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Investment Securities | 3 Months Ended
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Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Investment Securities The amortized cost and estimated fair value of investment securities as of September 30, 2015 and June 30, 2015 were as follows:
September 30, 2015 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | Carrying Value
(In Thousands) |  |  |  |  |
Held to maturity: |  |  |  |  |
Certificates of deposit | $ | 800 |  | $ | — |  | $ | — |  | $ | 800 |  | $ | 800 |
Total investment securities - held to maturity | $ | 800 |  | $ | — |  | $ | — |  | $ | 800 |  | $ | 800 |
Available for sale: |  |  |  |  |
U.S. government agency MBS (1) | $ | 7,305 |  | $ | 268 |  | $ | — |  | $ | 7,573 |  | $ | 7,573 |
U.S. government sponsored enterprise MBS | 4,765 |  | 281 |  | — |  | 5,046 |  | 5,046 |
Private issue CMO (2) | 683 |  | 8 |  | — |  | 691 |  | 691 |
Common stock - community development financial institution | 250 |  | — |  | (99 | ) | 151 |  | 151 |
Total investment securities - available for sale | $ | 13,003 |  | $ | 557 |  | $ | (99 | ) | $ | 13,461 |  | $ | 13,461 |
Total investment securities | $ | 13,803 |  | $ | 557 |  | $ | (99 | ) | $ | 14,261 |  | $ | 14,261 |
(1) | Mortgage-Backed Securities (“MBS”).
(2) | Collateralized Mortgage Obligations (“CMO”).
June 30, 2015 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | Carrying Value
(In Thousands) |  |  |  |  |
Held to maturity: |  |  |  |  |
Certificates of deposit | $ | 800 |  | $ | — |  | $ | — |  | $ | 800 |  | $ | 800 |
Total investment securities - held to maturity | $ | 800 |  | $ | — |  | $ | — |  | $ | 800 |  | $ | 800 |
Available for sale: |  |  |  |  |
U.S. government agency MBS | $ | 7,613 |  | $ | 293 |  | $ | — |  | $ | 7,906 |  | $ | 7,906 |
U.S. government sponsored enterprise MBS | 5,083 |  | 304 |  | — |  | 5,387 |  | 5,387 |
Private issue CMO | 708 |  | 9 |  | — |  | 717 |  | 717 |
Common stock - community development financial institution | 250 |  | — |  | (99 | ) | 151 |  | 151 |
Total investment securities - available for sale | $ | 13,654 |  | $ | 606 |  | $ | (99 | ) | $ | 14,161 |  | $ | 14,161 |
Total investment securities | $ | 14,454 |  | $ | 606 |  | $ | (99 | ) | $ | 14,961 |  | $ | 14,961 |
In the first quarters of fiscal 2016 and 2015, the Corporation received MBS principal payments of $650,000 and $780,000, respectively, and did not purchase or sell investment securities, except the purchase in the first quarter of fiscal 2015 of $250,000 in the common stock of a community development financial institution to help fulfill the Bank's Community Reinvestment Act obligation. The Corporation held investments with unrealized loss position at September 30, 2015 and June 2015 of $99,000 at both dates.
As of September 30, 2015 | 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
Common stock(1) | $ | 151 |  | $ | 99 |  |  | $ | — |  | $ | — |  |  | $ | 151 |  | $ | 99 |
Total | $ | 151 |  | $ | 99 |  |  | $ | — |  | $ | — |  |  | $ | 151 |  | $ | 99 |
As of June 30, 2015 | 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
Common stock(1) | $ | 151 |  | $ | 99 |  |  | $ | — |  | $ | — |  |  | $ | 151 |  | $ | 99 |
Total | $ | 151 |  | $ | 99 |  |  | $ | — |  | $ | — |  |  | $ | 151 |  | $ | 99 |
(1) | Common stock of a community development financial institution.
The Corporation evaluates individual investment securities quarterly for other-than-temporary declines in market value. As of September 30, 2015, the unrealized holding loss was less than 12 months on the common stock, primarily the result of the dilutive nature of the institution's recent merger with another community development financial institution. Based on the nature of the investment, management concluded that such unrealized loss was not other than temporary as of September 30, 2015. The Corporation intends and has the ability to hold the common stock and will not likely be required to sell before realizing a full recovery. The Corporation does not believe that there are any other-than-temporary impairments at September 30, 2015 and 2014; therefore, no impairment losses have been recorded for the quarters ended September 30, 2015 and 2014. Contractual maturities of investment securities as of September 30, 2015 and June 30, 2015 were as follows:
| September 30, 2015 |  | June 30, 2015
(In Thousands) | Amortized Cost | Estimated Fair Value |  | Amortized Cost | Estimated Fair Value
Held to maturity: |  |  |  |  |
Due in one year or less | $ | 800 |  | $ | 800 |  |  | $ | 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 |  |  | $ | 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 | 12,753 |  | 13,310 |  |  | 13,404 |  | 14,010 |
No stated maturity (common stock) | 250 |  | 151 |  |  | 250 |  | 151 |
Total investment securities - available for sale | $ | 13,003 |  | $ | 13,461 |  |  | $ | 13,654 |  | $ | 14,161 |
Total investment securities | $ | 13,803 |  | $ | 14,261 |  |  | $ | 14,454 |  | $ | 14,961 |

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