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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net Income $ 24,325 $ 21,179
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 647 622
Deferred income tax expense (benefit) 146 (60)
Net amortization of investment premiums and discounts 1,951 2,523
Net amortization (accretion) of deferred loan costs and fees 197 (2,934)
Amortization of subordinated debt issuance costs 139 118
Provision for loan losses (1,199) 2,431
Bank-owned life insurance income (1,020) (939)
Net loss on sale of available-for-sale securities 251 0
Net (gain) loss on equity securities (22) 11
Net loss (gain) on sale of foreclosed real estate 5 (39)
Net decrease in accrued income taxes (2,089) (303)
Net increase in accrued interest receivable (5,075) (1,714)
Net increase in prepaid expenses and other assets (767) (373)
Net increase in accrued expense and other liabilities 239 625
Net cash provided by operating activities 17,728 21,147
Securities available-for-sale:    
Proceeds from maturities 180,225 172,614
Proceeds from sale of securities 1,675 0
Purchases of securities (104,456) (229,025)
Proceeds from principal payments on securities 10,446 17,828
Securities held-to-maturity:    
Proceeds from maturities 49,576 31,102
Purchases of securities (42,060) (281,518)
Proceeds from principal payments on securities 16,133 16,324
Net redemption of Federal Home Loan Bank Stock 5,342 0
Purchase of long-term certificates of deposit (1,225) 0
Maturity of long-term certificates of deposit 735 425
Purchase of bank-owned life insurance 0 (12,000)
Net increase in loans receivable (158,426) (47,110)
Proceeds from sale of foreclosed real estate 63 75
Purchases of premises and equipment (817) (758)
Net cash used in investing activities (42,789) (332,043)
Cash flows from financing activities    
Net decrease in short-term FHLB advances (123,700) 0
Net decrease in short-term advances other banks 0 (3,000)
Proceeds from subordinated notes payable 0 29,501
Payment of cash dividends (1,645) (1,527)
Net increase in deposits 259,719 286,762
Net cash provided by financing activities 134,374 311,736
Net decrease in cash and cash equivalents 109,313 840
Cash and cash equivalents at beginning of period 69,009 149,775
Cash and cash equivalents at end of period 178,322 150,615
Non-cash investing activities:    
Foreclosed loans transferred to foreclosed real estate 462 40
Cash paid during period for:    
Interest 14,415 4,002
Income taxes $ 6,248 $ 4,152