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Securities Available For Sale
 6 Months Ended
Dec. 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:
 
December 31, 2016
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
U.S. Government Agencies
$
72,885

 
$
221

 
$
(419
)
 
$
72,687

Residential Mortgage-backed Securities of U.S. Government
 

 
 

 
 

 
 

Agencies and Government-Sponsored Enterprises
82,420

 
283

 
(421
)
 
82,282

Municipal Bonds
17,953

 
431

 
(59
)
 
18,325

Corporate Bonds
7,719

 
100

 
(127
)
 
7,692

Equity Securities
63

 
—

 
—

 
63

Total
$
181,040

 
$
1,035

 
$
(1,026
)
 
$
181,049

 
June 30, 2016
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair
Value
U.S. Government Agencies
$
77,356

 
$
624

 
$
—

 
$
77,980

Residential Mortgage-backed Securities of U.S. Government
 

 
 

 
 

 
 

Agencies and Government-Sponsored Enterprises
95,668

 
1,824

 
(84
)
 
97,408

Municipal Bonds
16,242

 
992

 
—

 
17,234

Corporate Bonds
7,773

 
194

 
—

 
7,967

Equity Securities
63

 
—

 
—

 
63

Total
$
197,102

 
$
3,634

 
$
(84
)
 
$
200,652


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.
 
December 31, 2016
 
Amortized
Cost
 
Estimated
Fair Value
Due within one year
$
903

 
$
904

Due after one year through five years
75,809

 
75,663

Due after five years through ten years
18,013

 
18,276

Due after ten years
3,832

 
3,861

Mortgage-backed securities
82,420

 
82,282

Total
$
180,977

 
$
180,986


The Company had no sales of securities available for sale during the three and six months ended December 31, 2016 and 2015.
Securities available for sale with costs totaling $135,556 and $151,359 with market values of $135,733 and $154,132 at December 31, 2016 and June 30, 2016, 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 December 31, 2016 and June 30, 2016 were as follows:
 
December 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
$
48,047

 
$
(419
)
 
$
—

 
$
—

 
$
48,047

 
$
(419
)
Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises
44,958

 
(358
)
 
4,156

 
(63
)
 
49,114

 
(421
)
Municipal Bonds
5,042

 
(59
)
 
—

 
—

 
5,042

 
(59
)
Corporate Bonds
—

 
—

 
3,738

 
(127
)
 
3,738

 
(127
)
Total
$
98,047

 
$
(836
)
 
$
7,894

 
$
(190
)
 
$
105,941

 
$
(1,026
)
 
June 30, 2016
 
Less than 12 Months
 
12 Months or More
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises
$
1,970

 
$
(20
)
 
$
6,040

 
$
(64
)
 
$
8,010

 
$
(84
)
Total
$
1,970

 
$
(20
)
 
$
6,040

 
$
(64
)
 
$
8,010

 
$
(84
)

The total number of securities with unrealized losses at December 31, 2016, and June 30, 2016 were 131 and 44, 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 six months ended December 31, 2016 or the year ended June 30, 2016.
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.