XML 37 R26.htm IDEA: XBRL DOCUMENT v3.8.0.1
Derivative and Other Financial Instruments with Off-Balance Sheet Risks (Tables)
 9 Months Ended
Mar. 31, 2018
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
March 31, 2018
June 30, 2017
(In Thousands)
 
 
 
 
 
Undisbursed loan funds – Construction loans
$
5,591

$
9,015

Undisbursed lines of credit – Commercial business loans
579

646

Undisbursed lines of credit – Consumer loans
509

562

Commitments to extend credit on loans to be held for investment
4,996

19,119

Total
$
11,675

$
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 and nine months ended March 31, 2018 and 2017:
 
For the Quarters Ended  
 March 31,
For the Nine Months Ended
March 31,
(In Thousands)
2018
2017
2018
2017
Balance, beginning of the period
$
188

$
173

$
277

$
204

(Recovery) provision
(29
)
67

(118
)
36

Balance, end of the period
$
159

$
240

$
159

$
240
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 and nine months ended March 31, 2018 and 2017 were as follows:
 
For the Quarters Ended  
 March 31,
 For the Nine Months
Ended
March 31,
Derivative Financial Instruments
2018
2017
2018
2017
(In Thousands)
 
 
 
 
Commitments to extend credit on loans to be held for sale
$
266

$
628

$
173

$
(1,681
)
Mandatory loan sale commitments and TBA MBS trades
(281
)
(760
)
(1,072
)
2,105

Option contracts, net
—

(11
)
(37
)
333

Total net (loss) gain
$
(15
)
$
(143
)
$
(936
)
$
757
Schedule of Outstanding Derivative Instruments
The outstanding derivative financial instruments and other loan sale agreements at the dates indicated were as follows:
 
March 31, 2018
 
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)
$
62,871

$
982

 
$
92,726

$
809

Best efforts loan sale commitments
(16,900
)
—

 
(17,225
)
—

Mandatory loan sale commitments and TBA MBS trades
(134,097
)
(486
)
 
(179,777
)
586

Option contracts, net
—

—

 
(3,000
)
37

Total
$
(88,126
)
$
496

 
$
(107,276
)
$
1,432


(1) 
Net of 26.3 percent at March 31, 2018 and 25.7 percent at June 30, 2017 of commitments which management has estimated may not fund.