Total operating lease expense, net | $ 294 | $ 371 | $ 1,074 | $ 1,063 |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Leases [Abstract] | ||
ROU assets - noncash additions (operating leases) | $ 1,186 | $ 599 |
Cash paid for amounts included in the measurement of lease liabilities (operating leases) | 1,281 | 1,632 |
Cash paid for amounts included in the measurement of lease liabilities (finance leases) | $ 100 | $ 100 |
Leases - Lessor, Narrative (Det
Leases - Lessor, Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Jun. 30, 2021 | |
Lessor, Lease, Description [Line Items] | |||||
Leased asset | $ 21,117 | $ 21,117 | $ 25,932 | ||
Operating lease, residual value of leased asset | 12,941 | 12,941 | 15,330 | ||
Direct financing lease, interest income | 763 | $ 638 | 2,275 | $ 1,736 | |
Direct financing lease, lease receivable | $ 62,600 | $ 62,600 | $ 63,300 | ||
Minimum | |||||
Lessor, Lease, Description [Line Items] | |||||
Term of contract | 1 year | 1 year | |||
Maximum | |||||
Lessor, Lease, Description [Line Items] | |||||
Term of contract | 5 years | 5 years |
Leases - Total Equipment Financ
Leases - Total Equipment Finance Operating Lease Income and Depreciation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | |
Leases [Abstract] | ||||
Operating lease income | $ 1,661 | $ 1,432 | $ 4,920 | $ 4,107 |
Depreciation expense | $ 1,339 | $ 1,417 | $ 4,221 | $ 4,371 |
Leases - Lessor, Fiscal Year Ma
Leases - Lessor, Fiscal Year Maturity Schedule (Details) $ in Thousands | Mar. 31, 2022USD ($) |
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract] | |
Remaining 2022 | $ 1,436 |
2023 | 4,989 |
2024 | 2,895 |
2025 | 889 |
2026 | 246 |
Thereafter | 13 |
Total of future minimum lease payments | 10,468 |
Financing Leases | |
Remaining 2022 | 5,853 |
2023 | 21,226 |
2024 | 18,262 |
2025 | 13,038 |
2026 | 8,405 |
Thereafter | 4,299 |
Total undiscounted minimum lease payments | 71,083 |
Less: amount representing interest | (8,476) |
Total lease receivable | $ 62,607 |
Uncategorized Items - htbi-2022
Label | Element | Value |
Accounting Standards Update [Extensible List] | us-gaap_AccountingStandardsUpdateExtensibleList | us-gaap:AccountingStandardsUpdate201613Member |