XML 19 R12.htm IDEA: XBRL DOCUMENT v3.19.3
Investment Securities
 3 Months Ended
Sep. 30, 2019
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 September 30, 2019 and June 30, 2019, the corresponding amounts of gross unrealized gains recognized in accumulated other comprehensive income and gross unrecognized gains and losses:

 

   September 30, 2019 
(in thousands)  Amortized
cost		   Gross
unrealized/
unrecognized
gains		   Gross
unrealized/
unrecognized
losses		   Estimated
fair value		 
                 
Available-for-sale Securities                
U.S. Treasury securities  $499   $--   $--   $499 
Agency bonds   501    4    --    505 
Agency mortgage-backed: residential   42    --    --    42 
   $1,042   $4   $--   $1,046 
                     
Held-to-maturity Securities                    
Agency mortgage-backed: residential  $680   $13   $7   $686 

 

   June 30, 2019 
(in thousands)  Amortized
cost		   Gross
unrealized/
unrecognized
gains		   Gross
unrealized/
unrecognized
losses		   Estimated
fair value		 
                 
Available-for-sale Securities                
U.S. Treasury securities  $496   $1   $--   $497 
Agency bonds   501    4         505 
Agency mortgage-backed: residential   43    --    --    43 
   $1,040   $5   $--   $1,045 
                     
Held-to-maturity Securities                    
Agency mortgage-backed: residential  $775   $14   $14   $775 

 

At September 30, 2019, the Company's debt securities consisted of a single U.S. Treasury note, a single agency bond, and mortgage-backed securities, which do not have a single maturity date.

  

The amortized cost and estimated fair value of securities as of September 30, 2019, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities, because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities without a single maturity, primarily mortgage-backed securities, are not shown.

  

(in thousands)  Amortized Cost   Fair Value 
Available for sale:          
Within one year  $997   $1,002 

  

Our pledged assets (including overnight and time deposits in other financial institutions) totaled $2.0 million and $2.1 million at September 30, and June 30, 2019, 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.