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Derivative and Other Financial Instruments with Off-Balance Sheet Risks (Tables)
 12 Months Ended
Jun. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Undisbursed Funds Commitments
The following table provides information at the dates indicated regarding undisbursed funds to borrowers on existing lines of credit with the Corporation as well as commitments to originate loans to be held for investment at the dates indicated below:

Commitments
June 30,
2014
June 30,
2013
(Dollars In Thousands)
 
 
Undisbursed loan funds – Construction loans
$
1,090

$
292

Undisbursed lines of credit – Mortgage loans
616

774

Undisbursed lines of credit – Commercial business loans
1,222

952

Undisbursed lines of credit – Consumer loans
774

779

Commitments to extend credit on loans to be held for investment
2,247

6,872

Total
$
5,949

$
9,669
Schedule of Allowance for Loan Losses of Undisbursed Funds and Commitments on Loans Held for Investment
The following table provides information regarding the allowance for loan losses for the undisbursed funds and commitments to extend credit on loans to be held for investment for the years ended June 30, 2014 and 2013:

 
For the Year Ended
June 30,
(In Thousands)
2014
2013
Balance, beginning of the year
$
115

$
66

(Recovery) provision
(54
)
49

Balance, end of the year
$
61

$
115
Schedule of Impact of Derivative Financial Instruments on Gain on Sale of Loans
The net impact of derivative financial instruments on the gain on sale of loans contained in the Consolidated Statements of Operations for the years ended June 30, 2014, 2013 and 2012 was as follows:

(In Thousands)
For the Year Ended June 30,
Derivative Financial Instruments
2014
2013
2012
 
 
 
 
Commitments to extend credit on loans to be held for sale
$
3,598

$
(5,013
)
$
3,343

Mandatory loan sale commitments and TBA MBS trades
(8,233
)
8,121

(1,895
)
Option contracts
(18
)
214

(360
)
Total net (loss) gain
$
(4,653
)
$
3,322

$
1,088
Schedule of Outstanding Derivative Instruments
The outstanding derivative financial instruments at the dates indicated were as follows:

(In Thousands)
June 30, 2014
 
June 30, 2013
Derivative Financial Instruments
Amount
Fair
Value
 
Amount
Fair
Value
 
 
 
 
 
 
Commitments to extend credit on loans to be held for sale (1)
$
132,567

$
2,566

 
$
255,635

$
(1,032
)
Best efforts loan sale commitments
(18,069
)
—

 
(29,847
)
—

Mandatory loan sale commitments and TBA MBS trades
(258,021
)
(1,428
)
 
(410,897
)
6,805

Option contracts
(10,000
)
—

 
(10,000
)
589

Total
$
(153,523
)
$
1,138

 
$
(195,109
)
$
6,362


(1) 
Net of 28.0% percent at June 30, 2014 and 23.6% percent at June 30, 2013 of commitments, which management has estimated may not fund.