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Investment Securities | 6 Months Ended
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Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Investment Securities The amortized cost and estimated fair value of investment securities as of December 31, 2017 and June 30, 2017 were as follows:
As of December 31, 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) | 87,026 |  | 147 |  | 437 |  | 86,736 |  | 87,026 |
Total investment securities - held to maturity | $ | 87,626 |  | $ | 147 |  | $ | 437 |  | $ | 87,336 |  | $ | 87,626 |
Available for sale: |  |  |  |  |
U.S. government agency MBS | $ | 4,678 |  | $ | 181 |  | $ | — |  | $ | 4,859 |  | $ | 4,859 |
U.S. government sponsored enterprise MBS | 2,977 |  | 150 |  | — |  | 3,127 |  | 3,127 |
Private issue CMO (2) | 413 |  | 6 |  | — |  | 419 |  | 419 |
Total investment securities - available for sale | $ | 8,068 |  | $ | 337 |  | $ | — |  | $ | 8,405 |  | $ | 8,405 |
Total investment securities | $ | 95,694 |  | $ | 484 |  | $ | 437 |  | $ | 95,741 |  | $ | 96,031 |
(1) | Mortgage-Backed Securities (“MBS”).
(2) | Collateralized Mortgage Obligations (“CMO”).
As of 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 second quarters of fiscal 2018 and 2017, the Corporation received MBS principal payments of $5.8 million and $3.2 million, respectively, and there were no sales of investment securities during these periods. The Corporation purchased U.S. government sponsored enterprise MBS totaling $28.4 million, to be held to maturity, during the second quarter of fiscal 2018 and no purchases were made during the second quarter of fiscal 2017. For the first six months of fiscal 2018 and 2017, the Corporation received MBS principal payments of $11.7 million and $7.3 million, respectively, and there were no sales of investment securities during these periods. In the first six months of fiscal 2018, the Corporation purchased U.S. government sponsored enterprise MBS totaling $38.5 million, to be held to maturity, and none were purchased in the first six months of fiscal 2017. The Corporation held investments with an unrealized loss position of $437,000 at December 31, 2017 and $77,000 at June 30, 2017.
As of December 31, 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 | $ | 71,893 |  | $ | 437 |  |  | $ | — |  | $ | — |  |  | $ | 71,893 |  | $ | 437 |
Total investment securities | $ | 71,893 |  | $ | 437 |  |  | $ | — |  | $ | — |  |  | $ | 71,893 |  | $ | 437 |
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 December 31, 2017 and June 30, 2017, the unrealized holding losses were for a term of less than 12 months. The Corporation does not believe that there are any other-than-temporary impairments on the investment securities at December 31, 2017 and 2016; therefore, no impairment losses were recorded for the quarters and six months ended December 31, 2017 and 2016. Contractual maturities of investment securities as of December 31, 2017 and June 30, 2017 were as follows:
| December 31, 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 | 11,036 |  | 11,002 |  |  | 4,698 |  | 4,708 |
Due after five through ten years | 43,596 |  | 43,286 |  |  | 41,404 |  | 41,374 |
Due after ten years | 32,394 |  | 32,448 |  |  | 13,739 |  | 13,947 |
Total investment securities - held to maturity | $ | 87,626 |  | $ | 87,336 |  |  | $ | 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 | 8,068 |  | 8,405 |  |  | 8,954 |  | 9,318 |
Total investment securities - available for sale | $ | 8,068 |  | $ | 8,405 |  |  | $ | 8,954 |  | $ | 9,318 |
Total investment securities | $ | 95,694 |  | $ | 95,741 |  |  | $ | 69,395 |  | $ | 69,947 |

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