Condensed Parent Company Only Financial Statements (Tables)

12 Months Ended

Jun. 30, 2022

Condensed Parent Company Only Financial Statements

Parent Company Condensed Balance Sheets

	June 30,
(dollars in thousands)	2022		2021
Condensed Balance Sheets
Assets
Cash and cash equivalents	$	8,964	$	1,193
Other assets		28,691		14,380
Investment in common stock of Bank		306,549		283,500
TOTAL ASSETS	$	344,204	$	299,073
Liabilities and Stockholders' Equity
Accrued expenses and other liabilities	$	377	$	407
Subordinated debt		23,055		15,243
TOTAL LIABILITIES		23,432		15,650
Stockholders' equity		320,772		283,423
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	344,204	$	299,073

Parent Company Condensed Statements of Income

Parent Company Condensed Statements of Cash Flows

	Year ended June 30,
(dollars in thousands)	2022		2021		2020
Condensed Statements of Cash Flow
Cash Flows from operating activities:
Net income	$	47,169	$	47,180	$	27,545
Changes in:
Equity in undistributed income of the Bank		(17,644)		(36,065)		4,469
Other adjustments, net		(698)		(559)		(904)
NET CASH PROVIDED BY OPERATING ACTIVITES		28,827		10,556		31,110
Investments in Bank subsidiaries		(8,024)		—		(20,463)
NET CASH USED IN INVESTING ACTIVITIES		(8,024)		—		(20,463)
Cash flows from financing activities:
Dividends on common stock		(7,194)		(5,598)		(5,513)
Exercise of stock options		—		—		64
Payments to acquire treasury stock		(5,838)		(8,341)		(5,771)
Repayments of long term debt		—		—		(3,000)
NET CASH USED IN FINANCING ACTIVITIES		(13,032)		(13,939)		(14,220)
Net increase (decrease) in cash and cash equivalents		7,771		(3,383)		(3,573)
Cash and cash equivalents at beginning of year		1,193		4,576		8,149
CASH AND CASH EQUIVALENTS AT END OF YEAR	$	8,964	$	1,193	$	4,576