Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Mar. 31, 2018 | May 02, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | KRNY | |
Entity Registrant Name | Kearny Financial Corp. | |
Entity Central Index Key | 1,617,242 | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 102,385,573 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Assets | ||
Cash and amounts due from depository institutions | $ 18,229 | $ 18,889 |
Interest-bearing deposits in other banks | 20,054 | 59,348 |
Cash and cash equivalents | 38,283 | 78,237 |
Debt securities available for sale, at fair value | 542,495 | 444,497 |
Mortgage-backed securities available for sale, at fair value | 142,276 | 169,263 |
Securities available for sale | 684,771 | 613,760 |
Debt securities held to maturity (fair value $126,045 and $145,505) | 128,011 | 144,713 |
Mortgage-backed securities held to maturity (fair value $325,233 and $350,289) | 331,369 | 348,608 |
Securities held to maturity | 459,380 | 493,321 |
Loans held-for-sale | 2,377 | 4,692 |
Loans receivable, including unamortized yield adjustments of $1,679 and $2,808 | 3,351,369 | 3,245,261 |
Less allowance for loan losses | (30,248) | (29,286) |
Net loans receivable | 3,321,121 | 3,215,975 |
Premises and equipment | 42,856 | 39,585 |
Federal Home Loan Bank of New York ("FHLB") stock | 39,112 | 39,958 |
Accrued interest receivable | 13,926 | 12,493 |
Goodwill | 108,591 | 108,591 |
Bank owned life insurance | 184,981 | 181,223 |
Deferred income tax assets, net | 3,898 | 15,454 |
Other assets | 34,404 | 14,838 |
Total Assets | 4,933,700 | 4,818,127 |
Liabilities | ||
Deposits: Non-interest-bearing | 270,217 | 267,412 |
Deposits: Interest-bearing | 2,797,581 | 2,662,715 |
Total deposits | 3,067,798 | 2,930,127 |
Borrowings | 852,009 | 806,228 |
Advance payments by borrowers for taxes | 8,969 | 8,711 |
Other liabilities | 13,723 | 15,880 |
Total Liabilities | 3,942,499 | 3,760,946 |
Stockholders' Equity | ||
Preferred stock, $0.01 par value, 100,000,000 shares authorized; none issued and outstanding | ||
Common stock, $0.01 par value; 800,000,000 shares authorized; 78,765,003 shares and 84,350,848 shares issued and outstanding, respectively | 788 | 844 |
Paid-in capital | 653,045 | 728,790 |
Retained earnings | 355,270 | 361,039 |
Unearned employee stock ownership plan shares; 3,411,859 shares and 3,562,382 shares, respectively | (33,076) | (34,536) |
Accumulated other comprehensive income, net | 15,174 | 1,044 |
Total Stockholders' Equity | 991,201 | 1,057,181 |
Total Liabilities and Stockholders' Equity | $ 4,933,700 | $ 4,818,127 |
CONSOLIDATED STATEMENTS OF FIN3
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Statement Of Financial Position [Abstract] | ||
Securities held to maturity, estimated fair value | $ 126,045 | $ 145,505 |
Mortgage-backed securities held to maturity, fair value disclosure | 325,233 | 350,289 |
Loans receivable, unamortized yield adjustments | $ 1,679 | $ 2,808 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 100,000,000 | 100,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 800,000,000 | 800,000,000 |
Common stock, shares issued | 78,765,003 | 84,350,848 |
Common stock, shares outstanding | 78,765,003 | 84,350,848 |
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 3,411,859 | 3,562,382 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Interest Income | ||||
Loans | $ 30,728 | $ 28,235 | $ 91,811 | $ 81,339 |
Mortgage-backed securities | 2,817 | 3,222 | 8,561 | 10,938 |
Debt securities: | ||||
Taxable | 3,633 | 2,488 | 9,822 | 6,674 |
Tax-exempt | 652 | 582 | 1,914 | 1,695 |
Other interest-earning assets | 715 | 481 | 2,061 | 1,483 |
Total Interest Income | 38,545 | 35,008 | 114,169 | 102,129 |
Interest Expense | ||||
Deposits | 7,026 | 5,420 | 19,894 | 16,191 |
Borrowings | 4,462 | 3,381 | 13,573 | 10,094 |
Total Interest Expense | 11,488 | 8,801 | 33,467 | 26,285 |
Net Interest Income | 27,057 | 26,207 | 80,702 | 75,844 |
Provision for Loan Losses | 423 | 1,809 | 1,989 | 4,193 |
Net Interest Income after Provision for Loan Losses | 26,634 | 24,398 | 78,713 | 71,651 |
Non-Interest Income | ||||
Fees and service charges | 1,537 | 498 | 4,207 | 2,450 |
Loss on sale and call of securities | (1) | (22) | (1) | (1) |
Gain on sale of loans | 346 | 245 | 877 | 1,004 |
Gain (loss) on sale and write down of real estate owned | 7 | (106) | (79) | (109) |
Income from bank owned life insurance | 1,227 | 1,279 | 3,758 | 3,919 |
Electronic banking fees and charges | 243 | 240 | 823 | 793 |
Miscellaneous | 189 | 119 | 320 | 272 |
Total Non-Interest Income | 3,548 | 2,253 | 9,905 | 8,328 |
Non-Interest Expense | ||||
Salaries and employee benefits | 12,888 | 12,430 | 38,681 | 34,931 |
Net occupancy expense of premises | 2,359 | 2,088 | 6,462 | 6,005 |
Equipment and systems | 2,323 | 2,068 | 6,706 | 6,146 |
Advertising and marketing | 745 | 753 | 2,203 | 1,689 |
Federal deposit insurance premium | 350 | 338 | 1,053 | 982 |
Directors' compensation | 689 | 689 | 2,066 | 1,293 |
Merger-related expenses | 401 | 1,594 | ||
Miscellaneous | 2,788 | 2,668 | 7,828 | 8,021 |
Total Non-Interest Expense | 22,543 | 21,034 | 66,593 | 59,067 |
Income before Income Taxes | 7,639 | 5,617 | 22,025 | 20,912 |
Income taxes | 2,262 | 1,549 | 10,147 | 6,713 |
Net Income | $ 5,377 | $ 4,068 | $ 11,878 | $ 14,199 |
Net Income per Common Share (EPS) | ||||
Basic | $ 0.07 | $ 0.05 | $ 0.15 | $ 0.17 |
Diluted | $ 0.07 | $ 0.05 | $ 0.15 | $ 0.17 |
Weighted Average Number of Common Shares Outstanding | ||||
Basic | 75,492 | 84,542 | 77,452 | 85,326 |
Diluted | 75,539 | 84,624 | 77,510 | 85,402 |
Dividends Declared Per Common Share | $ 0.03 | $ 0.03 | $ 0.21 | $ 0.07 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net Income | $ 5,377 | $ 4,068 | $ 11,878 | $ 14,199 |
Other Comprehensive Income, net of tax: | ||||
Net unrealized (loss) gain on securities available for sale | (1,510) | 3,075 | (1,569) | (1,167) |
Net gain (loss) on securities transferred from available for sale to held to maturity | 23 | (74) | 84 | (95) |
Net realized gain on securities available for sale | 231 | 238 | ||
Fair value adjustments on derivatives | 8,859 | 1,506 | 14,262 | 18,718 |
Benefit plan adjustments | 9 | 10 | (28) | (204) |
Total Other Comprehensive Income | 7,381 | 4,748 | 12,749 | 17,490 |
Total Comprehensive Income | $ 12,758 | $ 8,816 | $ 24,627 | $ 31,689 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Total | Common Stock [Member] | Paid-in Capital [Member] | Retained Earnings [Member] | Unearned ESOP Shares [Member] | Accumulated Other Comprehensive (Loss) Income [Member] |
Balance (in value) at Jun. 30, 2016 | $ 1,147,629 | $ 918 | $ 849,173 | $ 350,806 | $ (36,481) | $ (16,787) |
Balance (in shares) at Jun. 30, 2016 | 91,822,000 | |||||
Net Income | 14,199 | 14,199 | ||||
Other comprehensive income, net of income tax expense | 17,490 | 17,490 | ||||
ESOP shares committed to be released | 2,186 | 727 | 1,459 | |||
Stock option exercise (in value) | 482 | $ 1 | 481 | |||
Stock option exercise (in shares) | 62,000 | |||||
Stock option expense | 753 | 753 | ||||
Share repurchases (in value) | (84,337) | $ (60) | (84,277) | |||
Stock repurchases (in shares) | (6,015,000) | |||||
Issuance of shares for stock benefit plan (in values) | $ 14 | (14) | ||||
Issuance of shares for stock benefit plan (in shares) | 1,387,000 | |||||
Restricted stock plan shares earned (in value) | 1,530 | 1,530 | ||||
Cash dividends declared | (5,922) | (5,922) | ||||
Balance (in value) at Mar. 31, 2017 | 1,094,010 | $ 873 | 768,373 | 359,083 | (35,022) | 703 |
Balance (in shares) at Mar. 31, 2017 | 87,256,000 | |||||
Balance (in value) at Jun. 30, 2017 | $ 1,057,181 | $ 844 | 728,790 | 361,039 | (34,536) | 1,044 |
Balance (in shares) at Jun. 30, 2017 | 84,350,848 | 84,351,000 | ||||
Net Income | $ 11,878 | 11,878 | ||||
Other comprehensive income, net of income tax expense | 12,749 | 12,749 | ||||
ESOP shares committed to be released | 2,152 | 692 | 1,460 | |||
Stock option exercise (in value) | 102 | 102 | ||||
Stock option exercise (in shares) | 10,000 | |||||
Stock option expense | 1,550 | 1,550 | ||||
Share repurchases (in value) | (80,134) | $ (55) | (80,079) | |||
Stock repurchases (in shares) | (5,506,000) | |||||
Restricted stock plan shares earned (in value) | 3,267 | 3,267 | ||||
Cancellation of shares issued for restricted stock awards (in value) | (1,278) | $ (1) | (1,277) | |||
Cancellation of shares issued for restricted stock awards (in shares) | (90,000) | |||||
Reclassification of stranded tax effects from Accumulated Other Comprehensive Income | (1,381) | 1,381 | ||||
Cash dividends declared | (16,266) | (16,266) | ||||
Balance (in value) at Mar. 31, 2018 | $ 991,201 | $ 788 | $ 653,045 | $ 355,270 | $ (33,076) | $ 15,174 |
Balance (in shares) at Mar. 31, 2018 | 78,765,003 | 78,765,000 |
CONSOLIDATED STATEMENTS OF CHA7
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares shares in Thousands | 9 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement Of Stockholders Equity [Abstract] | ||
ESOP shares committed to be released, shares | 150 | 150 |
Restricted stock plan shares earned, shares | 217 | 103 |
Dividends Declared Per Common Share | $ 0.21 | $ 0.07 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash Flows from Operating Activities: | ||
Net Income | $ 11,878 | $ 14,199 |
Adjustment to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization of premises and equipment | 2,247 | 2,150 |
Net amortization of premiums, discounts and loan fees and costs | 3,379 | 3,938 |
Deferred income taxes | 4,885 | (841) |
Amortization of intangible assets | 86 | 106 |
Amortization of benefit plans’ unrecognized net (gain) loss | (50) | 49 |
Provision for loan losses | 1,989 | 4,193 |
Loss on write-down and sales of real estate owned | 79 | 109 |
Loans originated for sale | (63,291) | (68,641) |
Proceeds from sale of loans held-for-sale | 66,221 | 71,788 |
Realized gain on sale of loans held-for-sale, net | (615) | (574) |
Realized gain on sale of loans | (262) | (430) |
Realized loss on call of debt securities available for sale | 10 | |
Realized gain on call of debt securities held to maturity | (1) | (31) |
Realized loss on sale of mortgage-backed securities available for sale | 391 | |
Realized gain on sale of mortgage-backed securities held to maturity | (369) | |
Realized loss (gain) on disposition of premises and equipment | 10 | (11) |
Increase in cash surrender value of bank owned life insurance | (3,758) | (3,919) |
ESOP, stock option plan and restricted stock plan expenses | 6,969 | 4,469 |
Increase in interest receivable | (1,433) | (1,108) |
Decrease (increase) in other assets | 970 | (742) |
Increase in interest payable | 571 | 195 |
Decrease in other liabilities | (2,703) | (889) |
Net Cash Provided by Operating Activities | 27,171 | 24,042 |
Purchases of: | ||
Debt securities available for sale | (132,315) | (74,038) |
Debt securities held to maturity | (21,419) | (29,276) |
Mortgage-backed securities available for sale | (30,663) | |
Mortgage-backed securities held to maturity | (20,478) | |
Proceeds from: | ||
Repayments/calls/maturities of debt securities available for sale | 35,569 | 34,666 |
Repayments/calls/maturities of debt securities held to maturity | 37,900 | 55,259 |
Repayments/maturities of mortgage-backed securities available for sale | 23,321 | 43,463 |
Sales of mortgage-backed securities available for sale | 83,008 | |
Repayments/maturities of mortgage-backed securities held to maturity | 36,762 | 42,570 |
Sales of mortgage-backed securities held to maturity | 5,300 | |
Purchase of loans | (49,825) | (140,406) |
Proceeds from sale of loans | 3,064 | 6,073 |
Net increase in loans receivable | (62,418) | (317,454) |
Proceeds from sale of real estate owned | 1,897 | 768 |
Additions to premises and equipment | (5,529) | (2,659) |
Purchase of FHLB stock | (6,750) | (26,280) |
Redemption of FHLB stock | 7,596 | 17,418 |
Net Cash Used in Investing Activities | (152,625) | (332,251) |
Cash Flows from Financing Activities: | ||
Net increase in deposits | 137,356 | 158,353 |
Repayment of term FHLB advances | (1,875,081) | (1,478,077) |
Proceeds from term FHLB advances | 1,875,000 | 1,675,000 |
Net change in overnight borrowings | 42,000 | |
Net increase in other short-term borrowings | 3,852 | 13,906 |
Net increase in advance payments by borrowers for taxes | 258 | 153 |
Repurchase and cancellation of common stock of Kearny Financial Corp. | (80,134) | (84,337) |
Cancellation of shares issued for restricted stock awards | (1,278) | |
Exercise of stock options | 102 | 482 |
Dividends paid | (16,575) | (5,880) |
Net Cash Provided by Financing Activities | 85,500 | 279,600 |
Net Decrease in Cash and Cash Equivalents | (39,954) | (28,609) |
Cash and Cash Equivalents - Beginning | 78,237 | 199,200 |
Cash and Cash Equivalents - Ending | 38,283 | 170,591 |
Cash paid during the period for: | ||
Income taxes, net of refunds | 6,173 | 6,608 |
Interest | 32,897 | 26,091 |
Non-cash investing and financing activities: | ||
Acquisition of real estate owned in settlement of loans | $ 1,437 | $ 1,719 |
Principles of Consolidation
Principles of Consolidation | 9 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | 1. PRINCIPLES OF CONSOLIDATION The unaudited consolidated financial statements include the accounts of Kearny Financial Corp. (the “Company”), its wholly-owned subsidiary, Kearny Bank (the “Bank”) and the Bank’s wholly-owned subsidiaries, CJB Investment Corp. and KFS Financial Services, Inc. and its wholly-owned subsidiary, KFS Insurance Services, Inc. The Company conducts its business principally through the Bank. Management prepared the unaudited consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), including the elimination of all significant inter-company accounts and transactions during consolidation. |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | 2. BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and Regulation S-X and do not include information or footnotes necessary for a complete presentation of financial condition, income, comprehensive income, changes in stockholders’ equity and cash flows in conformity with GAAP. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the unaudited consolidated financial statements have been included. The results of operations for the three-month and nine-month periods ended March 31, 2018 are not necessarily indicative of the results that may be expected for the entire fiscal year or any other period. The data in the consolidated statement of financial condition for June 30, 2017 was derived from the Company’s 2017 Annual Report on Form 10-K. That data, along with the interim unaudited financial information presented in the consolidated statements of financial condition, income, comprehensive income, changes in stockholders’ equity and cash flows should be read in conjunction with the audited consolidated financial statements, including the notes thereto, included in the Company’s 2017 Annual Report on Form 10-K. |
Net Income Per Common Share ("E
Net Income Per Common Share ("EPS") | 9 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Net Income Per Common Share (EPS) | 3. NET INCOME PER COMMON SHARE (“EPS”) Basic EPS is based on the weighted average number of common shares actually outstanding including both vested and unvested restricted stock awards adjusted for Employee Stock Ownership Plan (“ESOP”) shares not yet committed to be released. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as outstanding stock options, were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. Diluted EPS is calculated by adjusting the weighted average number of shares of common stock outstanding to include the effect of contracts or securities exercisable or which could be converted into common stock, if dilutive, using the treasury stock method. Shares issued and reacquired during any period are weighted for the portion of the period they were outstanding. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations: Three Months Ended Nine Months Ended March 31, 2018 March 31, 2018 Income (Numerator) Shares (Denominator) Per Share Amount Income (Numerator) Shares (Denominator) Per Share Amount (In Thousands, Except Per Share Data) (In Thousands, Except Per Share Data) Net income $ 5,377 $ 11,878 Basic earnings per share, income available to common stockholders $ 5,377 75,492 $ 0.07 $ 11,878 77,452 $ 0.15 Effect of dilutive securities: Stock options 47 58 $ 5,377 75,539 $ 0.07 $ 11,878 77,510 $ 0.15 Three Months Ended Nine Months Ended March 31, 2017 March 31, 2017 Income (Numerator) Shares (Denominator) Per Share Amount Income (Numerator) Shares (Denominator) Per Share Amount (In Thousands, Except Per Share Data) (In Thousands, Except Per Share Data) Net income $ 4,068 $ 14,199 Basic earnings per share, income available to common stockholders $ 4,068 84,542 $ 0.05 $ 14,199 85,326 $ 0.17 Effect of dilutive securities: Stock options 82 76 $ 4,068 84,624 $ 0.05 $ 14,199 85,402 $ 0.17 During the three and nine months ended March 31, 2018, the average number of options which were considered anti-dilutive totaled approximately 3,290,000 and 3,290,000, respectively. During the three and nine months ended March 31, 2017, the average number of options which were considered anti-dilutive totaled approximately 3,290,000 and 1,452,883, respectively. |
Subsequent Events
Subsequent Events | 9 Months Ended |
Mar. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | 4. SUBSEQUENT EVENTS The Company has evaluated events and transactions occurring subsequent to the statement of financial condition date of March 31, 2018, for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date this document was filed. |
Acquisition of Clifton Bancorp
Acquisition of Clifton Bancorp Inc | 9 Months Ended |
Mar. 31, 2018 | |
Clifton Bancorp Inc. [Member] | |
Acquisition of Clifton Bancorp Inc | 5. ACQUISITION OF CLIFTON BANCORP INC. O n April 2, 2018, the Company completed its acquisition of Clifton Bancorp Inc. (“Clifton”), the parent company of Clifton Savings Bank, a federally chartered stock savings bank. At the time of closing, Clifton had $1.7 billion in total assets, including $1.2 billion in net loans receivable and $357.9 million in securities, and $1.4 billion in total liabilities, including $945.0 million in deposits and $421.4 million in borrowings. The deposits acquired from Clifton are held across a network of 12 branches located in New Jersey throughout Bergen, Passaic, Hudson, and Essex counties. Given the initial accounting for this business combination is incomplete, management is not yet able to disclose the preliminary fair value of the assets acquired and liabilities assumed. Clifton’s stockholders’ equity totaled approximately $272.0 million at the time of closing. Under the terms of the merger agreement, each outstanding share of Clifton common stock was exchanged for 1.191 shares of the Company’s common stock, resulting in the Company issuing 25.4 million shares of common stock to CSBK stockholders in conjunction with the merger’s closing. Based on the closing date of April 2, 2018, the Company’s unaudited consolidated financial statements included in this report on Form 10-Q do not reflect the changes attributable to the Company’s acquisition of Clifton. |
Merger Related Expenses
Merger Related Expenses | 9 Months Ended |
Mar. 31, 2018 | |
Business Combinations [Abstract] | |
Merger Related Expenses | 6. MERGER RELATED EXPENSES Merger-related expenses are recorded in the Consolidated Statements of Income and include costs relating to the Company’s acquisition of Clifton, as described in Note 5. These charges represent one-time costs associated with acquisition activities and do not represent ongoing costs of the fully integrated combined organization. Accounting guidance requires that acquisition-related transactional and restructuring costs incurred by the Company be charged to expense as incurred. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Mar. 31, 2018 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | 7. RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Subsequently, the FASB issued the following standards related to ASU 2014-09: ASU 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations”; ASU 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing”; ASU 2016-11, “Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting”; ASU 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients”; and ASU 2017-05, “Other Income-Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets.” These amendments are intended to improve and clarify the implementation guidance of ASU 2014-09 and have the same effective date as the original standard. The Company’s main source of revenue is comprised of net interest income on interest earning assets and liabilities and non-interest income. The scope of this ASU explicitly excludes net interest income as well as other revenues associated with financial assets and liabilities, including loans, leases, securities, certain insurance revenues and derivatives. While there were no material changes related to the timing or amount of revenue recognition, the Company will continue to evaluate the need for additional disclosures. In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments The ASU also replaces the current accounting model for purchased credit impaired loans and debt securities. The allowance for credit losses for purchased financial assets with a more-than insignificant amount of credit deterioration since origination (“PCD assets”), should be determined in a similar manner to other financial assets measured on an amortized cost basis. However, upon initial recognition, the allowance for credit losses is added to the purchase price (“gross up approach”) to determine the initial amortized cost basis. The subsequent accounting for PCD financial assets is the same expected loss model described above. Further, the ASU made certain targeted amendments to the existing impairment model for available-for-sale (“AFS”) debt securities. For an AFS debt security for which there is neither the intent nor a more-likely-than-not requirement to sell, an entity will record credit losses as an allowance rather than a write-down of the amortized cost basis. For public business entities that are SEC filers, the amendments are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (i.e. modified retrospective approach). The Company has begun its evaluation of this ASU including the potential impact on its consolidated financial statements. The extent of change is indeterminable at this time as it will be dependent upon portfolio composition and credit quality at the adoption date, as well as economic conditions and forecasts at that time. Upon adoption, any impact to the allowance for credit losses, currently allowance for loan and lease losses, will have an offsetting impact on retained earnings. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment In March 2017, ASU 2017-07, Compensation-Retirement Benefits (Topic715), In March 2017, ASU 2017-08 Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20), In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting, Adoption of New Accounting Standards In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities, In February 2018, the FASB issued ASU 2018-02, Income Statement-Reporting Comprehensive income (Topic 220), Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. |
Securities Available for Sale
Securities Available for Sale | 9 Months Ended |
Mar. 31, 2018 | |
Securities Available for Sale [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Securities | 8. SECURITIES AVAILABLE FOR SALE The amortized cost, gross unrealized gains and losses and fair values of debt and mortgage-backed securities available for sale at March 31, 2018 and June 30, 2017 and stratification by contractual maturity of debt securities available for sale at March 31, 2018 are presented below: March 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Securities available for sale: Debt securities: U.S. agency securities $ 4,717 $ - $ 50 $ 4,667 Obligations of state and political subdivisions 27,446 6 719 26,733 Asset-backed securities 180,180 2,211 325 182,066 Collateralized loan obligations 178,529 232 419 178,342 Corporate bonds 143,009 142 949 142,202 Trust preferred securities 8,918 - 433 8,485 Total debt securities 542,799 2,591 2,895 542,495 Mortgage-backed securities: Collateralized mortgage obligations: Federal Home Loan Mortgage Corporation 8,501 - 290 8,211 Federal National Mortgage Association 18,307 - 917 17,390 Total collateralized mortgage obligations 26,808 - 1,207 25,601 Mortgage pass-through securities: Residential pass-through securities: Federal Home Loan Mortgage Corporation 82,595 57 2,501 80,151 Federal National Mortgage Association 29,090 97 602 28,585 Total residential pass-through securities 111,685 154 3,103 108,736 Commercial pass-through securities: Federal National Mortgage Association 7,987 - 48 7,939 Total commercial pass-through securities 7,987 - 48 7,939 Total mortgage-backed securities 146,480 154 4,358 142,276 Total securities available for sale $ 689,279 $ 2,745 $ 7,253 $ 684,771 March 31, 2018 Amortized Cost Fair Value (In Thousands) Debt securities available for sale: Due in one year or less $ 3 $ 3 Due after one year through five years 95,025 94,876 Due after five years through ten years 106,303 104,720 Due after ten years 341,468 342,896 Total $ 542,799 $ 542,495 June 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Securities available for sale: Debt securities: U.S. agency securities $ 5,304 $ 35 $ 23 $ 5,316 Obligations of state and political subdivisions 27,465 305 30 27,740 Asset-backed securities 163,120 316 1,007 162,429 Collateralized loan obligations 98,078 185 109 98,154 Corporate bonds 143,017 826 1,525 142,318 Trust preferred securities 8,912 - 372 8,540 Total debt securities 445,896 1,667 3,066 444,497 Mortgage-backed securities: Collateralized mortgage obligations: Federal Home Loan Mortgage Corporation 9,902 38 66 9,874 Federal National Mortgage Association 21,222 - 560 20,662 Total collateralized mortgage obligations 31,124 38 626 30,536 Mortgage pass-through securities: Residential pass-through securities: Federal Home Loan Mortgage Corporation 95,501 352 999 94,854 Federal National Mortgage Association 35,516 425 245 35,696 Total residential pass-through securities 131,017 777 1,244 130,550 Commercial pass-through securities: Federal National Mortgage Association 8,108 69 - 8,177 Total commercial pass-through securities 8,108 69 - 8,177 Total mortgage-backed securities 170,249 884 1,870 169,263 Total securities available for sale $ 616,145 $ 2,551 $ 4,936 $ 613,760 There were no sales of securities available for sale during the three and nine months ended March 31, 2018. During the nine months ended March 31, 2017, proceeds from sales of securities available for sale totaled $83.0 million and resulted in gross gains of $1.3 million and gross losses of $1.7 million. At March 31, 2018 and June 30, 2017, securities available for sale with carrying values of approximately $45.3 million and $41.8 million, respectively, were utilized as collateral for borrowings through the FHLB of New York. At March 31, 2018 and June 30, 2017, securities available for sale with carrying values of approximately $43.5 million and $41.5 million, respectively, were utilized as collateral for potential borrowings through the Federal Reserve Bank of New York. As of those same dates, securities available for sale with total carrying values of approximately $13.5 million and $8.2 million, respectively, were utilized as collateral for depositor sweep accounts. |
Securities Held to Maturity
Securities Held to Maturity | 9 Months Ended |
Mar. 31, 2018 | |
Securities Held to Maturity [Member] | |
Schedule of Held-to-maturity Securities [Line Items] | |
Securities | 9. SECURITIES HELD TO MATURITY The amortized cost, gross unrecognized gains and losses and fair values of debt and mortgage-backed securities held to maturity at March 31, 2018 and June 30, 2017 and stratification by contractual maturity of debt securities held to maturity at March 31, 2018 are presented below: March 31, 2018 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value (In Thousands) Securities held to maturity: Debt securities: Obligations of state and political subdivisions $ 98,011 $ 44 $ 1,849 $ 96,206 Subordinated debt 30,000 22 183 29,839 Total debt securities 128,011 66 2,032 126,045 Mortgage-backed securities: Collateralized mortgage obligations: Government National Mortgage Association 21,680 - 516 21,164 Federal Home Loan Mortgage Corporation 12,516 - 496 12,020 Federal National Mortgage Association 95 7 - 102 Non-agency securities 18 - - 18 Total collateralized mortgage obligations 34,309 7 1,012 33,304 Mortgage pass-through securities: Residential pass-through securities: Federal Home Loan Mortgage Corporation 29,196 1 848 28,349 Federal National Mortgage Association 122,409 22 2,313 120,118 Total residential pass-through securities 151,605 23 3,161 148,467 Commercial pass-through securities: Government National Mortgage Association 1,244 - 5 1,239 Federal National Mortgage Association 144,211 - 1,988 142,223 Total commercial pass-through securities 145,455 - 1,993 143,462 Total mortgage-backed securities 331,369 30 6,166 325,233 Total securities held to maturity $ 459,380 $ 96 $ 8,198 $ 451,278 March 31, 2018 Amortized Cost Fair Value (In Thousands) Debt securities held to maturity: Due in one year or less $ 3,366 $ 3,359 Due after one year through five years 29,039 28,697 Due after five years through ten years 82,816 81,344 Due after ten years 12,790 12,645 Total $ 128,011 $ 126,045 June 30, 2017 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value (In Thousands) Securities held to maturity: Debt securities: U.S. agency securities $ 35,000 $ - $ 48 $ 34,952 Obligations of state and political subdivisions 94,713 996 156 95,553 Subordinated debt 15,000 - - 15,000 Total debt securities 144,713 996 204 145,505 Mortgage-backed securities: Collateralized mortgage obligations: Government National Mortgage Association 2,199 - 46 2,153 Federal Home Loan Mortgage Corporation 15,522 - 357 15,165 Federal National Mortgage Association 111 10 - 121 Non-agency securities 22 - - 22 Total collateralized mortgage obligations 17,854 10 403 17,461 Mortgage pass-through securities: Residential pass-through securities: Federal Home Loan Mortgage Corporation 35,289 1 338 34,952 Federal National Mortgage Association 143,524 428 597 143,355 Total residential pass-through securities 178,813 429 935 178,307 Commercial pass-through securities: Government National Mortgage Association 1,989 - 11 1,978 Federal National Mortgage Association 149,952 2,622 31 152,543 Total commercial pass-through securities 151,941 2,622 42 154,521 Total mortgage-backed securities 348,608 3,061 1,380 350,289 Total securities held to maturity $ 493,321 $ 4,057 $ 1,584 $ 495,794 There were no sales of securities held to maturity during the three and nine months ended March 31, 2018. During the nine months ended March 31, 2017, proceeds from sales of securities held to maturity totaled $5.3 million which resulted in gross gains of $370,000 and gross losses of $1,000. The securities sold during the nine months ended March 31, 2017 were limited to those whose remaining outstanding balances had declined to the required thresholds, in relation to the original amount purchased or acquired, that allowed their sale from the held to maturity portfolio. At March 31, 2018 and June 30, 2017, securities held to maturity with carrying values of approximately $118.4 million and $117.5 million, respectively, were utilized as collateral for borrowings from the FHLB of New York. As of those same dates, securities held to maturity with total carrying values of approximately $6.5 million and $6.9 million, respectively, were pledged to secure public funds on deposit. At March 31, 2018 and June 30, 2017, securities held to maturity with carrying values of approximately $96.0 million and $88.8 million, respectively, were utilized as collateral for potential borrowings from the Federal Reserve Bank of New York. As of those same dates, securities held to maturity with carrying values of approximately $26.9 million and $32.7 million, respectively, were utilized as collateral for depositor sweep accounts. |
Impairment of Securities
Impairment of Securities | 9 Months Ended |
Mar. 31, 2018 | |
Investments Debt And Equity Securities [Abstract] | |
Impairment of Securities | 10. IMPAIRMENT OF SECURITIES The following two tables summarize the fair values and gross unrealized losses within the available for sale and held to maturity portfolios at March 31, 2018 and June 30, 2017. The gross unrealized and unrecognized losses, presented by security type, represent temporary impairments of value within each portfolio as of the dates presented. Temporary impairments within the available for sale portfolio have been recognized through other comprehensive income as reductions in stockholders’ equity on a tax-effected basis. The tables are followed by a discussion that summarizes the Company’s rationale for recognizing impairments, where applicable, as “temporary” versus those identified as “other-than-temporary”. Such rationale is presented by investment type and generally applies consistently to both the “available for sale” and “held to maturity” portfolios, except where specifically noted. March 31, 2018 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In Thousands) Securities Available for Sale: U.S. agency securities $ 3,090 $ 31 $ 1,577 $ 19 $ 4,667 $ 50 Obligations of state and political subdivisions 25,089 692 550 27 25,639 719 Asset-backed securities 10,905 11 29,920 314 40,825 325 Collateralized loan obligations 108,643 419 - - 108,643 419 Corporate bonds 27,934 59 64,083 890 92,017 949 Trust preferred securities - - 7,485 433 7,485 433 Collateralized mortgage obligations 4,913 105 20,688 1,102 25,601 1,207 Residential pass-through securities 63,936 1,669 28,005 1,434 91,941 3,103 Commercial pass-through securities 7,939 48 - - 7,939 48 Total $ 252,449 $ 3,034 $ 152,308 $ 4,219 $ 404,757 $ 7,253 June 30, 2017 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In Thousands) Securities Available for Sale: U.S. agency securities $ 440 $ - $ 1,746 $ 23 $ 2,186 $ 23 Obligations of state and political subdivisions 3,872 30 - - 3,872 30 Asset-backed securities 16,860 84 86,975 923 103,835 1,007 Collateralized loan obligations 46,016 108 6,000 1 52,016 109 Corporate bonds - - 73,500 1,525 73,500 1,525 Trust preferred securities - - 7,540 372 7,540 372 Collateralized mortgage obligations 26,090 626 - - 26,090 626 Residential pass-through securities 77,301 1,244 - - 77,301 1,244 Total $ 170,579 $ 2,092 $ 175,761 $ 2,844 $ 346,340 $ 4,936 The number of available for sale securities with unrealized losses at March 31, 2018 totaled 134 and included nine U.S. agency securities, 67 municipal obligations, five asset-backed securities, twelve collateralized loan obligations, eleven corporate obligations, four trust preferred securities, seven collateralized mortgage obligations and 17 residential pass-through securities and two commercial pass-through securities. The number of available for sale securities with unrealized losses at June 30, 2017 totaled 57 and included seven U.S. agency securities, nine municipal obligations, nine asset-backed securities, eight collateralized loan obligations, seven corporate obligations, four trust preferred securities and five collateralized mortgage obligations and eight residential pass-through securities. March 31, 2018 Less than 12 Months 12 Months or More Total Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses (In Thousands) Securities Held to Maturity: Obligations of state and political subdivisions $ 84,494 $ 1,653 $ 4,020 $ 196 $ 88,514 $ 1,849 Subordinated debt 19,817 183 - - 19,817 183 Collateralized mortgage obligations 19,406 431 13,778 581 33,184 1,012 Residential pass-through securities 80,903 1,433 66,449 1,728 147,352 3,161 Commercial pass-through securities 142,222 1,988 1,240 5 143,462 1,993 Total $ 346,842 $ 5,688 $ 85,487 $ 2,510 $ 432,329 $ 8,198 June 30, 2017 Less than 12 Months 12 Months or More Total Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses (In Thousands) Securities Held to Maturity: U.S. agency securities $ 24,969 $ 31 $ 9,983 $ 17 $ 34,952 $ 48 Obligations of state and political subdivisions 19,232 150 409 6 19,641 156 Collateralized mortgage obligations 17,317 403 22 - 17,339 403 Residential pass-through securities 119,538 887 1,750 48 121,288 935 Commercial pass-through securities 11,110 42 - - 11,110 42 Total $ 192,166 $ 1,513 $ 12,164 $ 71 $ 204,330 $ 1,584 The number of held to maturity securities with unrecognized losses at March 31, 2018 totaled 319 and included 186 municipal obligations, two subordinated debt securities, seven collateralized mortgage obligations, 92 residential pass-through securities and 32 commercial pass-through securities. The number of held to maturity securities with unrecognized losses at June 30, 2017 totaled 90 and included two U.S. agency securities, 44 municipal obligations, seven collateralized mortgage obligations, 34 residential pass-through securities and three commercial pass-through securities. In general, if the fair value of a debt security is less than its amortized cost basis at the time of evaluation, the security is “impaired” and the impairment is to be evaluated to determine if it is other than temporary. The Company evaluates the impaired securities in its portfolio for possible other than temporary impairment (“OTTI”) on at least a quarterly basis. The following represents the circumstances under which an impaired security is determined to be other than temporarily impaired: • When the Company intends to sell the impaired debt security; • When the Company more likely than not will be required to sell the impaired debt security before recovery of its amortized cost (for example, whether liquidity requirements or contractual or regulatory obligations indicate that the security will be required to be sold before a forecasted recovery occurs); or • When an impaired debt security does not meet either of the two conditions above, but the Company does not expect to recover the entire amortized cost of the security. According to applicable accounting guidance for debt securities, this is generally when the present value of cash flows expected to be collected is less than the amortized cost of the security. In the first two circumstances noted above, the amount of OTTI recognized in earnings is the entire difference between the security’s amortized cost basis and its fair value at the balance sheet date. In the third circumstance, however, the OTTI is to be separated into the amount representing the credit loss from the amount related to all other factors. The credit loss component is to be recognized in earnings while the non-credit loss component is to be recognized in other comprehensive income. In these cases, OTTI is generally predicated on an adverse change in cash flows (e.g. principal and/or interest payment deferrals or losses) versus those expected at the time of purchase. The absence of an adverse change in expected cash flows generally indicates that a security’s impairment is related to other “non-credit loss” factors and is thereby generally not recognized as OTTI. The Company considers a variety of factors when determining whether a credit loss exists for an impaired security including, but not limited to: • The length of time and the extent (a percentage) to which the fair value has been less than the amortized cost basis; • Adverse conditions specifically related to the security, an industry, or a geographic area (e.g. changes in the financial condition of the issuer of the security, or in the case of an asset backed debt security, in the financial condition of the underlying loan obligors, including changes in technology or the discontinuance of a segment of the business that may affect the future earnings potential of the issuer or underlying loan obligors of the security or changes in the quality of the credit enhancement); • The historical and implied volatility of the fair value of the security; • The payment structure of the debt security; • Actual or expected failure of the issuer of the security to make scheduled interest or principal payments; • Changes to the rating of the security by external rating agencies; and • Recoveries or additional declines in fair value subsequent to the balance sheet date. At March 31, 2018 and June 30, 2017, the Company held no securities for which credit-related OTTI had been recognized in earnings based on the Company’s analysis and determination that the impairment reported in the tables above was “temporary” in nature as of both dates. The rationale for making that determination is based on several factors which are generally shared among the various sectors represented in the Company’s available for sale and held to maturity portfolios. The most significant of these is the general mitigation of credit risk arising from the U.S. government, agency and GSE guarantees supporting the Company’s mortgage-backed securities, U.S. agency debt securities and asset-backed securities. While not supported by such guarantees, the Company’s collateralized loan obligations represent tranches within a larger investment vehicle that reallocate cash flows and credit risk among the individual tranches comprised within that vehicle. Through this structure, the Company is afforded significant protection against the risk that the securities within this sector will be adversely impacted by borrowers defaulting on the underlying loans. In the absence of the guarantor or structural protections noted above, the securities within the other sectors of the Company’s securities portfolio, including its municipal obligations, corporate bonds and single-issuer trust preferred securities are generally issued by credit-worthy entities with the ability and resources to fully meet their financial obligations. The Company regularly monitors the historical cash flows and financial strength of all issuers and/or guarantors to confirm that security impairment, where applicable, is not due to an actual or expected adverse change in security cash flows that would result in the recognition of credit-related OTTI. With credit risk being mitigated in the manner outlined above, the unrealized and unrecognized losses on the Company’s securities are due largely to the combined effects of several market-related factors including, most notably, changes in market interest rates and changing market conditions which affect the supply and demand for such securities. Those market conditions may fluctuate over time resulting in certain securities being impaired for periods in excess of 12 months. However, the longevity of such impairment is not necessarily reflective of an expectation for an adverse change in cash flows signifying a credit loss. Consequently, the impairments of value resulting directly from these changing market conditions are considered “noncredit-related” and “temporary” in nature. The Company has the stated ability and intent to “hold until forecasted recovery” those securities so designated at March 31, 2018 and does not intend to sell the temporarily impaired available for sale securities prior to the recovery of their fair value to a level equal to or greater than the Company’s amortized cost. Furthermore, the Company has concluded that the possibility of being required to sell the securities prior to their anticipated recovery is unlikely based upon its strong liquidity, asset quality and capital position as of that date. In light of the factors noted above, the Company does not consider its balance of securities with unrealized and unrecognized losses at March 31, 2018 and June 30, 2017, to be “other-than-temporarily” impaired as of those dates. |
Loan Quality and Allowance for
Loan Quality and Allowance for Loan Losses | 9 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Loan Quality and Allowance for Loan Losses | 11. LOAN QUALITY AND ALLOWANCE FOR LOAN LOSSES Acquired Credit-Impaired Loans. At March 31, 2018, the remaining outstanding principal balance and carrying amount of acquired credit-impaired loans totaled approximately $589,000 and $378,000, respectively. By comparison, at June 30, 2017, the remaining outstanding principal balance and carrying amount of acquired credit-impaired loans totaled approximately $839,000 and $594,000, respectively. The carrying amount of acquired credit-impaired loans for which interest is not being recognized due to the uncertainty of the cash flows relating to such loans totaled $355,000 and $371,000 at March 31, 2018 and June 30, 2017, respectively. There were no valuation allowances for specifically identified impairment attributable to acquired credit-impaired loans at March 31, 2018 and June 30, 2017, respectively. The following table presents the changes in the accretable yield relating to the acquired credit-impaired loans for the three and nine months ended March 31, 2018 and March 31, 2017. Three Months Ended March 31, 2018 2017 (In Thousands) Beginning balance $ 206 $ 312 Accretion to interest income - (97 ) Disposals - - Reclassifications from nonaccretable difference - - Ending balance $ 206 $ 215 Nine Months Ended March 31, 2018 2017 (In Thousands) Beginning balance $ 215 $ 335 Accretion to interest income (9 ) (101 ) Disposals - (19 ) Reclassifications from nonaccretable difference - - Ending balance $ 206 $ 215 Residential Mortgage Loans in Foreclosure. We may obtain physical possession of one- to four-family real estate collateralizing a residential mortgage loan via foreclosure or through an in-substance repossession. As of March 31, 2018, we held three single-family properties in real estate owned with an aggregate carrying value of $1.1 million that were acquired through foreclosures on residential mortgage loans. As of that same date, we held ten residential mortgage loans with aggregate carrying values totaling $1.9 million which were in the process of foreclosure. By comparison, as of June 30, 2017, we held two single-family properties in real estate owned with an aggregate carrying value of $981,000 that were acquired through foreclosures on residential mortgage loans. As of that same date, we held 18 residential mortgage loans with aggregate carrying values totaling $3.7 million which were in the process of foreclosure. Loan Quality. The following tables present the balance of the allowance for loan losses at March 31, 2018 and June 30, 2017 based upon the calculation methodology as described in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017. The tables identify the valuation allowances attributable to specifically identified impairments on individually evaluated loans, including those acquired with deteriorated credit quality, as well as valuation allowances for impairments on loans evaluated collectively. The tables include the underlying balance of loans receivable applicable to each category as of those dates as well as the activity in the allowance for loan losses for the three and nine months ended March 31, 2018 and March 31, 2017. Unless otherwise noted, the balance of loans reported in the tables below excludes yield adjustments and the allowance for loan loss. Allowance for Loan Losses and Loans Receivable At March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Balance of allowance for loan losses: Loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - $ - $ - Loans individually evaluated for impairment 83 - - - 50 - - 133 Loans collectively evaluated for impairment 2,371 14,010 9,885 253 2,636 433 527 30,115 Total allowance for loan losses $ 2,454 $ 14,010 $ 9,885 $ 253 $ 2,686 $ 433 $ 527 $ 30,248 Allowance for Loan Losses and Loans Receivable At March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Balance of loans receivable: Loans acquired with deteriorated credit quality $ 103 $ - $ - $ - $ 275 $ - $ - $ 378 Loans individually evaluated for impairment 7,901 127 7,711 - 2,403 1,582 - 19,724 Loans collectively evaluated for impairment 555,803 1,471,446 1,105,674 22,963 85,538 77,940 10,224 3,329,588 Total loans $ 563,807 $ 1,471,573 $ 1,113,385 $ 22,963 $ 88,216 $ 79,522 $ 10,224 $ 3,349,690 Unamortized yield adjustments 1,679 Loans receivable, net of yield adjustments $ 3,351,369 Allowance for Loan Losses and Loans Receivable Three Months Ended March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Changes in the allowance for loan losses for the three months ended March 31, 2018: At December 31, 2017: $ 2,440 $ 13,909 $ 9,665 $ 246 $ 2,706 $ 457 $ 643 $ 30,066 Total charge offs (61 ) - (7 ) - (89 ) (1 ) (167 ) (325 ) Total recoveries - - - - 55 - 29 84 Total provisions 75 101 227 7 14 (23 ) 22 423 Total allowance for loan losses $ 2,454 $ 14,010 $ 9,885 $ 253 $ 2,686 $ 433 $ 527 $ 30,248 Allowance for Loan Losses and Loans Receivable Nine Months Ended March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Changes in the allowance for loan losses for the nine months ended March 31, 2018: At June 30, 2017: $ 2,384 $ 13,941 $ 9,939 $ 35 $ 1,709 $ 501 $ 777 $ 29,286 Total charge offs (471 ) - (45 ) - (95 ) (1 ) (727 ) (1,339 ) Total recoveries 77 - - - 89 65 81 312 Total provisions 464 69 (9 ) 218 983 (132 ) 396 1,989 Total allowance for loan losses $ 2,454 $ 14,010 $ 9,885 $ 253 $ 2,686 $ 433 $ 527 $ 30,248 Allowance for Loan Losses and Loans Receivable Three Months Ended March 31, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Changes in the allowance for loan losses for the three months ended March 31, 2017: At December 31, 2016: $ 2,430 $ 12,226 $ 8,355 $ 29 $ 1,779 $ 556 $ 685 $ 26,060 Total charge offs (5 ) - - - (28 ) - (285 ) (318 ) Total recoveries 21 - - - 1 15 26 63 Total provisions (81 ) 1,060 512 (20 ) (12 ) (38 ) 388 1,809 Total allowance for loan losses $ 2,365 $ 13,286 $ 8,867 $ 9 $ 1,740 $ 533 $ 814 $ 27,614 Allowance for Loan Losses and Loans Receivable Nine Months Ended March 31, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Changes in the allowance for loan losses for the nine months ended March 31, 2017: At June 30, 2016: $ 2,370 $ 9,995 $ 7,846 $ 24 $ 2,784 $ 432 $ 778 $ 24,229 Total charge offs (69 ) - (78 ) - (221 ) (95 ) (621 ) (1,084 ) Total recoveries 202 - - - 17 16 41 276 Total provisions (138 ) 3,291 1,099 (15 ) (840 ) 180 616 4,193 Total allowance for loan losses $ 2,365 $ 13,286 $ 8,867 $ 9 $ 1,740 $ 533 $ 814 $ 27,614 Allowance for Loan Losses and Loans Receivable At June 30, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Balance of allowance for loan losses: Loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - $ - $ - Loans individually evaluated for impairment 154 - 39 - 6 - - 199 Loans collectively evaluated for impairment 2,230 13,941 9,900 35 1,703 501 777 29,087 Total allowance for loan losses $ 2,384 $ 13,941 $ 9,939 $ 35 $ 1,709 $ 501 $ 777 $ 29,286 Allowance for Loan Losses and Loans Receivable At June 30, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Balance of loans receivable: Loans acquired with deteriorated credit quality $ 97 $ - $ - $ - $ 497 $ - $ - 594 Loans individually evaluated for impairment 10,546 158 5,877 612 2,365 1,894 - 21,452 Loans collectively evaluated for impairment 556,680 1,412,417 1,079,187 3,203 71,609 80,928 16,383 3,220,407 Total loans $ 567,323 $ 1,412,575 $ 1,085,064 $ 3,815 $ 74,471 $ 82,822 $ 16,383 $ 3,242,453 Unamortized yield adjustments 2,808 Loans receivable, net of yield adjustments $ 3,245,261 The following tables present key indicators of credit quality regarding the Company’s loan portfolio based upon loan classification and contractual payment status at March 31, 2018 and June 30, 2017 based upon the methodology for identifying and reporting such loans as described in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017. Credit-Rating Classification of Loans Receivable At March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Non-classified $ 554,182 $ 1,471,446 $ 1,105,097 $ 22,716 $ 81,916 $ 77,590 $ 10,125 $ 3,323,072 Classified: Special Mention 498 - - 247 13 28 50 836 Substandard 9,127 127 8,288 - 6,287 1,904 47 25,780 Doubtful - - - - - - 2 2 Loss - - - - - - - - Total classified loans 9,625 127 8,288 247 6,300 1,932 99 26,618 Total loans $ 563,807 $ 1,471,573 $ 1,113,385 $ 22,963 $ 88,216 $ 79,522 $ 10,224 $ 3,349,690 Credit-Rating Classification of Loans Receivable At June 30, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Non-classified $ 552,961 $ 1,412,417 $ 1,078,711 $ 2,894 $ 66,886 $ 80,393 $ 16,166 $ 3,210,428 Classified: Special Mention 928 - - 309 1,098 120 139 2,594 Substandard 13,434 158 6,353 612 6,487 2,309 75 29,428 Doubtful - - - - - - 3 3 Loss - - - - - - - - Total classified loans 14,362 158 6,353 921 7,585 2,429 217 32,025 Total loans $ 567,323 $ 1,412,575 $ 1,085,064 $ 3,815 $ 74,471 $ 82,822 $ 16,383 $ 3,242,453 Contractual Payment Status of Loans Receivable At March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Current $ 561,018 $ 1,471,573 $ 1,111,850 $ 22,963 $ 86,284 $ 79,201 $ 10,093 $ 3,342,982 Past due: 30-59 days 977 - 679 - 57 60 38 1,811 60-89 days 24 - - - 100 - 48 172 90+ days 1,788 - 856 - 1,775 261 45 4,725 Total past due 2,789 - 1,535 - 1,932 321 131 6,708 Total loans $ 563,807 $ 1,471,573 $ 1,113,385 $ 22,963 $ 88,216 $ 79,522 $ 10,224 $ 3,349,690 Contractual Payment Status of Loans Receivable At June 30, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Current $ 560,054 $ 1,412,575 $ 1,083,736 $ 3,560 $ 72,826 $ 81,946 $ 16,083 $ 3,230,780 Past due: 30-59 days 1,749 - 60 255 29 187 91 2,371 60-89 days 403 - 318 - - 141 135 997 90+ days 5,117 - 950 - 1,616 548 74 8,305 Total past due 7,269 - 1,328 255 1,645 876 300 11,673 Total loans $ 567,323 $ 1,412,575 $ 1,085,064 $ 3,815 $ 74,471 $ 82,822 $ 16,383 $ 3,242,453 The following tables present information relating to the Company’s nonperforming and impaired loans at March 31, 2018 and June 30, 2017 based upon the methodology for identifying and reporting such loans as described in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017. Loans reported as “90+ days past due accruing” in the table immediately below are also reported in the preceding contractual payment status table under the heading “90+ days past due”. Performance Status of Loans Receivable At March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Performing $ 558,652 $ 1,471,446 $ 1,108,013 $ 22,963 $ 85,562 $ 78,640 $ 10,179 $ 3,335,455 Nonperforming: 90+ days past due accruing - - - - - - 45 45 Nonaccrual 5,155 127 5,372 - 2,654 882 - 14,190 Total nonperforming 5,155 127 5,372 - 2,654 882 45 14,235 Total loans $ 563,807 $ 1,471,573 $ 1,113,385 $ 22,963 $ 88,216 $ 79,522 $ 10,224 $ 3,349,690 Performance Status of Loans Receivable At June 30, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Performing $ 558,533 $ 1,412,417 $ 1,079,344 $ 3,560 $ 71,837 $ 81,581 $ 16,309 $ 3,223,581 Nonperforming: 90+ days past due accruing - - - - - - 74 74 Nonaccrual 8,790 158 5,720 255 2,634 1,241 - 18,798 Total nonperforming 8,790 158 5,720 255 2,634 1,241 74 18,872 Total loans $ 567,323 $ 1,412,575 $ 1,085,064 $ 3,815 $ 74,471 $ 82,822 $ 16,383 $ 3,242,453 Impairment Status of Loans Receivable At March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Carrying value of impaired loans: Non-impaired loans $ 555,803 $ 1,471,446 $ 1,105,674 $ 22,963 $ 85,538 $ 77,940 $ 10,224 $ 3,329,588 Impaired loans: Impaired loans with no allowance for impairment 7,260 127 7,711 - 2,578 1,582 - 19,258 Impaired loans with allowance for impairment: Recorded investment 744 - - - 100 - - 844 Allowance for impairment (83 ) - - - (50 ) - - (133 ) Balance of impaired loans net of allowance for impairment 661 - - - 50 - - 711 Total impaired loans, excluding allowance for impairment: 8,004 127 7,711 - 2,678 1,582 - 20,102 Total loans $ 563,807 $ 1,471,573 $ 1,113,385 $ 22,963 $ 88,216 $ 79,522 $ 10,224 $ 3,349,690 Unpaid principal balance of impaired loans: Total impaired loans $ 12,678 $ 930 $ 14,049 $ 106 $ 6,506 $ 2,613 $ - $ 36,882 Impairment Status of Loans Receivable At June 30, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Carrying value of impaired loans: Non-impaired loans $ 556,680 $ 1,412,417 $ 1,079,187 $ 3,203 $ 71,609 $ 80,928 $ 16,383 $ 3,220,407 Impaired loans: Impaired loans with no allowance for impairment 8,971 158 4,521 612 2,755 1,894 - 18,911 Impaired loans with allowance for impairment: Recorded investment 1,672 - 1,356 - 107 - - 3,135 Allowance for impairment (154 ) - (39 ) - (6 ) - - (199 ) Balance of impaired loans net of allowance for impairment 1,518 - 1,317 - 101 - - 2,936 Total impaired loans, excluding allowance for impairment: 10,643 158 5,877 612 2,862 1,894 - 22,046 Total loans $ 567,323 $ 1,412,575 $ 1,085,064 $ 3,815 $ 74,471 $ 82,822 $ 16,383 $ 3,242,453 Unpaid principal balance of impaired loans: Total impaired loans $ 16,479 $ 930 $ 10,002 $ 691 $ 6,682 $ 2,961 $ - $ 37,745 Impairment Status of Loans Receivable Three and Nine Months Ended March 31, 2018 and 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) For the three months ended March 31, 2018: Average balance of impaired loans $ 8,048 $ 130 $ 7,038 $ - $ 2,762 $ 1,563 $ - $ 19,541 Interest earned on impaired loans $ 33 $ - $ - $ - $ 1 $ 9 $ - $ 43 For the nine months ended March 31, 2018: Average balance of impaired loans $ 9,019 $ 141 $ 6,823 $ 137 $ 2,805 $ 1,693 $ - $ 20,618 Interest earned on impaired loans $ 99 $ - $ 4 $ - $ 4 $ 24 $ - $ 131 For the three months ended March 31, 2017: Average balance of impaired loans $ 12,933 $ 176 $ 6,066 $ 518 $ 3,134 $ 2,037 $ - $ 24,864 Interest earned on impaired loans $ 25 $ - $ - $ 3 $ 3 $ 10 $ - $ 41 For the nine months ended March 31, 2017: Average balance of impaired loans $ 13,055 $ 187 $ 6,372 $ 400 $ 3,154 $ 2,093 $ - $ 25,261 Interest earned on impaired loans $ 74 $ - $ - $ 3 $ 9 $ 34 $ - $ 120 The following table presents information regarding the restructuring of the Company’s troubled debts during the nine months ended March 31, 2018 and the nine months ended March 31, 2017, and any defaults during those periods of troubled debt restructurings (“TDRs”) that were restructured within 12 months of the date of default. Troubled Debt Restructurings of Loans Receivable Nine Months Ended March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (Dollars in Thousands) Troubled debt restructuring activity for the nine months ended March 31, 2018: Number of loans 5 - 2 - - 1 - 8 Pre-modification outstanding recorded investment $ 1,521 $ - $ 315 $ - $ - $ 72 $ - $ 1,908 Post-modification outstanding recorded investment 1,813 - 330 - - 71 - 2,214 Charge offs against the allowance for loan loss recognized at modification 145 - 7 - - 1 - 153 Troubled debt restructuring defaults for the nine months ended March 31, 2018: Number of loans - - - - - - - - Outstanding recorded investment $ - $ - $ - $ - $ - $ - $ - $ - Troubled Debt Restructurings of Loans Receivable Nine Months Ended March 31, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (Dollars in Thousands) Troubled debt restructuring activity for the nine months ended March 31, 2017: Number of loans 1 - 1 - - 2 - 4 Pre-modification outstanding recorded investment $ 197 $ - $ 244 $ - $ - $ 271 $ - $ 712 Post-modification outstanding recorded investment 186 - 223 - - 279 - 688 Charge offs against the allowance for loan loss recognized at modification 14 - 27 - - 12 - 53 Troubled debt restructuring defaults for the nine months ended March 31, 2017: Number of loans - - - - - - - - Outstanding recorded investment $ - $ - $ - $ - $ - $ - $ - $ - The manner in which the terms of a loan are modified through a troubled debt restructuring generally includes one or more of the following changes to the loan’s repayment terms: • Interest Rate Reduction • Capitalization of Prior Past Dues • Extension of Maturity or Balloon Date • Deferral of Principal Payments: • Payment Recalculation and Re-amortization |
Deposits
Deposits | 9 Months Ended |
Mar. 31, 2018 | |
Banking And Thrift [Abstract] | |
Deposits | 12. DEPOSITS Deposits are summarized as follows: March 31, June 30, 2018 2017 (In Thousands) Non-interest-bearing demand $ 270,217 $ 267,412 Interest-bearing demand 871,801 847,663 Savings and club 515,807 523,984 Certificates of deposits 1,409,973 1,291,068 Total deposits $ 3,067,798 $ 2,930,127 |
Borrowings
Borrowings | 9 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Borrowings | 13. BORROWINGS Fixed rate advances from the FHLB of New York mature as follows: March 31, 2018 June 30, 2017 Balance Weighted Average Interest Rate Balance Weighted Average Interest Rate (Dollars in Thousands) Maturing in years ending June 30: 2018 $ 630,225 1.99 $ 630,225 1.29 2021 388 4.94 469 4.94 2023 145,000 3.04 145,000 3.04 Total advances 775,613 2.19 % 775,694 1.62 % Unamortized fair value adjustments 12 2 Total advances, net of fair value adjustments $ 775,625 $ 775,696 At March 31, 2018, $630.2 million in advances are due within one year while the remaining $145.4 million in advances are due after one year of which $145.0 million are callable in April 2018. At March 31, 2018, FHLB advances were collateralized by the FHLB capital stock owned by the Bank and mortgage loans and securities with carrying values totaling approximately $2.0 billion and $163.7 million, respectively. At June 30, 2017, FHLB advances were collateralized by the FHLB capital stock owned by the Bank and mortgage loans and securities with carrying values totaling approximately $1.9 billion and $159.4 million, respectively. Borrowings at March 31, 2018 and June 30, 2017 also included overnight borrowings in the form of depositor sweep accounts totaling $34.4 million and $30.5 million, respectively. Depositor sweep accounts are short term borrowings representing funds that are withdrawn from a customer’s noninterest-bearing deposit account and invested in an uninsured overnight investment account that is collateralized by specified investment securities owned by the Bank. Borrowings at March 31, 2018 also included overnight borrowings totaling $42.0 million drawn for liquidity management purposes. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 9 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | 14. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives The Company uses various financial instruments, including derivatives, to manage its exposure to interest rate risk. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to specific wholesale funding positons. Fair Values of Derivative Instruments on the Statement of Financial Condition The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Statement of Financial Condition as of March 31, 2018 and June 30, 2017: March 31, 2018 Asset Derivatives Liability Derivatives Location Fair Value Location Fair Value (In Thousands) Derivatives designated as hedging instruments: Interest rate swaps Other assets $ 27,946 Other liabilities $ - Interest rate caps Other assets 118 Other liabilities - Total $ 28,064 $ - June 30, 2017 Asset Derivatives Liability Derivatives Location Fair Value Location Fair Value (In Thousands) Derivatives designated as hedging instruments: Interest rate swaps Other assets $ 7,670 Other liabilities $ 298 Interest rate caps Other assets 140 Other liabilities - Total $ 7,810 $ 298 Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using derivatives are primarily to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company has entered into interest rate swaps and caps as part of its interest rate risk management strategy. These interest rate products are designated as cash flow hedges. As of March 31, 2018, the Company had fifteen interest rate swaps with a notional of $1.2 billion and two interest rate caps with a notional of $75.0 million hedging certain FHLB advances and brokered deposits. For derivatives designated as cash flow hedges, the gain or loss on the derivative is recorded in other comprehensive income, net of tax, and subsequently reclassified into interest expense in the same period during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s variable rate wholesale funding positions. During the three and nine months ended March 31, 2018, the Company had $599,000 and $3.3 million, respectively, of reclassifications to interest expense. During the next twelve months, the Company estimates that $4.6 million will be reclassified as a reduction in interest expense. The table below presents the pre-tax effects of the Company’s derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 Amount of Gain (Loss) Recognized in OCI on Derivatives Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (In Thousands) Derivatives in cash flow hedging relationships: Interest rate swaps $ 11,672 Interest expense $ (352 ) Interest rate caps 50 Interest expense (247 ) Total $ 11,722 $ (599 ) Nine Months Ended March 31, 2018 Amount of Gain (Loss) Recognized in OCI on Derivatives Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (In Thousands) Derivatives in cash flow hedging relationships: Interest rate swaps $ 18,099 Interest expense $ (2,475 ) Interest rate caps 77 Interest expense (806 ) Total $ 18,176 $ (3,281 ) Three Months Ended March 31, 2017 Amount of Gain (Loss) Recognized in OCI on Derivatives Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (In Thousands) Derivatives in cash flow hedging relationships: Interest rate swaps $ 1,017 Interest expense $ (1,274 ) Interest rate caps 36 Interest expense (219 ) Total $ 1,053 $ (1,493 ) Nine Months Ended March 31, 2017 Amount of Gain (Loss) Recognized in OCI on Derivatives Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (In Thousands) Derivatives in cash flow hedging relationships: Interest rate swaps $ 26,439 Interest expense $ (4,509 ) Interest rate caps 126 Interest expense (571 ) Total $ 26,565 $ (5,080 ) Offsetting Derivatives The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives in the Consolidated Statement of Condition as of March 31, 2018 and June 30, 2017, respectively. The net amounts presented for derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the Consolidated Statement of Condition. March 31, 2018 Gross Amounts Not Offset Gross Amount Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Received Net Amount (In Thousands) Assets: Interest rate swaps $ 28,010 $ (64 ) $ 27,946 $ - $ (28,064 ) $ (118 ) Interest rate caps 118 - 118 - - 118 Total $ 28,128 $ (64 ) $ 28,064 $ - $ (28,064 ) $ - Gross Amounts Not Offset Gross Amount Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Posted Net Amount (In Thousands) Liabilities: Interest rate swaps $ 64 $ (64 ) $ - $ - $ - $ - Interest rate caps - - - - - - Total $ 64 $ (64 ) $ - $ - $ - $ - June 30, 2017 Gross Amounts Not Offset Gross Amount Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Received Net Amount (In Thousands) Assets: Interest rate swaps $ 12,839 $ (5,169 ) $ 7,670 $ - $ (5,770 ) $ 1,900 Interest rate caps 140 - 140 - - 140 Total $ 12,979 $ (5,169 ) $ 7,810 $ - $ (5,770 ) $ 2,040 Gross Amounts Not Offset Gross Amount Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Posted Net Amount (In Thousands) Liabilities: Interest rate swaps $ 5,467 $ (5,169 ) $ 298 $ - $ (298 ) $ - Interest rate caps - - - - - - Total $ 5,467 $ (5,169 ) $ 298 $ - $ (298 ) $ - Credit-risk-related Contingent Features The Company has agreements with each of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, then the Company could also be declared in default on its derivative obligations and could be required to terminate its derivative positions with the counterparty. The Company also has agreements with its derivative counterparties that contain a provision where if the Company fails to maintain its status as a well-capitalized institution, then the Company could be required to terminate its derivative positions with the counterparty. As of March 31, 2018 and June 30, 2017, the termination value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to those agreements was $0 and $302,000, respectively. As required under the enforceable master netting arrangement with its derivatives counterparties, at March 31, 2018, the Company received financial collateral of $28.2 million that was not included as an offsetting amount. By comparison, at June 30, 2017, the Company received financial collateral of $5.8 million and posted financial collateral in the amount of $1.0 million that were not included as offsetting amounts. In addition to the derivative instruments noted above, the Company’s pipeline of loans held for sale at March 31, 2018 and June 30, 2017, included $9.3 million and $18.4 million, respectively, of “in process” loans whose terms included interest rate locks to borrowers, which are considered free-standing derivative instruments whose fair values are not material to our financial condition or results of operations. |
Benefit Plans
Benefit Plans | 9 Months Ended |
Mar. 31, 2018 | |
Compensation And Retirement Disclosure [Abstract] | |
Benefit Plans | 15. BENEFIT PLANS Components of Net Periodic Expense The following table sets forth the aggregate net periodic benefit expense for the Bank’s Benefit Equalization Plan, Postretirement Welfare Plan, Directors’ Consultation and Retirement Plan and Atlas Bank Retirement Income Plan: Three Months Ended Nine Months Ended March 31, March 31, 2018 2017 2018 2017 (In Thousands) (In Thousands) Service cost $ 12 $ 8 $ 36 $ 24 Interest cost 93 95 279 285 Amortization of unrecognized past service liability - - - - Amortization of unrecognized loss 11 17 34 49 Expected return on assets (30 ) (62 ) (90 ) (186 ) Net periodic benefit cost $ 86 $ 58 $ 259 $ 172 |
Income Taxes
Income Taxes | 9 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 16. INCOME TAXES The following table presents a reconciliation between the reported income taxes for the periods presented and the income taxes which would be computed by applying the federal income tax rates applicable to those periods. The income tax rate of 28%, applicable to the reported periods in the current year ending June 30, 2018, reflects the transitional effect of a reduction in the Company’s federal income tax rate from 35%, applicable to the prior year ended June 30, 2017, to 21%, applicable to the forthcoming year ending June 30, 2019. The noted decrease in the Company’s federal income tax rate reflects the impact of federal income tax reform that was codified through the passage of the Act on December 22, 2017. Three Months Ended Nine Months Ended March 31, March 31, 2018 2017 2018 2017 (Dollars in Thousands) (Dollars in Thousands) Income before income taxes $ 7,639 $ 5,617 $ 22,025 $ 20,912 Statutory federal tax rate 28 % 35 % 28 % 35 % Federal income tax expense at statutory rate $ 2,139 $ 1,966 $ 6,167 $ 7,319 (Reduction) increases in income taxes resulting from: Tax exempt interest (180 ) (192 ) (529 ) (586 ) State tax, net of federal tax effect 493 320 1,463 1,179 Incentive stock options compensation expense 35 44 107 79 Income from bank-owned life insurance (343 ) (447 ) (1,053 ) (1,348 ) Disqualifying disposition on incentive stock options - (165 ) (11 ) (165 ) Non-deductible merger-related expenses 94 - 294 - Other items, net 24 23 223 235 Impact of federal income tax reform - - 3,486 - Total income tax expense $ 2,262 $ 1,549 $ 10,147 $ 6,713 Effective income tax rate 29.61 % 27.58 % 46.07 % 32.10 % The tax effects of existing temporary differences that give rise to deferred income tax assets and liabilities are as follows: March 31, June 30, 2018 2017 (Unaudited) (In Thousands) Deferred income tax assets: Purchase accounting $ 209 $ 466 Accumulated other comprehensive income: Defined benefit plans 312 434 Unrealized loss on securities available for sale 1,212 975 Unrealized loss on securities available for sale transferred to held to maturity 274 453 Allowance for loan losses 8,503 11,963 Benefit plans 1,928 2,675 Compensation 577 1,146 Stock-based compensation 1,641 2,278 Uncollected interest 1,053 2,700 Depreciation 910 1,221 Charitable contribution carryover 1,017 2,139 Other items 521 642 18,157 27,092 Valuation allowance (135 ) (135 ) 18,022 26,957 Deferred income tax liabilities: Deferred costs 1,484 2,083 Derivatives 7,808 2,582 Goodwill 4,385 6,167 Other items 447 671 14,124 11,503 Net deferred income tax asset $ 3,898 $ 15,454 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | 17. FAIR VALUE OF FINANCIAL INSTRUMENTS The guidance on fair value measurement establishes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs other than Level 1 prices, such as quoted for similar assets or liabilities; quoted prices in markets that are not active; or inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. In addition, the guidance requires the Company to disclose the fair value for assets and liabilities on both a recurring and non-recurring basis. Those assets and liabilities measured at fair value on a recurring basis are summarized below: March 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Debt securities available for sale: U.S. agency securities $ - $ 4,667 $ - $ 4,667 Obligations of state and political subdivisions - 26,733 - 26,733 Asset-backed securities - 182,066 - 182,066 Collateralized loan obligations - 178,342 - 178,342 Corporate bonds - 142,202 - 142,202 Trust preferred securities - 7,485 1,000 8,485 Total debt securities - 541,495 1,000 542,495 Mortgage-backed securities available for sale: Collateralized mortgage obligations - 25,601 - 25,601 Residential pass-through securities - 108,736 - 108,736 Commercial pass-through securities - 7,939 - 7,939 Total mortgage-backed securities - 142,276 - 142,276 Total securities available for sale $ - $ 683,771 $ 1,000 $ 684,771 Derivative instruments Interest rate swaps $ - $ 27,946 $ - $ 27,946 Interest rate caps - 118 - 118 Total derivatives $ - $ 28,064 $ - $ 28,064 June 30, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Debt securities available for sale: U.S. agency securities $ - $ 5,316 $ - $ 5,316 Obligations of state and political subdivisions - 27,740 - 27,740 Asset-backed securities - 162,429 - 162,429 Collateralized loan obligations - 98,154 - 98,154 Corporate bonds - 142,318 - 142,318 Trust preferred securities - 7,540 1,000 8,540 Total debt securities - 443,497 1,000 444,497 Mortgage-backed securities available for sale: Collateralized mortgage obligations - 30,536 - 30,536 Residential pass-through securities - 130,550 - 130,550 Commercial pass-through securities - 8,177 - 8,177 Total mortgage-backed securities - 169,263 - 169,263 Total securities available for sale $ - $ 612,760 $ 1,000 $ 613,760 Derivative instruments: Interest rate swaps $ - $ 7,372 $ - $ 7,372 Interest rate caps - 140 - 140 Total derivatives $ - $ 7,512 $ - $ 7,512 The fair values of securities available for sale (carried at fair value) or held to maturity (carried at amortized cost) are primarily determined by obtaining matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The Company held one trust preferred security whose fair value of $1.0 million at March 31, 2018 was determined using Level 3 inputs. For the periods ended March 31, 2018 and June 30, 2017, management has been unable to obtain a market quote for this security. Consequently, the security’s fair value as reported at March 31, 2018 and June 30, 2017, is based upon the present value of expected future cash flows assuming the security continues to meet all of its payment obligations and utilizing a discount rate based upon the security’s contractual interest rate. The Company has contracted with a third party vendor to provide periodic valuations for its interest rate derivatives to determine the fair value of its interest rate caps and swaps. The vendor utilizes standard valuation methodologies applicable to interest rate derivatives such as discounted cash flow analysis and extensions of the Black-Scholes model. Such valuations are based upon readily observable market data and are therefore considered Level 2 valuations by the Company. In addition to the financial instruments noted above, at March 31, 2018 and June 30, 2017, the Company’s pipeline of loans held for sale included $9.3 million and $18.4 million, respectively, of “in process” loans whose terms included interest rate locks to borrowers that were paired with a “non-binding” best-efforts commitment to sell the loan to a buyer at a fixed price and within a predetermined timeframe after the sale commitment was established. Those assets and liabilities measured at fair value on a non-recurring basis are summarized below: March 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Impaired loans: Residential mortgage $ - $ - $ 4,057 $ 4,057 Non-residential mortgage - - 798 798 Commercial business - - 162 162 Total $ - $ - $ 5,017 $ 5,017 June 30, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Impaired loans: Residential mortgage $ - $ - $ 5,711 $ 5,711 Non-residential mortgage - - 2,126 2,126 Commercial business - - 119 119 Total $ - $ - $ 7,956 $ 7,956 The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized adjusted Level 3 inputs to determine fair value: March 31, 2018 Fair Value Valuation Techniques Unobservable Input Range Weighted Average (In Thousands) Impaired loans: Residential mortgage $ 4,057 Market valuation of collateral (1) Selling costs (2) 6% - 25% 10.08 % Non-residential mortgage 798 Market valuation of collateral (1) Selling costs (2) 13% - 14% 13.34 % Commercial business 162 Market valuation of collateral (1) Selling costs (2) 12% - 20% 14.47 % Total $ 5,017 June 30, 2017 Fair Value Valuation Techniques Unobservable Input Range Weighted Average (In Thousands) Impaired loans: Residential mortgage $ 5,711 Market valuation of collateral (1) Selling costs (2) 6% - 21% 8.12 % Non-residential mortgage 2,126 Market valuation of collateral (1) Selling costs (2) 0% - 12% 6.93 % Commercial business 119 Market valuation of collateral (1) Selling costs (2) 9% - 20% 12.79 % Total $ 7,956 (1) The fair value of impaired loans is generally determined based on an independent appraisal of the market value of a loan’s underlying collateral. (2) The fair value basis of impaired loans is adjusted to reflect management estimates of selling costs including, but not necessarily limited to, real estate brokerage commissions and title transfer fees. An impaired loan is evaluated and valued at the time the loan is identified as impaired at the lower of cost or market value. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Market value is measured based on the value of the collateral securing the loan and is classified at a Level 3 in the fair value hierarchy. Once a loan is identified as individually impaired, management measures impairment in accordance with the FASB’s guidance on accounting by creditors for impairment of a loan with the fair value estimated using the market value of the collateral reduced by estimated disposal costs. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceeds the recorded investments in such loans. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly. At March 31, 2018, impaired loans valued using Level 3 inputs comprised loans with principal balances totaling $5.1 million and valuation allowances of $133,000 reflecting fair values of $5.0 million. By comparison, at June 30, 2017, impaired loans valued using Level 3 inputs comprised loans with principal balances totaling $8.2 million and valuation allowances of $199,000 reflecting fair values of $8.0 million. Once a loan is foreclosed, the fair value of the real estate owned continues to be evaluated based upon the market value of the repossessed real estate originally securing the loan. At March 31, 2018 and June 30, 2017, the Company held no real estate owned whose carrying value was written down utilizing Level 3 inputs. The following methods and assumptions were used to estimate the fair value of each class of financial instruments at March 31, 2018 and June 30, 2017: Cash and Cash Equivalents, Interest Receivable and Interest Payable. The carrying amounts for cash and cash equivalents, interest receivable and interest payable approximate fair value because they mature in three months or less. Securities. See the discussion presented above concerning assets measured at fair value on a recurring basis. Loans Receivable. Except for certain impaired loans as previously discussed, the fair value of loans receivable is estimated by discounting the future cash flows, using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities, of such loans. FHLB of New York Stock. The carrying amount of restricted investment in bank stock approximates fair value, and considers the limited marketability of such securities. Deposits. The fair value of demand, savings and club accounts is equal to the amount payable on demand at the reporting date. The fair value of certificates of deposit is estimated using rates currently offered for deposits of similar remaining maturities. The fair value estimates do not include the benefit that results from the low-cost funding provided by deposit liabilities compared to the cost of borrowing funds in the market. Advances from FHLB. Fair value is estimated using rates currently offered for advances of similar remaining maturities. Interest Rate Derivatives. See the discussion presented above concerning assets measured at fair value on a recurring basis. Commitments. The fair value of commitments to fund credit lines and originate or participate in loans is estimated using fees currently charged to enter into similar agreements taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed rate loan commitments, fair value also considers the difference between current levels of interest and the committed rates. The carrying value, represented by the net deferred fee arising from the unrecognized commitment, and the fair value, determined by discounting the remaining contractual fee over the term of the commitment using fees currently charged to enter into similar agreements with similar credit risk, is not considered material for disclosure. The carrying amounts and fair values of financial instruments are as follows: March 31, 2018 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In Thousands) Financial assets: Cash and cash equivalents $ 38,283 $ 38,283 $ 38,283 $ - $ - Debt securities available for sale 542,495 542,495 - 541,495 1,000 Mortgage-backed securities available for sale 142,276 142,276 - 142,276 - Debt securities held to maturity 128,011 126,045 - 126,045 - Mortgage-backed securities held to maturity 331,369 325,233 - 325,233 - Loans held-for-sale 2,377 2,377 - 2,377 - Net loans receivable 3,321,121 3,254,183 - - 3,254,183 FHLB Stock 39,112 N/A N/A N/A N/A Interest receivable 13,926 13,926 - 4,197 9,729 Financial liabilities: Deposits (1) 3,067,798 3,056,111 1,657,824 - 1,398,286 Borrowings 852,009 856,046 - - 856,046 Interest payable on borrowings 1,647 1,647 - - 1,647 (1) Includes accrued interest payable on deposits of $696,000 at March 31, 2018. June 30, 2017 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In Thousands) Financial assets: Cash and cash equivalents $ 78,237 $ 78,237 $ 78,237 $ - $ - Debt securities available for sale 444,497 444,497 - 443,497 1,000 Mortgage-backed securities available for sale 169,263 169,263 - 169,263 - Debt securities held to maturity 144,713 145,505 - 145,505 - Mortgage-backed securities held to maturity 348,608 350,289 - 350,289 - Loans held-for-sale 4,692 4,692 - 4,692 - Net loans receivable 3,215,975 3,137,304 - - 3,137,304 FHLB Stock 39,958 N/A N/A N/A N/A Interest receivable 12,493 12,493 6 3,169 9,318 Financial liabilities: Deposits (1) 2,930,127 2,943,908 1,639,059 - 1,304,849 Borrowings 806,228 823,435 - - 823,435 Interest payable on borrowings 1,391 1,391 - - 1,391 (1) Includes accrued interest payable on deposits of $382,000 at June 30, 2017. Limitations. Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instruments. These estimates do not reflect any premium or discount that could result from offering for sale at one time the entire holdings of a particular financial instrument. Because no market value exists for a significant portion of the financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature, involve uncertainties and matters of judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. The fair value estimates are based on existing on-and-off balance sheet financial instruments without attempting to value anticipated future business and the value of assets and liabilities that are not considered financial instruments. Other significant assets and liabilities that are not considered financial assets and liabilities include premises and equipment, and advances from borrowers for taxes. In addition, the ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates. Finally, reasonable comparability between financial institutions may not be likely due to the wide range of permitted valuation techniques and numerous estimates which must be made given the absence of active secondary markets for many of the financial instruments. This lack of uniform valuation methodologies introduces a greater degree of subjectivity to these estimated fair values. |
Comprehensive Income
Comprehensive Income | 9 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Comprehensive Income | 18. COMPREHENSIVE INCOME The components of accumulated other comprehensive income included in stockholders’ equity at March 31, 2018 and June 30, 2017 are as follows: March 31, June 30, 2018 2017 (In Thousands) Net unrealized loss on securities available for sale $ (4,508 ) $ (2,385 ) Tax effect 1,212 975 Net of tax amount (3,296 ) (1,410 ) Net unrealized loss on securities available for sale transferred to held to maturity (974 ) (1,109 ) Tax effect 274 453 Net of tax amount (700 ) (656 ) Fair value adjustments on derivatives 27,776 6,319 Tax effect (7,808 ) (2,582 ) Net of tax amount 19,968 3,737 Benefit plan adjustments (1,110 ) (1,061 ) Tax effect 312 434 Net of tax amount (798 ) (627 ) Total accumulated other comprehensive income $ 15,174 $ 1,044 Other comprehensive income and related tax effects for the three and nine months ended March 31, 2018 and March 31, 2017 are presented in the following table: Three Months Ended Nine Months Ended March 31, March 31, 2018 2017 2018 2017 (In Thousands) (In Thousands) Net unrealized holding (loss) gain on securities available for sale $ (2,045 ) $ 4,881 $ (2,123 ) $ (1,556 ) Amortization of net unrealized holding gain (loss) on securities available for sale transferred to held to maturity (1) 32 (124 ) 135 (160 ) Net realized gain on securities available for sale - 391 - 402 Fair value adjustments on derivatives 12,323 2,546 21,457 31,645 Benefit plans: Amortization of actuarial loss (2) 12 17 34 49 Net actuarial loss - - (83 ) (394 ) Net change in benefit plan accrued expense 12 17 (49 ) (345 ) Other comprehensive income before taxes 10,322 7,711 19,420 29,986 Stranded tax effects (3) - - (1,381 ) - Tax effect (4) (2,941 ) (2,963 ) (5,290 ) (12,496 ) Total other comprehensive income $ 7,381 $ 4,748 $ 12,749 $ 17,490 (1) Represents amounts reclassified out of accumulated other comprehensive income and included in interest income on taxable securities. (2 ) Represents amounts reclassified out of accumulated other comprehensive income and included in the computation of net periodic pension expense. See Note 15 – Benefit Plans for additional information. (3) Represents amounts reclassified from accumulated other comprehensive income that did not reflect the appropriate tax rate. (4 ) The amounts included in income taxes for items reclassified out of accumulated other comprehensive income totaled $3 and $122 for the three and nine months ended March 31, 2018, respectively, and $167 and $23 for the three and nine months ended March 31, 2017, respectively. |
Net Income Per Common Share (27
Net Income Per Common Share ("EPS") (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share Computations | The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations: Three Months Ended Nine Months Ended March 31, 2018 March 31, 2018 Income (Numerator) Shares (Denominator) Per Share Amount Income (Numerator) Shares (Denominator) Per Share Amount (In Thousands, Except Per Share Data) (In Thousands, Except Per Share Data) Net income $ 5,377 $ 11,878 Basic earnings per share, income available to common stockholders $ 5,377 75,492 $ 0.07 $ 11,878 77,452 $ 0.15 Effect of dilutive securities: Stock options 47 58 $ 5,377 75,539 $ 0.07 $ 11,878 77,510 $ 0.15 Three Months Ended Nine Months Ended March 31, 2017 March 31, 2017 Income (Numerator) Shares (Denominator) Per Share Amount Income (Numerator) Shares (Denominator) Per Share Amount (In Thousands, Except Per Share Data) (In Thousands, Except Per Share Data) Net income $ 4,068 $ 14,199 Basic earnings per share, income available to common stockholders $ 4,068 84,542 $ 0.05 $ 14,199 85,326 $ 0.17 Effect of dilutive securities: Stock options 82 76 $ 4,068 84,624 $ 0.05 $ 14,199 85,402 $ 0.17 |
Securities Available for Sale (
Securities Available for Sale (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Schedule of Available-for-sale Securities [Line Items] | |
Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities | March 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Securities available for sale: Debt securities: U.S. agency securities $ 4,717 $ - $ 50 $ 4,667 Obligations of state and political subdivisions 27,446 6 719 26,733 Asset-backed securities 180,180 2,211 325 182,066 Collateralized loan obligations 178,529 232 419 178,342 Corporate bonds 143,009 142 949 142,202 Trust preferred securities 8,918 - 433 8,485 Total debt securities 542,799 2,591 2,895 542,495 Mortgage-backed securities: Collateralized mortgage obligations: Federal Home Loan Mortgage Corporation 8,501 - 290 8,211 Federal National Mortgage Association 18,307 - 917 17,390 Total collateralized mortgage obligations 26,808 - 1,207 25,601 Mortgage pass-through securities: Residential pass-through securities: Federal Home Loan Mortgage Corporation 82,595 57 2,501 80,151 Federal National Mortgage Association 29,090 97 602 28,585 Total residential pass-through securities 111,685 154 3,103 108,736 Commercial pass-through securities: Federal National Mortgage Association 7,987 - 48 7,939 Total commercial pass-through securities 7,987 - 48 7,939 Total mortgage-backed securities 146,480 154 4,358 142,276 Total securities available for sale $ 689,279 $ 2,745 $ 7,253 $ 684,771 June 30, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Securities available for sale: Debt securities: U.S. agency securities $ 5,304 $ 35 $ 23 $ 5,316 Obligations of state and political subdivisions 27,465 305 30 27,740 Asset-backed securities 163,120 316 1,007 162,429 Collateralized loan obligations 98,078 185 109 98,154 Corporate bonds 143,017 826 1,525 142,318 Trust preferred securities 8,912 - 372 8,540 Total debt securities 445,896 1,667 3,066 444,497 Mortgage-backed securities: Collateralized mortgage obligations: Federal Home Loan Mortgage Corporation 9,902 38 66 9,874 Federal National Mortgage Association 21,222 - 560 20,662 Total collateralized mortgage obligations 31,124 38 626 30,536 Mortgage pass-through securities: Residential pass-through securities: Federal Home Loan Mortgage Corporation 95,501 352 999 94,854 Federal National Mortgage Association 35,516 425 245 35,696 Total residential pass-through securities 131,017 777 1,244 130,550 Commercial pass-through securities: Federal National Mortgage Association 8,108 69 - 8,177 Total commercial pass-through securities 8,108 69 - 8,177 Total mortgage-backed securities 170,249 884 1,870 169,263 Total securities available for sale $ 616,145 $ 2,551 $ 4,936 $ 613,760 |
Securities Available for Sale [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Stratification by Contractual Maturity of Securities | March 31, 2018 Amortized Cost Fair Value (In Thousands) Debt securities available for sale: Due in one year or less $ 3 $ 3 Due after one year through five years 95,025 94,876 Due after five years through ten years 106,303 104,720 Due after ten years 341,468 342,896 Total $ 542,799 $ 542,495 |
Securities Held to Maturity (Ta
Securities Held to Maturity (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Schedule of Held-to-maturity Securities [Line Items] | |
Amortized Cost, Gross Unrecognized Gains and Losses and Fair Values of Securities | March 31, 2018 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value (In Thousands) Securities held to maturity: Debt securities: Obligations of state and political subdivisions $ 98,011 $ 44 $ 1,849 $ 96,206 Subordinated debt 30,000 22 183 29,839 Total debt securities 128,011 66 2,032 126,045 Mortgage-backed securities: Collateralized mortgage obligations: Government National Mortgage Association 21,680 - 516 21,164 Federal Home Loan Mortgage Corporation 12,516 - 496 12,020 Federal National Mortgage Association 95 7 - 102 Non-agency securities 18 - - 18 Total collateralized mortgage obligations 34,309 7 1,012 33,304 Mortgage pass-through securities: Residential pass-through securities: Federal Home Loan Mortgage Corporation 29,196 1 848 28,349 Federal National Mortgage Association 122,409 22 2,313 120,118 Total residential pass-through securities 151,605 23 3,161 148,467 Commercial pass-through securities: Government National Mortgage Association 1,244 - 5 1,239 Federal National Mortgage Association 144,211 - 1,988 142,223 Total commercial pass-through securities 145,455 - 1,993 143,462 Total mortgage-backed securities 331,369 30 6,166 325,233 Total securities held to maturity $ 459,380 $ 96 $ 8,198 $ 451,278 June 30, 2017 Amortized Cost Gross Unrecognized Gains Gross Unrecognized Losses Fair Value (In Thousands) Securities held to maturity: Debt securities: U.S. agency securities $ 35,000 $ - $ 48 $ 34,952 Obligations of state and political subdivisions 94,713 996 156 95,553 Subordinated debt 15,000 - - 15,000 Total debt securities 144,713 996 204 145,505 Mortgage-backed securities: Collateralized mortgage obligations: Government National Mortgage Association 2,199 - 46 2,153 Federal Home Loan Mortgage Corporation 15,522 - 357 15,165 Federal National Mortgage Association 111 10 - 121 Non-agency securities 22 - - 22 Total collateralized mortgage obligations 17,854 10 403 17,461 Mortgage pass-through securities: Residential pass-through securities: Federal Home Loan Mortgage Corporation 35,289 1 338 34,952 Federal National Mortgage Association 143,524 428 597 143,355 Total residential pass-through securities 178,813 429 935 178,307 Commercial pass-through securities: Government National Mortgage Association 1,989 - 11 1,978 Federal National Mortgage Association 149,952 2,622 31 152,543 Total commercial pass-through securities 151,941 2,622 42 154,521 Total mortgage-backed securities 348,608 3,061 1,380 350,289 Total securities held to maturity $ 493,321 $ 4,057 $ 1,584 $ 495,794 |
Securities Held to Maturity [Member] | |
Schedule of Held-to-maturity Securities [Line Items] | |
Stratification by Contractual Maturity of Securities | March 31, 2018 Amortized Cost Fair Value (In Thousands) Debt securities held to maturity: Due in one year or less $ 3,366 $ 3,359 Due after one year through five years 29,039 28,697 Due after five years through ten years 82,816 81,344 Due after ten years 12,790 12,645 Total $ 128,011 $ 126,045 |
Impairment of Securities (Table
Impairment of Securities (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Securities Available for Sale [Member] | |
Schedule of Fair Values and Gross Unrealized Losses on Investments | The following two tables summarize the fair values and gross unrealized losses within the available for sale and held to maturity portfolios March 31, 2018 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In Thousands) Securities Available for Sale: U.S. agency securities $ 3,090 $ 31 $ 1,577 $ 19 $ 4,667 $ 50 Obligations of state and political subdivisions 25,089 692 550 27 25,639 719 Asset-backed securities 10,905 11 29,920 314 40,825 325 Collateralized loan obligations 108,643 419 - - 108,643 419 Corporate bonds 27,934 59 64,083 890 92,017 949 Trust preferred securities - - 7,485 433 7,485 433 Collateralized mortgage obligations 4,913 105 20,688 1,102 25,601 1,207 Residential pass-through securities 63,936 1,669 28,005 1,434 91,941 3,103 Commercial pass-through securities 7,939 48 - - 7,939 48 Total $ 252,449 $ 3,034 $ 152,308 $ 4,219 $ 404,757 $ 7,253 June 30, 2017 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In Thousands) Securities Available for Sale: U.S. agency securities $ 440 $ - $ 1,746 $ 23 $ 2,186 $ 23 Obligations of state and political subdivisions 3,872 30 - - 3,872 30 Asset-backed securities 16,860 84 86,975 923 103,835 1,007 Collateralized loan obligations 46,016 108 6,000 1 52,016 109 Corporate bonds - - 73,500 1,525 73,500 1,525 Trust preferred securities - - 7,540 372 7,540 372 Collateralized mortgage obligations 26,090 626 - - 26,090 626 Residential pass-through securities 77,301 1,244 - - 77,301 1,244 Total $ 170,579 $ 2,092 $ 175,761 $ 2,844 $ 346,340 $ 4,936 |
Securities Held to Maturity [Member] | |
Schedule of Fair Values and Gross Unrealized Losses on Investments | March 31, 2018 Less than 12 Months 12 Months or More Total Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses (In Thousands) Securities Held to Maturity: Obligations of state and political subdivisions $ 84,494 $ 1,653 $ 4,020 $ 196 $ 88,514 $ 1,849 Subordinated debt 19,817 183 - - 19,817 183 Collateralized mortgage obligations 19,406 431 13,778 581 33,184 1,012 Residential pass-through securities 80,903 1,433 66,449 1,728 147,352 3,161 Commercial pass-through securities 142,222 1,988 1,240 5 143,462 1,993 Total $ 346,842 $ 5,688 $ 85,487 $ 2,510 $ 432,329 $ 8,198 June 30, 2017 Less than 12 Months 12 Months or More Total Fair Value Unrecognized Losses Fair Value Unrecognized Losses Fair Value Unrecognized Losses (In Thousands) Securities Held to Maturity: U.S. agency securities $ 24,969 $ 31 $ 9,983 $ 17 $ 34,952 $ 48 Obligations of state and political subdivisions 19,232 150 409 6 19,641 156 Collateralized mortgage obligations 17,317 403 22 - 17,339 403 Residential pass-through securities 119,538 887 1,750 48 121,288 935 Commercial pass-through securities 11,110 42 - - 11,110 42 Total $ 192,166 $ 1,513 $ 12,164 $ 71 $ 204,330 $ 1,584 |
Loan Quality and Allowance fo31
Loan Quality and Allowance for Loan Losses (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Impaired Loans Acquired Accretable Yield Change | The following table presents the changes in the accretable yield relating to the acquired credit-impaired loans for the three and nine months ended March 31, 2018 and March 31, 2017. Three Months Ended March 31, 2018 2017 (In Thousands) Beginning balance $ 206 $ 312 Accretion to interest income - (97 ) Disposals - - Reclassifications from nonaccretable difference - - Ending balance $ 206 $ 215 Nine Months Ended March 31, 2018 2017 (In Thousands) Beginning balance $ 215 $ 335 Accretion to interest income (9 ) (101 ) Disposals - (19 ) Reclassifications from nonaccretable difference - - Ending balance $ 206 $ 215 |
Allowance for Loan Losses and Loans Receivable | The following tables present the balance of the allowance for loan losses at March 31, 2018 and June 30, 2017 based upon the calculation methodology as described in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017. The tables identify the valuation allowances attributable to specifically identified impairments on individually evaluated loans, including those acquired with deteriorated credit quality, as well as valuation allowances for impairments on loans evaluated collectively. The tables include the underlying balance of loans receivable applicable to each category as of those dates as well as the activity in the allowance for loan losses for the three and nine months ended March 31, 2018 and March 31, 2017. Unless otherwise noted, the balance of loans reported in the tables below excludes yield adjustments and the allowance for loan loss. Allowance for Loan Losses and Loans Receivable At March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Balance of allowance for loan losses: Loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - $ - $ - Loans individually evaluated for impairment 83 - - - 50 - - 133 Loans collectively evaluated for impairment 2,371 14,010 9,885 253 2,636 433 527 30,115 Total allowance for loan losses $ 2,454 $ 14,010 $ 9,885 $ 253 $ 2,686 $ 433 $ 527 $ 30,248 Allowance for Loan Losses and Loans Receivable At March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Balance of loans receivable: Loans acquired with deteriorated credit quality $ 103 $ - $ - $ - $ 275 $ - $ - $ 378 Loans individually evaluated for impairment 7,901 127 7,711 - 2,403 1,582 - 19,724 Loans collectively evaluated for impairment 555,803 1,471,446 1,105,674 22,963 85,538 77,940 10,224 3,329,588 Total loans $ 563,807 $ 1,471,573 $ 1,113,385 $ 22,963 $ 88,216 $ 79,522 $ 10,224 $ 3,349,690 Unamortized yield adjustments 1,679 Loans receivable, net of yield adjustments $ 3,351,369 Allowance for Loan Losses and Loans Receivable Three Months Ended March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Changes in the allowance for loan losses for the three months ended March 31, 2018: At December 31, 2017: $ 2,440 $ 13,909 $ 9,665 $ 246 $ 2,706 $ 457 $ 643 $ 30,066 Total charge offs (61 ) - (7 ) - (89 ) (1 ) (167 ) (325 ) Total recoveries - - - - 55 - 29 84 Total provisions 75 101 227 7 14 (23 ) 22 423 Total allowance for loan losses $ 2,454 $ 14,010 $ 9,885 $ 253 $ 2,686 $ 433 $ 527 $ 30,248 Allowance for Loan Losses and Loans Receivable Nine Months Ended March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Changes in the allowance for loan losses for the nine months ended March 31, 2018: At June 30, 2017: $ 2,384 $ 13,941 $ 9,939 $ 35 $ 1,709 $ 501 $ 777 $ 29,286 Total charge offs (471 ) - (45 ) - (95 ) (1 ) (727 ) (1,339 ) Total recoveries 77 - - - 89 65 81 312 Total provisions 464 69 (9 ) 218 983 (132 ) 396 1,989 Total allowance for loan losses $ 2,454 $ 14,010 $ 9,885 $ 253 $ 2,686 $ 433 $ 527 $ 30,248 Allowance for Loan Losses and Loans Receivable Three Months Ended March 31, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Changes in the allowance for loan losses for the three months ended March 31, 2017: At December 31, 2016: $ 2,430 $ 12,226 $ 8,355 $ 29 $ 1,779 $ 556 $ 685 $ 26,060 Total charge offs (5 ) - - - (28 ) - (285 ) (318 ) Total recoveries 21 - - - 1 15 26 63 Total provisions (81 ) 1,060 512 (20 ) (12 ) (38 ) 388 1,809 Total allowance for loan losses $ 2,365 $ 13,286 $ 8,867 $ 9 $ 1,740 $ 533 $ 814 $ 27,614 Allowance for Loan Losses and Loans Receivable Nine Months Ended March 31, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Changes in the allowance for loan losses for the nine months ended March 31, 2017: At June 30, 2016: $ 2,370 $ 9,995 $ 7,846 $ 24 $ 2,784 $ 432 $ 778 $ 24,229 Total charge offs (69 ) - (78 ) - (221 ) (95 ) (621 ) (1,084 ) Total recoveries 202 - - - 17 16 41 276 Total provisions (138 ) 3,291 1,099 (15 ) (840 ) 180 616 4,193 Total allowance for loan losses $ 2,365 $ 13,286 $ 8,867 $ 9 $ 1,740 $ 533 $ 814 $ 27,614 Allowance for Loan Losses and Loans Receivable At June 30, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Balance of allowance for loan losses: Loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - $ - $ - Loans individually evaluated for impairment 154 - 39 - 6 - - 199 Loans collectively evaluated for impairment 2,230 13,941 9,900 35 1,703 501 777 29,087 Total allowance for loan losses $ 2,384 $ 13,941 $ 9,939 $ 35 $ 1,709 $ 501 $ 777 $ 29,286 Allowance for Loan Losses and Loans Receivable At June 30, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Balance of loans receivable: Loans acquired with deteriorated credit quality $ 97 $ - $ - $ - $ 497 $ - $ - 594 Loans individually evaluated for impairment 10,546 158 5,877 612 2,365 1,894 - 21,452 Loans collectively evaluated for impairment 556,680 1,412,417 1,079,187 3,203 71,609 80,928 16,383 3,220,407 Total loans $ 567,323 $ 1,412,575 $ 1,085,064 $ 3,815 $ 74,471 $ 82,822 $ 16,383 $ 3,242,453 Unamortized yield adjustments 2,808 Loans receivable, net of yield adjustments $ 3,245,261 |
Credit-Rating Classification of Loans Receivable | The following tables present key indicators of credit quality regarding the Company’s loan portfolio based upon loan classification and contractual payment status at March 31, 2018 and June 30, 2017 based upon the methodology for identifying and reporting such loans as described in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017. Credit-Rating Classification of Loans Receivable At March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Non-classified $ 554,182 $ 1,471,446 $ 1,105,097 $ 22,716 $ 81,916 $ 77,590 $ 10,125 $ 3,323,072 Classified: Special Mention 498 - - 247 13 28 50 836 Substandard 9,127 127 8,288 - 6,287 1,904 47 25,780 Doubtful - - - - - - 2 2 Loss - - - - - - - - Total classified loans 9,625 127 8,288 247 6,300 1,932 99 26,618 Total loans $ 563,807 $ 1,471,573 $ 1,113,385 $ 22,963 $ 88,216 $ 79,522 $ 10,224 $ 3,349,690 Credit-Rating Classification of Loans Receivable At June 30, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Non-classified $ 552,961 $ 1,412,417 $ 1,078,711 $ 2,894 $ 66,886 $ 80,393 $ 16,166 $ 3,210,428 Classified: Special Mention 928 - - 309 1,098 120 139 2,594 Substandard 13,434 158 6,353 612 6,487 2,309 75 29,428 Doubtful - - - - - - 3 3 Loss - - - - - - - - Total classified loans 14,362 158 6,353 921 7,585 2,429 217 32,025 Total loans $ 567,323 $ 1,412,575 $ 1,085,064 $ 3,815 $ 74,471 $ 82,822 $ 16,383 $ 3,242,453 |
Contractual Payment Status of Loans Receivable | Contractual Payment Status of Loans Receivable At March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Current $ 561,018 $ 1,471,573 $ 1,111,850 $ 22,963 $ 86,284 $ 79,201 $ 10,093 $ 3,342,982 Past due: 30-59 days 977 - 679 - 57 60 38 1,811 60-89 days 24 - - - 100 - 48 172 90+ days 1,788 - 856 - 1,775 261 45 4,725 Total past due 2,789 - 1,535 - 1,932 321 131 6,708 Total loans $ 563,807 $ 1,471,573 $ 1,113,385 $ 22,963 $ 88,216 $ 79,522 $ 10,224 $ 3,349,690 Contractual Payment Status of Loans Receivable At June 30, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Current $ 560,054 $ 1,412,575 $ 1,083,736 $ 3,560 $ 72,826 $ 81,946 $ 16,083 $ 3,230,780 Past due: 30-59 days 1,749 - 60 255 29 187 91 2,371 60-89 days 403 - 318 - - 141 135 997 90+ days 5,117 - 950 - 1,616 548 74 8,305 Total past due 7,269 - 1,328 255 1,645 876 300 11,673 Total loans $ 567,323 $ 1,412,575 $ 1,085,064 $ 3,815 $ 74,471 $ 82,822 $ 16,383 $ 3,242,453 |
Performance Status of Loans Receivable | The following tables present information relating to the Company’s nonperforming and impaired loans at March 31, 2018 and June 30, 2017 based upon the methodology for identifying and reporting such loans as described in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2017. Loans reported as “90+ days past due accruing” in the table immediately below are also reported in the preceding contractual payment status table under the heading “90+ days past due”. Performance Status of Loans Receivable At March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Performing $ 558,652 $ 1,471,446 $ 1,108,013 $ 22,963 $ 85,562 $ 78,640 $ 10,179 $ 3,335,455 Nonperforming: 90+ days past due accruing - - - - - - 45 45 Nonaccrual 5,155 127 5,372 - 2,654 882 - 14,190 Total nonperforming 5,155 127 5,372 - 2,654 882 45 14,235 Total loans $ 563,807 $ 1,471,573 $ 1,113,385 $ 22,963 $ 88,216 $ 79,522 $ 10,224 $ 3,349,690 Performance Status of Loans Receivable At June 30, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Performing $ 558,533 $ 1,412,417 $ 1,079,344 $ 3,560 $ 71,837 $ 81,581 $ 16,309 $ 3,223,581 Nonperforming: 90+ days past due accruing - - - - - - 74 74 Nonaccrual 8,790 158 5,720 255 2,634 1,241 - 18,798 Total nonperforming 8,790 158 5,720 255 2,634 1,241 74 18,872 Total loans $ 567,323 $ 1,412,575 $ 1,085,064 $ 3,815 $ 74,471 $ 82,822 $ 16,383 $ 3,242,453 |
Impairment Status of Loans Receivable | Impairment Status of Loans Receivable At March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Carrying value of impaired loans: Non-impaired loans $ 555,803 $ 1,471,446 $ 1,105,674 $ 22,963 $ 85,538 $ 77,940 $ 10,224 $ 3,329,588 Impaired loans: Impaired loans with no allowance for impairment 7,260 127 7,711 - 2,578 1,582 - 19,258 Impaired loans with allowance for impairment: Recorded investment 744 - - - 100 - - 844 Allowance for impairment (83 ) - - - (50 ) - - (133 ) Balance of impaired loans net of allowance for impairment 661 - - - 50 - - 711 Total impaired loans, excluding allowance for impairment: 8,004 127 7,711 - 2,678 1,582 - 20,102 Total loans $ 563,807 $ 1,471,573 $ 1,113,385 $ 22,963 $ 88,216 $ 79,522 $ 10,224 $ 3,349,690 Unpaid principal balance of impaired loans: Total impaired loans $ 12,678 $ 930 $ 14,049 $ 106 $ 6,506 $ 2,613 $ - $ 36,882 Impairment Status of Loans Receivable At June 30, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) Carrying value of impaired loans: Non-impaired loans $ 556,680 $ 1,412,417 $ 1,079,187 $ 3,203 $ 71,609 $ 80,928 $ 16,383 $ 3,220,407 Impaired loans: Impaired loans with no allowance for impairment 8,971 158 4,521 612 2,755 1,894 - 18,911 Impaired loans with allowance for impairment: Recorded investment 1,672 - 1,356 - 107 - - 3,135 Allowance for impairment (154 ) - (39 ) - (6 ) - - (199 ) Balance of impaired loans net of allowance for impairment 1,518 - 1,317 - 101 - - 2,936 Total impaired loans, excluding allowance for impairment: 10,643 158 5,877 612 2,862 1,894 - 22,046 Total loans $ 567,323 $ 1,412,575 $ 1,085,064 $ 3,815 $ 74,471 $ 82,822 $ 16,383 $ 3,242,453 Unpaid principal balance of impaired loans: Total impaired loans $ 16,479 $ 930 $ 10,002 $ 691 $ 6,682 $ 2,961 $ - $ 37,745 Impairment Status of Loans Receivable Three and Nine Months Ended March 31, 2018 and 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (In Thousands) For the three months ended March 31, 2018: Average balance of impaired loans $ 8,048 $ 130 $ 7,038 $ - $ 2,762 $ 1,563 $ - $ 19,541 Interest earned on impaired loans $ 33 $ - $ - $ - $ 1 $ 9 $ - $ 43 For the nine months ended March 31, 2018: Average balance of impaired loans $ 9,019 $ 141 $ 6,823 $ 137 $ 2,805 $ 1,693 $ - $ 20,618 Interest earned on impaired loans $ 99 $ - $ 4 $ - $ 4 $ 24 $ - $ 131 For the three months ended March 31, 2017: Average balance of impaired loans $ 12,933 $ 176 $ 6,066 $ 518 $ 3,134 $ 2,037 $ - $ 24,864 Interest earned on impaired loans $ 25 $ - $ - $ 3 $ 3 $ 10 $ - $ 41 For the nine months ended March 31, 2017: Average balance of impaired loans $ 13,055 $ 187 $ 6,372 $ 400 $ 3,154 $ 2,093 $ - $ 25,261 Interest earned on impaired loans $ 74 $ - $ - $ 3 $ 9 $ 34 $ - $ 120 |
Troubled Debt Restructurings of Loans Receivable | The following table presents information regarding the restructuring of the Company’s troubled debts during the nine months ended March 31, 2018 and the nine months ended March 31, 2017, and any defaults during those periods of troubled debt restructurings (“TDRs”) that were restructured within 12 months of the date of default. Troubled Debt Restructurings of Loans Receivable Nine Months Ended March 31, 2018 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (Dollars in Thousands) Troubled debt restructuring activity for the nine months ended March 31, 2018: Number of loans 5 - 2 - - 1 - 8 Pre-modification outstanding recorded investment $ 1,521 $ - $ 315 $ - $ - $ 72 $ - $ 1,908 Post-modification outstanding recorded investment 1,813 - 330 - - 71 - 2,214 Charge offs against the allowance for loan loss recognized at modification 145 - 7 - - 1 - 153 Troubled debt restructuring defaults for the nine months ended March 31, 2018: Number of loans - - - - - - - - Outstanding recorded investment $ - $ - $ - $ - $ - $ - $ - $ - Troubled Debt Restructurings of Loans Receivable Nine Months Ended March 31, 2017 Residential Mortgage Multi-Family Mortgage Non- Residential Mortgage Construction Commercial Business Home Equity Loans Other Consumer Total (Dollars in Thousands) Troubled debt restructuring activity for the nine months ended March 31, 2017: Number of loans 1 - 1 - - 2 - 4 Pre-modification outstanding recorded investment $ 197 $ - $ 244 $ - $ - $ 271 $ - $ 712 Post-modification outstanding recorded investment 186 - 223 - - 279 - 688 Charge offs against the allowance for loan loss recognized at modification 14 - 27 - - 12 - 53 Troubled debt restructuring defaults for the nine months ended March 31, 2017: Number of loans - - - - - - - - Outstanding recorded investment $ - $ - $ - $ - $ - $ - $ - $ - |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Banking And Thrift [Abstract] | |
Summary of Deposits | Deposits are summarized as follows: March 31, June 30, 2018 2017 (In Thousands) Non-interest-bearing demand $ 270,217 $ 267,412 Interest-bearing demand 871,801 847,663 Savings and club 515,807 523,984 Certificates of deposits 1,409,973 1,291,068 Total deposits $ 3,067,798 $ 2,930,127 |
Borrowings (Tables)
Borrowings (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Schedule of Fixed Rate Advances from FHLB | Fixed rate advances from the FHLB of New York mature as follows: March 31, 2018 June 30, 2017 Balance Weighted Average Interest Rate Balance Weighted Average Interest Rate (Dollars in Thousands) Maturing in years ending June 30: 2018 $ 630,225 1.99 $ 630,225 1.29 2021 388 4.94 469 4.94 2023 145,000 3.04 145,000 3.04 Total advances 775,613 2.19 % 775,694 1.62 % Unamortized fair value adjustments 12 2 Total advances, net of fair value adjustments $ 775,625 $ 775,696 |
Derivative Instruments and He34
Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Fair Values of Derivative Financial Instruments as well as Their Classification on Statement of Financial Condition | The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Statement of Financial Condition as of March 31, 2018 and June 30, 2017: March 31, 2018 Asset Derivatives Liability Derivatives Location Fair Value Location Fair Value (In Thousands) Derivatives designated as hedging instruments: Interest rate swaps Other assets $ 27,946 Other liabilities $ - Interest rate caps Other assets 118 Other liabilities - Total $ 28,064 $ - June 30, 2017 Asset Derivatives Liability Derivatives Location Fair Value Location Fair Value (In Thousands) Derivatives designated as hedging instruments: Interest rate swaps Other assets $ 7,670 Other liabilities $ 298 Interest rate caps Other assets 140 Other liabilities - Total $ 7,810 $ 298 |
Pre-tax Effects of Derivative Instruments on Consolidated Statements of Income and Comprehensive Income | The table below presents the pre-tax effects of the Company’s derivative instruments on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended March 31, 2018 and 2017: Three Months Ended March 31, 2018 Amount of Gain (Loss) Recognized in OCI on Derivatives Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (In Thousands) Derivatives in cash flow hedging relationships: Interest rate swaps $ 11,672 Interest expense $ (352 ) Interest rate caps 50 Interest expense (247 ) Total $ 11,722 $ (599 ) Nine Months Ended March 31, 2018 Amount of Gain (Loss) Recognized in OCI on Derivatives Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (In Thousands) Derivatives in cash flow hedging relationships: Interest rate swaps $ 18,099 Interest expense $ (2,475 ) Interest rate caps 77 Interest expense (806 ) Total $ 18,176 $ (3,281 ) Three Months Ended March 31, 2017 Amount of Gain (Loss) Recognized in OCI on Derivatives Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (In Thousands) Derivatives in cash flow hedging relationships: Interest rate swaps $ 1,017 Interest expense $ (1,274 ) Interest rate caps 36 Interest expense (219 ) Total $ 1,053 $ (1,493 ) Nine Months Ended March 31, 2017 Amount of Gain (Loss) Recognized in OCI on Derivatives Location of Gain (Loss) Reclassified from Accumulated OCI into Income Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (In Thousands) Derivatives in cash flow hedging relationships: Interest rate swaps $ 26,439 Interest expense $ (4,509 ) Interest rate caps 126 Interest expense (571 ) Total $ 26,565 $ (5,080 ) |
Offsetting Derivatives | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives in the Consolidated Statement of Condition as of March 31, 2018 and June 30, 2017, respectively. The net amounts presented for derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the Consolidated Statement of Condition. March 31, 2018 Gross Amounts Not Offset Gross Amount Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Received Net Amount (In Thousands) Assets: Interest rate swaps $ 28,010 $ (64 ) $ 27,946 $ - $ (28,064 ) $ (118 ) Interest rate caps 118 - 118 - - 118 Total $ 28,128 $ (64 ) $ 28,064 $ - $ (28,064 ) $ - Gross Amounts Not Offset Gross Amount Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Posted Net Amount (In Thousands) Liabilities: Interest rate swaps $ 64 $ (64 ) $ - $ - $ - $ - Interest rate caps - - - - - - Total $ 64 $ (64 ) $ - $ - $ - $ - June 30, 2017 Gross Amounts Not Offset Gross Amount Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Received Net Amount (In Thousands) Assets: Interest rate swaps $ 12,839 $ (5,169 ) $ 7,670 $ - $ (5,770 ) $ 1,900 Interest rate caps 140 - 140 - - 140 Total $ 12,979 $ (5,169 ) $ 7,810 $ - $ (5,770 ) $ 2,040 Gross Amounts Not Offset Gross Amount Recognized Gross Amounts Offset Net Amounts Presented Financial Instruments Cash Collateral Posted Net Amount (In Thousands) Liabilities: Interest rate swaps $ 5,467 $ (5,169 ) $ 298 $ - $ (298 ) $ - Interest rate caps - - - - - - Total $ 5,467 $ (5,169 ) $ 298 $ - $ (298 ) $ - |
Benefit Plans (Tables)
Benefit Plans (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Compensation And Retirement Disclosure [Abstract] | |
Schedule of Net Periodic Benefit Expense | The following table sets forth the aggregate net periodic benefit expense for the Bank’s Benefit Equalization Plan, Postretirement Welfare Plan, Directors’ Consultation and Retirement Plan and Atlas Bank Retirement Income Plan: Three Months Ended Nine Months Ended March 31, March 31, 2018 2017 2018 2017 (In Thousands) (In Thousands) Service cost $ 12 $ 8 $ 36 $ 24 Interest cost 93 95 279 285 Amortization of unrecognized past service liability - - - - Amortization of unrecognized loss 11 17 34 49 Expected return on assets (30 ) (62 ) (90 ) (186 ) Net periodic benefit cost $ 86 $ 58 $ 259 $ 172 |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Effective Income Tax Rate Reconciliation | The following table presents a reconciliation between the reported income taxes for the periods presented and the income taxes which would be computed by applying the federal income tax rates applicable to those periods. The income tax rate of 28%, applicable to the reported periods in the current year ending June 30, 2018, reflects the transitional effect of a reduction in the Company’s federal income tax rate from 35%, applicable to the prior year ended June 30, 2017, to 21%, applicable to the forthcoming year ending June 30, 2019. The noted decrease in the Company’s federal income tax rate reflects the impact of federal income tax reform that was codified through the passage of the Act on December 22, 2017. Three Months Ended Nine Months Ended March 31, March 31, 2018 2017 2018 2017 (Dollars in Thousands) (Dollars in Thousands) Income before income taxes $ 7,639 $ 5,617 $ 22,025 $ 20,912 Statutory federal tax rate 28 % 35 % 28 % 35 % Federal income tax expense at statutory rate $ 2,139 $ 1,966 $ 6,167 $ 7,319 (Reduction) increases in income taxes resulting from: Tax exempt interest (180 ) (192 ) (529 ) (586 ) State tax, net of federal tax effect 493 320 1,463 1,179 Incentive stock options compensation expense 35 44 107 79 Income from bank-owned life insurance (343 ) (447 ) (1,053 ) (1,348 ) Disqualifying disposition on incentive stock options - (165 ) (11 ) (165 ) Non-deductible merger-related expenses 94 - 294 - Other items, net 24 23 223 235 Impact of federal income tax reform - - 3,486 - Total income tax expense $ 2,262 $ 1,549 $ 10,147 $ 6,713 Effective income tax rate 29.61 % 27.58 % 46.07 % 32.10 % |
Schedule of Deferred Income Tax Assets and Liabilities | The tax effects of existing temporary differences that give rise to deferred income tax assets and liabilities are as follows: March 31, June 30, 2018 2017 (Unaudited) (In Thousands) Deferred income tax assets: Purchase accounting $ 209 $ 466 Accumulated other comprehensive income: Defined benefit plans 312 434 Unrealized loss on securities available for sale 1,212 975 Unrealized loss on securities available for sale transferred to held to maturity 274 453 Allowance for loan losses 8,503 11,963 Benefit plans 1,928 2,675 Compensation 577 1,146 Stock-based compensation 1,641 2,278 Uncollected interest 1,053 2,700 Depreciation 910 1,221 Charitable contribution carryover 1,017 2,139 Other items 521 642 18,157 27,092 Valuation allowance (135 ) (135 ) 18,022 26,957 Deferred income tax liabilities: Deferred costs 1,484 2,083 Derivatives 7,808 2,582 Goodwill 4,385 6,167 Other items 447 671 14,124 11,503 Net deferred income tax asset $ 3,898 $ 15,454 |
Fair Value of Financial Instr37
Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule of Assets and Liabilities Measured At Fair Value on a Recurring Basis | Those assets and liabilities measured at fair value on a recurring basis are summarized below: March 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Debt securities available for sale: U.S. agency securities $ - $ 4,667 $ - $ 4,667 Obligations of state and political subdivisions - 26,733 - 26,733 Asset-backed securities - 182,066 - 182,066 Collateralized loan obligations - 178,342 - 178,342 Corporate bonds - 142,202 - 142,202 Trust preferred securities - 7,485 1,000 8,485 Total debt securities - 541,495 1,000 542,495 Mortgage-backed securities available for sale: Collateralized mortgage obligations - 25,601 - 25,601 Residential pass-through securities - 108,736 - 108,736 Commercial pass-through securities - 7,939 - 7,939 Total mortgage-backed securities - 142,276 - 142,276 Total securities available for sale $ - $ 683,771 $ 1,000 $ 684,771 Derivative instruments Interest rate swaps $ - $ 27,946 $ - $ 27,946 Interest rate caps - 118 - 118 Total derivatives $ - $ 28,064 $ - $ 28,064 June 30, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Debt securities available for sale: U.S. agency securities $ - $ 5,316 $ - $ 5,316 Obligations of state and political subdivisions - 27,740 - 27,740 Asset-backed securities - 162,429 - 162,429 Collateralized loan obligations - 98,154 - 98,154 Corporate bonds - 142,318 - 142,318 Trust preferred securities - 7,540 1,000 8,540 Total debt securities - 443,497 1,000 444,497 Mortgage-backed securities available for sale: Collateralized mortgage obligations - 30,536 - 30,536 Residential pass-through securities - 130,550 - 130,550 Commercial pass-through securities - 8,177 - 8,177 Total mortgage-backed securities - 169,263 - 169,263 Total securities available for sale $ - $ 612,760 $ 1,000 $ 613,760 Derivative instruments: Interest rate swaps $ - $ 7,372 $ - $ 7,372 Interest rate caps - 140 - 140 Total derivatives $ - $ 7,512 $ - $ 7,512 |
Schedule of Assets and Liabilities Measured At Fair Value on a Non-recurring Basis | Those assets and liabilities measured at fair value on a non-recurring basis are summarized below: March 31, 2018 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Impaired loans: Residential mortgage $ - $ - $ 4,057 $ 4,057 Non-residential mortgage - - 798 798 Commercial business - - 162 162 Total $ - $ - $ 5,017 $ 5,017 June 30, 2017 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Impaired loans: Residential mortgage $ - $ - $ 5,711 $ 5,711 Non-residential mortgage - - 2,126 2,126 Commercial business - - 119 119 Total $ - $ - $ 7,956 $ 7,956 |
Schedule of Quantitative Information about Level 3 Fair Value Measurements | The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized adjusted Level 3 inputs to determine fair value: March 31, 2018 Fair Value Valuation Techniques Unobservable Input Range Weighted Average (In Thousands) Impaired loans: Residential mortgage $ 4,057 Market valuation of collateral (1) Selling costs (2) 6% - 25% 10.08 % Non-residential mortgage 798 Market valuation of collateral (1) Selling costs (2) 13% - 14% 13.34 % Commercial business 162 Market valuation of collateral (1) Selling costs (2) 12% - 20% 14.47 % Total $ 5,017 June 30, 2017 Fair Value Valuation Techniques Unobservable Input Range Weighted Average (In Thousands) Impaired loans: Residential mortgage $ 5,711 Market valuation of collateral (1) Selling costs (2) 6% - 21% 8.12 % Non-residential mortgage 2,126 Market valuation of collateral (1) Selling costs (2) 0% - 12% 6.93 % Commercial business 119 Market valuation of collateral (1) Selling costs (2) 9% - 20% 12.79 % Total $ 7,956 (1) The fair value of impaired loans is generally determined based on an independent appraisal of the market value of a loan’s underlying collateral. (2) The fair value basis of impaired loans is adjusted to reflect management estimates of selling costs including, but not necessarily limited to, real estate brokerage commissions and title transfer fees. |
Schedule of Carrying Amounts and Fair Values of Financial Instruments | The carrying amounts and fair values of financial instruments are as follows: March 31, 2018 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In Thousands) Financial assets: Cash and cash equivalents $ 38,283 $ 38,283 $ 38,283 $ - $ - Debt securities available for sale 542,495 542,495 - 541,495 1,000 Mortgage-backed securities available for sale 142,276 142,276 - 142,276 - Debt securities held to maturity 128,011 126,045 - 126,045 - Mortgage-backed securities held to maturity 331,369 325,233 - 325,233 - Loans held-for-sale 2,377 2,377 - 2,377 - Net loans receivable 3,321,121 3,254,183 - - 3,254,183 FHLB Stock 39,112 N/A N/A N/A N/A Interest receivable 13,926 13,926 - 4,197 9,729 Financial liabilities: Deposits (1) 3,067,798 3,056,111 1,657,824 - 1,398,286 Borrowings 852,009 856,046 - - 856,046 Interest payable on borrowings 1,647 1,647 - - 1,647 (1) Includes accrued interest payable on deposits of $696,000 at March 31, 2018. June 30, 2017 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In Thousands) Financial assets: Cash and cash equivalents $ 78,237 $ 78,237 $ 78,237 $ - $ - Debt securities available for sale 444,497 444,497 - 443,497 1,000 Mortgage-backed securities available for sale 169,263 169,263 - 169,263 - Debt securities held to maturity 144,713 145,505 - 145,505 - Mortgage-backed securities held to maturity 348,608 350,289 - 350,289 - Loans held-for-sale 4,692 4,692 - 4,692 - Net loans receivable 3,215,975 3,137,304 - - 3,137,304 FHLB Stock 39,958 N/A N/A N/A N/A Interest receivable 12,493 12,493 6 3,169 9,318 Financial liabilities: Deposits (1) 2,930,127 2,943,908 1,639,059 - 1,304,849 Borrowings 806,228 823,435 - - 823,435 Interest payable on borrowings 1,391 1,391 - - 1,391 (1) Includes accrued interest payable on deposits of $382,000 at June 30, 2017. |
Comprehensive Income (Tables)
Comprehensive Income (Tables) | 9 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income | The components of accumulated other comprehensive income included in stockholders’ equity at March 31, 2018 and June 30, 2017 are as follows: March 31, June 30, 2018 2017 (In Thousands) Net unrealized loss on securities available for sale $ (4,508 ) $ (2,385 ) Tax effect 1,212 975 Net of tax amount (3,296 ) (1,410 ) Net unrealized loss on securities available for sale transferred to held to maturity (974 ) (1,109 ) Tax effect 274 453 Net of tax amount (700 ) (656 ) Fair value adjustments on derivatives 27,776 6,319 Tax effect (7,808 ) (2,582 ) Net of tax amount 19,968 3,737 Benefit plan adjustments (1,110 ) (1,061 ) Tax effect 312 434 Net of tax amount (798 ) (627 ) Total accumulated other comprehensive income $ 15,174 $ 1,044 |
Schedule of Comprehensive Income | Other comprehensive income and related tax effects for the three and nine months ended March 31, 2018 and March 31, 2017 are presented in the following table: Three Months Ended Nine Months Ended March 31, March 31, 2018 2017 2018 2017 (In Thousands) (In Thousands) Net unrealized holding (loss) gain on securities available for sale $ (2,045 ) $ 4,881 $ (2,123 ) $ (1,556 ) Amortization of net unrealized holding gain (loss) on securities available for sale transferred to held to maturity (1) 32 (124 ) 135 (160 ) Net realized gain on securities available for sale - 391 - 402 Fair value adjustments on derivatives 12,323 2,546 21,457 31,645 Benefit plans: Amortization of actuarial loss (2) 12 17 34 49 Net actuarial loss - - (83 ) (394 ) Net change in benefit plan accrued expense 12 17 (49 ) (345 ) Other comprehensive income before taxes 10,322 7,711 19,420 29,986 Stranded tax effects (3) - - (1,381 ) - Tax effect (4) (2,941 ) (2,963 ) (5,290 ) (12,496 ) Total other comprehensive income $ 7,381 $ 4,748 $ 12,749 $ 17,490 (1) Represents amounts reclassified out of accumulated other comprehensive income and included in interest income on taxable securities. (2 ) Represents amounts reclassified out of accumulated other comprehensive income and included in the computation of net periodic pension expense. See Note 15 – Benefit Plans for additional information. (3) Represents amounts reclassified from accumulated other comprehensive income that did not reflect the appropriate tax rate. (4 ) The amounts included in income taxes for items reclassified out of accumulated other comprehensive income totaled $3 and $122 for the three and nine months ended March 31, 2018, respectively, and $167 and $23 for the three and nine months ended March 31, 2017, respectively. |
Net Income Per Common Share (EP
Net Income Per Common Share (EPS) - Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share Computations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings Per Share [Abstract] | ||||
Income (Numerator): Net income | $ 5,377 | $ 4,068 | $ 11,878 | $ 14,199 |
Income (Numerator): Basic earnings per share, income available to common stockholders | 5,377 | 4,068 | 11,878 | 14,199 |
Income (Numerator): Diluted earnings per share | $ 5,377 | $ 4,068 | $ 11,878 | $ 14,199 |
Shares (Denominator): Basic earnings per share, income available to common stockholders | 75,492 | 84,542 | 77,452 | 85,326 |
Shares (Denominator): Stock options | 47 | 82 | 58 | 76 |
Shares (Denominator): Diluted earnings per share | 75,539 | 84,624 | 77,510 | 85,402 |
Per Share Amount: Basic earnings per share, income available to common stockholders | $ 0.07 | $ 0.05 | $ 0.15 | $ 0.17 |
Per Share Amount: Diluted earnings per share | $ 0.07 | $ 0.05 | $ 0.15 | $ 0.17 |
Net Income Per Common Share (40
Net Income Per Common Share (EPS) - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Stock Options [Member] | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Average number of options anti-dilutive | 3,290,000 | 3,290,000 | 3,290,000 | 1,452,883 |
Acquisition of Clifton Bancor41
Acquisition of Clifton Bancorp Inc - Additional Information (Detail) $ in Thousands | Apr. 02, 2018USD ($)Branchshares | Mar. 31, 2018USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2017USD ($) | Jun. 30, 2016USD ($) |
Business Acquisition [Line Items] | |||||
Stockholders’ equity | $ 991,201 | $ 1,057,181 | $ 1,094,010 | $ 1,147,629 | |
Clifton Bancorp Inc. [Member] | Subsequent Event [Member] | |||||
Business Acquisition [Line Items] | |||||
Closing date | Apr. 2, 2018 | ||||
Total assets | $ 1,700,000 | ||||
Net loans receivable | 1,200,000 | ||||
Securities | 357,900 | ||||
Total liabilities | 1,400,000 | ||||
Deposits | 945,000 | ||||
Borrowings | $ 421,400 | ||||
Number of branches in which deposits held | Branch | 12 | ||||
Stockholders’ equity | $ 272,000 | ||||
Outstanding shares of Clifton common stock exchanged for shares of Company common stock | shares | 1.191 | ||||
Issuance of shares of common stock to CSBK stockholders in conjunction with merger | shares | 25,400,000 |
Recent Accounting Pronounceme42
Recent Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||||
Corporate income tax rate | 28.00% | 35.00% | 35.00% | 28.00% | 35.00% | 35.00% | ||
Scenario, Forecast [Member] | ||||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||||
Corporate income tax rate | 21.00% | 28.00% | ||||||
Accounting Standards Update 2018-02 [Member] | ||||||||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||||||||
Reclassification from accumulated other comprehensive income to retained earnings | $ 1.4 |
Securities Available for Sale -
Securities Available for Sale - Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | $ 542,799 | |
Securities available for sale, Fair value | 542,495 | $ 444,497 |
Securities available for sale, Amortized Cost | 689,279 | 616,145 |
Mortgage-backed securities, Gross Unrealized Gains | 2,745 | 2,551 |
Mortgage-backed securities, Gross Unrealized Losses | 7,253 | 4,936 |
Securities available for sale, Fair value | 684,771 | 613,760 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 146,480 | 170,249 |
Mortgage-backed securities, Gross Unrealized Gains | 154 | 884 |
Mortgage-backed securities, Gross Unrealized Losses | 4,358 | 1,870 |
Securities available for sale, Fair value | 142,276 | 169,263 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 542,799 | 445,896 |
Securities available for sale, Gross Unrealized Gains | 2,591 | 1,667 |
Securities available for sale, Gross Unrealized Losses | 2,895 | 3,066 |
Securities available for sale, Fair value | 542,495 | 444,497 |
Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 4,717 | 5,304 |
Securities available for sale, Gross Unrealized Gains | 35 | |
Securities available for sale, Gross Unrealized Losses | 50 | 23 |
Securities available for sale, Fair value | 4,667 | 5,316 |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 27,446 | 27,465 |
Securities available for sale, Gross Unrealized Gains | 6 | 305 |
Securities available for sale, Gross Unrealized Losses | 719 | 30 |
Securities available for sale, Fair value | 26,733 | 27,740 |
Debt Securities [Member] | Asset-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 180,180 | 163,120 |
Securities available for sale, Gross Unrealized Gains | 2,211 | 316 |
Securities available for sale, Gross Unrealized Losses | 325 | 1,007 |
Securities available for sale, Fair value | 182,066 | 162,429 |
Debt Securities [Member] | Collateralized Loan Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 178,529 | 98,078 |
Securities available for sale, Gross Unrealized Gains | 232 | 185 |
Securities available for sale, Gross Unrealized Losses | 419 | 109 |
Securities available for sale, Fair value | 178,342 | 98,154 |
Debt Securities [Member] | Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 143,009 | 143,017 |
Securities available for sale, Gross Unrealized Gains | 142 | 826 |
Securities available for sale, Gross Unrealized Losses | 949 | 1,525 |
Securities available for sale, Fair value | 142,202 | 142,318 |
Debt Securities [Member] | Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 8,918 | 8,912 |
Securities available for sale, Gross Unrealized Losses | 433 | 372 |
Securities available for sale, Fair value | 8,485 | 8,540 |
Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 26,808 | 31,124 |
Mortgage-backed securities, Gross Unrealized Gains | 38 | |
Mortgage-backed securities, Gross Unrealized Losses | 1,207 | 626 |
Securities available for sale, Fair value | 25,601 | 30,536 |
Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | Federal Home Loan Mortgage Corporation [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 8,501 | 9,902 |
Mortgage-backed securities, Gross Unrealized Gains | 38 | |
Mortgage-backed securities, Gross Unrealized Losses | 290 | 66 |
Securities available for sale, Fair value | 8,211 | 9,874 |
Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | Federal National Mortgage Association [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 18,307 | 21,222 |
Mortgage-backed securities, Gross Unrealized Losses | 917 | 560 |
Securities available for sale, Fair value | 17,390 | 20,662 |
Residential Pass-Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 111,685 | 131,017 |
Mortgage-backed securities, Gross Unrealized Gains | 154 | 777 |
Mortgage-backed securities, Gross Unrealized Losses | 3,103 | 1,244 |
Securities available for sale, Fair value | 108,736 | 130,550 |
Residential Pass-Through Securities [Member] | Federal Home Loan Mortgage Corporation [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 82,595 | 95,501 |
Mortgage-backed securities, Gross Unrealized Gains | 57 | 352 |
Mortgage-backed securities, Gross Unrealized Losses | 2,501 | 999 |
Securities available for sale, Fair value | 80,151 | 94,854 |
Residential Pass-Through Securities [Member] | Federal National Mortgage Association [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 29,090 | 35,516 |
Mortgage-backed securities, Gross Unrealized Gains | 97 | 425 |
Mortgage-backed securities, Gross Unrealized Losses | 602 | 245 |
Securities available for sale, Fair value | 28,585 | 35,696 |
Commercial Pass-Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 7,987 | 8,108 |
Mortgage-backed securities, Gross Unrealized Gains | 69 | |
Mortgage-backed securities, Gross Unrealized Losses | 48 | |
Securities available for sale, Fair value | 7,939 | 8,177 |
Commercial Pass-Through Securities [Member] | Federal National Mortgage Association [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 7,987 | 8,108 |
Mortgage-backed securities, Gross Unrealized Gains | 69 | |
Mortgage-backed securities, Gross Unrealized Losses | 48 | |
Securities available for sale, Fair value | $ 7,939 | $ 8,177 |
Securities Available for Sale44
Securities Available for Sale - Stratification by Contractual Maturity of Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Investments Debt And Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $ 3 | |
Due after one year through five years, Amortized Cost | 95,025 | |
Due after five years through ten years, Amortized Cost | 106,303 | |
Due after ten years, Amortized Cost | 341,468 | |
Securities available for sale, Amortized Cost | 542,799 | |
Due in one year or less, Fair Value | 3 | |
Due after one year through five years, Fair Value | 94,876 | |
Due after five years through ten years, Fair Value | 104,720 | |
Due after ten years, Fair Value | 342,896 | |
Fair Value | $ 542,495 | $ 444,497 |
Securities Available for Sale45
Securities Available for Sale - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2018 | Mar. 31, 2017 | Jun. 30, 2017 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Proceeds from sales of debt securities available for sale | $ 0 | $ 0 | $ 83,000,000 | |
Available-for-sale securities, gross realized gains | 1,300,000 | |||
Available-for-sale securities, gross realized losses | $ 1,700,000 | |||
Securities Available for Sale [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale pledged as collateral for borrowings Federal Home Loan Bank | 45,300,000 | 45,300,000 | $ 41,800,000 | |
Securities Available for Sale [Member] | Federal Reserve Bank of New York [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Securities available for sale utilized as collateral for potential borrowings | 43,500,000 | 43,500,000 | 41,500,000 | |
Securities Available for Sale [Member] | Federal Reserve Bank of New York [Member] | Depositor Sweep Accounts [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available for sale securities utilized as collateral | $ 13,500,000 | $ 13,500,000 | $ 8,200,000 |
Securities Held to Maturity - A
Securities Held to Maturity - Amortized Cost, Gross Unrecognized Gains and Losses and Fair Values of Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 128,011 | $ 144,713 |
Securities held to maturity | 459,380 | 493,321 |
Gross Unrecognized Gains | 96 | 4,057 |
Gross Unrecognized Losses | 8,198 | 1,584 |
Fair Value | 126,045 | 145,505 |
Fair Value | 451,278 | 495,794 |
Mortgage-Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 331,369 | 348,608 |
Gross Unrecognized Gains | 30 | 3,061 |
Gross Unrecognized Losses | 6,166 | 1,380 |
Fair Value | 325,233 | 350,289 |
Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 128,011 | 144,713 |
Gross Unrecognized Gains | 66 | 996 |
Gross Unrecognized Losses | 2,032 | 204 |
Fair Value | 126,045 | 145,505 |
Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 35,000 | |
Gross Unrecognized Losses | 48 | |
Fair Value | 34,952 | |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 98,011 | 94,713 |
Gross Unrecognized Gains | 44 | 996 |
Gross Unrecognized Losses | 1,849 | 156 |
Fair Value | 96,206 | 95,553 |
Debt Securities [Member] | Subordinated Debt [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 30,000 | 15,000 |
Gross Unrecognized Gains | 22 | |
Gross Unrecognized Losses | 183 | |
Fair Value | 29,839 | 15,000 |
Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 34,309 | 17,854 |
Gross Unrecognized Gains | 7 | 10 |
Gross Unrecognized Losses | 1,012 | 403 |
Fair Value | 33,304 | 17,461 |
Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | Government National Mortgage Association [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 21,680 | 2,199 |
Gross Unrecognized Losses | 516 | 46 |
Fair Value | 21,164 | 2,153 |
Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | Federal Home Loan Mortgage Corporation [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 12,516 | 15,522 |
Gross Unrecognized Losses | 496 | 357 |
Fair Value | 12,020 | 15,165 |
Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | Federal National Mortgage Association [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 95 | 111 |
Gross Unrecognized Gains | 7 | 10 |
Fair Value | 102 | 121 |
Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | Non-Agency Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 18 | 22 |
Fair Value | 18 | 22 |
Residential Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 151,605 | 178,813 |
Gross Unrecognized Gains | 23 | 429 |
Gross Unrecognized Losses | 3,161 | 935 |
Fair Value | 148,467 | 178,307 |
Residential Pass-Through Securities [Member] | Federal Home Loan Mortgage Corporation [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 29,196 | 35,289 |
Gross Unrecognized Gains | 1 | 1 |
Gross Unrecognized Losses | 848 | 338 |
Fair Value | 28,349 | 34,952 |
Residential Pass-Through Securities [Member] | Federal National Mortgage Association [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 122,409 | 143,524 |
Gross Unrecognized Gains | 22 | 428 |
Gross Unrecognized Losses | 2,313 | 597 |
Fair Value | 120,118 | 143,355 |
Commercial Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 145,455 | 151,941 |
Gross Unrecognized Gains | 2,622 | |
Gross Unrecognized Losses | 1,993 | 42 |
Fair Value | 143,462 | 154,521 |
Commercial Pass-Through Securities [Member] | Government National Mortgage Association [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 1,244 | 1,989 |
Gross Unrecognized Losses | 5 | 11 |
Fair Value | 1,239 | 1,978 |
Commercial Pass-Through Securities [Member] | Commercial Pass-Through Securities: Federal National Mortgage Association [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 144,211 | 149,952 |
Gross Unrecognized Gains | 2,622 | |
Gross Unrecognized Losses | 1,988 | 31 |
Fair Value | $ 142,223 | $ 152,543 |
Securities Held to Maturity - S
Securities Held to Maturity - Stratification by Contractual Maturity of Securities (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 128,011 | $ 144,713 |
Held-to-maturity Securities, Fair Value Total | 126,045 | 145,505 |
Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due in one year or less, Amortized Cost | 3,366 | |
Due after one year through five years, Amortized Cost | 29,039 | |
Due after five years through ten years, Amortized Cost | 82,816 | |
Due after ten years, Amortized Cost | 12,790 | |
Amortized Cost | 128,011 | 144,713 |
Due in one year or less, Fair Value | 3,359 | |
Due after one year through five years, Fair Value | 28,697 | |
Due after five years through ten years, Fair Value | 81,344 | |
Due after ten years, Fair Value | 12,645 | |
Held-to-maturity Securities, Fair Value Total | $ 126,045 | $ 145,505 |
Securities Held to Maturity -48
Securities Held to Maturity - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Jun. 30, 2017 | |
Schedule of Held-to-maturity Securities [Line Items] | |||||
Proceeds from sales of securities held to maturity | $ 0 | $ 0 | $ 0 | $ 0 | |
Securities Held to Maturity [Member] | Public Funds [Member] | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Held to maturity securities pledged to secure public funds on deposit | 6,500,000 | 6,500,000 | $ 6,900,000 | ||
Securities Held to Maturity [Member] | Depositor Sweep Accounts [Member] | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Held to maturity securities utilized as collateral for accounts | 26,900,000 | 26,900,000 | 32,700,000 | ||
Securities Held to Maturity [Member] | FHLB of New York [Member] | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Held to maturity securities pledged as collateral | 118,400,000 | 118,400,000 | 117,500,000 | ||
Securities Held to Maturity [Member] | Federal Reserve Bank of New York [Member] | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Held to maturity securities pledged as collateral | $ 96,000,000 | $ 96,000,000 | $ 88,800,000 |
Impairment of Securities - Sche
Impairment of Securities - Schedule of Fair Values and Gross Unrealized Losses on Investments (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | $ 252,449 | $ 170,579 |
Less than 12 Months: Unrealized Losses | 3,034 | 2,092 |
12 Months or More: Fair Value | 152,308 | 175,761 |
12 Months or More: Unrealized Losses | 4,219 | 2,844 |
Total: Fair Value | 404,757 | 346,340 |
Total: Unrealized Losses | 7,253 | 4,936 |
Debt Securities [Member] | Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or More: Fair Value | 7,485 | 7,540 |
12 Months or More: Unrealized Losses | 433 | 372 |
Total: Fair Value | 7,485 | 7,540 |
Total: Unrealized Losses | 433 | 372 |
Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 3,090 | 440 |
Less than 12 Months: Unrealized Losses | 31 | |
12 Months or More: Fair Value | 1,577 | 1,746 |
12 Months or More: Unrealized Losses | 19 | 23 |
Total: Fair Value | 4,667 | 2,186 |
Total: Unrealized Losses | 50 | 23 |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 25,089 | 3,872 |
Less than 12 Months: Unrealized Losses | 692 | 30 |
12 Months or More: Fair Value | 550 | |
12 Months or More: Unrealized Losses | 27 | |
Total: Fair Value | 25,639 | 3,872 |
Total: Unrealized Losses | 719 | 30 |
Debt Securities [Member] | Asset-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 10,905 | 16,860 |
Less than 12 Months: Unrealized Losses | 11 | 84 |
12 Months or More: Fair Value | 29,920 | 86,975 |
12 Months or More: Unrealized Losses | 314 | 923 |
Total: Fair Value | 40,825 | 103,835 |
Total: Unrealized Losses | 325 | 1,007 |
Debt Securities [Member] | Collateralized Loan Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 108,643 | 46,016 |
Less than 12 Months: Unrealized Losses | 419 | 108 |
12 Months or More: Fair Value | 6,000 | |
12 Months or More: Unrealized Losses | 1 | |
Total: Fair Value | 108,643 | 52,016 |
Total: Unrealized Losses | 419 | 109 |
Debt Securities [Member] | Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 27,934 | |
Less than 12 Months: Unrealized Losses | 59 | |
12 Months or More: Fair Value | 64,083 | 73,500 |
12 Months or More: Unrealized Losses | 890 | 1,525 |
Total: Fair Value | 92,017 | 73,500 |
Total: Unrealized Losses | 949 | 1,525 |
Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 4,913 | 26,090 |
Less than 12 Months: Unrealized Losses | 105 | 626 |
12 Months or More: Fair Value | 20,688 | |
12 Months or More: Unrealized Losses | 1,102 | |
Total: Fair Value | 25,601 | 26,090 |
Total: Unrealized Losses | 1,207 | 626 |
Residential Pass-Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 63,936 | 77,301 |
Less than 12 Months: Unrealized Losses | 1,669 | 1,244 |
12 Months or More: Fair Value | 28,005 | |
12 Months or More: Unrealized Losses | 1,434 | |
Total: Fair Value | 91,941 | 77,301 |
Total: Unrealized Losses | 3,103 | $ 1,244 |
Commercial Pass-Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 7,939 | |
Less than 12 Months: Unrealized Losses | 48 | |
Total: Fair Value | 7,939 | |
Total: Unrealized Losses | $ 48 |
Impairment of Securities - Addi
Impairment of Securities - Additional Information (Detail) | Mar. 31, 2018USD ($)Security | Jun. 30, 2017USD ($)Security |
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 134 | 57 |
Held-to-maturity, securities in unrecognized loss positions, qualitative disclosure, number of positions | 319 | 90 |
Credit-related OTTI securities | $ | $ 0 | $ 0 |
Collateralized Loan Obligations [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 12 | 8 |
Debt Securities [Member] | Trust Preferred Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 4 | 4 |
Debt Securities [Member] | Asset-backed Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 5 | 9 |
Debt Securities [Member] | Corporate Bonds [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 11 | 7 |
Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 9 | 7 |
Held-to-maturity, securities in unrecognized loss positions, qualitative disclosure, number of positions | 2 | |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 67 | 9 |
Held-to-maturity, securities in unrecognized loss positions, qualitative disclosure, number of positions | 186 | 44 |
Debt Securities [Member] | Subordinated Debt [Member] | ||
Schedule Of Investments [Line Items] | ||
Held-to-maturity, securities in unrecognized loss positions, qualitative disclosure, number of positions | 2 | |
Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 7 | 5 |
Held-to-maturity, securities in unrecognized loss positions, qualitative disclosure, number of positions | 7 | 7 |
Residential Pass-Through Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 17 | 8 |
Held-to-maturity, securities in unrecognized loss positions, qualitative disclosure, number of positions | 92 | 34 |
Commercial Pass-Through Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 2 | |
Held-to-maturity, securities in unrecognized loss positions, qualitative disclosure, number of positions | 32 | 3 |
Impairment of Securities - Sc51
Impairment of Securities - Schedule of Temporary Impairment Losses, Investments (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 Months: Fair Value | $ 346,842 | $ 192,166 |
Less than 12 Months: Unrecognized Losses | 5,688 | 1,513 |
12 Months or More: Fair Value | 85,487 | 12,164 |
12 Months or More: Unrecognized Losses | 2,510 | 71 |
Total: Fair Value | 432,329 | 204,330 |
Total: Unrecognized Losses | 8,198 | 1,584 |
Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Total: Unrecognized Losses | 2,032 | 204 |
Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 Months: Fair Value | 24,969 | |
Less than 12 Months: Unrecognized Losses | 31 | |
12 Months or More: Fair Value | 9,983 | |
12 Months or More: Unrecognized Losses | 17 | |
Total: Fair Value | 34,952 | |
Total: Unrecognized Losses | 48 | |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 Months: Fair Value | 84,494 | 19,232 |
Less than 12 Months: Unrecognized Losses | 1,653 | 150 |
12 Months or More: Fair Value | 4,020 | 409 |
12 Months or More: Unrecognized Losses | 196 | 6 |
Total: Fair Value | 88,514 | 19,641 |
Total: Unrecognized Losses | 1,849 | 156 |
Debt Securities [Member] | Subordinated Debt [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 Months: Fair Value | 19,817 | |
Less than 12 Months: Unrecognized Losses | 183 | |
Total: Fair Value | 19,817 | |
Total: Unrecognized Losses | 183 | |
Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 Months: Fair Value | 19,406 | 17,317 |
Less than 12 Months: Unrecognized Losses | 431 | 403 |
12 Months or More: Fair Value | 13,778 | 22 |
12 Months or More: Unrecognized Losses | 581 | |
Total: Fair Value | 33,184 | 17,339 |
Total: Unrecognized Losses | 1,012 | 403 |
Residential Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 Months: Fair Value | 80,903 | 119,538 |
Less than 12 Months: Unrecognized Losses | 1,433 | 887 |
12 Months or More: Fair Value | 66,449 | 1,750 |
12 Months or More: Unrecognized Losses | 1,728 | 48 |
Total: Fair Value | 147,352 | 121,288 |
Total: Unrecognized Losses | 3,161 | 935 |
Commercial Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 Months: Fair Value | 142,222 | 11,110 |
Less than 12 Months: Unrecognized Losses | 1,988 | 42 |
12 Months or More: Fair Value | 1,240 | |
12 Months or More: Unrecognized Losses | 5 | |
Total: Fair Value | 143,462 | 11,110 |
Total: Unrecognized Losses | $ 1,993 | $ 42 |
Loan Quality and Allowance fo52
Loan Quality and Allowance for Loan Losses - Additional Information (Detail) | Mar. 31, 2018USD ($)PropertyLoan | Jun. 30, 2017USD ($)PropertyLoan |
Financing Receivable, Recorded Investment [Line Items] | ||
Unpaid principal balance of impaired loans | $ 36,882,000 | $ 37,745,000 |
Financing receivable, allowance for credit losses, individually evaluated for impairment | 133,000 | 199,000 |
Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Unpaid principal balance of impaired loans | 12,678,000 | 16,479,000 |
Financing receivable, allowance for credit losses, individually evaluated for impairment | $ 83,000 | $ 154,000 |
Number of loans in process of foreclosure | Loan | 10 | 18 |
Mortgage loans in process of foreclosure, carrying value | $ 1,900,000 | $ 3,700,000 |
Residential Mortgage [Member] | Single-family Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Aggregate carrying value of real estate | $ 1,100,000 | $ 981,000 |
Residential Mortgage [Member] | Real Estate Acquired in Satisfaction of Debt [Member] | Single-family Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Number of properties held | Property | 3 | 2 |
Loans Acquired at Fair Value [Member] | Uncertain Cash Flow [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, recorded investment, nonaccrual status | $ 355,000 | $ 371,000 |
Financing receivable, allowance for credit losses, individually evaluated for impairment | 0 | 0 |
Receivables Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans acquired with deteriorated credit quality | 378,000 | 594,000 |
Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans acquired with deteriorated credit quality | 103,000 | 97,000 |
Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, recorded investment, nonaccrual status | 14,190,000 | 18,798,000 |
Nonperforming Financing Receivable [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, recorded investment, nonaccrual status | 5,155,000 | 8,790,000 |
Nonperforming Financing Receivable [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Unpaid principal balance of impaired loans | 378,000 | 594,000 |
Nonperforming Financing Receivable [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans acquired with deteriorated credit quality | $ 589,000 | $ 839,000 |
Loan Quality and Allowance fo53
Loan Quality and Allowance for Loan Losses - Impaired Loans Acquired Accretable Yield Change (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Receivables [Abstract] | ||||
Beginning balance | $ 206 | $ 312 | $ 215 | $ 335 |
Accretion to interest income | 0 | (97) | (9) | (101) |
Disposals | (19) | |||
Ending balance | $ 206 | $ 215 | $ 206 | $ 215 |
Loan Quality and Allowance fo54
Loan Quality and Allowance for Loan Losses - Allowance for Loan Losses and Loans Receivable (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Jun. 30, 2017 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance | $ 30,066 | $ 26,060 | $ 29,286 | $ 24,229 | |
Allowance, Loans individually evaluated for impairment | 133 | 133 | $ 199 | ||
Allowance, Loans collectively evaluated for impairment | 30,115 | 30,115 | 29,087 | ||
Allowance | 30,248 | 27,614 | 30,248 | 27,614 | |
Loans individually evaluated for impairment | 19,724 | 19,724 | 21,452 | ||
Loans collectively evaluated for impairment | 3,329,588 | 3,329,588 | 3,220,407 | ||
Loans and Leases Receivable, Gross | 3,349,690 | 3,349,690 | 3,242,453 | ||
Loans receivable, unamortized yield adjustments | 1,679 | 1,679 | 2,808 | ||
Loans receivable | 3,351,369 | 3,351,369 | 3,245,261 | ||
Total charge offs | (325) | (318) | (1,339) | (1,084) | |
Total recoveries | 84 | 63 | 312 | 276 | |
Total provision (reversal) for Loan Losses | 423 | 1,809 | 1,989 | 4,193 | |
Residential Mortgage [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance | 2,440 | 2,430 | 2,384 | 2,370 | |
Allowance, Loans individually evaluated for impairment | 83 | 83 | 154 | ||
Allowance, Loans collectively evaluated for impairment | 2,371 | 2,371 | 2,230 | ||
Allowance | 2,454 | 2,365 | 2,454 | 2,365 | |
Loans individually evaluated for impairment | 7,901 | 7,901 | 10,546 | ||
Loans collectively evaluated for impairment | 555,803 | 555,803 | 556,680 | ||
Loans and Leases Receivable, Gross | 563,807 | 563,807 | 567,323 | ||
Total charge offs | (61) | (5) | (471) | (69) | |
Total recoveries | 21 | 77 | 202 | ||
Total provision (reversal) for Loan Losses | 75 | (81) | 464 | (138) | |
Non-Residential Mortgage [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance | 9,665 | 8,355 | 9,939 | 7,846 | |
Allowance, Loans individually evaluated for impairment | 39 | ||||
Allowance, Loans collectively evaluated for impairment | 9,885 | 9,885 | 9,900 | ||
Allowance | 9,885 | 8,867 | 9,885 | 8,867 | |
Loans individually evaluated for impairment | 7,711 | 7,711 | 5,877 | ||
Loans collectively evaluated for impairment | 1,105,674 | 1,105,674 | 1,079,187 | ||
Loans and Leases Receivable, Gross | 1,113,385 | 1,113,385 | 1,085,064 | ||
Total charge offs | (7) | (45) | (78) | ||
Total provision (reversal) for Loan Losses | 227 | 512 | (9) | 1,099 | |
Construction [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance | 246 | 29 | 35 | 24 | |
Allowance, Loans collectively evaluated for impairment | 253 | 253 | 35 | ||
Allowance | 253 | 9 | 253 | 9 | |
Loans individually evaluated for impairment | 612 | ||||
Loans collectively evaluated for impairment | 22,963 | 22,963 | 3,203 | ||
Loans and Leases Receivable, Gross | 22,963 | 22,963 | 3,815 | ||
Total provision (reversal) for Loan Losses | 7 | (20) | 218 | (15) | |
Commercial Business [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance | 2,706 | 1,779 | 1,709 | 2,784 | |
Allowance, Loans individually evaluated for impairment | 50 | 50 | 6 | ||
Allowance, Loans collectively evaluated for impairment | 2,636 | 2,636 | 1,703 | ||
Allowance | 2,686 | 1,740 | 2,686 | 1,740 | |
Loans individually evaluated for impairment | 2,403 | 2,403 | 2,365 | ||
Loans collectively evaluated for impairment | 85,538 | 85,538 | 71,609 | ||
Loans and Leases Receivable, Gross | 88,216 | 88,216 | 74,471 | ||
Total charge offs | (89) | (28) | (95) | (221) | |
Total recoveries | 55 | 1 | 89 | 17 | |
Total provision (reversal) for Loan Losses | 14 | (12) | 983 | (840) | |
Other Consumer [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance | 643 | 685 | 777 | 778 | |
Allowance, Loans collectively evaluated for impairment | 527 | 527 | 777 | ||
Allowance | 527 | 814 | 527 | 814 | |
Loans collectively evaluated for impairment | 10,224 | 10,224 | 16,383 | ||
Loans and Leases Receivable, Gross | 10,224 | 10,224 | 16,383 | ||
Total charge offs | (167) | (285) | (727) | (621) | |
Total recoveries | 29 | 26 | 81 | 41 | |
Total provision (reversal) for Loan Losses | 22 | 388 | 396 | 616 | |
Multi-Family Mortgage [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance | 13,909 | 12,226 | 13,941 | 9,995 | |
Allowance, Loans collectively evaluated for impairment | 14,010 | 14,010 | 13,941 | ||
Allowance | 14,010 | 13,286 | 14,010 | 13,286 | |
Loans individually evaluated for impairment | 127 | 127 | 158 | ||
Loans collectively evaluated for impairment | 1,471,446 | 1,471,446 | 1,412,417 | ||
Loans and Leases Receivable, Gross | 1,471,573 | 1,471,573 | 1,412,575 | ||
Total provision (reversal) for Loan Losses | 101 | 1,060 | 69 | 3,291 | |
Home Equity Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance | 457 | 556 | 501 | 432 | |
Allowance, Loans collectively evaluated for impairment | 433 | 433 | 501 | ||
Allowance | 433 | 533 | 433 | 533 | |
Loans individually evaluated for impairment | 1,582 | 1,582 | 1,894 | ||
Loans collectively evaluated for impairment | 77,940 | 77,940 | 80,928 | ||
Loans and Leases Receivable, Gross | 79,522 | 79,522 | 82,822 | ||
Total charge offs | (1) | (1) | (95) | ||
Total recoveries | 15 | 65 | 16 | ||
Total provision (reversal) for Loan Losses | (23) | $ (38) | (132) | $ 180 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans acquired with deteriorated credit quality | 378 | 378 | 594 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | Residential Mortgage [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans acquired with deteriorated credit quality | 103 | 103 | 97 | ||
Receivables Acquired with Deteriorated Credit Quality [Member] | Commercial Business [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans acquired with deteriorated credit quality | $ 275 | $ 275 | $ 497 |
Loan Quality and Allowance fo55
Loan Quality and Allowance for Loan Losses - Credit-Rating Classification of Loans Receivable (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | $ 3,349,690 | $ 3,242,453 |
Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 563,807 | 567,323 |
Non-Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,113,385 | 1,085,064 |
Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 22,963 | 3,815 |
Commercial Business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 88,216 | 74,471 |
Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 10,224 | 16,383 |
Multi-Family Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,471,573 | 1,412,575 |
Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 3,323,072 | 3,210,428 |
Non-Classified [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 554,182 | 552,961 |
Non-Classified [Member] | Non-Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,105,097 | 1,078,711 |
Non-Classified [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 22,716 | 2,894 |
Non-Classified [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 81,916 | 66,886 |
Non-Classified [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 10,125 | 16,166 |
Non-Classified [Member] | Multi-Family Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,471,446 | 1,412,417 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 836 | 2,594 |
Special Mention [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 498 | 928 |
Special Mention [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 247 | 309 |
Special Mention [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 13 | 1,098 |
Special Mention [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 50 | 139 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 25,780 | 29,428 |
Substandard [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 9,127 | 13,434 |
Substandard [Member] | Non-Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 8,288 | 6,353 |
Substandard [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 612 | |
Substandard [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 6,287 | 6,487 |
Substandard [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 47 | 75 |
Substandard [Member] | Multi-Family Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 127 | 158 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 2 | 3 |
Doubtful [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 2 | 3 |
Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 26,618 | 32,025 |
Total Classified Loans [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 9,625 | 14,362 |
Total Classified Loans [Member] | Non-Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 8,288 | 6,353 |
Total Classified Loans [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 247 | 921 |
Total Classified Loans [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 6,300 | 7,585 |
Total Classified Loans [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 99 | 217 |
Total Classified Loans [Member] | Multi-Family Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 127 | 158 |
Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 79,522 | 82,822 |
Home Equity Loans [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 77,590 | 80,393 |
Home Equity Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 28 | 120 |
Home Equity Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,904 | 2,309 |
Home Equity Loans [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | $ 1,932 | $ 2,429 |
Loan Quality and Allowance fo56
Loan Quality and Allowance for Loan Losses - Contractual Payment Status of Loans Receivable (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $ 3,342,982 | $ 3,230,780 |
Total past due | 6,708 | 11,673 |
Loans and Leases Receivable, Gross | 3,349,690 | 3,242,453 |
Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 561,018 | 560,054 |
Total past due | 2,789 | 7,269 |
Loans and Leases Receivable, Gross | 563,807 | 567,323 |
Non-Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 1,111,850 | 1,083,736 |
Total past due | 1,535 | 1,328 |
Loans and Leases Receivable, Gross | 1,113,385 | 1,085,064 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 22,963 | 3,560 |
Total past due | 255 | |
Loans and Leases Receivable, Gross | 22,963 | 3,815 |
Commercial Business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 86,284 | 72,826 |
Total past due | 1,932 | 1,645 |
Loans and Leases Receivable, Gross | 88,216 | 74,471 |
Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 10,093 | 16,083 |
Total past due | 131 | 300 |
Loans and Leases Receivable, Gross | 10,224 | 16,383 |
Multi-Family Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 1,471,573 | 1,412,575 |
Loans and Leases Receivable, Gross | 1,471,573 | 1,412,575 |
Past due: 30-59 days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,811 | 2,371 |
Past due: 30-59 days [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 977 | 1,749 |
Past due: 30-59 days [Member] | Non-Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 679 | 60 |
Past due: 30-59 days [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 255 | |
Past due: 30-59 days [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 57 | 29 |
Past due: 30-59 days [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 38 | 91 |
Past due: 60-89 days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 172 | 997 |
Past due: 60-89 days [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 24 | 403 |
Past due: 60-89 days [Member] | Non-Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 318 | |
Past due: 60-89 days [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 100 | |
Past due: 60-89 days [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 48 | 135 |
Past due: 90+ days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 4,725 | 8,305 |
Past due: 90+ days [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,788 | 5,117 |
Past due: 90+ days [Member] | Non-Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 856 | 950 |
Past due: 90+ days [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,775 | 1,616 |
Past due: 90+ days [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 45 | 74 |
Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 79,201 | 81,946 |
Total past due | 321 | 876 |
Loans and Leases Receivable, Gross | 79,522 | 82,822 |
Home Equity Loans [Member] | Past due: 30-59 days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 60 | 187 |
Home Equity Loans [Member] | Past due: 60-89 days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 141 | |
Home Equity Loans [Member] | Past due: 90+ days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 261 | $ 548 |
Loan Quality and Allowance fo57
Loan Quality and Allowance for Loan Losses - Performance Status of Loans Receivable (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | $ 3,349,690 | $ 3,242,453 |
Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 563,807 | 567,323 |
Non-Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 1,113,385 | 1,085,064 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 22,963 | 3,815 |
Commercial Business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 88,216 | 74,471 |
Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 10,224 | 16,383 |
Multi-Family Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 1,471,573 | 1,412,575 |
Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 79,522 | 82,822 |
Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 3,335,455 | 3,223,581 |
Performing Financing Receivable [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 558,652 | 558,533 |
Performing Financing Receivable [Member] | Non-Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 1,108,013 | 1,079,344 |
Performing Financing Receivable [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 22,963 | 3,560 |
Performing Financing Receivable [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 85,562 | 71,837 |
Performing Financing Receivable [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 10,179 | 16,309 |
Performing Financing Receivable [Member] | Multi-Family Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 1,471,446 | 1,412,417 |
Performing Financing Receivable [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 78,640 | 81,581 |
Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90+ days past due accruing | 45 | 74 |
Nonaccrual | 14,190 | 18,798 |
Total nonperforming | 14,235 | 18,872 |
Nonperforming Financing Receivable [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 5,155 | 8,790 |
Total nonperforming | 5,155 | 8,790 |
Nonperforming Financing Receivable [Member] | Non-Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 5,372 | 5,720 |
Total nonperforming | 5,372 | 5,720 |
Nonperforming Financing Receivable [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 255 | |
Total nonperforming | 255 | |
Nonperforming Financing Receivable [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,654 | 2,634 |
Total nonperforming | 2,654 | 2,634 |
Nonperforming Financing Receivable [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
90+ days past due accruing | 45 | 74 |
Total nonperforming | 45 | 74 |
Nonperforming Financing Receivable [Member] | Multi-Family Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 127 | 158 |
Total nonperforming | 127 | 158 |
Nonperforming Financing Receivable [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 882 | 1,241 |
Total nonperforming | $ 882 | $ 1,241 |
Loan Quality and Allowance fo58
Loan Quality and Allowance for Loan Losses - Impairment Status of Loans Receivable (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Jun. 30, 2017 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-impaired loans | $ 3,329,588 | $ 3,329,588 | $ 3,220,407 | ||
Impaired loans with no allowance for impairment | 19,258 | 19,258 | 18,911 | ||
Recorded investment | 844 | 844 | 3,135 | ||
Allowance for impairment | (133) | (133) | (199) | ||
Balance of impaired loans net of allowance for impairment | 711 | 711 | 2,936 | ||
Total impaired loans, excluding allowance for impairment: | 20,102 | 20,102 | 22,046 | ||
Loans and Leases Receivable, Gross | 3,349,690 | 3,349,690 | 3,242,453 | ||
Unpaid principal balance of impaired loans | 36,882 | 36,882 | 37,745 | ||
Average balance of impaired loans | 19,541 | $ 24,864 | 20,618 | $ 25,261 | |
Interest earned on impaired loans | 43 | 41 | 131 | 120 | |
Residential Mortgage [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-impaired loans | 555,803 | 555,803 | 556,680 | ||
Impaired loans with no allowance for impairment | 7,260 | 7,260 | 8,971 | ||
Recorded investment | 744 | 744 | 1,672 | ||
Allowance for impairment | (83) | (83) | (154) | ||
Balance of impaired loans net of allowance for impairment | 661 | 661 | 1,518 | ||
Total impaired loans, excluding allowance for impairment: | 8,004 | 8,004 | 10,643 | ||
Loans and Leases Receivable, Gross | 563,807 | 563,807 | 567,323 | ||
Unpaid principal balance of impaired loans | 12,678 | 12,678 | 16,479 | ||
Average balance of impaired loans | 8,048 | 12,933 | 9,019 | 13,055 | |
Interest earned on impaired loans | 33 | 25 | 99 | 74 | |
Non-Residential Mortgage [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-impaired loans | 1,105,674 | 1,105,674 | 1,079,187 | ||
Impaired loans with no allowance for impairment | 7,711 | 7,711 | 4,521 | ||
Recorded investment | 1,356 | ||||
Allowance for impairment | (39) | ||||
Balance of impaired loans net of allowance for impairment | 1,317 | ||||
Total impaired loans, excluding allowance for impairment: | 7,711 | 7,711 | 5,877 | ||
Loans and Leases Receivable, Gross | 1,113,385 | 1,113,385 | 1,085,064 | ||
Unpaid principal balance of impaired loans | 14,049 | 14,049 | 10,002 | ||
Average balance of impaired loans | 7,038 | 6,066 | 6,823 | 6,372 | |
Interest earned on impaired loans | 4 | ||||
Construction [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-impaired loans | 22,963 | 22,963 | 3,203 | ||
Impaired loans with no allowance for impairment | 612 | ||||
Total impaired loans, excluding allowance for impairment: | 612 | ||||
Loans and Leases Receivable, Gross | 22,963 | 22,963 | 3,815 | ||
Unpaid principal balance of impaired loans | 106 | 106 | 691 | ||
Average balance of impaired loans | 518 | 137 | 400 | ||
Interest earned on impaired loans | 3 | 3 | |||
Commercial Business [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-impaired loans | 85,538 | 85,538 | 71,609 | ||
Impaired loans with no allowance for impairment | 2,578 | 2,578 | 2,755 | ||
Recorded investment | 100 | 100 | 107 | ||
Allowance for impairment | (50) | (50) | (6) | ||
Balance of impaired loans net of allowance for impairment | 50 | 50 | 101 | ||
Total impaired loans, excluding allowance for impairment: | 2,678 | 2,678 | 2,862 | ||
Loans and Leases Receivable, Gross | 88,216 | 88,216 | 74,471 | ||
Unpaid principal balance of impaired loans | 6,506 | 6,506 | 6,682 | ||
Average balance of impaired loans | 2,762 | 3,134 | 2,805 | 3,154 | |
Interest earned on impaired loans | 1 | 3 | 4 | 9 | |
Other Consumer [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-impaired loans | 10,224 | 10,224 | 16,383 | ||
Loans and Leases Receivable, Gross | 10,224 | 10,224 | 16,383 | ||
Multi-Family Mortgage [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-impaired loans | 1,471,446 | 1,471,446 | 1,412,417 | ||
Impaired loans with no allowance for impairment | 127 | 127 | 158 | ||
Total impaired loans, excluding allowance for impairment: | 127 | 127 | 158 | ||
Loans and Leases Receivable, Gross | 1,471,573 | 1,471,573 | 1,412,575 | ||
Unpaid principal balance of impaired loans | 930 | 930 | 930 | ||
Average balance of impaired loans | 130 | 176 | 141 | 187 | |
Home Equity Loans [Member] | |||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||||
Non-impaired loans | 77,940 | 77,940 | 80,928 | ||
Impaired loans with no allowance for impairment | 1,582 | 1,582 | 1,894 | ||
Total impaired loans, excluding allowance for impairment: | 1,582 | 1,582 | 1,894 | ||
Loans and Leases Receivable, Gross | 79,522 | 79,522 | 82,822 | ||
Unpaid principal balance of impaired loans | 2,613 | 2,613 | $ 2,961 | ||
Average balance of impaired loans | 1,563 | 2,037 | 1,693 | 2,093 | |
Interest earned on impaired loans | $ 9 | $ 10 | $ 24 | $ 34 |
Loan Quality and Allowance fo59
Loan Quality and Allowance for Loan Losses - Troubled Debt Restructurings of Loans Receivable (Detail) $ in Thousands | 9 Months Ended | |
Mar. 31, 2018USD ($)Loan | Mar. 31, 2017USD ($)Loan | |
Financing Receivable, Modifications [Line Items] | ||
Number of loans | Loan | 8 | 4 |
Pre-modification outstanding recorded investment | $ 1,908 | $ 712 |
Post-modification outstanding recorded investment | 2,214 | 688 |
Charge offs against the allowance for loan loss recognized at modification | $ 153 | $ 53 |
Residential Mortgage [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of loans | Loan | 5 | 1 |
Pre-modification outstanding recorded investment | $ 1,521 | $ 197 |
Post-modification outstanding recorded investment | 1,813 | 186 |
Charge offs against the allowance for loan loss recognized at modification | $ 145 | $ 14 |
Non-Residential Mortgage [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of loans | Loan | 2 | 1 |
Pre-modification outstanding recorded investment | $ 315 | $ 244 |
Post-modification outstanding recorded investment | 330 | 223 |
Charge offs against the allowance for loan loss recognized at modification | $ 7 | $ 27 |
Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of loans | Loan | 1 | 2 |
Pre-modification outstanding recorded investment | $ 72 | $ 271 |
Post-modification outstanding recorded investment | 71 | 279 |
Charge offs against the allowance for loan loss recognized at modification | $ 1 | $ 12 |
Deposits - Summary of Deposits
Deposits - Summary of Deposits (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Deposits [Abstract] | ||
Non-interest-bearing demand | $ 270,217 | $ 267,412 |
Interest-bearing demand | 871,801 | 847,663 |
Savings and club | 515,807 | 523,984 |
Certificates of deposits | 1,409,973 | 1,291,068 |
Total deposits | $ 3,067,798 | $ 2,930,127 |
Borrowings - Schedule of Fixed
Borrowings - Schedule of Fixed Rate Advances from FHLB (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Debt Instrument [Line Items] | ||
Federal Home Loan Bank Advances Maturities Summary Due In Remainder Of Fiscal Year | $ 630,225 | $ 630,225 |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Four | 388 | 469 |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Six | 145,000 | 145,000 |
Federal Home Loan Bank, Advances, Total | 775,613 | 775,694 |
Federal Home Loan Bank, Advances, Unamortized Fair Value Adjustments | 12 | 2 |
Total Federal Home Loan Bank, Advances, After Fair Value Adjustments | $ 775,625 | $ 775,696 |
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate of Amounts Due within One Year of Balance Sheet Date | 1.99% | 1.29% |
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate, Three to Four Years from Balance Sheet Date | 4.94% | 4.94% |
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate, Five to Six Years from Balance Sheet Date | 3.04% | 3.04% |
Weighted Average [Member] | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Weighted Average Interest Rate | 2.19% | 1.62% |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - USD ($) $ in Millions | Mar. 31, 2018 | Jun. 30, 2017 |
Debt Instrument [Line Items] | ||
Federal Home Loan Bank, advances, maturities summary, due in next twelve months | $ 630.2 | |
Federal Home Loan Bank, advances, maturities summary, due from after one year of balance sheet date | 145.4 | |
Federal Home Loan Bank, advances, callable in April 2018 | 145 | |
Other borrowings, sweep accounts | 34.4 | $ 30.5 |
Borrowings for liquidity management purposes | 42 | |
Mortgage-Backed Securities [Member] | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank, advances, general debt obligations, disclosures, collateral pledged | 163.7 | 159.4 |
Investment in Federal Home Loan Bank Stock [Member] | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank, advances, general debt obligations, disclosures, collateral pledged | $ 2,000 | $ 1,900 |
Derivative Instruments and He63
Derivative Instruments and Hedging Activities - Fair Values of Derivative Financial Instruments as well as Their Classification on Statement of Financial Condition (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Derivative [Line Items] | ||
Fair Value | $ 28,064 | $ 7,512 |
Derivatives Designated as Hedging Instruments [Member] | Other Assets [Member] | ||
Derivative [Line Items] | ||
Fair Value | 28,064 | 7,810 |
Derivatives Designated as Hedging Instruments [Member] | Other Liabilities [Member] | ||
Derivative [Line Items] | ||
Fair Value | 298 | |
Interest Rate Swaps [Member] | ||
Derivative [Line Items] | ||
Fair Value | 27,946 | 7,372 |
Interest Rate Swaps [Member] | Derivatives Designated as Hedging Instruments [Member] | Other Assets [Member] | ||
Derivative [Line Items] | ||
Fair Value | 27,946 | 7,670 |
Interest Rate Swaps [Member] | Derivatives Designated as Hedging Instruments [Member] | Other Liabilities [Member] | ||
Derivative [Line Items] | ||
Fair Value | 298 | |
Interest Rate Caps [Member] | ||
Derivative [Line Items] | ||
Fair Value | 118 | 140 |
Interest Rate Caps [Member] | Derivatives Designated as Hedging Instruments [Member] | Other Assets [Member] | ||
Derivative [Line Items] | ||
Fair Value | $ 118 | $ 140 |
Derivative Instruments and He64
Derivative Instruments and Hedging Activities - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2018USD ($)Instruments | Mar. 31, 2017USD ($) | Mar. 31, 2018USD ($)Instruments | Mar. 31, 2017USD ($) | Jun. 30, 2017USD ($) | |
Derivative [Line Items] | |||||
Termination value of derivatives in net liability position | $ 0 | $ 0 | $ 302,000 | ||
Loan Origination Commitments [Member] | |||||
Derivative [Line Items] | |||||
Pipeline of loans held-for-sale | 9,300,000 | 9,300,000 | 18,400,000 | ||
Counter Party [Member] | |||||
Derivative [Line Items] | |||||
Financial collateral received under the enforceable master netting arrangement | 28,200,000 | 28,200,000 | 5,800,000 | ||
Financial collateral posted under the enforceable master netting arrangement | $ 1,000,000 | ||||
Interest Expense [Member] | |||||
Derivative [Line Items] | |||||
Estimated cash flow hedge gain (loss) to be reclassified in next twelve months | (4,600,000) | ||||
Cash Flow Hedges [Member] | |||||
Derivative [Line Items] | |||||
Reclassifications to interest expense | $ (599,000) | $ (1,493,000) | $ (3,281,000) | $ (5,080,000) | |
Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | |||||
Derivative [Line Items] | |||||
Number of interest rate derivative instruments held | Instruments | 15 | 15 | |||
Derivative, notional amount | $ 1,200,000,000 | $ 1,200,000,000 | |||
Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | Interest Expense [Member] | |||||
Derivative [Line Items] | |||||
Reclassifications to interest expense | $ (352,000) | (1,274,000) | $ (2,475,000) | (4,509,000) | |
Cash Flow Hedges [Member] | Interest Rate Caps [Member] | |||||
Derivative [Line Items] | |||||
Number of interest rate derivative instruments held | Instruments | 2 | 2 | |||
Derivative, notional amount | $ 75,000,000 | $ 75,000,000 | |||
Cash Flow Hedges [Member] | Interest Rate Caps [Member] | Interest Expense [Member] | |||||
Derivative [Line Items] | |||||
Reclassifications to interest expense | $ (247,000) | $ (219,000) | $ (806,000) | $ (571,000) |
Derivative Instruments and He65
Derivative Instruments and Hedging Activities - Pre-tax Effects of Derivative Instruments on Consolidated Statements of Income and Comprehensive Income (Detail) - Derivatives in Cash Flow Hedging Relationships [Member] - USD ($) | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Derivative [Line Items] | ||||
Amount of Gain (Loss) Recognized in OCI on Derivatives | $ 11,722,000 | $ 1,053,000 | $ 18,176,000 | $ 26,565,000 |
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income | (599,000) | (1,493,000) | (3,281,000) | (5,080,000) |
Interest Rate Swaps [Member] | ||||
Derivative [Line Items] | ||||
Amount of Gain (Loss) Recognized in OCI on Derivatives | 11,672,000 | 1,017,000 | 18,099,000 | 26,439,000 |
Interest Rate Swaps [Member] | Interest Expense [Member] | ||||
Derivative [Line Items] | ||||
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income | (352,000) | (1,274,000) | (2,475,000) | (4,509,000) |
Interest Rate Caps [Member] | ||||
Derivative [Line Items] | ||||
Amount of Gain (Loss) Recognized in OCI on Derivatives | 50,000 | 36,000 | 77,000 | 126,000 |
Interest Rate Caps [Member] | Interest Expense [Member] | ||||
Derivative [Line Items] | ||||
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income | $ (247,000) | $ (219,000) | $ (806,000) | $ (571,000) |
Derivative Instruments and He66
Derivative Instruments and Hedging Activities - Offsetting Derivatives (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Derivative [Line Items] | ||
Gross Amount Recognized, Assets | $ 28,128 | $ 12,979 |
Gross Amounts Offset, Assets | (64) | (5,169) |
Net Amounts Presented, Assets | 28,064 | 7,810 |
Gross Amounts Not Offset, Cash Collateral Received, Assets | (28,064) | (5,770) |
Net Amount, Assets | 2,040 | |
Gross Amount Recognized, Liabilities | 64 | 5,467 |
Gross Amounts Offset, Liabilities | (64) | (5,169) |
Net Amounts Presented, Liabilities | 298 | |
Gross Amounts Not Offset, Cash Collateral Posted, Liabilities | (298) | |
Interest Rate Swaps [Member] | ||
Derivative [Line Items] | ||
Gross Amount Recognized, Assets | 28,010 | 12,839 |
Gross Amounts Offset, Assets | (64) | (5,169) |
Net Amounts Presented, Assets | 27,946 | 7,670 |
Gross Amounts Not Offset, Cash Collateral Received, Assets | (28,064) | (5,770) |
Net Amount, Assets | (118) | 1,900 |
Gross Amount Recognized, Liabilities | 64 | 5,467 |
Gross Amounts Offset, Liabilities | (64) | (5,169) |
Net Amounts Presented, Liabilities | 298 | |
Gross Amounts Not Offset, Cash Collateral Posted, Liabilities | (298) | |
Interest Rate Caps [Member] | ||
Derivative [Line Items] | ||
Gross Amount Recognized, Assets | 118 | 140 |
Net Amounts Presented, Assets | 118 | 140 |
Net Amount, Assets | $ 118 | $ 140 |
Benefit Plans - Schedule of Net
Benefit Plans - Schedule of Net Periodic Benefit Expense (Detail) - Benefit Equalization Plan, Postretirement Welfare Plan, Directors Consultation and Retirement Plan and Atlas Bank Retirement Income Plan [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items] | ||||
Service cost | $ 12 | $ 8 | $ 36 | $ 24 |
Interest cost | 93 | 95 | 279 | 285 |
Amortization of unrecognized loss | 11 | 17 | 34 | 49 |
Expected return on assets | (30) | (62) | (90) | (186) |
Net periodic benefit cost | $ 86 | $ 58 | $ 259 | $ 172 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income Tax Disclosure [Line Items] | ||||||||
Federal income tax rate | 28.00% | 35.00% | 35.00% | 28.00% | 35.00% | 35.00% | ||
Scenario, Forecast [Member] | ||||||||
Income Tax Disclosure [Line Items] | ||||||||
Federal income tax rate | 21.00% | 28.00% |
Income Taxes - Schedule of Effe
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | ||||||
Income before income taxes | $ 7,639 | $ 5,617 | $ 22,025 | $ 20,912 | ||
Federal income tax rate | 28.00% | 35.00% | 35.00% | 28.00% | 35.00% | 35.00% |
Federal income tax expense at statutory rate | $ 2,139 | $ 1,966 | $ 6,167 | $ 7,319 | ||
(Reduction) increases in income taxes resulting from: Tax exempt interest | (180) | (192) | (529) | (586) | ||
(Reduction) increases in income taxes resulting from: State tax, net of federal tax effect | 493 | 320 | 1,463 | 1,179 | ||
(Reduction) increases in income taxes resulting from: Incentive stock options compensation expense | 35 | 44 | 107 | 79 | ||
(Reduction) increases in income taxes resulting from: Income from bank-owned life insurance | (343) | (447) | (1,053) | (1,348) | ||
(Reduction) increases in income taxes resulting from: Disqualifying disposition on incentive stock options | (165) | (11) | (165) | |||
(Reduction) increases in income taxes resulting from: Non-deductible merger-related expenses | 94 | 294 | ||||
(Reductions) increases in income taxes resulting from: Other items, net | 24 | 23 | 223 | 235 | ||
(Reduction) increases in income taxes resulting from: Impact of federal income tax reform | 3,486 | |||||
Total income tax expense | $ 2,262 | $ 1,549 | $ 10,147 | $ 6,713 | ||
Effective income tax rate | 29.61% | 27.58% | 46.07% | 32.10% |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Income Tax Disclosure [Abstract] | ||
Deferred income tax assets: Purchase accounting | $ 209 | $ 466 |
Deferred income tax assets: Accumulated other comprehensive income - Defined benefit plans | 312 | 434 |
Deferred income tax assets: Accumulated other comprehensive income - Unrealized loss on securities available for sale | 1,212 | 975 |
Deferred income tax assets: Accumulated other comprehensive income - Unrealized loss on securities available for sale transferred to held to maturity | 274 | 453 |
Deferred income tax assets: Allowance for loan losses | 8,503 | 11,963 |
Deferred income tax assets: Benefit plans | 1,928 | 2,675 |
Deferred income tax assets: Compensation | 577 | 1,146 |
Deferred income tax assets: Stock-based compensation | 1,641 | 2,278 |
Deferred income tax assets: Uncollected interest | 1,053 | 2,700 |
Deferred income tax assets: Depreciation | 910 | 1,221 |
Deferred income tax assets: Charitable contribution carryover | 1,017 | 2,139 |
Deferred income tax assets: Other items | 521 | 642 |
Deferred Tax Assets, Gross, Total | 18,157 | 27,092 |
Deferred income tax assets: Valuation allowance | (135) | (135) |
Deferred Tax Assets, Net of valuation allowance, Total | 18,022 | 26,957 |
Deferred income tax liabilities: Deferred costs | 1,484 | 2,083 |
Deferred income tax liabilities: Derivatives | 7,808 | 2,582 |
Deferred income tax liabilities: Goodwill | 4,385 | 6,167 |
Deferred income tax liabilities: Other items | 447 | 671 |
Deferred Tax Liabilities, Gross, Total | 14,124 | 11,503 |
Net deferred income tax asset | $ 3,898 | $ 15,454 |
Fair Value of Financial Instr71
Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured At Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | $ 542,495 | $ 444,497 |
Mortgage-backed securities available for sale | 142,276 | 169,263 |
Securities available for sale | 684,771 | 613,760 |
Derivative instruments, Fair Value, Net | 28,064 | 7,512 |
Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 542,495 | 444,497 |
Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 4,667 | 5,316 |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 26,733 | 27,740 |
Debt Securities [Member] | Asset-backed Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 182,066 | 162,429 |
Debt Securities [Member] | Collateralized Loan Obligations [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 178,342 | 98,154 |
Debt Securities [Member] | Corporate Bonds [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 142,202 | 142,318 |
Debt Securities [Member] | Trust Preferred Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 8,485 | 8,540 |
Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | 25,601 | 30,536 |
Securities available for sale | 25,601 | 30,536 |
Residential Pass-Through Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | 108,736 | 130,550 |
Securities available for sale | 108,736 | 130,550 |
Commercial Pass-Through Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | 7,939 | 8,177 |
Securities available for sale | 7,939 | 8,177 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 541,495 | 443,497 |
Mortgage-backed securities available for sale | 142,276 | 169,263 |
Securities available for sale | 683,771 | 612,760 |
Derivative instruments, Fair Value, Net | 28,064 | 7,512 |
Significant Other Observable Inputs (Level 2) [Member] | Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 4,667 | 5,316 |
Significant Other Observable Inputs (Level 2) [Member] | Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 26,733 | 27,740 |
Significant Other Observable Inputs (Level 2) [Member] | Debt Securities [Member] | Asset-backed Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 182,066 | 162,429 |
Significant Other Observable Inputs (Level 2) [Member] | Debt Securities [Member] | Collateralized Loan Obligations [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 178,342 | 98,154 |
Significant Other Observable Inputs (Level 2) [Member] | Debt Securities [Member] | Corporate Bonds [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 142,202 | 142,318 |
Significant Other Observable Inputs (Level 2) [Member] | Debt Securities [Member] | Trust Preferred Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 7,485 | 7,540 |
Significant Other Observable Inputs (Level 2) [Member] | Collateralized Mortgage Obligations Excluding Pass Through Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | 25,601 | 30,536 |
Significant Other Observable Inputs (Level 2) [Member] | Residential Pass-Through Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | 108,736 | 130,550 |
Significant Other Observable Inputs (Level 2) [Member] | Commercial Pass-Through Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | 7,939 | 8,177 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 1,000 | 1,000 |
Securities available for sale | 1,000 | 1,000 |
Significant Unobservable Inputs (Level 3) [Member] | Debt Securities [Member] | Trust Preferred Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 1,000 | 1,000 |
Interest Rate Swaps [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Derivative instruments, Fair Value, Net | 27,946 | 7,372 |
Interest Rate Swaps [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Derivative instruments, Fair Value, Net | 27,946 | 7,372 |
Interest Rate Caps [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Derivative instruments, Fair Value, Net | 118 | 140 |
Interest Rate Caps [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Derivative instruments, Fair Value, Net | $ 118 | $ 140 |
Fair Value of Financial Instr72
Fair Value of Financial Instruments - Additional Information (Detail) | 9 Months Ended | |
Mar. 31, 2018USD ($)Security | Jun. 30, 2017USD ($) | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | $ 542,495,000 | $ 444,497,000 |
Financing receivable, allowance for credit losses, individually evaluated for impairment | 133,000 | 199,000 |
Loans and Leases Receivable, Gross | 3,254,183,000 | 3,137,304,000 |
Impaired Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 5,017,000 | 7,956,000 |
Loan Origination Commitments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Pipeline of loans held-for-sale | 9,300,000 | 18,400,000 |
Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 542,495,000 | 444,497,000 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 1,000,000 | 1,000,000 |
Loans and Leases Receivable, Gross | 3,254,183,000 | 3,137,304,000 |
Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 5,017,000 | 7,956,000 |
Financing receivable, allowance for credit losses, individually evaluated for impairment | 133,000 | 199,000 |
Loans and Leases Receivable, Gross | 5,100,000 | 8,200,000 |
Significant Unobservable Inputs (Level 3) [Member] | Real Estate Owned [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 0 | $ 0 |
Significant Unobservable Inputs (Level 3) [Member] | Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Number of trust preferred securities | Security | 1 | |
Significant Unobservable Inputs (Level 3) [Member] | Debt Securities [Member] | One Trust Preferred Security [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | $ 1,000,000 |
Fair Value of Financial Instr73
Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured At Fair Value on a Non-recurring Basis (Detail) - Impaired Loans [Member] - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 5,017 | $ 7,956 |
Residential Mortgage [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 4,057 | 5,711 |
Non-Residential Mortgage [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 798 | 2,126 |
Commercial Business [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 162 | 119 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 5,017 | 7,956 |
Significant Unobservable Inputs (Level 3) [Member] | Residential Mortgage [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 4,057 | 5,711 |
Significant Unobservable Inputs (Level 3) [Member] | Non-Residential Mortgage [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 798 | 2,126 |
Significant Unobservable Inputs (Level 3) [Member] | Commercial Business [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 162 | $ 119 |
Fair Value of Financial Instr74
Fair Value of Financial Instruments - Schedule of Quantitative Information about Level 3 Fair Value Measurements (Detail) - Impaired Loans [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Jun. 30, 2017 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 5,017 | $ 7,956 |
Residential Mortgage [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 4,057 | 5,711 |
Non-Residential Mortgage [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 798 | 2,126 |
Commercial Business [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 162 | 119 |
Market Valuation of Underlying Collateral [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 5,017 | 7,956 |
Market Valuation of Underlying Collateral [Member] | Selling Costs [Member] | Residential Mortgage [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 4,057 | $ 5,711 |
Valuation Techniques | Market valuation of collateral | |
Unobservable Input | Selling costs | |
Weighted Average | 10.08% | 8.12% |
Market Valuation of Underlying Collateral [Member] | Selling Costs [Member] | Non-Residential Mortgage [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 798 | $ 2,126 |
Valuation Techniques | Market valuation of collateral | |
Unobservable Input | Selling costs | |
Weighted Average | 13.34% | 6.93% |
Market Valuation of Underlying Collateral [Member] | Selling Costs [Member] | Commercial Business [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 162 | $ 119 |
Valuation Techniques | Market valuation of collateral | |
Unobservable Input | Selling costs | |
Weighted Average | 14.47% | 12.79% |
Market Valuation of Underlying Collateral [Member] | Selling Costs [Member] | Minimum [Member] | Residential Mortgage [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 6.00% | 6.00% |
Market Valuation of Underlying Collateral [Member] | Selling Costs [Member] | Minimum [Member] | Non-Residential Mortgage [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 13.00% | 0.00% |
Market Valuation of Underlying Collateral [Member] | Selling Costs [Member] | Minimum [Member] | Commercial Business [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 12.00% | 9.00% |
Market Valuation of Underlying Collateral [Member] | Selling Costs [Member] | Maximum [Member] | Residential Mortgage [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 25.00% | 21.00% |
Market Valuation of Underlying Collateral [Member] | Selling Costs [Member] | Maximum [Member] | Non-Residential Mortgage [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 14.00% | 12.00% |
Market Valuation of Underlying Collateral [Member] | Selling Costs [Member] | Maximum [Member] | Commercial Business [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 20.00% | 20.00% |
Fair Value of Financial Instr75
Fair Value of Financial Instruments - Schedule of Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | $ 38,283 | $ 78,237 |
Securities available for sale, Fair value | 542,495 | 444,497 |
Mortgage-backed securities available for sale | 142,276 | 169,263 |
Debt securities held to maturity | 128,011 | 144,713 |
Mortgage-backed securities held to maturity, fair value disclosure | 325,233 | 350,289 |
Loans held-for-sale | 2,377 | 4,692 |
Net loans receivable | 3,254,183 | 3,137,304 |
Interest receivable | 13,926 | 12,493 |
Deposits | 3,056,111 | 2,943,908 |
Borrowings | 856,046 | 823,435 |
Interest payable on borrowings | 1,647 | 1,391 |
Securities held to maturity, estimated fair value | 126,045 | 145,505 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 38,283 | 78,237 |
Interest receivable | 6 | |
Deposits | 1,657,824 | 1,639,059 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 541,495 | 443,497 |
Mortgage-backed securities available for sale | 142,276 | 169,263 |
Mortgage-backed securities held to maturity, fair value disclosure | 325,233 | 350,289 |
Loans held-for-sale | 2,377 | 4,692 |
Interest receivable | 4,197 | 3,169 |
Securities held to maturity, estimated fair value | 126,045 | 145,505 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Securities available for sale, Fair value | 1,000 | 1,000 |
Net loans receivable | 3,254,183 | 3,137,304 |
Interest receivable | 9,729 | 9,318 |
Deposits | 1,398,286 | 1,304,849 |
Borrowings | 856,046 | 823,435 |
Interest payable on borrowings | 1,647 | 1,391 |
Carrying Amount [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 38,283 | 78,237 |
Securities available for sale, Fair value | 542,495 | 444,497 |
Mortgage-backed securities available for sale | 142,276 | 169,263 |
Debt securities held to maturity | 128,011 | 144,713 |
Mortgage-backed securities held to maturity, fair value disclosure | 331,369 | 348,608 |
Loans held-for-sale | 2,377 | 4,692 |
Net loans receivable | 3,321,121 | 3,215,975 |
FHLB Stock | 39,112 | 39,958 |
Interest receivable | 13,926 | 12,493 |
Deposits | 3,067,798 | 2,930,127 |
Borrowings | 852,009 | 806,228 |
Interest payable on borrowings | $ 1,647 | $ 1,391 |
Fair Value of Financial Instr76
Fair Value of Financial Instruments - Schedule of Carrying Amounts and Fair Values of Financial Instruments (Parenthetical) (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 |
Fair Value Disclosures [Abstract] | ||
Accrued interest payable on deposits | $ 696,000 | $ 382,000 |
Comprehensive Income - Schedule
Comprehensive Income - Schedule of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Total accumulated other comprehensive income | $ 991,201 | $ 1,057,181 | $ 1,094,010 | $ 1,147,629 |
Net Unrealized Loss on Securities Available for Sale [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Accumulated other comprehensive income, before tax | (4,508) | (2,385) | ||
Tax effect | 1,212 | 975 | ||
Total accumulated other comprehensive income | (3,296) | (1,410) | ||
Net Unrealized Loss on Securities Transferred from Available for Sale to Held to Maturity [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Accumulated other comprehensive income, before tax | (974) | (1,109) | ||
Tax effect | 274 | 453 | ||
Total accumulated other comprehensive income | (700) | (656) | ||
Fair Value Adjustments on Derivatives [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Accumulated other comprehensive income, before tax | 27,776 | 6,319 | ||
Tax effect | (7,808) | (2,582) | ||
Total accumulated other comprehensive income | 19,968 | 3,737 | ||
Benefit Plan Adjustments [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Accumulated other comprehensive income, before tax | (1,110) | (1,061) | ||
Tax effect | 312 | 434 | ||
Total accumulated other comprehensive income | (798) | (627) | ||
Accumulated Other Comprehensive Income [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Total accumulated other comprehensive income | $ 15,174 | $ 1,044 | $ 703 | $ (16,787) |
Comprehensive Income - Schedu78
Comprehensive Income - Schedule of Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | ||
Comprehensive Income Net Of Tax [Abstract] | |||||
Net unrealized holding (loss) gain on securities available for sale | $ (2,045) | $ 4,881 | $ (2,123) | $ (1,556) | |
Amortization of net unrealized holding gain (loss) on securities available for sale transferred to held to maturity | [1] | 32 | (124) | 135 | (160) |
Net realized gain on securities available for sale | 391 | 402 | |||
Fair value adjustments on derivatives | 12,323 | 2,546 | 21,457 | 31,645 | |
Benefit plans, Amortization of actuarial loss | [2] | 12 | 17 | 34 | 49 |
Benefit plans, Amortization of Net actuarial (loss) | (83) | (394) | |||
Net change in benefit plan accrued expense | 12 | 17 | (49) | (345) | |
Other comprehensive income before taxes | 10,322 | 7,711 | 19,420 | 29,986 | |
Stranded tax effects | [3] | (1,381) | |||
Tax effect | [4] | (2,941) | (2,963) | (5,290) | (12,496) |
Total Other Comprehensive Income | $ 7,381 | $ 4,748 | $ 12,749 | $ 17,490 | |
[1] | Represents amounts reclassified out of accumulated other comprehensive income and included in interest income on taxable securities. | ||||
[2] | Represents amounts reclassified out of accumulated other comprehensive income and included in the computation of net periodic pension expense. See Note 15 – Benefit Plans for additional information. | ||||
[3] | Represents amounts reclassified from accumulated other comprehensive income that did not reflect the appropriate tax rate. | ||||
[4] | The amounts included in income taxes for items reclassified out of accumulated other comprehensive income totaled $3 and $122 for the three and nine months ended March 31, 2018, respectively, and $167 and $23 for the three and nine months ended March 31, 2017, respectively. |
Comprehensive Income - Schedu79
Comprehensive Income - Schedule of Comprehensive Income (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
Tax effect | [1] | $ 2,941 | $ 2,963 | $ 5,290 | $ 12,496 |
Reclassification Out of Accumulated Other Comprehensive Income [Member] | |||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
Tax effect | $ 3 | $ 167 | $ 122 | $ 23 | |
[1] | The amounts included in income taxes for items reclassified out of accumulated other comprehensive income totaled $3 and $122 for the three and nine months ended March 31, 2018, respectively, and $167 and $23 for the three and nine months ended March 31, 2017, respectively. |