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Investment Securities (Tables)

12 Months Ended

Jun. 30, 2023

Investment Securities

Schedule of available-for-sale securities reconciliation


					Gross			Gross			Estimated
		Amortized			Unrealized			Unrealized			Fair			Carrying
June 30, 2023		Cost			Gains			(Losses)			Value			Value
(In Thousands)
Held to maturity
U.S. government sponsored enterprise MBS⁽¹⁾		$	149,803		$	—		$	(18,459)		$	131,344		$	149,803
U.S. government sponsored enterprise CMO⁽²⁾			3,883			—			(336)			3,547			3,883
U.S. SBA securities⁽³⁾			651			—			(1)			650			651
Total investment securities - held to maturity			154,337			—			(18,796)			135,541			154,337

Available for sale
U.S. government agency MBS⁽¹⁾			1,417			—			(47)			1,370			1,370
U.S. government sponsored enterprise MBS⁽¹⁾			697			—			(14)			683			683
Private issue CMO⁽²⁾			103			—			(1)			102			102
Total investment securities - available for sale			2,217			—			(62)			2,155			2,155
Total investment securities		$	156,554		$	—		$	(18,858)		$	137,696		$	156,492

(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
Certificates of deposit			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

Schedule of investments with unrealized loss position


As of June 30, 2023		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		$	10,839		$	253		$	120,506		$	18,206		$	131,345		$	18,459
U.S. government sponsored enterprise CMO			—			—			3,547			336			3,547			336
U.S. SBA securities			650		$	1			—			—			650			1
Total investment securities - held to maturity			11,489			254			124,053			18,542			135,542			18,796

Available for sale
U.S government agency MBS			696			20			673			27			1,369			47
U.S. government sponsored enterprise MBS			87			2			558			12			645			14
Private issue CMO			—			—			102			1			102			1
Total investment securities - available for sale			783			22			1,333			40			2,116			62
Total investment securities		$	12,272		$	276		$	125,386		$	18,582		$	137,658		$	18,858


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

Schedule of investments classified by contractual maturity


		June 30, 2023						June 30, 2022
					Estimated						Estimated
		Amortized			Fair			Amortized			Fair
(In Thousands)		Cost			Value			Cost			Value
Held to maturity
Due in one year or less		$	303		$	300		$	1,427		$	1,425
Due after one through five years			7,686			7,365			10,908			10,805
Due after five through ten years			61,043			54,686			77,167			72,625
Due after ten years			85,305			73,190			96,243			86,869
Total investment securities - held to maturity			154,337			135,541			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			590			580			98			98
Due after ten years			1,627			1,575			2,583			2,578
Total investment securities - available for sale			2,217			2,155			2,681			2,676
Total investment securities		$	156,554		$	137,696		$	188,426		$	174,400