Securities (Tables)

12 Months Ended

Jun. 30, 2017

Securities [Abstract]

Components of Securities

Securities at June 30, 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	$	4,566	$	151	$	-	$	4,717
State and political subdivisions		57,885		227		-		58,112
Mortgage-backed securities-residential		4,868		72		27		4,913
Mortgage-backed securities-multi-family		20,344		483		62		20,765
Asset-backed securities		1		-		-		1
Corporate debt securities		2,765		29		3		2,791
Total debt securities		90,429		962		92		91,299
Equity securities		62		122		-		184
Total securities available-for-sale		90,491		1,084		92		91,483
Securities held-to-maturity:
U.S. government sponsored enterprises		6,000		-		53		5,947
State and political subdivisions		115,805		3,434		95		119,144
Mortgage-backed securities-residential		10,798		274		2		11,070
Mortgage-backed securities-multi-family		88,702		1,259		199		89,762
Corporate debt securities		1,000		-		5		995
Other securities		1,525		21		12		1,534
Total securities held-to-maturity		223,830		4,988		366		228,452
Total securities	$	314,321	$	6,072	$	458	$	319,935

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 June 30, 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:
Mortgage-backed securities-residential	$	1,164	$	27		1	$	-	$	-		-	$	1,164	$	27		1
Mortgage-backed securities-multi-family		6,488		62		4		-		-		-		6,488		62		4
Corporate debt securities		760		3		2		-		-		-		760		3		2
Total securities available for sale		8,412		92		7		-		-		-		8,412		92		7
Securities held to maturity:
U.S. government sponsored enterprises		5,947		53		2		-		-		-		5,947		53		2
State and political subdivisions		8,976		76		64		514		19		6		9,490		95		70
Mortgage-backed securities-residential		1,864		2		1		-		-		-		1,864		2		1
Mortgage-backed securities-multi-family		23,823		199		15		-		-		-		23,823		199		15
Corporate debt securities		995		5		1		-		-		-		995		5		1
Other securities		467		11		1		74		1		1		541		12		2
Total securities held to maturity		42,072		346		84		588		20		7		42,660		366		91
Total securities	$	50,484	$	438		91	$	588	$	20		7	$	51,072	$	458		98

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 June 30, 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	$	60,387	$	60,641
After one year through five years		4,829		4,979
After five years through ten years		-		-
After ten years		-		-
Total available-for-sale debt securities		65,216		65,620
Mortgage-backed and asset-backed securities		25,213		25,679
Equity securities		62		184
Total available-for-sale securities		90,491		91,483
Held-to-maturity debt securities
Within one year		17,403		17,642
After one year through five years		56,441		57,713
After five years through ten years		38,309		39,415
After ten years		12,177		12,850
Total held-to-maturity debt securities		124,330		127,620
Mortgage-backed		99,500		100,832
Total held-to-maturity securities		223,830		228,452
Total securities	$	314,321	$	319,935