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Comprehensive Income
 12 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Comprehensive Income

Note 19 – Comprehensive Income

The components of accumulated other comprehensive (loss) income included in stockholders’ equity are as follows:

 

 

June 30,

 

 

2022

 

 

2021

 

 

(In Thousands)

 

Net unrealized (loss) gain on securities available for sale

$

(118,031

)

 

$

10,011

 

Tax effect

 

34,104

 

 

 

(2,882

)

Net of tax amount

 

(83,927

)

 

 

7,129

 

 

 

 

 

 

 

Fair value adjustments on derivatives

 

39,805

 

 

 

(312

)

Tax effect

 

(11,542

)

 

 

94

 

Net of tax amount

 

28,263

 

 

 

(218

)

 

 

 

 

 

 

Benefit plan adjustments

 

(89

)

 

 

(1,093

)

Tax effect

 

26

 

 

 

326

 

Net of tax amount

 

(63

)

 

 

(767

)

 

 

 

 

 

 

Total accumulated other comprehensive (loss) income

$

(55,727

)

 

$

6,144

 

 

Other comprehensive (loss) income and related tax effects are presented in the following table:

 

 

Years Ended June 30,

 

 

2022

 

 

2021

 

 

2020

 

 

(In Thousands)

 

Net unrealized (loss) gain on securities available for sale

$

(128,601

)

 

$

(11,704

)

 

$

22,758

 

 

 

 

 

 

 

 

 

 

Amortization of net unrealized holding loss on securities
  available for sale transferred to held to maturity (1)

 

-

 

 

 

-

 

 

 

596

 

 

 

 

 

 

 

 

 

 

Net realized loss (gain) on securities available for sale (2)

 

559

 

 

 

(767

)

 

 

(2,251

)

 

 

 

 

 

 

 

 

 

Fair value adjustments on derivatives

 

40,117

 

 

 

19,106

 

 

 

(23,134

)

 

 

 

 

 

 

 

 

 

Benefit plans:

 

 

 

 

 

 

 

 

Amortization of actuarial loss (3)

 

80

 

 

 

83

 

 

 

19

 

Net actuarial gain (loss)

 

924

 

 

 

236

 

 

 

(348

)

Net change in benefit plan accrued expense

 

1,004

 

 

 

319

 

 

 

(329

)

 

 

 

 

 

 

 

 

 

Other comprehensive (loss) income before taxes

 

(86,921

)

 

 

6,954

 

 

 

(2,360

)

Tax effect

 

25,050

 

 

 

(2,067

)

 

 

778

 

Total other comprehensive (loss) income

$

(61,871

)

 

$

4,887

 

 

$

(1,582

)

 

(1)
Represents amounts reclassified out of accumulated other comprehensive (loss) income and included in interest income on taxable securities.
(2)
Represents amounts reclassified out of accumulated other comprehensive (loss) income and included in gain on sale of securities on the Consolidated Statements of Income.
(3)
Represents amounts reclassified out of accumulated other comprehensive (loss) income and included in the computation of net periodic pension expense. See Note 13 – Benefit Plans for additional information.