Investment Securities

3 Months Ended

Sep. 30, 2012

Investment Securities

Investment Securities

Note 7.  Investment Securities

The amortized cost, gross unrealized gains and losses, and fair value of the Company’s investment securities as of September 30, 2012 and June 30, 2012:

September 30, 2012

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Trading
Equity securities	$	4,947	$	195	$	(132	)	$	5,010

June 30, 2012

(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Trading
Equity securities	$	6,874	$	157	$	(364	)	$	6,667

The Company uses the specific identification method to determine the cost of securities sold.  For the three months ended September 30, 2012 the Company had gains on investments of $234, of which $36 were realized losses and $270 were unrealized gains.  For the three months ended September 30, 2011, the Company had losses on investments of $999, of which $173 were realized losses and $826 were unrealized losses.

As of September 30, 2012 and June 30, 2012, there were no securities held from a single issuer that represented more than 10% of shareholders’ equity.  As of September 30, 2012, securities with an aggregate fair value of $2,294 were in an unrealized loss position totaling $132.  As of June 30, 2012, securities with an aggregate fair value of $3,466 were in an unrealized loss position totaling $364.  Of those securities in an unrealized loss position at September 30, 2012, $96 were in a continuous unrealized loss position for more than 12 months with a total unrealized loss of $14.  No securities were in a continuous unrealized loss position for more than 12 months as of June 30, 2012.