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AVAILABLE-FOR-SALE SECURITIES (Tables)
 9 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost, Carrying Amount and Fair Value of Available-for-sale Securities
The amortized cost and fair value of available-for-sale securities were:
March 31, 2024
(Dollars in thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Mortgage-backed securities (MBS):
Agency1
$30,121 $122 $(2,762)$27,481 
Non-agency2
177,236 950 (1,507)176,679 
Total mortgage-backed securities207,357 1,072 (4,269)204,160 
Municipal3,754 — (332)3,422 
Total available-for-sale securities
$211,111 $1,072 $(4,601)$207,582 
June 30, 2023
(Dollars in thousands)Amortized
Cost		Unrealized
Gains		Unrealized
Losses		Fair
Value
Mortgage-backed securities (MBS):
Agency1
$27,024 $— $(3,077)$23,947 
Non-agency2
210,271 711 (5,977)205,005 
Total mortgage-backed securities237,295 711 (9,054)228,952 
Municipal3,656 — (258)3,398 
Total available-for-sale securities
$240,951 $711 $(9,312)$232,350 
1 Includes securities guaranteed by Ginnie Mae, a U.S. government agency, and the government sponsored enterprises Fannie Mae and Freddie Mac.
2 Private sponsors of securities collateralized primarily by first-lien mortgage loans on commercial properties or by pools of 1-4 family residential first mortgages. Primarily super senior securities secured by Alt-A or pay-option ARM mortgages.
The following table sets forth the expected maturity distribution of our mortgage-backed securities, which is based on assumed prepayment rates, and the maturity distribution of our municipal securities, which is based on the contractual maturity:
As of March 31, 2024
(Dollars in thousands)Total AmountDue Within One YearDue after One but within Five YearsDue after Five but within Ten YearsDue After Ten Years
MBS:
Agency$30,121 $7,085 $13,840 $6,950 $2,246 
Non-Agency$177,236 $153,214 $21,652 $1,322 $1,048 
Total MBS$207,357 $160,299 $35,492 $8,272 $3,294 
Municipal$3,754 $— $— $— $3,754 
Available-for-sale—Amortized cost
$211,111 $160,299 $35,492 $8,272 $7,048 
Available-for-sale—Fair value$207,582 $158,860 $34,292 $7,794 $6,636 
Schedule of Securities in a Continuous Unrealized Loss Position
Securities in an unrealized loss position based on the length of time the individual securities have been in a continuous unrealized loss position were:
March 31, 2024
Available-for-sale securities in loss position for
Less Than
12 Months		More Than
12 Months		Total
(Dollars in thousands)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
MBS:
Agency
$2,650 $(26)$19,725 $(2,736)$22,375 $(2,762)
Non-agency10,407 (27)133,506 (1,480)143,913 (1,507)
Total MBS13,057 (53)153,231 (4,216)166,288 (4,269)
Municipal— — 3,422 (332)3,422 (332)
Total available-for-sale securities
$13,057 $(53)$156,653 $(4,548)$169,710 $(4,601)
June 30, 2023
Available-for-sale securities in loss position for
Less Than
12 Months		More Than
12 Months		Total
(Dollars in thousands)Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
MBS:
Agency
$3,182 $(16)$20,642 $(3,061)$23,824 $(3,077)
Non-agency107,982 (1,808)95,385 (4,169)203,367 (5,977)
Total MBS111,164 (1,824)116,027 (7,230)227,191 (9,054)
Municipal— — 3,398 (258)3,398 (258)
Total available-for-sale securities
$111,164 $(1,824)$119,425 $(7,488)$230,589 $(9,312)
Schedule of Components of Other Comprehensive Income (Loss)
The components of the Company’s accumulated other comprehensive income (loss) are as follows:
(Dollars in thousands)March 31,
2024		June 30,
2023
Available-for-sale securities—net unrealized gains (losses)
$(3,529)$(8,601)
Available-for-sale securities—non-credit related
(845)(845)
Subtotal(4,374)(9,446)
Tax benefit (expense)1,310 2,836 
Net unrealized gain (loss) on investment securities in accumulated other comprehensive income (loss)$(3,064)$(6,610)