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Derivative and Other Financial Instruments with Off-Balance Sheet Risks (Tables)
 3 Months Ended
Sep. 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
September 30, 2017
June 30, 2017
(In Thousands)
 
 
 
 
 
Undisbursed loan funds – Construction loans
$
8,189

$
9,015

Undisbursed lines of credit – Commercial business loans
674

646

Undisbursed lines of credit – Consumer loans
549

562

Commitments to extend credit on loans to be held for investment
4,276

19,119

Total
$
13,688

$
29,342
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 ended September 30, 2017 and 2016.
 
For the Quarters
Ended
September 30,
(In Thousands)
2017
2016
Balance, beginning of the period
$
277

$
204

Recovery
(64
)
(31
)
Balance, end of the period
$
213

$
173
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 ended September 30, 2017 and 2016 was as follows:
 
For the Quarters
Ended
September 30,
Derivative Financial Instruments
2017
2016
(In Thousands)
 
 
Commitments to extend credit on loans to be held for sale
$
(122
)
$
(1,211
)
Mandatory loan sale commitments and TBA MBS trades
(209
)
1,797

Option contracts, net
(37
)
(22
)
Total net (loss) gain
$
(368
)
$
564
Schedule of Outstanding Derivative Instruments
The outstanding derivative financial instruments and other loan sale agreements at the dates indicated were as follows:
 
September 30, 2017
 
June 30, 2017
Derivative Financial Instruments
Amount
Fair
Value
 
Amount
Fair
Value
(In Thousands)
 
 
 
 
 
Commitments to extend credit on loans to be held for sale (1)
$
92,065

$
687

 
$
92,726

$
809

Best efforts loan sale commitments
(22,965
)
—

 
(17,225
)
—

Mandatory loan sale commitments and TBA MBS trades
(185,888
)
377

 
(179,777
)
586

Option contracts, net
—

—

 
(3,000
)
37

Total
$
(116,788
)
$
1,064

 
$
(107,276
)
$
1,432


(1) 
Net of 27.8% at September 30, 2017 and 25.7% at June 30, 2017 of commitments which management has estimated may not fund.