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Investment Securities | 3 Months Ended
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Sep. 30, 2013
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Investment Securities The amortized cost and estimated fair value of investment securities as of September 30, 2013 and June 30, 2013 were as follows:
September 30, 2013 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | Carrying Value
(In Thousands) |  |  |  |  |
Available for sale |  |  |  |  |
U.S. government agency MBS (1) | $ | 9,845 |  | $ | 396 |  | $ | — |  | $ | 10,241 |  | $ | 10,241 |
U.S. government sponsored enterprise MBS | 7,001 |  | 369 |  | — |  | 7,370 |  | 7,370 |
Private issue CMO (2) | 986 |  | — |  | (33 | ) | 953 |  | 953 |
Total investment securities | $ | 17,832 |  | $ | 765 |  | $ | (33 | ) | $ | 18,564 |  | $ | 18,564 |
(1) | Mortgage-Backed Securities (“MBS”).
(2) | Collateralized Mortgage Obligations (“CMO”).
June 30, 2013 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | Carrying Value
(In Thousands) |  |  |  |  |
Available for sale |  |  |  |  |
U.S. government agency MBS | $ | 10,361 |  | $ | 455 |  | $ | — |  | $ | 10,816 |  | $ | 10,816 |
U.S. government sponsored enterprise MBS | 7,255 |  | 420 |  | — |  | 7,675 |  | 7,675 |
Private issue CMO | 1,036 |  | 1 |  | (18 | ) | 1,019 |  | 1,019 |
Total investment securities | $ | 18,652 |  | $ | 876 |  | $ | (18 | ) | $ | 19,510 |  | $ | 19,510 |
In the first quarters of fiscal 2014 and 2013, the Corporation received MBS principal payments of $820,000 and $762,000, respectively, and did not purchase or sell investment securities. The Corporation evaluates individual investment securities quarterly for other-than-temporary declines in market value. As of September 30, 2013, the gross unrealized holding losses relate to two adjustable rate private issue CMOs, where one has been in an unrealized loss position for more than 12 months and the other has been in an unrealized loss position for less than 12 months. This compares to June 30, 2013 when the gross unrealized holding losses relate to one adjustable rate private issue CMOs, which has been in an unrealized loss position for more than 12 months. The unrealized holding losses were primarily the result of perceived credit and liquidity concerns related to these CMOs. Based on the nature of the investments, management concluded that such unrealized losses were not other than temporary as of September 30, 2013 and June 30, 2013. The Corporation does not believe that there are any other-than-temporary impairments at September 30, 2013 and 2012; therefore, no impairment losses have been recorded for the quarters ended September 30, 2013 and 2012. The Corporation intends and has the ability to hold these CMOs until maturity and will not likely be required to sell the CMOs before realizing a full recovery. Contractual maturities of investment securities as of September 30, 2013 and June 30, 2013 were as follows:
| September 30, 2013 |  | June 30, 2013
(In Thousands) | Amortized Cost | Estimated Fair Value |  | Amortized Cost | Estimated Fair Value
Available for sale |  |  |  |  |
Due in one year or less | $ | — |  | $ | — |  |  | $ | — |  | $ | — |
Due after one through five years | — |  | — |  |  | — |  | — |
Due after five through ten years | — |  | — |  |  | — |  | — |
Due after ten years | 17,832 |  | 18,564 |  |  | 18,652 |  | 19,510 |
Total investment securities | $ | 17,832 |  | $ | 18,564 |  |  | $ | 18,652 |  | $ | 19,510 |

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 3, 19, 20, 21, 22, 137 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 + Details
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