Securities (Tables)

3 Months Ended

Sep. 30, 2013

Securities [Abstract]

Unrealized Gain (Loss) on Investments

Securities at September 30, 2013 consisted of the following:

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Securities available for sale:
U.S. government sponsored enterprises	$	12,708	$	267	$	-	$	12,975
State and political subdivisions		1,847		27		13		1,861
Mortgage-backed securities-residential		6,408		220		-		6,628
Mortgage-backed securities-multi-family		40,452		225		1,365		39,312
Asset-backed securities		16		-		1		15
Corporate debt securities		4,822		375		27		5,170
Total debt securities		66,253		1,114		1,406		65,961
Equity securities		68		89		-		157
Total securities available for sale		66,321		1,203		1,406		66,118
Securities held to maturity:
U.S. treasury securities		4,500		8		-		4,508
U.S. government sponsored enterprises		3,000		12		122		2,890
State and political subdivisions		83,926		423		675		83,674
Mortgage-backed securities-residential		26,610		1,360		1		27,969
Mortgage-backed securities-multi-family		54,736		822		2,284		53,274
Other securities		1,076		-		38		1,038
Total securities held to maturity		173,848		2,625		3,120		173,353
Total securities	$	240,169	$	3,828	$	4,526	$	239,471

Securities at June 30, 2013 consisted of the following:

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Securities available for sale:
U.S. government sponsored enterprises	$	12,729	$	260	$	-	$	12,989
State and political subdivisions		1,849		29		20		1,858
Mortgage-backed securities-residential		7,340		193		-		7,533
Mortgage-backed securities-multi-family		42,096		289		466		41,919
Asset-backed securities		17		-		1		16
Corporate debt securities		4,827		380		31		5,176
Total debt securities		68,858		1,151		518		69,491
Equity securities		68		85		-		153
Total securities available for sale		68,926		1,236		518		69,644
Securities held to maturity:
U.S. treasury securities		5,500		17		-		5,517
U.S. government sponsored enterprises		2,999		16		113		2,902
State and political subdivisions		82,801		362		755		82,408
Mortgage-backed securities-residential		29,077		1,515		9		30,583
Mortgage-backed securities-multi-family		55,086		1,236		1,093		55,229
Other securities		1,056		-		35		1,021
Total securities held to maturity		176,519		3,146		2,005		177,660
Total securities	$	245,445	$	4,382	$	2,523	$	247,304

Continuous Unrealized Loss Position, Fair Value

The following table shows fair value and gross unrealized losses, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2013.

	Less Than 12 Months				More Than 12 Months				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities available for sale:
State and political subdivisions	$	797	$	13	$	-	$	-	$	797	$	13
Mortgage-backed securities-multi-family		33,671		1,365		-		-		33,671		1,365
Asset-backed securities		-		-		15		1		15		1
Corporate debt securities		760		27		-		-		760		27
Total securities available for sale		35,228		1,405		15		1		35,243		1,406
Securities held to maturity:
U.S. government sponsored enterprises		1,878		122		-		-		1,878		122
State and political subdivisions		22,986		674		484		1		23,470		675
Mortgage-backed securities-residential		999		1		-		-		999		1
Mortgage-backed securities-multi-family		28,388		1,794		5,730		490		34,118		2,284
Other securities		749		38		-		-		749		38
Total securities held to maturity		55,000		2,629		6,214		491		61,214		3,120
Total securities	$	90,228	$	4,034	$	6,229	$	492	$	96,457	$	4,526

The following table shows fair value and gross unrealized losses, aggregated by security category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2013.

	Less Than 12 Months				More Than 12 Months				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities available for sale:
State and political subdivisions	$	791	$	20	$	-	$	-	$	791	$	20
Mortgage-backed securities-multi-family		33,298		466		-		-		33,298		466
Asset-backed securities		-		-		16		1		16		1
Corporate debt securities		758		31		-		-		758		31
Total securities available for sale		34,847		517		16		1		34,863		518
Securities held to maturity:
U.S. government sponsored enterprises		1,887		113		-		-		1,887		113
State and political subdivisions		28,597		745		1,597		10		30,194		755
Mortgage-backed securities-residential		1,228		9		-		-		1,228		9
Mortgage-backed securities-multi-family		33,044		1,093		-		-		33,044		1,093
Other securities		753		35		-		-		753		35
Total securities held to maturity		65,509		1,995		1,597		10		67,106		2,005
Total securities	$	100,356	$	2,512	$	1,613	$	11	$	101,969	$	2,523

Investments Classified by Contractual Maturity Date

The estimated fair values of debt securities at September 30, 2013, by contractual maturity are shown below.  Expected maturities may differ from contractual maturities, because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

(In thousands)

Available for sale debt securities	Amortized Cost		Fair Value
Within one year	$	4,797	$	4,864
After one year through five years		9,652		10,082
After five years through ten years		4,928		5,060
After ten years		-		-
Total available for sale debt securities		19,377		20,006
Mortgage-backed and asset-backed securities		46,876		45,955
Equity securities		68		157
Total available for sale securities		66,321		66,118
Held to maturity debt securities
Within one year		21,548		21,595
After one year through five years		30,244		30,452
After five years through ten years		27,137		26,820
After ten years		13,573		13,243
Total held to maturity debt securities		92,502		92,110
Mortgage-backed		81,346		81,243
Total held to maturity securities		173,848		173,353
Total securities	$	240,169	$	239,471