XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.19.1

Investment Securities | 9 Months Ended
--- | ---
Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Note 5: Investment Securities The amortized cost and estimated fair value of investment securities as of March 31, 2019 and June 30, 2018 were as follows:
March 31, 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 (1) |  | $ | 99,193 |  |  | $ | 728 |  |  | $ | (163 | ) |  | $ | 99,758 |  |  | $ | 99,193 |
U.S. SBA securities (2) |  |  | 2,917 |  |  |  | — |  |  |  | (19 | ) |  |  | 2,898 |  |  |  | 2,917 |
Certificate of deposits |  |  | 400 |  |  |  | — |  |  |  | — |  |  |  | 400 |  |  |  | 400 |
Total investment securities - held to maturity |  | $ | 102,510 |  |  | $ | 728 |  |  | $ | (182 | ) |  | $ | 103,056 |  |  | $ | 102,510 |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency MBS |  | $ | 3,677 |  |  | $ | 119 |  |  | $ | — |  |  | $ | 3,796 |  |  | $ | 3,796 |
U.S. government sponsored enterprise MBS |  |  | 2,107 |  |  |  | 91 |  |  |  | — |  |  |  | 2,198 |  |  |  | 2,198 |
Private issue CMO (3) |  |  | 296 |  |  |  | 4 |  |  |  | — |  |  |  | 300 |  |  |  | 300 |
Total investment securities - available for sale |  | $ | 6,080 |  |  | $ | 214 |  |  | $ | — |  |  | $ | 6,294 |  |  | $ | 6,294 |
Total investment securities |  | $ | 108,590 |  |  | $ | 942 |  |  | $ | (182 | ) |  | $ | 109,350 |  |  | $ | 108,804 |
(1) | Mortgage-Backed Securities ("MBS").
(2) | Small Business Administration ("SBA").
(3) | 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 |  |  | 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 |  |  | 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 |
In the third quarters of fiscal 2019 and 2018, the Corporation received MBS principal payments of $8.6 million and $7.4 million, respectively, and there were no sales of investment securities during these periods. The Corporation purchased U.S. government sponsored enterprise MBS totaling $26.2 million and $12.4 million, to be held to maturity, respectively. For the first nine months of fiscal 2019 and 2018, the Corporation received MBS principal payments of $25.2 million and $19.1 million, respectively, and there were no sales of investment securities during these periods. In the first nine months of fiscal 2019 and 2018, the Corporation purchased U.S. government sponsored enterprise MBS totaling $39.7 million and $50.9 million, to be held to maturity, respectively. In addition, the Corporation also purchased $3.0 million in U.S. SBA loan pool securities to be held to maturity in the third quarter and first nine months of fiscal 2018. The Corporation held investments with an unrealized loss position of $182,000 at March 31, 2019 and $777,000 at June 30, 2018.
As of March 31, 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 |  | $ | — |  |  | $ | — |  |  | $ | 26,758 |  |  | $ | 163 |  |  | $ | 26,758 |  |  | $ | 163 |
U.S. SBA securities |  |  | 2,892 |  |  |  | 19 |  |  |  | — |  |  |  | — |  |  |  | 2,892 |  |  |  | 19 |
Total investment securities |  | $ | 2,892 |  |  | $ | 19 |  |  | $ | 26,758 |  |  | $ | 163 |  |  | $ | 29,650 |  |  | $ | 182 |
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 |
The Corporation evaluates individual investment securities quarterly for other-than-temporary declines in market value. At March 31, 2019, $163,000 of the $182,000 unrealized holding losses were 12 months or more; while at June 30, 2018, all of the unrealized holding losses were less than 12 months. The Corporation does not believe that there were any other-than-temporary impairments on the investment securities at March 31, 2019 and 2018; therefore, no impairment losses were recorded for the quarters and nine months ended March 31, 2019 and 2018. Contractual maturities of investment securities as of March 31, 2019 and June 30, 2018 were as follows:
|  | March 31, 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 |  | $ | 200 |  |  | $ | 200 |  |  | $ | 600 |  |  | $ | 600 |
Due after one through five years |  |  | 35,345 |  |  |  | 35,259 |  |  |  | 24,961 |  |  |  | 24,569 |
Due after five through ten years |  |  | 38,691 |  |  |  | 39,126 |  |  |  | 22,847 |  |  |  | 22,477 |
Due after ten years |  |  | 28,274 |  |  |  | 28,471 |  |  |  | 39,405 |  |  |  | 39,593 |
Total investment securities - held to maturity |  | $ | 102,510 |  |  | $ | 103,056 |  |  | $ | 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 |  |  | 6,080 |  |  |  | 6,294 |  |  |  | 7,220 |  |  |  | 7,496 |
Total investment securities - available for sale |  | $ | 6,080 |  |  | $ | 6,294 |  |  | $ | 7,220 |  |  | $ | 7,496 |
Total investment securities |  | $ | 108,590 |  |  | $ | 109,350 |  |  | $ | 95,033 |  |  | $ | 94,735 |

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration