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Investment Securities | 3 Months Ended
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Sep. 30, 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 September 30, 2022 and June 30, 2022, the corresponding amounts of gross unrealized gains recognized in accumulated other comprehensive income and gross unrecognized gains and losses:
|  | September 30, 2022 |
(in thousands) |  | Amortized cost |  |  | Gross unrealized gains |  |  | Gross unrealized losses |  |  | Estimated fair value |
Available-for-sale Securities |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed: residential |  | $ | 14,724 |  |  | $ | 1 |  |  | $ | 574 |  |  | $ | 14,151 |
Held-to-maturity Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed: residential |  | $ | 321 |  |  | $ | – |  |  | $ | 19 |  |  | $ | 302 |
|  | June 30, 2022 |
(in thousands) |  | Amortized cost |  |  | Gross unrealized/ unrecognized gains |  |  | Gross unrealized/ unrecognized losses |  |  | Estimated fair value |
Available-for-sale Securities |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed: residential |  | $ | 10,477 |  |  | $ | – |  |  | $ | – |  |  | $ | 10,477 |
Held-to-maturity Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed: residential |  | $ | 339 |  |  | $ | 2 |  |  | $ | 18 |  |  | $ | 323 |
At September 30, 2022 and June 30, 2022 the Company’s debt securities consisted of mortgage-backed securities, which do not have a single maturity date. 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. Our pledged securities (including overnight and time deposits in other financial institutions) totaled $6.8 million and $1.7 million at September 30, 2021 and June 30, 2022, 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. The following table provides the amortized cost, gross unrealized losses, fair value, and length of time the individual securities have been in a continuous unrealized loss position as of September 30, 2022. Available-for-Sale
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Losses |  |  | Fair Value |
Less Than 12 Months |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  | $ | 14,721 |  |  | $ | 574 |  |  | $ | 14,147 |
12 Months or More |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  |  | 5 |  |  |  | 1 |  |  |  | 4 |
Total temporarily impaired AFS securities |  | $ | 14,726 |  |  | $ | 575 |  |  | $ | 14,151 |
Held to Maturity
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Losses |  |  | Fair Value |
Less Than 12 Months |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  | $ | 261 |  |  | $ | 16 |  |  | $ | 245 |
12 Months or More |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  |  | 44 |  |  |  | 3 |  |  |  | 41 |
Total temporarily impaired HTM securities |  | $ | 305 |  |  | $ | 19 |  |  | $ | 286 |

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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