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Investment Securities | 12 Months Ended
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Jun. 30, 2014
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Investment Securities The amortized cost and estimated fair value of investment securities as of June 30, 2014 and 2013 were as follows:
June 30, 2014 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | Carrying Value
(In Thousands) |  |  |  |  |
Held to maturity |  |  |  |  |
Certificate of deposits | $ | 800 |  | $ | — |  | $ | — |  | $ | 800 |  | $ | 800 |
Total investment securities - held to maturity | $ | 800 |  | $ | — |  | $ | — |  | $ | 800 |  | $ | 800 |
Available for sale |  |  |  |  |
U.S. government agency MBS | $ | 8,772 |  | $ | 337 |  | $ | — |  | $ | 9,109 |  | $ | 9,109 |
U.S. government sponsored enterprise MBS | 6,128 |  | 257 |  | — |  | 6,385 |  | 6,385 |
Private issue CMO (1) | 841 |  | 12 |  | — |  | 853 |  | 853 |
Total investment securities - available for sale | $ | 15,741 |  | $ | 606 |  | $ | — |  | $ | 16,347 |  | $ | 16,347 |
Total investment securities | $ | 16,541 |  | $ | 606 |  | $ | — |  | $ | 17,147 |  | $ | 17,147 |
(1) | 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 fiscal 2014, 2013 and 2012, the Corporation received MBS principal payments of $2.9 million, $3.3 million and $3.3 million, respectively, and did not purchase or sell investment securities, other than in fiscal 2014 when the Corporation placed an $800,000 investment in time deposits at four minority-owned financial institutions to help fulfill the Company’s Community Reinvestment Act obligation. As of June 30, 2014, the Corporation held investments with no unrealized loss position. This compares to June 30, 2013 when the Corporation held investment with unrealized loss position of $18,000, consisting of the following:
As of June 30, 2013 | Unrealized Holding Losses |  | Unrealized Holding Losses |  | Unrealized Holding Losses
(In Thousands) | Less Than 12 Months |  | 12 Months or More |  | Total
| Fair | Unrealized |  | Fair | Unrealized |  | Fair | Unrealized
Description of Securities | Value | Losses |  | Value | Losses |  | Value | Losses
Private issue CMO | $ | 848 |  | $ | 18 |  |  | $ | — |  | $ | — |  |  | $ | 848 |  | $ | 18 |
Total | $ | 848 |  | $ | 18 |  |  | $ | — |  | $ | — |  |  | $ | 848 |  | $ | 18 |
As of June 30, 2013, the unrealized holding loss was less than 12 months on one adjustable rate private issue CMO, primarily the result of market interest rate movement and perceived credit and liquidity concerns. Based on the nature of the investment, management concluded that such unrealized loss was not other than temporary as of June 30, 2013. The Corporation does not believe that there are any other-than-temporary impairments at June 30, 2014 and 2013; and no impairment losses have been recorded for fiscal 2014, 2013 and 2012. The Corporation intends and has the ability to hold the CMO securities until maturity and will not likely be required to sell the CMO security before realizing a full recovery. Contractual maturities of investment securities as of June 30, 2014 and 2013 were as follows:
| June 30, 2014 |  | June 30, 2013
(In Thousands) | Amortized Cost | Estimated Fair Value |  | Amortized Cost | Estimated Fair Value
Held to maturity |  |  |  |  |
Due in one year or less | $ | 800 |  | $ | 800 |  |  | $ | — |  | $ | — |
Due after one through five years | — |  | — |  |  | — |  | — |
Due after five through ten years | — |  | — |  |  | — |  | — |
Due after ten years | — |  | — |  |  | — |  | — |
Total investment securities - held to maturity | $ | 800 |  | $ | 800 |  |  | $ | — |  | $ | — |
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 | 15,741 |  | 16,347 |  |  | 18,652 |  | 19,510 |
Total investment securities - available for sale | $ | 15,741 |  | $ | 16,347 |  |  | $ | 18,652 |  | $ | 19,510 |
Total investment securities | $ | 16,541 |  | $ | 17,147 |  |  | $ | 18,652 |  | $ | 19,510 |

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