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Investment Securities | 12 Months Ended
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Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Investment Securities The amortized cost and estimated fair value of investment securities as of June 30, 2018 and 2017 were as follows:
June 30, 2018 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | Carrying Value
(In Thousands) |  |  |  |  |
Held to maturity |  |  |  |  |
U.S. government sponsored enterprise MBS | $ | 84,227 |  | $ | 203 |  | $ | (762 | ) | $ | 83,668 |  | $ | 84,227 |
U.S. SBA securities(1) | 2,986 |  | — |  | (15 | ) | 2,971 |  | 2,986 |
Certificate of deposits | 600 |  | — |  | — |  | 600 |  | 600 |
Total investment securities - held to maturity | $ | 87,813 |  | $ | 203 |  | $ | (777 | ) | $ | 87,239 |  | $ | 87,813 |
Available for sale |  |  |  |  |
U.S. government agency MBS | $ | 4,234 |  | $ | 150 |  | $ | — |  | $ | 4,384 |  | $ | 4,384 |
U.S. government sponsored enterprise MBS | 2,640 |  | 122 |  | — |  | 2,762 |  | 2,762 |
Private issue CMO(2) | 346 |  | 4 |  | — |  | 350 |  | 350 |
Total investment securities - available for sale | $ | 7,220 |  | $ | 276 |  | $ | — |  | $ | 7,496 |  | $ | 7,496 |
Total investment securities | $ | 95,033 |  | $ | 479 |  | $ | (777 | ) | $ | 94,735 |  | $ | 95,309 |
(1) | Small Busines Administration ("SBA").
(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 |  |  |  |  |
U.S. government sponsored enterprise MBS | $ | 59,841 |  | $ | 265 |  | $ | (77 | ) | $ | 60,029 |  | $ | 59,841 |
Certificate of deposits | 600 |  | — |  | — |  | 600 |  | 600 |
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(1) | 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 |
(1) | Collateralized Mortgage Obligations (“CMO”).
In fiscal 2018, 2017 and 2016, the Corporation received MBS principal payments of $27.2 million, $15.1 million and $4.8 million, respectively; did not sell any investment securities; and $147,000 of common stock was redeemed in fiscal 2017. The Corporation purchased mortgage-backed securities totaling $53.9 million, $34.5 million and $41.7 million during fiscal 2018, 2017 and 2016, respectively. As of June 30, 2018 and 2017, the Corporation held investments with unrealized loss position of $777,000 and $77,000, respectively.
As of June 30, 2018 | 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
U.S. government sponsored enterprise MBS | $ | 47,045 |  | $ | 762 |  |  | $ | — |  | $ | — |  |  | $ | 47,045 |  | $ | 762 |
U.S. SBA securities | $ | 2,964 |  | $ | 15 |  |  | $ | — |  | $ | — |  |  | $ | 2,964 |  | $ | 15 |
Total | $ | 50,009 |  | $ | 777 |  |  | $ | — |  | $ | — |  |  | $ | 50,009 |  | $ | 777 |
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
U.S. government sponsored enterprise MBS | $ | 28,722 |  | $ | 77 |  |  | $ | — |  | $ | — |  |  | $ | 28,722 |  | $ | 77 |
Total | $ | 28,722 |  | $ | 77 |  |  | $ | — |  | $ | — |  |  | $ | 28,722 |  | $ | 77 |
As of June 30, 2018 and 2017, the unrealized holding losses were less than 12 months. The unrealized loss at June 30, 2018 was attributable to 13 U.S. government sponsored enterprise MBS and one U.S. SBA security and, based on the nature of the investment, management concluded that such unrealized loss was not other than temporary; while the unrealized loss at June 30, 2017 was attributable to five U.S. government sponsored enterprise MBS and, based on the nature of the investment, management concluded that such unrealized loss was not other than temporary. The Corporation does not believe that there was any OTTI at June 30, 2018 and 2017. At each of these dates, the Corporation intended and had the ability to hold the investment securities and was not likely to be required to sell the securities before realizing a full recovery. Contractual maturities of investment securities as of June 30, 2018 and 2017 were as follows:
| June 30, 2018 |  | 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 | 24,961 |  | 24,569 |  |  | 4,698 |  | 4,708 |
Due after five through ten years | 22,847 |  | 22,477 |  |  | 41,404 |  | 41,374 |
Due after ten years | 39,405 |  | 39,593 |  |  | 13,739 |  | 13,947 |
Total investment securities - held to maturity | $ | 87,813 |  | $ | 87,239 |  |  | $ | 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 | 7,220 |  | 7,496 |  |  | 8,954 |  | 9,318 |
No stated maturity (common stock) | — |  | — |  |  | — |  | — |
Total investment securities - available for sale | $ | 7,220 |  | $ | 7,496 |  |  | $ | 8,954 |  | $ | 9,318 |
Total investment securities | $ | 95,033 |  | $ | 94,735 |  |  | $ | 69,395 |  | $ | 69,947 |

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- 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 -URI http://asc.fasb.org/topic&trid=2196928 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=4738149 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2289146 + Details
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