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Investment Securities | 12 Months Ended
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Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Note 2: Investment Securities The amortized cost and estimated fair value of investment securities as of June 30, 2019 and 2018 were as follows:
June 30, 2019 | Amortized Cost | Gross Unrealized Gains | Gross Unrealized (Losses) | Estimated Fair Value | Carrying Value
(In Thousands) |  |  |  |  |
Held to maturity |  |  |  |  |
U.S. government sponsored enterprise MBS | $ | 90,394 |  | $ | 1,289 |  | $ | (14 | ) | $ | 91,669 |  | $ | 90,394 |
U.S. SBA securities(1) | 2,896 |  | — |  | (6 | ) | 2,890 |  | 2,896 |
Certificate of deposits | 800 |  | — |  | — |  | 800 |  | 800 |
Total investment securities - held to maturity | $ | 94,090 |  | $ | 1,289 |  | $ | (20 | ) | $ | 95,359 |  | $ | 94,090 |
Available for sale |  |  |  |  |
U.S. government agency MBS | $ | 3,498 |  | $ | 116 |  | $ | (1 | ) | $ | 3,613 |  | $ | 3,613 |
U.S. government sponsored enterprise MBS | 1,998 |  | 89 |  | — |  | 2,087 |  | 2,087 |
Private issue CMO(2) | 261 |  | 8 |  | — |  | 269 |  | 269 |
Total investment securities - available for sale | $ | 5,757 |  | $ | 213 |  | $ | (1 | ) | $ | 5,969 |  | $ | 5,969 |
Total investment securities | $ | 99,847 |  | $ | 1,502 |  | $ | (21 | ) | $ | 101,328 |  | $ | 100,059 |
(1) | Small Business Administration ("SBA").
(2) | Collateralized Mortgage Obligations (“CMO”).
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 Business Administration ("SBA").
(2) | Collateralized Mortgage Obligations (“CMO”).
In fiscal 2019 and 2018, the Corporation received MBS principal payments of $34.2 million and $27.2 million, respectively and did not sell any investment securities. The Corporation purchased mortgage-backed securities totaling $39.9 million and $53.9 million during fiscal 2019 and 2018, respectively. As of June 30, 2019 and 2018, the Corporation held investments with unrealized loss position of $21,000 and $777,000, respectively.
As of June 30, 2019 | 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 | $ | 6,507 |  | $ | 8 |  |  | $ | 1,657 |  | $ | 6 |  |  | $ | 8,164 |  | $ | 14 |
U.S. SBA securities |  | — |  | $ | — |  |  |  | 2,883 |  |  | 6 |  |  |  | 2,883 |  |  | 6 |
Total investment securities – held to maturity | $ | 6,507 |  | $ | 8 |  |  | $ | 4,540 |  | $ | 12 |  |  | $ | 11,047 |  | $ | 20 |
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency MBS | $ | 289 |  | $ | 1 |  |  | $ | — |  | $ | — |  |  | $ | 289 |  | $ | 1 |
Total investment securities – available for sale | $ | 289 |  | $ | 1 |  |  | $ | — |  | $ | — |  |  | $ | 289 |  | $ | 1 |
Total investment securities | $ | 6,796 |  | $ | 9 |  |  | $ | 4,540 |  | $ | 12 |  |  | $ | 11,336 |  | $ | 21 |
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
Held to maturity |  |  |  |  |  |  |  |
U.S. government sponsored enterprise MBS | $ | 47,045 |  | $ | 762 |  |  | $ | — |  | $ | — |  |  | $ | 47,045 |  | $ | 762 |
U.S. SBA securities |  | 2,964 |  |  | 15 |  |  |  | — |  |  | — |  |  |  | 2,964 |  |  | 15 |
Total investment securities | $ | 50,009 |  | $ | 777 |  |  | $ | — |  | $ | — |  |  | $ | 50,009 |  | $ | 777 |
As of June 30, 2019, the Corporation had investment securities with unrealized holding losses of $9,000 that were less than 12 months and $12,000 that were in an unrealized loss position for more than 12 months, as compared to investment securities at June 30, 2018 with unrealized holding losses of $777,000 that were less than 12 months. The unrealized loss at June 30, 2019 was attributable to one U.S. government agency MBS, three U.S. government sponsored enterprise MBS and one U.S. SBA security and, based on the nature of the investments, management concluded that such unrealized losses were not other than temporary; while 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 investments, management concluded that such unrealized losses were not other than temporary. The Corporation does not believe that there was any OTTI at June 30, 2019 and 2018. 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, 2019 and 2018 were as follows:
| June 30, 2019 |  | June 30, 2018
(In Thousands) | Amortized Cost | Estimated Fair Value |  | Amortized Cost | Estimated Fair Value
Held to maturity |  |  |  |  |
Due in one year or less | $ | 400 |  | $ | 400 |  |  | $ | 600 |  | $ | 600 |
Due after one through five years | 32,584 |  | 32,728 |  |  | 24,961 |  | 24,569 |
Due after five through ten years | 35,306 |  | 36,090 |  |  | 22,847 |  | 22,477 |
Due after ten years | 25,800 |  | 26,141 |  |  | 39,405 |  | 39,593 |
Total investment securities - held to maturity | $ | 94,090 |  | $ | 95,359 |  |  | $ | 87,813 |  | $ | 87,239 |
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 | 5,757 |  | 5,969 |  |  | 7,220 |  | 7,496 |
No stated maturity (common stock) | — |  | — |  |  | — |  | — |
Total investment securities - available for sale | $ | 5,757 |  | $ | 5,969 |  |  | $ | 7,220 |  | $ | 7,496 |
Total investment securities | $ | 99,847 |  | $ | 101,328 |  |  | $ | 95,033 |  | $ | 94,735 |

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