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Investment Securities
 6 Months Ended
Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]  
Investment Securities

3. Investment Securities

 

The following table summarizes the amortized cost and fair value of securities available-for-sale and securities held-to-maturity at December 31, 2018 and June 30, 2018, the corresponding amounts of gross unrealized gains recognized in accumulated other comprehensive income and gross unrecognized gains and losses:

 

   December 31, 2018 
(in thousands)  Amortized
cost		   Gross unrealized/ unrecognized gains   Gross unrealized/ unrecognized losses   Estimated fair value 
                 
Available-for-sale Securities                
Agency mortgage-backed: residential  $44   $--   $--   $44 
Agency bonds   501    2    --    503 
   $545   $2   $--   $547 
                     
Held-to-maturity Securities                    
Agency mortgage-backed: residential  $857   $12   $22   $847 

 

   June 30, 2018 
(in thousands)  Amortized
cost		   Gross unrealized/ unrecognized gains   Gross unrealized/ unrecognized losses   Estimated fair value 
                 
Available-for-sale Securities                
Agency mortgage-backed: residential  $48   $--   $--   $48 
                     
Held-to-maturity Securities                    
Agency mortgage-backed: residential  $1,002   $19   $23   $998 

 

At December 31, 2018, the Company’s debt securities consist of an agency bond with an amortized cost of $501,000 and fair value of $503,000, which matures in 2020 and mortgage-backed securities, which do not have a single maturity date.

 

Our pledged securities (including overnight and time deposits in other financial institutions) totaled $2.1 million at both December 31 and June 30, 2018.

 

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.