INVESTMENT SECURITIES

3 Months Ended

Sep. 30, 2011

INVESTMENT SECURITIES [Abstract]

INVESTMENT SECURITIES

6. INVESTMENT SECURITIES

The amortized cost and fair values of investments are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in Thousands)
September 30, 2011
AVAILABLE FOR SALE
Corporate debt securities	$	21,925	$	1	$	(129	)	$	21,797
Foreign debt securities (1)		594		-		(4	)		590
Total	$	22,519	$	1	$	(133	)	$	22,387
HELD TO MATURITY
U.S. government agency securities	$	11,794	$	7	$	(3	)	$	11,798
Corporate debt securities		38,803		2,114		(4	)		40,913
Foreign debt securities (1)		2,003		143		-			2,146
Obligations of states and political subdivisions		3,579		30		-			3,609
Total	$	56,179	$	2,294	$	(7	)	$	58,466

⁽¹⁾  U.S. dollar-denominated investment-grade corporate bonds of large foreign issuers.

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 2011
AVAILABLE FOR SALE
Corporate debt securities	$	1,067	$	-	$	(3	)	$	1,064
Total	$	1,067	$	-	$	(3	)	$	1,064
HELD TO MATURITY
U.S. government agency securities	$	40,068	$	53	$	(7	)	$	40,114
Corporate debt securities		41,227		2,330		-			43,557
Foreign debt securities (1)		3,514		163		-			3,677
Obligations of states and political Subdivisions		3,565		61		-			3,626
Total	$	88,374	$	2,607	$	(7	)	$	90,974

⁽¹⁾  U.S. dollar-denominated investment-grade corporate bonds of large foreign issuers.

There were no recorded realized investment securities gains during the quarters ended September 30, 2011 and September 30, 2010.

The amortized cost and fair values of debt securities at September 30, 2011, by contractual maturity, are shown below. Expected maturities may differ from the contractual maturities because issuers may have the right to call securities prior to their final maturities.

	Due in one year or less		Due after one through five years		Due after five through ten years		Due after ten years		Total
	(Dollars in Thousands)
AVAILABLE FOR SALE
Amortized cost	$	2,033	$	20,486	$	-	$	-	$	22,519
Fair value		2,024		20,363		-		-		22,387
HELD TO MATURITY
Amortized cost	$	13,751	$	26,666	$	9,366	$	6,396	$	56,179
Fair value		13,919		28,086		10,043		6,418		58,466

Investment securities with amortized costs of $0 thousand and $3.9 million and fair values of $0 thousand and $3.9 million at September 30, 2011 and June 30, 2011, respectively, were pledged to secure public deposits, repurchase agreements, and for other purposes as required by law.