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Derivative and Other Financial Instruments with Off-Balance Sheet Risks (Tables)
 3 Months Ended
Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Undisbursed Funds Commitments
The following table provides information at the dates indicated regarding undisbursed funds to borrowers on existing lines of credit with the Corporation as well as commitments to originate loans to be held for investment at the dates indicated below.

Commitments
September 30,
2013
June 30,
2013
(In Thousands)
 
 
 
 
 
Undisbursed loan funds - Construction loans
$
271

$
292

Undisbursed lines of credit – Mortgage loans
788

774

Undisbursed lines of credit – Commercial business loans
1,049

952

Undisbursed lines of credit – Consumer loans
767

779

Commitments to extend credit on loans to be held for investment
2,435

6,872

Total
$
5,310

$
9,669
Schedule of Allowance for Loan Losses of Undisbursed Funds and Commitments on Loans Held for Investment
The following table provides information regarding the allowance for loan losses for the undisbursed funds and commitments to extend credit on loans to be held for investment for the quarters ended September 30, 2013 and 2012.

 
For the Quarters
Ended
September 30,
(In Thousands)
2013
2012
Balance, beginning of the period
$
115

$
66

Recovery
(26
)
—

Balance, end of the period
$
89

$
66
Schedule of Impact of Derivative Financial Instruments on Gain on Sale of Loans
The net impact of derivative financial instruments on the gain on sale of loans contained in the Condensed Consolidated Statements of Operations during the quarters ended September 30, 2013 and 2012 was as follows:

 
For the Quarters
Ended
September 30,
Derivative Financial Instruments
2013
2012
(In Thousands)
 
 
Commitments to extend credit on loans to be held for sale
$
4,397

$
4,389

Mandatory loan sale commitments and TBA MBS trades
(11,248
)
(4,658
)
Option contracts
108

(262
)
Total
$
(6,743
)
$
(531
)
Schedule of Outstanding Derivative Instruments
The outstanding derivative financial instruments at the dates indicated were as follows:

 
September 30, 2013
 
June 30, 2013
Derivative Financial Instruments
Amount
Fair
Value
 
Amount
Fair
Value
(In Thousands)
 
 
 
 
 
Commitments to extend credit on loans to be held for sale (1)
$
135,341

$
3,365

 
$
255,635

$
(1,032
)
Best efforts loan sale commitments
(12,565
)
—

 
(29,847
)
—

Mandatory loan sale commitments and TBA MBS trades
(293,381
)
(4,443
)
 
(410,897
)
6,805

Option contracts
(10,000
)
82

 
(10,000
)
589

Total
$
(180,605
)
$
(996
)
 
$
(195,109
)
$
6,362


(1) 
Net of 26.6% percent at September 30, 2013 and 23.6% percent at June 30, 2013 of commitments which management has estimated may not fund.