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Fair Value Measurements and Fair Value of Financial Instruments (Tables)
 12 Months Ended
Jun. 30, 2018
Fair Value Measurements and Fair Value of Financial Instruments [Abstract]  
Fair Value, Assets Measured on Recurring Basis
For assets measured at fair value on a recurring basis, the fair value measurements by level within the fair value hierarchy used are as follows:
 
     
Fair Value Measurements Using
 
 
(In thousands)
   
June 30, 2018
    
Quoted Prices
In Active Markets
For Identical
Assets
(Level 1)
    
Significant
Other Observable
Inputs
(Level 2)
    
Significant
Unobservable
Inputs
(Level 3)
  
Assets:
            
U.S. Government sponsored enterprises
 
$
5,531
  
$
-
  
$
5,531
  
$
-
 
State and political subdivisions
  
92,255
   
-
   
92,255
   
-
 
Mortgage-backed securities-residential
  
3,247
   
-
   
3,247
   
-
 
Mortgage-backed securities-multi-family
  
18,069
   
-
   
18,069
   
-
 
Corporate debt securities
  
1,704
   
1,704
   
-
   
-
 
Equity securities
  
217
   
217
   
-
   
-
 
Securities available-for-sale
 
$
121,023
  
$
1,921
  
$
119,102
  
$
-
 

     
Fair Value Measurements Using
 
 
(In thousands)
 
June 30, 2017
  
Quoted Prices
In Active Markets
For Identical
Assets
(Level 1)
  
Significant
Other Observable
Inputs
(Level 2)
   
Significant
Unobservable
Inputs
(Level 3)
  
Assets:
            
U.S. Government sponsored enterprises
 
$
4,717
  
$
-
  
$
4,717
  
$
-
 
State and political subdivisions
  
58,112
   
-
   
58,112
   
-
 
Mortgage-backed securities-residential
  
4,913
   
-
   
4,913
   
-
 
Mortgage-backed securities-multi-family
  
20,765
   
-
   
20,765
   
-
 
Asset-backed securities
  
1
   
1
   
-
   
-
 
Corporate debt securities
  
2,791
   
2,791
   
-
   
-
 
Equity securities
  
184
   
184
   
-
   
-
 
Securities available-for-sale
 
$
91,483
  
$
2,976
  
$
88,507
  
$
-
 
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis
Estimates of fair value used for other collateral supporting commercial loans generally are based on assumptions not observable in the marketplace and therefore such valuations have been classified as Level 3.
 
           
Fair Value Measurements Using
 
(In thousands)
 
Recorded
Investment
  
Related
Allowance
  
Fair Value
  
(Level 1)
  
(Level 2)
  
(Level 3)
 
June 30, 2018
                  
Impaired loans
 
$
2,799
  
$
482
  
$
2,317
  
$
-
  
$
-
  
$
2,317
 
Foreclosed real estate
  
119
   
-
   
119
   
-
   
-
   
119
 
                         
June 30, 2017
                        
Impaired loans
 
$
1,175
  
$
330
  
$
845
  
$
-
  
$
-
  
$
845
 
Foreclosed real estate
  
799
   
-
   
799
   
-
   
-
   
799
 
Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis
The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Level 3 inputs were utilized to determine fair value:

            
(Dollars in thousands)
 
Fair Value
 
Valuation Technique
Unobservable Input
 
Range
  
Weighted
Average
 
June 30, 2018
           
Impaired Loans
 
$
1,687
 
Appraisal of collateral(1)
Appraisal adjustments(2)
  
26.58%-31.00
%
  
28.17
%
        
Liquidation expenses(3)
  
4.14%-7.26
%
  
5.07
%
   
630
 
Discounted cash flow
Discount rate
  
4.19%-6.63
%
  
5.36
%
Foreclosed real estate
  
119
 
Appraisal of collateral(1)
Appraisal adjustments(2)
  
0.00%-0.00
%
  
0.00
%
        
Liquidation expenses(3)
  
8.99%-11.78
%
  
9.92
%
June 30, 2017
              
Impaired loans
 
$
845
 
Appraisal of collateral(1)
Appraisal adjustments(2)
  
25.00%-42.52
%
  
28.46
%
        
Liquidation expenses(3)
  
3.45%-7.38
%
  
5.93
%
Foreclosed real estate
  
799
 
Appraisal of collateral(1)
Appraisal adjustments(2)
  
0.00%-0.00
%
  
0.00
%
        
Liquidation expenses(3)
  
11.64%-17.92
%
  
16.29
%
 
(1)
Fair value is generally determined through independent third-party appraisals of the underlying collateral, which generally includes various Level 3 inputs which are not observable.
(2)
Appraisals may be adjusted downwards by management for qualitative factors such as economic conditions.  Higher downward adjustments are caused by negative changes to the collateral or conditions in the real estate market, actual offers or sales contracts received or age of the appraisal.
(3)
Appraisals may be adjusted downwards by management for items such as the estimated costs to liquidate the collateral.
Carrying Amounts and Estimated Fair Value
The carrying amounts and estimated fair value of financial instruments are as follows:

(In thousands)
 
June 30, 2018
  
Fair Value Measurements Using
 
  
Carrying
Amount
  
Fair Value
  
(Level 1)
  
(Level 2)
  
(Level 3)
 
Cash and cash equivalents
 
$
26,504
  
$
26,504
  
$
26,504
  
$
-
  
$
-
 
Long term certificate of deposit
  
2,385
   
2,385
   
2,385
   
-
   
-
 
Securities available-for-sale
  
121,023
   
121,023
   
1,921
   
119,102
   
-
 
Securities held-to-maturity
  
274,550
   
274,177
   
-
   
274,177
   
-
 
Federal Home Loan Bank stock
  
1,545
   
1,545
   
-
   
1,545
   
-
 
Net loans receivable
  
704,431
   
698,879
   
-
   
-
   
698,879
 
Accrued interest receivable
  
5,057
   
5,057
   
-
   
5,057
   
-
 
Deposits
  
1,025,234
   
1,025,302
   
-
   
1,025,302
   
-
 
Borrowings from Federal Home Loan Bank
  
18,150
   
17,755
   
-
   
17,755
   
-
 
Accrued interest payable
  
88
   
88
   
-
   
88
   
-
 


(In thousands)
 
June 30, 2017
  
Fair Value Measurements Using
 
  
Carrying
Amount
  
Fair Value
  
(Level 1)
  
(Level 2)
  
(Level 3)
 
Cash and cash equivalents
 
$
16,277
  
$
16,277
  
$
16,277
  
$
-
  
$
-
 
Long term certificate of deposit
  
2,145
   
2,145
   
2,145
   
-
   
-
 
Securities available-for-sale
  
91,483
   
91,483
   
2,976
   
88,507
   
-
 
Securities held-to-maturity
  
223,830
   
228,452
   
-
   
228,452
   
-
 
Federal Home Loan Bank stock
  
2,131
   
2,131
   
-
   
2,131
   
-
 
Net loans receivable
  
624,187
   
629,690
   
-
   
-
   
629,690
 
Accrued interest receivable
  
4,033
   
4,033
   
-
   
4,033
   
-
 
Deposits
  
859,535
   
859,715
   
-
   
859,715
   
-
 
Borrowings from Federal Home Loan Bank
  
29,550
   
29,411
   
-
   
29,411
   
-
 
Accrued interest payable
  
92
   
92
   
-
   
92
   
-