Securities (Tables)

9 Months Ended

Mar. 31, 2015

Securities [Abstract]

Reconciliation of Fair Value of Securities

Securities at March 31, 2015 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	$	7,615	$	288	$	-	$	7,903
State and political subdivisions		24,824		14		-		24,838
Mortgage-backed securities-residential		8,186		191		14		8,363
Mortgage-backed securities-multi-family		25,593		586		42		26,137
Asset-backed securities		13		-		1		12
Corporate debt securities		4,548		277		6		4,819
Total debt securities		70,779		1,356		63		72,072
Equity securities		62		73		-		135
Total securities available for sale		70,841		1,429		63		72,207
Securities held to maturity:
U.S. government sponsored enterprises		2,000		-		30		1,970
State and political subdivisions		94,237		747		57		94,927
Mortgage-backed securities-residential		19,133		944		-		20,077
Mortgage-backed securities-multi-family		61,760		1,132		439		62,453
Other securities		843		-		4		839
Total securities held to maturity		177,973		2,823		530		180,266
Total securities	$	248,814	$	4,252	$	593	$	252,473

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

Schedule of Unrealized Loss on Investments

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, 2015.

	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	$	1,684	$	14		1	$	-	$	-			$	1,684	$	14		1
Mortgage-backed securities-multi-family		2,803		42		2		-		-		-		2,803		42		2
Asset-backed securities		-		-		-		12		1		1		12		1		1
Corporate debt securities		772		6		2		-		-		-		772		6		2
Total securities available for sale		5,259		62		5		12		1		1		5,271		63		6
Securities held to maturity:
U.S. government sponsored enterprises		1,970		30		1		-		-		-		1,970		30		1
State and political subdivisions		4,792		56		23		79		1		1		4,871		57		24
Mortgage-backed securities-multi-family		29,198		368		7		6,044		71		2		35,242		439		9
Other securities		400		2		2		150		2		2		550		4		4
Total securities held to maturity		36,360		456		33		6,273		74		5		42,633		530		38
Total securities	$	41,619	$	518		38	$	6,285	$	75		6	$	47,904	$	593		44

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 S ecurities		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

Schedule of Contractual Maturities of Securities

The estimated fair values of debt securities at March 31, 2015, 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	$	27,200	$	27,236
After one year through five years		7,191		7,576
After five years through ten years		2,596		2,748
After ten years		-		-
Total available for sale debt securities		36,987		37,560
Mortgage-backed and asset-backed securities		33,792		34,512
Equity securities		62		135
Total available for sale securities		70,841		72,207
Held to maturity debt securities
Within one year		24,659		24,680
After one year through five years		45,129		45,515
After five years through ten years		19,164		19,364
After ten years		8,128		8,177
Total held to maturity debt securities		97,080		97,736
Mortgage-backed		80,893		82,530
Total held to maturity securities		177,973		180,266
Total securities	$	248,814	$	252,473