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Derivative and Other Financial Instruments with Off-Balance Sheet Risks (Tables)
 6 Months Ended
Dec. 31, 2017
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
December 31, 2017
June 30, 2017
(In Thousands)
 
 
 
 
 
Undisbursed loan funds – Construction loans
$
7,358

$
9,015

Undisbursed lines of credit – Commercial business loans
559

646

Undisbursed lines of credit – Consumer loans
525

562

Commitments to extend credit on loans to be held for investment
9,702

19,119

Total
$
18,144

$
29,342
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 and six months ended December 31, 2017 and 2016.
 
For the Quarters Ended  
 December 31,
For the Six Months
Ended
December 31,
(In Thousands)
2017
2016
2017
2016
Balance, beginning of the period
$
213

$
173

$
277

$
204

Recovery
(25
)
—

(89
)
(31
)
Balance, end of the period
$
188

$
173

$
188

$
173
Schedule of Impact of Derivative Financial Instruments on Gain on Sale of Loans
The net impact of derivative financial instruments is recorded within the gain on sale of loans contained in the Condensed Consolidated Statements of Operations during the quarters and six months ended December 31, 2017 and 2016 were as follows:
 
For the Quarters Ended  
 December 31,
 For the Six Months
Ended
December 31,
Derivative Financial Instruments
2017
2016
2017
2016
(In Thousands)
 
 
 
 
Commitments to extend credit on loans to be held for sale
$
29

$
(1,098
)
$
(93
)
$
(2,309
)
Mandatory loan sale commitments and TBA MBS trades
(582
)
1,068

(791
)
2,865

Option contracts, net
—

366

(37
)
344

Total net (loss) gain
$
(553
)
$
336

$
(921
)
$
900
Schedule of Outstanding Derivative Instruments
The outstanding derivative financial instruments and other loan sale agreements at the dates indicated were as follows:
 
December 31, 2017
 
June 30, 2017
Derivative Financial Instruments
Amount
Fair
Value
 
Amount
Fair
Value
(In Thousands)
 
 
 
 
 
Commitments to extend credit on loans to be held for sale (1)
$
48,032

$
716

 
$
92,726

$
809

Best efforts loan sale commitments
(12,890
)
—

 
(17,225
)
—

Mandatory loan sale commitments and TBA MBS trades
(121,575
)
(205
)
 
(179,777
)
586

Option contracts, net
—

—

 
(3,000
)
37

Total
$
(86,433
)
$
511

 
$
(107,276
)
$
1,432


(1) 
Net of 30.6 percent at December 31, 2017 and 25.7 percent at June 30, 2017 of commitments which management has estimated may not fund.