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Loans and Allowance for Loan Losses (Tables)
 3 Months Ended
Sep. 30, 2022
Loans and Allowance for Loan Losses [Abstract]  
Major Loan Segments and Classes
Loan segments and classes at September 30, 2022 and June 30, 2022 are summarized as follows:

(In thousands)
  
September 30, 2022
    
June 30, 2022
  
Residential real estate:
            
Residential real estate
  
$
368,142
    
$
360,824
  
Residential construction and land
    
18,226
      
15,298
  
Multi-family
    
67,088
      
63,822
  
Commercial real estate:
                
Commercial real estate
    
677,622
      
595,635
  
Commercial construction
    
81,599
      
83,748
  
Consumer loan:
                
Home equity
    
19,520
      
17,877
  
Consumer installment
    
4,546
      
4,512
  
Commercial loans
    
113,186
      
110,271
  
Total gross loans
    
1,349,929
      
1,251,987
  
Allowance for loan losses
    
(22,147
)
    
(22,761
)
Deferred fees and cost, net
    
69
      
129
  
Loans receivable, net
  
$
1,327,851
    
$
1,229,355
  
Loan Balances by Internal Credit Quality Indicator
Loan balances by internal credit quality indicator at September 30, 2022 are shown below.

(In thousands)
  
Performing
    
Special
Mention
    
Substandard
    
Total
  
Residential real estate
  
$
362,984
    
$
25
    
$
5,133
    
$
368,142
  
Residential construction and land
    
18,226
      
-
      
-
      
18,226
  
Multi-family
    
66,998
      
90
      
-
      
67,088
  
Commercial real estate
    
642,999
      
8,758
      
25,865
      
677,622
  
Commercial construction
    
81,599
      
-
      
-
      
81,599
  
Home equity
    
19,013
      
-
      
507
      
19,520
  
Consumer installment
    
4,536
      
-
      
10
      
4,546
  
Commercial loans
    
108,033
      
579
      
4,574
      
113,186
  
Total gross loans
  
$
1,304,388
    
$
9,452
    
$
36,089
    
$
1,349,929
  

Loan balances by internal credit quality indicator at June 30, 2022 are shown below.

(In thousands)
  
Performing
    
Special
Mention
    
Substandard
    
Total
  
Residential real estate
  
$
355,474
    
$
28
    
$
5,322
    
$
360,824
  
Residential construction and land
    
15,297
      
-
      
1
      
15,298
  
Multi-family
    
63,730
      
92
      
-
      
63,822
  
Commercial real estate
    
555,451
      
13,777
      
26,407
      
595,635
  
Commercial construction
    
83,748
      
-
      
-
      
83,748
  
Home equity
    
17,369
      
-
      
508
      
17,877
  
Consumer installment
    
4,500
      
-
      
12
      
4,512
  
Commercial loans
    
104,364
      
996
      
4,911
      
110,271
  
Total gross loans
  
$
1,199,933
    
$
14,893
    
$
37,161
    
$
1,251,987
  
Delinquent and/or Nonaccrual Loans by Past Due Status
The following table sets forth information regarding delinquent and/or nonaccrual loans at September 30, 2022:

(In thousands)
  
30-59
days
past due
    
60-89
days
past due
    
90 days
or more
past due
    
Total
past due
    
Current
    
Total Loans
    
Loans on
Non-
accrual
  
Residential real estate
  
$
-
    
$
1,680
    
$
389
    
$
2,069
    
$
366,073
    
$
368,142
    
$
2,733
  
Residential construction and land
    
-
      
-
      
-
      
-
      
18,226
      
18,226
      
-
  
Multi-family
    
-
      
-
      
-
      
-
      
67,088
      
67,088
      
-
  
Commercial real estate
    
-
      
90
      
123
      
213
      
677,409
      
677,622
      
796
  
Commercial construction
    
-
      
-
      
-
      
-
      
81,599
      
81,599
      
-
  
Home equity
    
48
      
39
      
140
      
227
      
19,293
      
19,520
      
187
  
Consumer installment
    
30
      
1
      
-
      
31
      
4,515
      
4,546
      
-
  
Commercial loans
    
-
      
94
      
34
      
128
      
113,058
      
113,186
      
1,715
  
Total gross loans
  
$
78
    
$
1,904
    
$
686
    
$
2,668
    
$
1,347,261
    
$
1,349,929
    
$
5,431
  

The following table sets forth information regarding delinquent and/or nonaccrual loans at June 30, 2022:

(In thousands)
  
30-59
days
past due
    
60-89
days
past due
    
90 days
or more
past due
    
Total
past due
    
Current
    
Total Loans
    
Loans on
Non-
accrual
  
Residential real estate
  
$
66
    
$
1,676
    
$
592
    
$
2,334
    
$
358,490
    
$
360,824
    
$
2,948
  
Residential construction and land
    
-
      
1
      
-
      
1
      
15,297
      
15,298
      
1
  
Multi-family
    
-
      
-
      
-
      
-
      
63,822
      
63,822
      
-
  
Commercial real estate
    
-
      
385
      
1,147
      
1,532
      
594,103
      
595,635
      
1,269
  
Commercial construction
    
-
      
-
      
-
      
-
      
83,748
      
83,748
      
-
  
Home equity
    
3
      
-
      
179
      
182
      
17,695
      
17,877
      
188
  
Consumer installment
    
22
      
17
      
-
      
39
      
4,473
      
4,512
      
7
  
Commercial loans
    
-
      
28
      
19
      
47
      
110,224
      
110,271
      
1,904
  
Total gross loans
  
$
91
    
$
2,107
    
$
1,937
    
$
4,135
    
$
1,247,852
    
$
1,251,987
    
$
6,317
  
Impaired Loans by Loan Portfolio Class
The tables below detail additional information on impaired loans at the date or periods indicated:

   
As of September 30, 2022
    
For the three months ended
September 30, 2022
  
(In thousands)
  
Recorded
Investment
    
Unpaid
Principal
    
Related
Allowance
   
Average
Recorded
Investment
    
Interest
Income Recognized
 
With no related allowance recorded:
                        
Residential real estate
  
$
1,004
    
$
1,004
    
$
-
    
$
986
    
$
9
  
Commercial real estate
    
60
      
60
      
-
      
63
      
2
  
Home equity
    
128
      
128
      
-
      
128
      
-
  
Consumer installment     5       5       -       5       -  
Commercial loans
    
343
      
343
      
-
      
344
      
4
  
Total impaired loans with no allowance
    
1,540
      
1,540
      
-
      
1,526
      
15
  
                                         
With an allowance recorded:
                                        
Residential real estate
    
1,932
      
1,932
      
578
      
1,939
      
9
  
Commercial real estate     3,214       3,214       1,070       3,229       44  
Commercial construction
    
102
      
102
      
1
      
102
      
-
  
Home equity
    
320
      
320
      
5
      
320
      
4
  
Commercial loans
    
2,926
      
2,926
      
993
      
3,008
      
58
  
Total impaired loans with allowance
    
8,494
      
8,494
      
2,647
      
8,598
      
115
  
                                         
Total impaired:
                                        
Residential real estate
    
2,936
      
2,936
      
578
      
2,925
      
18
  
Commercial real estate
    
3,274
      
3,274
      
1,070
      
3,292
      
46
  
Commercial construction
    
102
      
102
      
1
      
102
      
-
  
Home equity
    
448
      
448
      
5
      
448
      
4
  
Consumer installment     5       5       -       5       -  
Commercial loans
    
3,269
      
3,269
      
993
      
3,352
      
62
  
Total impaired loans
  
$
10,034
    
$
10,034
    
$
2,647
    
$
10,124
    
$
130
  

   
As of June 30, 2022
    
For the three months ended
September 30, 2021
  
(In thousands)
  
Recorded
Investment
    
Unpaid
Principal
    
Related
Allowance
    
Average
Recorded
Investment
    
Interest
Income Recognized
 
With no related allowance recorded:
            
Residential real estate
  
$
990
    
$
990
    
$
-
    
$
221
    
$
-
  
Commercial real estate
    
67
      
67
      
-
      
445
      
3
  
Home equity
    
128
      
128
      
-
     
128
      
-
  
Consumer installment
     5       5       -       -       -  
Commercial loans
    
346
      
346
      
-
      
98
      
-
  
Impaired loans with no allowance
    
1,536
      
1,536
      
-
      
892
     $
3
  
                                       
With an allowance recorded:
                                        
Residential real estate
    
1,953
      
1,953
      
588
      
718
      
5
  
Commercial real estate
    
3,698
      
3,698
      
1,118
      
780
      
10
  
Commercial construction
    
102
      
102
      
1
      
102
      
-
  
Home equity
    
320
      
320
      
44
      
321
      
3
  
Commercial Loans
    
3,162
      
3,162
      
596
      
3,228
      
40
  
Impaired loans with allowance
    
9,235
      
9,235
      
2,347
      
5,149
      
58
  
                                         
Total impaired:
                                        
Residential real estate
    
2,943
      
2,943
      
588
      
939
      
5
  
Commercial real estate
    
3,765
      
3,765
      
1,118
      
1,225
      
13
  
Commercial construction
    
102
      
102
      
1
      
102
      
-
  
Home equity
    
448
      
448
      
44
      
449
      
3
  
Consumer installment     5       5       -       -       -  
Commercial loans
    
3,508
      
3,508
      
596
      
3,326
      
40
  
Total impaired loans
  
$
10,771
    
$
10,771
    
$
2,347
    
$
6,041
    
$
61
  
Loans Modified as Troubled Debt Restructuring

The table below details loans that have been modified as a troubled debt restructuring during the periods indicated.

(Dollars in thousands)
  
Number of
Contracts
    
Pre-Modification
Outstanding
Recorded
Investment
    
Post-Modification
Outstanding
Recorded
Investment
    
Current
outstanding
Recorded
Investment
  
For the three months ended September 30,2022
                        
Residential real estate
     2
    
$
 778
    
$
 778
     $ 778
  
Commercial loan
     1
     $
379
     $
379
     $
379
  
                                 
For the year ended June 30,2022                                
Consumer Installment
    1
     $
5
     $
5
     $
5
  
Activity and Allocation of Allowance for Loan Losses
The following tables set forth the activity and allocation of the allowance for loan losses by loan class during and at the periods indicated. The allowance is allocated to each loan class based on historical loss experience, current economic conditions, and other considerations.

   
Activity for the three months ended September 30, 2022
  
(In thousands)
  
Balance at
June 30,
 2022
    
Charge-offs
    
Recoveries
    
Provision
    
Balance at
September 30,
2022
  
Residential real estate
  
$
2,373
    
$
-
    
$
3
    
$
95
    
$
2,471
  
Residential construction and land
    
141
      
-
      
-
      
36
      
177
  
Multi-family
    
119
      
-
      
-
      
40
      
159
  
Commercial real estate
    
16,221
      
-
      
-
      
(829
)
    
15,392
  
Commercial construction
    
1,114
      
-
      
-
      
(70
)
    
1,044
  
Home equity
    
89
      
-
      
-
      
(45
)
    
44
  
Consumer installment
    
349
      
167
      
46
      
46
      
274
  
Commercial loans
    
2,355
      
4
      
7
      
228
      
2,586
  
Total
  
$
22,761
    
$
171
    
$
56
    
$
(499
)
  
$
22,147
  

   
Allowance for Loan Losses
    
Loans Receivable
  
   
Ending Balance At September 30, 2022
Impairment Analysis
    
Ending Balance At September 30, 2022
Impairment Analysis
  
(In thousands)
  
Individually
Evaluated
    
Collectively
Evaluated
    
Individually
Evaluated
    
Collectively
Evaluated
  
Residential real estate
  
$
578
    
$
1,893
    
$
2,936
    
$
365,206
  
Residential construction and land
    
-
      
177
      
-
      
18,226
  
Multi-family
    
-
      
159
      
-
      
67,088
  
Commercial real estate
    
1,070
      
14,322
      
3,274
      
674,348
  
Commercial construction
    
1
      
1,043
      
102
      
81,497
  
Home equity
    
5
      
39
      
448
      
19,072
  
Consumer installment
    
-
      
274
      
5
      
4,541
  
Commercial loans
    
993
      
1,593
      
3,269
      
109,917
  
Total
  
$
2,647
    
$
19,500
    
$
10,034
    
$
1,339,895
  

   
Activity for the three months ended September 30, 2021
  
(In thousands)
  
Balance at June
30, 2021
    
Charge-offs
    
Recoveries
    
Provision
    
Balance at
September 30,
2021
  
Residential real estate
  
$
2,012
    
$
-
    
$
-
    
$
(15
)
  
$
1,997
  
Residential construction and land
    
106
      
-
      
-
      
14
      
120
  
Multi-family
    
186
      
-
      
-
      
(86
)
    
100
  
Commercial real estate
    
13,049
      
-
      
-
      
1,249
      
14,298
  
Commercial construction
    
1,535
      
-
      
-
      
(337
)
    
1,198
  
Home equity
    
165
      
-
      
-
      
(25
)
    
140
  
Consumer installment
    
267
      
104
      
37
      
90
      
290
  
Commercial loans
    
2,348
      
97
      
1
      
98
      
2,350
  
Total
  
$
19,668
    
$
201
    
$
38
    
$
988
    
$
20,493
  


   
Allowance for Loan Losses
    
Loans Receivable
  
   
Ending Balance June 30, 2022
Impairment Analysis
    
Ending Balance June 30, 2022
Impairment Analysis
  
(In thousands)
  
Individually
Evaluated
    
Collectively
Evaluated
    
Individually
Evaluated
    
Collectively
Evaluated
  
Residential real estate
  
$
588
    
$
1,785
    
$
2,943
    
$
357,881
  
Residential construction and land
    
-
      
141
      
-
      
15,298
  
Multi-family
    
-
      
119
      
-
      
63,822
  
Commercial real estate
    
1,118
      
15,103
      
3,765
      
591,870
  
Commercial construction
    
1
      
1,113
      
102
      
83,646
  
Home equity
    
44
      
45
      
448
      
17,429
  
Consumer installment
    
-
      
349
      
5
      
4,507
  
Commercial loans
    
596
      
1,759
      
3,508
      
106,763
  
Total
  
$
2,347
    
$
20,414
    
$
10,771
    
$
1,241,216
  
Foreclosed Real Estate The following table sets forth information regarding FRE at:

(in thousands)
  
September 30, 2022
    
June 30, 2022
  
Residential real estate
  
$
-
    
$
68
  
Total foreclosed real estate
  
$
-
    
$
68