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Loans and Allowance for Credit Losses on Loans (Tables)

3 Months Ended

Sep. 30, 2025

Loans and Allowance for Credit Losses on Loans [Abstract]

Loan segments are summarized below as of the dates indicated:


(In thousands)		September 30, 2025			June 30, 2025
Residential real estate	$	416,463		$	417,719
Commercial real estate		1,086,848			1,054,504
Home equity		37,221			34,103
Consumer		4,336			4,311
Commercial		125,979			116,769
Total gross loans(1)(2)		1,670,847			1,627,406
Allowance for credit losses on loans		(21,292	)		(20,146	)
Loans receivable, net	$	1,649,555		$	1,607,260

(1)

Loan balances include net deferred fees/(costs) of ($583,000) and ($567,000) at September 30, 2025 and June 30, 2025, respectively.

(2)

Loan balances exclude accrued interest receivable of $7.2 million and $7.0 million at September 30, 2025 and June 30, 2025, respectively, which is included in accrued interest receivable in the consolidated statement of financial condition.

Delinquent and/or Nonaccrual Loans by Past Due Status

The following table sets forth information regarding delinquent and/or non-accrual loans as of September 30, 2025:




(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	$	-	$	821	$	1,300	$	2,121	$	414,342	$	416,463	$	2,630
Commercial real estate		-		32		347		379		1,086,469		1,086,848		600
Home equity		10		-		29		39		37,182		37,221		221
Consumer		42		2		-		44		4,292		4,336		-
Commercial		-		48		110		158		125,821		125,979		110
Total gross loans	$	52	$	903	$	1,786	$	2,741	$	1,668,106	$	1,670,847	$	3,561

The following table sets forth information regarding delinquent and/or non-accrual loans as of June 30, 2025:



(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	$	-	$	775	$	1,362	$	2,137	$	415,582	$	417,719	$	2,265
Commercial real estate		-		209		367		576		1,053,928		1,054,504		628
Home equity		85		13		30		128		33,975		34,103		30
Consumer		20		3		2		25		4,286		4,311		2
Commercial		-		-		106		106		116,663		116,769		135
Total gross loans	$	105	$	1,000	$	1,867	$	2,972	$	1,624,434	$	1,627,406	$	3,060

Activity and Allocation of Allowance for Loan Losses

The following tables set forth the activity and allocation of the allowance for credit losses on loans by segment:


		Activity for the three months ended September 30, 2025
(In thousands)		Residential real estate		Commercial real estate		Home equity		Consumer			Commercial		Total
Balance at June 30, 2025	$	4,613	$	12,614	$	260	$	381		$	2,278	$	20,146
Charge-offs		-		-		-		(94	)		-		(94	)
Recoveries		-		1		-		33			-		34
Provision		87		855		51		39			174		1,206
Balance at September 30, 2025	$	4,700	$	13,470	$	311	$	359		$	2,452	$	21,292


		Activity for the three months ended September 30, 2024
(In thousands)		Residential real estate			Commercial real estate			Home equity			Consumer			Commercial			Total
Balance at June 30, 2024	$	4,237		$	12,218		$	212		$	500		$	2,077		$	19,244
Charge-offs		(44	)		(5	)		(13	)		(77	)		(6	)		(145	)
Recoveries		2			1			-			19			9			31
Provision		280			434			33			12			(108	)		651
Balance at September 30, 2024	$	4,475		$	12,648		$	232		$	454		$	1,972		$	19,781

Loan Balances by Internal Credit Quality Indicator

The following tables present the amortized cost basis of the Company’s loans by class and vintage and includes gross charge-offs by loan class and vintage as of the three months ended September 30, 2025:





	At September 30, 2025
	Term loans amortized cost basis by origination year													Revolving loans amortized cost basis		Revolving loans converted to term		Total
(In thousands)		2026		2025		2024		2023		2022		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Residential real estate
By payment activity status:
Performing	$	8,357	$	44,125	$	54,851	$	55,652	$	82,911	$	167,937	$	-	$	-	$	413,833
Non-performing		-		-		-		-		55		2,575		-		-		2,630
Total residential real estate		8,357		44,125		54,851		55,652		82,966		170,512		-		-		416,463
Current period gross charge-offs		-		-		-		-		-		-		-		-		-

Commercial real estate
By internally assigned grade:
Pass		33,836		205,167		125,380		173,171		226,434		289,038		3,366		254		1,056,646
Special mention		-		-		479		1,327		651		3,540		-		-		5,997
Substandard		-		-		-		9,009		160		14,962		-		74		24,205
Total commercial real estate		33,836		205,167		125,859		183,507		227,245		307,540		3,366		328		1,086,848
Current period gross charge-offs		-		-		-		-		-		-		-		-		-

Home equity
By payment activity status:
Performing		607		2,687		4,435		2,254		217		1,120		25,557		123		37,000
Non-performing		-		-		-		-		-		12		209		-		221
Total home equity		607		2,687		4,435		2,254		217		1,132		25,766		123		37,221
Current period gross charge-offs		-		-		-		-		-		-		-		-		-

Consumer
By payment activity status:
Performing		881		1,149		1,185		605		273		172		71		-		4,336
Non-performing		-		-		-		-		-		-		-		-		-
Total Consumer		881		1,149		1,185		605		273		172		71		-		4,336
Current period gross charge-offs		86		8		-		-		-		-		-		-		94

Commercial
By internally assigned grade:
Pass		11,546		11,110		10,175		7,749		4,355		26,110		47,620		-		118,665
Special mention		-		-		-		-		40		293		148		-		481
Substandard		-		-		-		11		6,247		547		4		24		6,833
Total Commercial	$	11,546	$	11,110	$	10,175	$	7,760	$	10,642	$	26,950	$	47,772	$	24	$	125,979
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

The following tables present the amortized cost basis of the Company’s loans by class and vintage and includes gross charge-offs by loan class and vintage as of the twelve months ended June 30, 2025:




	At June 30, 2025
(In thousands)	Term loans amortized cost basis by origination year													Revolving loans amortized cost basis		Revolving loans converted to term		Total
(In thousands)		2025		2024		2023		2022		2021		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Residential real estate
By payment activity status:
Performing	$	42,672	$	55,665	$	58,277	$	85,153	$	71,560	$	102,127	$	-	$	-	$	415,454
Non-performing		-		-		-		56		-		2,209		-		-		2,265
Total residential real estate		42,672		55,665		58,277		85,209		71,560		104,336		-		-		417,719
Current period gross charge-offs		-		-		-		-		44		-		-		-		44

Commercial real estate
By internally assigned grade:
Pass		192,619		120,883		177,469		228,960		116,680		177,025		3,913		5,032		1,022,581
Special mention		-		479		1,339		656		263		4,747		-		-		7,484
Substandard		-		-		9,078		-		209		14,942		-		210		24,439
Total commercial real estate		192,619		121,362		187,886		229,616		117,152		196,714		3,913		5,242		1,054,504
Current period gross charge-offs		-		-		-		-		-		5		-		-		5

Home equity
By payment activity status:
Performing		2,753		4,761		2,437		229		315		791		22,637		150		34,073
Non-performing		-		-		-		-		-		-		30		-		30
Total home equity		2,753		4,761		2,437		229		315		791		22,667		150		34,103
Current period gross charge-offs		-		-		-		-		-		-		13		-		13

Consumer
By payment activity status:
Performing		1,631		1,371		689		346		149		51		72		-		4,309
Non-performing		2		-		-		-		-		-		-		-		2
Total Consumer		1,633		1,371		689		346		149		51		72		-		4,311
Current period gross charge-offs		335		40		-		10		1		-		-		-		386

Commercial
By internally assigned grade:
Pass		11,917		11,031		8,157		4,584		12,482		15,106		45,905		68		109,250
Special mention		-		-		-		50		-		93		238		183		564
Substandard		-		-		-		6,279		30		568		78		-		6,955
Total Commercial	$	11,917	$	11,031	$	8,157	$	10,913	$	12,512	$	15,767	$	46,221	$	251	$	116,769
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	38	$	28	$	-	$	66

Loans Modified to Borrowers Experiencing Financial Difficulty by type of Concession Granted

The following tables present the amortized cost basis of the loans modified to borrowers experiencing financial difficulty by type of concession granted:


	For the three months ended September 30, 2025
		Term extension
(Dollars in thousands)		Amortized cost	Percentage of total class
Commercial real estate	$	74	0.01	%
Total	$	74

Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty

The following table presents the financial effect of the modifications made to borrowers experiencing financial difficulty:


		For the three months ended September 30, 2025
Loan type		Term extension
Commercial real estate		39-month term extension

Loans Modified to Borrowers Experiencing Financial Difficulty

The following table depicts the performance of loans that have been modified to borrowers experiencing financial difficulty that were modified in the prior twelve months at amortized cost basis:


	At September 30, 2025
(In thousands)		Current		30-59 days past due		60-89 days past due		90 days or more past due		Total
Commercial real estate	$	2,872	$	-	$	-	$	-	$	2,872
Total	$	2,872	$	-	$	-	$	-	$	2,872


		At September 30, 2024
(In thousands)		Current		30-59 days past due		60-89 days past due		90 days or more past due		Total
Commercial real estate	$	4,077	$	-	$	-	$	-	$	4,077
Consumer		18		-		-		-		18
Total	$	4,095	$	-	$	-	$	-	$	4,095