Securities (Tables)

6 Months Ended

Dec. 31, 2014

Securities at December 31, 2014 consisted of the following:

(In thousands) Securities available for sale:	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
U.S. government sponsored enterprises	$	8,623	$	230	$	-	$	8,853
State and political subdivisions		20,260		16		3		20,273
Mortgage-backed securities-residential		8,558		181		15		8,724
Mortgage-backed securities-multi-family		26,092		199		106		26,185
Asset-backed securities		14		-		2		12
Corporate debt securities		4,553		306		15		4,844
Total debt securities		68,100		932		141		68,891
Equity securities		62		118		-		180
Total securities available for sale		68,162		1,050		141		69,071
Securities held to maturity:
U.S. government sponsored enterprises		2,000		-		83		1,917
State and political subdivisions		93,968		745		79		94,634
Mortgage-backed securities-residential		20,185		964		-		21,149
Mortgage-backed securities-multi-family		64,058		872		1,490		63,440
Other securities		854		-		13		841
Total securities held to maturity		181,065		2,581		1,665		181,981
Total securities	$	249,227	$	3,631	$	1,806	$	251,052

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 December 31, 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:
State and political subdivisions	$	801	$	3		1	$	-	$	-		-	$	801	$	3		1
Mortgage-backed securities-residential		4,031		15		2		-		-				4,031		15		2
Mortgage-backed securities-multi-family		3,801		41		3		6,734		65		3		10,535		106		6
Asset-backed securities		-		-		-		12		2		1		12		2		1
Corporate debt securities		764		15		3		-		-		-		764		15		3
Total securities available for sale		9,397		74		9		6,746		67		4		16,143		141		13
Securities held to maturity:
U.S. government sponsored enterprises		1,917		83		1		-		-		-		1,917		83		1
State and political subdivisions		5,658		73		26		288		6		6		5,946		79		32
Mortgage-backed securities-multi-family		26,832		1,095		7		11,726		395		5		38,558		1,490		12
Other securities		210		2		2		411		11		1		621		13		3
Total securities held to maturity		34,617		1,253		36		12,425		412		12		47,042		1,665		48
Total securities	$	44,014	$	1,327		45	$	19,171	$	479		16	$	63,185	$	1,806		61

	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 December 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	$	23,138	$	23,165
After one year through five years		5,681		5,981
After five years through ten years		4,617		4,824
After ten years		-		-
Total available for sale debt securities		33,436		33,970
Mortgage-backed and asset-backed securities		34,664		34,921
Equity securities		62		180
Total available for sale securities		68,162		69,071

Held to maturity debt securities
Within one year		26,623		26,658
After one year through five years		42,642		43,013
After five years through ten years		19,448		19,573
After ten years		8,109		8,148
Total held to maturity debt securities		96,822		97,392
Mortgage-backed		84,243		84,589
Total held to maturity securities		181,065		181,981
Total securities	$	249,227	$	251,052