0001538263-21-000084 | 10-Q | XBRL Viewer

Premises and equipment, net

(34,406)

(35,468)

Net loans

2,685,236

2,697,799

68,568

70,909

Accrued interest receivable

8,429

7,933

Real Estate Owned ("REO")

188

Deferred income taxes

15,722

16,901

Bank Owned Life Insurance ("BOLI")

93,679

93,108

Goodwill

25,638

Core deposit intangibles

250

343

Other assets

58,445

57,488

Total Assets

3,481,360

3,524,723

Liabilities

Deposits

2,987,284

2,955,541

Borrowings

40,000

115,000

Other liabilities

57,565

57,663

Total liabilities

3,084,849

3,128,204

Stockholders' equity

Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued or outstanding

Common stock, $0.01 par value, 60,000,000 shares authorized, 16,307,658 shares issued and outstanding at September 30, 2021; 16,636,483 at June 30, 2021

163

167

Additional paid in capital

151,425

160,582

Retained earnings

249,331

240,075

Unearned Employee Stock Ownership Plan ("ESOP") shares

(5,687)

(5,819)

Accumulated other comprehensive income

1,279

1,514

Total stockholders' equity

396,511

396,519

Total liabilities and stockholders' equity

$ 3,481,360

$ 3,524,723

[1]	Derived from audited financial statements.

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Statement of Financial Position [Abstract]
Debt securities available for sale, at fair value, amortized cost	$ 122,915	$ 154,493
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock authorized shares	10,000,000	10,000,000
Preferred stock issued shares	0	0
Preferred stock shares outstanding	0	0
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized	60,000,000	60,000,000
Common stock shares issued	16,307,658	16,636,483
Common stock shares outstanding	16,307,658	16,636,483

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Sep. 30, 2021	Sep. 30, 2020
Interest and dividend income
Loans	$ 27,895	$ 28,592
Commercial paper and interest-bearing deposits	331	881
Debt securities available for sale	524	528
Other investments	555	448
Total interest and dividend income	29,305	30,449
Interest expense
Deposits	1,572	3,253
Borrowings	26	1,687
Total interest expense	1,598	4,940
Net interest income	27,707	25,509
Total provision (benefit) for credit losses	(1,460)	950
Net interest income after provision (benefit) for credit losses	29,167	24,559
Noninterest income
Service charges and fees on deposit accounts	2,372	2,097
Loan income and fees	979	474
Gain on sale of loans held for sale	4,057	3,344
BOLI income	518	532
Operating lease income	1,540	1,325
Other, net	886	867
Total noninterest income	10,352	8,639
Noninterest expense
Salaries and employee benefits	15,280	15,207
Net occupancy expense	2,317	2,293
Computer services	2,324	2,307
Telephone, postage, and supplies	712	662
Marketing and advertising	705	325
Deposit insurance premiums	566	511
REO related expense	142	213
Core deposit intangible amortization	93	238
Other	3,877	4,244
Total noninterest expense	26,016	26,000
Income before income taxes	13,503	7,198
Income tax expense	2,976	1,445
Net income	$ 10,527	$ 5,753
Net income per common share:
Basic (in dollars per share)	$ 0.66	$ 0.35
Diluted (in dollars per share)	$ 0.65	$ 0.35
Average shares outstanding:
Basic (in shares)	15,761,247	16,230,990
Diluted (in shares)	16,146,611	16,469,242

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net Income	$ 10,527	$ 5,753
Other comprehensive income (loss)
Gains (losses) arising during the period	(305)	199
Deferred income tax benefit (expense)	70	(46)
Total other comprehensive income (loss)	(235)	153
Comprehensive income	$ 10,292	$ 5,906

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative-effect adjustment due to the adoption of ASU 2016-13	Common Stock	Additional Paid In Capital	Retained Earnings	Retained Earnings Cumulative-effect adjustment due to the adoption of ASU 2016-13	Unearned ESOP Shares	Accumulated Other Comprehensive Income (loss)
Balance at beginning of period (in shares) at Jun. 30, 2020			17,021,357
Balance at beginning of period at Jun. 30, 2020	$ 408,263	$ (13,358)	$ 170	$ 169,648	$ 242,776	$ (13,358)	$ (6,348)	$ 2,017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,753				5,753
Cash dividends declared on common stock	(1,148)				(1,148)
Retired stock (in shares)			(633)
Retired stock	(9)			(9)
Stock option expense	164			164
Restricted stock expense	342			342
ESOP shares allocated	191			59			132
Other comprehensive income (loss)	153							153
Balance at end of period (in shares) at Sep. 30, 2020			17,020,724
Balance at end of period at Sep. 30, 2020	$ 400,351		$ 170	170,204	234,023		(6,216)	2,170
Balance at beginning of period (in shares) at Jun. 30, 2021	16,636,483		16,636,483
Balance at beginning of period at Jun. 30, 2021	$ 396,519		$ 167	160,582	240,075		(5,819)	1,514
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	10,527				10,527
Cash dividends declared on common stock	(1,271)				(1,271)
Shares repurchased (in shares)			(376,435)
Stock repurchased	(10,433)		$ (4)	(10,429)
Forfeited restricted stock (in shares)			(3,000)
Retired stock (in shares)			(2,708)
Retired stock	$ (75)			(75)
Granted restricted stock (in shares)	7,118
Exercised stock options (in shares)	46,200		46,200
Exercised stock options	$ 700			700
Stock option expense	159			159
Restricted stock expense	256			256
ESOP shares allocated	364			232			132
Other comprehensive income (loss)	$ (235)							(235)
Balance at end of period (in shares) at Sep. 30, 2021	16,307,658		16,307,658
Balance at end of period at Sep. 30, 2021	$ 396,511		$ 163	$ 151,425	$ 249,331		$ (5,687)	$ 1,279

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, dividends, declared (in dollars per share)	$ 80.00	$ 70.00

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating activities:
Net income	$ 10,527	$ 5,753
Adjustments to reconcile net income to net cash used in operating activities:
Provision (benefit) for credit losses	(1,460)	950
Depreciation	2,279	2,392
Deferred income tax expense	1,249	1,070
Net amortization and accretion	(34)	(442)
Loss (gain) on sale and impairment of REO	(3)	(35)
BOLI income	(518)	(532)
Gain on sale of loans held for sale	(4,057)	(3,344)
Origination of loans held for sale	(140,625)	(221,404)
Proceeds from sales of loans held for sale	129,679	158,185
Decrease in deferred loan fees, net	(1,562)	(1,753)
Decrease in accrued interest receivable and other assets	105	1,926
Core deposit intangible amortization	93	238
ESOP compensation expense	364	191
Restricted stock and stock option expense	415	506
Increase in other liabilities	27	516
Net cash used in operating activities	(3,521)	(55,783)
Investing activities:
Purchase of debt securities available for sale	(5,261)	(500)
Proceeds from maturities of debt securities available for sale	33,222	27,285
Net proceeds (purchases) of commercial paper	(6,901)	100,397
Purchase of certificates of deposit in other banks	(996)	(996)
Maturities of certificates of deposit in other banks	5,623	4,324
Principal repayments of mortgage-backed securities	3,003	4,635
Net redemptions (purchases) of other investments	2,819	(3)
Net decrease in loans	19,334	19,583
Purchase of BOLI	(53)	(56)
Purchase of equipment for operating leases and other assets	(879)	(2,918)
Proceeds from the sale of equipment for operating leases	1,165	0
Purchase of premises and equipment	(2,416)	(1,807)
Proceeds from sale of premises and equipment	634	0
Proceeds from sale of REO	146	228
Net cash provided by investing activities	49,440	150,172
Financing activities:
Net increase (decrease) in deposits	31,743	(43,710)
Net decrease in borrowings	(75,000)	0
Common stock repurchased	(10,433)	0
Cash dividends paid	(1,271)	(1,148)
Retired stock	(75)	(9)
Exercised stock options	700	0
Net cash used in financing activities	(54,336)	(44,867)
Net increase (decrease) in cash and cash equivalents	(8,417)	49,522
Cash and cash equivalents at beginning of period	50,990	121,622
Cash and cash equivalents at end of period	42,573	171,144
Cash paid during the period for:
Interest	1,599	5,308
Income taxes	39	1,686
Noncash transactions:
Unrealized gain (loss) in value of debt securities available for sale, net of income taxes	(235)	153
Transfer of loans held for sale to total loans held for investment	4,094	17,754
ROU asset and lease liabilities for operating lease accounting	959	533
Transfer of premises and equipment to held for sale (included in other assets)	$ 3,229	$ 0

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The consolidated financial statements presented in this report include the accounts of HomeTrust Bancshares, Inc., a Maryland corporation ("HomeTrust"), and its wholly-owned subsidiary, HomeTrust Bank (the "Bank"). As used throughout this report, the term the "Company" refers to HomeTrust and the Bank, its consolidated subsidiary, unless the context otherwise requires. The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the SEC. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. It is recommended that these unaudited interim consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended June 30, 2021 ("2021 Form 10-K") filed with the SEC on September 10, 2021. The results of operations for the three months ended September 30, 2021 are not necessarily indicative of results that may be expected for the entire fiscal year ending June 30, 2022. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company's accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions, and other subjective assessments. In particular, management has identified two accounting policies that, due to the judgments, estimates and assumptions inherent in those policies, are critical to an understanding of the Company's financial statements. These policies relate to (i) the determination of the provision and the allowance for credit losses on loans and (ii) the valuation of goodwill and other intangible assets. These policies and judgments, estimates and assumptions are described in greater detail in notes to the Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations (Critical Accounting Policies) in the Company's 2021 Form 10-K. Management believes that the judgments, estimates and assumptions used in the preparation of the financial statements are appropriate based on the factual circumstances at the time. However, given the sensitivity of the financial statements to these critical accounting policies, the use of other judgments, estimates and assumptions could result in material differences in the Company's results of operations or financial condition. Further, subsequent changes in economic or market conditions could have a material impact on these estimates and the Company's financial condition and operating results in future periods. Operating, Accounting and Reporting Considerations related to COVID-19 The COVID-19 pandemic has negatively impacted the global economy. In response to this crisis, the CARES Act was passed by Congress and signed into law on March 27, 2020. The CARES Act provides an estimated $2.2 trillion to fight the COVID-19 pandemic and stimulate the economy by supporting individuals and businesses through loans, grants, tax changes, and other types of relief. Some of the provisions applicable to the Company include, but are not limited to: • Accounting for Loan Modifications - The CARES Act provides that a financial institution may elect to suspend (i) the requirements under GAAP for certain loan modifications that would otherwise be categorized as a TDR and (ii) any determination that such loan modifications would be considered a TDR, including the related impairment for accounting purposes. The Bank has elected this as a policy change. • PPP - The CARES Act established the PPP, an expansion of the SBA's 7(a) loan program and the Economic Injury Disaster Loan Program, administered directly by the SBA. On December 27, 2020, the 2021 Consolidated Appropriations Act was signed into law providing $900 billion in stimulus relief from the COVID-19 pandemic. The legislation extended certain relief provisions in the CARES Act that were set to expire at the end of 2020. This new legislation extended the relief to financial institutions to suspend TDR assessment and reporting requirements under GAAP for loan modifications to the earlier of 60 days after the national emergency termination date or January 1, 2022. The legislation included additional funding for businesses that did not receive PPP funds under the CARES Act, especially minority- and women-owned businesses. In addition, it allowed businesses another opportunity to borrow PPP funds if they can show losses of 25% or more in 2020 based on their 2020 revenue. As of June 30, 2021, the program’s funds were depleted and the Company ended its participation in the origination of loans under the program. Also in response to the COVID-19 pandemic, the Board of Governors of the Federal Reserve System, the FDIC, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the Consumer Financial Protection Bureau, in consultation with the state financial regulators (collectively, the “agencies”) issued a joint interagency statement (issued March 22, 2020; revised statement issued April 7, 2020). Some of the provisions applicable to the Company include, but are not limited to: • Accounting for Loan Modifications - A loan modification that does not meet the conditions of the CARES Act may still qualify as a modification that does not need to be accounted for as a TDR. The agencies confirmed with FASB staff that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs. This includes short- term (e.g., six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or insignificant delays in payment. • Past Due Reporting - With regard to loans not otherwise reportable as past due, financial institutions are not expected to designate loans with deferrals granted due to COVID-19 as past due because of the deferral. A loan’s payment date is governed by the due date stipulated in the legal agreement. If a financial institution agrees to a payment deferral, these loans would not be considered past due during the period of the deferral. • Nonaccrual Status and Charge-offs - While short-term COVID-19 modifications are in effect, these loans generally should not be reported as nonaccrual or as classified. See "Note 6 – Loans and Allowance for Credit Losses on Loans" for more information on loans that have been modified or are in deferral due to COVID-19.

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." This ASU is part of the FASB's simplification initiative to reduce complexity in accounting standards. The items within this ASU are not expected to have a significant effect on current accounting practice. The effective date and transition requirements for the first and second items of this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2020 and early adoption is permitted. The adoption of ASU No. 2019-12 did not have a material impact on the Company's Consolidated Financial Statements. In January 2020, the FASB issued ASU 2020-01, "Investment—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815." This ASU clarified the interaction of the accounting for equity securities under Topic 321 and investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2021 and early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company's Consolidated Financial Statements. In March 2020, the FASB issued ASU 2020-03, "Codification Improvements to Financial Instruments." This ASU makes certain narrow-scope amendments to the following: i) clarified that all entities are required to provide fair value option disclosures; ii) clarified the applicability of the portfolio exception in ASC 820 to nonfinancial items; iii) aligned disclosures for depository and lending institutions (Topic 942) with guidance in Topic 320; iv) added cross-references to guidance in ASC 470-50 on line-of-credit or revolving-debt arrangements; v) added cross-references to net asset value practical expedient in ASC 820-10; vi) clarified the interaction between ASC 842 and ASC 326; and vii) clarified the interaction between ASC 326 and ASC 860-20. The amendments for issues i, ii, iv, and v became effective upon issuance and did not have a material effect on the Company's Consolidated Financial Statements. The Company adopted the amendments related to issue iii, vi, and vii on July 1, 2020. The adoption did not have a material effect on the Company's Consolidated Financial Statements. In September 2020, the FASB issued ASU 2020-06, "Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40)." This ASU simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity's own equity. Specifically the ASU removes: i) major separation models required under GAAP and ii) certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for the exception. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2021 and early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company's Consolidated Financial Statements. In October 2020, the FASB issued ASU 2020-08, "Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs." This ASU clarified that entities should reevaluate whether a callable debt security is within the scope of paragraph 310-20-35-33 for each reporting period. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2020. The adoption of this ASU did not have a material impact on the Company's Consolidated Financial Statements. In October 2020, the FASB issued ASU 2020-09, "Debt (Topic 470): Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762." This ASU updates financial disclosure requirements for subsidiary issuers and guarantors of registered debt securities and affiliates whose securities are pledged as collateral for registered securities. The amendments in this ASU are effective January 4, 2021. The adoption did not have an effect on the Company's Consolidated Financial Statements. In October 2020, the FASB issued ASU 2020-10, "Codification Improvements." The amendments in this update are part of the FASB's ongoing project to improve codification and correcting unintended application. This ASU, i) removes references to various FASB Concepts Statements, ii) situates all disclosure guidance in the appropriate disclosure section of the Codification, and iii) makes other improvements and technical corrections to the Codification. The items within this ASU are not expected to have a significant effect on current accounting practice. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2020 and early adoption is permitted. The adoption of this ASU did not have a material impact on the Company's Consolidated Financial Statements.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Investments, Debt and Equity Securities [Abstract]

Debt Securities

3 Months Ended

Sep. 30, 2021

Debt Securities

Debt securities available for sale consist of the following at the dates indicated:


	September 30, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. government agencies	$	18,979	$	123	$	(1)	$	19,101
Residential MBS of U.S. government agencies and GSEs	40,348		1,186		(76)		41,458
Municipal bonds	7,446		390		—		7,836
Corporate bonds	56,142		174		(135)		56,181

Total	$	122,915	$	1,873	$	(212)	$	124,576


	June 30, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. government agencies	$	18,975	$	135	$	(37)	$	19,073
Residential MBS of U.S. government agencies and GSEs	42,119		1,339		(54)		43,404
Municipal bonds	9,098		453		—		9,551
Corporate bonds	84,301		257		(127)		84,431

Total	$	154,493	$	2,184	$	(218)	$	156,459

Debt securities available for sale by contractual maturity at September 30, 2021 and June 30, 2021 are shown below. MBS are not included in the maturity categories because the borrowers in the underlying pools may prepay without penalty; therefore, it is unlikely that the securities will pay at their stated maturity schedule.



	September 30, 2021
	Amortized Cost		Estimated Fair Value
Due within one year	$	29,684	$	29,790
Due after one year through five years	48,816		49,103
Due after five years through ten years	4,067		4,225
Due after ten years	—		—
Mortgage-backed securities	40,348		41,458
Total	$	122,915	$	124,576



	June 30, 2021
	Amortized Cost		Estimated Fair Value
Due within one year	$	34,615	$	34,684
Due after one year through five years	73,249		73,633
Due after five years through ten years	4,510		4,738
Due after ten years	—		—
Mortgage-backed securities	42,119		43,404
Total	$	154,493	$	156,459

The Company had no sales of debt securities available for sale during the three months ended September 30, 2021 and 2020. There were no gross realized gains or losses for the three months ended September 30, 2021 and 2020.

Debt securities available for sale with amortized costs totaling $92,083 and $97,603 and market values of $93,142 and $98,890 at September 30, 2021 and June 30, 2021, respectively, were pledged as collateral to secure various public deposits and other borrowings.

The gross unrealized losses and the fair value for debt securities available for sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2021 and June 30, 2021 were as follows:


	September 30, 2021
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. government agencies	$	4,999	$	(1)	$	—	$	—	$	4,999	$	(1)
Residential MBS of U.S. government agencies and GSEs	8,616		(52)		1,171		(24)		9,787		(76)

Corporate bonds	23,865		(135)		—		—		23,865		(135)
Total	$	37,480	$	(188)	$	1,171	$	(24)	$	38,651	$	(212)


	June 30, 2021
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. government agencies	$	14,963	$	(37)	$	—	$	—	$	14,963	$	(37)
Residential MBS of U.S. government agencies and GSEs	5,212		(28)		1,205		(26)		6,417		(54)

Corporate bonds	19,873		(127)		—		—		19,873		(127)
Total	$	40,048	$	(192)	$	1,205	$	(26)	$	41,253	$	(218)

The total number of securities with unrealized losses at September 30, 2021, and June 30, 2021 were 31 and 28, respectively.

Management evaluates securities for impairment where there has been a decline in fair value below the amortized cost basis of a security to determine whether there is a credit loss associated with the decline in fair value on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. All debt securities available for sale in an unrealized loss position as of September 30, 2021 continue to perform as scheduled and management does not believe that there is a credit loss or that a provision for credit losses is necessary. Also, as part of management's evaluation of its intent and ability to hold investments for a period of time sufficient to allow for any anticipated recovery in the market, management considers its investment strategy, cash flow needs, liquidity position, capital adequacy and interest rate risk position. Management does not currently intend to sell the securities within the portfolio and it is not more-likely-than-not that securities will be required to be sold. See "Note 1 – Summary of Significant Account Policies" for further discussion.

Management continues to monitor all of its securities with a high degree of scrutiny. There can be no assurance that management will not conclude in future periods that conditions existing at that time indicate some or all of its securities may be sold or would require a charge to earnings as a provision for credit losses in such periods.

Management excludes the accrued interest receivable balance from the amortized cost basis in measuring expected credit losses on investment securities and does not record an allowance for credit losses on accrued interest receivable. As of September 30, 2021, the accrued interest receivable for debt securities available for sale was $611.

Other Investments

3 Months Ended

Sep. 30, 2021

Investments, All Other Investments [Abstract]

Other Investments

Other investments, at cost consist of the following at the dates indicated:


	September 30, 2021		June 30, 2021
FHLB of Atlanta stock	$	2,965	$	6,153
FRB stock	7,395		7,386
SBIC investments	10,531		10,171

Total	$	20,891	$	23,710

As a requirement for membership, the Bank invests in the stock of both the FHLB of Atlanta and the FRB. No ready market exists for these securities so carrying value, or cost, approximates their fair value based on the redemption provisions of the FHLB of Atlanta and the FRB, respectively. SBIC investments are equity securities without a readily determinable fair value and are recorded at cost.

Loans Held For Sale

3 Months Ended

Sep. 30, 2021

Loans Held For Sale

Loans held for sale as of the dates indicated consist of the following:


	September 30, 2021		June 30, 2021
One-to-four family	$	39,049	$	31,873
SBA	6,662		4,160
HELOCs	59,450		57,506

Total	$	105,161	$	93,539

Loans

3 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Loans

Loans and Allowance for Credit Losses on Loans

Loans consist of the following at the dates indicated:



	September 30, 2021		June 30, 2021
Commercial loans:
Commercial real estate	$	1,132,764	$	1,142,276
Construction and development	187,900		179,427
Commercial and industrial	153,612		141,341
Equipment finance	341,995		317,920
Municipal finance	142,100		140,421
PPP loans	28,762		46,650
Total commercial loans	1,987,133		1,968,035
Retail consumer loans:
One-to-four family	384,901		406,549
HELOCs - originated	129,791		130,225
HELOCs - purchased	33,943		38,976
Construction and land/lots	69,835		66,027
Indirect auto finance	106,184		115,093
Consumer	7,855		8,362
Total retail consumer loans	732,509		765,232
Total loans	2,719,642		2,733,267


Allowance for credit losses	(34,406)		(35,468)
Net loans	$	2,685,236	$	2,697,799

_________________________________________________________________

(1) At September 30, 2021 and June 30, 2021 accrued interest receivable of $7,818 and $7,339 was accounted for separately from the amortized cost basis.

All qualifying one-to-four family first mortgage loans, HELOCs, commercial real estate loans, and FHLB of Atlanta stock are pledged as collateral by a blanket pledge to secure any outstanding FHLB advances.

Loans are monitored for credit quality on a recurring basis and the composition of the loans outstanding by credit quality indicator is provided below. Loan credit quality indicators are developed through review of individual borrowers on an ongoing basis. Generally, loans are monitored for performance on a quarterly basis with the credit quality indicators adjusted as needed. The indicators represent the rating for loans as of the date presented based on the most recent assessment performed. These credit quality indicators are defined as follows:

Pass—A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification.

Special Mention—A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification.

Substandard—A substandard asset is inadequately protected by the current net worth and paying capacity of the obligor, or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected.

Doubtful—An asset classified doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, on the basis of currently existing facts, conditions, and values.

Loss—Assets classified loss are considered uncollectible and of such little value that their continuing to be carried as an asset is not warranted. This classification is not necessarily equivalent to no potential for recovery or salvage value, but rather that it is not appropriate to defer a full write-off even though partial recovery may be effected in the future.

The following table presents the credit risk profile by risk grade for commercial loans by origination year:


	Term Loans By Origination Fiscal Year
September 30,	2022		2021		2020		2019		2018		Prior		Revolving		Total
Commercial real estate
Risk rating:
Pass	$	41,037	$	232,436	$	169,932	$	139,212	$	151,001	$	346,044	$	26,018	$	1,105,680
Special mention	753		—		—		—		16,886		3,619		—		21,258
Substandard	—		—		—		—		621		4,807		398		5,826
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total commercial real estate	$	41,790	$	232,436	$	169,932	$	139,212	$	168,508	$	354,470	$	26,416	$	1,132,764

Construction and development
Risk rating:
Pass	$	6,647	$	24,896	$	2,543	$	4,207	$	4,615	$	8,331	$	132,184	$	183,423
Special mention	—		—		—		—		—		257		3,832		4,089
Substandard	—		—		—		—		—		388		—		388
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total construction and development	$	6,647	$	24,896	$	2,543	$	4,207	$	4,615	$	8,976	$	136,016	$	187,900

Commercial and industrial
Risk rating:
Pass	$	17,402	$	29,495	$	16,467	$	15,930	$	9,562	$	24,732	$	34,015	$	147,603
Special mention	—		—		—		431		108		116		37		692
Substandard	—		31		558		371		4,300		57		—		5,317
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total commercial and industrial	$	17,402	$	29,526	$	17,025	$	16,732	$	13,970	$	24,905	$	34,052	$	153,612

Equipment finance
Risk rating:
Pass	$	52,310	$	145,255	$	94,454	$	46,014	$	3,578	$	—	$	—	$	341,611
Special mention	—		94		—		—		—		—		—		94
Substandard	—		—		32		—		—		—		—		32
Doubtful	—		—		—		258		—		—		—		258
Loss	—		—		—		—		—		—		—		—
Total equipment finance	$	52,310	$	145,349	$	94,486	$	46,272	$	3,578	$	—	$	—	$	341,995

Municipal leases
Risk rating:
Pass	$	5,191	$	23,137	$	21,330	$	13,038	$	15,994	$	49,260	$	13,893	$	141,843
Special mention	—		—		—		—		—		257		—		257
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total municipal leases	$	5,191	$	23,137	$	21,330	$	13,038	$	15,994	$	49,517	$	13,893	$	142,100

PPP loans
Risk rating:
Pass	$	11	$	20,799	$	7,952	$	—	$	—	$	—	$	—	$	28,762
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total PPP loans	$	11	$	20,799	$	7,952	$	—	$	—	$	—	$	—	$	28,762

Total commercial loans
Risk rating:
Pass	$	122,598	$	476,018	$	312,678	$	218,401	$	184,750	$	428,367	$	206,110	$	1,948,922
Special mention	753		94		—		431		16,994		4,249		3,869		26,390
Substandard	—		31		590		371		4,921		5,252		398		11,563
Doubtful	—		—		—		258		—		—		—		258
Loss	—		—		—		—		—		—		—		—
Total commercial loans	$	123,351	$	476,143	$	313,268	$	219,461	$	206,665	$	437,868	$	210,377	$	1,987,133

The following table presents the credit risk profile by risk grade for retail consumer loans by origination year:


	Term Loans By Origination Fiscal Year
September 30,	2022			2021		2020		2019			2018		Prior		Revolving		Total
One-to-four family
Risk rating:
Pass	$	9,624		$	69,855	$	56,443	$	37,245		$	35,835	$	163,570	$	4,367	$	376,939
Special mention	—			—		—		—			—		1,091		—		1,091
Substandard	—			243		972		—			215		4,939		—		6,369
Doubtful	—			—		—		—			—		188		—		188
Loss	—			—		—		—			—		314		—		314
Total one-to-four family	$	9,624		$	70,098	$	57,415	$	37,245		$	36,050	$	170,102	$	4,367	$	384,901

HELOCs - originated
Risk rating:
Pass	$	297		$	1,578	$	365	$	1,366		$	242	$	9,309	$	115,486	$	128,643
Special mention	—			—		—		—			—		11		—		11
Substandard	—			—		—		159			—		926		52		1,137
Doubtful	—			—		—		—			—		—		—		—
Loss	—			—		—		—			—		—		—		—
Total HELOCs - originated	$	297		$	1,578	$	365	$	1,525		$	242	$	10,246	$	115,538	$	129,791

HELOCs - purchased
Risk rating:
Pass	$	—		$	—	$	—	$	—		$	—	$	—	$	33,490	$	33,490
Special mention	—			—		—		—			—		—		—		—
Substandard	—			—		—		—		0	—		—		453		453
Doubtful	—			—		—		—			—		—		—		—
Loss	—			—		—		—			—		—		—		—
Total HELOCs - purchased	$	—		$	—	$	—	$	—		$	—	$	—	$	33,943	$	33,943

Construction and land/lots
Risk rating:
Pass	$	431		$	8,096	$	8,454	$	747		$	—	$	2,781	$	48,920	$	69,429
Special mention	—			—		—		—			—		—		—		—
Substandard	—			—		—		—			—		406		—		406
Doubtful	—			—		—		—			—		—		—		—
Loss	—			—		—		—			—		—		—		—
Total construction and land/lots	$	431		$	8,096	$	8,454	$	747		$	—	$	3,187	$	48,920	$	69,835

Indirect auto finance
Risk rating:
Pass	$	8,103		$	37,082	$	23,730	$	13,635		$	15,561	$	7,222	$	—	$	105,333
Special mention	—		0	—		—		—			—		—		—		—
Substandard	—			12		353		120			208		157		—		850
Doubtful	—			—		—		—			—		—		—		—
Loss	—			1		—		—			—		—		—		1
Total indirect auto finance	$	8,103		$	37,095	$	24,083	$	13,755		$	15,769	$	7,379	$	—	$	106,184

Total consumer loans
Risk rating:
Pass	$	303		$	1,170	$	861	$	4,828		$	201	$	153	$	271	$	7,787
Special mention	—			—		—		—			14		—		—		14
Substandard	—			—		3		17			3		14		16		53
Doubtful	—			—		—		—			—		—		—		—
Loss	—			—		—		1			—		—		—		1
Total consumer loans	$	303		$	1,170	$	864	$	4,846		$	218	$	167	$	287	$	7,855

Total retail consumer loans
Risk rating:
Pass	$	18,758		$	117,781	$	89,853	$	57,821		$	51,839	$	183,035	$	202,534	$	721,621
Special mention	—			—		—		—			14		1,102		—		1,116
Substandard	—			255		1,328		296			426		6,442		521		9,268
Doubtful	—			—		—		—			—		188		—		188
Loss	—			1		—		1			—		314		—		316
Total retail consumer loans	$	18,758		$	118,037	$	91,181	$	58,118		$	52,279	$	191,081	$	203,055	$	732,509

The following table presents the credit risk profile by risk grade for commercial loans by origination year:


	Term Loans By Origination Fiscal Year
June 30,	2021		2020		2019		2018		2017		Prior		Revolving		Total
Commercial real estate
Risk rating:
Pass	$	227,850	$	177,691	$	142,407	$	158,147	$	158,525	$	220,834	$	25,860	$	1,111,314
Special mention	—		—		—		16,951		1,256		3,092		—		21,299
Substandard	—		—		—		630		4,993		3,642		398		9,663
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total commercial real estate	$	227,850	$	177,691	$	142,407	$	175,728	$	164,774	$	227,568	$	26,258	$	1,142,276

Construction and development
Risk rating:
Pass	18,262		6,523		10,349		6,008		2,693		7,153		123,843		$	174,831
Special mention	—		—		—		—		—		286		3,827		4,113
Substandard	—		—		—		—		—		482		—		482
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		1		—		1
Total construction and development	$	18,262	$	6,523	$	10,349	$	6,008	$	2,693	$	7,922	$	127,670	$	179,427

Commercial and industrial
Risk rating:
Pass	29,606		14,010		18,826		10,759		15,346		10,589		36,165		$	135,301
Special mention	—		21		438		110		32		125		37		763
Substandard	31		33		300		—		—		83		4,829		5,276
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		1		—		1
Total commercial and industrial	$	29,637	$	14,064	$	19,564	$	10,869	$	15,378	$	10,798	$	41,031	$	141,341

Equipment finance
Risk rating:
Pass	154,685		104,681		53,178		4,773		—		—		—		$	317,317
Special mention	—		—				—		—		—		—		—
Substandard	—		—		323		—		—		—		—		323
Doubtful	—		—		280		—		—		—		—		280
Loss	—		—		—		—		—		—		—		—
Total equipment finance	$	154,685	$	104,681	$	53,781	$	4,773	$	—	$	—	$	—	$	317,920

Municipal leases
Risk rating:
Pass	23,358		19,240		14,005		17,979		9,738		47,144		8,700		$	140,164
Special mention	—		—		—		—		—		257		—		257
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss			—		—		—		—		—		—		—
Total municipal leases	$	23,358	$	19,240	$	14,005	$	17,979	$	9,738	$	47,401	$	8,700	$	140,421

PPP loans
Risk rating:
Pass	29,667		16,983		—		—		—		—		—		$	46,650
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total PPP loans	$	29,667	$	16,983	$	—	$	—	$	—	$	—	$	—	$	46,650

Total commercial loans
Risk rating:
Pass	$	483,428	$	339,128	$	238,765	$	197,666	$	186,302	$	285,720	$	194,568	$	1,925,577
Special mention	—		21		438		17,061		1,288		3,760		3,864		26,432
Substandard	31		33		623		630		4,993		4,207		5,227		15,744
Doubtful	—		—		280		—		—		—		—		280
Loss	—		—		—		—		—		2		—		2
Total commercial loans	$	483,459	$	339,182	$	240,106	$	215,357	$	192,583	$	293,689	$	203,659	$	1,968,035

The following table presents the credit risk profile by risk grade for retail consumer loans by origination year:


	Term Loans By Origination Fiscal Year
June 30,	2021		2020		2019		2018		2017		Prior		Revolving		Total
One-to-four family
Risk rating:
Pass	$	72,723	$	52,987	$	46,958	$	40,461	$	37,361	$	143,531	$	4,345	$	398,366
Special mention	—		—		—		—		27		1,084		—		1,111
Substandard	246		981		—		216		86		5,037		—		6,566
Doubtful	—		—		—		—		—		191		—		191
Loss	—		—		—		—		—		315		—		315
Total one-to-four family	$	72,969	$	53,968	$	46,958	$	40,677	$	37,474	$	150,158	$	4,345	$	406,549

HELOCs - originated
Risk rating:
Pass	2,767		465		1,294		217		716		9,469		114,048		$	128,976
Special mention	—		—		—		—		—		12		—		12
Substandard	—		—		159		—		38		935		105		1,237
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total HELOCs - originated	$	2,767	$	465	$	1,453	$	217	$	754	$	10,416	$	114,153	$	130,225

HELOCs - purchased
Risk rating:
Pass	—		—		—		—		—		—		38,523		$	38,523
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		453		453
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total HELOCs - purchased	$	—	$	—	$	—	$	—	$	—	$	—	$	38,976	$	38,976

Construction and land/lots
Risk rating:
Pass	4,244		12,133		2,357		956		—		3,558		42,267		$	65,515
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		96		—		416		—		512
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total construction and land/lots	$	4,244	$	12,133	$	2,357	$	1,052	$	—	$	3,974	$	42,267	$	66,027

Indirect auto finance
Risk rating:
Pass	42,128		27,134		16,224		18,853		7,561		2,061		—		$	113,961
Special mention	—		—		—		—		—		—		—		—
Substandard	29		415		195		273		143		75		—		1,130
Doubtful	—		—		—		—		—		—		—		—
Loss	2		—		—		—		—		—		—		2
Total indirect auto finance	$	42,159	$	27,549	$	16,419	$	19,126	$	7,704	$	2,136	$	—	$	115,093

Consumer loans
Risk rating:
Pass	1,344		1,019		5,204		252		90		91		288		$	8,288
Special mention	—		—		—		14		—		—		—		14
Substandard	—		3		19		11		4		10		11		58
Doubtful	—		—		—		—		—		—		—		—
Loss	—		1		1		—		—		—		—		2
Total consumer loans	$	1,344	$	1,023	$	5,224	$	277	$	94	$	101	$	299	$	8,362

Total retail consumer loans
Risk rating:
Pass	$	123,206	$	93,738	$	72,037	$	60,739	$	45,728	$	158,710	$	199,471	$	753,629
Special mention	—		—		—		14		27		1,096		—		1,137
Substandard	275		1,399		373		596		271		6,473		569		9,956
Doubtful	—		—		—		—		—		191		—		191
Loss	2		1		1		—		—		315		—		319
Total retail consumer loans	$	123,483	$	95,138	$	72,411	$	61,349	$	46,026	$	166,785	$	200,040	$	765,232

The following tables present aging analysis of past due loans (includes nonaccrual loans) by segment and class for the periods indicated below:



	Past Due								Total
	30-89 Days		90 Days+		Total		Current		Loans
September 30, 2021
Commercial loans:
Commercial real estate	$	—	$	114	$	114	$	1,132,650	$	1,132,764
Construction and development	216		37		253		187,647		187,900
Commercial and industrial	67		562		629		152,983		153,612
Equipment finance	52		256		308		341,687		341,995
Municipal finance	405		—		405		141,695		142,100
PPP loans	—		—		—		28,762		28,762
Retail consumer loans:
One-to-four family	1,159		1,227		2,386		382,515		384,901
HELOCs - originated	65		317		382		129,409		129,791
HELOCs - purchased	200		—		200		33,743		33,943
Construction and land/lots	126		22		148		69,687		69,835
Indirect auto finance	170		139		309		105,875		106,184
Consumer	425		43		468		7,387		7,855
Total loans	$	2,885	$	2,717	$	5,602	$	2,714,040	$	2,719,642


	Past Due								Total
	30-89 Days		90 Days+		Total		Current		Loans
June 30, 2021
Commercial loans:
Commercial real estate	$	396	$	1,680	$	2,076	$	1,140,200	$	1,142,276
Construction and development	—		37		37		179,390		179,427
Commercial and industrial	634		19		653		140,688		141,341
Equipment finance	—		347		347		317,573		317,920
Municipal finance	—		—		—		140,421		140,421
PPP loans	—		—		—		46,650		46,650
Retail consumer loans:
One-to-four family	1,112		1,124		2,236		404,313		406,549
HELOCs - originated	290		186		476		129,749		130,225
HELOCs - purchased	198		79		277		38,699		38,976
Construction and land/lots	6		35		41		65,986		66,027
Indirect auto finance	299		259		558		114,535		115,093
Consumer	378		36		414		7,948		8,362
Total loans	$	3,313	$	3,802	$	7,115	$	2,726,152	$	2,733,267

The following table presents recorded investment in loans on nonaccrual status, by segment and class, including restructured loans. It also includes interest income recognized on nonaccrual loans for the three months ended September 30, 2021.


	September 30, 2021		June 30, 2021		90 Days + & still accruing as of September 30, 2021		Nonaccrual with no allowance as of September 30, 2021		Interest income recognized
Commercial loans:
Commercial real estate	$	1,576	$	7,015	$	—	$	—	$	12
Construction and development	388		482		—		—		2
Commercial and industrial	1,488		49		—		418		12
Equipment finance	334		630		—		255		—

Retail consumer loans:
One-to-four family	1,710		2,625		—		—		11
HELOCs - originated	445		476		—		—		2
HELOCs - purchased	453		453		—		—		8
Construction and land/lots	22		22		—		—		—
Indirect auto finance	274		438		—		—		2
Consumer	48		416		—		—		—






Total loans	$	6,738	$	12,606	$	—	$	673	$	49

The decrease in the nonaccrual balance in the above schedule, compared to June 30, 2021, is mainly due to the payoff of two commercial real estate loan relationships totaling $5.1 million.

TDRs are loans which have renegotiated loan terms to assist borrowers who are unable to meet the original terms of their loans. Such modifications to loan terms may include a lower interest rate, a reduction in principal, or a longer term to maturity.

The Company’s loans that were performing under the payment terms of TDRs that were excluded from nonaccruing loans above at the dates

indicated follows:


	September 30, 2021		June 30, 2021
Performing TDRs	$	11,341	$	11,088

The following table presents a breakdown of the provision (benefit) for credit losses included in our Consolidated Statements of Income:


		Three Months Ended
	September 30,
			2021		2020
Provision (benefit) for credit losses:
Loans			$	(1,335)	$	950
Off-balance-sheet credit exposure			(125)		—

Total provision (benefit) for credit losses			$	(1,460)	$	950

The following tables present analysis of the ACL on loans by segment for the periods indicated below:


	Three Months Ended
	September 30, 2021
		Commercial		Retail Consumer		Total
Balance at beginning of period		$	24,746	$	10,722	$	35,468

Benefit for credit losses		(623)		(712)		(1,335)
Charge-offs		(619)		(90)		(709)
Recoveries		700		282		982
Net recoveries		81		192		273
Balance at end of period		$	24,204	$	10,202	$	34,406


	Three Months Ended
	September 30, 2020
	Commercial		Retail Consumer		Total
Balance at beginning of period	$	21,116	$	6,956	$	28,072
Impact of adoption ASU 2016-13	4,073		10,736		14,809
Provision for credit losses	292		658		950
Charge-offs	(1,095)		(682)		(1,777)
Recoveries	813		265		1,078
Net charge-offs	(282)		(417)		(699)
Balance at end of period	$	25,199	$	17,933	43,132

The following tables present ending balances of loans and the related ACL, by segment and class for the periods indicated below:


	Allowance for Credit Losses						Total Loans Receivable
	Loans Individually Evaluated		Loans Collectively Evaluated		Total		Loans Individually Evaluated		Loans Collectively Evaluated		Total
September 30, 2021
Commercial loans:
Commercial real estate	$	9	$	12,209	$	12,218	$	299	$	1,132,465	$	1,132,764
Construction and development	—		1,776		1,776		—		187,900		187,900
Commercial and industrial	525		2,682		3,207		2,048		151,564		153,612
Equipment finance	—		6,714		6,714		255		341,740		341,995
Municipal finance	—		289		289		—		142,100		142,100
PPP loans	—		—		—		—		28,762		28,762
Retail consumer loans:
One-to-four family	3		5,018		5,021		1,969		382,932		384,901
HELOCs - originated	—		1,430		1,430		—		129,791		129,791
HELOCs - purchased	—		374		374		—		33,943		33,943
Construction and land/lots	—		776		776		—		69,835		69,835
Indirect auto finance	—		2,444		2,444		—		106,184		106,184
Consumer	—		157		157		—		7,855		7,855
Total	$	537	$	33,869	$	34,406	$	4,571	$	2,715,071	$	2,719,642


	Allowance for Loan Losses						Total Loans Receivable
	Loans Individually Evaluated		Loans Collectively Evaluated		Total		Loans Individually Evaluated		Loans Collectively Evaluated		Total
June 30, 2021
Commercial loans:
Commercial real estate	$	456	$	12,826	$	13,282	$	5,729	$	1,136,547	$	1,142,276
Construction and development	—		1,801		1,801		80		179,347		179,427
Commercial and industrial	9		2,583		2,592		760		140,581		141,341
Equipment finance	—		6,537		6,537		275		317,645		317,920
Municipal finance	—		534		534		—		140,421		140,421
PPP loans	—		—		—		—		46,650		46,650
Retail consumer loans:
One-to-four family	2		5,407		5,409		1,977		404,572		406,549
HELOCs - originated	—		1,512		1,512		—		130,225		130,225
HELOCs - purchased	—		452		452		—		38,976		38,976
Construction and land/lots	—		812		812		—		66,027		66,027
Indirect auto finance	—		2,367		2,367		—		115,093		115,093
Consumer	—		170		170		—		8,362		8,362
Total	$	467	$	35,001	$	35,468	$	8,821	$	2,724,446	$	2,733,267

In estimating ECL, ASC 326 prescribes that if foreclosure is probable, a CDA is required to be measured at the fair value of collateral, but as a practical expedient, if foreclosure is not probable, fair value measurement is optional. For those CDA loans measured at the fair value of collateral, a credit loss expense is recorded for loan amounts in excess of fair value. The following tables provide a breakdown between loans identified as CDAs and non-CDAs, by segment and class, and securing collateral, as well as collateral coverage for those loans for the periods indicated below:


	Type of Collateral and Extent to Which Collateral Secures Financial Assets
September 30, 2021	Residential Property		Investment Property		Commercial Property		Business Assets		Financial Assets Not Considered Collateral Dependent		Total

Commercial loans:
Commercial real estate	$	—	$	—	$	299	$	—	$	1,132,465	$	1,132,764
Construction and development	—		—		—		—		187,900		187,900
Commercial and industrial	—		—		—		494		153,118		153,612
Equipment finance	—		—		—		—		341,995		341,995
Municipal finance	—		—		—		—		142,100		142,100
PPP loans	—		—		—		—		28,762		28,762
Retail consumer loans:
One-to-four family	799		—		—		—		384,102		384,901
HELOCs - originated	—		—		—		—		129,791		129,791
HELOCs - purchased	—		—		—		—		33,943		33,943
Construction and land/lots	—		—		—		—		69,835		69,835
Indirect auto finance	—		—		—		—		106,184		106,184
Consumer	—		—		—		—		7,855		7,855
Total	$	799	$	—	$	299	$	494	$	2,718,050	$	2,719,642
Total Collateral Value	$	1,160	$	—	$	288	$	—


	Type of Collateral and Extent to Which Collateral Secures Financial Assets
June 30, 2021	Residential Property		Investment Property		Commercial Property		Business Assets		Financial Assets Not Considered Collateral Dependent		Total

Commercial loans:
Commercial real estate	$	—	$	3,421	$	2,308	$	—	$	1,136,547	$	1,142,276
Construction and development	—		80		—		—		179,347		179,427
Commercial and industrial	—		—		—		25		141,316		141,341
Equipment finance	—		—		—		—		317,920		317,920
Municipal finance	—		—		—		—		140,421		140,421
PPP loans	—		—		—		—		46,650		46,650
Retail consumer loans:
One-to-four family	807		—		—		—		405,742		406,549
HELOCs - originated	—		—		—		—		130,225		130,225
HELOCs - purchased	—		—		—		—		38,976		38,976
Construction and land/lots	—		—		—		—		66,027		66,027
Indirect auto finance	—		—		—		—		115,093		115,093
Consumer	—		—		—		—		8,362		8,362
Total	$	807	$	3,501	$	2,308	$	25	$	2,726,626	$	2,733,267
Total Collateral Value	$	1,160	$	3,602	$	2,723	$	26

The following table presents a breakdown of the types of concessions made on TDRs by loan class for the period indicated below:


	Three Months Ended September 30,
	2021					2020
	Number of Loans	Pre Modification Outstanding Recorded Investment		Post Modification Outstanding Recorded Investment		Number of Loans	Pre Modification Outstanding Recorded Investment		Post Modification Outstanding Recorded Investment


















Other TDRs:
Commercial:


Commercial and industrial	—	—		—		1	4,407		3,800
Retail consumer:

HELOCs - originated	1	18		18		—	—		—

Indirect auto finance	5	84		83		6	105		78


Total	6	$	102	$	101	7	$	4,512	$	3,878

The following table presents loans that were modified as TDRs within the previous 12 months and for which there was a payment default during the periods indicated below:


	Three Months Ended September 30, 2021		Three Months Ended September 30, 2020
		Number of Loans	Recorded Investment		Number of Loans	Recorded Investment








Other TDRs:
Retail consumer:


Indirect auto finance		2	44		1	11




Total		2	$	44	—	$	11

Other TDRs include TDRs that have a below market interest rate and extended payment terms. The Company does not typically forgive principal when restructuring troubled debt.

In determining the ACL, management considers TDRs for all loan classes, and the subsequent nonperformance in accordance with their modified terms, by measuring a reserve on a loan-by-loan basis based on either the value of the loan's expected future cash flows discounted at the loan's original effective interest rate or on the collateral value, net of the estimated costs of disposal, if the loan is collateral dependent.

Off-Balance-Sheet Credit Exposure

The Company maintains a separate reserve for credit losses on off-balance-sheet credit exposures, including unfunded loan commitments, which is included in other liabilities on the consolidated balance sheet. The reserve for credit losses on off-balance-sheet credit exposures is adjusted as a provision for credit losses in the consolidated statement of income. The estimate includes consideration of the likelihood that funding will occur and an estimate of ECLs on commitments expected to be funded over its estimated life, utilizing the same models and approaches for the Company's other loan portfolio segments described above, as these unfunded commitments share similar risk characteristics as its loan portfolio segments. The Company has identified the unfunded portion of certain lines of credit as unconditionally cancellable credit exposures, meaning the Company can cancel the unfunded commitment at any time. No credit loss estimate is reported for off-balance-sheet credit exposures that are unconditionally cancellable by the Company or for undrawn amounts under such arrangements that may be drawn prior to the cancellation of the arrangement. At September 30, 2021, the liability for credit losses on off-balance-sheet credit exposures included in other liabilities was $2,198.

Modifications in Response to COVID-19

Beginning in March 2020, the Company began offering short-term loan modifications to assist borrowers during the COVID-19 pandemic. The CARES Act along with a joint agency statement issued by banking agencies and confirmed by FASB staff that short-term modifications made in response to COVID-19 are not considered TDRs.

The Bank is offering payment and financial relief programs for borrowers impacted by COVID-19. These programs include loan payment deferrals for up to 90 days (which can be renewed for another 90 days under certain circumstances) waived late fees, and suspension of foreclosure proceedings and repossessions. Since March 2020, the Company has received numerous requests from borrowers for some type of payment relief; however, the majority of these payment deferrals have ended and borrowers are again making regular loan payments.

As of September 30, 2021, the Company had $1,003 in loans with full principal and interest payment deferrals related to COVID-19 compared to $107 at June 30, 2021. Substantially all loans placed on full payment deferral during the pandemic have come out of deferral and borrowers are either making regular loan payments or interest-only payments through the end of calendar year 2021. As of September 30, 2021, the Company had $67,810 in commercial loan deferrals on interest-only payments compared to $78,850 at June 30, 2021.

Net Income per Share

3 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Net Income per Share

Net Income per ShareThe following is a reconciliation of the numerator and denominator of basic and diluted net income per share of common stock as of the dates indicated:


	Three Months Ended September 30,
		2021		2020
Numerator:
Net income		$	10,527	$	5,753
Allocation of earnings to participating securities		(92)		(50)
Numerator for basic EPS - Net income available to common stockholders		$	10,435	$	5,703
Effect of dilutive securities:
Dilutive effect to participating securities		2		6
Numerator for diluted EPS		$	10,437	$	5,709
Denominator:
Weighted-average common shares outstanding - basic		15,761,247		16,230,990
Effect of dilutive shares		385,364		238,252
Weighted-average common shares outstanding - diluted		16,146,611		16,469,242
Net income per share - basic		$	0.66	$	0.35
Net income per share - diluted		$	0.65	$	0.35

Potential dilutive shares are excluded from the computation of earnings per share if their effect is anti-dilutive. There were 446,250 stock options that were anti-dilutive for the three months ended September 30, 2021, respectively. There were 573,900 stock options that were anti-dilutive for the three months ended September 30, 2020, respectively.

Equity Incentive Plan

3 Months Ended

Sep. 30, 2021

Equity Incentive Plan

The Company provides stock-based awards through the 2013 Omnibus Incentive Plan, which provides for awards of restricted stock, restricted stock units, stock options, stock appreciation rights and cash awards to directors, directors emeritus, officers, employees and advisory directors. The cost of equity-based awards under the 2013 Omnibus Incentive Plan generally is based on the fair value of the awards on their grant date. The maximum number of shares that may be utilized for awards under the plan is 2,962,400, including 2,116,000 for stock options and stock appreciation rights and 846,400 for awards of restricted stock and restricted stock units. Shares of common stock issued under the plan would be issued out of authorized but unissued shares, some or all of which may be repurchased shares. The Company repurchased all 846,400 shares on the open market for issuance under the 2013 Omnibus Incentive Plan, for $13,297, at an average cost of $15.71 per share during the year ended June 30, 2013.

The table below presents share-based compensation expense and the estimated related tax benefit for stock options and restricted stock for the three months ended September 30, 2021 and 2020, respectively:


	Three Months Ended September 30,
		2021		2020
Share-based compensation expense		$	415	$	506
Tax benefit		$	98	$	119

The table below presents stock option activity and related information:


	Options	Weighted- Average Exercise Price		Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Options outstanding at June 30, 2020	1,615,500	$	18.12	4.4	$	1,711



Forfeited	200	24.95		—	—

Options outstanding at September 30, 2020	1,615,300	$	18.12	4.1	$	—
Exercisable at September 30, 2020	1,303,000	$	16.31	3.3	$	—
Non-vested at September 30, 2020	312,300	$	25.68	7.6	$	—

Options outstanding at June 30, 2021	1,319,456	$	19.07	3.9	$	11,657


Exercised	46,200	15.16		—	—
Forfeited	2,600	25.42		—	—

Options outstanding at September 30, 2021	1,270,656	$	19.19	3.7	$	11,164
Exercisable at September 30, 2021	1,030,506	$	17.75	2.9	$	10,546
Non-vested at September 30, 2021	240,150	$	25.41	7.3	$	617

There were no options granted during the three months ended September 30, 2021 and 2020.

At September 30, 2021, the Company had $1,083 of unrecognized compensation expense related to 240,150 stock options originally scheduled to vest over a five-year vesting period. The weighted average period over which compensation cost related to non-vested awards expected to be recognized was 1.4 years at September 30, 2021. At September 30, 2020, the Company had $1,535 of unrecognized compensation expense related to 312,300 stock options originally scheduled to vest over a five-year vesting period. The weighted average period over which compensation cost related to non-vested awards expected to be recognized was 1.5 years at September 30, 2020.

The table below presents restricted stock award activity and related information:


	Restricted Stock Awards	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Non-vested at June 30, 2020	144,046	$	25.89	$	2,305

Vested	2,600	25.37		—
Forfeited	200	24.95		—
Non-vested at September 30, 2020	141,246	$	25.90	$	1,918

Non-vested at June 30, 2021	151,575	$	25.06	$	4,229

Vested	8,918	26.93		—
Forfeited	3,000	26.31		—
Non-vested at September 30, 2021	139,657	$	25.00	$	3,908

The table above includes non-vested performance-based restricted stock units totaling 23,662 and 16,440 at September 30, 2021 and 2020, respectively. Each issuance of these stock units is scheduled to vest over 3.0 years assuming certain performance metrics are met. In addition, the 8,918 vested shares reflected above includes a total of 7,118 performance-based restricted stock units which vested during the three months ended September 30, 2021.

At September 30, 2021, unrecognized compensation expense was $2,483 related to 139,657 shares of restricted stock originally scheduled to vest over three- and five-year vesting periods. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 1.5 years at September 30, 2021. At September 30, 2020, unrecognized compensation expense was $2,715 related to 141,246 shares of restricted stock originally scheduled to vest over three- and five-year vesting periods. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 1.6 years at September 30, 2020.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Loan Commitments – Legally binding commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. In the normal course of business, there are various outstanding commitments to extend credit that are not reflected in the consolidated financial statements. At September 30, 2021 and June 30, 2021, respectively, loan commitments (excluding $205,848 and $277,600 of undisbursed portions of construction loans) totaled $83,616 and $123,463 of which $12,636 and $45,270 were variable rate commitments and $70,980 and $78,193 were fixed rate commitments. The fixed rate loans had interest rates ranging from 1.41% to 9.75% at September 30, 2021 and 2.50% to 8.36% at June 30, 2021, and terms ranging from three to 30 years. Pre-approved but unused lines of credit (principally second mortgage home equity loans and overdraft protection loans) totaled $571,362 and $530,505 at September 30, 2021 and June 30, 2021, respectively. These amounts represent the Company's exposure to credit risk, and in the opinion of management have no more than the normal lending risk that the Company commits to its borrowers. The Company has two types of commitments related to certain one-to-four family loans held for sale: rate lock commitments and forward loan commitments. Rate lock commitments are commitments to extend credit to a customer that has an interest rate lock and are considered derivative instruments. The rate lock commitments do not qualify for hedge accounting. In order to mitigate the risk from interest rate fluctuations, the Company enters into forward loan sale commitments on a “best efforts” basis, which do not meet the definition of a derivative instrument. The fair value of these interest rate lock commitments was not material at September 30, 2021 or June 30, 2021. The Company grants construction and permanent loans collateralized primarily by residential and commercial real estate to customers throughout its primary market areas. In addition, the Company grants equipment financing throughout the United States and municipal financing to customers throughout North and South Carolina. The Company’s loan portfolio can be affected by the general economic conditions within these market areas. Management believes that the Company has no significant concentration of credit in the loan portfolio. Restrictions on Cash – In response to COVID-19, the FRB reduced the reserve requirements to zero on March 15, 2020. Prior to this change the Bank was required by regulation to maintain a varying cash reserve balance with the FRB. Guarantees – Standby letters of credit obligate the Company to meet certain financial obligations of its customers, if, under the contractual terms of the agreement, the customers are unable to do so. The financial standby letters of credit issued by the Company are irrevocable and payment is only guaranteed upon the borrower's failure to perform its obligations to the beneficiary. Total commitments under standby letters of credit as of September 30, 2021 and June 30, 2021 were $9,671 and $8,681, respectively. There was no liability recorded for these letters of credit at September 30, 2021 or June 30, 2021, respectively. Litigation – From time to time, the Company is involved in litigation matters in the ordinary course of business. These proceedings and the associated legal claims are often contested, and the outcome of individual matters is not always predictable. These claims and counter claims typically arise during the course of collection efforts on problem loans or with respect to actions to enforce liens on properties in which the Company holds a security interest. The Company is not a party to any pending legal proceedings that management believes would have a material adverse effect on the Company’s financial condition or results of operations.

Fair Value of Financial Instruments

3 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The Company utilizes fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Debt securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. The Company measures the fair value of loans receivable under the exit price notion. The fair value of nonperforming loans is based on the underlying value of the collateral.

Fair Value Hierarchy

The Company groups assets at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are:

Level 1: Valuation is based upon quoted prices for identical instruments traded in active markets.

Level 2: Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market.

Level 3: Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques.

Following is a description of valuation methodologies used for assets recorded at fair value. The Company does not have any liabilities recorded at fair value.

Debt Securities Available for Sale

Debt securities available for sale are valued on a recurring basis at quoted market prices where available. If quoted market prices are not available, fair values are based on quoted prices of comparable securities. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange or U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include MBS and debentures issued by GSEs, municipal bonds, and corporate debt securities. The Company has no Level 3 securities.

Loans Held for Sale

Loans held for sale are adjusted to lower of cost or fair value. Fair value is based on commitments on hand from investors or, if commitments have not yet been obtained, what investors are currently offering for loans with similar characteristics. The Company considers all loans held for sale carried at fair value as nonrecurring Level 3.

Individually Evaluated Loans

The Company does not record loans at fair value on a recurring basis. From time to time, however, a loan is individually evaluated and an allowance for credit loss is established. Loans for which it is expected that payment of principal and interest will not be made in accordance with the contractual terms of the loan agreement are individually evaluated. Once a loan is identified, the fair value is estimated using one of two ways, which include collateral value and discounted cash flows. The Company reviews all individually evaluated loans each quarter to determine if an allowance is necessary. Those individually evaluated loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans.

Loans are considered collateral dependent if repayment is expected solely from the collateral. For these collateral dependent loans, the Company obtains updated appraisals at least annually. These appraisals are reviewed for appropriateness and then discounted for estimated closing costs to determine if an allowance is necessary. As part of the quarterly review of individually evaluated loans, the Company reviews these appraisals to determine if any additional discounts to the fair value are necessary. If a current appraisal is not obtained, the Company determines whether a discount is needed to the value from the original appraisal based on the decline in value of similar properties with recent appraisals. For loans that are not collateral dependent, estimated fair value is based on the present value of expected future cash flows using the interest rate implicit in the original agreement. Individually evaluated loans where a charge-off has occurred or an allowance is established during the period being reported require classification in the fair value hierarchy. The Company records such loans as a nonrecurring Level 3 in the fair value hierarchy.

Real Estate Owned

REO is considered held for sale and is adjusted to fair value less estimated selling costs upon transfer of the loan to foreclosed assets. Fair value is based upon independent market prices, appraised value of the collateral or management's estimation of the value of the collateral. The Company considers all REO that has been charged off or received an allowance during the period as nonrecurring Level 3.

Financial Assets Recorded at Fair Value on a Recurring Basis

The following table presents financial assets measured at fair value on a recurring basis at the dates indicated:


	September 30, 2021
	Total		Level 1		Level 2		Level 3
U.S government agencies	$	19,101	$	—	$	19,101	$	—
Residential MBS of U.S. government agencies and GSEs	41,458		—		41,458		—
Municipal bonds	7,836		—		7,836		—
Corporate bonds	56,181		—		56,181		—

Total	$	124,576	$	—	$	124,576	$	—


	June 30, 2021
	Total		Level 1		Level 2		Level 3
U.S government agencies	$	19,073	$	—	$	19,073	$	—
Residential MBS of U.S. government agencies and GSEs	43,404		—		43,404		—
Municipal bonds	9,551		—		9,551		—
Corporate bonds	84,431		—		84,431		—

Total	$	156,459	$	—	$	156,459	$	—

There were no transfers between levels during the three months ended September 30, 2021 and 2020.

The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated:


	September 30, 2021
	Total		Level 1		Level 2		Level 3
Individually evaluated loans	$	4,034	$	—	$	—	$	4,034


	June 30, 2021
	Total		Level 1		Level 2		Level 3
Individually evaluated loans	$	8,354	$	—	$	—	$	8,354

Quantitative information about Level 3 fair value measurements during the periods ended September 30, 2021 and June 30, 2021 is shown in the tables below:

Fair Value at September 30, 2021

Valuation
Techniques

Unobservable
Input

Range

Weighted
Average

Nonrecurring measurements:

Individually evaluated loans

4,034

Discounted appraisals and discounted cash flows

Collateral discounts: Discount spread:

6% - 100%

Fair Value at June 30, 2021

Valuation
Techniques

Unobservable
Input

Range

Weighted
Average

Nonrecurring measurements:

Individually evaluated loans

8,354

Discounted appraisals and discounted cash flows

Collateral discounts: Discount spread:

0% - 52%

0% - 7%

The stated carrying value and estimated fair value amounts of financial instruments as of September 30, 2021 and June 30, 2021, are summarized below:


	September 30, 2021
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	42,573	$	42,573	$	42,573	$	—	$	—
Commercial paper	196,652		196,652		196,652		—		—
Certificates of deposit in other banks	35,495		35,495		—		35,495		—
Debt securities available for sale	124,576		124,576		—		124,576		—
Loans held for sale	105,161		107,972		—		—		107,972
Loans, net	2,685,236		2,656,263		—		—		2,656,263
FHLB stock	2,965		2,965		2,965		—		—
FRB stock	7,395		7,395		7,395		—		—
SBIC investments	10,531		10,531		—		—		10,531
Accrued interest receivable	8,429		8,429		—		611		7,818
Liabilities:
Noninterest-bearing and NOW deposits	1,333,439		1,333,439		—		1,333,439		—
Money market accounts	987,650		621,675		—		621,675		—
Savings accounts	220,614		220,614		—		220,614		—
Certificates of deposit	445,581		446,540		—		446,540		—
Borrowings	40,000		40,000		—		40,000		—
Accrued interest payable	50		50		—		50		—


	June 30, 2021
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	50,990	$	50,990	$	50,990	$	—	$	—
Commercial paper	189,596		189,596		189,596		—		—
Certificates of deposit in other banks	40,122		40,122		—		40,122		—
Debt securities available for sale	156,459		156,459		—		156,459		—
Loans held for sale	93,539		94,779		—		—		94,779
Loans, net	2,697,799		2,668,570		—		—		2,668,570
FHLB stock	6,153		6,153		6,153		—		—
FRB stock	7,386		7,386		7,386		—		—
SBIC investments	10,171		10,171		—		—		10,171
Accrued interest receivable	7,933		7,933		52		542		7,339
Liabilities:
Noninterest-bearing and NOW deposits	1,281,372		1,281,372		—		1,281,372		—
Money market accounts	975,001		975,001		—		975,001		—
Savings accounts	226,391		226,391		—		226,391		—
Certificates of deposit	472,777		474,397		—		474,397		—
Borrowings	115,000		115,000		—		115,000		—
Accrued interest payable	52		52		—		52		—

The Company had off-balance sheet financial commitments, which included approximately $860,826 and $931,568 of commitments to originate loans, undisbursed portions of interim construction loans, and unused lines of credit at September 30, 2021 and June 30, 2021, respectively (see "Note 9 – Commitments and Contingencies"). Since these commitments are based on current rates, the carrying amount approximates the fair value.

Estimated fair values were determined using the following methods and assumptions:

Cash and interest-bearing deposits – The stated amounts approximate fair values as maturities are less than 90 days.

Commercial paper – The stated amounts approximate fair value due to the short-term nature of these investments.

Certificates of deposit in other banks – The stated amounts approximate fair values.

Debt securities available for sale – Fair values are based on quoted market prices where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments.

Loans held for sale – The fair value of mortgage loans held for sale is determined by outstanding commitments from investors on a "best efforts" basis or current investor yield requirements, calculated on the aggregate loan basis. The fair value of SBA loans and HELOCs held for sale is based on what investors are currently offering for loans with similar characteristics.

Loans, net – Fair values for loans are estimated by segregating the portfolio by type of loan and discounting scheduled cash flows using current market interest rates for loans with similar terms and credit quality. A prepayment assumption is used as an estimate of the portion of loans that will be repaid prior to their scheduled maturity. A liquidity premium assumption is used as an estimate for the additional return required by an investor of assets that are potentially considered illiquid.

FHLB and FRB stock – No ready market exists for these stocks and they have no quoted market value. However, redemptions of these stocks have historically been at par value. Accordingly, cost is deemed to be a reasonable estimate of fair value.

SBIC investments – No ready market exists for these investments and they have no quoted market value. SBIC investments are valued at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions of identical or similar investments. Accordingly, cost is deemed to be a reasonable estimate of fair value.

Deposits – Fair values for demand deposits, money market accounts, and savings accounts are the amounts payable on demand as of September 30, 2021 and June 30, 2021. The fair value of certificates of deposit is estimated by discounting the contractual cash flows using current market interest rates for accounts with similar maturities.

Borrowings – The fair value of advances from the FHLB is estimated based on current rates for borrowings with similar terms.

Accrued interest receivable and payable – The stated amounts of accrued interest receivable and payable approximate the fair value.

Limitations – Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company's entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company's 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 and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates.

Fair value estimates are based on existing on-and-off balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For example, a significant asset not considered a financial asset is premises and equipment. In addition, tax 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.

Leases

3 Months Ended

Sep. 30, 2021

Leases [Abstract]

As Lessee - Operating Leases

The Company's operating leases primarily include office space and bank branches. Certain leases include one or more options to renew, with renewal terms that can extend the lease term up to 15 additional years. The exercise of lease renewal options is at management's sole discretion. When it is reasonably certain that the Company will exercise its option to renew or extend the lease term, that option is included in estimating the value of the ROU and lease liability. At September 30, 2021, there were no leases awaiting commencement. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Most of the Company's lease agreements include periodic rate adjustments for inflation. The depreciable life of ROU assets and leasehold improvements are limited to the shorter of the useful life or the expected lease term. Leases with an initial term of 12 months or less are not recorded on the Company's Consolidated Balance Sheets. The Company recognizes lease expenses for these leases over the lease term.

The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities.



Supplemental Balance Sheet Information:	September 30, 2021			June 30, 2021
ROU assets	$	6,103		$	5,498

Lease liabilities	$	6,852		$	5,926

Weighted-average remaining lease terms (years)	9.70			9.49
Weighted-average discount rate	3.15		%	3.18		%

The following schedule summarizes aggregate future minimum lease payments under these operating leases at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	1,100
2023	1,479
2024	1,010
2025	630
2026	512
Thereafter	3,218
Total of future minimum payments	$	7,949

The following table presents components of operating lease expense for the three months ended September 30, 2021 and 2020:


	Three Months Ended September 30,
		2021		2020
Operating lease cost (included in occupancy expense)		$	484	$	439
Sublease income (included in other, net noninterest income)		(51)		(61)
Total operating lease expense, net		$	433	$	378

As Lessee - Finance Lease

The Company currently leases land for one of its branch office locations under a finance lease. The ROU asset for the finance lease totaled $2,052 at September 30, 2021 and June 30, 2021 and is included in other assets. The corresponding lease liability totaled $1,793 and $1,804 at September 30, 2021 and June 30, 2021, respectively, and is included in other liabilities. For the three months ended September 30, 2021 and September 30, 2020, interest expense on the lease liability totaled $23 and $24, respectively. The finance lease has a maturity date of July 2028 and a discount rate of 5.18%.

The following schedule summarizes aggregate future minimum lease payments under this finance lease obligation at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	100
2023	134
2024	145
2025	146
2026	146
Thereafter	1,702
Total minimum lease payments	2,373
Less: amount representing interest	(580)
Present value of net minimum lease payments	$	1,793

Supplemental lease cash flow information for the three months ended September 30, 2021 and 2020:


	Three Months Ended September 30,
	2021		2020
ROU assets - noncash additions (operating leases)	$	959	$	533

Cash paid for amounts included in the measurement of lease liabilities (operating leases)	628		524
Cash paid for amounts included in the measurement of lease liabilities (finance leases)	33		33

As Lessor - General

The Company leases equipment to commercial end users under operating and finance lease arrangements. The Company's equipment finance leases consist mainly of construction, transportation, medical, and manufacturing equipment. Many of its operating and finance leases offer the lessee the option to purchase the equipment at fair value or for a nominal fixed purchase option; and most of the leases that do not have a nominal purchase option include renewal provisions resulting in some leases continuing beyond initial contractual terms. The Company's leases do not include early termination options, and continued rent payments are due if leased equipment is not returned at the end of the lease.

As Lessor - Operating Leases

Operating lease income is recognized as a component of noninterest income on a straight-line basis over the lease term. Lease terms range from 1 to 5 years. Assets related to operating leases are included in other assets and the corresponding depreciation expense is recorded on a straight-line basis as a component of other noninterest expense. The net book value of leased assets totaled $24,821 and $25,932 with a residual value of $14,693 and $15,330 as of September 30, 2021 and June 30, 2021, respectively.

The following schedule summarizes aggregate future minimum operating lease payments to be received at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	4,734
2023	4,671
2024	2,569
2025	722
2026	246
Thereafter	13
Total of future minimum payments	$	12,955

As Lessor - Finance Leases

Finance lease income is recognized as a component of loan interest income over the lease term. The finance leases are included as a component of the equipment finance class of financing receivables under the commercial loan segment. For the three months ended September 30, 2021 and 2020, total interest income on equipment finance leases totaled $759 and $530, respectively.

The following table presents components of finance lease net investment included within equipment finance class of financing receivables:


	September 30, 2021		June 30, 2021
Lease receivables	$	63,741	$	63,279

The following schedule summarizes aggregate future minimum finance lease payments to be received at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	14,928
2023	19,076
2024	16,036
2025	10,862
2026	6,437
Thereafter	2,791
Total minimum payments	70,130
Less: amount representing interest	(6,389)
Total	$	63,741

As Lessee - Operating Leases

The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities.



Supplemental Balance Sheet Information:	September 30, 2021			June 30, 2021
ROU assets	$	6,103		$	5,498

Lease liabilities	$	6,852		$	5,926

Weighted-average remaining lease terms (years)	9.70			9.49
Weighted-average discount rate	3.15		%	3.18		%

The following schedule summarizes aggregate future minimum lease payments under these operating leases at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	1,100
2023	1,479
2024	1,010
2025	630
2026	512
Thereafter	3,218
Total of future minimum payments	$	7,949

The following table presents components of operating lease expense for the three months ended September 30, 2021 and 2020:


	Three Months Ended September 30,
		2021		2020
Operating lease cost (included in occupancy expense)		$	484	$	439
Sublease income (included in other, net noninterest income)		(51)		(61)
Total operating lease expense, net		$	433	$	378

As Lessee - Finance Lease

The following schedule summarizes aggregate future minimum lease payments under this finance lease obligation at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	100
2023	134
2024	145
2025	146
2026	146
Thereafter	1,702
Total minimum lease payments	2,373
Less: amount representing interest	(580)
Present value of net minimum lease payments	$	1,793

Supplemental lease cash flow information for the three months ended September 30, 2021 and 2020:


	Three Months Ended September 30,
	2021		2020
ROU assets - noncash additions (operating leases)	$	959	$	533

Cash paid for amounts included in the measurement of lease liabilities (operating leases)	628		524
Cash paid for amounts included in the measurement of lease liabilities (finance leases)	33		33

As Lessor - General

As Lessor - Operating Leases

The following schedule summarizes aggregate future minimum operating lease payments to be received at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	4,734
2023	4,671
2024	2,569
2025	722
2026	246
Thereafter	13
Total of future minimum payments	$	12,955

As Lessor - Finance Leases

The following table presents components of finance lease net investment included within equipment finance class of financing receivables:


	September 30, 2021		June 30, 2021
Lease receivables	$	63,741	$	63,279

The following schedule summarizes aggregate future minimum finance lease payments to be received at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	14,928
2023	19,076
2024	16,036
2025	10,862
2026	6,437
Thereafter	2,791
Total minimum payments	70,130
Less: amount representing interest	(6,389)
Total	$	63,741

As Lessee - Operating Leases

The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities.



Supplemental Balance Sheet Information:	September 30, 2021			June 30, 2021
ROU assets	$	6,103		$	5,498

Lease liabilities	$	6,852		$	5,926

Weighted-average remaining lease terms (years)	9.70			9.49
Weighted-average discount rate	3.15		%	3.18		%

The following schedule summarizes aggregate future minimum lease payments under these operating leases at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	1,100
2023	1,479
2024	1,010
2025	630
2026	512
Thereafter	3,218
Total of future minimum payments	$	7,949

The following table presents components of operating lease expense for the three months ended September 30, 2021 and 2020:


	Three Months Ended September 30,
		2021		2020
Operating lease cost (included in occupancy expense)		$	484	$	439
Sublease income (included in other, net noninterest income)		(51)		(61)
Total operating lease expense, net		$	433	$	378

As Lessee - Finance Lease

The following schedule summarizes aggregate future minimum lease payments under this finance lease obligation at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	100
2023	134
2024	145
2025	146
2026	146
Thereafter	1,702
Total minimum lease payments	2,373
Less: amount representing interest	(580)
Present value of net minimum lease payments	$	1,793

Supplemental lease cash flow information for the three months ended September 30, 2021 and 2020:


	Three Months Ended September 30,
	2021		2020
ROU assets - noncash additions (operating leases)	$	959	$	533

Cash paid for amounts included in the measurement of lease liabilities (operating leases)	628		524
Cash paid for amounts included in the measurement of lease liabilities (finance leases)	33		33

As Lessor - General

As Lessor - Operating Leases

The following schedule summarizes aggregate future minimum operating lease payments to be received at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	4,734
2023	4,671
2024	2,569
2025	722
2026	246
Thereafter	13
Total of future minimum payments	$	12,955

As Lessor - Finance Leases

The following table presents components of finance lease net investment included within equipment finance class of financing receivables:


	September 30, 2021		June 30, 2021
Lease receivables	$	63,741	$	63,279

The following schedule summarizes aggregate future minimum finance lease payments to be received at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	14,928
2023	19,076
2024	16,036
2025	10,862
2026	6,437
Thereafter	2,791
Total minimum payments	70,130
Less: amount representing interest	(6,389)
Total	$	63,741

Investments, Debt and Equity Securities [Abstract]

As Lessee - Operating Leases

The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities.



Supplemental Balance Sheet Information:	September 30, 2021			June 30, 2021
ROU assets	$	6,103		$	5,498

Lease liabilities	$	6,852		$	5,926

Weighted-average remaining lease terms (years)	9.70			9.49
Weighted-average discount rate	3.15		%	3.18		%

The following schedule summarizes aggregate future minimum lease payments under these operating leases at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	1,100
2023	1,479
2024	1,010
2025	630
2026	512
Thereafter	3,218
Total of future minimum payments	$	7,949

The following table presents components of operating lease expense for the three months ended September 30, 2021 and 2020:


	Three Months Ended September 30,
		2021		2020
Operating lease cost (included in occupancy expense)		$	484	$	439
Sublease income (included in other, net noninterest income)		(51)		(61)
Total operating lease expense, net		$	433	$	378

As Lessee - Finance Lease

The following schedule summarizes aggregate future minimum lease payments under this finance lease obligation at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	100
2023	134
2024	145
2025	146
2026	146
Thereafter	1,702
Total minimum lease payments	2,373
Less: amount representing interest	(580)
Present value of net minimum lease payments	$	1,793

Supplemental lease cash flow information for the three months ended September 30, 2021 and 2020:


	Three Months Ended September 30,
	2021		2020
ROU assets - noncash additions (operating leases)	$	959	$	533

Cash paid for amounts included in the measurement of lease liabilities (operating leases)	628		524
Cash paid for amounts included in the measurement of lease liabilities (finance leases)	33		33

As Lessor - General

As Lessor - Operating Leases

The following schedule summarizes aggregate future minimum operating lease payments to be received at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	4,734
2023	4,671
2024	2,569
2025	722
2026	246
Thereafter	13
Total of future minimum payments	$	12,955

As Lessor - Finance Leases

The following table presents components of finance lease net investment included within equipment finance class of financing receivables:


	September 30, 2021		June 30, 2021
Lease receivables	$	63,741	$	63,279

The following schedule summarizes aggregate future minimum finance lease payments to be received at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	14,928
2023	19,076
2024	16,036
2025	10,862
2026	6,437
Thereafter	2,791
Total minimum payments	70,130
Less: amount representing interest	(6,389)
Total	$	63,741

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Accounting	The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the SEC. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. It is recommended that these unaudited interim consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended June 30, 2021 ("2021 Form 10-K") filed with the SEC on September 10, 2021. The results of operations for the three months ended September 30, 2021 are not necessarily indicative of results that may be expected for the entire fiscal year ending June 30, 2022.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company's accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions, and other subjective assessments. In particular, management has identified two accounting policies that, due to the judgments, estimates and assumptions inherent in those policies, are critical to an understanding of the Company's financial statements. These policies relate to (i) the determination of the provision and the allowance for credit losses on loans and (ii) the valuation of goodwill and other intangible assets. These policies and judgments, estimates and assumptions are described in greater detail in notes to the Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations (Critical Accounting Policies) in the Company's 2021 Form 10-K. Management believes that the judgments, estimates and assumptions used in the preparation of the financial statements are appropriate based on the factual circumstances at the time. However, given the sensitivity of the financial statements to these critical accounting policies, the use of other judgments, estimates and assumptions could result in material differences in the Company's results of operations or financial condition. Further, subsequent changes in economic or market conditions could have a material impact on these estimates and the Company's financial condition and operating results in future periods.
Recent Accounting Pronouncements	In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes." This ASU is part of the FASB's simplification initiative to reduce complexity in accounting standards. The items within this ASU are not expected to have a significant effect on current accounting practice. The effective date and transition requirements for the first and second items of this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2020 and early adoption is permitted. The adoption of ASU No. 2019-12 did not have a material impact on the Company's Consolidated Financial Statements. In January 2020, the FASB issued ASU 2020-01, "Investment—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815." This ASU clarified the interaction of the accounting for equity securities under Topic 321 and investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2021 and early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company's Consolidated Financial Statements. In March 2020, the FASB issued ASU 2020-03, "Codification Improvements to Financial Instruments." This ASU makes certain narrow-scope amendments to the following: i) clarified that all entities are required to provide fair value option disclosures; ii) clarified the applicability of the portfolio exception in ASC 820 to nonfinancial items; iii) aligned disclosures for depository and lending institutions (Topic 942) with guidance in Topic 320; iv) added cross-references to guidance in ASC 470-50 on line-of-credit or revolving-debt arrangements; v) added cross-references to net asset value practical expedient in ASC 820-10; vi) clarified the interaction between ASC 842 and ASC 326; and vii) clarified the interaction between ASC 326 and ASC 860-20. The amendments for issues i, ii, iv, and v became effective upon issuance and did not have a material effect on the Company's Consolidated Financial Statements. The Company adopted the amendments related to issue iii, vi, and vii on July 1, 2020. The adoption did not have a material effect on the Company's Consolidated Financial Statements. In September 2020, the FASB issued ASU 2020-06, "Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity's Own Equity (Subtopic 815-40)." This ASU simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity's own equity. Specifically the ASU removes: i) major separation models required under GAAP and ii) certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception, which will permit more equity contracts to qualify for the exception. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2021 and early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company's Consolidated Financial Statements. In October 2020, the FASB issued ASU 2020-08, "Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs." This ASU clarified that entities should reevaluate whether a callable debt security is within the scope of paragraph 310-20-35-33 for each reporting period. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2020. The adoption of this ASU did not have a material impact on the Company's Consolidated Financial Statements. In October 2020, the FASB issued ASU 2020-09, "Debt (Topic 470): Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762." This ASU updates financial disclosure requirements for subsidiary issuers and guarantors of registered debt securities and affiliates whose securities are pledged as collateral for registered securities. The amendments in this ASU are effective January 4, 2021. The adoption did not have an effect on the Company's Consolidated Financial Statements. In October 2020, the FASB issued ASU 2020-10, "Codification Improvements." The amendments in this update are part of the FASB's ongoing project to improve codification and correcting unintended application. This ASU, i) removes references to various FASB Concepts Statements, ii) situates all disclosure guidance in the appropriate disclosure section of the Codification, and iii) makes other improvements and technical corrections to the Codification. The items within this ASU are not expected to have a significant effect on current accounting practice. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2020 and early adoption is permitted. The adoption of this ASU did not have a material impact on the Company's Consolidated Financial Statements.

Debt Securities (Tables)

3 Months Ended

Sep. 30, 2021

Schedule of Available-for-sale Securities Reconciliation

Debt securities available for sale consist of the following at the dates indicated:


	September 30, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. government agencies	$	18,979	$	123	$	(1)	$	19,101
Residential MBS of U.S. government agencies and GSEs	40,348		1,186		(76)		41,458
Municipal bonds	7,446		390		—		7,836
Corporate bonds	56,142		174		(135)		56,181

Total	$	122,915	$	1,873	$	(212)	$	124,576


	June 30, 2021
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. government agencies	$	18,975	$	135	$	(37)	$	19,073
Residential MBS of U.S. government agencies and GSEs	42,119		1,339		(54)		43,404
Municipal bonds	9,098		453		—		9,551
Corporate bonds	84,301		257		(127)		84,431

Total	$	154,493	$	2,184	$	(218)	$	156,459

Investments Classified by Contractual Maturity Date



	September 30, 2021
	Amortized Cost		Estimated Fair Value
Due within one year	$	29,684	$	29,790
Due after one year through five years	48,816		49,103
Due after five years through ten years	4,067		4,225
Due after ten years	—		—
Mortgage-backed securities	40,348		41,458
Total	$	122,915	$	124,576



	June 30, 2021
	Amortized Cost		Estimated Fair Value
Due within one year	$	34,615	$	34,684
Due after one year through five years	73,249		73,633
Due after five years through ten years	4,510		4,738
Due after ten years	—		—
Mortgage-backed securities	42,119		43,404
Total	$	154,493	$	156,459

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value


	September 30, 2021
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. government agencies	$	4,999	$	(1)	$	—	$	—	$	4,999	$	(1)
Residential MBS of U.S. government agencies and GSEs	8,616		(52)		1,171		(24)		9,787		(76)

Corporate bonds	23,865		(135)		—		—		23,865		(135)
Total	$	37,480	$	(188)	$	1,171	$	(24)	$	38,651	$	(212)


	June 30, 2021
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. government agencies	$	14,963	$	(37)	$	—	$	—	$	14,963	$	(37)
Residential MBS of U.S. government agencies and GSEs	5,212		(28)		1,205		(26)		6,417		(54)

Corporate bonds	19,873		(127)		—		—		19,873		(127)
Total	$	40,048	$	(192)	$	1,205	$	(26)	$	41,253	$	(218)

Other Investments (Tables)

3 Months Ended

Sep. 30, 2021

Investments, All Other Investments [Abstract]

Investment

Other investments, at cost consist of the following at the dates indicated:


	September 30, 2021		June 30, 2021
FHLB of Atlanta stock	$	2,965	$	6,153
FRB stock	7,395		7,386
SBIC investments	10,531		10,171

Total	$	20,891	$	23,710

Loans Held For Sale (Tables)

3 Months Ended

Sep. 30, 2021

Schedule of Loans Held for Sale

Loans held for sale as of the dates indicated consist of the following:


	September 30, 2021		June 30, 2021
One-to-four family	$	39,049	$	31,873
SBA	6,662		4,160
HELOCs	59,450		57,506

Total	$	105,161	$	93,539

Loans consist of the following at the dates indicated:



	September 30, 2021		June 30, 2021
Commercial loans:
Commercial real estate	$	1,132,764	$	1,142,276
Construction and development	187,900		179,427
Commercial and industrial	153,612		141,341
Equipment finance	341,995		317,920
Municipal finance	142,100		140,421
PPP loans	28,762		46,650
Total commercial loans	1,987,133		1,968,035
Retail consumer loans:
One-to-four family	384,901		406,549
HELOCs - originated	129,791		130,225
HELOCs - purchased	33,943		38,976
Construction and land/lots	69,835		66,027
Indirect auto finance	106,184		115,093
Consumer	7,855		8,362
Total retail consumer loans	732,509		765,232
Total loans	2,719,642		2,733,267


Allowance for credit losses	(34,406)		(35,468)
Net loans	$	2,685,236	$	2,697,799

_________________________________________________________________

(1) At September 30, 2021 and June 30, 2021 accrued interest receivable of $7,818 and $7,339 was accounted for separately from the amortized cost basis.

The following tables provide a breakdown between loans identified as CDAs and non-CDAs, by segment and class, and securing collateral, as well as collateral coverage for those loans for the periods indicated below:


	Type of Collateral and Extent to Which Collateral Secures Financial Assets
September 30, 2021	Residential Property		Investment Property		Commercial Property		Business Assets		Financial Assets Not Considered Collateral Dependent		Total

Commercial loans:
Commercial real estate	$	—	$	—	$	299	$	—	$	1,132,465	$	1,132,764
Construction and development	—		—		—		—		187,900		187,900
Commercial and industrial	—		—		—		494		153,118		153,612
Equipment finance	—		—		—		—		341,995		341,995
Municipal finance	—		—		—		—		142,100		142,100
PPP loans	—		—		—		—		28,762		28,762
Retail consumer loans:
One-to-four family	799		—		—		—		384,102		384,901
HELOCs - originated	—		—		—		—		129,791		129,791
HELOCs - purchased	—		—		—		—		33,943		33,943
Construction and land/lots	—		—		—		—		69,835		69,835
Indirect auto finance	—		—		—		—		106,184		106,184
Consumer	—		—		—		—		7,855		7,855
Total	$	799	$	—	$	299	$	494	$	2,718,050	$	2,719,642
Total Collateral Value	$	1,160	$	—	$	288	$	—


	Type of Collateral and Extent to Which Collateral Secures Financial Assets
June 30, 2021	Residential Property		Investment Property		Commercial Property		Business Assets		Financial Assets Not Considered Collateral Dependent		Total

Commercial loans:
Commercial real estate	$	—	$	3,421	$	2,308	$	—	$	1,136,547	$	1,142,276
Construction and development	—		80		—		—		179,347		179,427
Commercial and industrial	—		—		—		25		141,316		141,341
Equipment finance	—		—		—		—		317,920		317,920
Municipal finance	—		—		—		—		140,421		140,421
PPP loans	—		—		—		—		46,650		46,650
Retail consumer loans:
One-to-four family	807		—		—		—		405,742		406,549
HELOCs - originated	—		—		—		—		130,225		130,225
HELOCs - purchased	—		—		—		—		38,976		38,976
Construction and land/lots	—		—		—		—		66,027		66,027
Indirect auto finance	—		—		—		—		115,093		115,093
Consumer	—		—		—		—		8,362		8,362
Total	$	807	$	3,501	$	2,308	$	25	$	2,726,626	$	2,733,267
Total Collateral Value	$	1,160	$	3,602	$	2,723	$	26

Loans (Tables)

3 Months Ended

Sep. 30, 2021

Schedule of Accounts, Notes, Loans and Financing Receivable

Loans held for sale as of the dates indicated consist of the following:


	September 30, 2021		June 30, 2021
One-to-four family	$	39,049	$	31,873
SBA	6,662		4,160
HELOCs	59,450		57,506

Total	$	105,161	$	93,539

Loans consist of the following at the dates indicated:



	September 30, 2021		June 30, 2021
Commercial loans:
Commercial real estate	$	1,132,764	$	1,142,276
Construction and development	187,900		179,427
Commercial and industrial	153,612		141,341
Equipment finance	341,995		317,920
Municipal finance	142,100		140,421
PPP loans	28,762		46,650
Total commercial loans	1,987,133		1,968,035
Retail consumer loans:
One-to-four family	384,901		406,549
HELOCs - originated	129,791		130,225
HELOCs - purchased	33,943		38,976
Construction and land/lots	69,835		66,027
Indirect auto finance	106,184		115,093
Consumer	7,855		8,362
Total retail consumer loans	732,509		765,232
Total loans	2,719,642		2,733,267


Allowance for credit losses	(34,406)		(35,468)
Net loans	$	2,685,236	$	2,697,799

_________________________________________________________________

(1) At September 30, 2021 and June 30, 2021 accrued interest receivable of $7,818 and $7,339 was accounted for separately from the amortized cost basis.


	Type of Collateral and Extent to Which Collateral Secures Financial Assets
September 30, 2021	Residential Property		Investment Property		Commercial Property		Business Assets		Financial Assets Not Considered Collateral Dependent		Total

Commercial loans:
Commercial real estate	$	—	$	—	$	299	$	—	$	1,132,465	$	1,132,764
Construction and development	—		—		—		—		187,900		187,900
Commercial and industrial	—		—		—		494		153,118		153,612
Equipment finance	—		—		—		—		341,995		341,995
Municipal finance	—		—		—		—		142,100		142,100
PPP loans	—		—		—		—		28,762		28,762
Retail consumer loans:
One-to-four family	799		—		—		—		384,102		384,901
HELOCs - originated	—		—		—		—		129,791		129,791
HELOCs - purchased	—		—		—		—		33,943		33,943
Construction and land/lots	—		—		—		—		69,835		69,835
Indirect auto finance	—		—		—		—		106,184		106,184
Consumer	—		—		—		—		7,855		7,855
Total	$	799	$	—	$	299	$	494	$	2,718,050	$	2,719,642
Total Collateral Value	$	1,160	$	—	$	288	$	—


	Type of Collateral and Extent to Which Collateral Secures Financial Assets
June 30, 2021	Residential Property		Investment Property		Commercial Property		Business Assets		Financial Assets Not Considered Collateral Dependent		Total

Commercial loans:
Commercial real estate	$	—	$	3,421	$	2,308	$	—	$	1,136,547	$	1,142,276
Construction and development	—		80		—		—		179,347		179,427
Commercial and industrial	—		—		—		25		141,316		141,341
Equipment finance	—		—		—		—		317,920		317,920
Municipal finance	—		—		—		—		140,421		140,421
PPP loans	—		—		—		—		46,650		46,650
Retail consumer loans:
One-to-four family	807		—		—		—		405,742		406,549
HELOCs - originated	—		—		—		—		130,225		130,225
HELOCs - purchased	—		—		—		—		38,976		38,976
Construction and land/lots	—		—		—		—		66,027		66,027
Indirect auto finance	—		—		—		—		115,093		115,093
Consumer	—		—		—		—		8,362		8,362
Total	$	807	$	3,501	$	2,308	$	25	$	2,726,626	$	2,733,267
Total Collateral Value	$	1,160	$	3,602	$	2,723	$	26

Financing Receivable Credit Quality Indicators

The following table presents the credit risk profile by risk grade for commercial loans by origination year:


	Term Loans By Origination Fiscal Year
September 30,	2022		2021		2020		2019		2018		Prior		Revolving		Total
Commercial real estate
Risk rating:
Pass	$	41,037	$	232,436	$	169,932	$	139,212	$	151,001	$	346,044	$	26,018	$	1,105,680
Special mention	753		—		—		—		16,886		3,619		—		21,258
Substandard	—		—		—		—		621		4,807		398		5,826
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total commercial real estate	$	41,790	$	232,436	$	169,932	$	139,212	$	168,508	$	354,470	$	26,416	$	1,132,764

Construction and development
Risk rating:
Pass	$	6,647	$	24,896	$	2,543	$	4,207	$	4,615	$	8,331	$	132,184	$	183,423
Special mention	—		—		—		—		—		257		3,832		4,089
Substandard	—		—		—		—		—		388		—		388
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total construction and development	$	6,647	$	24,896	$	2,543	$	4,207	$	4,615	$	8,976	$	136,016	$	187,900

Commercial and industrial
Risk rating:
Pass	$	17,402	$	29,495	$	16,467	$	15,930	$	9,562	$	24,732	$	34,015	$	147,603
Special mention	—		—		—		431		108		116		37		692
Substandard	—		31		558		371		4,300		57		—		5,317
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total commercial and industrial	$	17,402	$	29,526	$	17,025	$	16,732	$	13,970	$	24,905	$	34,052	$	153,612

Equipment finance
Risk rating:
Pass	$	52,310	$	145,255	$	94,454	$	46,014	$	3,578	$	—	$	—	$	341,611
Special mention	—		94		—		—		—		—		—		94
Substandard	—		—		32		—		—		—		—		32
Doubtful	—		—		—		258		—		—		—		258
Loss	—		—		—		—		—		—		—		—
Total equipment finance	$	52,310	$	145,349	$	94,486	$	46,272	$	3,578	$	—	$	—	$	341,995

Municipal leases
Risk rating:
Pass	$	5,191	$	23,137	$	21,330	$	13,038	$	15,994	$	49,260	$	13,893	$	141,843
Special mention	—		—		—		—		—		257		—		257
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total municipal leases	$	5,191	$	23,137	$	21,330	$	13,038	$	15,994	$	49,517	$	13,893	$	142,100

PPP loans
Risk rating:
Pass	$	11	$	20,799	$	7,952	$	—	$	—	$	—	$	—	$	28,762
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total PPP loans	$	11	$	20,799	$	7,952	$	—	$	—	$	—	$	—	$	28,762

Total commercial loans
Risk rating:
Pass	$	122,598	$	476,018	$	312,678	$	218,401	$	184,750	$	428,367	$	206,110	$	1,948,922
Special mention	753		94		—		431		16,994		4,249		3,869		26,390
Substandard	—		31		590		371		4,921		5,252		398		11,563
Doubtful	—		—		—		258		—		—		—		258
Loss	—		—		—		—		—		—		—		—
Total commercial loans	$	123,351	$	476,143	$	313,268	$	219,461	$	206,665	$	437,868	$	210,377	$	1,987,133

The following table presents the credit risk profile by risk grade for retail consumer loans by origination year:


	Term Loans By Origination Fiscal Year
September 30,	2022			2021		2020		2019			2018		Prior		Revolving		Total
One-to-four family
Risk rating:
Pass	$	9,624		$	69,855	$	56,443	$	37,245		$	35,835	$	163,570	$	4,367	$	376,939
Special mention	—			—		—		—			—		1,091		—		1,091
Substandard	—			243		972		—			215		4,939		—		6,369
Doubtful	—			—		—		—			—		188		—		188
Loss	—			—		—		—			—		314		—		314
Total one-to-four family	$	9,624		$	70,098	$	57,415	$	37,245		$	36,050	$	170,102	$	4,367	$	384,901

HELOCs - originated
Risk rating:
Pass	$	297		$	1,578	$	365	$	1,366		$	242	$	9,309	$	115,486	$	128,643
Special mention	—			—		—		—			—		11		—		11
Substandard	—			—		—		159			—		926		52		1,137
Doubtful	—			—		—		—			—		—		—		—
Loss	—			—		—		—			—		—		—		—
Total HELOCs - originated	$	297		$	1,578	$	365	$	1,525		$	242	$	10,246	$	115,538	$	129,791

HELOCs - purchased
Risk rating:
Pass	$	—		$	—	$	—	$	—		$	—	$	—	$	33,490	$	33,490
Special mention	—			—		—		—			—		—		—		—
Substandard	—			—		—		—		0	—		—		453		453
Doubtful	—			—		—		—			—		—		—		—
Loss	—			—		—		—			—		—		—		—
Total HELOCs - purchased	$	—		$	—	$	—	$	—		$	—	$	—	$	33,943	$	33,943

Construction and land/lots
Risk rating:
Pass	$	431		$	8,096	$	8,454	$	747		$	—	$	2,781	$	48,920	$	69,429
Special mention	—			—		—		—			—		—		—		—
Substandard	—			—		—		—			—		406		—		406
Doubtful	—			—		—		—			—		—		—		—
Loss	—			—		—		—			—		—		—		—
Total construction and land/lots	$	431		$	8,096	$	8,454	$	747		$	—	$	3,187	$	48,920	$	69,835

Indirect auto finance
Risk rating:
Pass	$	8,103		$	37,082	$	23,730	$	13,635		$	15,561	$	7,222	$	—	$	105,333
Special mention	—		0	—		—		—			—		—		—		—
Substandard	—			12		353		120			208		157		—		850
Doubtful	—			—		—		—			—		—		—		—
Loss	—			1		—		—			—		—		—		1
Total indirect auto finance	$	8,103		$	37,095	$	24,083	$	13,755		$	15,769	$	7,379	$	—	$	106,184

Total consumer loans
Risk rating:
Pass	$	303		$	1,170	$	861	$	4,828		$	201	$	153	$	271	$	7,787
Special mention	—			—		—		—			14		—		—		14
Substandard	—			—		3		17			3		14		16		53
Doubtful	—			—		—		—			—		—		—		—
Loss	—			—		—		1			—		—		—		1
Total consumer loans	$	303		$	1,170	$	864	$	4,846		$	218	$	167	$	287	$	7,855

Total retail consumer loans
Risk rating:
Pass	$	18,758		$	117,781	$	89,853	$	57,821		$	51,839	$	183,035	$	202,534	$	721,621
Special mention	—			—		—		—			14		1,102		—		1,116
Substandard	—			255		1,328		296			426		6,442		521		9,268
Doubtful	—			—		—		—			—		188		—		188
Loss	—			1		—		1			—		314		—		316
Total retail consumer loans	$	18,758		$	118,037	$	91,181	$	58,118		$	52,279	$	191,081	$	203,055	$	732,509

The following table presents the credit risk profile by risk grade for commercial loans by origination year:


	Term Loans By Origination Fiscal Year
June 30,	2021		2020		2019		2018		2017		Prior		Revolving		Total
Commercial real estate
Risk rating:
Pass	$	227,850	$	177,691	$	142,407	$	158,147	$	158,525	$	220,834	$	25,860	$	1,111,314
Special mention	—		—		—		16,951		1,256		3,092		—		21,299
Substandard	—		—		—		630		4,993		3,642		398		9,663
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total commercial real estate	$	227,850	$	177,691	$	142,407	$	175,728	$	164,774	$	227,568	$	26,258	$	1,142,276

Construction and development
Risk rating:
Pass	18,262		6,523		10,349		6,008		2,693		7,153		123,843		$	174,831
Special mention	—		—		—		—		—		286		3,827		4,113
Substandard	—		—		—		—		—		482		—		482
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		1		—		1
Total construction and development	$	18,262	$	6,523	$	10,349	$	6,008	$	2,693	$	7,922	$	127,670	$	179,427

Commercial and industrial
Risk rating:
Pass	29,606		14,010		18,826		10,759		15,346		10,589		36,165		$	135,301
Special mention	—		21		438		110		32		125		37		763
Substandard	31		33		300		—		—		83		4,829		5,276
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		1		—		1
Total commercial and industrial	$	29,637	$	14,064	$	19,564	$	10,869	$	15,378	$	10,798	$	41,031	$	141,341

Equipment finance
Risk rating:
Pass	154,685		104,681		53,178		4,773		—		—		—		$	317,317
Special mention	—		—				—		—		—		—		—
Substandard	—		—		323		—		—		—		—		323
Doubtful	—		—		280		—		—		—		—		280
Loss	—		—		—		—		—		—		—		—
Total equipment finance	$	154,685	$	104,681	$	53,781	$	4,773	$	—	$	—	$	—	$	317,920

Municipal leases
Risk rating:
Pass	23,358		19,240		14,005		17,979		9,738		47,144		8,700		$	140,164
Special mention	—		—		—		—		—		257		—		257
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss			—		—		—		—		—		—		—
Total municipal leases	$	23,358	$	19,240	$	14,005	$	17,979	$	9,738	$	47,401	$	8,700	$	140,421

PPP loans
Risk rating:
Pass	29,667		16,983		—		—		—		—		—		$	46,650
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total PPP loans	$	29,667	$	16,983	$	—	$	—	$	—	$	—	$	—	$	46,650

Total commercial loans
Risk rating:
Pass	$	483,428	$	339,128	$	238,765	$	197,666	$	186,302	$	285,720	$	194,568	$	1,925,577
Special mention	—		21		438		17,061		1,288		3,760		3,864		26,432
Substandard	31		33		623		630		4,993		4,207		5,227		15,744
Doubtful	—		—		280		—		—		—		—		280
Loss	—		—		—		—		—		2		—		2
Total commercial loans	$	483,459	$	339,182	$	240,106	$	215,357	$	192,583	$	293,689	$	203,659	$	1,968,035

The following table presents the credit risk profile by risk grade for retail consumer loans by origination year:


	Term Loans By Origination Fiscal Year
June 30,	2021		2020		2019		2018		2017		Prior		Revolving		Total
One-to-four family
Risk rating:
Pass	$	72,723	$	52,987	$	46,958	$	40,461	$	37,361	$	143,531	$	4,345	$	398,366
Special mention	—		—		—		—		27		1,084		—		1,111
Substandard	246		981		—		216		86		5,037		—		6,566
Doubtful	—		—		—		—		—		191		—		191
Loss	—		—		—		—		—		315		—		315
Total one-to-four family	$	72,969	$	53,968	$	46,958	$	40,677	$	37,474	$	150,158	$	4,345	$	406,549

HELOCs - originated
Risk rating:
Pass	2,767		465		1,294		217		716		9,469		114,048		$	128,976
Special mention	—		—		—		—		—		12		—		12
Substandard	—		—		159		—		38		935		105		1,237
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total HELOCs - originated	$	2,767	$	465	$	1,453	$	217	$	754	$	10,416	$	114,153	$	130,225

HELOCs - purchased
Risk rating:
Pass	—		—		—		—		—		—		38,523		$	38,523
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		453		453
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total HELOCs - purchased	$	—	$	—	$	—	$	—	$	—	$	—	$	38,976	$	38,976

Construction and land/lots
Risk rating:
Pass	4,244		12,133		2,357		956		—		3,558		42,267		$	65,515
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		96		—		416		—		512
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total construction and land/lots	$	4,244	$	12,133	$	2,357	$	1,052	$	—	$	3,974	$	42,267	$	66,027

Indirect auto finance
Risk rating:
Pass	42,128		27,134		16,224		18,853		7,561		2,061		—		$	113,961
Special mention	—		—		—		—		—		—		—		—
Substandard	29		415		195		273		143		75		—		1,130
Doubtful	—		—		—		—		—		—		—		—
Loss	2		—		—		—		—		—		—		2
Total indirect auto finance	$	42,159	$	27,549	$	16,419	$	19,126	$	7,704	$	2,136	$	—	$	115,093

Consumer loans
Risk rating:
Pass	1,344		1,019		5,204		252		90		91		288		$	8,288
Special mention	—		—		—		14		—		—		—		14
Substandard	—		3		19		11		4		10		11		58
Doubtful	—		—		—		—		—		—		—		—
Loss	—		1		1		—		—		—		—		2
Total consumer loans	$	1,344	$	1,023	$	5,224	$	277	$	94	$	101	$	299	$	8,362

Total retail consumer loans
Risk rating:
Pass	$	123,206	$	93,738	$	72,037	$	60,739	$	45,728	$	158,710	$	199,471	$	753,629
Special mention	—		—		—		14		27		1,096		—		1,137
Substandard	275		1,399		373		596		271		6,473		569		9,956
Doubtful	—		—		—		—		—		191		—		191
Loss	2		1		1		—		—		315		—		319
Total retail consumer loans	$	123,483	$	95,138	$	72,411	$	61,349	$	46,026	$	166,785	$	200,040	$	765,232

Past Due Financing Receivables

The following tables present aging analysis of past due loans (includes nonaccrual loans) by segment and class for the periods indicated below:



	Past Due								Total
	30-89 Days		90 Days+		Total		Current		Loans
September 30, 2021
Commercial loans:
Commercial real estate	$	—	$	114	$	114	$	1,132,650	$	1,132,764
Construction and development	216		37		253		187,647		187,900
Commercial and industrial	67		562		629		152,983		153,612
Equipment finance	52		256		308		341,687		341,995
Municipal finance	405		—		405		141,695		142,100
PPP loans	—		—		—		28,762		28,762
Retail consumer loans:
One-to-four family	1,159		1,227		2,386		382,515		384,901
HELOCs - originated	65		317		382		129,409		129,791
HELOCs - purchased	200		—		200		33,743		33,943
Construction and land/lots	126		22		148		69,687		69,835
Indirect auto finance	170		139		309		105,875		106,184
Consumer	425		43		468		7,387		7,855
Total loans	$	2,885	$	2,717	$	5,602	$	2,714,040	$	2,719,642


	Past Due								Total
	30-89 Days		90 Days+		Total		Current		Loans
June 30, 2021
Commercial loans:
Commercial real estate	$	396	$	1,680	$	2,076	$	1,140,200	$	1,142,276
Construction and development	—		37		37		179,390		179,427
Commercial and industrial	634		19		653		140,688		141,341
Equipment finance	—		347		347		317,573		317,920
Municipal finance	—		—		—		140,421		140,421
PPP loans	—		—		—		46,650		46,650
Retail consumer loans:
One-to-four family	1,112		1,124		2,236		404,313		406,549
HELOCs - originated	290		186		476		129,749		130,225
HELOCs - purchased	198		79		277		38,699		38,976
Construction and land/lots	6		35		41		65,986		66,027
Indirect auto finance	299		259		558		114,535		115,093
Consumer	378		36		414		7,948		8,362
Total loans	$	3,313	$	3,802	$	7,115	$	2,726,152	$	2,733,267

Schedule of Past Due Loans Still Accruing and Nonaccruing Interest


	September 30, 2021		June 30, 2021		90 Days + & still accruing as of September 30, 2021		Nonaccrual with no allowance as of September 30, 2021		Interest income recognized
Commercial loans:
Commercial real estate	$	1,576	$	7,015	$	—	$	—	$	12
Construction and development	388		482		—		—		2
Commercial and industrial	1,488		49		—		418		12
Equipment finance	334		630		—		255		—

Retail consumer loans:
One-to-four family	1,710		2,625		—		—		11
HELOCs - originated	445		476		—		—		2
HELOCs - purchased	453		453		—		—		8
Construction and land/lots	22		22		—		—		—
Indirect auto finance	274		438		—		—		2
Consumer	48		416		—		—		—






Total loans	$	6,738	$	12,606	$	—	$	673	$	49

Schedule of Troubled Debt Restructurings Performing and Excluded from Nonaccruing Loans

The Company’s loans that were performing under the payment terms of TDRs that were excluded from nonaccruing loans above at the dates

indicated follows:


	September 30, 2021		June 30, 2021
Performing TDRs	$	11,341	$	11,088

Breakdown of Provision (Benefit) for Credit Losses

The following table presents a breakdown of the provision (benefit) for credit losses included in our Consolidated Statements of Income:


		Three Months Ended
	September 30,
			2021		2020
Provision (benefit) for credit losses:
Loans			$	(1,335)	$	950
Off-balance-sheet credit exposure			(125)		—

Total provision (benefit) for credit losses			$	(1,460)	$	950

Allowance for Credit Losses on Financing Receivables

The following tables present analysis of the ACL on loans by segment for the periods indicated below:


	Three Months Ended
	September 30, 2021
		Commercial		Retail Consumer		Total
Balance at beginning of period		$	24,746	$	10,722	$	35,468

Benefit for credit losses		(623)		(712)		(1,335)
Charge-offs		(619)		(90)		(709)
Recoveries		700		282		982
Net recoveries		81		192		273
Balance at end of period		$	24,204	$	10,202	$	34,406


	Three Months Ended
	September 30, 2020
	Commercial		Retail Consumer		Total
Balance at beginning of period	$	21,116	$	6,956	$	28,072
Impact of adoption ASU 2016-13	4,073		10,736		14,809
Provision for credit losses	292		658		950
Charge-offs	(1,095)		(682)		(1,777)
Recoveries	813		265		1,078
Net charge-offs	(282)		(417)		(699)
Balance at end of period	$	25,199	$	17,933	43,132

Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class

The following tables present ending balances of loans and the related ACL, by segment and class for the periods indicated below:


	Allowance for Credit Losses						Total Loans Receivable
	Loans Individually Evaluated		Loans Collectively Evaluated		Total		Loans Individually Evaluated		Loans Collectively Evaluated		Total
September 30, 2021
Commercial loans:
Commercial real estate	$	9	$	12,209	$	12,218	$	299	$	1,132,465	$	1,132,764
Construction and development	—		1,776		1,776		—		187,900		187,900
Commercial and industrial	525		2,682		3,207		2,048		151,564		153,612
Equipment finance	—		6,714		6,714		255		341,740		341,995
Municipal finance	—		289		289		—		142,100		142,100
PPP loans	—		—		—		—		28,762		28,762
Retail consumer loans:
One-to-four family	3		5,018		5,021		1,969		382,932		384,901
HELOCs - originated	—		1,430		1,430		—		129,791		129,791
HELOCs - purchased	—		374		374		—		33,943		33,943
Construction and land/lots	—		776		776		—		69,835		69,835
Indirect auto finance	—		2,444		2,444		—		106,184		106,184
Consumer	—		157		157		—		7,855		7,855
Total	$	537	$	33,869	$	34,406	$	4,571	$	2,715,071	$	2,719,642


	Allowance for Loan Losses						Total Loans Receivable
	Loans Individually Evaluated		Loans Collectively Evaluated		Total		Loans Individually Evaluated		Loans Collectively Evaluated		Total
June 30, 2021
Commercial loans:
Commercial real estate	$	456	$	12,826	$	13,282	$	5,729	$	1,136,547	$	1,142,276
Construction and development	—		1,801		1,801		80		179,347		179,427
Commercial and industrial	9		2,583		2,592		760		140,581		141,341
Equipment finance	—		6,537		6,537		275		317,645		317,920
Municipal finance	—		534		534		—		140,421		140,421
PPP loans	—		—		—		—		46,650		46,650
Retail consumer loans:
One-to-four family	2		5,407		5,409		1,977		404,572		406,549
HELOCs - originated	—		1,512		1,512		—		130,225		130,225
HELOCs - purchased	—		452		452		—		38,976		38,976
Construction and land/lots	—		812		812		—		66,027		66,027
Indirect auto finance	—		2,367		2,367		—		115,093		115,093
Consumer	—		170		170		—		8,362		8,362
Total	$	467	$	35,001	$	35,468	$	8,821	$	2,724,446	$	2,733,267

Troubled Debt Restructurings on Financing Receivables

The following table presents a breakdown of the types of concessions made on TDRs by loan class for the period indicated below:


	Three Months Ended September 30,
	2021					2020
	Number of Loans	Pre Modification Outstanding Recorded Investment		Post Modification Outstanding Recorded Investment		Number of Loans	Pre Modification Outstanding Recorded Investment		Post Modification Outstanding Recorded Investment


















Other TDRs:
Commercial:


Commercial and industrial	—	—		—		1	4,407		3,800
Retail consumer:

HELOCs - originated	1	18		18		—	—		—

Indirect auto finance	5	84		83		6	105		78


Total	6	$	102	$	101	7	$	4,512	$	3,878

Schedule of Trouble Debt Restructurings With Payment Default

The following table presents loans that were modified as TDRs within the previous 12 months and for which there was a payment default during the periods indicated below:


	Three Months Ended September 30, 2021		Three Months Ended September 30, 2020
		Number of Loans	Recorded Investment		Number of Loans	Recorded Investment








Other TDRs:
Retail consumer:


Indirect auto finance		2	44		1	11




Total		2	$	44	—	$	11

Other TDRs include TDRs that have a below market interest rate and extended payment terms. The Company does not typically forgive principal when restructuring troubled debt.

Net Income per Share (Tables)

3 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following is a reconciliation of the numerator and denominator of basic and diluted net income per share of common stock as of the dates indicated:


	Three Months Ended September 30,
		2021		2020
Numerator:
Net income		$	10,527	$	5,753
Allocation of earnings to participating securities		(92)		(50)
Numerator for basic EPS - Net income available to common stockholders		$	10,435	$	5,703
Effect of dilutive securities:
Dilutive effect to participating securities		2		6
Numerator for diluted EPS		$	10,437	$	5,709
Denominator:
Weighted-average common shares outstanding - basic		15,761,247		16,230,990
Effect of dilutive shares		385,364		238,252
Weighted-average common shares outstanding - diluted		16,146,611		16,469,242
Net income per share - basic		$	0.66	$	0.35
Net income per share - diluted		$	0.65	$	0.35

Equity Incentive Plan (Tables)

3 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs


	Three Months Ended September 30,
		2021		2020
Share-based compensation expense		$	415	$	506
Tax benefit		$	98	$	119

Equity Incentive Plan Stock Option Activity

The table below presents stock option activity and related information:


	Options	Weighted- Average Exercise Price		Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Options outstanding at June 30, 2020	1,615,500	$	18.12	4.4	$	1,711



Forfeited	200	24.95		—	—

Options outstanding at September 30, 2020	1,615,300	$	18.12	4.1	$	—
Exercisable at September 30, 2020	1,303,000	$	16.31	3.3	$	—
Non-vested at September 30, 2020	312,300	$	25.68	7.6	$	—

Options outstanding at June 30, 2021	1,319,456	$	19.07	3.9	$	11,657


Exercised	46,200	15.16		—	—
Forfeited	2,600	25.42		—	—

Options outstanding at September 30, 2021	1,270,656	$	19.19	3.7	$	11,164
Exercisable at September 30, 2021	1,030,506	$	17.75	2.9	$	10,546
Non-vested at September 30, 2021	240,150	$	25.41	7.3	$	617

Schedule of Nonvested Restricted Stock Units Activity

The table below presents restricted stock award activity and related information:


	Restricted Stock Awards	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Non-vested at June 30, 2020	144,046	$	25.89	$	2,305

Vested	2,600	25.37		—
Forfeited	200	24.95		—
Non-vested at September 30, 2020	141,246	$	25.90	$	1,918

Non-vested at June 30, 2021	151,575	$	25.06	$	4,229

Vested	8,918	26.93		—
Forfeited	3,000	26.31		—
Non-vested at September 30, 2021	139,657	$	25.00	$	3,908

Fair Value of Financial Instruments (Tables)

3 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents financial assets measured at fair value on a recurring basis at the dates indicated:


	September 30, 2021
	Total		Level 1		Level 2		Level 3
U.S government agencies	$	19,101	$	—	$	19,101	$	—
Residential MBS of U.S. government agencies and GSEs	41,458		—		41,458		—
Municipal bonds	7,836		—		7,836		—
Corporate bonds	56,181		—		56,181		—

Total	$	124,576	$	—	$	124,576	$	—


	June 30, 2021
	Total		Level 1		Level 2		Level 3
U.S government agencies	$	19,073	$	—	$	19,073	$	—
Residential MBS of U.S. government agencies and GSEs	43,404		—		43,404		—
Municipal bonds	9,551		—		9,551		—
Corporate bonds	84,431		—		84,431		—

Total	$	156,459	$	—	$	156,459	$	—

Fair Value Measurements, Nonrecurring

The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated:


	September 30, 2021
	Total		Level 1		Level 2		Level 3
Individually evaluated loans	$	4,034	$	—	$	—	$	4,034


	June 30, 2021
	Total		Level 1		Level 2		Level 3
Individually evaluated loans	$	8,354	$	—	$	—	$	8,354

Schedule of Quantitative Information About Level 3 Fair Value Measurements

Quantitative information about Level 3 fair value measurements during the periods ended September 30, 2021 and June 30, 2021 is shown in the tables below:

Fair Value at September 30, 2021

Valuation
Techniques

Unobservable
Input

Range

Weighted
Average

Nonrecurring measurements:

Individually evaluated loans

4,034

Discounted appraisals and discounted cash flows

Collateral discounts: Discount spread:

6% - 100%

Fair Value at June 30, 2021

Valuation
Techniques

Unobservable
Input

Range

Weighted
Average

Nonrecurring measurements:

Individually evaluated loans

8,354

Discounted appraisals and discounted cash flows

Collateral discounts: Discount spread:

0% - 52%

0% - 7%

Fair Value, by Balance Sheet Grouping

The stated carrying value and estimated fair value amounts of financial instruments as of September 30, 2021 and June 30, 2021, are summarized below:


	September 30, 2021
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	42,573	$	42,573	$	42,573	$	—	$	—
Commercial paper	196,652		196,652		196,652		—		—
Certificates of deposit in other banks	35,495		35,495		—		35,495		—
Debt securities available for sale	124,576		124,576		—		124,576		—
Loans held for sale	105,161		107,972		—		—		107,972
Loans, net	2,685,236		2,656,263		—		—		2,656,263
FHLB stock	2,965		2,965		2,965		—		—
FRB stock	7,395		7,395		7,395		—		—
SBIC investments	10,531		10,531		—		—		10,531
Accrued interest receivable	8,429		8,429		—		611		7,818
Liabilities:
Noninterest-bearing and NOW deposits	1,333,439		1,333,439		—		1,333,439		—
Money market accounts	987,650		621,675		—		621,675		—
Savings accounts	220,614		220,614		—		220,614		—
Certificates of deposit	445,581		446,540		—		446,540		—
Borrowings	40,000		40,000		—		40,000		—
Accrued interest payable	50		50		—		50		—


	June 30, 2021
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	50,990	$	50,990	$	50,990	$	—	$	—
Commercial paper	189,596		189,596		189,596		—		—
Certificates of deposit in other banks	40,122		40,122		—		40,122		—
Debt securities available for sale	156,459		156,459		—		156,459		—
Loans held for sale	93,539		94,779		—		—		94,779
Loans, net	2,697,799		2,668,570		—		—		2,668,570
FHLB stock	6,153		6,153		6,153		—		—
FRB stock	7,386		7,386		7,386		—		—
SBIC investments	10,171		10,171		—		—		10,171
Accrued interest receivable	7,933		7,933		52		542		7,339
Liabilities:
Noninterest-bearing and NOW deposits	1,281,372		1,281,372		—		1,281,372		—
Money market accounts	975,001		975,001		—		975,001		—
Savings accounts	226,391		226,391		—		226,391		—
Certificates of deposit	472,777		474,397		—		474,397		—
Borrowings	115,000		115,000		—		115,000		—
Accrued interest payable	52		52		—		52		—

Leases (Tables)

3 Months Ended

Sep. 30, 2021

Leases [Abstract]

Assets and Liabilities, Lessee

The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities.



Supplemental Balance Sheet Information:	September 30, 2021			June 30, 2021
ROU assets	$	6,103		$	5,498

Lease liabilities	$	6,852		$	5,926

Weighted-average remaining lease terms (years)	9.70			9.49
Weighted-average discount rate	3.15		%	3.18		%

Lessee, Operating Lease, Liability, Maturity

The following schedule summarizes aggregate future minimum lease payments under these operating leases at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	1,100
2023	1,479
2024	1,010
2025	630
2026	512
Thereafter	3,218
Total of future minimum payments	$	7,949

Lease, Cost

The following table presents components of operating lease expense for the three months ended September 30, 2021 and 2020:


	Three Months Ended September 30,
		2021		2020
Operating lease cost (included in occupancy expense)		$	484	$	439
Sublease income (included in other, net noninterest income)		(51)		(61)
Total operating lease expense, net		$	433	$	378

Supplemental lease cash flow information for the three months ended September 30, 2021 and 2020:


	Three Months Ended September 30,
	2021		2020
ROU assets - noncash additions (operating leases)	$	959	$	533

Cash paid for amounts included in the measurement of lease liabilities (operating leases)	628		524
Cash paid for amounts included in the measurement of lease liabilities (finance leases)	33		33

Finance Lease, Liability, Maturity

The following schedule summarizes aggregate future minimum lease payments under this finance lease obligation at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	100
2023	134
2024	145
2025	146
2026	146
Thereafter	1,702
Total minimum lease payments	2,373
Less: amount representing interest	(580)
Present value of net minimum lease payments	$	1,793

Lessor, Operating Lease, Payments to be Received, Maturity

The following schedule summarizes aggregate future minimum operating lease payments to be received at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	4,734
2023	4,671
2024	2,569
2025	722
2026	246
Thereafter	13
Total of future minimum payments	$	12,955

Sales-type and Direct Financing Leases, Lease Receivable, Maturity

The following table presents components of finance lease net investment included within equipment finance class of financing receivables:


	September 30, 2021		June 30, 2021
Lease receivables	$	63,741	$	63,279

The following schedule summarizes aggregate future minimum finance lease payments to be received at September 30, 2021:


Fiscal year ending September 30:
Remaining 2022	$	14,928
2023	19,076
2024	16,036
2025	10,862
2026	6,437
Thereafter	2,791
Total minimum payments	70,130
Less: amount representing interest	(6,389)
Total	$	63,741

Debt Securities - Available for Sale Securities Table (Details) - USD ($)
$ in Thousands

Sep. 30, 2021

Jun. 30, 2021

Debt Securities, Available-for-sale [Line Items]

$ 122,915

$ 154,493

1,873

2,184

(212)

(218)

Debt Securities, Available-for-sale [Line Items]

124,576

156,459

^[1]

U.S. government agencies

18,979

18,975

123

135

(1)

(37)

Residential MBS of U.S. government agencies and GSEs

19,101

19,073

Debt Securities, Available-for-sale [Line Items]

40,348

42,119

1,186

1,339

(76)

(54)

Debt Securities, Available-for-sale [Line Items]

41,458

43,404

Municipal bonds

7,446

9,098

390

453

Debt Securities, Available-for-sale [Line Items]

7,836

9,551

Corporate bonds

56,142

84,301

174

257

(135)

(127)

Due after one year through five years

$ 56,181

$ 84,431

[1]	Derived from audited financial statements.

Debt Securities - Schedule of Investments Classified by Contractual Maturity Date (Details) - USD ($)
$ in Thousands

Sep. 30, 2021

Jun. 30, 2021

Amortized Cost

Due within one year

$ 29,684

$ 34,615

48,816

73,249

Due after five years through ten years

4,067

4,510

Due after ten years

Due after one year through five years

122,915

154,493

Estimated Fair Value

Due within one year

29,790

34,684

49,103

73,633

Due after five years through ten years

4,225

4,738

Due after ten years

Residential MBS of U.S. government agencies and GSEs

124,576

156,459

^[1]

Amortized Cost

40,348

42,119

Estimated Fair Value

Debt Securities, Available-for-sale [Line Items]

$ 41,458

$ 43,404

[1]	Derived from audited financial statements.

Debt Securities - Narrative (Details)

3 Months Ended

Sep. 30, 2021

USD ($)

security

Sep. 30, 2020

USD ($)

Jun. 30, 2021

USD ($)

security

Proceeds from sale of securities available for sale

$ 124,576,000

$ 156,459,000

^[1]

$ 0

Gross realized gain (loss)

$ 0

Securities available for sale pledged as collateral market value

$ 93,142,000

$ 98,890,000

Number of securities with unrealized losses | security

Accrued interest receivable for investment securities available for sale

$ 611,000

Collateral Pledged

Debt Securities, Available-for-sale [Line Items]

Debt Securities, Available-for-sale [Line Items]

$ 92,083,000

$ 97,603,000

[1]	Derived from audited financial statements.

Debt Securities - Available for Sale Securities Continuous Unrealized Loss Position Fair Value (Details) - USD ($)
$ in Thousands

Sep. 30, 2021

Jun. 30, 2021

$ 124,576

$ 156,459

^[1]

37,480

40,048

1,171

1,205

Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31)

38,651

41,253

(188)

(192)

(24)

(26)

Debt Securities, Available-for-sale [Line Items]

(212)

(218)

U.S. government agencies

19,101

19,073

4,999

14,963

Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31)

4,999

14,963

(1)

(37)

Residential MBS of U.S. government agencies and GSEs

(1)

(37)

Debt Securities, Available-for-sale [Line Items]

41,458

43,404

8,616

5,212

1,171

1,205

Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31)

9,787

6,417

(52)

(28)

(24)

(26)

Debt Securities, Available-for-sale [Line Items]

(76)

(54)

Corporate bonds

56,181

84,431

23,865

19,873

Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31)

23,865

19,873

(135)

(127)

Debt Securities, Available-for-sale [Line Items]

(135)

(127)

Collateral Pledged

Other Investment Not Readily Marketable [Line Items]

$ 92,083

$ 97,603

[1]	Derived from audited financial statements.

Other Investments (Details) - USD ($)
$ in Thousands

Sep. 30, 2021

Jun. 30, 2021

FHLB of Atlanta

$ 2,965

$ 6,153

Federal Reserve Bank of Richmond (FRB)

7,395

7,386

Other investments, at cost

20,891

23,710

^[1]

Small Business Investment Companies (SBIC)

Other Investment Not Readily Marketable [Line Items]

Nonmarketable Investment Securities

$ 10,531

$ 10,171

[1]	Derived from audited financial statements.

Loans Held For Sale (Details) - USD ($)
$ in Thousands

Sep. 30, 2021

Jun. 30, 2021

Accounts, Notes, Loans and Financing Receivable

Accounts, Notes, Loans and Financing Receivable

$ 105,161

$ 93,539

^[1]

One-to-four family

Accounts, Notes, Loans and Financing Receivable

39,049

31,873

SBA

Accounts, Notes, Loans and Financing Receivable

6,662

4,160

HELOCs

Accounts, Notes, Loans and Financing Receivable

$ 59,450

$ 57,506

[1]	Derived from audited financial statements.

Loans - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($)
$ in Thousands

Sep. 30, 2021

Jun. 30, 2021

Sep. 30, 2020

Jun. 30, 2020

$ 2,719,642

$ 2,733,267

Accrued interest receivable

(34,406)

(35,468)

^[1]

$ (43,132)

$ (28,072)

Net loans

2,685,236

2,697,799

^[1]

7,818

7,339

Accounts, Notes, Loans and Financing Receivable

1,987,133

1,968,035

Accounts, Notes, Loans and Financing Receivable

(24,204)

(24,746)

(25,199)

(21,116)

Commercial Loans | PPP

28,762

46,650

Commercial Loans | Commercial real estate

Accounts, Notes, Loans and Financing Receivable

1,132,764

1,142,276

Commercial Loans | Construction and development

(12,218)

(13,282)

Accounts, Notes, Loans and Financing Receivable

187,900

179,427

Commercial Loans | Commercial and industrial

(1,776)

(1,801)

Accounts, Notes, Loans and Financing Receivable

153,612

141,341

Commercial Loans | Equipment finance

(3,207)

(2,592)

Accounts, Notes, Loans and Financing Receivable

341,995

317,920

Commercial Loans | Municipal finance

(6,714)

(6,537)

Accounts, Notes, Loans and Financing Receivable

142,100

140,421

(289)

(534)

Accounts, Notes, Loans and Financing Receivable

732,509

765,232

Retail Consumer Loans | One-to-four family

(10,202)

(10,722)

$ (17,933)

$ (6,956)

Accounts, Notes, Loans and Financing Receivable

384,901

406,549

Retail Consumer Loans | HELOCs - originated

(5,021)

(5,409)

Accounts, Notes, Loans and Financing Receivable

129,791

130,225

Retail Consumer Loans | HELOCs - purchased

(1,430)

(1,512)

Accounts, Notes, Loans and Financing Receivable

33,943

38,976

Retail Consumer Loans | Construction and land/lots

(374)

(452)

Accounts, Notes, Loans and Financing Receivable

69,835

66,027

Retail Consumer Loans | Indirect auto finance

(776)

(812)

Accounts, Notes, Loans and Financing Receivable

106,184

115,093

Retail Consumer Loans | Consumer

(2,444)

(2,367)

Accounts, Notes, Loans and Financing Receivable

7,855

8,362

$ (157)

$ (170)

[1]	Derived from audited financial statements.

Loans - Financing Receivable Credit Quality Indicators, After Adoption of ASU 2016-13 (Details) - USD ($)
$ in Thousands

Sep. 30, 2021

Jun. 30, 2021

$ 2,719,642

$ 2,733,267

^[1]

123,351

483,459

476,143

339,182

313,268

240,106

219,461

215,357

206,665

192,583

437,868

293,689

210,377

203,659

1,987,133

1,968,035

Commercial Loans | PPP

29,667

20,799

16,983

7,952

28,762

46,650

Commercial Loans | Pass

122,598

483,428

476,018

339,128

312,678

238,765

218,401

197,666

184,750

186,302

428,367

285,720

206,110

194,568

Commercial Loans | Pass | PPP

1,948,922

1,925,577

29,667

20,799

16,983

7,952

Commercial Loans | Special Mention

28,762

46,650

753

438

431

17,061

16,994

1,288

4,249

3,760

3,869

3,864

Commercial Loans | Special Mention | PPP

26,390

26,432

Commercial Loans | Substandard

590

623

371

630

4,921

4,993

5,252

4,207

398

5,227

Commercial Loans | Substandard | PPP

11,563

15,744

Commercial Loans | Doubtful

280

258

Commercial Loans | Doubtful | PPP

258

280

Commercial Loans | Loss

Commercial Loans | Loss | PPP

Commercial Loans | Commercial real estate

41,790

227,850

232,436

177,691

169,932

142,407

139,212

175,728

168,508

164,774

354,470

227,568

26,416

26,258

Commercial Loans | Commercial real estate | Pass

1,132,764

1,142,276

41,037

227,850

232,436

177,691

169,932

142,407

139,212

158,147

151,001

158,525

346,044

220,834

26,018

25,860

Commercial Loans | Commercial real estate | Special Mention

1,105,680

1,111,314

753

16,951

16,886

1,256

3,619

3,092

Commercial Loans | Commercial real estate | Substandard

21,258

21,299

630

621

4,993

4,807

3,642

398

Commercial Loans | Commercial real estate | Doubtful

5,826

9,663

Commercial Loans | Commercial real estate | Loss

Commercial Loans | Construction and development

6,647

18,262

24,896

6,523

2,543

10,349

4,207

6,008

4,615

2,693

8,976

7,922

136,016

127,670

Commercial Loans | Construction and development | Pass

187,900

179,427

6,647

18,262

24,896

6,523

2,543

10,349

4,207

6,008

4,615

2,693

8,331

7,153

132,184

123,843

Commercial Loans | Construction and development | Special Mention

183,423

174,831

257

286

3,832

3,827

Commercial Loans | Construction and development | Substandard

4,089

4,113

388

482

Commercial Loans | Construction and development | Doubtful

388

482

Commercial Loans | Construction and development | Loss

Commercial Loans | Commercial and industrial

17,402

29,637

29,526

14,064

17,025

19,564

16,732

10,869

13,970

15,378

24,905

10,798

34,052

41,031

Commercial Loans | Commercial and industrial | Pass

153,612

141,341

17,402

29,606

29,495

14,010

16,467

18,826

15,930

10,759

9,562

15,346

24,732

10,589

34,015

36,165

Commercial Loans | Commercial and industrial | Special Mention

147,603

135,301

438

431

110

108

116

125

Commercial Loans | Commercial and industrial | Substandard

692

763

558

300

371

4,300

4,829

Commercial Loans | Commercial and industrial | Doubtful

5,317

5,276

Commercial Loans | Commercial and industrial | Loss

Commercial Loans | Equipment finance

52,310

154,685

145,349

104,681

94,486

53,781

46,272

4,773

3,578

Commercial Loans | Equipment finance | Pass

341,995

317,920

52,310

154,685

145,255

104,681

94,454

53,178

46,014

4,773

3,578

Commercial Loans | Equipment finance | Special Mention

341,611

317,317

Commercial Loans | Equipment finance | Substandard

323

Commercial Loans | Equipment finance | Doubtful

323

280

258

Commercial Loans | Equipment finance | Loss

258

280

Commercial Loans | Municipal finance

5,191

23,358

23,137

19,240

21,330

14,005

13,038

17,979

15,994

9,738

49,517

47,401

13,893

8,700

Commercial Loans | Municipal finance | Pass

142,100

140,421

5,191

23,358

23,137

19,240

21,330

14,005

13,038

17,979

15,994

9,738

49,260

47,144

13,893

8,700

Commercial Loans | Municipal finance | Special Mention

141,843

140,164

257

Commercial Loans | Municipal finance | Substandard

257

Commercial Loans | Municipal finance | Doubtful

Commercial Loans | Municipal finance | Loss

18,758

123,483

118,037

95,138

91,181

72,411

58,118

61,349

52,279

46,026

191,081

166,785

203,055

200,040

Retail Consumer Loans | Pass

732,509

765,232

18,758

123,206

117,781

93,738

89,853

72,037

57,821

60,739

51,839

45,728

183,035

158,710

202,534

199,471

Retail Consumer Loans | Special Mention

721,621

753,629

1,102

1,096

Retail Consumer Loans | Substandard

1,116

1,137

275

255

1,399

1,328

373

296

596

426

271

6,442

6,473

521

569

Retail Consumer Loans | Doubtful

9,268

9,956

188

191

Retail Consumer Loans | Loss

188

191

314

315

Retail Consumer Loans | One-to-four family

316

319

9,624

72,969

70,098

53,968

57,415

46,958

37,245

40,677

36,050

37,474

170,102

150,158

4,367

4,345

Retail Consumer Loans | One-to-four family | Pass

384,901

406,549

9,624

72,723

69,855

52,987

56,443

46,958

37,245

40,461

35,835

37,361

163,570

143,531

4,367

4,345

Retail Consumer Loans | One-to-four family | Special Mention

376,939

398,366

1,091

1,084

Retail Consumer Loans | One-to-four family | Substandard

1,091

1,111

246

243

981

972

216

215

4,939

5,037

Retail Consumer Loans | One-to-four family | Doubtful

6,369

6,566

188

191

Retail Consumer Loans | One-to-four family | Loss

188

191

314

315

Retail Consumer Loans | HELOCs - originated

314

315

297

2,767

1,578

465

365

1,453

1,525

217

242

754

10,246

10,416

115,538

114,153

Retail Consumer Loans | HELOCs - originated | Pass

129,791

130,225

297

2,767

1,578

465

365

1,294

1,366

217

242

716

9,309

9,469

115,486

114,048

Retail Consumer Loans | HELOCs - originated | Special Mention

128,643

128,976

Retail Consumer Loans | HELOCs - originated | Substandard

159

159

926

935

105

Retail Consumer Loans | HELOCs - originated | Doubtful

1,137

1,237

Retail Consumer Loans | HELOCs - originated | Loss

Retail Consumer Loans | HELOCs - purchased

33,943

38,976

Retail Consumer Loans | HELOCs - purchased | Pass

33,943

38,976

33,490

38,523

Retail Consumer Loans | HELOCs - purchased | Special Mention

33,490

38,523

Retail Consumer Loans | HELOCs - purchased | Substandard

453

Retail Consumer Loans | HELOCs - purchased | Doubtful

453

Retail Consumer Loans | HELOCs - purchased | Loss

Retail Consumer Loans | Construction and land/lots

431

4,244

8,096

12,133

8,454

2,357

747

1,052

3,187

3,974

48,920

42,267

Retail Consumer Loans | Construction and land/lots | Pass

69,835

66,027

431

4,244

8,096

12,133

8,454

2,357

747

956

2,781

3,558

48,920

42,267

Retail Consumer Loans | Construction and land/lots | Special Mention

69,429

65,515

Retail Consumer Loans | Construction and land/lots | Substandard

406

416

Retail Consumer Loans | Construction and land/lots | Doubtful

406

512

Retail Consumer Loans | Construction and land/lots | Loss

Retail Consumer Loans | Indirect auto finance

8,103

42,159

37,095

27,549

24,083

16,419

13,755

19,126

15,769

7,704

7,379

2,136

Retail Consumer Loans | Indirect auto finance | Pass

106,184

115,093

8,103

42,128

37,082

27,134

23,730

16,224

13,635

18,853

15,561

7,561

7,222

2,061

Retail Consumer Loans | Indirect auto finance | Special Mention

105,333

113,961

Retail Consumer Loans | Indirect auto finance | Substandard

415

353

195

120

273

208

143

157

Retail Consumer Loans | Indirect auto finance | Doubtful

850

1,130

Retail Consumer Loans | Indirect auto finance | Loss

Retail Consumer Loans | Consumer

303

1,344

1,170

1,023

864

5,224

4,846

277

218

167

101

287

299

Retail Consumer Loans | Consumer | Pass

7,855

8,362

303

1,344

1,170

1,019

861

5,204

4,828

252

201

153

271

288

Retail Consumer Loans | Consumer | Special Mention

7,787

8,288

Retail Consumer Loans | Consumer | Substandard

Retail Consumer Loans | Consumer | Doubtful

Retail Consumer Loans | Consumer | Loss

Financing Receivable, Allowance for Credit Loss [Roll Forward]

$ 1

$ 2

[1]	Derived from audited financial statements.

Loans - Schedule of Past Due Financing Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Financing Receivable, Past Due [Line Items]
Past Due	$ 5,602	$ 7,115
Current	2,714,040	2,726,152
Total Loans	2,719,642	2,733,267
30-89 Days
Financing Receivable, Past Due [Line Items]
Past Due	2,885	3,313
90 Days+
Financing Receivable, Past Due [Line Items]
Past Due	2,717	3,802
Commercial Loans
Financing Receivable, Past Due [Line Items]
Total Loans	1,987,133	1,968,035
Commercial Loans \| PPP
Financing Receivable, Past Due [Line Items]
Past Due	0	0
Current	28,762	46,650
Total Loans	28,762	46,650
Commercial Loans \| 30-89 Days \| PPP
Financing Receivable, Past Due [Line Items]
Past Due	0	0
Commercial Loans \| 90 Days+ \| PPP
Financing Receivable, Past Due [Line Items]
Past Due	0	0
Commercial Loans \| Commercial real estate
Financing Receivable, Past Due [Line Items]
Past Due	114	2,076
Current	1,132,650	1,140,200
Total Loans	1,132,764	1,142,276
Commercial Loans \| Commercial real estate \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Past Due	0	396
Commercial Loans \| Commercial real estate \| 90 Days+
Financing Receivable, Past Due [Line Items]
Past Due	114	1,680
Commercial Loans \| Construction and development
Financing Receivable, Past Due [Line Items]
Past Due	253	37
Current	187,647	179,390
Total Loans	187,900	179,427
Commercial Loans \| Construction and development \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Past Due	216	0
Commercial Loans \| Construction and development \| 90 Days+
Financing Receivable, Past Due [Line Items]
Past Due	37	37
Commercial Loans \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Past Due	629	653
Current	152,983	140,688
Total Loans	153,612	141,341
Commercial Loans \| Commercial and industrial \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Past Due	67	634
Commercial Loans \| Commercial and industrial \| 90 Days+
Financing Receivable, Past Due [Line Items]
Past Due	562	19
Commercial Loans \| Equipment finance
Financing Receivable, Past Due [Line Items]
Past Due	308	347
Current	341,687	317,573
Total Loans	341,995	317,920
Commercial Loans \| Equipment finance \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Past Due	52	0
Commercial Loans \| Equipment finance \| 90 Days+
Financing Receivable, Past Due [Line Items]
Past Due	256	347
Commercial Loans \| Municipal finance
Financing Receivable, Past Due [Line Items]
Past Due	405	0
Current	141,695	140,421
Total Loans	142,100	140,421
Commercial Loans \| Municipal finance \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Past Due	405	0
Commercial Loans \| Municipal finance \| 90 Days+
Financing Receivable, Past Due [Line Items]
Past Due	0	0
Retail Consumer Loans
Financing Receivable, Past Due [Line Items]
Total Loans	732,509	765,232
Retail Consumer Loans \| One-to-four family
Financing Receivable, Past Due [Line Items]
Past Due	2,386	2,236
Current	382,515	404,313
Total Loans	384,901	406,549
Retail Consumer Loans \| One-to-four family \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Past Due	1,159	1,112
Retail Consumer Loans \| One-to-four family \| 90 Days+
Financing Receivable, Past Due [Line Items]
Past Due	1,227	1,124
Retail Consumer Loans \| HELOCs - originated
Financing Receivable, Past Due [Line Items]
Past Due	382	476
Current	129,409	129,749
Total Loans	129,791	130,225
Retail Consumer Loans \| HELOCs - originated \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Past Due	65	290
Retail Consumer Loans \| HELOCs - originated \| 90 Days+
Financing Receivable, Past Due [Line Items]
Past Due	317	186
Retail Consumer Loans \| HELOCs - purchased
Financing Receivable, Past Due [Line Items]
Past Due	200	277
Current	33,743	38,699
Total Loans	33,943	38,976
Retail Consumer Loans \| HELOCs - purchased \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Past Due	200	198
Retail Consumer Loans \| HELOCs - purchased \| 90 Days+
Financing Receivable, Past Due [Line Items]
Past Due	0	79
Retail Consumer Loans \| Construction and land/lots
Financing Receivable, Past Due [Line Items]
Past Due	148	41
Current	69,687	65,986
Total Loans	69,835	66,027
Retail Consumer Loans \| Construction and land/lots \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Past Due	126	6
Retail Consumer Loans \| Construction and land/lots \| 90 Days+
Financing Receivable, Past Due [Line Items]
Past Due	22	35
Retail Consumer Loans \| Indirect auto finance
Financing Receivable, Past Due [Line Items]
Past Due	309	558
Current	105,875	114,535
Total Loans	106,184	115,093
Retail Consumer Loans \| Indirect auto finance \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Past Due	170	299
Retail Consumer Loans \| Indirect auto finance \| 90 Days+
Financing Receivable, Past Due [Line Items]
Past Due	139	259
Retail Consumer Loans \| Consumer
Financing Receivable, Past Due [Line Items]
Past Due	468	414
Current	7,387	7,948
Total Loans	7,855	8,362
Retail Consumer Loans \| Consumer \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Past Due	425	378
Retail Consumer Loans \| Consumer \| 90 Days+
Financing Receivable, Past Due [Line Items]
Past Due	$ 43	$ 36

Loans - Schedule of Past Due Loans Still Accruing and Nonaccruing Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021
Accounts, Notes, Loans and Financing Receivable
Nonaccrual loans	$ 6,738	$ 12,606
90 Days + & still accruing as of September 30, 2021	0
Nonaccrual with no allowance as of September 30, 2021	673
Interest income recognized	49
Commercial Loans \| Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Nonaccrual loans	1,576	7,015
90 Days + & still accruing as of September 30, 2021	0
Nonaccrual with no allowance as of September 30, 2021	0
Interest income recognized	12
Commercial Loans \| Construction and development
Accounts, Notes, Loans and Financing Receivable
Nonaccrual loans	388	482
90 Days + & still accruing as of September 30, 2021	0
Nonaccrual with no allowance as of September 30, 2021	0
Interest income recognized	2
Commercial Loans \| Commercial and industrial
Accounts, Notes, Loans and Financing Receivable
Nonaccrual loans	1,488	49
90 Days + & still accruing as of September 30, 2021	0
Nonaccrual with no allowance as of September 30, 2021	418
Interest income recognized	12
Commercial Loans \| Equipment finance
Accounts, Notes, Loans and Financing Receivable
Nonaccrual loans	334	630
90 Days + & still accruing as of September 30, 2021	0
Nonaccrual with no allowance as of September 30, 2021	255
Interest income recognized	0
Retail Consumer Loans \| One-to-four family
Accounts, Notes, Loans and Financing Receivable
Nonaccrual loans	1,710	2,625
90 Days + & still accruing as of September 30, 2021	0
Nonaccrual with no allowance as of September 30, 2021	0
Interest income recognized	11
Retail Consumer Loans \| HELOCs - originated
Accounts, Notes, Loans and Financing Receivable
Nonaccrual loans	445	476
90 Days + & still accruing as of September 30, 2021	0
Nonaccrual with no allowance as of September 30, 2021	0
Interest income recognized	2
Retail Consumer Loans \| HELOCs - purchased
Accounts, Notes, Loans and Financing Receivable
Nonaccrual loans	453	453
90 Days + & still accruing as of September 30, 2021	0
Nonaccrual with no allowance as of September 30, 2021	0
Interest income recognized	8
Retail Consumer Loans \| Construction and land/lots
Accounts, Notes, Loans and Financing Receivable
Nonaccrual loans	22	22
90 Days + & still accruing as of September 30, 2021	0
Nonaccrual with no allowance as of September 30, 2021	0
Interest income recognized	0
Retail Consumer Loans \| Indirect auto finance
Accounts, Notes, Loans and Financing Receivable
Nonaccrual loans	274	438
90 Days + & still accruing as of September 30, 2021	0
Nonaccrual with no allowance as of September 30, 2021	0
Interest income recognized	2
Retail Consumer Loans \| Consumer
Accounts, Notes, Loans and Financing Receivable
Nonaccrual loans	48	$ 416
90 Days + & still accruing as of September 30, 2021	0
Nonaccrual with no allowance as of September 30, 2021	0
Interest income recognized	$ 0

Loans Loans - Narrative (Details) $ in Thousands	3 Months Ended
Loans Loans - Narrative (Details) $ in Thousands	Sep. 30, 2021 USD ($) loan	Jun. 30, 2021 USD ($)
Accounts, Notes, Loans and Financing Receivable
Number of loans \| loan	2
Financing receivable, nonaccrual, payoffs and charge offs	$ 5,100
Reserve for credit losses for off-balance sheet credit exposures included in other liabilities	2,198
Payment deferral amount	1,003	$ 107
Coronavirus Aid, Relief, And Economic Securities Act, Short-Term Modifications \| Commercial Loans
Accounts, Notes, Loans and Financing Receivable
Amount of loans on interest-only payments	$ 67,810	$ 78,850

Loans - Schedule of Troubled Debt Restructurings Performing and Excluded from Nonaccruing Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Performing financing receivable
Financing Receivable, Modifications
Performing TDRs	$ 11,341	$ 11,088

Loans - Breakdown of Provision (Benefit) For Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Provision (benefit) for credit losses:
Loans	$ (1,335)	$ 950
Off-balance-sheet credit exposure	(125)	0
Total provision (benefit) for credit losses	$ (1,460)	$ 950

Loans - Schedule of Allowance for Credit Losses on Financing Receivables Table (Details) - USD ($)
$ in Thousands

3 Months Ended

Sep. 30, 2021

Sep. 30, 2020

Provision (benefit) for credit losses

$ 35,468

^[1]

$ 28,072

(1,335)

950

Charge-offs

(709)

(1,777)

Recoveries

982

1,078

Net recoveries

273

(699)

Balance at end of period

34,406

43,132

Cumulative-effect adjustment due to the adoption of ASU 2016-13

Financing Receivable, Allowance for Credit Loss [Roll Forward]

14,809

Financing Receivable, Allowance for Credit Loss [Roll Forward]

Provision (benefit) for credit losses

24,746

21,116

(623)

292

Charge-offs

(619)

(1,095)

Recoveries

700

813

Net recoveries

(282)

Balance at end of period

24,204

25,199

Commercial Loans | Cumulative-effect adjustment due to the adoption of ASU 2016-13

Financing Receivable, Allowance for Credit Loss [Roll Forward]

4,073

Financing Receivable, Allowance for Credit Loss [Roll Forward]

Provision (benefit) for credit losses

10,722

6,956

(712)

658

Charge-offs

(90)

(682)

Recoveries

282

265

Net recoveries

192

(417)

Balance at end of period

$ 10,202

17,933

Retail Consumer Loans | Cumulative-effect adjustment due to the adoption of ASU 2016-13

Financing Receivable, Allowance for Credit Loss [Roll Forward]

Financing Receivable, Allowance for Credit Loss [Line Items]

$ 10,736

[1]	Derived from audited financial statements.

Loans - Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class (Details) - USD ($)
$ in Thousands

Sep. 30, 2021

Jun. 30, 2021

Sep. 30, 2020

Jun. 30, 2020

Allowance for credit losses, Loans individually evaluated for impairment

$ 537

$ 467

Allowance for credit losses, Loans collectively evaluated

33,869

35,001

Total loans receivable, Loans individually evaluated for impairment

34,406

35,468

^[1]

$ 43,132

$ 28,072

4,571

8,821

Total loans receivable, Loans collectively evaluated

2,715,071

2,724,446

2,719,642

2,733,267

Financing Receivable, Allowance for Credit Loss [Line Items]

24,204

24,746

25,199

21,116

Financing Receivable, Allowance for Credit Loss [Line Items]

1,987,133

1,968,035

Commercial Loans | PPP

Allowance for credit losses, Loans individually evaluated for impairment

Allowance for credit losses, Loans collectively evaluated

Total loans receivable, Loans individually evaluated for impairment

Total loans receivable, Loans collectively evaluated

28,762

46,650

Commercial Loans | Commercial real estate

28,762

46,650

Financing Receivable, Allowance for Credit Loss [Line Items]

Allowance for credit losses, Loans individually evaluated for impairment

456

Allowance for credit losses, Loans collectively evaluated

12,209

12,826

Total loans receivable, Loans individually evaluated for impairment

12,218

13,282

299

5,729

Total loans receivable, Loans collectively evaluated

1,132,465

1,136,547

Commercial Loans | Construction and development

1,132,764

1,142,276

Financing Receivable, Allowance for Credit Loss [Line Items]

Allowance for credit losses, Loans individually evaluated for impairment

Allowance for credit losses, Loans collectively evaluated

1,776

1,801

Total loans receivable, Loans individually evaluated for impairment

1,776

1,801

Total loans receivable, Loans collectively evaluated

187,900

179,347

Commercial Loans | Commercial and industrial

187,900

179,427

Financing Receivable, Allowance for Credit Loss [Line Items]

Allowance for credit losses, Loans individually evaluated for impairment

525

Allowance for credit losses, Loans collectively evaluated

2,682

2,583

Total loans receivable, Loans individually evaluated for impairment

3,207

2,592

2,048

760

Total loans receivable, Loans collectively evaluated

151,564

140,581

Commercial Loans | Equipment finance

153,612

141,341

Financing Receivable, Allowance for Credit Loss [Line Items]

Allowance for credit losses, Loans individually evaluated for impairment

Allowance for credit losses, Loans collectively evaluated

6,714

6,537

Total loans receivable, Loans individually evaluated for impairment

6,714

6,537

255

275

Total loans receivable, Loans collectively evaluated

341,740

317,645

Commercial Loans | Municipal finance

341,995

317,920

Financing Receivable, Allowance for Credit Loss [Line Items]

Allowance for credit losses, Loans individually evaluated for impairment

Allowance for credit losses, Loans collectively evaluated

289

534

Total loans receivable, Loans individually evaluated for impairment

289

534

Total loans receivable, Loans collectively evaluated

142,100

140,421

142,100

140,421

Financing Receivable, Allowance for Credit Loss [Line Items]

10,202

10,722

$ 17,933

$ 6,956

Retail Consumer Loans | One-to-four family

732,509

765,232

Financing Receivable, Allowance for Credit Loss [Line Items]

Allowance for credit losses, Loans individually evaluated for impairment

Allowance for credit losses, Loans collectively evaluated

5,018

5,407

Total loans receivable, Loans individually evaluated for impairment

5,021

5,409

1,969

1,977

Total loans receivable, Loans collectively evaluated

382,932

404,572

Retail Consumer Loans | HELOCs - originated

384,901

406,549

Financing Receivable, Allowance for Credit Loss [Line Items]

Allowance for credit losses, Loans individually evaluated for impairment

Allowance for credit losses, Loans collectively evaluated

1,430

1,512

Total loans receivable, Loans individually evaluated for impairment

1,430

1,512

Total loans receivable, Loans collectively evaluated

129,791

130,225

Retail Consumer Loans | HELOCs - purchased

129,791

130,225

Financing Receivable, Allowance for Credit Loss [Line Items]

Allowance for credit losses, Loans individually evaluated for impairment

Allowance for credit losses, Loans collectively evaluated

374

452

Total loans receivable, Loans individually evaluated for impairment

374

452

Total loans receivable, Loans collectively evaluated

33,943

38,976

Retail Consumer Loans | Construction and land/lots

33,943

38,976

Financing Receivable, Allowance for Credit Loss [Line Items]

Allowance for credit losses, Loans individually evaluated for impairment

Allowance for credit losses, Loans collectively evaluated

776

812

Total loans receivable, Loans individually evaluated for impairment

776

812

Total loans receivable, Loans collectively evaluated

69,835

66,027

Retail Consumer Loans | Indirect auto finance

69,835

66,027

Financing Receivable, Allowance for Credit Loss [Line Items]

Allowance for credit losses, Loans individually evaluated for impairment

Allowance for credit losses, Loans collectively evaluated

2,444

2,367

Total loans receivable, Loans individually evaluated for impairment

2,444

2,367

Total loans receivable, Loans collectively evaluated

106,184

115,093

Retail Consumer Loans | Consumer

106,184

115,093

Financing Receivable, Allowance for Credit Loss [Line Items]

Allowance for credit losses, Loans individually evaluated for impairment

Allowance for credit losses, Loans collectively evaluated

157

170

Total loans receivable, Loans individually evaluated for impairment

157

170

Total loans receivable, Loans collectively evaluated

7,855

8,362

$ 7,855

$ 8,362

[1]	Derived from audited financial statements.

Loans - Schedule of Debt Restructurings on Financing Receivables (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2021 USD ($) loan	Sep. 30, 2020 USD ($) loan
Financing Receivable, Modifications
Number of loans \| loan	6	7
Pre-modification outstanding recorded investment	$ 102	$ 4,512
Post-modification outstanding recorded investment	$ 101	$ 3,878
Commercial Loans \| Other TDR \| Commercial and industrial
Financing Receivable, Modifications
Number of loans \| loan	0	1
Pre-modification outstanding recorded investment	$ 0	$ 4,407
Post-modification outstanding recorded investment	$ 0	$ 3,800
Retail Consumer Loans \| Other TDR \| HELOCs - originated
Financing Receivable, Modifications
Number of loans \| loan	1	0
Pre-modification outstanding recorded investment	$ 18	$ 0
Post-modification outstanding recorded investment	$ 18	$ 0
Retail Consumer Loans \| Other TDR \| Indirect auto finance
Financing Receivable, Modifications
Number of loans \| loan	5	6
Pre-modification outstanding recorded investment	$ 84	$ 105
Post-modification outstanding recorded investment	$ 83	$ 78

Loans - Schedule of Troubled Debt Restructurings With Payment Default (Details) - Other TDR $ in Thousands	3 Months Ended
	Sep. 30, 2021 USD ($) loan	Sep. 30, 2020 USD ($) loan
Financing Receivable, Modifications
Number of loans \| loan	2	0
Recorded investment \| $	$ 44	$ 11
Retail Consumer Loans \| Indirect auto finance
Financing Receivable, Modifications
Number of loans \| loan	2	1
Recorded investment \| $	$ 44	$ 11

Net Income per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net income	$ 10,527	$ 5,753
Allocation of earnings to participating securities	(92)	(50)
Numerator for basic EPS - Net income available to common stockholders	10,435	5,703
Dilutive effect to participating securities	2	6
Numerator for diluted EPS	$ 10,437	$ 5,709
Denominator:
Weighted-average common shares outstanding - basic	15,761,247	16,230,990
Effect of dilutive shares	385,364	238,252
Weighted-average common shares outstanding - diluted	16,146,611	16,469,242
Net income per share - basic (in dollars per share)	$ 0.66	$ 0.35
Net income per share - diluted (in dollars per share)	$ 0.65	$ 0.35

Net Income per Share - Antidilutive Stock Options (Details) - shares	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	446,250	573,900

Equity Incentive Plan - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended	12 Months Ended
	Jan. 17, 2013	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2013	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity incentive plan name	2013 Omnibus Incentive Plan
Nonvested, number of shares (in shares)		240,150	312,300
Remaining contractual life (years)		3 years 8 months 12 days	4 years 1 month 6 days		3 years 10 months 24 days	4 years 4 months 24 days
Options outstanding (in shares)			312,300
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized		$ 1,083	$ 1,535
Compensation cost not yet recognized, period for recognition (in years)		1 year 4 months 24 days	1 year 6 months
Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining contractual life (years)			5 years
Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining contractual life (years)		5 years
Performance Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested (in shares)		23,662	16,440
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized, period for recognition (in years)		1 year 6 months	1 year 7 months 6 days
Compensation not yet recognized, share-based awards other than options		$ 2,483	$ 2,715
Non-vested (in shares)		139,657	141,246		144,046		151,575
Restricted Stock \| Vesting Period One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years	3 years
Restricted Stock \| Vesting Period Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		5 years	5 years
2013 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity incentive plan description	provides for awards of restricted stock, restricted stock units, stock options, stock appreciation rights and cash awards to directors, directors emeritus, officers, employees and advisory directors
Number of shares authorized (in shares)	2,962,400
Shares held for awards of stock options and stock appreciation rights (in shares)	2,116,000
Shares held for awards of restricted stock and restricted stock units (in shares)	846,400
Shares repurchased (in shares)				846,400
Shares repurchased, amount				$ 13,297
Shares repurchased, average cost per share (in usd per share)				$ 15.71

Equity Incentive Plan Equity Incentive Plan - Share Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Share-based compensation expense	$ 415	$ 506
Share-based compensation expense, tax related benefit	$ 98	$ 119

Equity Incentive Plan - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2021
Options
Options Outstanding, Beginning of Period (in shares)	1,319,456	1,615,500
Exercised (in shares)	46,200
Forfeited (in shares)	2,600	200
Options Outstanding, End of period (in shares)	1,270,656	1,615,300	1,615,500
Exercisable (in shares)	1,030,506	1,303,000
Weighted- Average Exercise Price
Options Outstanding, Beginning of Period (in usd per share)	$ 19.07	$ 18.12
Exercised (in usd per share)	15.16
Forfeited (in usd per share)	25.42	24.95
Options Outstanding, End of Period (in usd per share)	19.19	18.12	$ 18.12
Exercisable (in usd per share)	$ 17.75	$ 16.31
Remaining contractual life (years)	3 years 8 months 12 days	4 years 1 month 6 days	3 years 10 months 24 days	4 years 4 months 24 days
Exercisable (in years)	2 years 10 months 24 days	3 years 3 months 18 days
Aggregate intrinsic value	$ 11,164	$ 0	$ 1,711		$ 11,657
Aggregate intrinsic value	$ 10,546	$ 0
Non-vested Options
Nonvested, number of shares (in shares)	240,150	312,300
Nonvested, weighted average grant date fair value (in dollars per share)	$ 25.41	$ 25.68
Nonvested, contractual term (in years)	7 years 3 months 18 days	7 years 7 months 6 days
Nonvested, intrinsic value	$ 617	$ 0

Equity Incentive Plan - Schedule of Nonvested Restricted Stock Units Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Weighted- Average Grant Date Fair Value
Aggregate intrinsic value	$ 10,546	$ 0
Restricted Stock
Restricted Stock Awards
Non-vested, Beginning Balance (in shares)	151,575	144,046
Vested (in shares)	8,918	2,600
Forfeited (in shares)	3,000	200
Non-vested, Ending Balance (in shares)	139,657	141,246
Weighted- Average Grant Date Fair Value
Non-vested, Beginning Balance (in usd per share)	$ 25.06	$ 25.89
Vested (in usd per share)	26.93	25.37
Forfeitures (in dollars per share)	26.31	24.95
Non-vested, Ending Balance (in usd per share)	$ 25.00	$ 25.90
Aggregate intrinsic value	$ 3,908	$ 1,918	$ 4,229	$ 2,305

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2021	Jun. 30, 2020	Jun. 30, 2021
Other Commitments
Unused commitments to extend credit	$ 83,616		$ 123,463
Variable rate commitments	12,636	$ 45,270
Fixed rate commitments	70,980	$ 78,193
Remaining borrowing capacity	571,362		530,505
Letters of credit outstanding	$ 9,671		8,681
Minimum
Other Commitments
Fixed interest rate (as a percent)	1.41%	2.50%
Loan Commitments Terms		3 years
Maximum
Other Commitments
Fixed interest rate (as a percent)	9.75%	8.36%
Loan Commitments Terms		30 years
Construction and development
Other Commitments
Unused commitments to extend credit	$ 205,848		$ 277,600

Fair Value of Financial Instruments - Schedule of Fair Value Measurements, Nonrecurring (Details) - Fair Value, Measurements, Nonrecurring - Individually evaluated loans - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	$ 4,034	$ 8,354
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	$ 4,034	$ 8,354

Fair Value of Financial Instruments - Schedule of Quantitative Information About Level 3 Fair Value Measurements (Details) - Individually evaluated loans $ in Thousands	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)
Minimum \| Fair Value, Inputs, Level 3 \| Collateral discounts
Level 3 fair value measurements during the period	0.0006	0
Minimum \| Fair Value, Inputs, Level 3 \| Discount Spread
Level 3 fair value measurements during the period		0
Maximum \| Fair Value, Inputs, Level 3 \| Collateral discounts
Level 3 fair value measurements during the period	1	0.52
Maximum \| Fair Value, Inputs, Level 3 \| Discount Spread
Level 3 fair value measurements during the period	0	0.07
Weighted Average \| Fair Value, Inputs, Level 3 \| Measurement Input, Discount Rate [Member]
Level 3 fair value measurements during the period	0.13	0.06
Fair Value, Measurements, Nonrecurring
Fair value	$ 4,034	$ 8,354
Fair Value, Measurements, Nonrecurring \| Fair Value, Inputs, Level 3
Fair value	$ 4,034	$ 8,354

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value off-balance sheet risks, amount, liability	$ 860,826	$ 931,568

Leases - Supplement Balance Sheet (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021
Leases [Abstract]
Renewal term (in years)	15 years
ROU assets	$ 6,103		$ 5,498
Lease liabilities	$ 6,852		$ 5,926
Weighted-average remaining lease terms (years)	9 years 8 months 12 days		9 years 5 months 26 days
Weighted-average discount rate	3.15%		3.18%
Finance lease, right-of-use asset	$ 2,052		$ 2,052
Finance lease, liability	1,793
Finance lease, interest expense	$ 23	$ 24
Finance lease, discount rate	5.18%

Leases - Maturity Schedule for Finance and Operating Leases (Details) $ in Thousands	Sep. 30, 2021 USD ($)
Operating Leases
Remaining 2022	$ 1,100
2023	1,479
2024	1,010
2025	630
2026	512
Thereafter	3,218
Total of future minimum payments	7,949
Finance Leases
Remaining 2022	100
2023	134
2024	145
2025	146
2026	146
Thereafter	1,702
Total minimum lease payments	2,373
Less: amount representing interest	(580)
Present value of net minimum lease payments	$ 1,793

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
Operating lease cost (included in occupancy expense)	$ 484	$ 439
Sublease income (included in other, net noninterest income)	(51)	(61)
Total operating lease expense, net	$ 433	$ 378

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases [Abstract]
ROU assets - noncash additions (operating leases)	$ 959	$ 533
Cash paid for amounts included in the measurement of lease liabilities (operating leases)	628	524
Cash paid for amounts included in the measurement of lease liabilities (finance leases)	$ 33	$ 33

Leases - Lessor, Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021
Lessor, Lease, Description [Line Items]
Leased asset	$ 24,821		$ 25,932
Operating lease, residual value of leased asset	14,693		15,330
Direct financing lease, interest income	759	$ 530
Lease receivables	$ 63,741		$ 63,279
Minimum
Lessor, Lease, Description [Line Items]
Term of contract	1 year
Maximum
Lessor, Lease, Description [Line Items]
Term of contract	5 years

Leases - Lessor, Fiscal Year Maturity Schedule (Details) $ in Thousands	Sep. 30, 2021 USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
Remaining 2022	$ 4,734
2023	4,671
2024	2,569
2025	722
2026	246
Thereafter	13
Total of future minimum payments	12,955
Financing Leases
Remaining 2022	14,928
2023	19,076
2024	16,036
2025	10,862
2026	6,437
Thereafter	2,791
Total minimum payments	70,130
Less: amount representing interest	(6,389)
Total	$ 63,741

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201613Member

Indicates amendment to accounting standards.

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