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Investment Securities | 3 Months Ended
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Sep. 30, 2021
Investment Securities |
Investment Securities | Note 4: Investment Securities The amortized cost and estimated fair value of investment securities as of September 30, 2021 and June 30, 2021 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  |  | ​ |  | Gross |  | Gross |  | Estimated |  | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair | ​ | Carrying
September 30, 2021 | ​ | Cost | ​ | Gains | ​ | (Losses) | ​ | Value | ​ | Value
(In Thousands) |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Held to maturity |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. government sponsored enterprise MBS(1) | ​ | $ | 203,749 | ​ | $ | 1,689 | ​ | $ | (1,101) | ​ | $ | 204,337 | ​ | $ | 203,749
U.S. SBA securities(2) | ​ |  | 1,272 | ​ |  | 11 | ​ |  | — | ​ |  | 1,283 | ​ |  | 1,272
Certificate of deposits | ​ |  | 800 | ​ |  | — | ​ |  | — | ​ |  | 800 | ​ |  | 800
Total investment securities - held to maturity | ​ | $ | 205,821 | ​ | $ | 1,700 | ​ | $ | (1,101) | ​ | $ | 206,420 | ​ | $ | 205,821
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Available for sale | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S. government agency MBS | ​ | $ | 1,993 | ​ | $ | 69 | ​ | $ | — | ​ | $ | 2,062 | ​ | $ | 2,062
U.S. government sponsored enterprise MBS | ​ |  | 1,091 | ​ |  | 13 | ​ |  | — | ​ |  | 1,104 | ​ |  | 1,104
Private issue CMO(3) | ​ |  | 147 | ​ |  | 3 | ​ |  | — | ​ |  | 150 | ​ |  | 150
Total investment securities - available for sale | ​ | $ | 3,231 | ​ | $ | 85 | ​ | $ | — | ​ | $ | 3,316 | ​ | $ | 3,316
Total investment securities | ​ | $ | 209,052 | ​ | $ | 1,785 | ​ | $ | (1,101) | ​ | $ | 209,736 | ​ | $ | 209,137
​ (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, 2021 | ​ | Cost | ​ | Gains | ​ | (Losses) | ​ | Value | ​ | Value
(In Thousands) |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Held to maturity |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. government sponsored enterprise MBS | ​ | $ | 220,448 | ​ | $ | 2,209 | ​ | $ | (810) | ​ | $ | 221,847 | ​ | $ | 220,448
U.S. SBA securities | ​ |  | 1,858 | ​ |  | 16 | ​ |  | — | ​ |  | 1,874 | ​ |  | 1,858
Certificate of deposits | ​ |  | 1,000 | ​ |  | — | ​ |  | — | ​ |  | 1,000 | ​ |  | 1,000
Total investment securities - held to maturity | ​ | $ | 223,306 | ​ | $ | 2,225 | ​ | $ | (810) | ​ | $ | 224,721 | ​ | $ | 223,306
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Available for sale | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S. government agency MBS | ​ | $ | 2,146 | ​ | $ | 76 | ​ | $ | — | ​ | $ | 2,222 | ​ | $ | 2,222
U.S. government sponsored enterprise MBS | ​ |  | 1,197 | ​ |  | 14 | ​ |  | — | ​ |  | 1,211 | ​ |  | 1,211
Private issue CMO | ​ |  | 151 | ​ |  | 3 | ​ |  | — | ​ |  | 154 | ​ |  | 154
Total investment securities - available for sale | ​ | $ | 3,494 | ​ | $ | 93 | ​ | $ | — | ​ | $ | 3,587 | ​ | $ | 3,587
Total investment securities | ​ | $ | 226,800 | ​ | $ | 2,318 | ​ | $ | (810) | ​ | $ | 228,308 | ​ | $ | 226,893
​ In the first quarter of fiscal 2022 and 2021, the Corporation received MBS principal payments of $17.0 million and $9.4 million, respectively, and there were no sales of investment securities during these periods. The Corporation did not purchase any investment securities in the first quarter of fiscal 2022 but purchased $84.9 million of U.S. government sponsored enterprise MBS to be held to maturity in the first quarter of fiscal 2021. The Corporation held investments with an unrealized loss position of $1.1 million at September 30, 2021 and $810,000 at June 30, 2021. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of September 30, 2021 | ​ | 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 | ​ | $ | 119,650 | ​ | $ | 746 | ​ | $ | 8,787 | ​ | $ | 355 | ​ | $ | 128,437 | ​ | $ | 1,101
Total investment securities - held to maturity | ​ | $ | 119,650 | ​ | $ | 746 | ​ | $ | 8,787 | ​ | $ | 355 | ​ | $ | 128,437 | ​ | $ | 1,101
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total investment securities | ​ | $ | 119,650 | ​ | $ | 746 | ​ | $ | 8,787 | ​ | $ | 355 | ​ | $ | 128,437 | ​ | $ | 1,101
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of June 30, 2021 | ​ | 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 | ​ | $ | 84,600 | ​ | $ | 810 | ​ | $ | — | ​ | $ | — | ​ | $ | 84,600 | ​ | $ | 810
U.S. SBA securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total investment securities - held to maturity | ​ | $ | 84,600 | ​ | $ | 810 | ​ | $ | — | ​ | $ | — | ​ | $ | 84,600 | ​ | $ | 810
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total investment securities | ​ | $ | 84,600 | ​ | $ | 810 | ​ | $ | — | ​ | $ | — | ​ | $ | 84,600 | ​ | $ | 810
​ The Corporation evaluates individual investment securities quarterly for other-than-temporary declines in market value. At September 30, 2021, $355,000 of the $1.1 million of unrealized holding losses were 12 months or more; while at June 30, 2021, none of the $810,000 of unrealized holding losses were 12 months or more. The unrealized losses on investment securities were attributable to changes in interest rates, relative to when the investment securities were purchased, and not due to the credit quality of the investment securities. At September 30, 2021 and 2020, the Corporation did not have any investment securities with the intent to sell and determined it was more likely than not that the Corporation would not be required to sell the securities prior to recovery of the amortized cost basis; therefore, no impairment losses were recorded for the quarter ended September 30, 2021 and 2020. ​ Contractual maturities of investment securities as of September 30, 2021 and June 30, 2021 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2021 | ​ | June 30, 2021
​ |  | ​ | ​ |  | Estimated |  | ​ | ​ |  | Estimated
​ | ​ | Amortized | ​ | Fair | ​ | Amortized | ​ | Fair
(In Thousands) | ​ | Cost | ​ | Value | ​ | Cost | ​ | Value
Held to maturity |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Due in one year or less | ​ | $ | 1,136 | ​ | $ | 1,152 | ​ | $ | 1,209 | ​ | $ | 1,218
Due after one through five years | ​ |  | 13,141 | ​ |  | 13,696 | ​ |  | 14,544 | ​ |  | 15,179
Due after five through ten years | ​ |  | 82,772 | ​ |  | 83,286 | ​ |  | 90,798 | ​ |  | 91,780
Due after ten years | ​ |  | 108,772 | ​ |  | 108,286 | ​ |  | 116,755 | ​ |  | 116,544
Total investment securities - held to maturity | ​ | $ | 205,821 | ​ | $ | 206,420 | ​ | $ | 223,306 | ​ | $ | 224,721
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
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 | ​ |  | 3,231 | ​ |  | 3,316 | ​ |  | 3,494 | ​ |  | 3,587
Total investment securities - available for sale | ​ | $ | 3,231 | ​ | $ | 3,316 | ​ | $ | 3,494 | ​ | $ | 3,587
Total investment securities | ​ | $ | 209,052 | ​ | $ | 209,736 | ​ | $ | 226,800 | ​ | $ | 228,308
​

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- 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 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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