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Derivative and Other Financial Instruments with Off-Balance Sheet Risks (Tables) | 6 Months Ended
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Dec. 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 | December 31, 2014 | June 30, 2014
(In Thousands) |  |
Undisbursed loan funds - Construction loans | $ | 2,281 |  | $ | 1,090 |
Undisbursed lines of credit – Mortgage loans | 497 |  | 616 |
Undisbursed lines of credit – Commercial business loans | 843 |  | 1,222 |
Undisbursed lines of credit – Consumer loans | 708 |  | 774 |
Commitments to extend credit on loans to be held for investment | 4,692 |  | 2,247 |
Total | $ | 9,021 |  | $ | 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 and six months ended December 31, 2014 and 2013.
| For the Quarters Ended December 31, | For the Six Months Ended December 31,
(In Thousands) | 2014 | 2013 | 2014 | 2013
Balance, beginning of the period | $ | 108 |  | $ | 89 |  | $ | 61 |  | $ | 115 |
(Recovery) provision | (27 | ) | 36 |  | 20 |  | 10 |
Balance, end of the period | $ | 81 |  | $ | 125 |  | $ | 81 |  | $ | 125 |
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 six months ended December 31, 2014 and 2013 was as follows:
| For the Quarters Ended December 31, |  | For the Six Months Ended December 31,
Derivative Financial Instruments | 2014 | 2013 |  | 2014 | 2013
(In Thousands) |  |  |  |  |
Commitments to extend credit on loans to be held for sale | $ | 344 |  | $ | (3,117 | ) |  | $ | (437 | ) | $ | 1,280 |
Mandatory loan sale commitments and TBA MBS trades | (1,614 | ) | 5,424 |  |  | (677 | ) | (5,824 | )
Option contracts | (57 | ) | 158 |  |  | (162 | ) | 266 |
Total net (loss) gain | $ | (1,327 | ) | $ | 2,465 |  |  | $ | (1,276 | ) | $ | (4,278 | )
Schedule of Outstanding Derivative Instruments | The outstanding derivative financial instruments at the dates indicated were as follows:
| December 31, 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) | $ | 121,575 |  | $ | 2,129 |  |  | $ | 132,567 |  | $ | 2,566 |
Best efforts loan sale commitments | (31,484 | ) | — |  |  | (18,069 | ) | — |
Mandatory loan sale commitments and TBA MBS trades | (290,785 | ) | (2,105 | ) |  | (258,021 | ) | (1,428 | )
Put option contracts | (10,000 | ) | 44 |  |  | (10,000 | ) | — |
Call option contracts | 10,000 |  | 66 |  |  | — |  | — |
Total | $ | (200,694 | ) | $ | 134 |  |  | $ | (153,523 | ) | $ | 1,138 |
(1) | Net of 29.3 percent at December 31, 2014 and 28.0 percent at June 30, 2014 of commitments which management has estimated may not fund.

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5618551-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=35706170&loc=SL5624171-113959 + Details
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