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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 6 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Interest Income        
Loans $ 55,137,000 $ 36,993,000 $ 108,111,000 $ 70,173,000
Investment securities 1,776,000 778,000 3,489,000 1,443,000
Mortgage-backed securities 3,485,000 1,013,000 6,857,000 2,003,000
Other interest-earning assets 1,178,000 67,000 1,227,000 228,000
Total interest income 61,576,000 38,851,000 119,684,000 73,847,000
Interest Expense        
Deposits 25,571,000 8,594,000 46,011,000 14,356,000
Advances from FHLB 1,079,000 1,657,000 2,918,000 2,095,000
Subordinated debt 440,000 349,000 874,000 638,000
Total interest expense 27,090,000 10,600,000 49,803,000 17,089,000
Net Interest Income 34,486,000 28,251,000 69,881,000 56,758,000
Provision for Credit Losses 900,000 1,138,000 1,800,000 6,194,000
Net Interest Income After Provision for Credit Losses 33,586,000 27,113,000 68,081,000 50,564,000
Noninterest Income        
Deposit account charges and related fees 1,784,000 1,713,000 3,574,000 3,489,000
Bank card interchange income 1,329,000 1,079,000 2,673,000 2,097,000
Loan late charges 146,000 119,000 259,000 241,000
Loan servicing fees 285,000 257,000 515,000 569,000
Other loan fees 644,000 612,000 1,001,000 1,494,000
Net realized gains on sale of loans 304,000 127,000 517,000 419,000
Net realized losses on sale of AFS securities (682,000)   (682,000)  
Earnings on bank owned life insurance 472,000 319,000 931,000 637,000
Insurance brokerage commissions 310,000 293,000 573,000 550,000
Wealth management 668,000 430,000 1,463,000 778,000
Other income 380,000 507,000 668,000 696,000
Total noninterest income 5,640,000 5,456,000 11,492,000 10,970,000
Noninterest Expense        
Compensation and benefits 12,961,000 9,793,000 25,610,000 19,545,000
Occupancy and equipment, net 3,478,000 2,442,000 6,992,000 4,890,000
Data processing expense 2,382,000 1,430,000 4,690,000 2,875,000
Telecommunications expense 465,000 347,000 996,000 677,000
Deposit insurance premiums 598,000 263,000 1,147,000 478,000
Legal and professional fees 387,000 852,000 803,000 1,263,000
Advertising 392,000 216,000 857,000 665,000
Postage and office supplies 283,000 235,000 586,000 448,000
Intangibles amortization 1,018,000 402,000 2,035,000 803,000
Foreclosed property expenses (gains) 44,000 35,000 36,000 (6,000)
Other operating expense 1,852,000 1,623,000 3,816,000 2,919,000
Total noninterest expense 23,860,000 17,638,000 47,568,000 34,557,000
Income Before Income Taxes 15,366,000 14,931,000 32,005,000 26,977,000
Income Taxes 3,173,000 3,267,000 6,660,000 5,710,000
Net Income $ 12,193,000 $ 11,664,000 $ 25,345,000 $ 21,267,000
Basic earnings per share $ 1.08 $ 1.26 $ 2.24 $ 2.30
Diluted earnings per share 1.07 1.26 2.23 2.30
Dividends paid $ 0.21 $ 0.21 $ 0.42 $ 0.42