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Derivative and Other Financial Instruments with Off-Balance Sheet Risks (Tables)
 9 Months Ended
Mar. 31, 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
March 31, 2017
June 30, 2016
(In Thousands)
 
 
 
 
 
Undisbursed loan funds - Construction loans
$
9,468

$
11,258

Undisbursed lines of credit – Mortgage loans
—

20

Undisbursed lines of credit – Commercial business loans
618

821

Undisbursed lines of credit – Consumer loans
565

674

Commitments to extend credit on loans to be held for investment
20,247

9,955

Total
$
30,898

$
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 quarters and nine months ended March 31, 2017 and 2016.
 
For the Quarters
Ended
March 31,
 
For the Nine Months
Ended
March 31,
(In Thousands)
2017
2016
 
2017
2016
Balance, beginning of the period
$
173

$
149

 
$
204

$
76

Provision
67

4

 
36

77

Balance, end of the period
$
240

$
153

 
$
240

$
153
Schedule of Impact of Derivative Financial Instruments on Gain on Sale of Loans
The net impact of derivative financial instruments is recorded within the gain on sale of loans contained in the Condensed Consolidated Statements of Operations during the quarters and nine months ended March 31, 2017 and 2016 was as follows:
 
For the Quarters
Ended
March 31,
 
 For the Nine Months
Ended
March 31,
Derivative Financial Instruments
2017
2016
 
2017
2016
(In Thousands)
 
 
 
 
 
Commitments to extend credit on loans to be held for sale
$
628

$
1,866

 
$
(1,681
)
$
1,537

Mandatory loan sale commitments and TBA MBS trades
(760
)
(1,435
)
 
2,105

(2,531
)
Option contracts, net
(11
)
85

 
333

(87
)
Total net (loss) gain
$
(143
)
$
516

 
$
757

$
(1,081
)
Schedule of Outstanding Derivative Instruments
The outstanding derivative financial instruments and other loan sale agreements at the dates indicated were as follows:
 
March 31, 2017
 
June 30, 2016
Derivative Financial Instruments
Amount
Fair
Value
 
Amount
Fair
Value
(In Thousands)
 
 
 
 
 
Commitments to extend credit on loans to be held for sale (1)
$
117,993

$
2,104

 
$
181,780

$
3,785

Best efforts loan sale commitments
(15,372
)
—

 
(29,576
)
—

Mandatory loan sale commitments and TBA MBS trades
(194,040
)
(1,091
)
 
(302,727
)
(3,196
)
Option contracts, net
(5,000
)
31

 
(5,000
)
—

Total
$
(96,419
)
$
1,044

 
$
(155,523
)
$
589


(1) 
Net of 27.8% at March 31, 2017 and 37.5% at June 30, 2016 of commitments which management has estimated may not fund.