Investment Securities

3 Months Ended

Sep. 30, 2017

3. Investment Securities

The following table summarizes the amortized cost and fair value of securities available-for-sale and securities held-to-maturity at September 30, 2017 and June 30, 2017, the corresponding amounts of gross unrealized gains recognized in accumulated other comprehensive income and gross unrecognized gains and losses:

	September 30, 2017
*(in thousands)*	Amortized cost		Gross unrealized/ unrecognized gains		Gross unrealized/ unrecognized losses		Estimated fair value

Available-for-sale Securities
Agency mortgage-backed: residential	$	69	$	1	$	--	$	70

Held-to-maturity Securities
Agency mortgage-backed: residential	$	1,368	$	42	$	8	$	1,402

	June 30, 2017
(in thousands)	Amortized cost		Gross unrealized/ unrecognized gains		Gross unrealized/ unrecognized losses		Estimated fair value

Available-for-sale Securities
Agency mortgage-backed: residential	$	70	$	1	$	--	$	71

Held-to-maturity Securities
Agency mortgage-backed: residential	$	1,487	$	45	$	9	$	1,523

At September 30, 2017, the Company’s debt securities consist of mortgage-backed securities, which do not have a single maturity date. The amortized cost and fair value of held-to-maturity debt securities are shown by contractual maturity. Securities not due at a single maturity date are shown separately.

	September 30, 2017
(in thousands)	Amortized Cost		Fair Value

Held-to-maturity Securities
Agency mortgage-backed: residential	$	1,368	$	1,402

Our pledged securities (including overnight and time deposits in other financial institutions) totaled $2.2 million and $2.3 million at September 30 and June 30, 2017, respectively.

We evaluated securities in unrealized loss positions for evidence of other-than-temporary impairment, considering duration, severity, financial condition of the issuer, our intention to sell or requirement to sell. Those securities were agency bonds, which carry a very limited amount of risk. Also, we have no intention to sell nor feel that we will be compelled to sell such securities before maturity. Based on our evaluation, no impairment has been recognized through earnings.