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Investment Securities
 9 Months Ended
Mar. 31, 2022
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 March 31, 2022 and June 30, 2021, the corresponding amounts of gross unrealized gains recognized in accumulated other comprehensive income and gross unrecognized gains and losses:

 

   March 31, 2022 
(in thousands)  Amortized
cost		   Gross
unrealized/
unrecognized
gains		   Gross
unrealized/
unrecognized
losses		   Estimated
fair value		 
Available-for-sale Securities                
Agency mortgage-backed: residential  $29   $
     –
   $
       –
   $29 
                     
Held-to-maturity Securities                    
Agency mortgage-backed: residential  $358   $5   $10   $353 

 

   June 30, 2021 
(in thousands)  Amortized
cost		   Gross
unrealized/
unrecognized
gains		   Gross
unrealized/
unrecognized
losses		   Estimated
fair value		 
Available-for-sale Securities                
Agency mortgage-backed: residential  $33   $
       –
   $
       –
   $33 
                     
Held-to-maturity Securities                    
Agency mortgage-backed: residential  $462   $16   $2   $476 

 

Our pledged securities (including overnight and time deposits in other financial institutions) totaled $1.5 million and $1.8 million at March 31, 2022 and June 30, 2021, 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 mortgage-backed securities, 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.