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STOCKHOLDERS' EQUITY
12 Months Ended
Jun. 30, 2026
Equity [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS’ EQUITY
Common Stock Repurchases. On April 27, 2023, the Company announced a program to repurchase up to $100 million of its common stock and on each of February 12, 2024 and May 12, 2025, the Company announced an additional $100 million increase to the common stock repurchase program. The Company may repurchase shares on the open market or through privately negotiated transactions at times and prices considered appropriate, at the discretion of the Company, and subject to its assessment of alternative uses of capital, stock trading price, general market conditions and regulatory factors. The repurchase program does not obligate the Company to acquire any specific number of shares. The share repurchase program will continue in effect until terminated by the Board of Directors of the Company. The Company accounts for treasury stock using the cost method as a reduction of stockholders’ equity in the accompanying Consolidated Financial Statements.
The following table presents common stock repurchases:
Fiscal Year Ended
June 30,
(Dollars in thousands, except per share data)20262025
Total repurchase$21,980 $58,450 
Number of shares repurchased249,921 951,927 
Average price paid per share$87.95 $61.40 
As of June 30, 2026, the Company has approximately $126.1 million remaining under the share repurchase authorizations.
At-the-Market Equity Offering
On January 28, 2025, the Company entered into an equity distribution agreement pursuant to which the Company may issue and sell through distribution agents from time to time shares of the Company’s common stock in at-the-market offerings with an aggregate offering price of up to $150,000,000. The Company will issue the stock pursuant to a previously effective registration statement and a prospectus supplement filed with the SEC on January 28, 2025. No shares of the Company’s common stock have been issued pursuant to this offering.
Accumulated Other Comprehensive Income
AOCI includes the after-tax change in unrealized gains and losses on investment securities and cash flow hedging activities.
For the fiscal year ended June 30, 2026
(Dollars in thousands)Unrealized gain (loss) on available-for-sale securitiesCash flow hedgesAccumulated other comprehensive income
Balance at June 30, 2025
$(780)$1,128 $348 
Other comprehensive income/(loss)131 3,435 3,566 
Balance at June 30, 2026
$(649)$4,563 $3,914 
For the fiscal year ended June 30, 2025
(Dollars in thousands)Unrealized gain (loss) on available-for-sale securitiesCash flow hedgesAccumulated other comprehensive income
Balance at June 30, 2024
$(2,466)$— $(2,466)
Other comprehensive income/(loss)1,686 1,128 2,814 
Balance at June 30, 2025
$(780)$1,128 $348 
For the fiscal year ended June 30, 2024
(Dollars in thousands)Unrealized gain (loss) on available-for-sale securitiesCash flow hedgesAccumulated other comprehensive income
Balance at June 30, 2023$(6,610)$— $(6,610)
Other comprehensive income/(loss)4,144 — 4,144 
Balance at June 30, 2024
$(2,466)$— $(2,466)
The following table presents the pre-tax and after-tax changes in the components of other comprehensive income.
For the fiscal year ended June 30, 2026
For the fiscal year ended June 30, 2025
For the fiscal year ended
June 30, 2024
(Dollars in thousands)Pre-
tax
Tax
effect
After-
tax
Pre
-tax
Tax
effect
After-
tax
Pre-
tax
Tax
effect
After-
tax
Unrealized gain/(loss) on investment securities:
Net unrealized gains/(losses) arising during the period$173 $(42)$131 $2,372 $(686)$1,686 $5,931 $(1,787)$4,144 
Reclassification adjustment for realized (gains)/losses included in net income— — — — — — — — — 
Net change$173 $(42)$131 $2,372 $(686)$1,686 $5,931 $(1,787)$4,144 
Cash flow hedges:
Net unrealized gains/(losses) arising during the period$10,417 $(2,890)$7,527 $5,448 $(1,828)$3,620 $— $— $— 
Reclassification adjustment for realized (gains)/losses included in net income(5,662)1,570 (4,092)(3,749)1,257 (2,492)— — — 
Net change4,755 (1,320)3,435 1,699 (571)1,128 — — — 
Total other comprehensive income/(loss)$4,928 $(1,362)$3,566 $4,071 $(1,257)$2,814 $5,931 $(1,787)$4,144