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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities:    
Net Income $ 14,027 $ 13,320
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 539 481
Deferred income tax benefit (285) (563)
Net amortization of premiums and discounts 625 214
Net amortization of deferred loan costs and fees 386 358
Provision for loan losses 2,666 1,058
Net loss (gain) on equity securities 15 (20)
Net (gain) loss on sale of foreclosed real estate (19) 34
Net increase in accrued income taxes 762 899
Net increase in accrued interest receivable (1,653) (1,068)
Net increase in prepaid and other assets (1,944) (489)
Net increase in accrued expenses and other liabilities 2,687 929
Net cash provided by operating activities 17,806 15,153
Securities available-for-sale:    
Proceeds from maturities 70,520 77,974
Purchases of securities (164,360) (62,996)
Principal payments on securities 7,329 2,335
Securities held-to-maturity:    
Proceeds from maturities 22,873 13,007
Purchases of securities (121,783) (50,591)
Principal payments on securities 20,127 20,488
Net redemption of Federal Home Loan Bank Stock 563 247
Purchase of long term certificate of deposit (1,441) (735)
Maturity of long term certificates of deposit 245 245
Net increase in loans receivable (101,264) (60,304)
Proceeds from sale of foreclosed real estate 287 65
Purchases of premises and equipment (650) (370)
Net cash used by investing activities (267,554) (60,635)
Cash flows from financing activities    
Net decrease in short-term FHLB advances (8,000) 0
Repayment of long-term FHLB advances (4,500) (5,500)
Net increase in short-term advances from other banks 4,000 0
Payment of cash dividends (1,808) (1,644)
Purchase of treasury stock (631) 0
Net increase in deposits 308,963 114,544
Net cash provided by financing activities 298,024 107,400
Net increase in cash and cash equivalents 48,276 61,918
Cash and cash equivalents at beginning of period 29,538 26,504
Cash and cash equivalents at end of period 77,814 88,422
Non-cash investing activities:    
Foreclosed loans transferred to foreclosed real estate 215 34
Cash paid during period for:    
Interest 6,675 4,423
Income taxes $ 1,904 $ 2,473