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Investment Securities | 3 Months Ended
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Sep. 30, 2017
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Investment Securities The amortized cost and estimated fair value of investment securities as of September 30, 2017 and June 30, 2017 were as follows:
September 30, 2017 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | Carrying Value
(In Thousands) |  |  |  |  |
Held to maturity: |  |  |  |  |
Certificates of deposit | $ | 600 |  | $ | — |  | $ | — |  | $ | 600 |  | $ | 600 |
U.S. government sponsored enterprise MBS (1) | 64,151 |  | 205 |  | (28 | ) | 64,328 |  | 64,151 |
Total investment securities - held to maturity | $ | 64,751 |  | $ | 205 |  | $ | (28 | ) | $ | 64,928 |  | $ | 64,751 |
Available for sale: |  |  |  |  |
U.S. government agency MBS | $ | 4,943 |  | $ | 199 |  | $ | — |  | $ | 5,142 |  | $ | 5,142 |
U.S. government sponsored enterprise MBS | 3,186 |  | 164 |  | — |  | 3,350 |  | 3,350 |
Private issue CMO (2) | 442 |  | 6 |  | — |  | 448 |  | 448 |
Total investment securities - available for sale | $ | 8,571 |  | $ | 369 |  | $ | — |  | $ | 8,940 |  | $ | 8,940 |
Total investment securities | $ | 73,322 |  | $ | 574 |  | $ | (28 | ) | $ | 73,868 |  | $ | 73,691 |
(1) | Mortgage-Backed Securities (“MBS”).
(2) | Collateralized Mortgage Obligations (“CMO”).
June 30, 2017 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | Carrying Value
(In Thousands) |  |  |  |  |
Held to maturity: |  |  |  |  |
Certificates of deposit | $ | 600 |  | $ | — |  | $ | — |  | $ | 600 |  | $ | 600 |
U.S. government sponsored enterprise MBS | 59,841 |  | 265 |  | (77 | ) | 60,029 |  | 59,841 |
Total investment securities - held to maturity | $ | 60,441 |  | $ | 265 |  | $ | (77 | ) | $ | 60,629 |  | $ | 60,441 |
Available for sale: |  |  |  |  |
U.S. government agency MBS | $ | 5,197 |  | $ | 186 |  | $ | — |  | $ | 5,383 |  | $ | 5,383 |
U.S. government sponsored enterprise MBS | 3,301 |  | 173 |  | — |  | 3,474 |  | 3,474 |
Private issue CMO | 456 |  | 5 |  | — |  | 461 |  | 461 |
Total investment securities - available for sale | $ | 8,954 |  | $ | 364 |  | $ | — |  | $ | 9,318 |  | $ | 9,318 |
Total investment securities | $ | 69,395 |  | $ | 629 |  | $ | (77 | ) | $ | 69,947 |  | $ | 69,759 |
In the first quarters of fiscal 2018 and 2017, the Corporation received MBS principal payments of $6.0 million and $4.0 million, respectively, and there were no sales of investment securities during these periods. The Corporation purchased U.S. government sponsored enterprise MBS totaling $10.1 million, to be held to maturity, during the first quarter of fiscal 2018 and no purchases were made during the first quarter of fiscal 2017. The Corporation held investments with an unrealized loss position of $28,000 at September 30, 2017 and $77,000 at June 30, 2017.
As of September 30, 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 | $ | 35,179 |  | $ | 28 |  |  | $ | — |  | $ | — |  |  | $ | 35,179 |  | $ | 28 |
Total investment securities | $ | 35,179 |  | $ | 28 |  |  | $ | — |  | $ | — |  |  | $ | 35,179 |  | $ | 28 |
As of June 30, 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 | $ | 28,722 |  | $ | 77 |  |  | $ | — |  | $ | — |  |  | $ | 28,722 |  | $ | 77 |
Total investment securities | $ | 28,722 |  | $ | 77 |  |  | $ | — |  | $ | — |  |  | $ | 28,722 |  | $ | 77 |
The Corporation evaluates individual investment securities quarterly for other-than-temporary declines in market value. As of September 30, 2017 and June 30, 2017, 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 September 30, 2017 and 2016; therefore, no impairment losses were recorded for the quarters ended September 30, 2017 and 2016. Contractual maturities of investment securities as of September 30, 2017 and June 30, 2017 were as follows:
| September 30, 2017 |  | June 30, 2017
(In Thousands) | Amortized Cost | Estimated Fair Value |  | Amortized Cost | Estimated Fair Value
Held to maturity: |  |  |  |  |
Due in one year or less | $ | 600 |  | $ | 600 |  |  | $ | 600 |  | $ | 600 |
Due after one through five years | 7,840 |  | 7,882 |  |  | 4,698 |  | 4,708 |
Due after five through ten years | 44,245 |  | 44,236 |  |  | 41,404 |  | 41,374 |
Due after ten years | 12,066 |  | 12,210 |  |  | 13,739 |  | 13,947 |
Total investment securities - held to maturity | $ | 64,751 |  | $ | 64,928 |  |  | $ | 60,441 |  | $ | 60,629 |
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 | 8,571 |  | 8,940 |  |  | 8,954 |  | 9,318 |
Total investment securities - available for sale | $ | 8,571 |  | $ | 8,940 |  |  | $ | 8,954 |  | $ | 9,318 |
Total investment securities | $ | 73,322 |  | $ | 73,868 |  |  | $ | 69,395 |  | $ | 69,947 |

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