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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net Income $ 21,179 $ 16,328
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 622 573
Deferred income tax benefit (60) (535)
Net amortization of investment premiums and discounts 2,523 2,657
Net accretion amortization of deferred loan costs and fees (2,934) (2,498)
Amortization of subordinated debt issuance costs 118 45
Provision for loan losses 2,431 3,939
Bank owned life insurance income (939) (173)
Net loss (gain) on equity securities 11 (19)
Gain on sale of foreclosed real estate (39) (92)
Net decrease in accrued income taxes (303) (2,817)
Net increase in accrued interest receivable (1,714) (925)
Net increase in prepaid expenses and other assets (373) (1,699)
Net increase in other liabilities 625 1,055
Net cash provided by operating activities 21,147 15,839
Securities available-for-sale:    
Proceeds from maturities 172,614 147,554
Purchases of securities (229,025) (349,067)
Principal payments on securities 17,828 17,105
Securities held-to-maturity:    
Proceeds from maturities 31,102 21,478
Purchases of securities (281,518) (129,761)
Principal payments on securities 16,324 46,619
Net (purchase) redemption of Federal Home Loan Bank Stock 0 342
Maturity of long term certificates of deposit 425 735
Purchase of long term certificates of deposit 0 (1,229)
Purchase of bank owned life insurance (12,000) (40,000)
Net increase in loans receivable (47,110) (76,717)
Proceeds from sale of foreclosed real estate 75 232
Purchases of premises and equipment (758) (891)
Net cash used by investing activities (332,043) (363,600)
Cash flows from financing activities:    
Net decrease in short-term advances other banks (3,000) (15,884)
Repayment of long-term FHLB advances 0 (7,600)
Net proceeds from subordinated notes payable 29,501 19,577
Payment of cash dividends (1,527) (1,962)
Net increase in deposits 286,762 458,954
Net cash provided by financing activities 311,736 453,085
Net increase in cash and cash equivalents 840 105,324
Cash and cash equivalents at beginning of period 149,775 40,463
Cash and cash equivalents at end of period 150,615 145,787
Non-cash investing activities:    
Foreclosed loans transferred to foreclosed real estate 40 300
Cash paid during period for:    
Interest 4,002 4,084
Income taxes $ 4,152 $ 5,873