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Investment Securities | 9 Months Ended
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Mar. 31, 2023
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, 2023 and June 30, 2022, the corresponding amounts of gross unrealized gains recognized in accumulated other comprehensive income and gross unrecognized gains and losses:
|  | March 31, 2023 |
(in thousands) |  | Amortized cost |  |  | Gross unrealized gains |  |  | Gross unrealized losses |  |  | Estimated fair value |
Available-for-sale Securities |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed: residential |  | $ | 13,343 |  |  | $ | – |  |  | $ | 480 |  |  | $ | 12,863 |
Held-to-maturity Securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Agency mortgage-backed: residential |  | $ | 289 |  |  | $ | – |  |  | $ | 16 |  |  | $ | 273 |
|  | June 30, 2022 |
(in thousands) |  | Amortized cost |  |  | Gross unrealized gains |  |  | Gross unrealized 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 |
Our pledged securities (including overnight and time deposits in other financial institutions) totaled $6.2 million and $1.7 million at March 31, 2023 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, and have had values impacted by increased interest rates. 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. As of March 31, 2023: Available-for-Sale
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Losses |  |  | Fair Value |
Less Than 12 Months |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  | $ | 13,343 |  |  | $ | 480 |  |  | $ | 12,863 |
12 Months or More |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  |  | – |  |  |  | – |  |  |  | – |
Total temporarily impaired AFS securities |  | $ | 13,343 |  |  | $ | 480 |  |  | $ | 12,863 |
Held to Maturity
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Losses |  |  | Fair Value |
Less Than 12 Months |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  | $ | – |  |  | $ | – |  |  | $ | – |
12 Months or More |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  |  | 289 |  |  |  | 16 |  |  |  | 273 |
Total temporarily impaired HTM securities |  | $ | 289 |  |  | $ | 16 |  |  | $ | 273 |
As of June 30, 2022: There were no available-for-sale investment securities in an unrealized loss position at June 30, 2022. Held to Maturity
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Losses |  |  | Fair Value |
Less Than 12 Months |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  | $ | 197 |  |  | $ | 15 |  |  | $ | 182 |
12 Months or More |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  |  | 45 |  |  |  | 3 |  |  |  | 42 |
Total temporarily impaired HTM securities |  | $ | 242 |  |  | $ | 18 |  |  | $ | 273 |

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