Securities (Tables)

6 Months Ended

Dec. 31, 2019

Securities [Abstract]

Components of Securities

Securities at December 31, 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	$	4,511	$	19	$	-	$	4,530
State and political subdivisions		147,915		417		-		148,332
Mortgage-backed securities-residential		10,283		50		17		10,316
Mortgage-backed securities-multi-family		25,174		182		74		25,282
Corporate debt securities		4,511		62		34		4,539
Total securities available-for-sale		192,394		730		125		192,999
Securities held-to-maturity:
U.S. government sponsored enterprises		2,000		-		3		1,997
State and political subdivisions		174,165		8,883		159		182,889
Mortgage-backed securities-residential		11,302		153		1		11,454
Mortgage-backed securities-multi-family		137,193		3,093		119		140,167
Corporate debt securities		1,993		21		8		2,006
Other securities		5,336		47		-		5,383
Total securities held-to-maturity		331,989		12,197		290		343,896
Total securities	$	524,383	$	12,927	$	415	$	536,895

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 December 31, 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	$	3,026	$	2		1	$	726	$	15		1	$	3,752	$	17		2
Mortgage-backed securities-multi-family		8,137		74		4		-		-		-		8,137		74		4
Corporate debt securities		1,966		34		2		-		-		-		1,966		34		2
Total securities available-for-sale		13,129		110		7		726		15		1		13,855		125		8
Securities held-to-maturity:
U.S. government sponsored enterprises		-		-		-		1,997		3		1		1,997		3		1
State and political subdivisions		13,475		155		86		1,117		4		14		14,592		159		100
Mortgage-backed securities-residential		1,094		1		1		-		-		-		1,094		1		1
Mortgage-backed securities-multi-family		12,938		119		7		-		-		-		12,938		119		7
Corporate debt securities		-		-		-		475		8		1		475		8		1
Total securities held-to-maturity		27,507		275		94		3,589		15		16		31,096		290		110
Total securities	$	40,636	$	385		101	$	4,315	$	30		17	$	44,951	$	415		118

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 December 31, 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	$	151,934	$	152,370
After one year through five years		1,001		1,019
After five years through ten years		2,002		2,046
After ten years		2,000		1,966
Total available-for-sale debt securities		156,937		157,401
Mortgage-backed securities		35,457		35,598
Total available-for-sale securities		192,394		192,999
Held-to-maturity debt securities
Within one year		31,439		31,793
After one year through five years		81,615		83,961
After five years through ten years		47,539		50,463
After ten years		22,901		26,058
Total held-to-maturity debt securities		183,494		192,275
Mortgage-backed securities		148,495		151,621
Total held-to-maturity securities		331,989		343,896
Total debt securities	$	524,383	$	536,895