v3.26.1
LOANS RECEIVABLE
 9 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
LOANS RECEIVABLE LOANS RECEIVABLE
The following table sets forth the composition of the Company’s loan portfolio at March 31, 2026 and June 30, 2025:
March 31,
2026		June 30,
2025
(In Thousands)
Commercial loans:
Multi-family mortgage$2,555,001 $2,709,654 
Nonresidential mortgage1,012,422 986,556 
Commercial business201,277 138,755 
Construction207,765 177,713 
Total commercial loans3,976,465 4,012,678 
One- to four-family residential mortgage1,741,023 1,748,591 
Consumer loans:
Home equity loans61,379 50,737 
Other consumer2,377 2,533 
Total consumer loans63,756 53,270 
Total loans5,781,244 5,814,539 
Unaccreted yield adjustments (1)
(2,063)(1,602)
Total loans receivable, net of yield adjustments$5,779,181 $5,812,937 
___________________________
(1)At March 31, 2026 and June 30, 2025, included a fair value adjustment to the carrying amount of hedged one- to four-family residential mortgage loans.
Past Due Loans
Past due status is based on the contractual payment terms of the loans. The following tables present the payment status of past due loans as of March 31, 2026 and June 30, 2025, by loan segment:
Payment Status
March 31, 2026
30-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(In Thousands)
Multi-family mortgage$— $1,521 $30,822 $32,343 $2,522,658 $2,555,001 
Nonresidential mortgage896 461 4,917 6,274 1,006,148 1,012,422 
Commercial business37 — 259 296 200,981 201,277 
Construction— — 2,755 2,755 205,010 207,765 
One- to four-family residential mortgage2,964 141 4,039 7,144 1,733,879 1,741,023 
Home equity loans204 113 106 423 60,956 61,379 
Other consumer— — — — 2,377 2,377 
Total loans$4,101 $2,236 $42,898 $49,235 $5,732,009 $5,781,244 
Payment Status
June 30, 2025
30-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(In Thousands)
Multi-family mortgage$— $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 loans176 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 $5,814,539 
Nonperforming Loans
Loans are generally placed on nonaccrual status when contractual payments become 90 or more days past due or when the Company does not expect to receive all principal and interest payments owed substantially in accordance with the terms of the loan agreement, regardless of past due status. Loans that become 90 days or more past due, but are well secured and in the process of collection, may remain on accrual status. Nonaccrual loans are generally returned to accrual status when all payments due are brought current and the Company expects to receive all remaining principal and interest payments owed substantially in accordance with the terms of the loan agreement. Payments received in cash on nonaccrual loans, including both the principal and interest portions of those payments, are generally applied to reduce the carrying value of the loan. The Company did not recognize interest income on non-accrual loans during the nine months ended March 31, 2026 and 2025.
The following tables present information relating to the Company’s nonperforming loans as of March 31, 2026 and June 30, 2025:
Performance Status
March 31, 2026
90 Days and Over Past Due AccruingNonaccrual Loans with Allowance for Credit LossesNonaccrual Loans with no Allowance for Credit LossesTotal NonperformingPerformingTotal
(In Thousands)
Multi-family mortgage$— $8,802 $29,314 $38,116 $2,516,885 $2,555,001 
Nonresidential mortgage— — 5,679 5,679 1,006,743 1,012,422 
Commercial business— 206 330 536 200,741 201,277 
Construction— — 2,755 2,755 205,010 207,765 
One- to four-family residential mortgage— 1,232 3,864 5,096 1,735,927 1,741,023 
Home equity loans— 83 114 197 61,182 61,379 
Other consumer— — — — 2,377 2,377 
Total loans$— $10,323 $42,056 $52,379 $5,728,865 $5,781,244 
Performance Status
June 30, 2025
90 Days and Over Past Due AccruingNonaccrual Loans with Allowance for Credit LossesNonaccrual Loans with no Allowance for Credit LossesTotal NonperformingPerformingTotal
(In Thousands)
Multi-family mortgage$— $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 
Loan Modifications Made to Borrowers Experiencing Financial Difficulty

The following table presents the amortized cost basis at March 31, 2026 and March 31, 2025 of loan modifications made to borrowers experiencing financial difficulty that were restructured during the three and nine months ended March 31, 2026 and 2025, by type of modification:
Three Months Ended March 31, 2026
Payment DelayTerm ExtensionPayment Delay, Term Extension, and Interest Rate ReductionsTotalPercent of Total Class
(Dollars In Thousands)
Multi-family mortgage$— $— $24,678 $24,678 0.97 %
Total$— $— $24,678 $24,678 

Nine Months Ended March 31, 2026
Payment DelayTerm ExtensionPayment Delay, Term Extension, and Interest Rate ReductionsTotalPercent of Total Class
(Dollars In Thousands)
Multi-family mortgage$2,413 $— $24,678 $27,091 1.06 %
Commercial business716 — — 716 0.36 %
Total$3,129 $— $24,678 $27,807 


Three Months Ended March 31, 2025
Payment DelayTerm ExtensionPayment Delay, Term Extension, and Interest Rate ReductionsTotalPercent of Total Class
(Dollars In Thousands)
Multi-family mortgage$7,137 $— $— $7,137 0.26 %
Commercial business44 — — 44 0.03 %
Total$7,181 $— $— $7,181 

Nine Months Ended March 31, 2025
Payment DelayTerm ExtensionPayment Delay, Term Extension, and Interest Rate ReductionsTotalPercent of Total Class
(Dollars In Thousands)
Multi-family mortgage$31,181 $— $2,606 $33,787 1.24 %
Nonresidential mortgage173 — — 173 0.02 %
Commercial business44 — — 44 0.03 %
Total$31,398 $— $2,606 $34,004 

No modifications involved forgiveness of principal for the three and nine months ended March 31, 2026 and March 31, 2025, respectively. At March 31, 2026 and March 31, 2025, there were no commitments to lend additional funds to borrowers experiencing financial difficulty whose terms have been restructured.

Of the loans restructured during the three and nine months ended March 31, 2026 and March 31, 2025, there were no subsequent defaults as of March 31, 2026. For restructured loans, a subsequent payment default is defined in terms of delinquency, when a principal or interest payment is 90 days past due or classified into non-accrual status during the reporting period.
The following table presents the performance status of the loans that were modified in the last twelve months to borrowers experiencing financial difficulties:
March 31, 2026
Current30-89 Days Past Due90 Days or More Past DueTotal Past DueNon-Accrual
(Dollars In Thousands)
Multi-family mortgage$30,369 $— $— $— $3,277 
Commercial business716— — — —
Total$31,085 $— $— $— $3,277 
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 
Individually Analyzed Loans
Individually analyzed loans include loans which do not share similar risk characteristics with other loans. Loans previously modified as TDRs and loan modifications made to borrowers experiencing financial difficulty are generally evaluated for individual impairment. However, after a period of sustained repayment performance which permits the credit to be returned to accrual status, the loans are generally removed from individual impairment analysis and returned to its corresponding pool. As of March 31, 2026, the carrying value of individually analyzed loans, including loans acquired with deteriorated credit quality that were individually analyzed, totaled $52.4 million, of which $46.0 million were considered collateral dependent.
For collateral dependent loans where management has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and repayment of the loan is to be provided substantially through the operation or sale of the collateral, the allowance for credit losses is measured based on the difference between the fair value of the collateral, less costs to sell, and the amortized cost basis of the loan as of the measurement date. See Note 12 for additional disclosure regarding fair value of individually analyzed collateral dependent loans.
The following table presents the carrying value and related allowance of collateral dependent individually analyzed loans at the dates indicated:
March 31, 2026June 30, 2025
Carrying ValueRelated AllowanceCarrying ValueRelated Allowance
(In Thousands)
Commercial loans:
Multi-family mortgage$37,972 $886 $30,808 $1,377 
Nonresidential mortgage (1)
4,697 — 4,697 — 
Commercial business (2)
53 — — — 
Construction2,755 — — — 
Total commercial loans45,477 886 35,505 1,377 
One- to four-family residential mortgage (2)
516 — 2,264 — 
Consumer loans:
Home equity loans (2)
14 — 16 — 
Total$46,007 $886 $37,785 $1,377 
___________________________
(1)Secured by income-producing nonresidential property.
(2)Secured by one- to four-family residential properties.
Credit Quality Indicators
The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually to classify the loans as to credit risk. The Company uses the following definitions for risk ratings:
Pass – Loans that are well protected by the current net worth and paying capacity of the obligor (or guarantors, if any) or by the fair value, less cost to acquire and sell, of any underlying collateral in a timely manner.
Special Mention – Loans which do not currently expose the Company to a sufficient degree of risk to warrant an adverse classification but have some credit deficiencies or other potential weaknesses.
Substandard – Loans which are inadequately protected by the paying capacity and net worth of the obligor or the collateral pledged, if any. Substandard assets include those characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.
Doubtful – Loans which have all of the weaknesses inherent in those classified as Substandard, with the added characteristic that the weaknesses present make collection or liquidation in full highly questionable and improbable, on the basis of currently existing facts, conditions and values.
Loss – Loans which are considered uncollectible or of so little value that their continuance as assets is not warranted.
The following table presents the risk category of loans and current period gross charge-offs as of March 31, 2026 by loan segment and vintage year:
Term Loans by Origination Year for Fiscal Years ended June 30,
20262025202420232022PriorRevolving LoansTotal
(In Thousands)
Multi-family mortgage:
Pass$19,035 $143,550 $26,219 $574,744 $881,707 $839,116 $— $2,484,371 
Special Mention— — — — — — — — 
Substandard— — — — 1,523 69,107 — 70,630 
Doubtful— — — — — — — — 
Total multi-family mortgage19,035 143,550 26,219 574,744 883,230 908,223 — 2,555,001 
Multi-family current period gross charge-offs— — — — — 1,195 — 1,195 
Nonresidential mortgage:
Pass89,420 129,491 80,291 95,265 186,135 420,212 50 1,000,864 
Special Mention— — — — — 764 — 764 
Substandard— — — — — 10,794 — 10,794 
Doubtful— — — — — — — — 
Total nonresidential mortgage89,420 129,491 80,291 95,265 186,135 431,770 50 1,012,422 
Nonresidential current period gross charge-offs— — — — — 5 — 5 
Commercial business:
Pass75,609 16,576 7,307 4,755 15,110 16,689 61,056 197,102 
Special Mention— — 716 — 2,664 105 — 3,485 
Substandard— 83 — — — 607 — 690 
Doubtful— — — — — — — — 
Total commercial business75,609 16,659 8,023 4,755 17,774 17,401 61,056 201,277 
Commercial current period gross charge-offs— — 400 — — 814 — 1,214 
Construction loans:
Pass31,171 85,586 78,642 — 1,129 2,747 5,735 205,010 
Special Mention— — — — — — — — 
Substandard— — — — — 2,755 — 2,755 
Doubtful— — — — — — — — 
Total construction loans31,171 85,586 78,642 — 1,129 5,502 5,735 207,765 
Construction current period gross charge-offs— — — — — — — — 
Residential mortgage:
Pass123,509 125,639 133,838 166,643 395,716 783,262 139 1,728,746 
Special Mention— — — — — 330 — 330 
Substandard— — 962 1,636 510 8,839 — 11,947 
Doubtful— — — — — — — — 
Total residential mortgage123,509 125,639 134,800 168,279 396,226 792,431 139 1,741,023 
Residential current period gross charge-offs— — — — — 47 — 47 
Home equity loans:
Pass— 393 1,402 4,034 1,445 6,710 46,905 60,889 
Special Mention— — — — — — — — 
Substandard— — 188 — 83 129 90 490 
Doubtful— — — — — — — — 
Total home equity loans— 393 1,590 4,034 1,528 6,839 46,995 61,379 
Home equity current period gross charge-offs— — — — — 11 — 11 
Other consumer loans
Pass362 283 244 185 63 1,135 27 2,299 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — 2 76 78 
Other consumer loans362 283 244 185 63 1,137 103 2,377 
Other consumer current period gross charge-offs— — — — — — — — 
Total loans$339,106 $501,601 $329,809 $847,262 $1,486,085 $2,163,303 $114,078 $5,781,244 
Total current period gross charge-offs$— $— $400 $— $— $2,072 $— $2,472 
The following table presents the risk category of loans and gross charge-offs as of June 30, 2025 by loan segment and vintage year:
Term Loans by Origination Year for Fiscal Years ended June 30,
20252024202320222021PriorRevolving LoansTotal
(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 
Mortgage Loans in Foreclosure
The Company may obtain physical possession of real estate collateralizing mortgage loans through foreclosure or in‑substance repossession. Such real estate may include one‑ to four‑family residential properties securing residential mortgage loans and nonresidential properties securing nonresidential mortgage loans.
As of March 31, 2026, the Company held no residential or nonresidential real estate classified as other real estate owned (“OREO”) that was acquired through foreclosure. At that date, the Company had three residential mortgage loans with aggregate carrying values totaling $842,000, and 13 commercial mortgage loans with aggregate carrying values totaling $35.4 million, that were in the process of foreclosure.
As of June 30, 2025, the Company likewise held no residential or nonresidential OREO acquired through foreclosure. At that date, the Company held three residential mortgage loans with aggregate carrying values totaling $2.2 million and six commercial mortgage loans with aggregate carrying values totaling $23.7 million, that were in the process of foreclosure.