Operating leases

9 Months Ended

Mar. 31, 2025

Operating leases [Abstract]

Operating leases

(12)         Operating leases

The Company leases certain branch properties under long-term operating lease agreements. The Company’s operating lease agreements contain non-lease components, which are accounted for separately. The Company’s lease agreements do not contain any residual value guarantee.

The following includes quantitative data related to the Company’s operating leases at March 31, 2025 and June 30, 2024, and for the three and nine months ended March 31, 2025 and 2024:

(In thousands)
Operating lease amounts:	March 31, 2025		June 30, 2024
Right-of-use assets	$	1,863	$	2,071
Lease liabilities	$	1,946	$	2,159

	For the three months ended March 31,
(In thousands)	2025		2024
Other information:
Operating outgoing cash flows from operating leases	$	126	$	118
Right-of-use assets obtained in exchange for new operating lease liabilities		-		251
Lease costs:
Operating lease cost	$	113	$	105
Variable lease cost	$	11	$	11

	For the nine months ended March 31,
(In thousands)	2025			2024
Other information:
Operating outgoing cash flows from operating leases	$	376	$	346
Right-of-use assets obtained in exchange for new operating lease liabilities	$	117	$	251
Lease costs:
Operating lease cost	$	340	$	313
Variable lease cost	$	33	$	33

The following is a schedule by year of the undiscounted cash flows of the operating lease liabilities as of March 31, 2025:

(In thousands, except weighted-average information)
Within the twelve months ended March 31,
2025	$	510
2026		492
2027		409
2028		292
2029		232
Thereafter		167
Total undiscounted cash flow		2,102
Less net present value adjustment		(156)
Lease liability	$	1,946
Weighted-average remaining lease term (years)		4.66
Weighted-average discount rate		3.18	%

Right-of-use assets are included in prepaid expenses and other assets, and lease liabilities are included in accrued expenses and other liabilities within the Company’s consolidated statements of financial condition.