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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Net Income $ 16,328 $ 14,027
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 573 539
Deferred income tax benefit (535) (285)
Net amortization of investment premiums and discounts 2,657 625
Net (accretion) amortization of deferred loan costs and fees (2,498) 386
Amortization of subordinated debt issuance costs 45 0
Provision for loan losses 3,939 2,666
Bank owned life insurance income (173) 0
Net (gain) loss on equity securities (19) 15
Net gain on sale of foreclosed real estate (92) (19)
Net (decrease) increase in accrued income taxes (2,817) 762
Net increase in accrued interest receivable (925) (1,653)
Net increase in prepaid expenses and other assets (1,699) (1,944)
Net increase in other liabilities 1,055 2,687
Net cash provided by operating activities 15,839 17,806
Securities available-for-sale:    
Proceeds from maturities 147,554 70,520
Purchases of securities (349,067) (164,360)
Principal payments on securities 17,105 7,329
Securities held-to-maturity:    
Proceeds from maturities 21,478 22,873
Purchases of securities (129,761) (121,783)
Principal payments on securities 46,619 20,127
Net redemption of Federal Home Loan Bank Stock 342 563
Maturity of long term certificates of deposit 735 245
Purchase of long term certificates of deposit (1,229) (1,441)
Purchase of bank owned life insurance (40,000) 0
Net increase in loans receivable (76,717) (101,264)
Proceeds from sale of foreclosed real estate 232 287
Purchases of premises and equipment (891) (650)
Net cash used by investing activities (363,600) (267,554)
Cash flows from financing activities:    
Repayment of long-term FHLB advances (7,600) (4,500)
Net proceeds from subordinated notes payable 19,577 0
Payment of cash dividends (1,962) (1,808)
Purchase of treasury stock 0 (631)
Net increase in deposits 458,954 308,963
Net cash provided by financing activities 453,085 298,024
Net increase in cash and cash equivalents 105,324 48,276
Cash and cash equivalents at beginning of period 40,463 29,538
Cash and cash equivalents at end of period 145,787 77,814
Non-cash investing activities:    
Foreclosed loans transferred to foreclosed real estate 300 215
Cash paid during period for:    
Interest 4,084 6,675
Income taxes 5,873 1,904
FHLB [Member]    
Cash flows from financing activities:    
Net (decrease) increase in short-term advances 0 (8,000)
Other Banks [Member]    
Cash flows from financing activities:    
Net (decrease) increase in short-term advances $ (15,884) $ 4,000