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Mortgage Loan Servicing and Loans Originated for Sale (Tables)
 12 Months Ended
Jun. 30, 2016
Transfers and Servicing [Abstract]  
Schedule of Mortgage Loans Serviced for Others
The following summarizes the unpaid principal balance of loans serviced for others by the Corporation at the dates indicated:
 
(In Thousands)
As of June 30,
2016
2015
2014
Loans serviced for Freddie Mac
$
6,819

$
4,206

$
4,574

Loans serviced for Fannie Mae
78,250

46,582

38,470

Loans serviced for FHLB – San Francisco
20,385

28,222

38,602

Loans serviced for other investors
15

1,048

1,088

Total loans serviced for others
$
105,469

$
80,058

$
82,734
Schedule of Mortgage Servicing Assets
The following table summarizes the Corporation’s MSA for years ended June 30, 2016 and 2015:
 
Year Ended June 30,
(Dollars In Thousands)
2016
2015
 
 
 
MSA balance, beginning of fiscal year
$
644

$
554

Additions
394

150

Amortization
(243
)
(60
)
MSA balance, end of fiscal year, before allowance
795

644

Allowance
(168
)
(248
)
MSA balance, end of fiscal year
$
627

$
396

 
 
 
Fair value, beginning of fiscal year
$
470

$
357

Fair value, end of fiscal year
$
627

$
470

 
 
 
Allowance, beginning of fiscal year
$
248

$
259

Impairment recoveries
(80
)
(11
)
Allowance, end of fiscal year
$
168

$
248

 
 
 
Key Assumptions:
 
 
Weighted-average discount rate
9.07
%
9.10
%
Weighted-average prepayment speed
19.68
%
17.50
%
Schedule of Estimated Future Amortization of Mortgage Servicing Assets
The following table summarizes the estimated future amortization of MSA for the next five years and thereafter:
 
Amount
Year Ending June 30,
(In Thousands)
 
 
2017
$
177

2018
145

2019
111

2020
81

2021
60

Thereafter
221

Total estimated amortization expense
$
795
Schedule of Mortgage Servicing Assets, Hypothetical Effect on Fair Value
The following table represents the hypothetical effect on the fair value of the Corporation’s MSA using an unfavorable shock analysis of certain key valuation assumptions as of June 30, 2016 and 2015.  This analysis is presented for hypothetical purposes only.  As the amounts indicate, changes in fair value based on changes in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value may not be linear.
 
Year Ended June 30,
(Dollars In Thousands)
2016
2015
MSA net carrying value
$
627

$
396

 
 
 
CPR assumption (weighted-average)
19.68
%
17.50
%
Impact on fair value with 10% adverse change in prepayment speed
$
(29
)
$
(19
)
Impact on fair value with 20% adverse change in prepayment speed
$
(55
)
$
(36
)
 
 
 
Discount rate assumption (weighted-average)
9.07
%
9.10
%
Impact on fair value with 10% adverse change in discount rate
$
(21
)
$
(18
)
Impact on fair value with 20% adverse change in discount rate
$
(41
)
$
(35
)
Schedule of Mortgage Servicing Assets Sold
Loans sold consisted of the following for the years indicated:
 
(In Thousands)
Year Ended June 30,
2016
2015
2014
Loans sold:
 
 
 
Servicing – released
$
1,948,423

$
2,392,251

$
1,990,087

Servicing – retained
45,798

17,663

9,189

Total loans sold
$
1,994,221

$
2,409,914

$
1,999,276
Schedule of Mortgage Servicing Assets Held For Sale
Loans held for sale, at fair value, at June 30, 2016 and 2015 consisted of the following:
 
(In Thousands)
June 30,
2016
2015
Fixed rate
$
186,203

$
222,529

Adjustable rate
3,255

2,186

Total loans held for sale, at fair value
$
189,458

$
224,715