Securities (Tables)

9 Months Ended

Mar. 31, 2014

Securities [Abstract]

Unrealized Gain (Loss) on Investments

Securities at March 31, 2014 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	$	12,666	$	226	$	-	$	12,892
State and political subdivisions		1,327		24		5		1,346
Mortgage-backed securities-residential		5,293		187		-		5,480
Mortgage-backed securities-multi-family		26,633		154		582		26,205
Asset-backed securities		15		-		1		14
Corporate debt securities		4,815		390		23		5,182
Total debt securities		50,749		981		611		51,119
Equity securities		62		99		-		161
Total securities available for sale		50,811		1,080		611		51,280
Securities held to maturity:
U.S. government sponsored enterprises		3,000		3		115		2,888
State and political subdivisions		84,421		611		395		84,637
Mortgage-backed securities-residential		23,948		1,127		-		25,075
Mortgage-backed securities-multi-family		64,742		696		2,682		62,756
Other securities		978		-		31		947
Total securities held to maturity		177,089		2,437		3,223		176,303
Total securities	$	227,900	$	3,517	$	3,834	$	227,583

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 March 31, 2014.

	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	$	803	$	5	$	-	$	-	$	803	$	5
Mortgage-backed securities-multi-family		21,358		520		963		62		22,321		582
Asset-backed securities		-		-		14		1		14		1
Corporate debt securities		761		23		-		-		761		23
Total securities available for sale		22,922		548		977		63		23,899		611
Securities held to maturity:
U.S. government sponsored enterprises		1,885		115		-		-		1,885		115
State and political subdivisions		14,310		390		64		5		14,374		395
Mortgage-backed securities-multi-family		31,952		1,842		9,377		840		41,329		2,682
Other securities		443		25		81		6		524		31
Total securities held to maturity		48,590		2,372		9,522		851		58,112		3,223
Total securities	$	71,512	$	2,920	$	10,499	$	914	$	82,011	$	3,834

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 March 31, 2014, 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	$	5,278	$	5,309
After one year through five years		8,615		9,050
After five years through ten years		4,915		5,061
After ten years		-		-
Total available for sale debt securities		18,808		19,420
Mortgage-backed and asset-backed securities		31,941		31,699
Equity securities		62		161
Total available for sale securities		50,811		51,280
Held to maturity debt securities
Within one year		19,440		19,464
After one year through five years		30,528		30,874
After five years through ten years		25,655		25,545
After ten years		12,776		12,589
Total held to maturity debt securities		88,399		88,472
Mortgage-backed		88,690		87,831
Total held to maturity securities		177,089		176,303
Total securities	$	227,900	$	227,583