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Investment Securities | 3 Months Ended
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Sep. 30, 2022
Investment Securities |
Investment Securities | Note 4: Investment Securities The amortized cost and estimated fair value of investment securities as of September 30, 2022 and June 30, 2022 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  |  | ​ |  | Gross |  | Gross |  | Estimated |  | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair | ​ | Carrying
September 30, 2022 | ​ | Cost | ​ | Gains | ​ | (Losses) | ​ | Value | ​ | Value
(In Thousands) |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Held to maturity |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. government sponsored enterprise MBS(1) | ​ | $ | 171,331 | ​ | $ | 6 | ​ | $ | (21,346) | ​ | $ | 149,991 | ​ | $ | 171,331
U.S. government sponsored enterprise CMO(2) | ​ | ​ | 3,911 | ​ | ​ | — | ​ | ​ | (317) | ​ | ​ | 3,594 | ​ | ​ | 3,911
U.S. SBA securities(3) | ​ |  | 720 | ​ |  | 1 | ​ |  | — | ​ |  | 721 | ​ |  | 720
Certificate of deposits | ​ |  | 200 | ​ |  | — | ​ |  | — | ​ |  | 200 | ​ |  | 200
Total investment securities - held to maturity | ​ | $ | 176,162 | ​ | $ | 7 | ​ | $ | (21,663) | ​ | $ | 154,506 | ​ | $ | 176,162
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Available for sale | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S. government agency MBS | ​ | $ | 1,629 | ​ | $ | — | ​ | $ | (19) | ​ | $ | 1,610 | ​ | $ | 1,610
U.S. government sponsored enterprise MBS | ​ | ​ | 808 | ​ | ​ | 2 | ​ | ​ | (10) | ​ | ​ | 800 | ​ |  | 800
Private issue CMO | ​ |  | 112 | ​ |  | — | ​ |  | (5) | ​ |  | 107 | ​ |  | 107
Total investment securities - available for sale | ​ | $ | 2,549 | ​ | $ | 2 | ​ | $ | (34) | ​ | $ | 2,517 | ​ | $ | 2,517
Total investment securities | ​ | $ | 178,711 | ​ | $ | 9 | ​ | $ | (21,697) | ​ | $ | 157,023 | ​ | $ | 178,679
​ (1)Mortgage-Backed Securities (“MBS”). (2)Collateralized Mortgage Obligations (“CMO”). (3)Small Business Administration (“SBA”). ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  |  | ​ |  | Gross |  | Gross |  | Estimated |  | ​ | ​
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | Fair | ​ | Carrying
June 30, 2022 | ​ | Cost | ​ | Gains | ​ | (Losses) | ​ | Value | ​ | Value
(In Thousands) |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Held to maturity |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
U.S. government sponsored enterprise MBS | ​ | $ | 180,492 | ​ | $ | 63 | ​ | $ | (13,945) | ​ | $ | 166,610 | ​ | $ | 180,492
U.S. government sponsored enterprise CMO | ​ | ​ | 3,913 | ​ | ​ | — | ​ | ​ | (150) | ​ | ​ | 3,763 | ​ | ​ | 3,913
U.S. SBA securities | ​ |  | 940 | ​ |  | 11 | ​ |  | — | ​ |  | 951 | ​ |  | 940
Certificate of deposits | ​ |  | 400 | ​ |  | — | ​ |  | — | ​ |  | 400 | ​ |  | 400
Total investment securities - held to maturity | ​ | $ | 185,745 | ​ | $ | 74 | ​ | $ | (14,095) | ​ | $ | 171,724 | ​ | $ | 185,745
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Available for sale | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
U.S. government agency MBS | ​ | $ | 1,698 | ​ | $ | 6 | ​ | $ | (6) | ​ | $ | 1,698 | ​ | $ | 1,698
U.S. government sponsored enterprise MBS | ​ |  | 865 | ​ |  | 4 | ​ |  | (4) | ​ |  | 865 | ​ |  | 865
Private issue CMO | ​ |  | 118 | ​ |  | — | ​ |  | (5) | ​ |  | 113 | ​ |  | 113
Total investment securities - available for sale | ​ | $ | 2,681 | ​ | $ | 10 | ​ | $ | (15) | ​ | $ | 2,676 | ​ | $ | 2,676
Total investment securities | ​ | $ | 188,426 | ​ | $ | 84 | ​ | $ | (14,110) | ​ | $ | 174,400 | ​ | $ | 188,421
​ In the first quarter of fiscal 2023 and 2022, the Corporation received MBS principal payments of $9.3 million and $17.0 million, respectively, and there were no sales of investment securities during these periods. The Corporation did not purchase or sell any investment securities in the first quarter of fiscal 2023 and 2022. ​ The Corporation held investments with an unrealized loss position of $21.7 million at September 30, 2022 and $14.1 million at June 30, 2022. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of September 30, 2022 | ​ | 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 | ​ | $ | 45,920 | ​ | $ | 4,527 | ​ | $ | 100,612 | ​ | $ | 16,819 | ​ | $ | 146,532 | ​ | $ | 21,346
U.S. government sponsored enterprise CMO | ​ | ​ | 3,594 | ​ | ​ | 317 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,594 | ​ | ​ | 317
Total investment securities - held to maturity | ​ | $ | 49,514 | ​ | $ | 4,844 | ​ | $ | 100,612 | ​ | $ | 16,819 | ​ | $ | 150,126 | ​ | $ | 21,663
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S government agency MBS | ​ | $ | 1,412 | ​ | $ | 19 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,412 | ​ | $ | 19
U.S. government sponsored enterprise MBS | ​ | ​ | 659 | ​ | ​ | 10 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 659 | ​ | ​ | 10
Private issue CMO | ​ | ​ | 107 | ​ | ​ | 5 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 107 | ​ | ​ | 5
Total investment securities - available for sale | ​ | $ | 2,178 | ​ | $ | 34 | ​ | $ | — | ​ | $ | — | ​ | $ | 2,178 | ​ | $ | 34
Total investment securities | ​ | $ | 51,692 | ​ | $ | 4,878 | ​ | ​ | 100,612 | ​ | $ | 16,819 | ​ | $ | 152,304 | ​ | $ | 21,697
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of June 30, 2022 | ​ | 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 | ​ | $ | 121,844 | ​ | $ | 9,018 | ​ | $ | 35,528 | ​ | $ | 4,927 | ​ | $ | 157,372 | ​ | $ | 13,945
U.S. government sponsored enterprise CMO | ​ | ​ | 3,764 | ​ | ​ | 150 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,764 | ​ | ​ | 150
Total investment securities - held to maturity | ​ | $ | 125,608 | ​ | $ | 9,168 | ​ | $ | 35,528 | ​ | $ | 4,927 | ​ | $ | 161,136 | ​ | $ | 14,095
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Available for sale | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S government agency MBS | ​ | $ | 826 | ​ | $ | 6 | ​ | $ | — | ​ | $ | — | ​ | $ | 826 | ​ | $ | 6
U.S. government sponsored enterprise MBS | ​ | ​ | 671 | ​ | ​ | 4 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 671 | ​ | ​ | 4
Private issue CMO | ​ | ​ | 113 | ​ | ​ | 5 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 113 | ​ | ​ | 5
Total investment securities - available for sale | ​ | $ | 1,610 | ​ | $ | 15 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,610 | ​ | $ | 15
Total investment securities | ​ | $ | 127,218 | ​ | $ | 9,183 | ​ | $ | 35,528 | ​ | $ | 4,927 | ​ | $ | 162,746 | ​ | $ | 14,110
​ The Corporation evaluates individual investment securities quarterly for other-than-temporary impairment in market value. At September 30, 2022, $16.8 million of the $21.7 million of unrealized holding losses were 12 months or more; while at June 30, 2022, $4.9 million of the $14.1 million 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, 2022 and 2021, the Corporation did not hold 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 quarters ended September 30, 2022 and 2021. ​ Contractual maturities of investment securities as of September 30, 2022 and June 30, 2022 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2022 | ​ | June 30, 2022
​ |  | ​ | ​ |  | Estimated |  | ​ | ​ |  | Estimated
​ | ​ | Amortized | ​ | Fair | ​ | Amortized | ​ | Fair
(In Thousands) | ​ | Cost | ​ | Value | ​ | Cost | ​ | Value
Held to maturity |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Due in one year or less | ​ | $ | 1,212 | ​ | $ | 1,205 | ​ | $ | 1,427 | ​ | $ | 1,425
Due after one through five years | ​ |  | 9,107 | ​ |  | 8,806 | ​ |  | 10,908 | ​ |  | 10,805
Due after five through ten years | ​ |  | 73,049 | ​ |  | 65,351 | ​ |  | 77,167 | ​ |  | 72,625
Due after ten years | ​ |  | 92,794 | ​ |  | 79,144 | ​ |  | 96,243 | ​ |  | 86,869
Total investment securities - held to maturity | ​ | $ | 176,162 | ​ | $ | 154,506 | ​ | $ | 185,745 | ​ | $ | 171,724
​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Available for sale | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Due in one year or less | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Due after one through five years | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Due after five through ten years | ​ |  | 202 | ​ |  | 200 | ​ |  | 98 | ​ |  | 98
Due after ten years | ​ |  | 2,347 | ​ |  | 2,317 | ​ |  | 2,583 | ​ |  | 2,578
Total investment securities - available for sale | ​ | $ | 2,549 | ​ | $ | 2,517 | ​ | $ | 2,681 | ​ | $ | 2,676
Total investment securities | ​ | $ | 178,711 | ​ | $ | 157,023 | ​ | $ | 188,426 | ​ | $ | 174,400
​

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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 https://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 https://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 https://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 https://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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