Investment Securities (Tables)

9 Months Ended

Mar. 31, 2020

Investments Debt And Equity Securities [Abstract]

Schedule of Amortized Cost, Gross Unrealized/Unrecognized Gains and Losses and Fair Value of Available for Sale and Held to Maturity Debt Securities

The amortized cost, gross unrealized/unrecognized gains and losses and fair value of available for sale and held to maturity debt securities at March 31, 2020 and June 30, 2019 were as follows:

	March 31, 2020
	Amortized		Gross Unrealized/Unrecognized					Fair
	Cost		Gains		Losses			Value
			(in thousands)
Available for sale:
U.S. Government and agency obligations	$	19,006	$	83	$	-		$	19,089
Corporate and other debt securities		5,044		71		(89	)		5,026
Mortgage-backed securities – residential		21,819		149		(91	)		21,877
Total available for sale	$	45,869	$	303	$	(180	)	$	45,992
Held to maturity:
U.S. Government and agency obligations	$	33,002	$	500	$	-		$	33,502
Corporate and other debt securities		46,107		90		(2,762	)		43,435
Mortgage-backed securities – residential		116,666		3,839		(2	)		120,503
Mortgage-backed securities – collateralized mortgage obligations		47,581		1,589		-			49,170
Mortgage-backed securities – commercial		20,270		826		(2	)		21,094
Total held to maturity	$	263,626	$	6,844	$	(2,766	)	$	267,704

	June 30, 2019
	Amortized		Gross Unrealized/Unrecognized					Fair
	Cost		Gains		Losses			Value
			(in thousands)
Available for sale:
U.S. Government and agency obligations	$	37,027	$	5	$	(121	)	$	36,911
Corporate and other debt securities		8,349		20		(9	)		8,360
Mortgage-backed securities – residential		27,115		23		(181	)		26,957
Total available for sale	$	72,491	$	48	$	(311	)	$	72,228
Held to maturity:
U.S. Government and agency obligations	$	96,545	$	192	$	(246	)	$	96,491
Corporate and other debt securities		34,033		133		(413	)		33,753
Mortgage-backed securities – residential		133,602		818		(372	)		134,048
Mortgage-backed securities – collateralized mortgage obligations		52,940		311		(147	)		53,104
Mortgage-backed securities – commercial		28,425		451		(29	)		28,847
Total held to maturity	$	345,545	$	1,905	$	(1,207	)	$	346,243

Fair Value and Carrying Amount of Debt Securities by Contractual Maturity

The following table presents the fair value and carrying amount of debt securities at March 31, 2019, by contractual maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately.

	Held to maturity				Available for sale
	Carrying		Fair		Amortized		Fair
	Amount		Value		Cost		Value
1 year or less	$	22,000	$	22,088	$	18,007	$	18,076
1 to 5 years		19,002		18,963		6,043		6,039
5 to 10 years		34,125		31,814		-		-
Mortgage-backed securities and other		188,499		194,839		21,819		21,877
Total	$	263,626	$	267,704	$	45,869	$	45,992

Investment Securities with Fair Value and Unrealized Losses

The following table provides information regarding investment securities with unrealized/unrecognized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position at March 31, 2020 and June 30, 2019:

	March 31, 2020
	Less than 12 months					12 months or greater					Total
			Unrealized/					Unrealized/					Unrealized/
	Fair		Unrecognized			Fair		Unrecognized			Fair		Unrecognized
	Value		Loss			Value		Loss			Value		Loss
	(in thousands)
Available for sale:
Corporate and other debt securities	$	1,911	$	(89	)	$	-	$	-		$	1,911	$	(89	)
Mortgage-backed securities – residential		6,412		(40	)		2,368		(51	)		8,780		(91	)
Total available for sale	$	8,323	$	(129	)	$	2,368	$	(51	)	$	10,691	$	(180	)
Held to maturity:
Corporate and other debt securities	$	30,291	$	(2,334	)	$	2,071	$	(428	)	$	32,362	$	(2,762	)
Mortgage-backed securities – residential		914		(2	)		-		-			914		(2	)
Mortgage-backed securities – commercial		-		-			1,438		(2	)		1,438		(2	)
Total held to maturity	$	31,205	$	(2,336	)	$	3,509	$	(430	)	$	34,714	$	(2,766	)

	June 30, 2019
	Less than 12 months					12 months or greater					Total
			Unrealized/					Unrealized/					Unrealized/
	Fair		Unrecognized			Fair		Unrecognized			Fair		Unrecognized
	Value		Loss			Value		Loss			Value		Loss
	(in thousands)
Available for sale
U.S. Government and agency obligations	$	-	$	-		$	32,919	$	(121	)	$	32,919	$	(121	)
Corporate and other debt securities		-		-			3,269		(9	)		3,269		(9	)
Mortgage-backed securities – residential		-		-			24,000		(181	)		24,000		(181	)
Total available for sale	$	-	$	-		$	60,188	$	(311	)	$	60,188	$	(311	)
Held to maturity
U.S. Government and agency obligations	$	-	$	-		$	59,306	$	(246	)	$	59,306	$	(246	)
Corporate and other debt securities		17,087		(413	)		-		-			17,087		(413	)
Mortgage-backed securities – residential		1,666		(26	)		54,648		(346	)		56,314		(372	)
Mortgage-backed securities – collateralized    mortgage obligations		-		-			29,372		(147	)		29,372		(147	)
Mortgage-backed securities – commercial		-		-			6,972		(29	)		6,972		(29	)
Total held to maturity	$	18,753	$	(439	)	$	150,298	$	(768	)	$	169,051	$	(1,207	)