Securities (Tables)

9 Months Ended

Mar. 31, 2021

Securities [Abstract]

Components of Securities

Securities at March 31, 2021 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	$	13,081	$	-	$	448	$	12,633
U.S. Treasury securities		19,699		-		79		19,620
State and political subdivisions		209,639		375		-		210,014
Mortgage-backed securities-residential		39,492		273		349		39,416
Mortgage-backed securities-multi-family		122,425		610		3,672		119,363
Corporate debt securities		3,009		131		-		3,140
Total securities available-for-sale		407,345		1,389		4,548		404,186
Securities held-to-maturity:
State and political subdivisions		294,382		15,963		426		309,919
Mortgage-backed securities-residential		32,908		695		202		33,401
Mortgage-backed securities-multi-family		103,448		4,381		110		107,719
Corporate debt securities		7,849		58		76		7,831
Other securities		5,486		63		-		5,549
Total securities held-to-maturity		444,073		21,160		814		464,419
Total securities	$	851,418	$	22,549	$	5,362	$	868,605

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 March 31, 2021.

	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	$	12,633	$	448		3	$	-	$	-		-	$	12,633	$	448		3
U.S. Treasury securities		19,620		79		2		-		-		-		19,620		79		2
Mortgage-backed securities-residential		24,844		349		6		-		-		-		24,844		349		6
Mortgage-backed securities-multi-family		89,334		3,672		31		-		-		-		89,334		3,672		31
Total securities available-for-sale		146,431		4,548		42		-		-		-		146,431		4,548		42
Securities held-to-maturity:
State and political subdivisions		33,767		426		78		-		-		-		33,767		426		78
Mortgage-backed securities-residential		13,553		202		3		-		-		-		13,553		202		3
Mortgage-backed securities-multi-family		3,507		110		2		-		-		-		3,507		110		2
Corporate debt securities		2,447		53		2		476		23		1		2,923		76		3
Total securities held-to-maturity		53,274		791		85		476		23		1		53,750		814		86
Total securities	$	199,705	$	5,339		127	$	476	$	23		1	$	200,181	$	5,362		128

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 March 31, 2021, 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	$	206,936	$	207,302
After one year through five years		6,160		6,271
After five years through ten years		30,832		30,316
After ten years		1,500		1,518
Total available-for-sale debt securities		245,428		245,407
Mortgage-backed securities		161,917		158,779
Total available-for-sale securities		407,345		404,186
Held-to-maturity debt securities
Within one year		44,456		45,152
After one year through five years		110,214		114,874
After five years through ten years		75,884		81,133
After ten years		77,163		82,140
Total held-to-maturity debt securities		307,717		323,299
Mortgage-backed securities		136,356		141,120
Total held-to-maturity securities		444,073		464,419
Total debt securities	$	851,418	$	868,605