Securities (Tables)

6 Months Ended

Dec. 31, 2016

Securities [Abstract]

Components of Securities

Securities at December 31, 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	$	4,576	$	170	$	-	$	4,746
State and political subdivisions		54,297		-		-		54,297
Mortgage-backed securities-residential		5,641		75		54		5,662
Mortgage-backed securities-multi-family		17,727		383		101		18,009
Asset-backed securities		4		-		-		4
Corporate debt securities		2,771		66		3		2,834
Total debt securities		85,016		694		158		85,552
Equity securities		62		96		-		158
Total securities available-for-sale		85,078		790		158		85,710
Securities held-to-maturity:
U.S. government sponsored enterprises		4,000		-		55		3,945
State and political subdivisions		108,775		2,045		431		110,389
Mortgage-backed securities-residential		11,505		330		2		11,833
Mortgage-backed securities-multi-family		83,648		752		1,071		83,329
Corporate debt securities		1,000		-		-		1,000
Other securities		2,055		-		17		2,038
Total securities held-to-maturity		210,983		3,127		1,576		212,534
Total securities	$	296,061	$	3,917	$	1,734	$	298,244

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 December 31, 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:
State and political subdivisions	$	793	$	-		1	$	-	$	-		-	$	793	$	-		1
Mortgage-backed securities-residential		1,240		46		1		876		8		1		2,116		54		2
Mortgage-backed securities-multi-family		5,668		101		3		-		-		-		5,668		101		3
Corporate debt securities		263		3		2		-		-		-		263		3		2
Total securities available for sale		7,964		150		7		880		8		1		8,844		158		8
Securities held to maturity:
U.S. government sponsored enterprises		1,945		55		1		-		-		-		1,945		55		1
State and political subdivisions		26,934		429		133		103		2		1		27,037		431		134
Mortgage-backed securities-residential		1,884		2		1		-		-		-		1,884		2		1
Mortgage-backed securities-multi-family		55,346		1,071		24		-		-		-		55,346		1,071		24
Other securities		962		16		1		74		1		1		1,036		17		2
Total securities held to maturity		87,071		1,573		160		177		3		2		87,248		1,576		162
Total securities	$	95,035	$	1,723		167	$	1,057	$	11		3	$	96,092	$	1,734		170

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 December 31, 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	$	55,006	$	55,055
After one year through five years		6,638		6,822
After five years through ten years		-		-
After ten years		-		-
Total available-for-sale debt securities		61,644		61,877
Mortgage-backed and asset-backed securities		23,372		23,675
Equity securities		62		158
Total available-for-sale securities		85,078		85,710
Held-to-maturity debt securities
Within one year		15,632		15,754
After one year through five years		56,769		57,364
After five years through ten years		32,225		32,621
After ten years		11,204		11,633
Total held-to-maturity debt securities		115,830		117,372
Mortgage-backed		95,153		95,162
Total held-to-maturity securities		210,983		212,534
Total securities	$	296,061	$	298,244