Debt Securities

Securities available for sale consist of the following at the dates indicated:



	September 30, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. Government Agencies	$	14,113	$	153	$	(5	)	$	14,261
Residential MBS of U.S. Government Agencies and GSEs	72,477		757		(141		)	73,093
Municipal Bonds	23,885		495		(3		)	24,377
Corporate Bonds	53,992		47		(56		)	53,983
Total	$	164,467	$	1,452	$	(205	)	$	165,714



	June 30, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. Government Agencies	$	15,099	$	122	$	(11	)	$	15,210
Residential MBS of U.S. Government Agencies and GSEs	74,778		586		(184		)	75,180
Municipal Bonds	24,896		423		(7		)	25,312
Corporate Bonds	6,061		43		(20		)	6,084
Total	$	120,834	$	1,174	$	(222	)	$	121,786

Debt securities available for sale by contractual maturity at September 30, 2019 are shown below. MBS 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.



	September 30, 2019
	Amortized Cost		Estimated Fair Value
Due within one year	$	23,625	$	23,615
Due after one year through five years	59,316		59,616
Due after five years through ten years	5,513		5,826
Due after ten years	3,536		3,564
Mortgage-backed securities	72,477		73,093
Total	$	164,467	$	165,714

The Company had no sales of securities available for sale during the three months ended September 30, 2019 and 2018. There were no gross realized gains or losses for the three months ended September 30, 2019 and 2018.

Securities available for sale with costs totaling $93,499 and $94,337 and market values of $94,208 and $94,876 at September 30, 2019 and June 30, 2019, 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 September 30, 2019 and June 30, 2019 were as follows:



	September 30, 2019
	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	$	—	$	—		$	5,995	$	(5	)	$	5,995	$	(5	)
Residential MBS of U.S. Government Agencies and GSEs	9,771		(30		)	16,113		(111		)	25,884		(141		)
Municipal Bonds	3,706		(3		)	427		—			4,133		(3		)
Corporate Bonds	47,708		(56		)	—		—			47,708		(56		)
Total	$	61,185	$	(89	)	$	22,535	$	(116	)	$	83,720	$	(205	)



	June 30, 2019
	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	$	—	$	—		$	6,988	$	(11	)	$	6,988	$	(11	)
Residential MBS of U.S. Government Agencies and GSEs	1,144		(3		)	24,242		(181		)	25,386		(184		)
Municipal Bonds	—		—			4,895		(7		)	4,895		(7		)
Corporate Bonds	393		(5		)	3,630		(15		)	4,023		(20		)
Total	$	1,537	$	(8	)	$	39,755	$	(214	)	$	41,292	$	(222	)

The total number of securities with unrealized losses at September 30, 2019, and June 30, 2019 were 91 and 100, 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 subsequent to the purchase dates of the securities. The Company had no other-than-temporary impairment losses during the three months ended September 30, 2019.