v3.26.1
Securities (Tables)
 12 Months Ended
Jun. 30, 2026
Securities [Abstract]  
Amortized Cost and Fair Value of Securities Available-for-Sale
The following tables summarize the amortized cost and fair value of securities available-for-sale by major type:
 
                         
 
At June 30, 2026  
(In thousands)
   Amortized cost(1)      Unrealized gains      Unrealized losses      Fair value  
U.S. Treasury securities
 $ 3,826   $ -    $ 15   $ 3,811 
U.S. government sponsored enterprises
   7,087       -      746     6,341 
State and political subdivisions
   216,477     1,163        -      217,640 
Mortgage-backed securities-residential
   59,969     180     3,145     57,004 
Mortgage-backed securities-multi-family
   86,161       -      12,796     73,365 
Corporate debt securities
   15,961     43     355     15,649 
Total securities available-for-sale
 $ 389,481   $ 1,386   $ 17,057   $ 373,810 
 
                         
 
At June 30, 2025  
(In thousands)
   Amortized cost(1)     Unrealized gains      Unrealized losses      Fair value  
U.S. Treasury securities
 $ 10,815   $ -    $ 362   $ 10,453 
U.S. government sponsored enterprises
   13,029       -      1,385     11,644 
State and political subdivisions
   208,450     1,394       -      209,844 
Mortgage-backed securities-residential
   34,382     212     3,007     31,587 
Mortgage-backed securities-multi-family
   88,874       -      14,277     74,597 
Corporate debt securities
   18,416     81     560     17,937 
Total securities available-for-sale
 $ 373,966   $ 1,687   $ 19,591   $ 356,062 
 
(1)
Amortized cost excludes accrued interest receivable of $4.1 million and $4.5 million at June 30, 2026 and 2025, respectively, which is included in accrued interest receivable in the consolidated statements of financial condition.
Amortized Cost, Fair Value and Allowance for Credit Loss on Securities Held-to-Maturity
The following tables summarize the amortized cost, fair value, and the allowance for credit losses on securities held-to-maturity by major type:
 
                         
                                     
 

At June 30, 2026 
(In thousands)
   Amortized
cost(1)		     Unrealized
gains 		     Unrealized
losses 		     Fair value      Allowance      Net carrying
value 		 
Securities held-to-maturity:
                                   
U.S. Treasury securities
 $ 13,903   $ -    $ 639   $ 13,264   $ -    $ 13,903 
State and political subdivisions
   473,174     11,474     24,700     459,948     52     473,122 
Mortgage-backed securities-residential
   170,248     752     3,263     167,737       -      170,248 
Mortgage-backed securities-multi-family
   119,232       -      9,840     109,392       -      119,232 
Corporate debt securities
   27,500     168     873     26,795     477     27,023 
Other securities
   26       -        -      26     1     25 
Total securities held-to-maturity
 $ 804,083   $ 12,394   $ 39,315   $ 777,162   $ 530   $ 803,553 
 
                         
                         
                         
                                     
 
At June 30, 2025  
(In thousands)
   Amortized
cost(1)		     Unrealized
gains 		     Unrealized
losses 		         Fair value      Allowance      Net carrying
value 		 
U.S. Treasury securities
 $ 15,850   $ -    $ 868   $ 14,982   $ -    $ 15,850 
State and political subdivisions
   460,959     8,938     32,028     437,869     40     460,919 
Mortgage-backed securities-residential
   138,468     1,388     2,327     137,529       -      138,468 
Mortgage-backed securities-multi-family
   130,119       -      11,963     118,156       -      130,119 
Corporate debt securities
   31,270     55     1,756     29,569     507     30,763 
Other securities
   29       -        -      29     1     28 
Total securities held-to-maturity
 $ 776,695   $ 10,381   $ 48,942   $ 738,134   $ 548   $ 776,147 
 
(1)
Amortized cost excludes accrued interest receivable of $5.4 million and $4.9 million at June 30, 2026 and 2025, respectively, which is included in accrued interest receivable in the consolidated statements of financial condition.
Allowance for Credit Losses on Securities Held-to-Maturity
The following table summarizes the activity in the allowance for credit losses on securities held-to-maturity at the year ended:
 
         
(In thousands)
   June 30, 2026      June 30, 2025  
Balance at beginning of year
 $ 548   $ 483 
Provision (benefit) for credit losses
   (18)     65 
Balance at end of year
 $ 530   $ 548 
Securities in Continuous Unrealized Loss Position
The following table shows fair value and gross unrealized losses, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2026.
 
                                     
                                                    
   Less than 12 months    More than 12 months    Total  
(In thousands, except number of securities)
   Fair
 value		     Unrealized
losses 		     Number
  of
securities 		     Fair  
value		     Unrealized
losses 		     Number
of
securities		     Fair
value		     Unrealized
losses 		     Number
 of
securities		 
Securities available-for-sale:
                                                  
U.S. Treasury securities
 $ 2,996   $ 6    1   $ 815   $ 9    2   $ 3,811   $ 15    3 
U.S. government sponsored enterprises
     -        -      -      6,341     746    2     6,341     746    2 
State and political subdivisions
   22       -     1       -         -       -      22        -     1 
Mortgage-backed securities-residential
   20,168     538    10     29,045     2,607    19     49,213     3,145    29 
Mortgage-backed securities-multi-family
   8,300     1,842    4     65,065     10,954    25     73,365     12,796    29 
Corporate debt securities
   2,854     144    2     10,790     211    7     13,644     355    9 
Total securities available-for-sale
   34,340     2,530    18     112,056     14,527    55     146,396     17,057    73 
Securities held-to-maturity:
                                                  
U.S. Treasury securities
   11,313     596    3     1,951     43    1     13,264     639    4 
State and political subdivisions
   34,212     3,732    249     200,240     20,968    1,238     234,452     24,700    1,487 
Mortgage-backed securities-residential
   12,807     262    11     75,637     3,001    34     88,444     3,263    45 
Mortgage-backed securities-multi-family
   27,690     2,276    9     81,702     7,564    32     109,392     9,840    41 
Corporate debt securities
   2,457     43    3     14,419     830    9     16,876     873    12 
Total securities held-to-maturity
   88,479     6,909    275     373,949     32,406    1,314     462,428     39,315    1,589 
Total securities
 $ 122,819   $ 9,439    293   $ 486,005   $ 46,933    1,369   $ 608,824   $ 56,372    1,662 
 
The following table shows fair value and gross unrealized losses, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2025.
 
                                     
                                                    
   Less than 12 months     More than 12 months    Total  
(In thousands, except number of securities)
   Fair
value 		     Unrealized
losses 		     Number
of
securities 		     Fair  
value 		     Unrealized
losses 		     Number
of
securities 		     Fair
value 		     Unrealized
losses 		     Number
of
securities 		 
Securities available-for-sale:
                                                  
U.S. Treasury securities
 $ 241   $ 1    1   $ 10,212   $ 361    5   $ 10,453   $ 362    6 
U.S. government sponsored enterprises
     -        -      -      11,644     1,385    5     11,644     1,385    5 
State and political subdivisions
     -        -      -      43       -     1     43       -     1 
Mortgage-backed securities-residential
     -        -      -      20,872     3,007    21     20,872     3,007    21 
Mortgage-backed securities-multi-family
     -        -      -      74,597     14,277    30     74,597     14,277    30 
Corporate debt securities
     -        -      -      15,919     560    11     15,919     560    11 
Total securities available-for-sale
   241     1    1     133,287     19,590    73     133,528     19,591    74 
Securities held-to-maturity:
                                                  
U.S. Treasury securities
     -        -      -      14,982     868    5     14,982     868    5 
State and political subdivisions
   23,577     339    154     231,645     31,689    1,511     255,222     32,028    1,665 
Mortgage-backed securities-residential
   9,470     151    4     26,541     2,176    26     36,011     2,327    30 
Mortgage-backed securities-multi-family
     -        -      -      118,156     11,963    45     118,156     11,963    45 
Corporate debt securities
   3,705     45    3     22,209     1,711    17     25,914     1,756    20 
Total securities held-to-maturity
   36,752     535    161     413,533     48,407    1,604     450,285     48,942    1,765 
Total securities
 $ 36,993   $ 536    162   $ 546,820   $ 67,997    1,677   $ 583,813   $ 68,533    1,839 
Investments Classified by Contractual Maturity Date
The estimated fair values of debt securities at June 30, 2026, by contractual maturity are shown below. Expected maturities may differ from contractual maturities, because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
         
Securities available-for-sale
   Amortized cost      Fair value  
Within one year
 $ 225,843   $ 226,875 
After one year through five years
   16,008     15,242 
After five years through ten years
   1,500     1,324 
After ten years
      -        -  
Total securities available-for-sale
   243,351     243,441 
Mortgage-backed and asset-backed securities
   146,130     130,369 
Total securities available-for-sale
   389,481     373,810 
             
Securities held-to-maturity
           
Within one year
   54,756     54,929 
After one year through five years
   164,013     164,756 
After five years through ten years
   222,205     207,522 
After ten years
   73,629     72,826 
Total securities held-to-maturity
   514,603     500,033 
Mortgage-backed securities
   289,480     277,129 
Total securities held-to-maturity
   804,083     777,162 
Total securities
 $ 1,193,564   $ 1,150,972