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Securities Available For Sale
 9 Months Ended
Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Securities Available For Sale
Securities Available for Sale
Securities available for sale consist of the following at the dates indicated:
 
March 31, 2016
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
U.S. Government Agencies
$
94,409

 
$
683

 
$
(12
)
 
$
95,080

Residential Mortgage-backed Securities of U.S. Government
 

 
 

 
 

 
 

Agencies and Government-Sponsored Enterprises
101,655

 
1,429

 
(100
)
 
102,984

Municipal Bonds
16,585

 
756

 
(5
)
 
17,336

Corporate Bonds
3,872

 
166

 
(3
)
 
4,035

Equity Securities
63

 
—

 
—

 
63

Total
$
216,584

 
$
3,034

 
$
(120
)
 
$
219,498

 
June 30, 2015
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
U.S. Government Agencies
$
115,683

 
$
455

 
$
(67
)
 
$
116,071

Residential Mortgage-backed Securities of U.S. Government
 

 
 

 
 

 
 

Agencies and Government-Sponsored Enterprises
120,294

 
674

 
(159
)
 
120,809

Municipal Bonds
16,359

 
372

 
(53
)
 
16,678

Corporate Bonds
3,889

 
96

 
—

 
3,985

Equity Securities
63

 
—

 
—

 
63

Total
$
256,288

 
$
1,597

 
$
(279
)
 
$
257,606


Debt securities available for sale by contractual maturity at the dates indicated are shown below. Mortgage-backed securities are not included in the maturity categories because the borrowers in the underlying pools may prepay without penalty; therefore, it is unlikely that the securities will pay at their stated maturity schedule.
 
March 31, 2016
 
Amortized
Cost
 
Estimated
Fair Value
Due within one year
$
717

 
$
721

Due after one year through five years
73,925

 
74,390

Due after five years through ten years
36,485

 
37,387

Due after ten years
3,739

 
3,953

Mortgage-backed securities
101,655

 
102,984

Total
$
216,521

 
$
219,435


The Company had no sales of securities available for sale during the three and nine months ended March 31, 2016. The Company did not sell any securities available for sale in the three months ended March 31, 2015. Proceeds from sales of securities available for sale were $10,387 in the nine months ended March 31, 2015. Gross realized gains were $74 and gross realized losses were $13 for the nine months ended March 31, 2015.
Securities available for sale with costs totaling $164,547 and $181,404 with market values of $166,832 and $182,217 at March 31, 2016 and June 30, 2015, respectively, were pledged as collateral to secure various public deposits and other borrowings.
The gross unrealized losses and the fair value for securities available for sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2016 and June 30, 2015 were as follows:
 
March 31, 2016
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Government Agencies
$
6,974

 
$
(12
)
 
$
—

 
$
—

 
$
6,974

 
$
(12
)
Residential Mortgage-backed
 

 
 

 
 

 
 

 
 

 
 

Securities of U.S. Government
 

 
 

 
 

 
 

 
 

 
 

Agencies and Government-
 

 
 

 
 

 
 

 
 

 
 

Sponsored Enterprises
2,335

 
(9
)
 
7,609

 
(91
)
 
9,944

 
(100
)
Municipal Bonds
—

 
—

 
1,128

 
(5
)
 
1,128

 
(5
)
Corporate Bonds
394

 
(3
)
 
—

 
—

 
394

 
(3
)
Total
$
9,703

 
$
(24
)
 
$
8,737

 
$
(96
)
 
$
18,440

 
$
(120
)
 
June 30, 2015
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Government Agencies
$
35,793

 
$
(67
)
 
$
—

 
$
—

 
$
35,793

 
$
(67
)
Residential Mortgage-backed
 

 
 

 
 

 
 

 
 

 
 

Securities of U.S. Government
 

 
 

 
 

 
 

 
 

 
 

Agencies and Government-
 

 
 

 
 

 
 

 
 

 
 

Sponsored Enterprises
24,429

 
(81
)
 
5,037

 
(78
)
 
29,466

 
(159
)
Municipal Bonds
3,920

 
(53
)
 
—

 
—

 
3,920

 
(53
)
Total
$
64,142

 
$
(201
)
 
$
5,037

 
$
(78
)
 
$
69,179

 
$
(279
)

The total number of securities with unrealized losses at March 31, 2016, and June 30, 2015 were 57 and 81, respectively. Unrealized losses on securities have not been recognized in income because management has the intent and ability to hold the securities for the foreseeable future, and has determined that it is not more likely than not that the Company will be required to sell the securities prior to a recovery in value. The decline in fair value was largely due to increases in market interest rates. The Company had no other than temporary impairment losses during the three and nine months ended March 31, 2016 or the year ended June 30, 2015.
As a requirement for membership, the Bank invests in stock of the FHLB of Atlanta and the Federal Reserve Bank of Richmond ("FRB"). No ready market exists for this stock and the carrying value approximates its fair value based on the redemption provisions of the FHLB of Atlanta and the FRB.