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Investment Securities | 3 Months Ended
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Sep. 30, 2019
Investment Securities |
Investment Securities | Note 4: Investment Securities The amortized cost and estimated fair value of investment securities as of September 30, 2019 and June 30, 2019 were as follows:
|  |  |  |  | Gross |  | Gross |  | Estimated |  |  |
|  | Amortized | Unrealized |  | Unrealized |  | Fair |  | Carrying
September 30, 2019 |  | Cost | Gains |  | (Losses) |  | Value |  | Value
(In Thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored enterprise MBS (1) |  | $ | 81,412 |  | $ | 1,238 |  | $ | (41) |  | $ | 82,609 |  | $ | 81,412
U.S. SBA securities (2) |  |  | 2,876 |  |  | — |  |  | (13) |  |  | 2,863 |  |  | 2,876
Certificate of deposits |  |  | 800 |  |  | — |  |  | — |  |  | 800 |  |  | 800
Total investment securities - held to maturity |  | $ | 85,088 |  | $ | 1,238 |  | $ | (54) |  | $ | 86,272 |  | $ | 85,088
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency MBS |  | $ | 3,303 |  | $ | 110 |  | $ | — |  | $ | 3,413 |  | $ | 3,413
U.S. government sponsored enterprise MBS |  |  | 1,773 |  |  | 78 |  |  | — |  |  | 1,851 |  |  | 1,851
Private issue CMO (3) |  |  | 245 |  |  | 8 |  |  | — |  |  | 253 |  |  | 253
Total investment securities - available for sale |  | $ | 5,321 |  | $ | 196 |  | $ | — |  | $ | 5,517 |  | $ | 5,517
Total investment securities |  | $ | 90,409 |  | $ | 1,434 |  | $ | (54) |  | $ | 91,789 |  | $ | 90,605
| (1) |  | Mortgage-Backed Securities ("MBS").
| (2) |  | Small Business Administration ("SBA").
| (3) |  | Collateralized Mortgage Obligations ("CMO").
|  |  |  |  | Gross |  | Gross |  | Estimated |  |  |
|  | Amortized | Unrealized |  | Unrealized |  | Fair |  | Carrying
June 30, 2019 |  | Cost | Gains |  | (Losses) |  | Value |  | 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 |  |  | 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 |  |  | 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
In the first quarters of fiscal 2020 and 2019, the Corporation received MBS principal payments of $9.3 million and $8.3 million, respectively, and there were no sales or purchases of investment securities during these periods. The Corporation held investments with an unrealized loss position of $54,000 at September 30, 2019 and $21,000 at June 30, 2019.
|  | Unrealized Holding |  | Unrealized Holding |  | Unrealized Holding
As of September 30, 2019 |  | Losses |  | Losses |  | 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 |  | $ | 7,312 |  | $ | 39 |  | $ | 1,478 |  | $ | 2 |  | $ | 8,790 |  | $ | 41
U.S. SBA securities |  |  | — |  | $ | — |  |  | 2,855 |  |  | 13 |  |  | 2,855 |  |  | 13
Total investment securities |  | $ | 7,312 |  | $ | 39 |  | $ | 4,333 |  | $ | 15 |  | $ | 11,645 |  | $ | 54
|  | Unrealized Holding |  | Unrealized Holding |  | Unrealized Holding
As of June 30, 2019 |  | Losses |  | Losses |  | 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
The Corporation evaluates individual investment securities quarterly for other-than-temporary declines in market value. At September 30, 2019, $15,000 of the $54,000 unrealized holding losses were 12 months or more; while at June 30, 2019, $12,000 of the $21,000 unrealized holding losses were 12 months or more. The Corporation does not believe that there were any other-than-temporary impairments on the investment securities at September 30, 2019 and 2018; therefore, no impairment losses were recorded for the quarters ended September 30, 2019 and 2018. Contractual maturities of investment securities as of September 30, 2019 and June 30, 2019 were as follows:
|  | September 30, 2019 |  | June 30, 2019
|  |  |  |  | Estimated |  |  |  |  | Estimated
|  | Amortized |  | Fair |  | Amortized |  | Fair
(In Thousands) |  | Cost |  | Value |  | Cost |  | Value
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |
Due in one year or less |  | $ | 800 |  | $ | 800 |  | $ | 400 |  | $ | 400
Due after one through five years |  |  | 28,616 |  |  | 28,734 |  |  | 32,584 |  |  | 32,728
Due after five through ten years |  |  | 32,703 |  |  | 33,447 |  |  | 35,306 |  |  | 36,090
Due after ten years |  |  | 22,969 |  |  | 23,291 |  |  | 25,800 |  |  | 26,141
Total investment securities - held to maturity |  | $ | 85,088 |  | $ | 86,272 |  | $ | 94,090 |  | $ | 95,359
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 |  |  | 5,321 |  |  | 5,517 |  |  | 5,757 |  |  | 5,969
Total investment securities - available for sale |  | $ | 5,321 |  | $ | 5,517 |  | $ | 5,757 |  | $ | 5,969
Total investment securities |  | $ | 90,409 |  | $ | 91,789 |  | $ | 99,847 |  | $ | 101,328

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