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Fair Value of Financial Instruments (Tables)

12 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of Aggregate Fair Value and Aggregate Unpaid Principal Balance of Loans Held for Sale

(In Thousands)		Aggregate Fair Value				Aggregate Unpaid Principal Balance				Net Unrealized Gain (Loss)
As of June 30, 2019:
Loans held for investment, at fair value		$	5,094			$	5,218			$	(124	)
Loans held for sale, at fair value		$	-			$	-			$	-
As of June 30, 2018:
Loans held for investment, at fair value		$	5,234			$	5,546			$	(312	)
Loans held for sale, at fair value		$	96,298			$	93,791			$	2,507

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

		Fair Value Measurement at June 30, 2019 Using:
(In Thousands)		Level 1				Level 2				Level 3				Total
Assets:
Investment securities - available for sale:
U.S. government agency MBS		$	—			$	3,613			$	—			$	3,613
U.S. government sponsored enterprise MBS			—				2,087				—				2,087
Private issue CMO			—				—				269				269
Investment securities - available for sale			—				5,700				269				5,969
Loans held for investment, at fair value			—				—				5,094				5,094
Interest-only strips			—				—				16				16
Total assets		$	—			$	5,700			$	5,379			$	11,079
Liabilities:		$	—			$	—			$	—			$	—
Total liabilities		$	—			$	—			$	—			$	—

		Fair Value Measurement at June 30, 2018 Using:
(In Thousands)		Level 1				Level 2				Level 3				Total
Assets:
Investment securities - available for sale:
U.S. government agency MBS		$	—			$	4,384			$	—			$	4,384
U.S. government sponsored enterprise MBS			—				2,762				—				2,762
Private issue CMO			—				—				350				350
Investment securities - available for sale			—				7,146				350				7,496
Loans held for investment, at fair value			—				—				5,234				5,234
Loans held for sale, at fair value			—				96,298				—				96,298
Interest-only strips			—				—				23				23
Derivative assets:
Commitments to extend credit on loans to be held for sale			—				—				849				849
Derivative assets			—				—				849				849
Total assets		$	—			$	103,444			$	6,456			$	109,900
Liabilities:
Derivative liabilities:
Commitments to extend credit on loans to be held for sale		$	—			$	—			$	24			$	24
Mandatory loan sale commitments			—				—				32				32
TBA MBS trades			—				408				—				408
Derivative liabilities			—				408				56				464
Total liabilities		$	—			$	408			$	56			$	464

Schedule for Reconciliation of Recurring Fair Value Measurements Using Level 3 Inputs

	Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3)
(In Thousands)	Private Issue CMO			Loans Held For Investment, at fair value(1)			Interest- Only Strips			Loan Commit- ments to Originate(2)			Manda- tory Commit- ments(3)			Option Contracts			Total
Beginning balance at June 30, 2018	$	350		$	5,234		$	23		$	825		$	(32	)	$	—		$	6,400
Total gains or losses (realized/      unrealized):
Included in earnings	—			188			—			(825		)	19			—			(618		)
Included in other comprehensive         income (loss)	4			—			(7		)	—			—			—			(3		)
Purchases	—			—			—			—			—			—			—
Issuances	—			—			—			—			—			—			—
Settlements	(85		)	(1,288		)	—			—			13			—			(1,360		)
Transfers in and/or out of Level 3	—			960			—			—			—			—			960
Ending balance at June 30, 2019	$	269		$	5,094		$	16		$	—		$	—		$	—		$	5,379

⁽¹⁾ The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for interest rate characteristics.

⁽²⁾ Consists of commitments to extend credit on loans to be held for sale.

⁽³⁾ Consists of mandatory loan sale commitments.

	Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3)
(In Thousands)	Private Issue CMO			Loans Held For Investment, at fair value(1)			Interest- Only Strips			Loan Commit- ments to Originate(2)			Manda- tory Commit- ments(3)			Option Contracts			Total
Beginning balance at June 30, 2017	$	461		$	6,445		$	31		$	809		$	47		$	37		$	7,830
Total gains or losses (realized/      unrealized):
Included in earnings	—			(60		)	—			16			(87		)	(37		)	(168		)
Included in other comprehensive         income (loss)	(1		)	—			(8		)	—			—			—			(9		)
Purchases	—			—			—			—			—			—			—
Issuances	—			—			—			—			—			—			—
Settlements	(110		)	(2,242		)	—			—			8			—			(2,344		)
Transfers in and/or out of Level 3	—			1,091			—			—			—			—			1,091
Ending balance at June 30, 2018	$	350		$	5,234		$	23		$	825		$	(32	)	$	—		$	6,400

⁽¹⁾ The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for interest rate characteristics.

⁽²⁾ Consists of commitments to extend credit on loans to be held for sale.

⁽³⁾ Consists of mandatory loan sale commitments.

Schedule of Fair Value Assets Measured on Nonrecurring Basis

		Fair Value Measurement at June 30, 2019 Using:
(In Thousands)		Level 1				Level 2				Level 3				Total
Non-performing loans		$	—			$	3,971			$	2,247			$	6,218
Mortgage servicing assets			—				—				627				627
Real estate owned, net			—				—				—				—
Total		$	—			$	3,971			$	2,874			$	6,845

		Fair Value Measurement at June 30, 2018 Using:
(In Thousands)		Level 1				Level 2				Level 3				Total
Non-performing loans		$	—			$	4,845			$	1,212			$	6,057
Mortgage servicing assets			—				—				135				135
Real estate owned, net			—				906				—				906
Total		$	—			$	5,751			$	1,347			$	7,098

Schedule of Additional Information About Valuation Techniques and Inputs Used for Assets and Liabilities

(Dollars In Thousands)	Fair Value As of June 30, 2019			Valuation Techniques	Unobservable Inputs	Range(1) (Weighted Average)	Impact to Valuation from an Increase in Inputs(2)
Assets:
Securities available-for sale:    Private issue CMO	$	269		Market comparable pricing	Comparability adjustment	2.5% - 2.9% (2.8%)	Increase
Loans held for investment, at fair    value	$	5,094		Relative value analysis	Broker quotes Credit risk factor	98.7% - 104.3% (102.0%) of par 1.2% - 100.0% (4.3%)	Increase Decrease
Non-performing loans(3)	$	693		Discounted cash flow	Default rates	5.0%	Decrease
Non-performing loans(4)	$	1,554		Relative value analysis	Credit risk factor	20.0% - 30.0% (19.9%)	Decrease
Mortgage servicing assets	$	627		Discounted cash flow	Prepayment speed (CPR) Discount rate	14.6% - 60.0% (23.9%) 9.0% - 10.5% (9.1%)	Decrease Decrease
Interest-only strips	$	16		Discounted cash flow	Prepayment speed (CPR) Discount rate	19.7% - 39.1% (37.7%) 9.0%	Decrease Decrease
Liabilities:
None

⁽¹⁾ The range is based on the historical estimated fair values and management estimates.

⁽²⁾ Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs in isolation could result in significantly higher or lower fair value measurements.

⁽³⁾ Consist of restructured loans.

⁽⁴⁾ Consist of other non-performing loans, excluding restructured loans.

Schedule of Carrying Amount and Fair Value of Financial Instruments

		June 30, 2019
(In Thousands)		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
Financial assets:
Loans held for investment, not recorded at fair value		$	874,831			$	861,374			$	—			$	—			$	861,374
Investment securities - held to maturity		$	94,090			$	95,359			$	—			$	95,359			$	—
FHLB – San Francisco stock		$	8,199			$	8,199			$	—			$	8,199			$	—
Financial liabilities:
Deposits		$	841,271			$	813,087			$	—			$	—			$	813,087
Borrowings		$	101,107			$	102,826			$	—			$	—			$	102,826

		June 30, 2018
(In Thousands)		Carrying Amount				Fair Value				Level 1				Level 2				Level 3
Financial assets:
Loans held for investment, not recorded at fair value		$	897,451			$	873,112			$	—			$	—			$	873,112
Investment securities - held to maturity		$	87,813			$	87,239			$	—			$	87,239			$	—
FHLB – San Francisco stock		$	8,199			$	8,199			$	—			$	8,199			$	—
Financial liabilities:
Deposits		$	907,598			$	877,641			$	—			$	—			$	877,641
Borrowings		$	126,163			$	123,778			$	—			$	—			$	123,778

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