Securities (Tables)

6 Months Ended

Dec. 31, 2013

Securities [Abstract]

Unrealized Gain (Loss) on Investments

Securities at December 31, 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	$	12,687	$	185	$	-	$	12,872
State and political subdivisions		1,329		26		7		1,348
Mortgage-backed securities-residential		5,726		189		2		5,913
Mortgage-backed securities-multi-family		27,260		192		642		26,810
Asset-backed securities		16		-		1		15
Corporate debt securities		4,819		388		28		5,179
Total debt securities		51,837		980		680		52,137
Equity securities		62		102		-		164
Total securities available for sale		51,899		1,082		680		52,301
Securities held to maturity:
U.S. government sponsored enterprises		3,000		8		152		2,856
State and political subdivisions		84,417		501		759		84,159
Mortgage-backed securities-residential		25,191		1,171		-		26,362
Mortgage-backed securities-multi-family		64,989		721		2,504		63,206
Other securities		1,061		-		48		1,013
Total securities held to maturity		178,658		2,401		3,463		177,596
Total securities	$	230,557	$	3,483	$	4,143	$	229,897

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 December 31, 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	$	801	$	7	$	-	$	-	$	801	$	7
Mortgage-backed securities-residential		568		2		-		-		568		2
Mortgage-backed securities-multi-family		21,475		577		971		65		22,446		642
Asset-backed securities		-		-		15		1		15		1
Corporate debt securities		758		28		-		-		758		28
Total securities available for sale		23,602		614		986		66		24,588		680
Securities held to maturity:
U.S. government sponsored enterprises		1,848		152		-		-		1,848		152
State and political subdivisions		17,278		661		1,943		98		19,221		759
Mortgage-backed securities-multi-family		25,799		1,439		16,827		1,065		42,626		2,504
Other securities		560		39		78		9		638		48
Total securities held to maturity		45,485		2,291		18,848		1,172		64,333		3,463
Total securities	$	69,087	$	2,905	$	19,834	$	1,238	$	88,921	$	4,143

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 December 31, 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	$	4,272	$	4,317
After one year through five years		9,641		10,083
After five years through ten years		4,922		4,999
After ten years		-		-
Total available for sale debt securities		18,835		19,399
Mortgage-backed and asset-backed securities		33,002		32,738
Equity securities		62		164
Total available for sale securities		51,899		52,301
Held to maturity debt securities
Within one year		18,720		18,755
After one year through five years		28,948		29,257
After five years through ten years		27,896		27,493
After ten years		12,914		12,523
Total held to maturity debt securities		88,478		88,028
Mortgage-backed		90,180		89,568
Total held to maturity securities		178,658		177,596
Total securities	$	230,557	$	229,897