Securities (Tables)

6 Months Ended

Dec. 31, 2020

Securities [Abstract]

Components of Securities

Securities at December 31, 2020 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		6,999		-		48		6,951
State and political subdivisions	$	195,832	$	572	$	-	$	196,404
Mortgage-backed securities-residential		46,858		575		1		47,432
Mortgage-backed securities-multi-family		76,305		1,166		324		77,147
Corporate debt securities		4,009		167		6		4,170
Total securities available-for-sale		330,003		2,480		379		332,104
Securities held-to-maturity:
State and political subdivisions		262,005		17,245		5		279,245
Mortgage-backed securities-residential		25,484		829		3		26,310
Mortgage-backed securities-multi-family		108,697		7,011		-		115,708
Corporate debt securities		7,095		27		25		7,097
Other securities		5,488		81		-		5,569
Total securities held-to-maturity		408,769		25,193		33		433,929
Total securities	$	738,772	$	27,673	$	412	$	766,033

Securities at June 30, 2020 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	$	502	$	2	$	-	$	504
State and political subdivisions		176,064		1,043		-		177,107
Mortgage-backed securities-residential		15,148		380		-		15,528
Mortgage-backed securities-multi-family		28,116		798		4		28,910
Corporate debt securities		4,510		163		13		4,660
Total securities available-for-sale		224,340		2,386		17		226,709
Securities held-to-maturity:
U.S. government sponsored enterprises		2,000		11		-		2,011
State and political subdivisions		210,535		14,286		3		224,818
Mortgage-backed securities-residential		38,884		1,002		15		39,871
Mortgage-backed securities-multi-family		127,582		6,680		21		134,241
Corporate debt securities		2,593		7		130		2,470
Other securities		2,063		38		-		2,101
Total securities held-to-maturity		383,657		22,024		169		405,512
Total securities	$	607,997	$	24,410	$	186	$	632,221

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, 2020.

	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	$	6,951	$	48		2	$	-	$	-		-	$	6,951	$	48		2
Mortgage-backed securities-residential		1,925		1		1		-		-		-		1,925		1		1
Mortgage-backed securities-multi-family		32,916		324		10		-		-		-		32,916		324		10
Corporate debt securities		994		6		1		-		-		-		994		6		1
Total securities available-for-sale		42,786		379		14		-		-		-		42,786		379		14
Securities held-to-maturity:
State and political subdivisions		1,204		5		6		-		-		-		1,204		5		6
Mortgage-backed securities-residential		1,640		3		1		-		-		-		1,640		3		1
Corporate debt securities		1,497		3		1		473		22		1		1,970		25		2
Total securities held-to-maturity		4,341		11		8		473		22		1		4,814		33		9
Total securities	$	47,127	$	390		22	$	473	$	22		1	$	47,600	$	412		23

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, 2020.

	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-multi-family	$	1,051	$	4		1	$	-	$	-		-	$	1,051	$	4		1
Corporate debt securities		2,487		13		3		-		-		-		2,487		13		3
Total securities available-for-sale		3,538		17		4		-		-		-		3,538		17		4
Securities held-to-maturity:
State and political subdivisions		3,336		3		12		-		-		-		3,336		3		12
Mortgage-backed securities-residential		3,604		15		2		-		-		-		3,604		15		2
Mortgage-backed securities-multi-family		3,562		21		3		-		-		-		3,562		21		3
Corporate debt securities		1,103		2		2		361		128		1		1,464		130		3
Total securities held-to-maturity		11,605		41		19		361		128		1		11,966		169		20
Total securities	$	15,143	$	58		23	$	361	$	128		1	$	15,504	$	186		24

Investments Classified by Contractual Maturity Date

The estimated fair values of debt securities at December 31, 2020, 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	$	193,109	$	193,670
After one year through five years		3,689		3,786
After five years through ten years		8,542		8,558
After ten years		1,500		1,511
Total available-for-sale debt securities		206,840		207,525
Mortgage-backed securities		123,163		124,579
Total available-for-sale securities		330,003		332,104
Held-to-maturity debt securities
Within one year		41,684		42,395
After one year through five years		102,444		107,389
After five years through ten years		69,549		75,648
After ten years		60,911		66,479
Total held-to-maturity debt securities		274,588		291,911
Mortgage-backed securities		134,181		142,018
Total held-to-maturity securities		408,769		433,929
Total debt securities	$	738,772	$	766,033