Borrowings

12 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Borrowings

Note 11 – Borrowings

Borrowings at June 30, 2022 and June 30, 2021 consisted of the following:

	June 30,		June 30,
	2022		2021
	(In Thousands)
FHLB advances	$	651,337	$	665,876
Overnight borrowings(1)		250,000		20,000
Total borrowings	$	901,337	$	685,876

(1)At June 30, 2022, represents FHLB overnight line of credit borrowings. At June 30, 2021, represents unsecured overnight borrowings from other financial institutions.

Fixed-rate advances from FHLB of New York mature as follows:

	June 30, 2022						June 30, 2021
	Balance			Weighted Average Interest Rate			Balance			Weighted Average Interest Rate
	(Dollars in Thousands)
By remaining period to maturity:
Less than one year	$	520,000			2.04	%	$	390,000			0.33	%
One to two years		22,500			2.63			145,000			3.04
Two to three years		103,500			2.68			22,500			2.63
Three to four years		6,500			2.82			103,500			2.68
Four to five years		-			-			6,500			2.82
Greater than five years		-			-			-			-
Total advances		652,500			2.17	%		667,500			1.38	%
Unamortized fair value adjustments		(1,163	)					(1,624	)
Total advances, net of fair value adjustments	$	651,337					$	665,876

At June 30, 2022, FHLB advances and overnight line of credit borrowings were collateralized by the FHLB capital stock owned by the Bank and mortgage loans and securities with carrying values totaling approximately $3.58 billion and $178.0 million, respectively. At June 30, 2021, FHLB advances were collateralized by the FHLB capital stock owned by the Bank and mortgage loans and securities with carrying values totaling approximately $3.27 billion and $170.1 million, respectively.