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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2018
Operating Activities:      
Net Income $ 22,783 $ 27,146 $ 8,235
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Provision for loan losses 8,500 5,700 0
Depreciation 5,856 4,243 3,810
Deferred income tax expense 5,196 5,346 26,121
Net amortization and accretion (5,352) (6,828) (5,950)
Gain on sale of premises and equipment 0 0 (164)
Loss on sale and impairment of REO 536 439 127
BOLI income (2,246) (2,103) (2,117)
Gain on sale of loans held for sale (9,946) (6,218) (4,276)
Origination of loans held for sale (377,741) (190,870) (143,755)
Proceeds from sales of loans held for sale 313,967 174,973 143,350
Increase (decrease) in deferred loan fees, net (187) (768) 181
Increase in accrued interest receivable and other assets (4,584) (4,835) (1,246)
Core deposit intangible amortization 1,421 2,029 2,645
ESOP compensation expense 1,195 1,422 1,367
Restricted stock and stock option expense 1,822 1,601 3,027
Increase in other liabilities (3,280) (3,649) (36)
Net cash provided by (used in) operating activities (42,060) 7,628 31,319
Investing Activities:      
Purchase of securities available for sale (77,228) (34,675) 0
Proceeds from maturities of securities available for sale 57,894 38,430 20,675
Purchase of commercial paper, net (57,535) (5,824) (75,202)
Purchase of certificates of deposit in other banks (32,949) (18,154) (17,201)
Maturities of certificates of deposit in other banks 29,265 33,086 82,538
Principal repayments of mortgage-backed securities 14,512 31,627 20,471
Net redemptions (purchases) of other investments 6,432 (3,447) 2,141
Proceeds from Sale of Loans Receivable 154,870 0 0
Net increase in loans (205,693) (173,754) (168,602)
Purchase of BOLI (164) (137) (76)
Proceeds from redemption of BOLI 477 14 146
Purchase of equipment for operating leases and other assets (13,993) (16,578) 0
Purchase of premises and equipment (2,925) (2,124) (3,458)
Proceeds from sale of premises and equipment 0 0 923
Capital improvements to REO 0 0 (30)
Proceeds from sale of REO 2,102 1,047 3,883
Acquisition of United Financial of North Carolina, Inc. 0 0 (225)
Net cash used in investing activities (124,935) (150,489) (134,017)
Financing Activities:      
Net increase in deposits 450,291 131,004 147,802
Net increase (decrease) in borrowings (205,000) 45,000 (61,500)
Common stock repurchased (24,484) (30,638) 0
Cash dividends paid (4,552) (3,176) 0
Retired stock (222) (205) (494)
Exercised stock options 1,541 1,173 651
Net cash provided by financing activities 217,574 143,158 86,459
Net Increase (Decrease) in Cash and Cash Equivalents 50,579 297 (16,239)
Cash and Cash Equivalents at Beginning of Period 71,043 70,746 86,985
Cash and Cash Equivalents at End of Period 121,622 71,043 70,746
Cash paid during the period for:      
Interest 33,315 28,997 15,716
Income taxes 1,686 1,549 887
Noncash transactions:      
Unrealized gain (loss) in value of securities available for sale, net of income taxes 1,284 2,331 (1,871)
Transfers of loans to REO 46 731 1,346
Transfer of Loans Held-for-sale to Portfolio Loans 98,288 0 0
Transfers of loans to held for sale from loans held for investment 240,453 5,794 0
ROU assets - noncash additions (operating leases) 5,296    
ROU assets - noncash addition (finance lease) $ 2,052 $ 0 $ 0