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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net Income $ 23,942 $ 18,727
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 775 713
Deferred income tax benefit (2,066) (1,026)
Net amortization of investment premiums and discounts 3,573 1,228
Net (accretion) amortization of deferred loan costs and fees (3,767) 510
Amortization of subordinated debt issuance costs 67 0
Provision for loan losses 3,974 3,905
Bank owned life insurance income (425) 0
Net gain on equity securities (40) (14)
Net gain on sale of foreclosed real estate (66) (19)
Net (decrease) increase in accrued income taxes (565) 936
Net decrease (increase) in accrued interest receivable 426 (2,354)
Net increase in prepaid expenses and other assets (934) (1,527)
Net increase in accrued expenses and other liabilities 2,859 5,644
Net cash provided by operating activities 27,753 26,723
Securities available-for-sale:    
Proceeds from maturities 217,201 122,384
Purchases of securities (412,520) (234,196)
Principal payments on securities 27,276 8,794
Securities held-to-maturity:    
Proceeds from maturities 41,138 34,240
Purchases of securities (214,120) (157,297)
Principal payments on securities 58,133 42,661
Net redemption of Federal Home Loan Bank Stock 135 533
Purchase of long term certificates of deposit (1,231) (1,440)
Maturity of long term certificate of deposit 735 245
Purchase of bank owned life insurance (40,000) 0
Net increase in loans receivable (92,932) (212,414)
Proceeds from sale of foreclosed real estate 302 287
Purchases of premises and equipment (1,254) (1,116)
Net cash used in investing activities (417,137) (397,319)
Cash flows from financing activities:    
Net decrease in short-term FHLB advances 0 (8,000)
Net (decrease) increase in short-term advances from other banks (14,884) 17,884
Repayment of long-term FHLB advances (7,600) (6,000)
Net proceeds from subordinated notes payable 19,577 0
Purchase of treasury stock 0 (631)
Payment of cash dividends (2,430) (2,238)
Net increase in deposits 504,033 380,506
Net cash provided by financing activities 498,696 381,521
Net increase in cash and cash equivalents 109,312 10,925
Cash and cash equivalents at beginning of year 40,463 29,538
Cash and cash equivalents at end of year 149,775 40,463
Non-cash investing activities:    
Foreclosed loans transferred to other real estate 300 215
Cash paid during period for:    
Interest 4,956 8,472
Income taxes $ 6,304 $ 3,119