Investment Securities

6 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Investment Securities

3. Investment Securities

The following table summarizes the amortized cost and fair value of securities available-for-sale and securities held-to-maturity at December 31, 2019 and June 30, 2019, the corresponding amounts of gross unrealized gains recognized in accumulated other comprehensive income and gross unrecognized gains and losses:

	December 31, 2019
(in thousands)	Amortized cost		Gross unrealized/ unrecognized gains		Gross unrealized/ unrecognized losses		Estimated fair value
Available-for-sale Securities
Agency mortgage-backed: residential	$	41	$	1	$	–	$	42
Agency bonds		500		3		–		503
	$	541	$	4	$	–	$	545
Held-to-maturity Securities
Agency mortgage-backed: residential	$	652	$	12	$	5	$	659
	June 30, 2019
(in thousands)	Amortized cost		Gross unrealized/ unrecognized gains		Gross unrealized/ unrecognized losses		Estimated fair value
Available-for-sale Securities
U.S. Treasury securities	$	496	$	1	$	–	$	497
Agency bonds		501		4		–		505
Agency mortgage-backed: residential		43		–		–		43
	$	1,040	$	5	$	–	$	1,045
Held-to-maturity Securities
Agency mortgage-backed: residential	$	775	$	14	$	14	$	775

The amortized cost and fair market value of securities as of December 31, 2019, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities, because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities without a single maturity, primarily mortgage-backed securities, are not shown.

(in thousands)	Amortized Cost		Fair Value
Available for sale:
Within one year	$	500	$	503

Our pledged securities (including overnight and time deposits in other financial institutions) totaled $1.9 million and $2.1 million at both December 31 and June 30, 2019, respectively.

We evaluated securities in unrealized loss positions for evidence of other-than-temporary impairment, considering duration, severity, financial condition of the issuer, our intention to sell or requirement to sell. Those securities were agency mortgage backed securities, which carry a very limited amount of risk. Also, we have no intention to sell nor feel that we will be compelled to sell such securities before maturity. Based on our evaluation, no impairment has been recognized through earnings.