XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Investment Securities | 9 Months Ended
--- | ---
Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Investment Securities The amortized cost and estimated fair value of investment securities as of March 31, 2017 and June 30, 2016 were as follows:
March 31, 2017 | 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) | 40,235 |  | 241 |  | (6 | ) | 40,470 |  | 40,235 |
Total investment securities - held to maturity | $ | 41,035 |  | $ | 241 |  | $ | (6 | ) | $ | 41,270 |  | $ | 41,035 |
Available for sale: |  |  |  |  |
U.S. government agency MBS | $ | 5,499 |  | $ | 201 |  | $ | — |  | $ | 5,700 |  | $ | 5,700 |
U.S. government sponsored enterprise MBS | 3,474 |  | 187 |  | — |  | 3,661 |  | 3,661 |
Private issue CMO (2) | 497 |  | 4 |  | — |  | 501 |  | 501 |
Total investment securities - available for sale | $ | 9,470 |  | $ | 392 |  | $ | — |  | $ | 9,862 |  | $ | 9,862 |
Total investment securities | $ | 50,505 |  | $ | 633 |  | $ | (6 | ) | $ | 51,132 |  | $ | 50,897 |
(1) | Mortgage-Backed Securities (“MBS”).
(2) | Collateralized Mortgage Obligations (“CMO”).
June 30, 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 | 39,179 |  | 459 |  | — |  | 39,638 |  | 39,179 |
Total investment securities - held to maturity | $ | 39,979 |  | $ | 459 |  | $ | — |  | $ | 40,438 |  | $ | 39,979 |
Available for sale: |  |  |  |  |
U.S. government agency MBS | $ | 6,308 |  | $ | 264 |  | $ | — |  | $ | 6,572 |  | $ | 6,572 |
U.S. government sponsored enterprise MBS | 3,998 |  | 225 |  | — |  | 4,223 |  | 4,223 |
Private issue CMO | 598 |  | 4 |  | (1 | ) | 601 |  | 601 |
Common stock - community development financial institution | 147 |  | — |  | — |  | 147 |  | 147 |
Total investment securities - available for sale | $ | 11,051 |  | $ | 493 |  | $ | (1 | ) | $ | 11,543 |  | $ | 11,543 |
Total investment securities | $ | 51,030 |  | $ | 952 |  | $ | (1 | ) | $ | 51,981 |  | $ | 51,522 |
In the third quarters of fiscal 2017 and 2016, the Corporation received MBS principal payments of $3.5 million and $1.1 million, respectively, and there were no sales of investment securities during these periods. In the third quarters of fiscal 2017 and 2016, the Corporation purchased U.S. government sponsored enterprise MBS totaling $11.0 million and $10.6 million to be held to maturity, respectively. For the first nine months of fiscal 2017 and 2016, the Corporation received MBS principal payments of $10.8 million and $2.4 million, respectively, and there were no sales of investment securities during these periods. In the first nine months of fiscal 2017 and 2016, the Corporation purchased U.S. government sponsored enterprise MBS totaling $11.0 million and $20.8 million to be held to maturity, respectively. In July 2016, the Corporation received the cash proceeds from its equity investment in a community development financial institution, consistent with the purchase agreement between the acquiring institution and the community development financial institution. The Corporation held investments with an unrealized loss position of $6,000 at March 31, 2017 and $1,000 at June 30, 2016.
As of March 31, 2017 | 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
Held to maturity: |  |  |  |  |  |  |  |
U.S. government sponsored enterprise MBS | $ | 11,548 |  | $ | 6 |  |  | $ | — |  | $ | — |  |  | $ | 11,548 |  | $ | 6 |
Total investment securities | $ | 11,548 |  | $ | 6 |  |  | $ | — |  | $ | — |  |  | $ | 11,548 |  | $ | 6 |
As of June 30, 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 | $ | 103 |  | $ | 1 |  |  | $ | — |  | $ | — |  |  | $ | 103 |  | $ | 1 |
Total investment securities | $ | 103 |  | $ | 1 |  |  | $ | — |  | $ | — |  |  | $ | 103 |  | $ | 1 |
The Corporation evaluates individual investment securities quarterly for other-than-temporary declines in market value. As of March 31, 2017 and June 30, 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, 2017 and 2016; therefore, no impairment losses were recorded for the quarters and nine months ended March 31, 2017 and 2016. Contractual maturities of investment securities as of March 31, 2017 and June 30, 2016 were as follows:
| March 31, 2017 |  | June 30, 2016
(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 | 25,286 |  | 25,290 |  |  | 18,904 |  | 19,203 |
Due after ten years | 14,949 |  | 15,180 |  |  | 20,275 |  | 20,435 |
Total investment securities - held to maturity | $ | 41,035 |  | $ | 41,270 |  |  | $ | 39,979 |  | $ | 40,438 |
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 | 9,470 |  | 9,862 |  |  | 10,904 |  | 11,396 |
No stated maturity (common stock) | — |  | — |  |  | 147 |  | 147 |
Total investment securities - available for sale | $ | 9,470 |  | $ | 9,862 |  |  | $ | 11,051 |  | $ | 11,543 |
Total investment securities | $ | 50,505 |  | $ | 51,132 |  |  | $ | 51,030 |  | $ | 51,981 |

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27232-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=73527792&loc=d3e27405-111563 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration