Securities (Tables)

9 Months Ended

Mar. 31, 2017

Securities [Abstract]

Components of Securities

Securities at March 31, 2017 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	$	4,571	$	168	$	-	$	4,739
State and political subdivisions		46,035		50		5		46,080
Mortgage-backed securities-residential		5,372		72		66		5,378
Mortgage-backed securities-multi-family		17,530		404		87		17,847
Asset-backed securities		3		-		-		3
Corporate debt securities		2,768		50		2		2,816
Total debt securities		76,279		744		160		76,863
Equity securities		62		116		-		178
Total securities available-for-sale		76,341		860		160		77,041
Securities held-to-maturity:
U.S. government sponsored enterprises		4,000		-		24		3,976
State and political subdivisions		113,363		2,829		232		115,960
Mortgage-backed securities-residential		11,687		317		2		12,002
Mortgage-backed securities-multi-family		82,682		806		597		82,891
Corporate debt securities		1,000		-		8		992
Other securities		1,568		19		15		1,572
Total securities held-to-maturity		214,300		3,971		878		217,393
Total securities	$	290,641	$	4,831	$	1,038	$	294,434

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 March 31, 2017.

	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	$	9,444	$	5		18	$	-	$	-		-	$	9,444	$	5		18
Mortgage-backed securities-residential		1,195		62		2		862		4		1		2,057		66		3
Mortgage-backed securities-multi-family		5,537		87		3		-		-		-		5,537		87		3
Corporate debt securities		263		2		3		-		-		-		263		2		3
Total securities available for sale		16,439		156		26		862		4		1		17,301		160		27
Securities held to maturity:
U.S. government sponsored enterprises		1,977		24		1		-		-		-		1,977		24		1
State and political subdivisions		15,720		230		106		154		2		2		15,874		232		108
Mortgage-backed securities-residential		1,874		2		1		-		-		-		1,874		2		1
Mortgage-backed securities-multi-family		47,261		597		21		-		-		-		47,261		597		21
Corporate debt securities		992		8		2		-		-		-		992		8		2
Other securities		473		14		2		74		1		1		547		15		3
Total securities held to maturity		68,297		875		133		228		3		3		68,525		878		136
Total securities	$	84,736	$	1,031		159	$	1,090	$	7		4	$	85,826	$	1,038		163

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 March 31, 2017, 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	$	47,747	$	47,838
After one year through five years		5,627		5,797
After five years through ten years		-		-
After ten years		-		-
Total available-for-sale debt securities		53,374		53,635
Mortgage-backed and asset-backed securities		22,905		23,228
Equity securities		62		178
Total available-for-sale securities		76,341		77,041
Held-to-maturity debt securities
Within one year		16,068		16,236
After one year through five years		57,964		59,043
After five years through ten years		33,791		34,574
After ten years		12,108		12,647
Total held-to-maturity debt securities		119,931		122,500
Mortgage-backed		94,369		94,893
Total held-to-maturity securities		214,300		217,393
Total securities	$	290,641	$	294,434