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Derivative and Other Financial Instruments with Off-Balance Sheet Risks (Tables)
 9 Months Ended
Mar. 31, 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
March 31,
2014
June 30,
2013
(In Thousands)
 
 
 
 
 
Undisbursed loan funds - Construction loans
$
757

$
292

Undisbursed lines of credit – Mortgage loans
809

774

Undisbursed lines of credit – Commercial business loans
1,349

952

Undisbursed lines of credit – Consumer loans
772

779

Commitments to extend credit on loans to be held for investment
5,949

6,872

Total
$
9,636

$
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 quarters and nine months ended March 31, 2014 and 2013.

 
For the Quarters
Ended
March 31,
 
For the Nine Months
Ended
March 31,
(In Thousands)
2014
2013
 
2014
2013
Balance, beginning of the period
$
125

$
63

 
$
115

$
66

(Recovery) provision
(41
)
24

 
(31
)
21

Balance, end of the period
$
84

$
87

 
$
84

$
87
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 Condensed Consolidated Statements of Operations during the quarters and nine months ended March 31, 2014 and 2013 was as follows:

 
For the Quarters
Ended
March 31,
 
 For the Nine Months
Ended
March 31,
Derivative Financial Instruments
2014
2013
 
2014
2013
(In Thousands)
 
 
 
 
 
Commitments to extend credit on loans to be held for sale
$
1,026

$
181

 
$
2,306

$
(562
)
Mandatory loan sale commitments and TBA MBS trades
(824
)
(463
)
 
(6,648
)
521

Option contracts
(142
)
(51
)
 
124

(492
)
Total
$
60

$
(333
)
 
$
(4,218
)
$
(533
)
Schedule of Outstanding Derivative Instruments
The outstanding derivative financial instruments at the dates indicated were as follows:

 
March 31, 2014
 
June 30, 2013
Derivative Financial Instruments
Amount
Fair
Value
 
Amount
Fair
Value
(In Thousands)
 
 
 
 
 
Commitments to extend credit on loans to be held for sale (1)
$
107,866

$
1,274

 
$
255,635

$
(1,032
)
Best efforts loan sale commitments
(10,488
)
—

 
(29,847
)
—

Mandatory loan sale commitments and TBA MBS trades
(193,426
)
157

 
(410,897
)
6,805

Option contracts
(10,000
)
37

 
(10,000
)
589

Total
$
(106,048
)
$
1,468

 
$
(195,109
)
$
6,362


(1) 
Net of 27.7 percent at March 31, 2014 and 23.6 percent at June 30, 2013 of commitments which management has estimated may not fund.