Loans Receivable (Tables)

9 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Schedule of Loans Receivable

The following table sets forth the composition of the Company’s loan portfolio at March 31, 2022 and June 30, 2021:

	March 31,			June 30,
	2022			2021
	(In Thousands)
Commercial loans:
Multi-family mortgage	$	2,076,003		$	2,039,260
Nonresidential mortgage		1,085,988			1,079,444
Commercial business		169,551			168,951
Construction		121,137			93,804
Total commercial loans		3,452,679			3,381,459
One- to four-family residential mortgage		1,527,980			1,447,721
Consumer loans:
Home equity loans		41,501			47,871
Other consumer		2,755			3,259
Total consumer loans		44,256			51,130
Total loans		5,024,915			4,880,310
Unaccreted yield adjustments		(21,714	)		(28,916	)
Total loans receivable, net of yield adjustments	$	5,003,201		$	4,851,394

Contractual Payment Status of Past Loans Receivable

The following tables present the payment status of past due loans as of March 31, 2022 and June 30, 2021, by loan segment:

	Payment Status
	March 31, 2022
	30-59 Days		60-89 Days		90 Days and Over		Total Past Due		Current		Total
	(In Thousands)
Multi-family mortgage	$	-	$	-	$	28,197	$	28,197	$	2,047,806	$	2,076,003
Nonresidential mortgage		2,101		-		25,283		27,384		1,058,604		1,085,988
Commercial business		-		64		281		345		169,206		169,551
Construction		-		-		-		-		121,137		121,137
One- to four-family   residential mortgage		3,410		520		2,968		6,898		1,521,082		1,527,980
Home equity loans		25		4		59		88		41,413		41,501
Other consumer		-		-		-		-		2,755		2,755
Total loans	$	5,536	$	588	$	56,788	$	62,912	$	4,962,003	$	5,024,915

	Payment Status
	June 30, 2021
	30-59 Days		60-89 Days		90 Days and Over		Total Past Due		Current		Total
	(In Thousands)
Multi-family mortgage	$	-	$	-	$	16,094	$	16,094	$	2,023,166	$	2,039,260
Nonresidential mortgage		-		-		32,891		32,891		1,046,553		1,079,444
Commercial business		-		-		401		401		168,550		168,951
Construction		-		-		-		-		93,804		93,804
One- to four-family   residential mortgage		382		2,734		5,104		8,220		1,439,501		1,447,721
Home equity loans		6		5		32		43		47,828		47,871
Other consumer		1		-		-		1		3,258		3,259
Total loans	$	389	$	2,739	$	54,522	$	57,650	$	4,822,660	$	4,880,310

Performance Status of Loans Receivable

The following tables present information relating to the Company’s nonperforming loans as of March 31, 2022 and June 30, 2021:

	Performance Status
	March 31, 2022
	90 Days and Over Past Due Accruing		Nonaccrual Loans with Allowance for Credit Losses		Nonaccrual Loans with no Allowance for Credit Losses		Total Nonperforming		Performing		Total
	(In Thousands)
Multi-family mortgage	$	-	$	11,369	$	28,646	$	40,015	$	2,035,988	$	2,076,003
Nonresidential mortgage		-		3,667		24,523		28,190		1,057,798		1,085,988
Commercial business		-		63		430		493		169,058		169,551
Construction		-		-		1,791		1,791		119,346		121,137
One- to four-family   residential mortgage		-		4,376		4,241		8,617		1,519,363		1,527,980
Home equity loans		-		313		1,176		1,489		40,012		41,501
Other consumer		-		-		-		-		2,755		2,755
Total loans	$	-	$	19,788	$	60,807	$	80,595	$	4,944,320	$	5,024,915

	Performance Status
	June 30, 2021
	90 Days and Over Past Due Accruing		Nonaccrual Loans with Allowance for Credit Losses		Nonaccrual Loans with no Allowance for Credit Losses		Total Nonperforming		Performing		Total
	(In Thousands)
Multi-family mortgage	$	-	$	8,300	$	10,226	$	18,526	$	2,020,734	$	2,039,260
Nonresidential mortgage		-		12,612		24,575		37,187		1,042,257		1,079,444
Commercial business		-		236		676		912		168,039		168,951
Construction		-		-		2,228		2,228		91,576		93,804
One- to four-family   residential mortgage		-		7,422		11,748		19,170		1,428,551		1,447,721
Home equity loans		-		452		1,292		1,744		46,127		47,871
Other consumer		-		-		-		-		3,259		3,259
Total loans	$	-	$	29,022	$	50,745	$	79,767	$	4,800,543	$	4,880,310

Troubled Debt Restructurings of Loans Receivable

The following tables present total TDR loans at March 31, 2022 and June 30, 2021:

	March 31, 2022
	Accrual				Non-accrual				Total
	# of Loans		Amount		# of Loans		Amount		# of Loans		Amount
	(Dollars In Thousands)
Commercial loans:
Multi-family mortgage		-	$	-		3	$	14,605		3	$	14,605
Nonresidential mortgage		4		400		2		1,646		6		2,046
Commercial business		5		3,704		3		325		8		4,029
Construction		-		-		1		1,791		1		1,791
Total commercial loans		9		4,104		9		18,367		18		22,471
One- to four-family residential   mortgage		29		4,270		15		3,392		44		7,662
Consumer loans:
Home equity loans		5		170		2		1,396		7		1,566
Total		43	$	8,544		26	$	23,155		69	$	31,699

	June 30, 2021
	Accrual				Non-accrual				Total
	# of Loans		Amount		# of Loans		Amount		# of Loans		Amount
	(Dollars In Thousands)
Commercial loans:
Multi-family mortgage		-	$	-		1	$	2,896		1	$	2,896
Nonresidential mortgage		1		105		6		2,275		7		2,380
Commercial business		3		3,755		6		693		9		4,448
Construction		-		-		1		2,228		1		2,228
Total commercial loans		4		3,860		14		8,092		18		11,952
One- to four-family residential   mortgage		18		2,216		20		3,405		38		5,621
Consumer loans:
Home equity loans		4		159		3		68		7		227
Total		26	$	6,235		37	$	11,565		63	$	17,800

The following tables present information regarding troubled debt restructurings that occurred during the three months and nine months ended March 31, 2022 and 2021:

	Three Months Ended March 31, 2022						Nine Months Ended March 31, 2022
	# of Loans		Pre- modification Recorded Investment		Post- modification Recorded Investment		# of Loans		Pre- modification Recorded Investment		Post- modification Recorded Investment
	(Dollars In Thousands)
Multi-family mortgage		1	$	9,104	$	9,101		2	$	12,091	$	12,073
One- to four-family residential   mortgage		8		2,953		2,965		10		3,214		3,226
Home equity loans		2		1,477		1,477		2		1,477		1,477
Total		11	$	13,534	$	13,543		14	$	16,782	$	16,776

	Three Months Ended March 31, 2021						Nine Months Ended March 31, 2021
	# of Loans		Pre- modification Recorded Investment		Post- modification Recorded Investment		# of Loans		Pre- modification Recorded Investment		Post- modification Recorded Investment
	(Dollars In Thousands)
One- to four-family residential   mortgage		-	$	-	$	-		1	$	309	$	308
Home equity loans		1		24		24		1		24		24
Total		1	$	24	$	24		2	$	333	$	332

Carrying Value of Collateral Dependent Individually Analyzed Loans

The following table presents the carrying value and related allowance of collateral dependent individually analyzed loans at the dates indicated:

	March 31, 2022				June 30, 2021
	Carrying Value		Related Allowance		Carrying Value		Related Allowance
	(In Thousands)
Commercial loans:
Multi-family mortgage	$	31,078	$	661	$	18,526	$	1,368
Nonresidential mortgage (1)		27,384		119		32,891		4,724
Commercial business (2)		176		-		183		-
Construction		1,791		-		-		-
Total commercial loans		60,429		780		51,600		6,092
One- to four-family residential mortgage (3)		4,581		196		7,612		420
Consumer loans:
Home equity loans (3)		59		-		31		-
Total	$	65,069	$	976	$	59,243	$	6,512

(1)Secured by income-producing nonresidential property.

(2)Secured by business assets.

(3)Secured by one- to four-family residential properties.

Credit-Rating Classification of Loans Receivable

The following table presents the risk category of loans as of March 31, 2022 by loan segment and vintage year:

	Term Loans by Origination Year for Fiscal Years ended June 30,
	2022		2021		2020		2019		2018		Prior		Revolving Loans		Total
	(In Thousands)
Multi-family mortgage:
Pass	$	520,269	$	263,316	$	216,072	$	256,541	$	252,909	$	500,758	$	-	$	2,009,865
Special Mention		-		-		-		16,370		4,994		4,759		-		26,123
Substandard		-		-		-		10,182		2,788		27,045		-		40,015
Doubtful		-		-		-		-		-		-		-		-
Total multi-family mortgage		520,269		263,316		216,072		283,093		260,691		532,562		-		2,076,003
Nonresidential mortgage:
Pass		201,205		86,212		64,161		37,706		51,884		569,499		6,087		1,016,754
Special Mention		-		-		-		23,364		4,070		9,249		-		36,683
Substandard		-		724		-		933		-		30,894		-		32,551
Doubtful		-		-		-		-		-		-		-		-
Total nonresidential mortgage		201,205		86,936		64,161		62,003		55,954		609,642		6,087		1,085,988
Commercial business:
Pass		36,918		39,481		12,441		3,961		9,147		7,370		54,513		163,831
Special Mention		-		-		65		189		2,173		895		216		3,538
Substandard		-		39		230		-		1,422		285		58		2,034
Doubtful		-		-		-		-		-		145		3		148
Total commercial business		36,918		39,520		12,736		4,150		12,742		8,695		54,790		169,551
Construction loans:
Pass		7,868		85,564		9,492		3,058		6,513		1,117		5,735		119,347
Special Mention		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		1,790		-		1,790
Doubtful		-		-		-		-		-		-		-		-
Total construction loans		7,868		85,564		9,492		3,058		6,513		2,907		5,735		121,137
Residential mortgage:
Pass		312,625		531,111		90,576		53,262		56,834		464,738		375		1,509,521
Special Mention		-		-		-		1,213		-		439		-		1,652
Substandard		-		-		1,704		83		-		15,020		-		16,807
Doubtful		-		-		-		-		-		-		-		-
Total residential mortgage		312,625		531,111		92,280		54,558		56,834		480,197		375		1,527,980
Home equity loans:
Pass		1,759		715		1,744		3,245		2,125		7,552		22,156		39,296
Special Mention		-		-		-		-		-		265		-		265
Substandard		-		-		-		124		-		1,816		-		1,940
Doubtful		-		-		-		-		-		-		-		-
Total home equity loans		1,759		715		1,744		3,369		2,125		9,633		22,156		41,501
Other consumer loans
Pass		281		324		477		398		247		913		40		2,680
Special Mention		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-
Doubtful		-		-		-		-		-		-		75		75
Other consumer loans		281		324		477		398		247		913		115		2,755
Total loans	$	1,080,925	$	1,007,486	$	396,962	$	410,629	$	395,106	$	1,644,549	$	89,258	$	5,024,915

The following table presents the risk category of loans as of June 30, 2021 by loan segment and vintage year:

	Term Loans by Origination Year for Fiscal Years ended June 30,
	2021		2020		2019		2018		2017		Prior		Revolving Loans		Total
	(In Thousands)
Multi-family mortgage:
Pass	$	281,402	$	257,970	$	374,871	$	341,304	$	343,370	$	374,909	$	-	$	1,973,826
Special Mention		-		-		26,974		5,079		4,834		1,054		-		37,941
Substandard		-		-		-		2,896		13,198		11,399		-		27,493
Doubtful		-		-		-		-		-		-		-		-
Total multi-family mortgage		281,402		257,970		401,845		349,279		361,402		387,362		-		2,039,260
Nonresidential mortgage:
Pass		99,602		77,146		56,435		64,616		254,940		441,696		6,150		1,000,585
Special Mention		-		-		23,520		4,146		8,801		4,513		-		40,980
Substandard		743		-		-		4,934		20,602		11,600		-		37,879
Doubtful		-		-		-		-		-		-		-		-
Total nonresidential mortgage		100,345		77,146		79,955		73,696		284,343		457,809		6,150		1,079,444
Commercial business:
Pass		44,514		18,988		4,701		12,654		3,322		12,892		65,657		162,728
Special Mention		-		-		-		2,304		945		12		461		3,722
Substandard		41		76		160		1,474		132		189		-		2,072
Doubtful		-		-		-		-		-		420		9		429
Total commercial business		44,555		19,064		4,861		16,432		4,399		13,513		66,127		168,951
Construction loans:
Pass		40,332		17,404		11,203		13,860		1,641		1,382		5,735		91,557
Special Mention		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		2,247		-		2,247
Doubtful		-		-		-		-		-		-		-		-
Total construction loans		40,332		17,404		11,203		13,860		1,641		3,629		5,735		93,804
Residential mortgage:
Pass		560,543		124,606		69,917		74,754		119,238		472,587		375		1,422,020
Special Mention		-		-		1,233		-		-		712		-		1,945
Substandard		-		1,040		671		511		1,468		20,066		-		23,756
Doubtful		-		-		-		-		-		-		-		-
Total residential mortgage		560,543		125,646		71,821		75,265		120,706		493,365		375		1,447,721
Home equity loans:
Pass		834		2,508		4,585		2,778		2,241		7,798		24,788		45,532
Special Mention		-		-		-		-		-		393		-		393
Substandard		-		-		-		-		11		1,935		-		1,946
Doubtful		-		-		-		-		-		-		-		-
Total home equity loans		834		2,508		4,585		2,778		2,252		10,126		24,788		47,871
Other consumer loans
Pass		550		517		633		256		127		1,044		44		3,171
Special Mention		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		1		1
Doubtful		-		-		-		-		-		-		87		87
Other consumer loans		550		517		633		256		127		1,044		132		3,259
Total loans	$	1,028,561	$	500,255	$	574,903	$	531,566	$	774,870	$	1,366,848	$	103,307	$	4,880,310