Note 4.Securities

The fair value of securities available-for-sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized
March 31, 2015	Cost		Gains		Losses			Fair Value
Residential mortgage-backed securities	$	548,209	$	163	$	(1,249	)	$	547,123


			Gross		Gross
	Amortized		Unrealized		Unrealized
June 30, 2014	Cost		Gains		Losses			Fair Value

Residential mortgage-backed securities	$	887,394	$	-	$	(5,086	)	$	882,308

The carrying amount, unrecognized gross gains and losses, and fair value of securities held-to-maturity are as follows:

			Gross		Gross
	Amortized		Unrealized		Unrealized
March 31, 2015	Cost		Gains		Losses			Fair Value
Residential mortgage-backed securities	$	327,284	$	19,796	$	-		$	347,080
Municipal securities	3,058,921		4,949		-			3,063,870

	$	3,386,205	$	24,745	$	-		$	3,410,950


			Gross		Gross
	Amortized		Unrealized		Unrealized
June 30, 2014	Cost		Gains		Losses			Fair Value

Residential mortgage-backed securities	$	500,811	$	25,265	$	-		$	526,076
Municipal securities	3,141,493		1,007		(797		)	3,141,703

	$	3,642,304	$	26,272	$	(797	)	$	3,667,779

Securities available-for-sale and held-to-maturity consist of investments in bonds securitized by the Government National Mortgage Association and local municipal securities.

The contractual maturities of the residential mortgage-backed securities at March 31, 2015 are not disclosed because the securities are not due at a single maturity date. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Approximately $2.9 million in municipal securities will mature in the year ending June 30, 2019 with the remaining balance maturing in the year ending June 30, 2020.

There were no sales of securities for the nine months ended March 31, 2015 and 2014 and the year ended June 30, 2014.

The duration of gross unrealized losses is not disclosed as such amounts are immaterial to the consolidated financial statements. The Company has not recognized other-than-temporary impairment on any securities for the nine months ended March 31, 2015 and 2014.