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Fair Value Measurements and Fair Value of Financial Instruments (Tables)
 6 Months Ended
Dec. 31, 2015
Fair Value Measurements and Fair Value of Financial Instruments [Abstract]  
Assets Measured at Fair Value on Recurring Basis
For assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used are as follows:
 
    
Fair Value Measurements Using
 
(In thousands)
 
December 31, 2015
  
Quoted Prices In
Active Markets For
 Identical Assets
(Level 1)
  
Significant Other
Observable Inputs
(Level 2)
  
Significant
Unobservable Inputs
(Level 3)
 
Assets:
        
U.S. Government sponsored enterprises
 
$
4,787
  
$
-
  
$
4,787
  
$
-
 
State and political subdivisions
  
53,120
   
-
   
53,120
   
-
 
Mortgage-backed securities-residential
  
7,135
   
-
   
7,135
   
-
 
Mortgage-backed securities-multi-family
  
23,686
   
-
   
23,686
   
-
 
Asset-backed securities
  
5
   
5
   
-
   
-
 
Corporate debt securities
  
4,703
   
4,703
   
-
   
-
 
Equity securities
  
146
   
146
   
-
   
-
 
Securities available-for-sale
 
$
93,582
  
$
4,854
  
$
88,728
  
$
-
 

    
Fair Value Measurements Using
 
(In thousands)
 
June 30, 2015
  
Quoted Prices 
In Active Markets For
Identical Assets
(Level 1)
  
Significant
Other Observable
Inputs
(Level 2)
  
Significant
Unobservable Inputs
(Level 3)
 
Assets:
        
U.S. Government sponsored enterprises
 
$
7,855
  
$
-
  
$
7,855
  
$
-
 
State and political subdivisions
  
39,582
   
-
   
39,582
   
-
 
Mortgage-backed securities-residential
  
7,942
   
-
   
7,942
   
-
 
Mortgage-backed securities-multi-family
  
25,735
   
-
   
25,735
   
-
 
Asset-backed securities
  
9
   
9
   
-
   
-
 
Corporate debt securities
  
4,774
   
4,774
   
-
   
-
 
Equity securities
  
137
   
137
   
-
   
-
 
Securities available-for-sale
 
$
86,034
  
$
4,920
  
$
81,114
  
$
-
 
Assets and Liabilities Measured at Fair Value on Nonrecurring Basis
    
Fair Value Measurements Using
 
(In thousands)
 
Fair Value
  
(Level 1)
  
(Level 2)
  
(Level 3)
 
December 31, 2015
        
Impaired loans
 
$
248
  
$
-
  
$
-
  
$
248
 
Foreclosed real estate
  
304
   
-
   
-
   
304
 
                 
June 30, 2015
                
Impaired loans
 
$
922
  
$
-
  
$
-
  
$
922
 
Foreclosed real estate
  
490
   
-
   
-
   
490
 
Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis
The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Level 3 inputs were utilized to determine fair value:
 
            
(Dollars in thousands)
 
Fair Value
 
Valuation Technique
Unobservable Input
 
Range
  
Weighted
Average
 
December 31, 2015
        
Impaired Loans
 
$
248
 
Appraisal of collateral(1)
Appraisal adjustments(2)
  
16.50%-38.85
%
  
27.37
%
        
Liquidation expenses(3)
  
4.09%-8.35
%
  
6.25
%
Foreclosed real estate
  
304
 
Appraisal of collateral(1)
Appraisal adjustments(2)
  
0.00%-54.17
%
  
10.73
%
        
Liquidation expenses(3)
  
0.42%-11.64
%
  
9.49
%
June 30, 2015
              
Impaired loans
 
$
922
 
Appraisal of collateral(1)
Appraisal adjustments(2)
  
0.00%-38.85
%
  
22.81
%
        
Liquidation expenses(3)
  
0.00%-7.50
%
  
3.91
%
Foreclosed real estate
  
490
 
Appraisal of collateral(1)
Appraisal adjustments(2)
  
7.41%-54.17
%
  
24.65
%
        
Liquidation expenses(3)
  
0.42%-10.86
%
  
6.40
%

(1)Fair value is generally determined through independent third-party appraisals of the underlying collateral, which generally includes various Level 3 inputs which are not observable.
(2)Appraisals may be adjusted downwards by management for qualitative factors such as economic conditions.  Higher downward adjustments are caused by negative changes to the collateral or conditions in the real estate market, actual offers or sales contracts received or age of the appraisal.
(3)Appraisals may be adjusted downwards by management for qualitative factors such as the estimated costs to liquidate the collateral.
Carrying Amounts and Estimated Fair Value of Financial Instruments
The carrying amounts and estimated fair value of financial instruments are as follows:

(In thousands)
 
December 31, 2015
  
Fair Value Measurements Using
 
  
Carrying
Amount
  
Fair Value
  
(Level 1)
  
(Level 2)
  
(Level 3)
 
Cash and cash equivalents
 
$
22,088
  
$
22,088
  
$
22,088
  
$
-
  
$
-
 
Long term certificate of deposit
  
1,230
   
1,230
   
1,230
   
-
   
-
 
Securities available-for-sale
  
93,582
   
93,582
   
4,854
   
88,728
   
-
 
Securities held-to-maturity
  
177,554
   
182,063
   
-
   
182,063
   
-
 
Federal Home Loan Bank stock
  
2,782
   
2,782
   
-
   
2,782
   
-
 
Net loans
  
478,204
   
485,271
   
-
   
-
   
485,271
 
Accrued interest receivable
  
3,258
   
3,258
   
-
   
3,258
   
-
 
Deposits
  
669,189
   
669,381
   
-
   
669,381
   
-
 
Federal Home Loan Bank borrowings
  
48,100
   
47,904
   
-
   
47,904
   
-
 
Accrued interest payable
  
74
   
74
   
-
   
74
   
-
 

(In thousands)
 
June 30, 2015
  
Fair Value Measurements Using
 
  
Carrying
Amount
  
Fair Value
  
(Level 1)
  
(Level 2)
  
(Level 3)
 
Cash and cash equivalents
 
$
15,538
  
$
15,538
  
$
15,538
  
$
-
  
$
-
 
Long term certificate of deposit
  
1,230
   
1,230
   
1,230
   
-
   
-
 
Securities available-for-sale
  
86,034
   
86,034
   
4,920
   
81,114
   
-
 
Securities held-to-maturity
  
169,000
   
171,976
   
-
   
171,976
   
-
 
Federal Home Loan Bank stock
  
2,494
   
2,494
   
-
   
2,494
   
-
 
Net loans
  
443,496
   
450,437
   
-
   
-
   
450,437
 
Accrued interest receivable
  
3,026
   
3,026
   
-
   
3,026
   
-
 
Deposits
  
622,717
   
622,900
   
-
   
622,900
   
-
 
Federal Home Loan Bank borrowings
  
41,700
   
41,598
   
-
   
41,598
   
-
 
Accrued interest payable
  
64
   
64
   
-
   
64
   
-