Investment Securities (Tables)

12 Months Ended

Jun. 30, 2018

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”).

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

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