v3.25.2
Securities (Tables)
 12 Months Ended
Jun. 30, 2025
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities
The following tables present the amortized cost, gross unrealized gains and losses and estimated fair values for available for sale securities and the amortized cost, gross unrecognized gains and losses and estimated fair values for held to maturity securities as of the dates indicated.
June 30, 2025
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Allowance for
Credit Losses		Fair
Value
(In Thousands)
Available for sale:
Debt securities:
Asset-backed securities$60,255 $59 $816 $— $59,498 
Collateralized loan obligations322,407 956 118 — 323,245 
Corporate bonds149,550 235 9,668 — 140,117 
Total debt securities532,212 1,250 10,602 — 522,860 
Mortgage-backed securities:
Residential pass-through securities (1)440,168 329 83,178 — 357,319 
Commercial pass-through securities (1)152,731 436 20,377 — 132,790 
Total mortgage-backed securities592,899 765 103,555 — 490,109 
Total securities available for sale$1,125,111 $2,015 $114,157 $— $1,012,969 
________________________________________
(1)Government-sponsored enterprises.
June 30, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Allowance for
Credit Losses		Fair
Value
(In Thousands)
Available for sale:
Debt securities:
Asset-backed securities$80,305 $217 $82 $— $80,440 
Collateralized loan obligations386,983 2,574 14 — 389,543 
Corporate bonds150,891 64 19,158 — 131,797 
Total debt securities618,179 2,855 19,254 — 601,780 
Mortgage-backed securities:
Residential pass-through securities (1)429,473 2 92,211 — 337,264 
Commercial pass-through securities (1)155,854 63 22,128 — 133,789 
Total mortgage-backed securities585,327 65 114,339 — 471,053 
Total securities available for sale$1,203,506 $2,920 $133,593 $— $1,072,833 
________________________________________
(1)Government-sponsored enterprises.
Amortized Cost, Gross Unrecognized Gains and Losses and Fair Values of Securities
June 30, 2025
Amortized
Cost		Gross
Unrecognized
Gains		Gross
Unrecognized
Losses		Allowance for
Credit Losses		Fair
Value
(In Thousands)
Held to maturity:
Debt securities:
Obligations of state and political subdivisions$7,553 $1 $74 $— $7,480 
Total debt securities7,553 1 74 — 7,480 
Mortgage-backed securities:
Residential pass-through securities (1)
100,482 102 12,024 — 88,560 
Commercial pass-through securities (1)
12,182 — 1,510 — 10,672 
Total mortgage-backed securities112,664 102 13,534 — 99,232 
Total securities held to maturity$120,217 $103 $13,608 $— $106,712 
________________________________________
(1)Government-sponsored enterprises.
June 30, 2024
Amortized
Cost		Gross
Unrecognized
Gains		Gross
Unrecognized
Losses		Allowance for
Credit Losses		Fair
Value
(In Thousands)
Held to maturity:
Debt securities:
Obligations of state and political subdivisions$12,913 $— $277 $— $12,636 
Total debt securities12,913 — 277 — 12,636 
Mortgage-backed securities:
Residential pass-through securities (1)
110,614 — 14,134 — 96,480 
Commercial pass-through securities (1)
12,215 — 2,053 — 10,162 
Total mortgage-backed securities122,829 — 16,187 — 106,642 
Total securities held to maturity$135,742 $— $16,464 $— $119,278 
________________________________________
(1)Government-sponsored enterprises.
Stratification by Contractual Maturity of Securities
Excluding the balances of mortgage-backed securities, the following tables present the amortized cost and estimated fair values of debt securities available for sale and held to maturity, by contractual maturity, at June 30, 2025:
June 30, 2025
Amortized
Cost		Fair
Value
(In Thousands)
Available for sale debt securities:
Due in one year or less$— $— 
Due after one year through five years22,025 21,258 
Due after five years through ten years407,610 399,835 
Due after ten years102,577 101,767 
Total$532,212 $522,860 
June 30, 2025
Amortized
Cost		Fair
Value
(In Thousands)
Held to maturity debt securities:
Due in one year or less$3,229 $3,215 
Due after one year through five years4,324 4,265 
Due after five years through ten years— — 
Due after ten years— — 
Total$7,553 $7,480 
Sales of Securities Available for Sale
Sales of securities available for sale were as follows for the periods presented below:
Year Ended June 30,
202520242023
(In Thousands)
Available for sale securities sold:
Proceeds from sales of securities$— $104,083 $105,199 
Gross realized losses$— $(18,135)$(15,227)
Net (loss) gain on sales of securities$— $(18,135)$(15,227)
Schedule of Available for Sale Securities Pledged
The carrying value of securities pledged for potential borrowings at the Federal Reserve Bank of New York and securities pledged for public funds and other purposes, were as follows as of the dates presented below:
June 30,
2025		June 30,
2024
(In Thousands)
Securities pledged:  
  Pledged to secure public funds on deposit$475,234 $100,238 
  Pledged for potential borrowings at the Federal Reserve Bank of New York66,811 482,044 
  Pledged for the bank term funding program—88,899
Total carrying value of securities pledged$542,045 $671,181 
Schedule of Fair Values and Gross Unrealized and Unrecognized Losses on Investments
The following tables present the gross unrealized losses on securities and the estimated fair value of the related securities, aggregated by investment category and length of time that securities have been in a continuous unrealized loss position within the available for sale portfolio at June 30, 2025 and 2024:
June 30, 2025
Less than 12 Months12 Months or MoreTotal
Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Number of SecuritiesFair
Value		Unrealized
Losses
(Dollars in Thousands)
Securities Available for Sale:
Asset-backed securities$29,860 $493 $18,526 $323 7$48,386 $816 
Collateralized loan obligations105,251 82 14,964 36 8120,215 118 
Corporate bonds1,987 38 112,395 9,630 22114,382 9,668 
Commercial pass-through securities— — 109,817 20,377 7109,817 20,377 
Residential pass-through securities21,942 109 314,871 83,069 99336,813 83,178 
Total$159,040 $722 $570,573 $113,435 143$729,613 $114,157 
June 30, 2024
Less than 12 Months12 Months or MoreTotal
Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Number of SecuritiesFair
Value		Unrealized
Losses
(Dollars in Thousands)
Securities Available for Sale:
Asset-backed securities$14,093 $16 $43,411 $66 8$57,504 $82 
Collateralized loan obligations3,863 — 24,986 14 428,849 14 
Corporate bonds— — 121,733 19,158 26121,733 19,158 
Commercial pass-through securities— — 110,741 22,128 8110,741 22,128 
Residential pass-through securities141 2 336,772 92,209 103336,913 92,211 
Total$18,097 $18 $637,643 $133,575 149$655,740 $133,593