v3.25.2
Loans Receivable (Tables)
 12 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Schedule of Loans Receivable
The following table sets forth the composition of the Company’s loan portfolio at June 30, 2025 and 2024:
June 30,
2025		June 30,
2024
(In Thousands)
Commercial loans:
Multi-family mortgage$2,709,654 $2,645,851 
Nonresidential mortgage986,556 948,075 
Commercial business138,755 142,747 
Construction177,713 209,237 
Total commercial loans4,012,678 3,945,910 
One- to four-family residential mortgage1,748,591 1,756,051 
Consumer loans:
Home equity loans 50,737 44,104 
Other consumer2,533 2,685 
Total consumer loans53,270 46,789 
Total loans5,814,539 5,748,750 
Unaccreted yield adjustments (1)
(1,602)(15,963)
Total loans receivable, net of yield adjustments$5,812,937 $5,732,787 
___________________________
(1)At June 30, 2025 and 2024, included a fair value adjustment to the carrying amount of hedged one- to four-family residential mortgage loans.
Contractual Payment Status of Past Loans Receivable The following tables present the payment status of past due loans as of June 30, 2025 and 2024, by loan segment:
Payment Status
June 30, 2025
30-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(In Thousands)
Multi-family mortgage$— $5,270 $22,218 $27,488 $2,682,166 $2,709,654 
Nonresidential mortgage926 — 4,937 5,863 980,693 986,556 
Commercial business— 400 1,301 1,701 137,054 138,755 
Construction— — — — 177,713 177,713 
One- to four-family residential mortgage1,350 2,890 3,643 7,883 1,740,708 1,748,591 
Home equity loans 176 96 204 476 50,261 50,737 
Other consumer— — — — 2,533 2,533 
Total loans$2,452 $8,656 $32,303 $43,411 $5,771,128 $5,814,539 
Payment Status
June 30, 2024
30-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(In Thousands)
Multi-family mortgage$— $— $19,888 $19,888 $2,625,963 $2,645,851 
Nonresidential mortgage6,149 — 3,249 9,398 938,677 948,075 
Commercial business37 64 613 714 142,033 142,747 
Construction— — — — 209,237 209,237 
One- to four-family residential mortgage800 2,951 2,877 6,628 1,749,423 1,756,051 
Home equity loans 208 — 44 252 43,852 44,104 
Other consumer— — 5 5 2,680 2,685 
Total loans$7,194 $3,015 $26,676 $36,885 $5,711,865 $5,748,750 
Performance Status of Loans Receivable
The following tables present information relating to the Company’s nonperforming loans as of June 30, 2025 and 2024:
Performance Status
June 30, 2025
90 Days and Over Past Due AccruingNonaccrual Loans with Allowance for
Credit Losses		Nonaccrual Loans with no Allowance for
Credit Losses		Total NonperformingPerformingTotal
(In Thousands)
Multi-family mortgage$— $15,867 $14,990 $30,857 $2,678,797 $2,709,654 
Nonresidential mortgage— — 5,763 5,763 980,793 986,556 
Commercial business— 1,930 293 2,223 136,532 138,755 
Construction— — — — 177,713 177,713 
One- to four-family residential mortgage— 2,862 3,688 6,550 1,742,041 1,748,591 
Home equity loans — 188 16 204 50,533 50,737 
Other consumer— — — — 2,533 2,533 
Total loans$— $20,847 $24,750 $45,597 $5,768,942 $5,814,539 
Performance Status
June 30, 2024
90 Days and Over Past Due AccruingNonaccrual Loans with Allowance for
Credit Losses		Nonaccrual Loans with no Allowance for
Credit Losses		Total NonperformingPerformingTotal
(In Thousands)
Multi-family mortgage$— $— $22,591 $22,591 $2,623,260 $2,645,851 
Nonresidential mortgage— 5,695 4,128 9,823 938,252 948,075 
Commercial business— 714 — 714 142,033 142,747 
Construction— — — — 209,237 209,237 
One- to four-family residential mortgage— 2,295 4,410 6,705 1,749,346 1,756,051 
Home equity loans — — 44 44 44,060 44,104 
Other consumer— — 5 5 2,680 2,685 
Total loans$— $8,704 $31,178 $39,882 $5,708,868 $5,748,750 
Troubled Debt Restructurings of Loans Receivable
The following tables present the amortized cost basis at June 30, 2025 and 2024, of loan modifications made to borrowers experiencing financial difficulty that were restructured during the fiscal years ended June 30, 2025 and 2024, by type of modification:
Year Ended June 30, 2025
Payment DelayTerm ExtensionPayment Delay, Term Extension and Interest Rate ReductionsTotalPercent of Total Class
(Dollars In Thousands)
Multi-family mortgage$31,135 $— $2,582 $33,717 1.24 %
Nonresidential mortgage169 — — 169 0.02 %
Commercial business44 — — 44 0.03 %
Total$31,348 $— $2,582 $33,930 
Year Ended June 30, 2024
Payment DelayTerm ExtensionPayment Delay, Term Extension and Interest Rate ReductionsTotalPercent of Total Class
(Dollars In Thousands)
Multi-family mortgage$2,774 $— $— $2,774 0.10 %
Nonresidential mortgage— 786 — 786 0.08 %
Commercial business45 — — 45 0.03 %
One- to four-family residential mortgage960 45 — 1,005 0.06 %
Home equity loans— 25 — 25 0.06 %
Total$3,779 $856 $— $4,635 
The following table presents the payment status of the loans that were modified to borrowers experiencing financial difficulties in the last twelve months:

June 30, 2025
Current30-89 Days Past Due90 Days or More Past DueTotal Past DueNon-Accrual
(Dollars In Thousands)
Multi-family mortgage$22,571 $2,582 $8,564 $11,146 $14,515 
Nonresidential mortgage169 — — — 169 
Commercial business44 — — — 44 
Total$22,784 $2,582 $8,564 $11,146 $14,728 
Carrying Value of Collateral Dependent Individually Analyzed Loans
The following table presents the carrying value and related allowance of collateral dependent individually analyzed loans at the dates indicated:
June 30, 2025June 30, 2024
Carrying ValueRelated AllowanceCarrying ValueRelated Allowance
(In Thousands)
Commercial loans:
Multi-family mortgage$30,808 $1,377 $22,591 $— 
Nonresidential mortgage (1)
4,697 — 8,598 508 
Total commercial loans35,505 1,377 31,189 508 
One- to four-family residential mortgage (2)
2,264 — 1,406 — 
Consumer loans:
Home equity loans (2)
16 — 18 — 
Total $37,785 $1,377 $32,613 $508 
________________________________________
(1)Secured by income-producing nonresidential property.
(2)Secured by one- to four-family residential properties.
Credit-Rating Classification of Loans Receivable
The following table presents the risk category of loans as of June 30, 2025 by loan segment and vintage year:
Term Loans by Origination Year for Fiscal Years ended June 30,Revolving Loans
20252024202320222021PriorTotal
(In Thousands)
Multi-family mortgage:
Pass$146,525 $26,430 $591,647 $939,414 $219,907 $720,674 $— $2,644,597 
Special Mention— — — — — — — — 
Substandard— — — — 11,830 53,227 — 65,057 
Doubtful— — — — — — — — 
Total multi-family mortgage146,525 26,430 591,647 939,414 231,737 773,901 — 2,709,654 
Multi-family current period gross charge-offs— — — — — — — — 
Nonresidential mortgage:
Pass132,407 81,426 102,965 190,781 107,519 352,364 49 967,511 
Special Mention— — — — 945 6,187 — 7,132 
Substandard— — — — 851 11,062 — 11,913 
Doubtful— — — — — — — — 
Total nonresidential mortgage132,407 81,426 102,965 190,781 109,315 369,613 49 986,556 
Nonresidential current period gross charge-offs— — — — — 830 — 830 
Commercial business:
Pass23,729 9,355 5,718 20,915 14,264 7,608 53,647 135,236 
Special Mention— — — 1,043 125 — — 1,168 
Substandard87 400 — — — 1,735 129 2,351 
Doubtful— — — — — — — — 
Total commercial business23,816 9,755 5,718 21,958 14,389 9,343 53,776 138,755 
Commercial current period gross charge-offs— — — — — 295 — 295 
Construction loans:
Pass41,990 85,712 — 979 8,991 3,362 5,735 146,769 
Special Mention— — — — 5,950 — — 5,950 
Substandard— 4,500 — — 20,494 — — 24,994 
Doubtful— — — — — — — — 
Total construction loans41,990 90,212 — 979 35,435 3,362 5,735 177,713 
Construction current period gross charge-offs— — — — — — — — 
Residential mortgage:
Pass138,854 160,333 174,947 410,255 432,804 417,105 5 1,734,303 
Special Mention— — — — — 687 — 687 
Substandard— 299 1,459 773 799 10,271 — 13,601 
Doubtful— — — — — — — — 
Total residential mortgage138,854 160,632 176,406 411,028 433,603 428,063 5 1,748,591 
Residential current period gross charge-offs— — — — — 2 — 2 
Home equity loans:
Pass800 1,690 4,606 1,648 302 7,612 33,553 50,211 
Special Mention— — — — — — 96 96 
Substandard— 96 — 83 — 180 71 430 
Doubtful— — — — — — — — 
Total home equity loans800 1,786 4,606 1,731 302 7,792 33,720 50,737 
Home equity current period gross charge-offs— — — — — 2 — 2 
Other consumer loans:
Pass605 343 189 86 236 976 26 2,461 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — 72 72 
Other consumer loans605 343 189 86 236 976 98 2,533 
Other consumer current period gross charge-offs— — — — — 7 — 7 
Total loans$484,997 $370,584 $881,531 $1,565,977 $825,017 $1,593,050 $93,383 $5,814,539 
Total current period gross charge-offs$— $— $— $— $— $1,136 $— $1,136 
The following table presents the risk category of loans as of June 30, 2024 by loan segment and vintage year:
Term Loans by Origination Year for Fiscal Years ended June 30,Revolving Loans
20242023202220212020PriorTotal
(In Thousands)
Multi-family mortgage:
Pass$26,683 $596,321 $949,690 $219,850 $201,611 $607,332 $— $2,601,487 
Special Mention— — — — — 6,475 — 6,475 
Substandard— — — 9,570 — 28,319 — 37,889 
Doubtful— — — — — — — — 
Total multi-family mortgage26,683 596,321 949,690 229,420 201,611 642,126 — 2,645,851 
Multi-family current period gross charge-offs— — — — — 398 — 398 
Nonresidential mortgage:
Pass87,380 105,768 199,829 90,312 44,598 389,680 30 917,597 
Special Mention— — — 447 — 14,714 — 15,161 
Substandard— — — 867 — 14,450 — 15,317 
Doubtful— — — — — — — — 
Total nonresidential mortgage87,380 105,768 199,829 91,626 44,598 418,844 30 948,075 
Nonresidential current period gross charge-offs— — — — — 5,975 — 5,975 
Commercial business:
Pass12,152 8,273 27,615 18,242 4,337 7,863 56,592 135,074 
Special Mention— — 1,559 437 — 1,754 — 3,750 
Substandard— — — — 1,767 2,003 153 3,923 
Doubtful— — — — — — — — 
Total commercial business12,152 8,273 29,174 18,679 6,104 11,620 56,745 142,747 
Commercial current period gross charge-offs— — — 3,391 464 11 — 3,866 
Construction loans:
Pass51,261 45,180 14,284 62,584 2,602 3,647 5,735 185,293 
Special Mention3,450 — — 20,494 — — — 23,944 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total construction loans54,711 45,180 14,284 83,078 2,602 3,647 5,735 209,237 
Residential mortgage:
Pass185,034 184,737 431,346 458,696 77,442 406,677 291 1,744,223 
Special Mention— — — — — 1,453 — 1,453 
Substandard— 509 796 — — 9,070 — 10,375 
Doubtful— — — — — — — — 
Total residential mortgage185,034 185,246 432,142 458,696 77,442 417,200 291 1,756,051 
Residential current period gross charge-offs— — — — — 37 — 37 
Home equity loans:
Pass1,919 5,698 2,173 347 1,019 8,086 24,535 43,777 
Special Mention— — — — — — 93 93 
Substandard— — — — — 234 — 234 
Doubtful— — — — — — — — 
Total home equity loans1,919 5,698 2,173 347 1,019 8,320 24,628 44,104 
Other consumer loans:
Pass804 211 204 127 224 990 39 2,599 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — 86 86 
Other consumer loans804 211 204 127 224 990 125 2,685 
Total loans$368,683 $946,697 $1,627,496 $881,973 $333,600 $1,502,747 $87,554 $5,748,750 
Total current period gross charge-offs$— $— $— $3,391 $464 $6,421 $— $10,276