Securities (Tables)

3 Months Ended

Sep. 30, 2014

Securities [Abstract]

Unrealized Gain (Loss) on Investments

Securities at September 30, 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	$	8,633	$	211	$	-	$	8,844
State and political subdivisions		14,211		21		-		14,232
Mortgage-backed securities-residential		8,924		181		22		9,083
Mortgage-backed securities-multi-family		28,206		115		216		28,105
Asset-backed securities		14		-		1		13
Corporate debt securities		4,557		338		17		4,878
Total debt securities		64,545		866		256		65,155
Equity securities		62		98		-		160
Total securities available for sale		64,607		964		256		65,315
Securities held to maturity:
U.S. government sponsored enterprises		2,000		-		111		1,889
State and political subdivisions		95,411		835		132		96,114
Mortgage-backed securities-residential		21,467		1,016		-		22,483
Mortgage-backed securities-multi-family		64,451		781		1,993		63,239
Other securities		906		-		23		883
Total securities held to maturity		184,235		2,632		2,259		184,608
Total securities	$	248,842	$	3,596	$	2,515	$	249,923

Securities at June 30, 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	$	10,648	$	250	$	-	$	10,898
State and political subdivisions		1,324		23		-		1,347
Mortgage-backed securities-residential		9,345		213		13		9,545
Mortgage-backed securities-multi-family		29,268		89		339		29,018
Asset-backed securities		15		-		2		13
Corporate debt securities		4,811		375		16		5,170
Total debt securities		55,411		950		370		55,991
Equity securities		62		98		-		160
Total securities available for sale		55,473		1,048		370		56,151
Securities held to maturity:
U.S. government sponsored enterprises		2,000		-		102		1,898
State and political subdivisions		91,634		787		204		92,217
Mortgage-backed securities-residential		22,785		1,150		-		23,935
Mortgage-backed securities-multi-family		64,605		759		2,381		62,983
Other securities		922		1		24		899
Total securities held to maturity		181,946		2,697		2,711		181,932
Total securities	$	237,419	$	3,745	$	3,081	$	238,083

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, 2014.

	Less Than 12 Months						More Than 12 Months						Total
(In thousands, except number of securities)	Fair Value		Unrealized Losses		Number of Securities		Fair Value		Unrealized Losses		Number of Securities		Fair Value		Unrealized Losses		Number of Securities
Securities available for sale:
Mortgage-backed securities-residential	$	4,154	$	22		2	$	-	$	-		-	$	4,154	$	22		2
Mortgage-backed securities-multi-family		2,880		22		2		15,523		194		6		18,403		216		8
Asset-backed securities		-		-		-		13		1		1		13		1		1
Corporate debt securities		764		17		2		-		-		-		764		17		2
Total securities available for sale		7,798		61		6		15,536		195		7		23,334		256		13
Securities held to maturity:
U.S. government sponsored enterprises		1,889		111		1		-		-		-		1,889		111		1
State and political subdivisions		6,516		119		29		928		13		5		7,444		132		34
Mortgage-backed securities-multi-family		26,705		1,426		7		11,595		567		5		38,300		1,993		12
Other securities		130		2		2		402		21		2		532		23		4
Total securities held to maturity		35,240		1,658		39		12,925		601		12		48,165		2,259		51
Total securities	$	43,038	$	1,719		45	$	28,461	$	796		19	$	71,499	$	2,515		64

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, 2014.

	Less Than 12 Months						More Than 12 Months						Total
(In thousands, except number of securities)	Fair Value		Unrealized Losses		Number of Securities		Fair Value		Unrealized Losses		Number of Securities		Fair Value		Unrealized Losses		Number of Securities
Securities available for sale:
Mortgage-backed securities-residential	$	4,302	$	13		2	$	-	$	-		-	$	4,302	$	13		2
Mortgage-backed securities-multi-family		4,448		5		3		19,404		334		7		23,852		339		10
Asset-backed securities		-		-		-		13		2		1		13		2		1
Corporate debt securities		767		16		2		-		-		-		767		16		2
Total securities available for sale		9,517		34		7		19,417		336		8		28,934		370		15
Securities held to maturity:
U.S. government sponsored enterprises		1,898		102		1		-		-		-		1,898		102		1
State and political subdivisions		6,693		175		34		1,815		29		11		8,508		204		45
Mortgage-backed securities-multi-family		26,522		1,617		7		15,440		764		6		41,962		2,381		13
Other securities		130		2		2		401		22		2		531		24		4
Total securities held to maturity		35,243		1,896		44		17,656		815		19		52,899		2,711		63
Total securities	$	44,760	$	1,930		51	$	37,073	$	1,151		27	$	81,833	$	3,081		78

Investments Classified by Contractual Maturity Date

The estimated fair values of debt securities at September 30, 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	$	17,093	$	17,134
After one year through five years		5,686		6,025
After five years through ten years		4,622		4,795
After ten years		-		-
Total available for sale debt securities		27,401		27,954
Mortgage-backed and asset-backed securities		37,144		37,201
Equity securities		62		160
Total available for sale securities		64,607		65,315
Held to maturity debt securities
Within one year		28,754		28,788
After one year through five years		40,980		41,500
After five years through ten years		20,487		20,525
After ten years		8,096		8,073
Total held to maturity debt securities		98,317		98,886
Mortgage-backed		85,918		85,722
Total held to maturity securities		184,235		184,608
Total securities	$	248,842	$	249,923