Securities (Tables)

12 Months Ended

Jun. 30, 2019

Securities [Abstract]

Components of Securities

Securities at June 30, 2019 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	$	5,522	$	31	$	-	$	5,553
State and political subdivisions		95,782		788		-		96,570
Mortgage-backed securities-residential		2,634		31		20		2,645
Mortgage-backed securities-multi-family		16,151		259		-		16,410
Corporate debt securities		1,513		37		-		1,550
Total securities available-for-sale		121,602		1,146		20		122,728
Securities held-to-maturity:
U.S. government sponsored enterprises		9,249		1		14		9,236
State and political subdivisions		152,358		6,212		23		158,547
Mortgage-backed securities-residential		4,570		97		-		4,667
Mortgage-backed securities-multi-family		134,970		3,122		17		138,075
Corporate debt securities		1,478		18		25		1,471
Other securities		1,583		34		-		1,617
Total securities held-to-maturity		304,208		9,484		79		313,613
Total securities	$	425,810	$	10,630	$	99	$	436,341

Securities at June 30, 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	$	5,543	$	18	$	30	$	5,531
State and political subdivisions		92,052		204		1		92,255
Mortgage-backed securities-residential		3,332		13		98		3,247
Mortgage-backed securities-multi-family		18,249		64		244		18,069
Corporate debt securities		1,771		-		67		1,704
Total securities available-for-sale		120,947		299		440		120,806
Securities held-to-maturity:
U.S. government sponsored enterprises		9,245		-		278		8,967
State and political subdivisions		136,335		3,091		532		138,894
Mortgage-backed securities-residential		6,472		72		7		6,537
Mortgage-backed securities-multi-family		118,780		123		2,845		116,058
Corporate debt securities		1,466		11		9		1,468
Other securities		2,252		16		15		2,253
Total securities held-to-maturity		274,550		3,313		3,686		274,177
Total securities	$	395,497	$	3,612	$	4,126	$	394,983

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, 2019.

	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	$	856	$	20		1	$	-	$	-		-	$	856	$	20		1
Total securities available-for-sale		856		20		1		-		-		-		856		20		1
Securities held-to-maturity:
U.S. government sponsored enterprises		-		-		-		1,986		14		1		1,986		14		1
State and political subdivisions		3,541		17		22		2,111		6		13		5,652		23		35
Mortgage-backed securities-multi-family		1,250		6		1		3,799		11		3		5,049		17		4
Corporate debt securities		-		-		-		452		25		1		452		25		1
Total securities held-to-maturity		4,791		23		23		8,348		56		18		13,139		79		41
Total securities	$	5,647	$	43		24	$	8,348	$	56		18	$	13,995	$	99		42

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, 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	$	969	$	30		1	$	-	$	-		-	$	969	$	30		1
State and political subdivisions		2,094		1		4		-		-		-		2,094		1		4
Mortgage-backed securities-residential		2,420		98		3		-		-		-		2,420		98		3
Mortgage-backed securities-multi-family		9,177		244		7		-		-		-		9,177		244		7
Corporate debt securities		1,450		65		6		254		2		1		1,704		67		7
Total securities available-for-sale		16,110		438		21		254		2		1		16,364		440		22
Securities held-to-maturity:
U.S. government sponsored enterprises		7,018		227		1		1,949		51		1		8,967		278		2
State and political subdivisions		34,743		434		167		4,352		98		34		39,095		532		201
Mortgage-backed securities-residential		1,403		7		3		-		-		-		1,403		7		3
Mortgage-backed securities-multi-family		94,927		2,586		45		6,398		259		3		101,325		2,845		48
Corporate debt securities		457		9		1		-		-		-		457		9		1
Other securities		892		14		1		75		1		1		967		15		2
Total securities held-to-maturity		139,440		3,277		218		12,774		409		39		152,214		3,686		257
Total securities	$	155,550	$	3,715		239	$	13,028	$	411		40	$	168,578	$	4,126		279

Investments Classified by Contractual Maturity Date

The estimated fair values of debt securities at June 30, 2019, 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	$	99,795	$	100,607
After one year through five years		767		779
After five years through ten years		2,255		2,287
After ten years		-		-
Total available-for-sale debt securities		102,817		103,673
Mortgage-backed and asset-backed securities		18,785		19,055
Total available-for-sale securities		121,602		122,728
Held-to-maturity debt securities
Within one year		23,317		23,676
After one year through five years		72,777		74,804
After five years through ten years		49,864		52,133
After ten years		18,710		20,258
Total held-to-maturity debt securities		164,668		170,871
Mortgage-backed		139,540		142,742
Total held-to-maturity securities		304,208		313,613
Total securities	$	425,810	$	436,341