Securities (Tables)

9 Months Ended

Mar. 31, 2018

Securities [Abstract]

Components of Securities

Securities at March 31, 2018 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	$	5,548	$	42	$	20	$	5,570
State and political subdivisions		87,351		114		3		87,462
Mortgage-backed securities-residential		3,810		21		94		3,737
Mortgage-backed securities-multi-family		19,055		122		247		18,930
Corporate debt securities		1,773		-		51		1,722
Total debt securities		117,537		299		415		117,421
Equity securities		62		144		-		206
Total securities available-for-sale		117,599		443		415		117,627
Securities held-to-maturity:
U.S. government sponsored enterprises		9,242		-		218		9,024
State and political subdivisions		134,697		2,807		576		136,928
Mortgage-backed securities-residential		6,938		92		4		7,026
Mortgage-backed securities-multi-family		123,204		228		1,977		121,455
Corporate debt securities		1,000		9		-		1,009
Other securities		2,351		17		11		2,357
Total securities held-to-maturity		277,432		3,153		2,786		277,799
Total securities	$	395,031	$	3,596	$	3,201	$	395,426

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 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, 2018.

	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:
U.S. government sponsored enterprises	$	978	$	20		1	$	-	$	-		-	$	978	$	20		1
State and political subdivisions		5,656		3		10		-		-		-		5,656		3		10
Mortgage-backed securities-residential		2,636		94		4		-		-		-		2,636		94		4
Mortgage-backed securities-multi-family		9,790		247		6		-		-		-		9,790		247		6
Corporate debt securities		1,467		49		6		255		2		1		1,722		51		7
Total securities available-for-sale		20,527		413		27		255		2		1		20,782		415		28
Securities held-to-maturity:
U.S. government sponsored enterprises		7,071		171		1		1,953		47		1		9,024		218		2
State and political subdivisions		34,843		491		165		3,723		85		37		38,566		576		202
Mortgage-backed securities-residential		1,033		4		1		-		-		-		1,033		4		1
Mortgage-backed securities-multi-family		84,677		1,923		43		2,464		54		3		87,141		1,977		46
Other securities		914		11		4		-		-		-		914		11		4
Total securities held-to-maturity		128,538		2,600		214		8,140		186		41		136,678		2,786		255
Total securities	$	149,065	$	3,013		241	$	8,395	$	188		42	$	157,460	$	3,201		283

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

Investments Classified by Contractual Maturity Date

The estimated fair values of debt securities at March 31, 2018, 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	$	87,351	$	87,462
After one year through five years		4,808		4,847
After five years through ten years		2,513		2,445
After ten years		-		-
Total available-for-sale debt securities		94,672		94,754
Mortgage-backed and asset-backed securities		22,865		22,667
Equity securities		62		206
Total available-for-sale securities		117,599		117,627
Held-to-maturity debt securities
Within one year		22,243		22,383
After one year through five years		61,151		61,744
After five years through ten years		46,536		46,882
After ten years		17,360		18,309
Total held-to-maturity debt securities		147,290		149,318
Mortgage-backed		130,142		128,481
Total held-to-maturity securities		277,432		277,799
Total securities	$	395,031	$	395,426