Securities (Tables)

3 Months Ended

Sep. 30, 2019

Securities [Abstract]

Components of Securities

Securities at September 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	$	4,517	$	28	$	-	$	4,545
State and political subdivisions		120,630		346		-		120,976
Mortgage-backed securities-residential		8,589		51		19		8,621
Mortgage-backed securities-multi-family		20,256		323		1		20,578
Corporate debt securities		4,512		61		30		4,543
Total securities available-for-sale		158,504		809		50		159,263
Securities held-to-maturity:
U.S. government sponsored enterprises		2,000		-		12		1,988
State and political subdivisions		155,729		6,383		70		162,042
Mortgage-backed securities-residential		10,154		164		-		10,318
Mortgage-backed securities-multi-family		132,795		4,257		2		137,050
Corporate debt securities		1,480		12		28		1,464
Other securities		2,424		36		-		2,460
Total securities held-to-maturity		304,582		10,852		112		315,322
Total securities	$	463,086	$	11,661	$	162	$	474,585

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 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 September 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	$	3,078	$	2		1	$	803	$	17		1	$	3,881	$	19		2
Mortgage-backed securities-multi-family		3,085		1		1		-		-		-		3,085		1		1
Corporate debt securities		2,970		30		5		-		-		-		2,970		30		5
Total securities available-for-sale		9,133		33		7		803		17		1		9,936		50		8
Securities held-to-maturity:
U.S. government sponsored enterprises		-		-		-		1,988		12		1		1,988		12		1
State and political subdivisions		10,966		58		94		2,424		12		16		13,390		70		110
Mortgage-backed securities-multi-family		2,764		2		2		-		-		-		2,764		2		2
Corporate debt securities		-		-		-		452		28		1		452		28		1
Total securities held-to-maturity		13,730		60		96		4,864		52		18		18,594		112		114
Total securities	$	22,863	$	93		103	$	5,667	$	69		19	$	28,530	$	162		122

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

Investments Classified by Contractual Maturity Date

The estimated fair values of debt securities at September 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	$	125,147	$	125,521
After one year through five years		510		526
After five years through ten years		2,002		2,046
After ten years		2,000		1,971
Total available-for-sale debt securities		129,659		130,064
Mortgage-backed securities		28,845		29,199
Total available-for-sale securities		158,504		159,263
Held-to-maturity debt securities
Within one year		25,105		25,395
After one year through five years		74,861		76,755
After five years through ten years		43,093		45,660
After ten years		18,574		20,144
Total held-to-maturity debt securities		161,633		167,954
Mortgage-backed securities		142,949		147,368
Total held-to-maturity securities		304,582		315,322
Total debt securities	$	463,086	$	474,585