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Derivative and Other Financial Instruments with Off-Balance Sheet Risks (Tables)
 12 Months Ended
Jun. 30, 2017
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
June 30,
2017
June 30,
2016
(Dollars In Thousands)
 
 
Undisbursed loan funds – Construction loans
$
9,015

$
11,258

Undisbursed lines of credit – Mortgage loans
—

20

Undisbursed lines of credit – Commercial business loans
646

821

Undisbursed lines of credit – Consumer loans
562

674

Commitments to extend credit on loans to be held for investment
19,119

9,955

Total
$
29,342

$
22,728
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 years ended June 30, 2017 and 2016 :
 
For the Year Ended
June 30,
(In Thousands)
2017
2016
Balance, beginning of the year
$
204

$
76

Provision
73

128

Balance, end of the year
$
277

$
204
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 Consolidated Statements of Operations for the years ended June 30, 2017, 2016 and 2015 was as follows:

(In Thousands)
For the Year Ended June 30,
Derivative Financial Instruments
2017
2016
2015
 
 
 
 
Commitments to extend credit on loans to be held for sale
$
(2,976
)
$
2,286

$
(1,067
)
Mandatory loan sale commitments and TBA MBS trades
3,782

(3,937
)
2,169

Option contracts
260

(112
)
(168
)
Total net gain (loss)
$
1,066

$
(1,763
)
$
934
Schedule of Outstanding Derivative Instruments
The outstanding derivative financial instruments at the dates indicated were as follows:
(In Thousands)
June 30, 2017
 
June 30, 2016
Derivative Financial Instruments
Amount
Fair
Value
 
Amount
Fair
Value
 
 
 
 
 
 
Commitments to extend credit on loans to be held for sale(1)
$
92,726

$
809

 
$
181,780

$
3,785

Best efforts loan sale commitments
(17,225
)
—

 
(29,576
)
—

Mandatory loan sale commitments and TBA MBS trades
(179,777
)
586

 
(302,727
)
(3,196
)
Option contracts
(3,000
)
37

 
(5,000
)
—

Total
$
(107,276
)
$
1,432

 
$
(155,523
)
$
589


(1) 
Net of 25.7% at June 30, 2017 and 37.5% at June 30, 2016 of commitments, which management has estimated may not fund.