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Consolidated Statements of Cash Flows - USD ($)
9 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES    
Net income $ 11,376,000 $ 9,014,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (benefit) for loan losses 563,000 (678,000)
Depreciation and amortization 2,221,000 2,226,000
Amortization of net premiums on securities and net deferred loan origination costs 110,000 681,000
Net (increase) decrease in accrued interest receivable (185,000) 149,000
Gains on sales of securities [1]   (113,000)
Gains on sales of loans receivable [1] (56,000)  
Gain on sale of premises (548,000)  
Stock-based compensation 2,450,000 2,460,000
ESOP compensation 1,356,000 1,053,000
Earnings from cash surrender value of BOLI (568,000) (381,000)
Originations of loans receivable held for sale (3,708,000)  
Proceeds from loans receivable held for sale 3,764,000  
Net accretion of purchase accounting adjustments (103,000) (193,000)
Other adjustments, principally net changes in other assets and liabilities (845,000) (1,682,000)
Net cash provided by operating activities 15,827,000 12,536,000
Purchases of investment securities:    
Held to maturity (130,786,000) (102,412,000)
Available for sale   (20,377,000)
Sale of investment securities available for sale   3,339,000
Maturities, calls and amortization of investment securities:    
Held to maturity 49,974,000 67,814,000
Available for sale 16,713,000 16,120,000
Loan (originations) repayments, net (56,328,000) 871,000
Net redemption of FHLB stock 792,000 454,000
Sale (purchase) of bank premises and equipment 571,000 (233,000)
Net cash used in investing activities (119,064,000) (34,424,000)
FINANCING ACTIVITIES    
Net increase in deposits 133,037,000 81,035,000
Net decrease in short-term FHLB advances   (10,000,000)
Repayment of long-term FHLB advances (17,600,000) (98,000)
Net decrease in mortgage escrow funds (1,792,000) (871,000)
Common stock dividends paid (2,598,000) (1,836,000)
Repurchase of shares from employees for income tax withholding purpose (360,000) (303,000)
Repurchase of common stock (7,863,000) (13,027,000)
Net cash provided by financing activities 102,824,000 54,900,000
Net (decrease) increase in cash and cash equivalents (413,000) 33,012,000
Cash and cash equivalents at beginning of period 159,305,000 136,302,000
Cash and cash equivalents at end of period 158,892,000 169,314,000
Cash paid for:    
Interest 4,816,000 7,935,000
Income taxes $ 1,602,000 2,764,000
Establishment of right to use lease asset   $ 443,000
[1] Not within the scope of ASC 606.