SR BANCORP, INC., 10-Q filed on 2/13/2026
Quarterly Report
v3.25.4
Document and Entity Information - shares
 6 Months Ended
Dec. 31, 2025
Feb. 10, 2026
Cover [Abstract]    
Document Type 10-Q  
Amendment Flag false  
Current Fiscal Year End Date --06-30  
Document Period End Date Dec. 31, 2025  
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2026  
Entity File Number 001-41808  
Entity Registrant Name SR Bancorp, Inc.  
Entity Central Index Key 0001951276  
Entity Incorporation, State or Country Code MD  
Entity Tax Identification Number 92-2601722  
Entity Address, Address Line One 220 West Union Avenue  
Entity Address, City or Town Bound Brook  
Entity Address, State or Province NJ  
Entity Address, Postal Zip Code 08805  
City Area Code 732  
Local Phone Number 560-1700  
Title of 12(b) Security Common Stock, par value $0.01 per share  
Trading Symbol SRBK  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Non-accelerated Filer  
Entity Small Business true  
Entity Emerging Growth Company true  
Entity Ex Transition Period false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   8,335,468
Document Quarterly Report true  
Document Transition Report false  
v3.25.4
Consolidated Statements of Financial Condition (Unaudited) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Assets    
Cash and due from banks $ 3,932 $ 3,945
Interest-bearing deposits at other banks 77,910 53,834
Total cash and cash equivalents 81,842 57,779
Securities held-to-maturity, at amortized cost 140,805 141,845
Equity securities, at fair value 33 37
Loans receivable, net of allowance for credit losses of $5,533 and $5,582, respectively 835,367 797,166
Premises and equipment, net 5,039 4,942
Right of use asset 2,743 3,156
Restricted equity securities, at cost 3,508 2,608
Accrued interest receivable 3,201 3,072
Bank owned life insurance 37,139 36,607
Goodwill and intangible assets 26,094 26,708
Other assets 7,190 10,485
Total assets 1,142,961 1,084,405
Deposits:    
Noninterest-bearing 121,715 114,107
Interest-bearing 769,825 731,915
Total deposits 891,540 846,022
Borrowings 50,000 30,000
Advance payments by borrowers for taxes and insurance 8,334 8,736
Accrued interest payable 205 223
Lease liability 2,785 3,211
Other liabilities 1,646 2,433
Total liabilities 954,510 890,625
Equity    
Preferred Stock, $0.01 par value, 5,000,000 shares authorized, none issued
Common stock, $0.01 par value, 50,000,000 authorized; 8,432,990 and 8,875,170 shares issued and outstanding as of December 31, 2025, and June 30, 2025, respectively 84 89
Additional paid in capital 74,429 80,843
Retained earnings 121,243 120,505
Unearned compensation ESOP (6,465) (6,655)
Accumulated other comprehensive loss (840) (1,002)
Total stockholders' equity 188,451 193,780
Total liabilities and stockholders' equity $ 1,142,961 $ 1,084,405
v3.25.4
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Statement of Financial Position [Abstract]    
Loans receivable, allowance for credit losses $ 5,582 $ 5,362
Preferred stock per share $ 0.01 $ 0.01
Preferred stock, shares authorized 5,000,000 5,000,000
Preferred stock, shares issued 0 0
Common stock per share $ 0.01 $ 0.01
Common stock, shares authorized 50,000,000 50,000,000
Common stock, shares issued 8,432,990 8,875,170
Common stock, shares outstanding 8,432,990 8,875,170
v3.25.4
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Interest Income        
Loans, including fees $ 11,295 $ 10,438 $ 22,191 $ 20,724
Securities:        
Taxable 534 586 1,118 1,247
Interest bearing deposits at other banks 481 521 936 1,041
Total interest income 12,310 11,545 24,245 23,012
Interest Expense        
Demand 1,717 1,243 3,282 2,168
Savings and time 2,398 2,768 4,793 5,552
Borrowings 404 295 783 459
Total interest expense 4,519 4,306 8,858 8,179
Net Interest Income 7,791 7,239 15,387 14,833
Provision (Credit) for Credit Losses 49 12 221 (142)
Net Interest Income After Provision (Credit) for Credit Losses 7,742 7,227 15,166 14,975
Noninterest Income        
Service charges and fees 224 256 454 552
Increase in cash surrender value of bank owned life insurance 268 264 533 524
Fees and service charges on loans 23 37 55 93
Unrealized (loss) gain on equity securities (1) 3 (4) 5
Realized gain on sale of loans 17 28 17 51
Other 50 39 91 54
Total noninterest income 581 627 1,146 1,279
Noninterest Expense        
Salaries and employee benefits 3,924 3,366 7,776 6,606
Occupancy 531 492 1,067 1,124
Furniture and equipment 312 285 665 578
Data Processing 508 461 1,049 1,089
Advertising 112 85 242 167
FDIC premiums 120 120 240 240
Directors fees 101 101 198 194
Professional fees 508 467 945 956
Insurance 117 159 250 318
Telephone, postage and supplies 167 191 369 372
Other 835 782 1,528 1,535
Total noninterest expense 7,235 6,509 14,329 13,179
Income Before Income Tax Expense 1,088 1,345 1,983 3,075
Income Tax Expense 254 324 456 687
Net Income $ 834 $ 1,021 $ 1,527 $ 2,388
Basic earnings per share $ 0.11 $ 0.12 $ 0.2 $ 0.27
Diluted earnings per share $ 0.11 $ 0.12 $ 0.2 $ 0.27
Weighted average number of common shares outstanding - basic 7,583,888 8,588,096 7,714,559 8,696,412
Weighted average number of common shares outstanding - diluted 7,694,569 8,590,981 7,810,512 8,697,854
v3.25.4
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Statement of Comprehensive Income [Abstract]        
Net Income (Loss) $ 834 $ 1,021 $ 1,527 $ 2,388
Other Comprehensive Income        
Change in defined pension plan for unrealized actuarial gains (losses) net of income tax (expense) benefit of $50, $149, $(63) and $18, respectively (127) (382) 162 (45)
Total other comprehensive (loss) income (127) (382) 162 (45)
Total comprehensive income $ 707 $ 639 $ 1,689 $ 2,343
v3.25.4
Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Statement of Comprehensive Income [Abstract]        
Change in defined pension plan for unrealized actuarial gains (losses) net of income tax (expense) benefit $ 50 $ 149 $ (63) $ 18
v3.25.4
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid in Capital
Retained Earnings
Unearned ESOP Compensation
Accumulated Other Comprehensive Loss
Beginning Balance at Jun. 30, 2024 $ 199,483 $ 95 $ 91,436 $ 116,205 $ (7,036) $ (1,217)
Beginning Balance (in shares) at Jun. 30, 2024   9,507,930        
Net income 2,388     2,388    
Other comprehensive income, net of tax (45)         (45)
Repurchase of common shares (3,917) $ (3) (3,914)      
Repurchase of common shares (in shares)   (347,057)        
ESOP shares earned 202   12   190  
Stock-based compensation 34   34      
Restricted stock awards issued   $ 1 (1)      
Restricted stock awards issued, shares   95,075        
Ending Balance at Dec. 31, 2024 198,145 $ 93 87,567 118,593 (6,846) (1,262)
Ending Balance (in shares) at Dec. 31, 2024   9,255,948        
Beginning Balance at Sep. 30, 2024 200,544 $ 87 90,706 117,572 (6,941) (880)
Beginning Balance (in shares) at Sep. 30, 2024   9,441,642        
Net income 1,021     1,021    
Other comprehensive income, net of tax (382)         (382)
Repurchase of common shares (3,180) $ (5) (3,185)      
Repurchase of common shares (in shares)   (280,769)        
ESOP shares earned 108   13   95  
Stock-based compensation 34   34      
Restricted stock awards issued   $ 1 (1)      
Restricted stock awards issued, shares   95,075        
Ending Balance at Dec. 31, 2024 198,145 $ 93 87,567 118,593 (6,846) (1,262)
Ending Balance (in shares) at Dec. 31, 2024   9,255,948        
Beginning Balance at Jun. 30, 2025 193,780 $ 89 80,843 120,505 (6,655) (1,002)
Beginning Balance (in shares) at Jun. 30, 2025   8,875,170        
Net income 1,527     1,527    
Other comprehensive income, net of tax 162         162
Repurchase of common shares (7,231) $ (5) (7,226)      
Repurchase of common shares (in shares)   (465,702)        
Cash dividends declared on common stock (789)     (789)    
ESOP shares earned 284   94   190  
Stock-based compensation 718   718      
Restricted stock awards issued, shares   23,522        
Ending Balance at Dec. 31, 2025 188,451 $ 84 74,429 121,243 (6,465) (840)
Ending Balance (in shares) at Dec. 31, 2025   8,432,990        
Beginning Balance at Sep. 30, 2025 191,933 $ 87 78,321 120,798 (6,560) (713)
Beginning Balance (in shares) at Sep. 30, 2025   8,676,860        
Net income 834     834    
Other comprehensive income, net of tax (127)         (127)
Repurchase of common shares (4,305) $ (3) (4,302)      
Repurchase of common shares (in shares)   (267,392)        
Cash dividends declared on common stock (389)     (389)    
ESOP shares earned 146   51   95  
Stock-based compensation 359   359      
Restricted stock awards issued, shares   23,522        
Ending Balance at Dec. 31, 2025 $ 188,451 $ 84 $ 74,429 $ 121,243 $ (6,465) $ (840)
Ending Balance (in shares) at Dec. 31, 2025   8,432,990        
v3.25.4
Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
ESOP shares 9,508 9,508 19,016 19,016
Cash dividends declared on common stock, per share $ 0.05   $ 0.05  
v3.25.4
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash Flows from Operating Activities    
Net income $ 1,527,000 $ 2,388,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision (Credit) for Credit Losses 221,000 (142,000)
Depreciation 473,000 502,000
Deferred income tax benefit 21,000 (18,000)
Accretion of acquisition fair value adjustments, net (1,119,000) (2,574,000)
Amortization of core deposit intangible asset 614,000 753,000
Net amortization of premiums and discounts on securities 80,000 106,000
Net amortization of deferred loan fees, costs and discounts 167,000 168,000
Income from cash surrender value of bank owned life insurance (533,000) (524,000)
Stock-based compensation expense 1,002,000 236,000
Unrealized loss (gain) on equity securities 4,000 (5,000)
Gain on sale of loans held for sale (17,000) (51,000)
Proceeds from sales of loans held for sale 2,854,000 575,000
Originations of loans held for sale (2,837,000) (524,000)
(Increase) decrease in:    
Accrued interest receivable (129,000) (179,000)
Other assets 3,273,000 1,438,000
Increase in other liabilities (787,000) (1,792,000)
Net cash provided by operating activities 4,814,000 357,000
Cash Flows from Investing Activities    
Proceeds from maturities, calls and principal repayments of securities held-to-maturity 6,960,000 7,227,000
Purchase of securities held-to-maturity (6,000,000)  
Net increase in loans receivable (37,440,000) (41,251,000)
Purchase of premises and equipment (570,000) (183,000)
Purchase of restricted equity securities (900,000) (1,350,000)
Net cash used in investing activities (37,950,000) (35,557,000)
Cash Flows from Financing Activities    
Net increase in interest bearing deposits 37,880,000 29,937,000
Net increase (decrease) in non-interest bearing deposits 7,608,000 (13,049,000)
Net decrease in advance payments by borrowers for taxes and insurance (402,000) (254,000)
Net increase in short-term borrowings 20,000,000 30,000,000
Dividends Paid (835,000) 0
Repurchase of common stock (7,052,000) (3,917,000)
Net cash provided by financing activities 57,199,000 42,717,000
Net increase in cash and cash equivalents 24,063,000 7,517,000
Cash and Cash Equivalents, Beginning of Period 57,779,000 45,909,000
Cash and Cash Equivalents, End of Period 81,842,000 53,426,000
Supplementary Cash Flow Information    
Interest paid 7,982,000 7,651,000
Income taxes paid $ 0 $ 100,000
v3.25.4
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Pay vs Performance Disclosure        
Net Income (Loss) $ 834 $ 1,021 $ 1,527 $ 2,388
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Summary of Significant Accounting Policies
 6 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
1.
Summary of Significant Accounting Policies

Basis of Presentation and Use of Estimates

The accompanying unaudited Consolidated Financial Statements of SR Bancorp, Inc. (the “Company”) have been prepared in conformity with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q. The Consolidated Financial Statements are prepared on an accrual basis and include the accounts of the Company’s wholly-owned subsidiary, Somerset Regal Bank (the “Bank”) and its wholly-owned subsidiaries Somerset Investment Co. (the “Investment Co.”), RB Properties, LLC and Somerset Consumer Service Corp. (“SCS”). All significant intercompany accounts and transactions have been eliminated in consolidation.

The Investment Co. is a special purpose entity subject to the investment company provisions of the New Jersey Corporation Business Tax Act whose activities are limited to holding investment securities and recognizing income and other gains/losses thereon. RB Properties, LLC was formed to own and manage real estate property acquired through foreclosure or in lieu of foreclosure in connection with loans. RB Properties, LLC is currently inactive. SCS was originally formed to sell annuity products and is currently inactive.

The interim Consolidated Financial Statements reflect all adjustments, including normal and recurring accruals, which are, in the opinion of management, considered necessary for a fair presentation of the financial condition and results of operations for the periods presented. The results of operations for the three and six month periods ended December 31, 2025 are not necessarily indicative of the results of operations that may be expected for the full fiscal year or any other period. In preparing the Consolidated Financial Statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the statements of financial condition and the results of operations for the periods presented. Actual results could differ from these estimates.

Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). These unaudited Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2025.

Business

SR Bancorp, Inc., a Maryland corporation, is the holding company for Somerset Regal Bank. The Bank, which was formed in 1887, serves Essex, Hunterdon, Hudson, Middlesex, Morris, Somerset and Union counties in New Jersey. The Bank is a New Jersey chartered commercial bank subject to the laws and regulations of federal and state agencies. As a locally managed commercial bank, the Bank provides retail and commercial banking services to individuals, businesses and local municipalities through its 14 full-service branch locations.

On September 19, 2023, Somerset Savings Bank, SLA converted from the mutual to stock form of organization at which point, the Company became the holding company for Somerset Regal Bank. On that same date, SR Bancorp, Inc. completed its stock offering. The Company’s common stock began trading on the Nasdaq Capital Market under the trading symbol “SRBK” on September 20, 2023. Somerset Regal Bank was formed through the combination of Somerset Savings Bank, SLA and Regal Bank, two New Jersey chartered institutions, on September 19, 2023.

Concentrations of Credit Risk

The Company's lending activity is concentrated in loans secured by real estate located primarily in New Jersey. Credit risk exposure in this area of lending is mitigated by adhering to conservative underwriting practices and policies, and close monitoring of the loan portfolio. The Company does not have any significant concentrations to any one industry or customer.

Note 3 discusses the types of investment securities in which the Company invests. Credit risk as it relates to investment activities is mitigated through the monitoring of ratings. The Company's portfolio consists principally of highly-rated government-sponsored agency securities.

Segment Reporting

Accounting Standards Codification ("ASC") Topic 280, Segment Reporting, establishes standards for the way business enterprises report information about operating segments in annual Consolidated Financial Statements. The Company operates exclusively as a community bank within the "Community Banking" financial services industry. Community Banking encompasses the Company's primary business, which includes providing a wide range of commercial, retail and related banking services. The Company's primary focus within Community Banking is to grow loans using deposits generated by the Company's branches. Our business is generated principally in central and northern New Jersey.

The Company’s CEO is the chief operating decision maker who uses consolidated net income to assess performance and profitability of our single business segment. The Company assesses consolidated net income on a monthly basis, including variances to budget and prior period results. Consideration is given to performance of components of the business, such as branches and geographic regions, which are then aggregated. This information is used to achieve strategic initiatives by allowing the chief operation decision maker to manage resources that drive our business and earnings. Additionally, consolidated net income is used to benchmark the Company against its banking peers.

Recently Adopted Accounting Changes

In November 2023, the Financial Accounting Standards Board (the “FASB”) issued ASU 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"). This update requires public entities with reportable segments to provide additional and more detailed disclosures. The Company adopted ASU 2023-07 on June 30, 2025, which did not have a material impact on its Consolidated Financial Statements.

In March 2024, the FASB issued ASU 2024-01 Compensation - Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards ("ASU 2024-01"). This update provides guidance for profits interest and similar awards. The Company adopted ASU 2024-01 on July 1, 2025, which did not have a material impact on its Consolidated Financial Statements.

Accounting Standards Update 2024-02, "Codification Improvements" ("ASU 2024-02"), amends the Codification to remove references to various concept statements and impacts a variety of topics in the Codification. The amendments apply to all reporting entities within the scope of the affected accounting guidance, but in most instances the references removed are extraneous and not required to understand or apply the guidance. Generally, the amendments in ASU 2024-02 are not intended to result in significant accounting changes for most entities. The Company adopted ASU 2024-02 on July 1, 2025, which did not have a material impact on its Consolidated Financial Statements.

Recent Accounting Standards Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". The amendments in this ASU require improved annual income tax disclosures surrounding rate reconciliation, income taxes paid, and other disclosures. This update will be effective for annual financial statements issued for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of this standard, which is not expected to have a material impact on our financial statements.

Accounting Standards Update 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures" ("ASU 2024-03"), requires additional expense disclosures by public entities in the notes to the financial statements. ASU 2024-03 outlines the specific costs that are required to be disclosed, which include costs such as: employee compensation, depreciation, intangible asset amortization, selling costs and depreciation. It also requires qualitative descriptions of the amounts remaining in the relevant income statement captions that are not separately disaggregated quantitatively in the notes to the financial statements and the entity's definition of selling expenses. The disclosures are required for each interim and annual reporting period. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026. In January 2025, the FASB issued Accounting

Standards Update 2025-01, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures: Clarifying the Effective Date" ("ASU 2025-01"), clarifying the interim reporting date when an entity must adopt ASU 2024-03. According to ASU 2025-01, ASU 2024-03 is effective for interim periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the impact of this standard, which is not expected to have a material impact on our financial statements.

Accounting Standards Update 2025-06, “Intangible - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software” (“ASU 2025-06”) to modernize the accounting for software costs that are accounted for under Subtopic 350-40, Intangibles—Goodwill and Other—Internal-Use Software (referred to as “internal-use software”). The amendments in this Update are effective for all entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The Company is currently evaluating the impact of this standard, which is not expected to have a material impact on our financial statements.

Subsequent Events

The Company has evaluated subsequent events occurring after December 31, 2025 up to the date these financial statements were issued and filed with the Securities and Exchange Commission and has not identified any subsequent events.
v3.25.4
Earnings Per Share
 6 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Share
2.
Earnings Per Share

Basic earnings per share represents income available to common stockholders divided by the weighted-average number of common shares outstanding. Diluted earnings per share have been calculated in a manner similar to that of basic earnings per share except that weighted-average number of common shares outstanding is increased to include the number of additional common shares that would have been outstanding if all potential dilutive common shares (such as those resulting from the exercise of stock options and unvested restricted stock awards) were issued during the period, computed using the treasury stock method. Unallocated ESOP shares are not deemed outstanding for earnings per share calculations. For the three and six months ended December 31, 2025, there were 605,225 common stock equivalents that were not included in the computation of diluted earnings per share because to do so would be anti-dilutive. Shares where the assumed exercise price is greater than the average market price of the common shares are considered anti-dilutive.

The following table presents the composition of the weighted average common shares used in the earnings per share calculation:

 

 

 

Three Months Ended December 31,

 

 

Six Months Ended December 31,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Net income

 

$

834

 

 

$

1,021

 

 

$

1,527

 

 

$

2,388

 

Weighted average number of common
   shares outstanding

 

 

8,534,724

 

 

 

9,319,791

 

 

 

8,672,493

 

 

 

9,411,676

 

Less: Average unallocated ESOP shares

 

 

(651,293

)

 

 

(689,325

)

 

 

(656,047

)

 

 

(694,079

)

Less: Average unvested restricted stock
   awards

 

 

(299,543

)

 

 

(42,370

)

 

 

(301,887

)

 

 

(21,185

)

Weighted average common shares
   outstanding used to calculate basic
   earnings per common share

 

 

7,583,888

 

 

 

8,588,096

 

 

 

7,714,559

 

 

 

8,696,412

 

Add: Dilutive effect of common stock
   equivalents

 

 

110,681

 

 

 

2,885

 

 

 

95,953

 

 

 

1,442

 

Weighted average common shares
   outstanding used to calculate diluted
   earnings per common share

 

 

7,694,569

 

 

 

8,590,981

 

 

 

7,810,512

 

 

 

8,697,854

 

Basic income per common share

 

$

0.11

 

 

$

0.12

 

 

$

0.20

 

 

$

0.27

 

Diluted income per common share

 

$

0.11

 

 

$

0.12

 

 

$

0.20

 

 

$

0.27

 
v3.25.4
Investment Securities
 6 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Investment Securities
3.
Investment Securities

The Company owned no investment securities available-for-sale at December 31, 2025 or June 30, 2025. The amortized cost and approximate fair value of securities held-to-maturity are as follows at the dates indicated:

 

 

December 31, 2025

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

 

 

(In thousands)

 

Federal National Mortgage Association

 

$

82,396

 

 

$

4

 

 

$

(11,958

)

 

$

70,442

 

Federal Home Loan Mortgage Corporation

 

 

42,452

 

 

 

2

 

 

 

(5,416

)

 

 

37,038

 

Government National Mortgage Association

 

 

196

 

 

 

3

 

 

 

—

 

 

 

199

 

Subordinated Debt

 

 

13,750

 

 

 

—

 

 

 

(339

)

 

 

13,411

 

CMO

 

 

1,811

 

 

 

—

 

 

 

(82

)

 

 

1,729

 

Foreign Government Bonds

 

 

200

 

 

 

—

 

 

 

—

 

 

 

200

 

Total

 

$

140,805

 

 

$

9

 

 

$

(17,795

)

 

$

123,019

 

 

 

June 30, 2025

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

 

 

(In thousands)

 

Federal National Mortgage Association

 

$

86,657

 

 

$

2

 

 

$

(14,436

)

 

$

72,223

 

Federal Home Loan Mortgage Corporation

 

 

45,009

 

 

 

1

 

 

 

(6,488

)

 

 

38,522

 

Government National Mortgage Association

 

 

218

 

 

 

1

 

 

 

—

 

 

 

219

 

Subordinated Debt

 

 

7,750

 

 

 

—

 

 

 

(609

)

 

 

7,141

 

CMO

 

 

2,011

 

 

 

—

 

 

 

(121

)

 

 

1,890

 

Foreign Government Bonds

 

 

200

 

 

 

—

 

 

 

—

 

 

 

200

 

Total

 

$

141,845

 

 

$

4

 

 

$

(21,654

)

 

$

120,195

 

 

There were no purchases or sales of available-for sale securities during the three and six months ended December 31, 2025 or 2024.

The amortized cost and fair value of securities held-to-maturity by contractual maturity at December 31, 2025 are shown in the following table. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations. Securities are assigned to categories based on contractual maturity except for mortgage-backed securities and CMOs, which are based on the estimated average life of the securities.

 

 

December 31, 2025

 

 

Amortized
Cost

 

 

Fair
Value

 

 

 

(In thousands)

 

Due within 1 year

 

$

200

 

 

$

200

 

Due after 1 but within 5 years

 

 

—

 

 

 

—

 

Due after 5 but within 10 years

 

 

13,750

 

 

 

13,411

 

Due after 10 years

 

 

—

 

 

 

—

 

Mortgage-backed securities

 

 

126,855

 

 

 

109,408

 

Total

 

$

140,805

 

 

$

123,019

 

 

During the three and six months ended December 31, 2025, the Company purchased a $6.0 million fixed-to-floating rate subordinated note at 7.75% per annum for the first five years, which then floats based on a benchmark rate (as defined) for the remaining five years. There were no purchases of securities held-to-maturity during the three and six months ended December 31, 2024.

On a quarterly basis, management evaluates whether there is a credit loss associated with any declines in fair value on its securities portfolio. Management considers the nature of the collateral, default rates, delinquency rates, credit ratings and interest rate changes, among other factors. The Company's held-to-maturity portfolio predominantly consists of mortgage-backed securities issued by the U.S. government and government-sponsored agencies for which management has determined to have a zero expected credit loss. The Company's held-to-maturity portfolio also consists of three investment grade subordinated notes issued by bank holding companies located in New Jersey. At December 31, 2025 and June 30, 2025, the Company had no securities held-to-maturity that were past due 30 days or more with respect to principal or interest payments.

Equity securities consisted of several equity investments in consumer banking and financial services companies. At December 31, 2025 and June 30, 2025, the Company had $33,000 and $37,000, respectively, in equity securities recorded at fair value. The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities for the three and six months ended December 31, 2025 and 2024:

 

 

 

Three Months Ended December 31,

 

 

Six Months Ended December 31,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(In thousands)

 

 

(In thousands)

 

Net (loss) gains recognized on equity securities

 

$

(1

)

 

$

3

 

 

$

(4

)

 

$

5

 

Less: Net gains recognized on equity
   securities sold/acquired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net unrealized (loss) gains recognized on
   equity securities

 

$

(1

)

 

$

3

 

 

$

(4

)

 

$

5

 

 

At December 31, 2025 and June 30, 2025, mortgage-backed securities with a carrying value of approximately $1.6 million and $1.7 million, respectively, were pledged as collateral to secure public funds on deposit. During the three and six months ended December 31, 2025 and 2024, there were no sales of securities held-to-maturity.

v3.25.4
Loans Receivable
 6 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Loans Receivable
4.
Loans Receivable

 

Loans at December 31, 2025 and June 30, 2025 are summarized as follows:

 

 

December 31, 2025

 

 

June 30, 2025

 

 

 

(In thousands)

 

Owner occupied commercial real estate loans

 

$

51,666

 

 

$

55,127

 

Other commercial real estate loans

 

 

91,616

 

 

 

72,542

 

Multi-family loans

 

 

225,043

 

 

 

219,934

 

Commercial and industrial loans

 

 

15,792

 

 

 

12,253

 

Total commercial loans

 

 

384,117

 

 

 

359,856

 

Residential mortgage loans

 

 

440,100

 

 

 

427,345

 

Consumer and other loans

 

 

14,397

 

 

 

13,038

 

Total loans

 

 

838,614

 

 

 

800,239

 

Allowance for credit losses

 

 

(5,582

)

 

 

(5,362

)

Deferred loan costs, net

 

 

2,335

 

 

 

2,289

 

Loans receivable, net

 

$

835,367

 

 

$

797,166

 

 

The Company engages primarily in the lending of fixed-rate and adjustable-rate commercial real estate and residential mortgage loans. Lending activities are targeted to individuals within the Company's geographic footprint. Risks associated with lending activities include changes in economic conditions and interest rates, which can adversely impact both the ability of borrowers to repay their loans and the value of the associated collateral. Credit risk exposure is minimized by the evaluation of the creditworthiness of the borrower, including debt-to-income ratios, credit scores and conservative underwriting standards with loan-to-value ratios of generally no more than 75% for commercial loans, 80% for multifamily loans and 80% for residential loans. Residential mortgage loans granted in excess of the 80% loan-to-value ratio criterion generally require private mortgage insurance. The real estate home equity portfolio consists of fixed-rate home equity loans and variable-rate home equity lines of credit. Risks associated with second lien loans secured by residential properties are generally lower than commercial loans

and include general economic risks, such as the strength of the job market, employment stability and the strength of the housing market.

At December 31, 2025 and June 30, 2025, commercial loans represented 45.8% and 45.0% of net loans, respectively, while residential mortgage, consumer and other loans represented 54.2% and 55.0%, respectively, nearly all of which is concentrated within our primary market area in New Jersey. At December 31, 2025 and June 30, 2025, the Company held 95.9% and 96.6%, respectively, of its commercial loan portfolio in commercial real estate, consisting of multi-family, mixed use and owner occupied loans, with less than 2.60% secured by office buildings as of December 31, 2025 and less than 1.0% secured by office buildings as of June 30, 2025. The Company had one non-accrual commercial loan of $176,000 at December 31, 2025 and no non-accrual loans at June 30, 2025.

The following tables summarize the activity in the allowance for credit losses by loan class for the three and six months ended December 31, 2025 and 2024.

 

 

Three Months Ended December 31, 2025

 

 

Owner
Occupied
Commercial
Real Estate

 

 

Other
Commercial
Real Estate

 

 

Multi-
Family

 

 

Commercial
and
Industrial

 

 

Residential
Mortgage

 

 

Consumer
and Other

 

 

Total

 

 

 

(In thousands)

 

Allowance for Credit
   Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

637

 

 

$

219

 

 

$

1,857

 

 

$

196

 

 

$

2,376

 

 

$

248

 

 

$

5,533

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Recoveries

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provisions (credits)

 

 

(8

)

 

 

15

 

 

 

51

 

 

 

(21

)

 

 

1

 

 

 

11

 

 

 

49

 

Ending balance

 

$

629

 

 

$

234

 

 

$

1,908

 

 

$

175

 

 

$

2,377

 

 

$

259

 

 

$

5,582

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

629

 

 

$

234

 

 

$

1,908

 

 

$

175

 

 

$

2,377

 

 

$

259

 

 

$

5,582

 

Loans Receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

51,666

 

 

$

91,616

 

 

$

225,043

 

 

$

15,792

 

 

$

440,100

 

 

$

14,397

 

 

$

838,614

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

176

 

 

$

—

 

 

$

—

 

 

$

176

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

51,666

 

 

$

91,616

 

 

$

225,043

 

 

$

15,616

 

 

$

440,100

 

 

$

14,397

 

 

$

838,438

 

 

 

Three Months Ended December 31, 2024

 

 

Owner
Occupied
Commercial
Real Estate

 

 

Other
Commercial
Real Estate

 

 

Multi-
Family

 

 

Commercial
and
Industrial

 

 

Residential
Mortgage

 

 

Consumer
and Other

 

 

Total

 

 

 

(In thousands)

 

Allowance for Credit
   Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

789

 

 

$

198

 

 

$

1,889

 

 

$

139

 

 

$

1,839

 

 

$

221

 

 

$

5,075

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Recoveries

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provisions (credits)

 

 

(39

)

 

 

(2

)

 

 

14

 

 

 

(7

)

 

 

37

 

 

 

9

 

 

 

12

 

Ending balance

 

$

750

 

 

$

196

 

 

$

1,903

 

 

$

132

 

 

$

1,876

 

 

$

230

 

 

$

5,087

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

750

 

 

$

196

 

 

$

1,903

 

 

$

132

 

 

$

1,876

 

 

$

230

 

 

$

5,087

 

Loans Receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

56,658

 

 

$

72,388

 

 

$

211,531

 

 

$

11,484

 

 

$

414,403

 

 

$

12,219

 

 

$

778,683

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

56,658

 

 

$

72,388

 

 

$

211,531

 

 

$

11,484

 

 

$

414,403

 

 

$

12,219

 

 

$

778,683

 

 

 

 

Six Months Ended December 31, 2025

 

 

Owner
Occupied
Commercial
Real Estate

 

 

Other
Commercial
Real Estate

 

 

Multi-
Family

 

 

Commercial
and
Industrial

 

 

Residential
Mortgage

 

 

Consumer
and Other

 

 

Total

 

 

 

(In thousands)

 

Allowance for Credit
   Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

675

 

 

$

179

 

 

$

1,830

 

 

$

135

 

 

$

2,308

 

 

$

235

 

 

$

5,362

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Recoveries

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provisions (credits)

 

 

(46

)

 

 

55

 

 

 

78

 

 

 

40

 

 

 

70

 

 

 

24

 

 

 

221

 

Ending balance

 

$

629

 

 

$

234

 

 

$

1,908

 

 

$

175

 

 

$

2,377

 

 

$

259

 

 

$

5,582

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

629

 

 

$

234

 

 

$

1,908

 

 

$

175

 

 

$

2,377

 

 

$

259

 

 

$

5,582

 

Loans Receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

51,666

 

 

$

91,616

 

 

$

225,043

 

 

$

15,792

 

 

$

440,100

 

 

$

14,397

 

 

$

838,614

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

176

 

 

$

—

 

 

$

—

 

 

$

176

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

51,666

 

 

$

91,616

 

 

$

225,043

 

 

$

15,616

 

 

$

440,100

 

 

$

14,397

 

 

$

838,438

 

 

 

 

Six Months Ended December 31, 2024

 

 

Owner
Occupied
Commercial
Real Estate

 

 

Other
Commercial
Real Estate

 

 

Multi-
Family

 

 

Commercial
and
Industrial

 

 

Residential
Mortgage

 

 

Consumer
and Other

 

 

Total

 

 

 

(In thousands)

 

Allowance for Credit
   Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

1,331

 

 

$

502

 

 

$

1,998

 

 

$

146

 

 

$

1,175

 

 

$

77

 

 

$

5,229

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Recoveries

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provisions (credits)

 

 

(581

)

 

 

(306

)

 

 

(95

)

 

 

(14

)

 

 

701

 

 

 

153

 

 

 

(142

)

Ending balance

 

$

750

 

 

$

196

 

 

$

1,903

 

 

$

132

 

 

$

1,876

 

 

$

230

 

 

$

5,087

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

750

 

 

$

196

 

 

$

1,903

 

 

$

132

 

 

$

1,876

 

 

$

230

 

 

$

5,087

 

Loans Receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

56,658

 

 

$

72,388

 

 

$

211,531

 

 

$

11,484

 

 

$

414,403

 

 

$

12,219

 

 

$

778,683

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

56,658

 

 

$

72,388

 

 

$

211,531

 

 

$

11,484

 

 

$

414,403

 

 

$

12,219

 

 

$

778,683

 

 

The following table presents the credit risk profile of loans by class and fiscal year of origination as of December 31, 2025 and June 30, 2025:

 

 

December 31, 2025

 

 

2026

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

Prior

 

 

Revolving

 

 

Total

 

 

 

(In thousands)

 

Owner Occupied Commercial
   Real Estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

797

 

 

$

—

 

 

$

6,950

 

 

$

4,984

 

 

$

7,736

 

 

$

31,199

 

 

$

—

 

 

$

51,666

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Owner Occupied Commercial
   Real Estate

 

$

797

 

 

$

—

 

 

$

6,950

 

 

$

4,984

 

 

$

7,736

 

 

$

31,199

 

 

$

—

 

 

$

51,666

 

Other Commercial Real Estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

22,620

 

 

$

6,411

 

 

$

1,350

 

 

$

3,487

 

 

$

902

 

 

$

56,846

 

 

$

—

 

 

$

91,616

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Other Commercial Real Estate

 

$

22,620

 

 

$

6,411

 

 

$

1,350

 

 

$

3,487

 

 

$

902

 

 

$

56,846

 

 

$

—

 

 

$

91,616

 

Multi-Family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

11,074

 

 

$

53,047

 

 

$

28,400

 

 

$

25,616

 

 

$

22,153

 

 

$

84,753

 

 

$

—

 

 

$

225,043

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Multi-Family

 

$

11,074

 

 

$

53,047

 

 

$

28,400

 

 

$

25,616

 

 

$

22,153

 

 

$

84,753

 

 

$

—

 

 

$

225,043

 

Commercial and Industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

5,442

 

 

$

1,374

 

 

$

833

 

 

$

3,075

 

 

$

1,282

 

 

$

3,610

 

 

$

—

 

 

$

15,616

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

176

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

176

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Commercial and Industrial

 

$

5,442

 

 

$

1,374

 

 

$

833

 

 

$

3,251

 

 

$

1,282

 

 

$

3,610

 

 

$

—

 

 

$

15,792

 

Residential Mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

36,204

 

 

$

68,523

 

 

$

58,479

 

 

$

49,202

 

 

$

69,514

 

 

$

158,178

 

 

$

—

 

 

$

440,100

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Residential Mortgage

 

$

36,204

 

 

$

68,523

 

 

$

58,479

 

 

$

49,202

 

 

$

69,514

 

 

$

158,178

 

 

$

—

 

 

$

440,100

 

Consumer and Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

783

 

 

$

767

 

 

$

1,078

 

 

$

333

 

 

$

60

 

 

$

469

 

 

$

10,907

 

 

$

14,397

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Consumer and Other

 

$

783

 

 

$

767

 

 

$

1,078

 

 

$

333

 

 

$

60

 

 

$

469

 

 

$

10,907

 

 

$

14,397

 

Total Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

76,920

 

 

$

130,122

 

 

$

97,090

 

 

$

86,697

 

 

$

101,647

 

 

$

335,055

 

 

$

10,907

 

 

$

838,438

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

176

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

176

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Loans

 

$

76,920

 

 

$

130,122

 

 

$

97,090

 

 

$

86,873

 

 

$

101,647

 

 

$

335,055

 

 

$

10,907

 

 

$

838,614

 

Gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

June 30, 2025

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving

 

 

Total

 

 

 

(In thousands)

 

Owner Occupied Commercial
   Real Estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

$

7,013

 

 

$

6,761

 

 

$

7,897

 

 

$

5,335

 

 

$

28,121

 

 

$

—

 

 

$

55,127

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Owner Occupied Commercial
   Real Estate

 

$

—

 

 

$

7,013

 

 

$

6,761

 

 

$

7,897

 

 

$

5,335

 

 

$

28,121

 

 

$

—

 

 

$

55,127

 

Other Commercial Real Estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

6,451

 

 

$

1,360

 

 

$

3,523

 

 

$

917

 

 

$

1,695

 

 

$

58,596

 

 

$

—

 

 

$

72,542

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Other Commercial Real Estate

 

$

6,451

 

 

$

1,360

 

 

$

3,523

 

 

$

917

 

 

$

1,695

 

 

$

58,596

 

 

$

—

 

 

$

72,542

 

Multi-Family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

49,898

 

 

$

28,582

 

 

$

28,305

 

 

$

22,424

 

 

$

13,092

 

 

$

77,633

 

 

$

—

 

 

$

219,934

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Multi-Family

 

$

49,898

 

 

$

28,582

 

 

$

28,305

 

 

$

22,424

 

 

$

13,092

 

 

$

77,633

 

 

$

—

 

 

$

219,934

 

Commercial and Industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

1,388

 

 

$

883

 

 

$

4,178

 

 

$

2,404

 

 

$

52

 

 

$

3,348

 

 

$

—

 

 

$

12,253

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Commercial and Industrial

 

$

1,388

 

 

$

883

 

 

$

4,178

 

 

$

2,404

 

 

$

52

 

 

$

3,348

 

 

$

—

 

 

$

12,253

 

Residential Mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

73,256

 

 

$

61,827

 

 

$

50,561

 

 

$

72,372

 

 

$

66,725

 

 

$

102,604

 

 

$

—

 

 

$

427,345

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Residential Mortgage

 

$

73,256

 

 

$

61,827

 

 

$

50,561

 

 

$

72,372

 

 

$

66,725

 

 

$

102,604

 

 

$

—

 

 

$

427,345

 

Consumer and Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

1,313

 

 

$

1,231

 

 

$

357

 

 

$

730

 

 

$

1,116

 

 

$

1,638

 

 

$

6,653

 

 

$

13,038

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Consumer and Other

 

$

1,313

 

 

$

1,231

 

 

$

357

 

 

$

730

 

 

$

1,116

 

 

$

1,638

 

 

$

6,653

 

 

$

13,038

 

Total Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

132,306

 

 

$

100,896

 

 

$

93,685

 

 

$

106,744

 

 

$

88,015

 

 

$

271,940

 

 

$

6,653

 

 

$

800,239

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Loans

 

$

132,306

 

 

$

100,896

 

 

$

93,685

 

 

$

106,744

 

 

$

88,015

 

 

$

271,940

 

 

$

6,653

 

 

$

800,239

 

Gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

As of December 31, 2025 the Company had one commercial and industrial loan in the amount of $176,000 that was considered collateral-dependent and was placed on non-accrual. This loan was fully secured by personal assets of the borrower. In January 2026, full payment was received and no loss was recorded on the payoff. As of June 30, 2025, the Company had no collateral-dependent or non-accrual loans.

 

The following tables present the classes of loans summarized by past due status as of December 31, 2025 and June 30, 2025:

 

 

December 31, 2025

 

 

 

Delinquency Status

 

 

30-59 Days
Past Due

 

 

60-89 Days
Past Due

 

 

90 Days or
More Past
Due and
Still
Accruing
Past Due

 

 

Non-
Accrual

 

 

Total
Past
Due

 

 

Total
Current

 

 

Total

 

 

 

(In thousands)

 

Owner occupied commercial
   real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

51,666

 

 

$

51,666

 

Other commercial real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

91,616

 

 

 

91,616

 

Multi-family

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

225,043

 

 

 

225,043

 

Commercial and industrial

 

 

—

 

 

 

—

 

 

 

—

 

 

 

176

 

 

 

—

 

 

 

15,616

 

 

 

15,792

 

Residential mortgage

 

 

1,830

 

 

 

102

 

 

 

—

 

 

 

—

 

 

 

1,932

 

 

 

438,168

 

 

 

440,100

 

Consumer and other

 

 

128

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

128

 

 

 

14,269

 

 

 

14,397

 

Total

 

$

1,958

 

 

$

102

 

 

$

—

 

 

$

176

 

 

$

2,060

 

 

$

836,378

 

 

$

838,614

 

 

 

June 30, 2025

 

 

 

Delinquency Status

 

 

30-59 Days
Past Due

 

 

60-89 Days
Past Due

 

 

90 Days or
More Past
Due and
Still
Accruing
Past Due

 

 

Non-
Accrual

 

 

Total
Past
Due

 

 

Total
Current

 

 

Total

 

 

 

(In thousands)

 

Owner occupied commercial
   real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

55,127

 

 

$

55,127

 

Other commercial real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

72,542

 

 

 

72,542

 

Multi-family

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

219,934

 

 

 

219,934

 

Commercial and industrial

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

12,253

 

 

 

12,253

 

Residential mortgage

 

 

1,467

 

 

 

478

 

 

 

—

 

 

 

—

 

 

 

1,945

 

 

 

425,400

 

 

 

427,345

 

Consumer and other

 

 

67

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

67

 

 

 

12,971

 

 

 

13,038

 

Total

 

$

1,534

 

 

$

478

 

 

$

—

 

 

$

—

 

 

$

2,012

 

 

$

798,227

 

 

$

800,239

 
At December 31, 2025 and June 30, 2025, the Company had no foreclosed real estate owned and there were no loan modifications to borrowers experiencing financial difficulty.
v3.25.4
Premises and Equipment
 6 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Premises and Equipment
5.
Premises and Equipment

Premises and equipment at December 31, 2025 and June 30, 2025 are summarized as follows:

 

 

December 31, 2025

 

 

June 30, 2025

 

 

(In thousands)

 

Land

 

$

926

 

 

$

926

 

Buildings and leasehold improvements

 

 

9,058

 

 

 

9,024

 

Furniture, fixtures and equipment

 

 

6,659

 

 

 

6,123

 

Total

 

 

16,643

 

 

 

16,073

 

Accumulated depreciation

 

 

(11,604

)

 

 

(11,131

)

Net

 

$

5,039

 

 

$

4,942

 

 

 

Depreciation expense amounted to $473,000 and $502,000 for the six months ended December 31, 2025 and 2024, respectively.

v3.25.4
Leases
 6 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases
6.
Leases

The Company accounts for its leases in accordance with ASC Topic 842. The Company's right-of-use asset and operating lease liability are recognized at lease commencement based on the present value of the remaining lease payment obligations using discount rates that represent the Company’s incremental borrowing rate as of the lease commencement dates. The Company leases only office space and equipment under operating leases, with original lease terms ranging from five to ten years. The Company elected not to include short-term leases with initial terms of twelve months or less on the Consolidated Statements of Financial Condition. As of December 31, 2025, the Company had not entered into any material leases that have not yet commenced. The operating lease agreements recognized on the Consolidated Statements of Financial Condition as a right-of-use asset and a corresponding lease liability, as well as other information related to the Company's operating leases, are summarized in the table below.

 

 

 

Three Months Ended December 31,

 

 

Six Months Ended December 31,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

(In thousands)

 

 

(In thousands)

 

Operating lease cost

 

$

219

 

 

$

216

 

 

$

438

 

 

$

455

 

Cash paid for amounts included in the
   measurement of lease liabilities

 

$

213

 

 

$

218

 

 

$

425

 

 

$

451

 

 

 

 

December 31, 2025

 

 

June 30, 2025

 

 

(In thousands)

 

Right-of-use asset

 

$

2,743

 

 

$

3,156

 

Lease liability

 

$

2,785

 

 

$

3,211

 

Weighted-average remaining lease term, in years

 

 

3.82

 

 

 

4.23

 

Weighted-average discount rate

 

 

1.50

%

 

 

1.50

%

Future undiscounted minimum lease payments for operating leases with initial terms of one year or more as of December 31, 2025 are as follows:

 

December 31, 2025

 

(Dollars in
thousands)

 

2026

 

$

406

 

2027

 

 

797

 

2028

 

 

695

 

2029

 

 

643

 

2030

 

 

262

 

Thereafter

 

 

62

 

Total future minimum lease payments

 

 

2,865

 

Less: imputed interest

 

 

(80

)

Total

 

$

2,785

 
v3.25.4
Goodwill and Intangible Assets
 6 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
7.
Goodwill and Intangible Assets

Goodwill and core deposit intangibles resulted from the Company's acquisition of Regal Bancorp in September 2023, which was accounted for under FASB ASC 805, Business Combinations. As of December 31, 2025, the carrying amount of goodwill was $20.4 million and the carrying amount of the core deposit intangibles, net of accumulated amortization, was $5.7 million. The intangible assets are related to core deposits and are being amortized over 10 years, using an accelerated method.

The changes in the carrying amount of goodwill and core deposit intangibles for the six months ended December 31, 2025 and 2024 are summarized as follows:

 

 

 

Six Months Ended December 31,

 

 

 

2025

 

 

2024

 

 

 

(In thousands)

 

Balance at beginning of period

 

$

26,708

 

 

$

28,141

 

Amortization expense

 

 

(614

)

 

 

(753

)

Balance at end of period

 

$

26,094

 

 

$

27,388

 

 

Goodwill and intangible assets at December 31, 2025 and June 30, 2025:

 

 

 

December 31, 2025

 

 

June 30, 2025

 

 

 

(In thousands)

 

Goodwill

 

$

20,417

 

 

$

20,417

 

Core deposit intangibles, net of amortization

 

 

5,677

 

 

 

6,291

 

Goodwill and intangible assets

 

$

26,094

 

 

$

26,708

 

 

As of December 31, 2025, the amortization of the core deposit intangibles in future fiscal years is as follows:

 

 

 

Amount

 

 

 

(In thousands)

 

2026

 

$

554

 

2027

 

 

951

 

2028

 

 

774

 

2029

 

 

657

 

2030

 

 

650

 

Thereafter

 

 

2,091

 

Total

 

$

5,677

 
v3.25.4
Deposits
 6 Months Ended
Dec. 31, 2025
Deposits Liabilities Disclosure [Abstract]  
Deposits
8.
Deposits

Deposits at December 31, 2025 and June 30, 2025 consisted of the following:

 

 

December 31, 2025

 

 

June 30, 2025

 

 

(In thousands)

 

Demand accounts:

 

 

 

 

 

 

Interest-bearing

 

$

352,366

 

 

$

319,829

 

Noninterest-bearing

 

 

121,715

 

 

 

114,107

 

Total demand accounts

 

 

474,081

 

 

 

433,936

 

Savings and club

 

 

130,139

 

 

 

143,881

 

Certificates of deposit

 

 

287,320

 

 

 

268,205

 

Total

 

$

891,540

 

 

$

846,022

 

 

As of December 31, 2025 and June 30, 2025, the aggregate amount of uninsured deposits (deposits in amounts greater than $250,000, which is the maximum amount for federal deposit insurance) was $172.6 million and $145.3 million, respectively. Certificates of deposit with balances in excess of the Federal Deposit Insurance Corporation (the "FDIC") insurance limit of $250,000 at December 31, 2025 and June 30, 2025 amounted to approximately $72.1 million and $58.9 million, respectively. Uninsured deposits totaling $30.3 million and $31.8 million at December 31, 2025 and June 30, 2025, respectively, of municipalities and local government agencies are protected under a New Jersey supplemental insurance program with collateralized assets.

 

At December 31, 2025, the scheduled maturities of certificates of deposit are as follows:

 

 

 

(In thousands)

 

Year ending December 31, 2026

 

$

244,646

 

Year ending December 31, 2027

 

 

38,339

 

Year ending December 31, 2028

 

 

2,873

 

Year ending December 31, 2029

 

 

682

 

Year ending December 31, 2030

 

 

780

 

Total

 

$

287,320

 
v3.25.4
Borrowings
 6 Months Ended
Dec. 31, 2025
Federal Home Loan Banks [Abstract]  
Borrowings
9.
Borrowings

The Company can borrow overnight funds from the Federal Home Loan Bank (the "FHLB") under a redesigned overnight advance program up to the Company’s maximum borrowing capacity based on the Company’s ability to collateralize such borrowings. At December 31, 2025 and June 30, 2025, the Company's maximum borrowing capacity at the FHLB was $100.0 million.

At December 31, 2025, the Company had advances of $35.0 million and $15.0 million outstanding with the Federal Home Loan Bank of New York at fixed rates of 3.67% and 4.03%, respectively, maturing on September 8, 2027 and February 17, 2026, respectively. At June 30, 2025, the Company had a $30.0 million advance at a fixed rate of 4.42%, which matured on July 7, 2025.

As of December 31, 2025 and June 30, 2025, the Company's Board of Directors had authorized borrowings of up to $25.0 million from the Federal Reserve Bank of New York (the “FRB-NY”), secured by pledges of the Company’s qualifying loan portfolio and generally on overnight terms with an interest rate quoted at the time of the borrowing. The Company had no outstanding borrowings from the FRB-NY at December 31, 2025 or June 30, 2025.
v3.25.4
Commitments and Contingencies
 6 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
10.
Commitments and Contingencies

The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the statement of financial position.

The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments.

At December 31, 2025, total unfunded loan-related commitments, including lines of credit, amounted to $68.4 million, comprised of $43.3 million for unused equity lines of credit and $25.1 million to originate and purchase loans, expiring within three months.

At June 30, 2025, total unfunded loan-related commitments, including lines of credit, amounted to $79.0 million, comprised of $38.0 million for unused equity lines of credit and $41.0 million to originate and purchase loans, expiring within three months.

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained if deemed necessary by the Company upon extension of credit is based on management’s credit evaluation of the counterparty.

A reserve for unfunded commitments is recognized and included in other liabilities on the Consolidated Statements of Financial Condition. Periodic adjustments to either increase or decrease the reserve are recognized in non-interest expense in the Consolidated Statements of Income. The Company recorded $7,000 and $37,000 of expense for the six months ended December 31, 2025 and 2024, respectively. The balance for unfunded commitments was $44,000 at December 31, 2025 and $42,000 at June 30, 2025.
v3.25.4
Stock- Based Compensation
 6 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock- Based Compensation
11.
Stock-Based Compensation

The Company has several compensation and benefit arrangements involving shares of the Company’s stock. Stock-based compensation expense involves the following components for the three and six month periods ended December 31, 2025, and 2024:

 

 

 

Three Months Ended December 31,

 

Six Months Ended December 31,

 

 

 

2025

 

 

2024

 

2025

 

2024

 

 

 

(In thousands)

 

 

(In thousands)

 

(In thousands)

 

(In thousands)

 

Fair value of 9,508 and 19,016 shares earned
   by ESOP participants

 

$

146

 

 

 

108

 

 

284

 

 

202

 

Stock options

 

 

176

 

 

17

 

352

 

17

 

Restricted stock awards

 

 

183

 

 

 

17

 

 

366

 

 

17

 

Total stock-based compensation expense

 

$

505

 

 

$

142

 

$

1,002

 

$

236

 

 

On November 20, 2024, the Company adopted the SR Bancorp, Inc. 2024 Equity Incentive Plan ("2024 Equity Plan”). The 2024 Equity Plan authorizes 1,331,110 shares of common stock for equity-based compensation awards including restricted stock awards, restricted stock units, non-qualified stock options, and incentive stock options. As of December 31, 2025, there were 183,959 shares available for future grants.

Stock Options

On November 21, 2024, the stockholders of the Company granted 237,695 stock options to non-employee directors. On January 29, 2025 and February 5, 2025, the Company granted 465,889 and 57,009, respectively, of stock options to certain officers and employees of the Company. On December 17, 2025, the Company granted 58,805 shares to certain executive officers. The stock option grants have a contractual term of 10 years. The stock options vest in equal annual installments over a five-year period beginning on the first anniversary of the date of grant. The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model.

The following table sets forth information regarding options granted December 17, 2025:

 

Date of grant

 

December 17, 2025

 

Options granted

 

 

58,805

 

Exercise Price

 

$

16.55

 

Vesting period (years)

 

 

5.00

 

Expiration date

 

December 17, 2035

 

Expected Volatility(1)

 

 

28.70

%

Expected term (years)(2)

 

 

6.50

 

Expected dividend yield(3)

 

 

1.44

%

Forfeiture rate

 

 

0.00

%

Risk free rate of return(4)

 

 

3.91

%

Fair value per option

 

$

5.18

 

 

The following table represents stock option activities for the six months ended December 31, 2025, and 2024, respectively:

 

 

 

Six Months Ended December 31, 2025

 

 

Shares

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining
Contractual
Term (years)

 

 

Aggregate
Intrinsic Value

 

 

(In thousands)

 

Balance at beginning of period

 

 

760,593

 

 

$

12.03

 

 

 

—

 

 

$

—

 

Granted

 

 

58,805

 

 

 

16.55

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Forfeited or expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance at end of period

 

 

819,398

 

 

$

12.36

 

 

 

9.09

 

 

$

2,819

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at end of period

 

 

47,540

 

 

$

11.04

 

 

 

8.90

 

 

$

223

 

 

 

 

Six Months Ended December 31, 2024

 

 

Shares

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining
Contractual
Term (years)

 

 

Aggregate
Intrinsic Value

 

 

(In thousands)

 

Balance at beginning of period

 

 

—

 

 

$

—

 

 

 

—

 

 

$

—

 

Granted

 

 

237,695

 

 

 

11.04

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Forfeited or expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance at end of period

 

 

237,695

 

 

$

11.04

 

 

 

9.89

 

 

$

207

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at end of period

 

 

—

 

 

$

—

 

 

 

—

 

 

$

—

 

 

The aggregate intrinsic values in the preceding tables represent the pre-tax intrinsic values calculated by multiplying the number of in the-money shares by the difference between the Company’s closing stock price on the last trading day of the current reporting period and the exercise price.

Restricted Stock Awards

On November 21, 2024, the Company granted 95,075 restricted stock awards to non-employee directors. On January 29, 2025 and February 5, 2025, the Company granted 186,356 and 22,800, respectively, of restricted stock awards to certain officers and employees. The restricted stock awards vest in equal annual installments over a five-year period beginning on the first anniversary of the date of grant. The restricted stock awards are measured based on grant-date fair value, which reflects the closing price of the Company’s stock on the date of grant.

The following table represents information regarding restricted stock award activities for the six months ended December 31, 2025, and 2024, respectively:

 

 

Six Months Ended
December 31, 2025

 

 

Six Months Ended
December 31, 2024

 

 

Number
of Shares

 

 

Weighted-
Average Grant
Date Fair Value
Per Share

 

 

Number
of Shares

 

 

Weighted-
Average Grant
Date Fair Value
Per Share

 

Balance at beginning of period-non-vested

 

 

304,231

 

 

$

12.03

 

 

 

—

 

 

$

—

 

Granted

 

 

23,522

 

 

 

16.55

 

 

 

95,075

 

 

 

11.04

 

Vested

 

 

(19,015

)

 

 

11.04

 

 

 

—

 

 

 

—

 

Forfeited or expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance at end of period-non-vested

 

 

308,738

 

 

$

12.44

 

 

 

95,075

 

 

$

11.04

 

 

The following table sets forth the total compensation cost related to non-vested awards not yet recognized and the weighted average period (in years) over which it is expected to be recognized as of December 31, 2025:

 

 

Amount

 

 

Weighted
Average
Period (years)

 

 

(In thousands)

 

Stock options

 

$

3,149

 

 

 

4.12

 

Restricted stock awards

 

 

3,344

 

 

 

4.14

 

Total

 

$

6,493

 

 

 

 
v3.25.4
Regulatory Capital
 6 Months Ended
Dec. 31, 2025
Banking and Thrift, Other Disclosure [Abstract]  
Regulatory Capital
12.
Regulatory Capital

The Bank is subject to regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Consolidated Financial Statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of its assets, liabilities and certain off-balance sheet items calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk-weightings and other factors.

Quantitative measures established by regulation to ensure capital adequacy require the maintenance of minimum amounts and ratios (set forth in the following table) of total capital, Tier 1 capital (as defined in the regulations) and common equity Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. A capital conservation buffer of 2.50%, comprised of common equity Tier I capital, is also established above the regulatory minimum capital requirements and must be maintained to avoid limitations on capital distributions.

 

In 2021, the Bank adopted the new community bank leverage ratio framework. This framework simplifies the regulatory capital requirements by requiring the Bank to meet only the Tier 1 capital to average assets (leverage) ratio. The Bank must only maintain a leverage ratio greater than the 9.0% required minimum to be considered well capitalized under this framework. The Bank can opt out of the new framework and return to the risk-weighting framework at any time.

 

Market risk, credit risk, operational risk and deposit outflows are some of the factors that can impact the capital adequacy ratio and in turn, adversely affect the performance of the Bank. As of December 31, 2025, the Bank met all capital adequacy requirements to which it is subject. As of December 31, 2025, the most recent notification from the FDIC categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum ratios as set forth in the following tables. There are no conditions or events since that notification that management believes have changed the Bank's category. The Bank's actual capital amounts and ratios are as follows:

 

 

 

Actual

 

 

To be Well Capitalized
under Prompt Corrective
Action Provisions

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

(In thousands)

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 capital (to average total assets)

 

$

159,779

 

 

 

14.85

%

 

$

96,827

 

 

 

9.00

%

June 30, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 capital (to average total assets)

 

$

162,261

 

 

 

15.51

%

 

$

94,167

 

 

 

9.00

%
v3.25.4
Fair Value Measurements and Disclosures
 6 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements and Disclosures
13.
Fair Value Measurements and Disclosures

The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Additionally, from time to time, the Company may be required to record at fair value other assets or liabilities on a non-recurring basis. These non-recurring fair value adjustments involve the application of lower-of-cost-or-market accounting or write-downs of individual assets.

FASB ASC 820, Fair Value Measurements and Disclosures, defines fair value as an exit price representing the amount that would be received to sell an asset or settle a liability in an orderly transaction between market participants. A three-level hierarchy has been established for fair value measurements based upon the inputs to the valuation of an asset or liability.

Level 1 - Valuation is based on quoted prices in active markets for identical assets or liabilities;

Level 2 - Valuation is determined from quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument;

Level 3 - Valuation is derived from model-based and other techniques in which at least one significant input is unobservable and which may be based on the Company’s own estimates about the assumptions that a market participant would use to value the asset or liability.

For financial assets measured at fair value on a recurring basis as of December 31, 2025 and June 30, 2025, the fair value measurements by level within the fair value hierarchy used are as follows:

 

 

December 31, 2025

 

Description

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

Total

 

 

 

(In thousands)

 

Equity securities

 

 

33

 

 

 

—

 

 

 

—

 

 

 

33

 

Total

 

$

33

 

 

$

—

 

 

$

—

 

 

$

33

 

 

 

June 30, 2025

 

Description

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

Total

 

 

 

(In thousands)

 

Equity securities

 

 

37

 

 

 

—

 

 

 

—

 

 

 

37

 

Total

 

$

37

 

 

$

—

 

 

$

—

 

 

$

37

 

 

The classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

Equity securities are measured at fair value using quoted market prices in an active market for identical assets and are classified as Level 1 in the hierarchy. The estimated fair values of equity securities are determined by obtaining quoted prices on nationally recognized exchanges (Level 1 inputs).

There were no transfers between levels within the fair value hierarchy during the six months ended December 31, 2025 and 2024.

Financial Assets Measured at Fair Value on a Nonrecurring Basis

There were no financial assets measured at fair value on a nonrecurring basis at at December 31, 2025 and June 30, 2025.

Fair Value of Financial Instruments not Carried at Fair Value

The Company discloses fair value information about financial assets, whether or not recognized in the statements of financial condition, for which it is practicable to estimate that value. The fair value of financial assets that are not measured at fair value in the financial statements were based on the exit price notion. The following estimated fair value amounts have been determined using available market information and appropriate valuation methodologies. However, the estimates below are not necessarily indicative of amounts that could be realized in the marketplace. The use of different market assumptions or valuation methodologies may have a material effect on the estimated fair value amounts.

For financial assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at December 31, 2025 and June 30, 2025 were as follows:

 

 

December 31, 2025

 

Description

 

Carrying Value

 

 

Fair Value

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

 

(In thousands)

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

81,842

 

 

$

81,842

 

 

$

81,842

 

 

$

—

 

 

$

—

 

Securities held-to-maturity, at amortized cost

 

 

140,805

 

 

 

123,019

 

 

 

—

 

 

 

123,019

 

 

 

—

 

Restricted equity securities, at cost

 

 

3,508

 

 

 

3,508

 

 

 

—

 

 

 

3,508

 

 

 

—

 

Loans receivable, net

 

 

835,367

 

 

 

823,823

 

 

 

—

 

 

 

—

 

 

 

823,823

 

Accrued interest receivable

 

 

3,201

 

 

 

3,201

 

 

 

—

 

 

 

3,201

 

 

 

—

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

891,540

 

 

 

802,833

 

 

 

516,282

 

 

 

286,551

 

 

 

—

 

Borrowings

 

 

50,000

 

 

 

50,070

 

 

 

50,070

 

 

 

—

 

 

 

—

 

 

 

June 30, 2025

 

Description

 

Carrying Value

 

 

Fair Value

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

 

(In thousands)

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

57,779

 

 

$

57,779

 

 

$

57,779

 

 

$

—

 

 

$

—

 

Securities held-to-maturity, at amortized cost

 

 

141,845

 

 

 

120,195

 

 

 

—

 

 

 

120,195

 

 

 

—

 

Restricted equity securities, at cost

 

 

2,608

 

 

 

2,608

 

 

 

—

 

 

 

2,608

 

 

 

—

 

Loans receivable, net

 

 

797,166

 

 

 

770,473

 

 

 

—

 

 

 

—

 

 

 

770,473

 

Accrued interest receivable

 

 

3,072

 

 

 

3,072

 

 

 

—

 

 

 

3,072

 

 

 

—

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

846,022

 

 

 

764,094

 

 

 

—

 

 

 

764,094

 

 

 

—

 

Borrowings

 

 

30,000

 

 

 

30,000

 

 

 

30,000

 

 

 

—

 

 

 

—

 

 

Securities Held-to-Maturity

All debt securities are measured at fair value using matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices and are classified as Level 2 in the hierarchy.

 

Loans

The fair values of performing loans was estimated by segregating the portfolio into its primary loan categories—owner occupied commercial real estate, other commercial real estate, multi-family, commercial and industrial, residential and consumer. These categories were further disaggregated based upon significant financial characteristics such as type of interest rate (fixed/variable). The Company discounts the contractual cash flows for each loan category using market interest rates for loans with similar terms to borrowers of similar quality and incorporates estimates of future loan prepayments.

Deposits

The fair value of deposits with no defined maturities (e.g. demand deposits, interest-bearing demand accounts, money market accounts and savings accounts) is the amount payable on demand of the liabilities at the reporting date (i.e. their carrying amounts). This approach to estimating fair value excludes the significant benefit that results from the low-cost funding provided by such deposit liabilities, as compared to alternative sources of funding. Deposits with stated maturities (time deposits) have been valued using the present value of cash flows discounted at rates approximating the current market for similar deposits.

Borrowed Funds

The fair value of federal funds purchased is equal to the amount borrowed. The fair value of FRB-NY or FHLB advances represents contractual repayments discounted using interest rates currently available for borrowings with similar characteristics and remaining maturities. The discount rates used are representative of approximate rates currently offered on borrowings with similar characteristics and maturities.
v3.25.4
Summary of Significant Accounting Policies (Policies)
 6 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation and Use of Estimates

Basis of Presentation and Use of Estimates

The accompanying unaudited Consolidated Financial Statements of SR Bancorp, Inc. (the “Company”) have been prepared in conformity with generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q. The Consolidated Financial Statements are prepared on an accrual basis and include the accounts of the Company’s wholly-owned subsidiary, Somerset Regal Bank (the “Bank”) and its wholly-owned subsidiaries Somerset Investment Co. (the “Investment Co.”), RB Properties, LLC and Somerset Consumer Service Corp. (“SCS”). All significant intercompany accounts and transactions have been eliminated in consolidation.

The Investment Co. is a special purpose entity subject to the investment company provisions of the New Jersey Corporation Business Tax Act whose activities are limited to holding investment securities and recognizing income and other gains/losses thereon. RB Properties, LLC was formed to own and manage real estate property acquired through foreclosure or in lieu of foreclosure in connection with loans. RB Properties, LLC is currently inactive. SCS was originally formed to sell annuity products and is currently inactive.

The interim Consolidated Financial Statements reflect all adjustments, including normal and recurring accruals, which are, in the opinion of management, considered necessary for a fair presentation of the financial condition and results of operations for the periods presented. The results of operations for the three and six month periods ended December 31, 2025 are not necessarily indicative of the results of operations that may be expected for the full fiscal year or any other period. In preparing the Consolidated Financial Statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the statements of financial condition and the results of operations for the periods presented. Actual results could differ from these estimates.

Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). These unaudited Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2025.
Business

Business

SR Bancorp, Inc., a Maryland corporation, is the holding company for Somerset Regal Bank. The Bank, which was formed in 1887, serves Essex, Hunterdon, Hudson, Middlesex, Morris, Somerset and Union counties in New Jersey. The Bank is a New Jersey chartered commercial bank subject to the laws and regulations of federal and state agencies. As a locally managed commercial bank, the Bank provides retail and commercial banking services to individuals, businesses and local municipalities through its 14 full-service branch locations.

On September 19, 2023, Somerset Savings Bank, SLA converted from the mutual to stock form of organization at which point, the Company became the holding company for Somerset Regal Bank. On that same date, SR Bancorp, Inc. completed its stock offering. The Company’s common stock began trading on the Nasdaq Capital Market under the trading symbol “SRBK” on September 20, 2023. Somerset Regal Bank was formed through the combination of Somerset Savings Bank, SLA and Regal Bank, two New Jersey chartered institutions, on September 19, 2023.
Concentrations of Credit Risk

Concentrations of Credit Risk

The Company's lending activity is concentrated in loans secured by real estate located primarily in New Jersey. Credit risk exposure in this area of lending is mitigated by adhering to conservative underwriting practices and policies, and close monitoring of the loan portfolio. The Company does not have any significant concentrations to any one industry or customer.

Note 3 discusses the types of investment securities in which the Company invests. Credit risk as it relates to investment activities is mitigated through the monitoring of ratings. The Company's portfolio consists principally of highly-rated government-sponsored agency securities.

Segment Reporting

Segment Reporting

Accounting Standards Codification ("ASC") Topic 280, Segment Reporting, establishes standards for the way business enterprises report information about operating segments in annual Consolidated Financial Statements. The Company operates exclusively as a community bank within the "Community Banking" financial services industry. Community Banking encompasses the Company's primary business, which includes providing a wide range of commercial, retail and related banking services. The Company's primary focus within Community Banking is to grow loans using deposits generated by the Company's branches. Our business is generated principally in central and northern New Jersey.

The Company’s CEO is the chief operating decision maker who uses consolidated net income to assess performance and profitability of our single business segment. The Company assesses consolidated net income on a monthly basis, including variances to budget and prior period results. Consideration is given to performance of components of the business, such as branches and geographic regions, which are then aggregated. This information is used to achieve strategic initiatives by allowing the chief operation decision maker to manage resources that drive our business and earnings. Additionally, consolidated net income is used to benchmark the Company against its banking peers.
Recently Adopted Accounting Changes and Recent Accounting Standards Not Yet Adopted

Recently Adopted Accounting Changes

In November 2023, the Financial Accounting Standards Board (the “FASB”) issued ASU 2023-07 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures ("ASU 2023-07"). This update requires public entities with reportable segments to provide additional and more detailed disclosures. The Company adopted ASU 2023-07 on June 30, 2025, which did not have a material impact on its Consolidated Financial Statements.

In March 2024, the FASB issued ASU 2024-01 Compensation - Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards ("ASU 2024-01"). This update provides guidance for profits interest and similar awards. The Company adopted ASU 2024-01 on July 1, 2025, which did not have a material impact on its Consolidated Financial Statements.

Accounting Standards Update 2024-02, "Codification Improvements" ("ASU 2024-02"), amends the Codification to remove references to various concept statements and impacts a variety of topics in the Codification. The amendments apply to all reporting entities within the scope of the affected accounting guidance, but in most instances the references removed are extraneous and not required to understand or apply the guidance. Generally, the amendments in ASU 2024-02 are not intended to result in significant accounting changes for most entities. The Company adopted ASU 2024-02 on July 1, 2025, which did not have a material impact on its Consolidated Financial Statements.

Recent Accounting Standards Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures". The amendments in this ASU require improved annual income tax disclosures surrounding rate reconciliation, income taxes paid, and other disclosures. This update will be effective for annual financial statements issued for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of this standard, which is not expected to have a material impact on our financial statements.

Accounting Standards Update 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures" ("ASU 2024-03"), requires additional expense disclosures by public entities in the notes to the financial statements. ASU 2024-03 outlines the specific costs that are required to be disclosed, which include costs such as: employee compensation, depreciation, intangible asset amortization, selling costs and depreciation. It also requires qualitative descriptions of the amounts remaining in the relevant income statement captions that are not separately disaggregated quantitatively in the notes to the financial statements and the entity's definition of selling expenses. The disclosures are required for each interim and annual reporting period. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026. In January 2025, the FASB issued Accounting

Standards Update 2025-01, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures: Clarifying the Effective Date" ("ASU 2025-01"), clarifying the interim reporting date when an entity must adopt ASU 2024-03. According to ASU 2025-01, ASU 2024-03 is effective for interim periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the impact of this standard, which is not expected to have a material impact on our financial statements.

Accounting Standards Update 2025-06, “Intangible - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software” (“ASU 2025-06”) to modernize the accounting for software costs that are accounted for under Subtopic 350-40, Intangibles—Goodwill and Other—Internal-Use Software (referred to as “internal-use software”). The amendments in this Update are effective for all entities for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The Company is currently evaluating the impact of this standard, which is not expected to have a material impact on our financial statements.
Subsequent Events

Subsequent Events

The Company has evaluated subsequent events occurring after December 31, 2025 up to the date these financial statements were issued and filed with the Securities and Exchange Commission and has not identified any subsequent events.
v3.25.4
Earnings Per Share (Tables)
 6 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Weighted Average Common Shares used in Earnings per share

The following table presents the composition of the weighted average common shares used in the earnings per share calculation:

 

 

 

Three Months Ended December 31,

 

 

Six Months Ended December 31,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Net income

 

$

834

 

 

$

1,021

 

 

$

1,527

 

 

$

2,388

 

Weighted average number of common
   shares outstanding

 

 

8,534,724

 

 

 

9,319,791

 

 

 

8,672,493

 

 

 

9,411,676

 

Less: Average unallocated ESOP shares

 

 

(651,293

)

 

 

(689,325

)

 

 

(656,047

)

 

 

(694,079

)

Less: Average unvested restricted stock
   awards

 

 

(299,543

)

 

 

(42,370

)

 

 

(301,887

)

 

 

(21,185

)

Weighted average common shares
   outstanding used to calculate basic
   earnings per common share

 

 

7,583,888

 

 

 

8,588,096

 

 

 

7,714,559

 

 

 

8,696,412

 

Add: Dilutive effect of common stock
   equivalents

 

 

110,681

 

 

 

2,885

 

 

 

95,953

 

 

 

1,442

 

Weighted average common shares
   outstanding used to calculate diluted
   earnings per common share

 

 

7,694,569

 

 

 

8,590,981

 

 

 

7,810,512

 

 

 

8,697,854

 

Basic income per common share

 

$

0.11

 

 

$

0.12

 

 

$

0.20

 

 

$

0.27

 

Diluted income per common share

 

$

0.11

 

 

$

0.12

 

 

$

0.20

 

 

$

0.27

 
v3.25.4
Investment Securities (Tables)
 6 Months Ended
Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Summary of Securities Held-to-Maturity

The Company owned no investment securities available-for-sale at December 31, 2025 or June 30, 2025. The amortized cost and approximate fair value of securities held-to-maturity are as follows at the dates indicated:

 

 

December 31, 2025

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

 

 

(In thousands)

 

Federal National Mortgage Association

 

$

82,396

 

 

$

4

 

 

$

(11,958

)

 

$

70,442

 

Federal Home Loan Mortgage Corporation

 

 

42,452

 

 

 

2

 

 

 

(5,416

)

 

 

37,038

 

Government National Mortgage Association

 

 

196

 

 

 

3

 

 

 

—

 

 

 

199

 

Subordinated Debt

 

 

13,750

 

 

 

—

 

 

 

(339

)

 

 

13,411

 

CMO

 

 

1,811

 

 

 

—

 

 

 

(82

)

 

 

1,729

 

Foreign Government Bonds

 

 

200

 

 

 

—

 

 

 

—

 

 

 

200

 

Total

 

$

140,805

 

 

$

9

 

 

$

(17,795

)

 

$

123,019

 

 

 

June 30, 2025

 

 

 

Amortized
Cost

 

 

Gross
Unrealized
Gains

 

 

Gross
Unrealized
Losses

 

 

Fair
Value

 

 

 

(In thousands)

 

Federal National Mortgage Association

 

$

86,657

 

 

$

2

 

 

$

(14,436

)

 

$

72,223

 

Federal Home Loan Mortgage Corporation

 

 

45,009

 

 

 

1

 

 

 

(6,488

)

 

 

38,522

 

Government National Mortgage Association

 

 

218

 

 

 

1

 

 

 

—

 

 

 

219

 

Subordinated Debt

 

 

7,750

 

 

 

—

 

 

 

(609

)

 

 

7,141

 

CMO

 

 

2,011

 

 

 

—

 

 

 

(121

)

 

 

1,890

 

Foreign Government Bonds

 

 

200

 

 

 

—

 

 

 

—

 

 

 

200

 

Total

 

$

141,845

 

 

$

4

 

 

$

(21,654

)

 

$

120,195

 

 
Schedule of Contractual Maturities of Amortized Cost and Fair Value

The amortized cost and fair value of securities held-to-maturity by contractual maturity at December 31, 2025 are shown in the following table. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations. Securities are assigned to categories based on contractual maturity except for mortgage-backed securities and CMOs, which are based on the estimated average life of the securities.

 

 

December 31, 2025

 

 

Amortized
Cost

 

 

Fair
Value

 

 

 

(In thousands)

 

Due within 1 year

 

$

200

 

 

$

200

 

Due after 1 but within 5 years

 

 

—

 

 

 

—

 

Due after 5 but within 10 years

 

 

13,750

 

 

 

13,411

 

Due after 10 years

 

 

—

 

 

 

—

 

Mortgage-backed securities

 

 

126,855

 

 

 

109,408

 

Total

 

$

140,805

 

 

$

123,019

 
Summary of Unrealized and Realized Gains and Losses Recognized in Net Income on Equity Securities The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities for the three and six months ended December 31, 2025 and 2024:

 

 

 

Three Months Ended December 31,

 

 

Six Months Ended December 31,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(In thousands)

 

 

(In thousands)

 

Net (loss) gains recognized on equity securities

 

$

(1

)

 

$

3

 

 

$

(4

)

 

$

5

 

Less: Net gains recognized on equity
   securities sold/acquired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net unrealized (loss) gains recognized on
   equity securities

 

$

(1

)

 

$

3

 

 

$

(4

)

 

$

5

 

 
v3.25.4
Loans Receivable (Tables)
 6 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Summary of Loans

Loans at December 31, 2025 and June 30, 2025 are summarized as follows:

 

 

December 31, 2025

 

 

June 30, 2025

 

 

 

(In thousands)

 

Owner occupied commercial real estate loans

 

$

51,666

 

 

$

55,127

 

Other commercial real estate loans

 

 

91,616

 

 

 

72,542

 

Multi-family loans

 

 

225,043

 

 

 

219,934

 

Commercial and industrial loans

 

 

15,792

 

 

 

12,253

 

Total commercial loans

 

 

384,117

 

 

 

359,856

 

Residential mortgage loans

 

 

440,100

 

 

 

427,345

 

Consumer and other loans

 

 

14,397

 

 

 

13,038

 

Total loans

 

 

838,614

 

 

 

800,239

 

Allowance for credit losses

 

 

(5,582

)

 

 

(5,362

)

Deferred loan costs, net

 

 

2,335

 

 

 

2,289

 

Loans receivable, net

 

$

835,367

 

 

$

797,166

 
Financing Receivable, Allowance for Credit Loss

The following tables summarize the activity in the allowance for credit losses by loan class for the three and six months ended December 31, 2025 and 2024.

 

 

Three Months Ended December 31, 2025

 

 

Owner
Occupied
Commercial
Real Estate

 

 

Other
Commercial
Real Estate

 

 

Multi-
Family

 

 

Commercial
and
Industrial

 

 

Residential
Mortgage

 

 

Consumer
and Other

 

 

Total

 

 

 

(In thousands)

 

Allowance for Credit
   Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

637

 

 

$

219

 

 

$

1,857

 

 

$

196

 

 

$

2,376

 

 

$

248

 

 

$

5,533

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Recoveries

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provisions (credits)

 

 

(8

)

 

 

15

 

 

 

51

 

 

 

(21

)

 

 

1

 

 

 

11

 

 

 

49

 

Ending balance

 

$

629

 

 

$

234

 

 

$

1,908

 

 

$

175

 

 

$

2,377

 

 

$

259

 

 

$

5,582

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

629

 

 

$

234

 

 

$

1,908

 

 

$

175

 

 

$

2,377

 

 

$

259

 

 

$

5,582

 

Loans Receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

51,666

 

 

$

91,616

 

 

$

225,043

 

 

$

15,792

 

 

$

440,100

 

 

$

14,397

 

 

$

838,614

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

176

 

 

$

—

 

 

$

—

 

 

$

176

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

51,666

 

 

$

91,616

 

 

$

225,043

 

 

$

15,616

 

 

$

440,100

 

 

$

14,397

 

 

$

838,438

 

 

 

Three Months Ended December 31, 2024

 

 

Owner
Occupied
Commercial
Real Estate

 

 

Other
Commercial
Real Estate

 

 

Multi-
Family

 

 

Commercial
and
Industrial

 

 

Residential
Mortgage

 

 

Consumer
and Other

 

 

Total

 

 

 

(In thousands)

 

Allowance for Credit
   Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

789

 

 

$

198

 

 

$

1,889

 

 

$

139

 

 

$

1,839

 

 

$

221

 

 

$

5,075

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Recoveries

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provisions (credits)

 

 

(39

)

 

 

(2

)

 

 

14

 

 

 

(7

)

 

 

37

 

 

 

9

 

 

 

12

 

Ending balance

 

$

750

 

 

$

196

 

 

$

1,903

 

 

$

132

 

 

$

1,876

 

 

$

230

 

 

$

5,087

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

750

 

 

$

196

 

 

$

1,903

 

 

$

132

 

 

$

1,876

 

 

$

230

 

 

$

5,087

 

Loans Receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

56,658

 

 

$

72,388

 

 

$

211,531

 

 

$

11,484

 

 

$

414,403

 

 

$

12,219

 

 

$

778,683

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

56,658

 

 

$

72,388

 

 

$

211,531

 

 

$

11,484

 

 

$

414,403

 

 

$

12,219

 

 

$

778,683

 

 

 

 

Six Months Ended December 31, 2025

 

 

Owner
Occupied
Commercial
Real Estate

 

 

Other
Commercial
Real Estate

 

 

Multi-
Family

 

 

Commercial
and
Industrial

 

 

Residential
Mortgage

 

 

Consumer
and Other

 

 

Total

 

 

 

(In thousands)

 

Allowance for Credit
   Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

675

 

 

$

179

 

 

$

1,830

 

 

$

135

 

 

$

2,308

 

 

$

235

 

 

$

5,362

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Recoveries

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provisions (credits)

 

 

(46

)

 

 

55

 

 

 

78

 

 

 

40

 

 

 

70

 

 

 

24

 

 

 

221

 

Ending balance

 

$

629

 

 

$

234

 

 

$

1,908

 

 

$

175

 

 

$

2,377

 

 

$

259

 

 

$

5,582

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

629

 

 

$

234

 

 

$

1,908

 

 

$

175

 

 

$

2,377

 

 

$

259

 

 

$

5,582

 

Loans Receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

51,666

 

 

$

91,616

 

 

$

225,043

 

 

$

15,792

 

 

$

440,100

 

 

$

14,397

 

 

$

838,614

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

176

 

 

$

—

 

 

$

—

 

 

$

176

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

51,666

 

 

$

91,616

 

 

$

225,043

 

 

$

15,616

 

 

$

440,100

 

 

$

14,397

 

 

$

838,438

 

 

 

 

Six Months Ended December 31, 2024

 

 

Owner
Occupied
Commercial
Real Estate

 

 

Other
Commercial
Real Estate

 

 

Multi-
Family

 

 

Commercial
and
Industrial

 

 

Residential
Mortgage

 

 

Consumer
and Other

 

 

Total

 

 

 

(In thousands)

 

Allowance for Credit
   Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

1,331

 

 

$

502

 

 

$

1,998

 

 

$

146

 

 

$

1,175

 

 

$

77

 

 

$

5,229

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Recoveries

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Provisions (credits)

 

 

(581

)

 

 

(306

)

 

 

(95

)

 

 

(14

)

 

 

701

 

 

 

153

 

 

 

(142

)

Ending balance

 

$

750

 

 

$

196

 

 

$

1,903

 

 

$

132

 

 

$

1,876

 

 

$

230

 

 

$

5,087

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

750

 

 

$

196

 

 

$

1,903

 

 

$

132

 

 

$

1,876

 

 

$

230

 

 

$

5,087

 

Loans Receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

56,658

 

 

$

72,388

 

 

$

211,531

 

 

$

11,484

 

 

$

414,403

 

 

$

12,219

 

 

$

778,683

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated
   for impairment

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Ending balance,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Collectively evaluated
   for impairment

 

$

56,658

 

 

$

72,388

 

 

$

211,531

 

 

$

11,484

 

 

$

414,403

 

 

$

12,219

 

 

$

778,683

 

 
Summary of Classes of Loan Portfolio

The following table presents the credit risk profile of loans by class and fiscal year of origination as of December 31, 2025 and June 30, 2025:

 

 

December 31, 2025

 

 

2026

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

Prior

 

 

Revolving

 

 

Total

 

 

 

(In thousands)

 

Owner Occupied Commercial
   Real Estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

797

 

 

$

—

 

 

$

6,950

 

 

$

4,984

 

 

$

7,736

 

 

$

31,199

 

 

$

—

 

 

$

51,666

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Owner Occupied Commercial
   Real Estate

 

$

797

 

 

$

—

 

 

$

6,950

 

 

$

4,984

 

 

$

7,736

 

 

$

31,199

 

 

$

—

 

 

$

51,666

 

Other Commercial Real Estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

22,620

 

 

$

6,411

 

 

$

1,350

 

 

$

3,487

 

 

$

902

 

 

$

56,846

 

 

$

—

 

 

$

91,616

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Other Commercial Real Estate

 

$

22,620

 

 

$

6,411

 

 

$

1,350

 

 

$

3,487

 

 

$

902

 

 

$

56,846

 

 

$

—

 

 

$

91,616

 

Multi-Family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

11,074

 

 

$

53,047

 

 

$

28,400

 

 

$

25,616

 

 

$

22,153

 

 

$

84,753

 

 

$

—

 

 

$

225,043

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Multi-Family

 

$

11,074

 

 

$

53,047

 

 

$

28,400

 

 

$

25,616

 

 

$

22,153

 

 

$

84,753

 

 

$

—

 

 

$

225,043

 

Commercial and Industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

5,442

 

 

$

1,374

 

 

$

833

 

 

$

3,075

 

 

$

1,282

 

 

$

3,610

 

 

$

—

 

 

$

15,616

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

176

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

176

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Commercial and Industrial

 

$

5,442

 

 

$

1,374

 

 

$

833

 

 

$

3,251

 

 

$

1,282

 

 

$

3,610

 

 

$

—

 

 

$

15,792

 

Residential Mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

36,204

 

 

$

68,523

 

 

$

58,479

 

 

$

49,202

 

 

$

69,514

 

 

$

158,178

 

 

$

—

 

 

$

440,100

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Residential Mortgage

 

$

36,204

 

 

$

68,523

 

 

$

58,479

 

 

$

49,202

 

 

$

69,514

 

 

$

158,178

 

 

$

—

 

 

$

440,100

 

Consumer and Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

783

 

 

$

767

 

 

$

1,078

 

 

$

333

 

 

$

60

 

 

$

469

 

 

$

10,907

 

 

$

14,397

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Consumer and Other

 

$

783

 

 

$

767

 

 

$

1,078

 

 

$

333

 

 

$

60

 

 

$

469

 

 

$

10,907

 

 

$

14,397

 

Total Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

76,920

 

 

$

130,122

 

 

$

97,090

 

 

$

86,697

 

 

$

101,647

 

 

$

335,055

 

 

$

10,907

 

 

$

838,438

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

176

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

176

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Loans

 

$

76,920

 

 

$

130,122

 

 

$

97,090

 

 

$

86,873

 

 

$

101,647

 

 

$

335,055

 

 

$

10,907

 

 

$

838,614

 

Gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

June 30, 2025

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Revolving

 

 

Total

 

 

 

(In thousands)

 

Owner Occupied Commercial
   Real Estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

$

7,013

 

 

$

6,761

 

 

$

7,897

 

 

$

5,335

 

 

$

28,121

 

 

$

—

 

 

$

55,127

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Owner Occupied Commercial
   Real Estate

 

$

—

 

 

$

7,013

 

 

$

6,761

 

 

$

7,897

 

 

$

5,335

 

 

$

28,121

 

 

$

—

 

 

$

55,127

 

Other Commercial Real Estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

6,451

 

 

$

1,360

 

 

$

3,523

 

 

$

917

 

 

$

1,695

 

 

$

58,596

 

 

$

—

 

 

$

72,542

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Other Commercial Real Estate

 

$

6,451

 

 

$

1,360

 

 

$

3,523

 

 

$

917

 

 

$

1,695

 

 

$

58,596

 

 

$

—

 

 

$

72,542

 

Multi-Family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

49,898

 

 

$

28,582

 

 

$

28,305

 

 

$

22,424

 

 

$

13,092

 

 

$

77,633

 

 

$

—

 

 

$

219,934

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Multi-Family

 

$

49,898

 

 

$

28,582

 

 

$

28,305

 

 

$

22,424

 

 

$

13,092

 

 

$

77,633

 

 

$

—

 

 

$

219,934

 

Commercial and Industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

1,388

 

 

$

883

 

 

$

4,178

 

 

$

2,404

 

 

$

52

 

 

$

3,348

 

 

$

—

 

 

$

12,253

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Commercial and Industrial

 

$

1,388

 

 

$

883

 

 

$

4,178

 

 

$

2,404

 

 

$

52

 

 

$

3,348

 

 

$

—

 

 

$

12,253

 

Residential Mortgage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

73,256

 

 

$

61,827

 

 

$

50,561

 

 

$

72,372

 

 

$

66,725

 

 

$

102,604

 

 

$

—

 

 

$

427,345

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Residential Mortgage

 

$

73,256

 

 

$

61,827

 

 

$

50,561

 

 

$

72,372

 

 

$

66,725

 

 

$

102,604

 

 

$

—

 

 

$

427,345

 

Consumer and Other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

1,313

 

 

$

1,231

 

 

$

357

 

 

$

730

 

 

$

1,116

 

 

$

1,638

 

 

$

6,653

 

 

$

13,038

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Consumer and Other

 

$

1,313

 

 

$

1,231

 

 

$

357

 

 

$

730

 

 

$

1,116

 

 

$

1,638

 

 

$

6,653

 

 

$

13,038

 

Total Loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

132,306

 

 

$

100,896

 

 

$

93,685

 

 

$

106,744

 

 

$

88,015

 

 

$

271,940

 

 

$

6,653

 

 

$

800,239

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Loans

 

$

132,306

 

 

$

100,896

 

 

$

93,685

 

 

$

106,744

 

 

$

88,015

 

 

$

271,940

 

 

$

6,653

 

 

$

800,239

 

Gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 
Summary of Loans by Past Due Status

The following tables present the classes of loans summarized by past due status as of December 31, 2025 and June 30, 2025:

 

 

December 31, 2025

 

 

 

Delinquency Status

 

 

30-59 Days
Past Due

 

 

60-89 Days
Past Due

 

 

90 Days or
More Past
Due and
Still
Accruing
Past Due

 

 

Non-
Accrual

 

 

Total
Past
Due

 

 

Total
Current

 

 

Total

 

 

 

(In thousands)

 

Owner occupied commercial
   real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

51,666

 

 

$

51,666

 

Other commercial real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

91,616

 

 

 

91,616

 

Multi-family

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

225,043

 

 

 

225,043

 

Commercial and industrial

 

 

—

 

 

 

—

 

 

 

—

 

 

 

176

 

 

 

—

 

 

 

15,616

 

 

 

15,792

 

Residential mortgage

 

 

1,830

 

 

 

102

 

 

 

—

 

 

 

—

 

 

 

1,932

 

 

 

438,168

 

 

 

440,100

 

Consumer and other

 

 

128

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

128

 

 

 

14,269

 

 

 

14,397

 

Total

 

$

1,958

 

 

$

102

 

 

$

—

 

 

$

176

 

 

$

2,060

 

 

$

836,378

 

 

$

838,614

 

 

 

June 30, 2025

 

 

 

Delinquency Status

 

 

30-59 Days
Past Due

 

 

60-89 Days
Past Due

 

 

90 Days or
More Past
Due and
Still
Accruing
Past Due

 

 

Non-
Accrual

 

 

Total
Past
Due

 

 

Total
Current

 

 

Total

 

 

 

(In thousands)

 

Owner occupied commercial
   real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

55,127

 

 

$

55,127

 

Other commercial real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

72,542

 

 

 

72,542

 

Multi-family

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

219,934

 

 

 

219,934

 

Commercial and industrial

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

12,253

 

 

 

12,253

 

Residential mortgage

 

 

1,467

 

 

 

478

 

 

 

—

 

 

 

—

 

 

 

1,945

 

 

 

425,400

 

 

 

427,345

 

Consumer and other

 

 

67

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

67

 

 

 

12,971

 

 

 

13,038

 

Total

 

$

1,534

 

 

$

478

 

 

$

—

 

 

$

—

 

 

$

2,012

 

 

$

798,227

 

 

$

800,239

 
v3.25.4
Premises and Equipment (Tables)
 6 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Summary of Premises and Equipment

Premises and equipment at December 31, 2025 and June 30, 2025 are summarized as follows:

 

 

December 31, 2025

 

 

June 30, 2025

 

 

(In thousands)

 

Land

 

$

926

 

 

$

926

 

Buildings and leasehold improvements

 

 

9,058

 

 

 

9,024

 

Furniture, fixtures and equipment

 

 

6,659

 

 

 

6,123

 

Total

 

 

16,643

 

 

 

16,073

 

Accumulated depreciation

 

 

(11,604

)

 

 

(11,131

)

Net

 

$

5,039

 

 

$

4,942

 

 
v3.25.4
Leases (Tables)
 6 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Other Information Related to Operating Leases The operating lease agreements recognized on the Consolidated Statements of Financial Condition as a right-of-use asset and a corresponding lease liability, as well as other information related to the Company's operating leases, are summarized in the table below.

 

 

 

Three Months Ended December 31,

 

 

Six Months Ended December 31,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

(In thousands)

 

 

(In thousands)

 

Operating lease cost

 

$

219

 

 

$

216

 

 

$

438

 

 

$

455

 

Cash paid for amounts included in the
   measurement of lease liabilities

 

$

213

 

 

$

218

 

 

$

425

 

 

$

451

 

 

 

 

December 31, 2025

 

 

June 30, 2025

 

 

(In thousands)

 

Right-of-use asset

 

$

2,743

 

 

$

3,156

 

Lease liability

 

$

2,785

 

 

$

3,211

 

Weighted-average remaining lease term, in years

 

 

3.82

 

 

 

4.23

 

Weighted-average discount rate

 

 

1.50

%

 

 

1.50

%
Schedule of Future Undiscounted Minimum Leases Payment for Operating Leases

Future undiscounted minimum lease payments for operating leases with initial terms of one year or more as of December 31, 2025 are as follows:

 

December 31, 2025

 

(Dollars in
thousands)

 

2026

 

$

406

 

2027

 

 

797

 

2028

 

 

695

 

2029

 

 

643

 

2030

 

 

262

 

Thereafter

 

 

62

 

Total future minimum lease payments

 

 

2,865

 

Less: imputed interest

 

 

(80

)

Total

 

$

2,785

 
v3.25.4
Goodwill and Intangible Assets (Tables)
 6 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Goodwill and Intangible Assets

The changes in the carrying amount of goodwill and core deposit intangibles for the six months ended December 31, 2025 and 2024 are summarized as follows:

 

 

 

Six Months Ended December 31,

 

 

 

2025

 

 

2024

 

 

 

(In thousands)

 

Balance at beginning of period

 

$

26,708

 

 

$

28,141

 

Amortization expense

 

 

(614

)

 

 

(753

)

Balance at end of period

 

$

26,094

 

 

$

27,388

 

 

Goodwill and intangible assets at December 31, 2025 and June 30, 2025:

 

 

 

December 31, 2025

 

 

June 30, 2025

 

 

 

(In thousands)

 

Goodwill

 

$

20,417

 

 

$

20,417

 

Core deposit intangibles, net of amortization

 

 

5,677

 

 

 

6,291

 

Goodwill and intangible assets

 

$

26,094

 

 

$

26,708

 
Schedule of Amortization of the Core Deposit Intangibles

As of December 31, 2025, the amortization of the core deposit intangibles in future fiscal years is as follows:

 

 

 

Amount

 

 

 

(In thousands)

 

2026

 

$

554

 

2027

 

 

951

 

2028

 

 

774

 

2029

 

 

657

 

2030

 

 

650

 

Thereafter

 

 

2,091

 

Total

 

$

5,677

 
v3.25.4
Deposits (Tables)
 6 Months Ended
Dec. 31, 2025
Deposits Liabilities Disclosure [Abstract]  
Schedule of Deposits

Deposits at December 31, 2025 and June 30, 2025 consisted of the following:

 

 

December 31, 2025

 

 

June 30, 2025

 

 

(In thousands)

 

Demand accounts:

 

 

 

 

 

 

Interest-bearing

 

$

352,366

 

 

$

319,829

 

Noninterest-bearing

 

 

121,715

 

 

 

114,107

 

Total demand accounts

 

 

474,081

 

 

 

433,936

 

Savings and club

 

 

130,139

 

 

 

143,881

 

Certificates of deposit

 

 

287,320

 

 

 

268,205

 

Total

 

$

891,540

 

 

$

846,022

 
Scheduled Maturities of Certificates of Deposit

At December 31, 2025, the scheduled maturities of certificates of deposit are as follows:

 

 

 

(In thousands)

 

Year ending December 31, 2026

 

$

244,646

 

Year ending December 31, 2027

 

 

38,339

 

Year ending December 31, 2028

 

 

2,873

 

Year ending December 31, 2029

 

 

682

 

Year ending December 31, 2030

 

 

780

 

Total

 

$

287,320

 
v3.25.4
Stock- Based Compensation (Tables)
 6 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Compensation Expense and Benefit Arrangements Activities

The Company has several compensation and benefit arrangements involving shares of the Company’s stock. Stock-based compensation expense involves the following components for the three and six month periods ended December 31, 2025, and 2024:

 

 

 

Three Months Ended December 31,

 

Six Months Ended December 31,

 

 

 

2025

 

 

2024

 

2025

 

2024

 

 

 

(In thousands)

 

 

(In thousands)

 

(In thousands)

 

(In thousands)

 

Fair value of 9,508 and 19,016 shares earned
   by ESOP participants

 

$

146

 

 

 

108

 

 

284

 

 

202

 

Stock options

 

 

176

 

 

17

 

352

 

17

 

Restricted stock awards

 

 

183

 

 

 

17

 

 

366

 

 

17

 

Total stock-based compensation expense

 

$

505

 

 

$

142

 

$

1,002

 

$

236

 
Summary of the Information regarding Grants

The following table sets forth information regarding options granted December 17, 2025:

 

Date of grant

 

December 17, 2025

 

Options granted

 

 

58,805

 

Exercise Price

 

$

16.55

 

Vesting period (years)

 

 

5.00

 

Expiration date

 

December 17, 2035

 

Expected Volatility(1)

 

 

28.70

%

Expected term (years)(2)

 

 

6.50

 

Expected dividend yield(3)

 

 

1.44

%

Forfeiture rate

 

 

0.00

%

Risk free rate of return(4)

 

 

3.91

%

Fair value per option

 

$

5.18

 
Schedule of the Stock Option Activities

The following table represents stock option activities for the six months ended December 31, 2025, and 2024, respectively:

 

 

 

Six Months Ended December 31, 2025

 

 

Shares

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining
Contractual
Term (years)

 

 

Aggregate
Intrinsic Value

 

 

(In thousands)

 

Balance at beginning of period

 

 

760,593

 

 

$

12.03

 

 

 

—

 

 

$

—

 

Granted

 

 

58,805

 

 

 

16.55

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Forfeited or expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance at end of period

 

 

819,398

 

 

$

12.36

 

 

 

9.09

 

 

$

2,819

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at end of period

 

 

47,540

 

 

$

11.04

 

 

 

8.90

 

 

$

223

 

 

 

 

Six Months Ended December 31, 2024

 

 

Shares

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining
Contractual
Term (years)

 

 

Aggregate
Intrinsic Value

 

 

(In thousands)

 

Balance at beginning of period

 

 

—

 

 

$

—

 

 

 

—

 

 

$

—

 

Granted

 

 

237,695

 

 

 

11.04

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Forfeited or expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance at end of period

 

 

237,695

 

 

$

11.04

 

 

 

9.89

 

 

$

207

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at end of period

 

 

—

 

 

$

—

 

 

 

—

 

 

$

—

 
Schedule of the Restricted Stock Award Activities

The following table represents information regarding restricted stock award activities for the six months ended December 31, 2025, and 2024, respectively:

 

 

Six Months Ended
December 31, 2025

 

 

Six Months Ended
December 31, 2024

 

 

Number
of Shares

 

 

Weighted-
Average Grant
Date Fair Value
Per Share

 

 

Number
of Shares

 

 

Weighted-
Average Grant
Date Fair Value
Per Share

 

Balance at beginning of period-non-vested

 

 

304,231

 

 

$

12.03

 

 

 

—

 

 

$

—

 

Granted

 

 

23,522

 

 

 

16.55

 

 

 

95,075

 

 

 

11.04

 

Vested

 

 

(19,015

)

 

 

11.04

 

 

 

—

 

 

 

—

 

Forfeited or expired

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Balance at end of period-non-vested

 

 

308,738

 

 

$

12.44

 

 

 

95,075

 

 

$

11.04

 
Summary of Total Compensation Cost Related to Non-Vested Awards Not Yet Recognized and the Weighted Average Period

The following table sets forth the total compensation cost related to non-vested awards not yet recognized and the weighted average period (in years) over which it is expected to be recognized as of December 31, 2025:

 

 

Amount

 

 

Weighted
Average
Period (years)

 

 

(In thousands)

 

Stock options

 

$

3,149

 

 

 

4.12

 

Restricted stock awards

 

 

3,344

 

 

 

4.14

 

Total

 

$

6,493

 

 

 

 
v3.25.4
Regulatory Capital (Tables)
 6 Months Ended
Dec. 31, 2025
Banking and Thrift, Other Disclosure [Abstract]  
Schedule of Bank's Actual Capital Amounts and Ratios The Bank's actual capital amounts and ratios are as follows:

 

 

 

Actual

 

 

To be Well Capitalized
under Prompt Corrective
Action Provisions

 

 

Amount

 

 

Ratio

 

 

Amount

 

 

Ratio

 

 

(In thousands)

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 capital (to average total assets)

 

$

159,779

 

 

 

14.85

%

 

$

96,827

 

 

 

9.00

%

June 30, 2025:

 

 

 

 

 

 

 

 

 

 

 

 

Tier 1 capital (to average total assets)

 

$

162,261

 

 

 

15.51

%

 

$

94,167

 

 

 

9.00

%
v3.25.4
Fair Value Measurements and Disclosures (Tables)
 6 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets Measured at Fair Value on A Recurring Basis

For financial assets measured at fair value on a recurring basis as of December 31, 2025 and June 30, 2025, the fair value measurements by level within the fair value hierarchy used are as follows:

 

 

December 31, 2025

 

Description

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

Total

 

 

 

(In thousands)

 

Equity securities

 

 

33

 

 

 

—

 

 

 

—

 

 

 

33

 

Total

 

$

33

 

 

$

—

 

 

$

—

 

 

$

33

 

 

 

June 30, 2025

 

Description

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

Total

 

 

 

(In thousands)

 

Equity securities

 

 

37

 

 

 

—

 

 

 

—

 

 

 

37

 

Total

 

$

37

 

 

$

—

 

 

$

—

 

 

$

37

 
Schedule of financial assets measured at fair value on a nonrecurring basis

For financial assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at December 31, 2025 and June 30, 2025 were as follows:

 

 

December 31, 2025

 

Description

 

Carrying Value

 

 

Fair Value

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

 

(In thousands)

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

81,842

 

 

$

81,842

 

 

$

81,842

 

 

$

—

 

 

$

—

 

Securities held-to-maturity, at amortized cost

 

 

140,805

 

 

 

123,019

 

 

 

—

 

 

 

123,019

 

 

 

—

 

Restricted equity securities, at cost

 

 

3,508

 

 

 

3,508

 

 

 

—

 

 

 

3,508

 

 

 

—

 

Loans receivable, net

 

 

835,367

 

 

 

823,823

 

 

 

—

 

 

 

—

 

 

 

823,823

 

Accrued interest receivable

 

 

3,201

 

 

 

3,201

 

 

 

—

 

 

 

3,201

 

 

 

—

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

891,540

 

 

 

802,833

 

 

 

516,282

 

 

 

286,551

 

 

 

—

 

Borrowings

 

 

50,000

 

 

 

50,070

 

 

 

50,070

 

 

 

—

 

 

 

—

 

 

 

June 30, 2025

 

Description

 

Carrying Value

 

 

Fair Value

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

 

(In thousands)

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

57,779

 

 

$

57,779

 

 

$

57,779

 

 

$

—

 

 

$

—

 

Securities held-to-maturity, at amortized cost

 

 

141,845

 

 

 

120,195

 

 

 

—

 

 

 

120,195

 

 

 

—

 

Restricted equity securities, at cost

 

 

2,608

 

 

 

2,608

 

 

 

—

 

 

 

2,608

 

 

 

—

 

Loans receivable, net

 

 

797,166

 

 

 

770,473

 

 

 

—

 

 

 

—

 

 

 

770,473

 

Accrued interest receivable

 

 

3,072

 

 

 

3,072

 

 

 

—

 

 

 

3,072

 

 

 

—

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

846,022

 

 

 

764,094

 

 

 

—

 

 

 

764,094

 

 

 

—

 

Borrowings

 

 

30,000

 

 

 

30,000

 

 

 

30,000

 

 

 

—

 

 

 

—

 
v3.25.4
Summary of Significant Accounting Policies - Additional Information (Details)
 6 Months Ended
Dec. 31, 2025
Location
Summary of Significant Accounting Policies [Line Items]  
Number of full service branch locations 14
Segment reporting, CODM, profit (loss) measure,description The Company’s CEO is the chief operating decision maker who uses consolidated net income to assess performance and profitability of our single business segment.
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration] srt:ChiefExecutiveOfficerMember
ASU 2023-07  
Summary of Significant Accounting Policies [Line Items]  
Change in accounting principle, accounting standards update, adopted [true false] true
Change in accounting principle, accounting standards update, adoption date Jun. 30, 2025
Change in accounting principle, accounting standards update, immaterial effect [true false] false
ASU 2024-01  
Summary of Significant Accounting Policies [Line Items]  
Change in accounting principle, accounting standards update, adopted [true false] true
Change in accounting principle, accounting standards update, adoption date Jul. 01, 2025
Change in accounting principle, accounting standards update, immaterial effect [true false] false
ASU 2024-02  
Summary of Significant Accounting Policies [Line Items]  
Change in accounting principle, accounting standards update, adopted [true false] true
Change in accounting principle, accounting standards update, adoption date Jul. 01, 2025
Change in accounting principle, accounting standards update, immaterial effect [true false] false
v3.25.4
Earnings Per Share - Additional Information (Details)
 6 Months Ended
Dec. 31, 2025
shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]  
Antidilutive securities 605,225
v3.25.4
Earnings Per Share - Schedule of Weighted Average Common Shares used in Earnings per share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Net income $ 834 $ 1,021 $ 1,527 $ 2,388
Weighted average number of common shares outstanding 8,534,724 9,319,791 8,672,493 9,411,676
Less: Average unallocated ESOP shares (651,293) (689,325) (656,047) (694,079)
Less: Average unvested restricted stock awards (299,543) (42,370) (301,887) (21,185)
Weighted average common shares outstanding used to calculate basic earnings per common share 7,583,888 8,588,096 7,714,559 8,696,412
Add: Dilutive effect of common stock equivalents 110,681 2,885 95,953 1,442
Weighted average common shares outstanding used to calculate diluted earnings per common share 7,694,569 8,590,981 7,810,512 8,697,854
Basic income per common share $ 0.11 $ 0.12 $ 0.2 $ 0.27
Diluted income per common share $ 0.11 $ 0.12 $ 0.2 $ 0.27
v3.25.4
Investment Securities - Summary of Securities Held-to-Maturity (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Schedule of Held-to-Maturity Securities [Line Items]    
Amortized Cost $ 140,805 $ 141,845
Gross Unrealized Gains 9 4
Gross Unrealized Losses (17,795) (21,654)
Fair Value 123,019 120,195
CMO    
Schedule of Held-to-Maturity Securities [Line Items]    
Amortized Cost 1,811 2,011
Gross Unrealized Losses (82) (121)
Fair Value 1,729 1,890
Subordinated Debt    
Schedule of Held-to-Maturity Securities [Line Items]    
Amortized Cost 13,750 7,750
Gross Unrealized Losses (339) (609)
Fair Value 13,411 7,141
Federal National Mortgage Association    
Schedule of Held-to-Maturity Securities [Line Items]    
Amortized Cost 82,396 86,657
Gross Unrealized Gains 4 2
Gross Unrealized Losses (11,958) (14,436)
Fair Value 70,442 72,223
Federal Home Loan Mortgage Corporation    
Schedule of Held-to-Maturity Securities [Line Items]    
Amortized Cost 42,452 45,009
Gross Unrealized Gains 2 1
Gross Unrealized Losses (5,416) (6,488)
Fair Value 37,038 38,522
Government National Mortgage Association    
Schedule of Held-to-Maturity Securities [Line Items]    
Amortized Cost 196 218
Gross Unrealized Gains 3 1
Fair Value 199 219
Foreign Government Bonds    
Schedule of Held-to-Maturity Securities [Line Items]    
Amortized Cost 200 200
Fair Value $ 200 $ 200
v3.25.4
Investment Securities - Contractual final maturitrities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Amortized Cost    
Due within 1 year $ 200  
Due after 5 but within 10 years 13,750  
Mortgage-backed securities 126,855  
Total 140,805  
Fair Value    
Due within 1 year 200  
Due after 5 but within 10 years 13,411  
Mortgage-backed securities 109,408  
Total $ 123,019 $ 120,195
v3.25.4
Investment Securities - Additional Information (Details)
 3 Months Ended 6 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
Note
Dec. 31, 2024
USD ($)
Jun. 30, 2025
USD ($)
Schedule of Held-to-Maturity Securities [Line Items]          
Savings bank $ 33,000   $ 33,000   $ 37,000
Held-to-maturity securities 140,805,000   140,805,000   141,845,000
Sale of security held to maturity 0 $ 0 0 $ 0  
Securities available-for-sale 0   0   0
Sale of securities available-for-sale 0 0 0 0  
Purchase of available-for-sale securities 0 $ 0 0 $ 0  
Past Due 30 Days or More          
Schedule of Held-to-Maturity Securities [Line Items]          
Held-to-maturity securities 0   $ 0   0
Subordinated Note          
Schedule of Held-to-Maturity Securities [Line Items]          
Number of investment grade subordinated notes issued by the bank | Note     3    
Held-to-maturity securities $ 13,750,000   $ 13,750,000   7,750,000
Interest rate 7.75%   7.75%    
Debt Instrument Purchase $ 6,000,000   $ 6,000,000    
Secure Public Funds          
Schedule of Held-to-Maturity Securities [Line Items]          
Mortgage-backed security $ 1,600,000   1,600,000   $ 1,700,000
Mortgage-backed Securities of U.S. Government and Government-sponsored Agencies          
Schedule of Held-to-Maturity Securities [Line Items]          
Expected credit loss     $ 0    
v3.25.4
Investment Securities - Summary of Unrealized and Realized Gains and Losses Recognized in Net Income on Equity Securities (Details) - USD ($)
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Debt Securities, Held-to-Maturity, Maturity [Abstract]        
Net (loss) gains recognized on equity securities $ (1,000) $ 3,000 $ (4,000) $ 5,000
Less: Net gain recognized on equity securities sold/acquired 0 0 0 0
Net unrealized (loss) gains recognized on equity securities $ (1,000) $ 3,000 $ (4,000) $ 5,000
v3.25.4
Loans Receivable - Summary of Loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans $ 838,614   $ 800,239 $ 778,683    
Allowance for credit losses (5,582) $ (5,533) (5,362) (5,087) $ (5,075) $ (5,229)
Deferred loan costs, net 2,335   2,289      
Loans receivable, net 835,367   797,166      
Owner Occupied Commercial Real Estate Loans            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans 51,666   55,127 56,658    
Allowance for credit losses (629) (637) (675) (750) (789) (1,331)
Other Commercial Real Estate Loans            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans 91,616   72,542      
Multi-Family Loans            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans 225,043   219,934 211,531    
Allowance for credit losses (1,908) $ (1,857) (1,830) $ (1,903) $ (1,889) $ (1,998)
Commercial and Industrial Loans            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans 15,792   12,253      
Total Commercial Loans            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans 384,117   359,856      
Residential Mortgage Loans            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans 440,100   427,345      
Consumer and Other Loans            
Accounts, Notes, Loans and Financing Receivable [Line Items]            
Total loans $ 14,397   $ 13,038      
v3.25.4
Loans Receivable - Additional Information (Details)
 6 Months Ended
Dec. 31, 2025
USD ($)
Loan
Jun. 30, 2025
USD ($)
Loan
Financing Receivable, Allowance for Credit Loss [Line Items]    
Minimum percentage required for loan grant for residential mortgage loan to value ratio 80.00%  
Foreclosed real estate owned $ 0 $ 0
Number of non-accrual commercial loans | Loan   0
Loan modifications to borrowers experiencing financial difficulty $ 0 $ 0
Commercial Loans    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Minimum percentage of loan to value ratio required to keep credit risk minimal 75.00%  
Number of non-accrual commercial loans | Loan 1  
Non accrual commercial loan $ 176,000  
Commercial Loans | New Jersey    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Percentage of net loans 45.80% 45.00%
Residential Loans    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Minimum percentage of loan to value ratio required to keep credit risk minimal 80.00%  
Multifamily loans    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Minimum percentage of loan to value ratio required to keep credit risk minimal 80.00%  
Residential Mortgage, Consumer and Other Loans | New Jersey    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Percentage of net loans 54.20% 55.00%
Multi-Family, Mixed Use and Owner Occupied Loans    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Percentage of net loans 95.90% 96.60%
Commercial Real Estate | Maximum    
Financing Receivable, Allowance for Credit Loss [Line Items]    
Percentage of net loans 2.60% 1.00%
v3.25.4
Loans Receivable - Summary of Activity in Allowance for Credit Losses and Recorded Investment in Loans Receivable by Loan Class (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Jun. 30, 2025
Loans and Leases Receivable Disclosure [Line Items]          
Allowance for credit losses, Beginning balance $ 5,533 $ 5,075 $ 5,362 $ 5,229  
Allowance for credit losses, Charge-offs 0 0 0 0  
Allowance for credit losses, Recoveries 0 0 0 0  
Allowance for credit losses, Provisions (credits) 49 12 221 (142)  
Allowance for credit losses, Ending balance 5,582 5,087 5,582 5,087  
Allowance for Credit Losses:Ending balance, Individually evaluated for impairment 0 0 0 0  
Allowance for Credit Losses: Ending balance, Collectively evaluated for impairment 5,582 5,087 5,582 5,087  
Ending balance 838,614 778,683 838,614 778,683 $ 800,239
Loans receivable, Ending balance, individually evaluated for impairment 176 0 176 0  
Loans receivable, Ending balance, Collectively evaluated for impairment 838,438 778,683 838,438 778,683  
Owner Occupied Commercial Real Estate          
Loans and Leases Receivable Disclosure [Line Items]          
Allowance for credit losses, Beginning balance 637 789 675 1,331  
Allowance for credit losses, Charge-offs 0 0 0 0  
Allowance for credit losses, Recoveries 0 0 0 0  
Allowance for credit losses, Provisions (credits) (8) (39) (46) (581)  
Allowance for credit losses, Ending balance 629 750 629 750  
Allowance for Credit Losses:Ending balance, Individually evaluated for impairment 0 0 0 0  
Allowance for Credit Losses: Ending balance, Collectively evaluated for impairment 629 750 629 750  
Ending balance 51,666 56,658 51,666 56,658 55,127
Loans receivable, Ending balance, individually evaluated for impairment 0 0 0 0  
Loans receivable, Ending balance, Collectively evaluated for impairment 51,666 56,658 51,666 56,658  
Other Commercial Real Estate          
Loans and Leases Receivable Disclosure [Line Items]          
Allowance for credit losses, Beginning balance 219 198 179 502  
Allowance for credit losses, Charge-offs 0 0 0 0  
Allowance for credit losses, Recoveries 0 0 0 0  
Allowance for credit losses, Provisions (credits) 15 (2) 55 (306)  
Allowance for credit losses, Ending balance 234 196 234 196  
Allowance for Credit Losses:Ending balance, Individually evaluated for impairment 0 0 0 0  
Allowance for Credit Losses: Ending balance, Collectively evaluated for impairment 234 196 234 196  
Ending balance 91,616 72,388 91,616 72,388 72,542
Loans receivable, Ending balance, individually evaluated for impairment 0 0 0 0  
Loans receivable, Ending balance, Collectively evaluated for impairment 91,616 72,388 91,616 72,388  
Multi-Family          
Loans and Leases Receivable Disclosure [Line Items]          
Allowance for credit losses, Beginning balance 1,857 1,889 1,830 1,998  
Allowance for credit losses, Charge-offs 0 0 0 0  
Allowance for credit losses, Recoveries 0 0 0 0  
Allowance for credit losses, Provisions (credits) 51 14 78 (95)  
Allowance for credit losses, Ending balance 1,908 1,903 1,908 1,903  
Allowance for Credit Losses:Ending balance, Individually evaluated for impairment 0 0 0 0  
Allowance for Credit Losses: Ending balance, Collectively evaluated for impairment 1,908 1,903 1,908 1,903  
Ending balance 225,043 211,531 225,043 211,531 219,934
Loans receivable, Ending balance, individually evaluated for impairment 0 0 0 0  
Loans receivable, Ending balance, Collectively evaluated for impairment 225,043 211,531 225,043 211,531  
Commercial and Industrial          
Loans and Leases Receivable Disclosure [Line Items]          
Allowance for credit losses, Beginning balance 196 139 135 146  
Allowance for credit losses, Charge-offs 0 0 0 0  
Allowance for credit losses, Recoveries 0 0 0 0  
Allowance for credit losses, Provisions (credits) (21) (7) 40 (14)  
Allowance for credit losses, Ending balance 175 132 175 132  
Allowance for Credit Losses:Ending balance, Individually evaluated for impairment 0 0 0 0  
Allowance for Credit Losses: Ending balance, Collectively evaluated for impairment 175 132 175 132  
Ending balance 15,792 11,484 15,792 11,484 12,253
Loans receivable, Ending balance, individually evaluated for impairment 176 0 176 0  
Loans receivable, Ending balance, Collectively evaluated for impairment 15,616 11,484 15,616 11,484  
Residential Mortgage          
Loans and Leases Receivable Disclosure [Line Items]          
Allowance for credit losses, Beginning balance 2,376 1,839 2,308 1,175  
Allowance for credit losses, Charge-offs 0 0 0 0  
Allowance for credit losses, Recoveries 0 0 0 0  
Allowance for credit losses, Provisions (credits) 1 37 70 701  
Allowance for credit losses, Ending balance 2,377 1,876 2,377 1,876  
Allowance for Credit Losses:Ending balance, Individually evaluated for impairment 0 0 0 0  
Allowance for Credit Losses: Ending balance, Collectively evaluated for impairment 2,377 1,876 2,377 1,876  
Ending balance 440,100 414,403 440,100 414,403 427,345
Loans receivable, Ending balance, individually evaluated for impairment 0 0 0 0  
Loans receivable, Ending balance, Collectively evaluated for impairment 440,100 414,403 440,100 414,403  
Consumer and Other          
Loans and Leases Receivable Disclosure [Line Items]          
Allowance for credit losses, Beginning balance 248 221 235 77  
Allowance for credit losses, Charge-offs 0 0 0 0  
Allowance for credit losses, Recoveries 0 0 0 0  
Allowance for credit losses, Provisions (credits) 11 9 24 153  
Allowance for credit losses, Ending balance 259 230 259 230  
Allowance for Credit Losses:Ending balance, Individually evaluated for impairment 0 0 0 0  
Allowance for Credit Losses: Ending balance, Collectively evaluated for impairment 259 230 259 230  
Ending balance 14,397 12,219 14,397 12,219 $ 13,038
Loans receivable, Ending balance, individually evaluated for impairment 0 0 0 0  
Loans receivable, Ending balance, Collectively evaluated for impairment $ 14,397 $ 12,219 $ 14,397 $ 12,219  
v3.25.4
Loans Receivable - Summary of Classes of Loan Portfolio (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Dec. 31, 2024
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 $ 76,920 $ 132,306  
2025 130,122 100,896  
2024 97,090 93,685  
2023 86,873 106,744  
2022 101,647 88,015  
Prior 335,055 271,940  
Revolving 10,907 6,653  
Total 838,614 800,239 $ 778,683
Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 76,920 132,306  
2025 130,122 100,896  
2024 97,090 93,685  
2023 86,697 106,744  
2022 101,647 88,015  
Prior 335,055 271,940  
Revolving 10,907 6,653  
Total 838,438 800,239  
Special Mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 176 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 176 0  
Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Loss      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Gross Charge-offs      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Owner Occupied Commercial Real Estate      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 797 0  
2025 0 7,013  
2024 6,950 6,761  
2023 4,984 7,897  
2022 7,736 5,335  
Prior 31,199 28,121  
Revolving 0 0  
Total 51,666 55,127 56,658
Owner Occupied Commercial Real Estate | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 797 0  
2025 0 7,013  
2024 6,950 6,761  
2023 4,984 7,897  
2022 7,736 5,335  
Prior 31,199 28,121  
Revolving 0 0  
Total 51,666 55,127  
Owner Occupied Commercial Real Estate | Special Mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Owner Occupied Commercial Real Estate | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Owner Occupied Commercial Real Estate | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Owner Occupied Commercial Real Estate | Loss      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Other Commercial Real Estate      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 22,620 6,451  
2025 6,411 1,360  
2024 1,350 3,523  
2023 3,487 917  
2022 902 1,695  
Prior 56,846 58,596  
Revolving 0 0  
Total 91,616 72,542 72,388
Other Commercial Real Estate | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 22,620 6,451  
2025 6,411 1,360  
2024 1,350 3,523  
2023 3,487 917  
2022 902 1,695  
Prior 56,846 58,596  
Revolving 0 0  
Total 91,616 72,542  
Other Commercial Real Estate | Special Mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Other Commercial Real Estate | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Other Commercial Real Estate | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Other Commercial Real Estate | Loss      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Multi-Family      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 11,074 49,898  
2025 53,047 28,582  
2024 28,400 28,305  
2023 25,616 22,424  
2022 22,153 13,092  
Prior 84,753 77,633  
Revolving 0 0  
Total 225,043 219,934 211,531
Multi-Family | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 11,074 49,898  
2025 53,047 28,582  
2024 28,400 28,305  
2023 25,616 22,424  
2022 22,153 13,092  
Prior 84,753 77,633  
Revolving 0 0  
Total 225,043 219,934  
Multi-Family | Special Mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Multi-Family | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Multi-Family | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Multi-Family | Loss      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial and Industrial      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 5,442 1,388  
2025 1,374 883  
2024 833 4,178  
2023 3,251 2,404  
2022 1,282 52  
Prior 3,610 3,348  
Revolving 0 0  
Total 15,792 12,253 11,484
Commercial and Industrial | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 5,442 1,388  
2025 1,374 883  
2024 833 4,178  
2023 3,075 2,404  
2022 1,282 52  
Prior 3,610 3,348  
Revolving 0 0  
Total 15,616 12,253  
Commercial and Industrial | Special Mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 176 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 176 0  
Commercial and Industrial | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial and Industrial | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Commercial and Industrial | Loss      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Residential Mortgage      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 36,204 73,256  
2025 68,523 61,827  
2024 58,479 50,561  
2023 49,202 72,372  
2022 69,514 66,725  
Prior 158,178 102,604  
Revolving 0 0  
Total 440,100 427,345 414,403
Residential Mortgage | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 36,204 73,256  
2025 68,523 61,827  
2024 58,479 50,561  
2023 49,202 72,372  
2022 69,514 66,725  
Prior 158,178 102,604  
Revolving 0 0  
Total 440,100 427,345  
Residential Mortgage | Special Mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Residential Mortgage | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Residential Mortgage | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Residential Mortgage | Loss      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Consumer and Other      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 783 1,313  
2025 767 1,231  
2024 1,078 357  
2023 333 730  
2022 60 1,116  
Prior 469 1,638  
Revolving 10,907 6,653  
Total 14,397 13,038 $ 12,219
Consumer and Other | Pass      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 783 1,313  
2025 767 1,231  
2024 1,078 357  
2023 333 730  
2022 60 1,116  
Prior 469 1,638  
Revolving 10,907 6,653  
Total 14,397 13,038  
Consumer and Other | Special Mention      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Consumer and Other | Substandard      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Consumer and Other | Doubtful      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total 0 0  
Consumer and Other | Loss      
Financing Receivable, Credit Quality Indicator [Line Items]      
2026 0 0  
2025 0 0  
2024 0 0  
2023 0 0  
2022 0 0  
Prior 0 0  
Revolving 0 0  
Total $ 0 $ 0  
v3.25.4
Loans Receivable - Summary of Loans by Past Due Status (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Dec. 31, 2024
Financing Receivable, Impaired [Line Items]      
Total Loans $ 838,614 $ 800,239 $ 778,683
Current      
Financing Receivable, Impaired [Line Items]      
Total Loans 836,378 798,227  
30-59 Days Past Due      
Financing Receivable, Impaired [Line Items]      
Total Loans 1,958 1,534  
60-89 Days Past Due      
Financing Receivable, Impaired [Line Items]      
Total Loans 102 478  
Non Accrual      
Financing Receivable, Impaired [Line Items]      
Total Loans 176    
Total Past Due      
Financing Receivable, Impaired [Line Items]      
Total Loans 2,060 2,012  
Owner Occupied Commercial Real Estate      
Financing Receivable, Impaired [Line Items]      
Total Loans 51,666 55,127 56,658
Owner Occupied Commercial Real Estate | Current      
Financing Receivable, Impaired [Line Items]      
Total Loans 51,666 55,127  
Other Commercial Real Estate      
Financing Receivable, Impaired [Line Items]      
Total Loans 91,616 72,542 72,388
Other Commercial Real Estate | Current      
Financing Receivable, Impaired [Line Items]      
Total Loans 91,616 72,542  
Multi-Family      
Financing Receivable, Impaired [Line Items]      
Total Loans 225,043 219,934 211,531
Multi-Family | Current      
Financing Receivable, Impaired [Line Items]      
Total Loans 225,043 219,934  
Commercial and Industrial      
Financing Receivable, Impaired [Line Items]      
Total Loans 15,792 12,253 11,484
Commercial and Industrial | Current      
Financing Receivable, Impaired [Line Items]      
Total Loans 15,616 12,253  
Commercial and Industrial | Non Accrual      
Financing Receivable, Impaired [Line Items]      
Total Loans 176    
Residential Mortgage      
Financing Receivable, Impaired [Line Items]      
Total Loans 440,100 427,345 414,403
Residential Mortgage | Current      
Financing Receivable, Impaired [Line Items]      
Total Loans 438,168 425,400  
Residential Mortgage | 30-59 Days Past Due      
Financing Receivable, Impaired [Line Items]      
Total Loans 1,830 1,467  
Residential Mortgage | 60-89 Days Past Due      
Financing Receivable, Impaired [Line Items]      
Total Loans 102 478  
Residential Mortgage | Total Past Due      
Financing Receivable, Impaired [Line Items]      
Total Loans 1,932 1,945  
Consumer and Other      
Financing Receivable, Impaired [Line Items]      
Total Loans 14,397 13,038 $ 12,219
Consumer and Other | Current      
Financing Receivable, Impaired [Line Items]      
Total Loans 14,269 12,971  
Consumer and Other | 30-59 Days Past Due      
Financing Receivable, Impaired [Line Items]      
Total Loans 128 67  
Consumer and Other | Total Past Due      
Financing Receivable, Impaired [Line Items]      
Total Loans $ 128 $ 67  
v3.25.4
Premises and Equipment - Summary of Premises and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Property, Plant and Equipment [Line Items]    
Gross $ 16,643 $ 16,073
Accumulated depreciation (11,604) (11,131)
Net 5,039 4,942
Land    
Property, Plant and Equipment [Line Items]    
Gross 926 926
Buildings and leasehold improvements    
Property, Plant and Equipment [Line Items]    
Gross 9,058 9,024
Furniture, fixtures and equipment    
Property, Plant and Equipment [Line Items]    
Gross $ 6,659 $ 6,123
v3.25.4
Premises and Equipment - Additional Information (Details) - USD ($)
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Property, Plant and Equipment [Abstract]    
Depreciation expense $ 473,000 $ 502,000
v3.25.4
Leases - Additional Information (Details)
Dec. 31, 2025
Maximum [Member]  
Lessee, Lease, Description [Line Items]  
Operating lease terms 10 years
Minimum [Member]  
Lessee, Lease, Description [Line Items]  
Operating lease terms 5 years
v3.25.4
Leases - Schedule of Other Information Related to Operating Leases (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Jun. 30, 2025
Leases [Abstract]          
Operating lease cost $ 219 $ 216 $ 438 $ 455  
Cash paid for amounts included in the measurement of lease liabilities 213 $ 218 425 $ 451  
Right of use asset 2,743   2,743   $ 3,156
Lease liability $ 2,785   $ 2,785   $ 3,211
Weighted-average remaining lease term, in years 3 years 9 months 25 days   3 years 9 months 25 days   4 years 2 months 23 days
Weighted-average discount rate 1.50%   1.50%   1.50%
v3.25.4
Leases - Schedule of Future Undiscounted Minimum Leases Payment for Operating Leases (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Leases [Abstract]    
2026 $ 406  
2027 797  
2028 695  
2029 643  
2030 262  
Thereafter 62  
Total future minimum lease payments 2,865  
Less: imputed interest (80)  
Total $ 2,785 $ 3,211
v3.25.4
Goodwill and Intangible Assets - Additional Information (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Finite-Lived Intangible Assets [Line Items]    
Goodwill $ 20,417 $ 20,417
Regal Bancorp Inc    
Finite-Lived Intangible Assets [Line Items]    
Goodwill 20,400  
Core Deposit Intangibles | Regal Bancorp Inc    
Finite-Lived Intangible Assets [Line Items]    
Intangibles, net of accumulated amortization $ 5,700  
Estimated useful life 10 years  
v3.25.4
Goodwill and Intangible Assets - Summary of Goodwill and Core Deposit Intangibles (Details) - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Balance at beginning of period $ 26,708 $ 28,141
Amortization expense (614) (753)
Balance at end of period 26,094 27,388
Core Deposit Intangibles    
Finite-Lived Intangible Assets [Line Items]    
Amortization expense $ (614) $ (753)
v3.25.4
Goodwill and Intangible Assets - Summary of Goodwill and Intangible Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Dec. 31, 2024
Jun. 30, 2024
Finite-Lived Intangible Assets [Line Items]        
Goodwill $ 20,417 $ 20,417    
Goodwill and Intangible assets 26,094 26,708 $ 27,388 $ 28,141
Core Deposit Intangibles        
Finite-Lived Intangible Assets [Line Items]        
Intangibles, assets net of amortization $ 5,677 $ 6,291    
v3.25.4
Goodwill and Intangible Assets - Schedule of Amortization of the Core Deposit Intangibles (Details) - Core Deposit Intangibles - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Finite-Lived Intangible Assets [Line Items]    
2026 $ 554  
2027 951  
2028 774  
2029 657  
2030 650  
Thereafter 2,091  
Total $ 5,677 $ 6,291
v3.25.4
Deposits - Schedule of Deposits (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Demand accounts:    
Interest-bearing $ 352,366 $ 319,829
Noninterest-bearing 121,715 114,107
Total demand accounts 474,081 433,936
Savings and club 130,139 143,881
Certificates of deposit 287,320 268,205
Total deposits $ 891,540 $ 846,022
v3.25.4
Deposits - Additional Information (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Jun. 30, 2025
Deposits Liabilities Disclosure [Abstract]    
Uninsured deposits in excess of $2,50,000 $ 172.6 $ 145.3
Deposits in excess of $2,50,000 72.1 58.9
Uninsured deposits $ 30.3 $ 31.8
v3.25.4
Deposits - Scheduled Maturities of Certificates of Deposit (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Maturities of Time Deposits [Abstract]    
Year ending December 31, 2026 $ 244,646  
Year ending December 31, 2027 38,339  
Year ending December 31, 2028 2,873  
Year ending December 31, 2029 682  
Year ending December 31, 2030 780  
Total $ 287,320 $ 268,205
v3.25.4
Borrowings - Additional Information (Details) - USD ($)
 6 Months Ended 12 Months Ended
Dec. 31, 2025
Jun. 30, 2025
Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items]    
Borrowings $ 50,000,000 $ 30,000,000
Federal Home Loan Bank of New York (FHLB-NY)    
Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items]    
Maximum borrowing capacity at FHLB 100,000,000 100,000,000
Borrowings from Federal Home Loan Bank   $ 30,000,000
Borrowing interest rate   4.42%
Maturity date   Jul. 07, 2025
Federal Home Loan Bank of New York (FHLB-NY) | Fixed Rates 3.67%    
Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items]    
Borrowings from Federal Home Loan Bank $ 35,000,000  
Borrowing interest rate 3.67%  
Maturity date Sep. 08, 2027  
Federal Home Loan Bank of New York (FHLB-NY) | Fixed Rates 4.03%    
Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items]    
Borrowings from Federal Home Loan Bank $ 15,000,000  
Borrowing interest rate 4.03%  
Maturity date Feb. 17, 2026  
Federal Reserve Bank of New York (FRB-NY)    
Federal Home Loan Bank, Advance, Branch of FHLBank [Line Items]    
Authorized borrowings $ 25,000,000 $ 25,000,000
Borrowings $ 0 $ 0
v3.25.4
Commitments and Contingencies - Additional Information (Details) - USD ($)
 6 Months Ended 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Jun. 30, 2025
Loss Contingencies [Line Items]      
Unfunded loan related commitments $ 68,400,000   $ 79,000,000
Unfunded loan related commitments expiration period 3 months   3 months
Liability for credit losses for unfunded commitments $ 44,000   $ 42,000
Unfunded commitments expense 7,000 $ 37,000  
Unused Equity Lines of Credit      
Loss Contingencies [Line Items]      
Unfunded loan related commitments 43,300,000   38,000,000
Originate and Purchase Loans      
Loss Contingencies [Line Items]      
Unfunded loan related commitments $ 25,100,000   $ 41,000,000
v3.25.4
Stock- Based Compensation - Summary of Compensation Expense and Benefit Arrangements Activities (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Stock-based compensation expense $ 505 $ 142 $ 1,002 $ 236
Employee Stock Ownership Plan        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Stock-based compensation expense 146 108 284 202
Employee Stock Option        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Stock-based compensation expense 176 17 352 17
Restricted Stock Awards        
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]        
Stock-based compensation expense $ 183 $ 17 $ 366 $ 17
v3.25.4
Stock-Based Compensation - Summary of Compensation Expense and Benefit Arrangements Activities (Parenthetical) (Details) - shares
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]        
Fair value of shares earned by ESOP participants 9,508 9,508 19,016 19,016
v3.25.4
Stock- Based Compensation - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 17, 2025
Feb. 05, 2025
Jan. 29, 2025
Nov. 21, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Nov. 20, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Stock-based compensation expense         $ 505 $ 142 $ 1,002 $ 236  
2024 Equity Plan | Common Stock                  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Number of shares authorized                 1,331,110
Shares available for future grants         183,959   183,959    
Employee Stock Option                  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Stock-based compensation expense         $ 176 17 $ 352 $ 17  
Employee Stock Option | 2024 Equity Plan                  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Options granted 58,805           58,805 237,695  
Vesting period (years) 5 years                
Employee Stock Option | 2024 Equity Plan | Officer                  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Options granted     465,889            
Contractual term     10 years            
Vesting period (years)     5 years            
Employee Stock Option | 2024 Equity Plan | Employees                  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Options granted   57,009              
Contractual term   10 years              
Vesting period (years)   5 years              
Employee Stock Option | 2024 Equity Plan | Executive Officers                  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Options granted 58,805                
Contractual term 10 years                
Vesting period (years) 5 years                
Employee Stock Option | 2024 Equity Plan | Non-Employee                  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Options granted       237,695          
Contractual term       10 years          
Vesting period (years)       5 years          
Restricted Stock Awards                  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Stock-based compensation expense         $ 183 $ 17 $ 366 $ 17  
Restricted Stock Awards | 2024 Equity Plan                  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Restricted stock awards, granted             23,522 95,075  
Restricted Stock Awards | 2024 Equity Plan | Officer                  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Options granted     186,356            
Vesting period (years)     5 years            
Restricted Stock Awards | 2024 Equity Plan | Employees                  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Options granted   22,800              
Vesting period (years)   5 years              
Restricted Stock Awards | 2024 Equity Plan | Non-Employee                  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]                  
Options granted       95,075          
Vesting period (years)       5 years          
v3.25.4
Stock-Based Compensation - Summary of the Information regarding Grants (Details) - Employee Stock Option - 2024 Equity Plan - $ / shares
 6 Months Ended
Dec. 17, 2025
Dec. 31, 2025
Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Date of grant Dec. 17, 2025    
Options granted 58,805 58,805 237,695
Exercise Price $ 16.55 $ 11.04  
Vesting period (years) 5 years    
Expiration date Dec. 17, 2035    
Expected Volatility 28.70%    
Expected term (years) 6 years 6 months    
Expected dividend yield 1.44%    
Forfeiture rate 0.00%    
Risk free rate of return 3.91%    
Fair value per option $ 5.18    
v3.25.4
Stock- Based Compensation - Schedule of the Stock Option Activities (Details) - Employee Stock Option - 2024 Equity Plan - USD ($)
$ / shares in Units, $ in Thousands
 6 Months Ended
Dec. 17, 2025
Dec. 31, 2025
Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]      
Shares, Balance at beginning of period   760,593  
Shares, Granted 58,805 58,805 237,695
Shares, Balance at end of period   819,398 237,695
Shares, Exercisable   47,540  
Weighted-Average Exercise Price, Balance at beginning of period   $ 12.03  
Weighted-Average Exercise Price, Granted   16.55 $ 11.04
Weighted-Average Exercise Price, Balance at end of period   12.36 $ 11.04
Weighted-Average Exercise Price, Exercisable $ 16.55 $ 11.04  
Weighted-Average Remaining Contractual Term (years)   9 years 1 month 2 days 9 years 10 months 20 days
Weighted-Average Remaining Contractual Term (years), Exercisable   8 years 10 months 24 days  
Aggregate Intrinsic Value   $ 2,819 $ 207
Aggregate Intrinsic Value, Exercisable   $ 223  
v3.25.4
Stock- Based Compensation - Schedule of the Restricted Stock Award Activities (Details) - Restricted Stock Awards - 2024 Equity Plan - $ / shares
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]    
Number of Shares, Balance at beginning of period-non-vested 304,231  
Number of Shares, Granted 23,522 95,075
Number of Shares, Vested (19,015)  
Number of Shares, Balance at end of period-non-vested 308,738 95,075
Weighted-Average Exercise Price, Balance at beginning of period-non-vested $ 12.03  
Weighted-Average Exercise Price, Granted 16.55 $ 11.04
Weighted-Average Exercise Price, Vested 11.04  
Weighted-Average Exercise Price, Balance at end of period-non-vested $ 12.44 $ 11.04
v3.25.4
Stock- Based Compensation - Summary of Total Compensation Cost Related to Non-Vested Awards Not Yet Recognized and the Weighted Average Period (Details) - 2024 Equity Plan
$ in Thousands
 6 Months Ended
Dec. 31, 2025
USD ($)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Amount $ 6,493
Employee Stock Option  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Amount $ 3,149
Weighted Average Period (years) 4 years 1 month 13 days
Restricted Stock Awards  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Amount $ 3,344
Weighted Average Period (years) 4 years 1 month 20 days
v3.25.4
Regulatory Capital - Additional Information (Details)
Dec. 31, 2025
Jun. 30, 2025
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Percentage of capital conservation buffer 2.50%  
Leverage ratio 0.09 0.09
Minimum    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Leverage ratio 0.09  
v3.25.4
Regulatory Capital - Schedule of Bank's Actual Capital Amounts and Ratios (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Jun. 30, 2025
USD ($)
Banking and Thrift, Other Disclosure [Abstract]    
Tier 1 capital (to average total assets), Actual amount $ 159,779 $ 162,261
Tier 1 capital (to average total assets), Actual ratio 0.1485 0.1551
Tier 1 capital (to average total assets), To be Well Capitalized under Prompt Corrective Action Provisions Amount $ 96,827 $ 94,167
Tier 1 capital (to average total assets), To be Well Capitalized under Prompt Corrective Action Provisions Ratio 0.09 0.09
v3.25.4
Fair Value Measurements and Disclosures - Schedule of Financial Assets Measured At Fair Value On A Recurring Basis (Details) - Recurring Basis - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total $ 33 $ 37
Equity Securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total 33 37
Level 1    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total 33 37
Level 1 | Equity Securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total $ 33 $ 37
v3.25.4
Fair Value Measurements and Disclosures - Additional Information (Details) - USD ($)
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Jun. 30, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Transfers between levels within the fair value hierarchy $ 0 $ 0  
Non-Recurring Basis      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Asset Fair Value $ 0   $ 0
v3.25.4
Fair Value Measurements and Disclosures - Schedule of financial assets measured at fair value on a nonrecurring basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Borrowings $ 50,000 $ 30,000
Estimate of Fair Value Measurement [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and cash equivalents 81,842 57,779
Securities held-to-maturity, at amortized cost 123,019 120,195
Restricted equity securities, at cost 3,508 2,608
Loans receivable, net 823,823 770,473
Accrued interest receivable 3,201 3,072
Deposits 802,833 764,094
Borrowings 50,070 30,000
Estimate of Fair Value Measurement [Member] | Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and cash equivalents 81,842 57,779
Deposits 516,282  
Borrowings 50,070 30,000
Estimate of Fair Value Measurement [Member] | Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Securities held-to-maturity, at amortized cost 123,019 120,195
Restricted equity securities, at cost 3,508 2,608
Accrued interest receivable 3,201 3,072
Deposits 286,551 764,094
Borrowings 0 0
Estimate of Fair Value Measurement [Member] | Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans receivable, net 823,823 770,473
Carrying Value [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash and cash equivalents 81,842 57,779
Securities held-to-maturity, at amortized cost 140,805 141,845
Restricted equity securities, at cost 3,508 2,608
Loans receivable, net 835,367 797,166
Accrued interest receivable 3,201 3,072
Deposits 891,540 846,022
Borrowings $ 50,000 $ 30,000