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Investment Securities | 9 Months Ended
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Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Investment Securities The amortized cost and estimated fair value of investment securities as of March 31, 2016 and June 30, 2015 were as follows:
March 31, 2016 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | Carrying Value
(In Thousands) |  |  |  |  |
Held to maturity: |  |  |  |  |
Certificates of deposit | $ | 800 |  | $ | — |  | $ | — |  | $ | 800 |  | $ | 800 |
U.S. government sponsored enterprise MBS (1) | 20,214 |  | 149 |  | — |  | 20,363 |  | 20,214 |
Total investment securities - held to maturity | $ | 21,014 |  | $ | 149 |  | $ | — |  | $ | 21,163 |  | $ | 21,014 |
Available for sale: |  |  |  |  |
U.S. government agency MBS | $ | 6,674 |  | $ | 273 |  | $ | — |  | $ | 6,947 |  | $ | 6,947 |
U.S. government sponsored enterprise MBS | 4,219 |  | 231 |  | — |  | 4,450 |  | 4,450 |
Private issue CMO (2) | 615 |  | 3 |  | (1 | ) | 617 |  | 617 |
Common stock - community development financial institution | 250 |  | — |  | (103 | ) | 147 |  | 147 |
Total investment securities - available for sale | $ | 11,758 |  | $ | 507 |  | $ | (104 | ) | $ | 12,161 |  | $ | 12,161 |
Total investment securities | $ | 32,772 |  | $ | 656 |  | $ | (104 | ) | $ | 33,324 |  | $ | 33,175 |
(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 third quarters of fiscal 2016 and 2015, the Corporation received MBS principal payments of $1.1 million and $331,000, respectively, and there were no sales of investment securities during these periods. The Corporation purchased U.S. government sponsored enterprise MBS totaling $10.6 million to be held to maturity in the third quarter of fiscal 2016 and did not purchase any investment securities in the third quarter of fiscal 2015. For the first nine months of fiscal 2016 and 2015, the Corporation received MBS principal payments of $2.4 million and $1.6 million, respectively. The Corporation purchased $20.8 million of U.S. government sponsored enterprise MBS to be held to maturity in the first nine months of fiscal 2016 and, in the first quarter of fiscal 2015, $250,000 in the common stock of a community development financial institution held as available for sale to help fulfill the Bank's Community Reinvestment Act ("CRA") obligation. The Corporation held investments with unrealized loss position of $104,000 at March 31, 2016 and $99,000 at June 30, 2015.
As of March 31, 2016 | 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
Available for sale: |  |  |  |  |  |  |  |
Private issue CMO | $ | 104 |  | $ | 1 |  |  | $ | — |  | $ | — |  |  | $ | 104 |  | $ | 1 |
Common stock(1) | $ | 147 |  | $ | 103 |  |  | $ | — |  | $ | — |  |  | $ | 147 |  | $ | 103 |
Total investment securities | $ | 251 |  | $ | 104 |  |  | $ | — |  | $ | — |  |  | $ | 251 |  | $ | 104 |
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
Available for sale: |  |  |  |  |  |  |  |
Common stock(1) | $ | 151 |  | $ | 99 |  |  | $ | — |  | $ | — |  |  | $ | 151 |  | $ | 99 |
Total investment securities | $ | 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 March 31, 2016, the unrealized holding loss was less than 12 months. The Corporation does not believe that there are any other-than-temporary impairments on the investment securities at March 31, 2016 and 2015; therefore, no impairment losses have been recorded for the quarters and nine months ended March 31, 2016 and 2015. Contractual maturities of investment securities as of March 31, 2016 and June 30, 2015 were as follows:
| March 31, 2016 |  | 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 | 20,214 |  | 20,363 |  |  | — |  | — |
Due after ten years | — |  | — |  |  | — |  | — |
Total investment securities - held to maturity | $ | 21,014 |  | $ | 21,163 |  |  | $ | 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 | 11,508 |  | 12,014 |  |  | 13,404 |  | 14,010 |
No stated maturity (common stock) | 250 |  | 147 |  |  | 250 |  | 151 |
Total investment securities - available for sale | $ | 11,758 |  | $ | 12,161 |  |  | $ | 13,654 |  | $ | 14,161 |
Total investment securities | $ | 32,772 |  | $ | 33,324 |  |  | $ | 14,454 |  | $ | 14,961 |

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