Loans Receivable (Tables)

12 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Schedule of Loans Receivable

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

	June 30,			June 30,
	2022			2021
	(In Thousands)
Commercial loans:
Multi-family mortgage	$	2,409,090		$	2,039,260
Nonresidential mortgage		1,019,838			1,079,444
Commercial business		176,807			168,951
Construction		140,131			93,804
Total commercial loans		3,745,866			3,381,459
One- to four-family residential mortgage		1,645,816			1,447,721
Consumer loans:
Home equity loans		42,028			47,871
Other consumer		2,866			3,259
Total consumer loans		44,894			51,130
Total loans		5,436,576			4,880,310
Unaccreted yield adjustments		(18,731	)		(28,916	)
Total loans receivable, net of yield adjustments	$	5,417,845		$	4,851,394

Contractual Payment Status of Past Loans Receivable

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

	Payment Status
	June 30, 2022
	30-59 Days		60-89 Days		90 Days and Over		Total Past Due		Current		Total
	(In Thousands)
Multi-family mortgage	$	3,148	$	3,056	$	7,788	$	13,992	$	2,395,098	$	2,409,090
Nonresidential mortgage		4,026		-		18,132		22,158		997,680		1,019,838
Commercial business		98		57		155		310		176,497		176,807
Construction		-		-		-		-		140,131		140,131
One- to four-family   residential mortgage		1,525		253		3,455		5,233		1,640,583		1,645,816
Home equity loans		28		35		-		63		41,965		42,028
Other consumer		-		-		-		-		2,866		2,866
Total loans	$	8,825	$	3,401	$	29,530	$	41,756	$	5,394,820	$	5,436,576

	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 June 30, 2022 and June 30, 2021:

	Performance Status
	June 30, 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	$	-	$	8,367	$	18,286	$	26,653	$	2,382,437	$	2,409,090
Nonresidential mortgage		-		12,602		19,292		31,894		987,944		1,019,838
Commercial business		-		212		81		293		176,514		176,807
Construction		-		-		1,561		1,561		138,570		140,131
One- to four-family   residential mortgage		-		3,543		4,946		8,489		1,637,327		1,645,816
Home equity loans		-		302		1,129		1,431		40,597		42,028
Other consumer		-		-		-		-		2,866		2,866
Total loans	$	-	$	25,026	$	45,295	$	70,321	$	5,366,255	$	5,436,576

	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 TDRs at June 30, 2022 and June 30, 2021:

	June 30, 2022
	Accrual				Non-accrual				Total
	# of Loans		Amount		# of Loans		Amount		# of Loans		Amount
	(Dollars In Thousands)
Commercial loans:
Multi-family mortgage		-	$	-		2	$	5,626		2	$	5,626
Nonresidential mortgage		4		389		2		1,565		6		1,954
Commercial business		5		3,631		2		82		7		3,713
Construction		-		-		1		1,561		1		1,561
Total commercial loans		9		4,020		7		8,834		16		12,854
One- to four-family residential   mortgage		29		4,488		16		3,314		45		7,802
Consumer loans:
Home equity loans		5		164		2		1,364		7		1,528
Total		43	$	8,672		25	$	13,512		68	$	22,184

	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 table presents information regarding TDRs that occurred during the years ended June 30, 2022 and 2021:

	Year Ended June 30, 2022						Year Ended June 30, 2021
	# 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		2	$	12,091	$	12,073		-	$	-	$	-
One- to four-family residential   mortgage		13		3,812		3,924		4		877		881
Home equity loans		2		1,477		1,477		3		70		70
Total		17	$	17,380	$	17,474		7	$	947	$	951

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:

	June 30, 2022				June 30, 2021
	Carrying Value		Related Allowance		Carrying Value		Related Allowance
	(In Thousands)
Commercial loans:
Multi-family mortgage	$	26,653	$	849	$	18,526	$	1,368
Nonresidential mortgage (1)		30,733		2,696		32,891		4,724
Commercial business (2)		-		-		183		-
Construction		1,561		-		-		-
Total commercial loans		58,947		3,545		51,600		6,092
One- to four-family residential mortgage (3)		4,305		77		7,612		420
Consumer loans:
Home equity loans (3)		35		-		31		-
Total	$	63,287	$	3,622	$	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 June 30, 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	$	963,263	$	250,385	$	211,101	$	264,174	$	248,058	$	438,642	$	-	$	2,375,623
Special Mention		-		-		-		-		-		6,814		-		6,814
Substandard		-		-		-		9,821		5,935		10,897		-		26,653
Doubtful		-		-		-		-		-		-		-		-
Total multi-family mortgage		963,263		250,385		211,101		273,995		253,993		456,353		-		2,409,090
Nonresidential mortgage:
Pass		231,777		87,309		53,983		60,714		49,285		491,849		6,052		980,969
Special Mention		-		-		-		-		-		591		-		591
Substandard		-		720		-		933		4,026		32,599		-		38,278
Doubtful		-		-		-		-		-		-		-		-
Total nonresidential mortgage		231,777		88,029		53,983		61,647		53,311		525,039		6,052		1,019,838
Commercial business:
Pass		46,888		38,791		12,155		3,581		4,861		6,455		58,662		171,393
Special Mention		-		-		62		186		2,173		873		215		3,509
Substandard		-		38		319		-		1,347		61		58		1,823
Doubtful		-		-		-		-		-		80		2		82
Total commercial business		46,888		38,829		12,536		3,767		8,381		7,469		58,937		176,807
Construction loans:
Pass		16,407		95,526		10,337		3,039		6,509		1,017		5,735		138,570
Special Mention		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		1,561		-		1,561
Doubtful		-		-		-		-		-		-		-		-
Total construction loans		16,407		95,526		10,337		3,039		6,509		2,578		5,735		140,131
Residential mortgage:
Pass		472,160		524,163		88,645		49,316		55,139		442,517		374		1,632,314
Special Mention		-		-		-		1,205		-		621		-		1,826
Substandard		-		-		-		83		-		11,593		-		11,676
Doubtful		-		-		-		-		-		-		-		-
Total residential mortgage		472,160		524,163		88,645		50,604		55,139		454,731		374		1,645,816
Home equity loans:
Pass		3,197		692		1,681		3,117		2,027		7,321		22,334		40,369
Special Mention		-		-		-		-		-		-		-		-
Substandard		-		-		-		120		-		1,539		-		1,659
Doubtful		-		-		-		-		-		-		-		-
Total home equity loans		3,197		692		1,681		3,237		2,027		8,860		22,334		42,028
Other consumer loans
Pass		442		308		471		375		258		895		34		2,783
Special Mention		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-
Doubtful		-		-		-		-		-		-		83		83
Other consumer loans		442		308		471		375		258		895		117		2,866
Total loans	$	1,734,134	$	997,932	$	378,754	$	396,664	$	379,618	$	1,455,925	$	93,549	$	5,436,576

Note 5 – Loans Receivable (continued)

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

Acquisition Amount of MSB Purchased Loans

The carrying amount of those loans is as follows:

	At July 10, 2020
	(In Thousands)
Purchase price of PCD loans at acquisition	$	65,347
Allowance for credit losses at acquisition		3,901
Non-credit discount at acquisition		167
Par value of acquired PCD loans at acquisition	$	69,415