Securities (Tables)

3 Months Ended

Sep. 30, 2016

Securities [Abstract]

Components of Securities

Securities at September 30, 2016 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	$	4,582	$	272	$	-	$	4,854
State and political subdivisions		52,450		4		-		52,454
Mortgage-backed securities-residential		5,971		168		7		6,132
Mortgage-backed securities-multi-family		22,357		1,125		2		23,480
Asset-backed securities		4		-		-		4
Corporate debt securities		4,024		96		-		4,120
Total debt securities		89,388		1,665		9		91,044
Equity securities		62		99		-		161
Total securities available-for-sale		89,450		1,764		9		91,205
Securities held-to-maturity:
U.S. government sponsored enterprises		2,000		2		-		2,002
State and political subdivisions		103,351		4,622		13		107,960
Mortgage-backed securities-residential		12,500		505		-		13,005
Mortgage-backed securities-multi-family		86,609		3,040		9		89,640
Corporate debt securities		1,000		4		-		1,004
Other securities		2,141		15		1		2,155
Total securities held-to-maturity		207,601		8,188		23		215,766
Total securities	$	297,051	$	9,952	$	32	$	306,971

Securities at June 30, 2016 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	$	4,587	$	304	$	-	$	4,891
State and political subdivisions		60,491		8		-		60,499
Mortgage-backed securities-residential		6,360		185		5		6,540
Mortgage-backed securities-multi-family		22,594		1,285		-		23,879
Asset-backed securities		5		-		-		5
Corporate debt securities		4,028		129		-		4,157
Total debt securities		98,065		1,911		5		99,971
Equity securities		62		90		-		152
Total securities available-for-sale		98,127		2,001		5		100,123
Securities held-to-maturity:
U.S. government sponsored enterprises		2,000		32		-		2,032
State and political subdivisions		99,040		5,003		3		104,040
Mortgage-backed securities-residential		13,543		606		-		14,149
Mortgage-backed securities-multi-family		87,204		3,471		4		90,671
Corporate debt securities		1,000		-		-		1,000
Other securities		2,148		18		-		2,166
Total securities held-to-maturity		204,935		9,130		7		214,058
Total securities	$	303,062	$	11,131	$	12	$	314,181

Securities in Continuous Unrealized Loss Position

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, 2016.

	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	$	896	$	7		1	$	-	$	-		-	$	896	$	7		1
Mortgage-backed securities-multi-family		1,734		2		1		-		-		-		1,734		2		1
Total securities available-for-sale		2,630		9		2		-		-		-		2,630		9		2
Securities held-to-maturity:
State and political subdivisions		2,319		12		25		139		1		1		2,458		13		26
Mortgage-backed securities-multi-family		2,532		9		3		-		-		-		2,532		9		3
Other securities		224		1		1		-		-		-		224		1		1
Total securities held-to-maturity		5,075		22		29		139		1		1		5,214		23		30
Total securities	$	7,705	$	31		31	$	139	$	1		1	$	7,844	$	32		32

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, 2016.

	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	$	924	$	5		1	$	-	$	-		-	$	924	$	5		1
Total securities available-for-sale		924		5		1		-		-		-		924		5		1
Securities held-to-maturity:
State and political subdivisions		272		2		1		175		1		2		447		3		3
Mortgage-backed securities-multi-family		499		4		4		-		-		-		499		4		4
Total securities held-to-maturity		771		6		5		175		1		2		946		7		7
Total securities	$	1,695	$	11		6	$	175	$	1		2	$	1,870	$	12		8

Investments Classified by Contractual Maturity Date

The estimated fair values of debt securities at September 30, 2016, 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	$	53,409	$	53,429
After one year through five years		7,647		7,999
After five years through ten years		-		-
After ten years		-		-
Total available-for-sale debt securities		61,056		61,428
Mortgage-backed and asset-backed securities		28,332		29,616
Equity securities		62		161
Total available-for-sale securities		89,450		91,205
Held-to-maturity debt securities
Within one year		14,965		15,224
After one year through five years		54,258		55,949
After five years through ten years		27,985		29,590
After ten years		11,284		12,358
Total held-to-maturity debt securities		108,492		113,121
Mortgage-backed		99,109		102,645
Total held-to-maturity securities		207,601		215,766
Total securities	$	297,051	$	306,971