Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Jun. 30, 2022

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Financial Instruments as well as Their Classification on Statement of Financial Condition

The tables below present the fair value of the Company’s derivative financial instruments as well as their classification on the Statement of Financial Condition as of June 30, 2022 and June 30, 2021:

	June 30, 2022
	Asset Derivatives			Liability Derivatives
	Location	Fair Value		Location	Fair Value
	(In Thousands)
Derivatives designated as hedging instruments:
Interest rate contracts	Other assets	$	41,223	Other liabilities	$	-
Total		$	41,223		$	-

	June 30, 2021
	Asset Derivatives			Liability Derivatives
	Location	Fair Value		Location	Fair Value
	(In Thousands)
Derivatives designated as hedging instruments:
Interest rate contracts	Other assets	$	1,832	Other liabilities	$	673
Total		$	1,832		$	673

Pre-tax Effects of Derivative Instruments on Consolidated Statements of Income

The table below presents the pre-tax effects of the Company’s derivative instruments on the Consolidated Statements of Income for the years ended June 30, 2022, 2021 and 2020:

	Year Ended June 30,
	2022			2021			2020
	(In Thousands)
Amount of gain (loss) recognized in other comprehensive income (loss)	$	35,844		$	10,825		$	(21,264	)
Amount of (loss) gain reclassified from accumulated other comprehensive income (loss)   to interest expense		(4,273	)		(8,281	)		1,870

Offsetting Derivatives

The tables below present a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives in the Consolidated Statement of Financial Condition as of June 30, 2022 and June 30, 2021, respectively. The net amounts presented for derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the Consolidated Statement of Financial Condition.

	June 30, 2022
							Gross Amounts Not Offset
	Gross Amount Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral Received		Net Amount
	(In Thousands)
Assets:
Interest rate contracts	$	41,223	$	-	$	41,223	$	-	$	-	$	41,223
Total	$	41,223	$	-	$	41,223	$	-	$	-	$	41,223
							Gross Amounts Not Offset
	Gross Amount Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral Posted		Net Amount
	(In Thousands)
Liabilities:
Interest rate contracts	$	-	$	-	$	-	$	-	$	-	$	-
Total	$	-	$	-	$	-	$	-	$	-	$	-

	June 30, 2021
								Gross Amounts Not Offset
	Gross Amount Recognized		Gross Amounts Offset			Net Amounts Presented		Financial Instruments		Cash Collateral Received			Net Amount
	(In Thousands)
Assets:
Interest rate contracts	$	6,847	$	(5,015	)	$	1,832	$	-	$	-		$	1,832
Total	$	6,847	$	(5,015	)	$	1,832	$	-	$	-		$	1,832
								Gross Amounts Not Offset
	Gross Amount Recognized		Gross Amounts Offset			Net Amounts Presented		Financial Instruments		Cash Collateral Posted			Net Amount
	(In Thousands)
Liabilities:
Interest rate contracts	$	5,688	$	(5,015	)	$	673	$	-	$	(673	)	$	-
Total	$	5,688	$	(5,015	)	$	673	$	-	$	(673	)	$	-