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Derivative and Other Financial Instruments with Off-Balance Sheet Risks (Tables)
 3 Months Ended
Sep. 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
September 30,
2014
June 30,
2014
(In Thousands)
 
 
 
 
 
Undisbursed loan funds - Construction loans
$
3,604

$
1,090

Undisbursed lines of credit – Mortgage loans
507

616

Undisbursed lines of credit – Commercial business loans
823

1,222

Undisbursed lines of credit – Consumer loans
710

774

Commitments to extend credit on loans to be held for investment
11,472

2,247

Total
$
17,116

$
5,949
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 ended September 30, 2014 and 2013.

 
For the Quarters
Ended
September 30,
(In Thousands)
2014
2013
Balance, beginning of the period
$
61

$
115

Provision (recovery)
47

(26
)
Balance, end of the period
$
108

$
89
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 ended September 30, 2014 and 2013 was as follows:

 
For the Quarters
Ended
September 30,
Derivative Financial Instruments
2014
2013
(In Thousands)
 
 
Commitments to extend credit on loans to be held for sale
$
(781
)
$
4,397

Mandatory loan sale commitments and TBA MBS trades
937

(11,248
)
Option contracts
(105
)
108

Total net gain (loss)
$
51

$
(6,743
)
Schedule of Outstanding Derivative Instruments
The outstanding derivative financial instruments at the dates indicated were as follows:

 
September 30, 2014
 
June 30, 2014
Derivative Financial Instruments
Amount
Fair
Value
 
Amount
Fair
Value
(In Thousands)
 
 
 
 
 
Commitments to extend credit on loans to be held for sale (1)
$
116,695

$
1,785

 
$
132,567

$
2,566

Best efforts loan sale commitments
(22,531
)
—

 
(18,069
)
—

Mandatory loan sale commitments and TBA MBS trades
(253,286
)
(491
)
 
(258,021
)
(1,428
)
Option contracts
(10,000
)
33

 
(10,000
)
—

Total
$
(169,122
)
$
1,327

 
$
(153,523
)
$
1,138


(1) 
Net of 27.5 percent at September 30, 2014 and 28.0 percent at June 30, 2014 of commitments which management has estimated may not fund.